Item 7 in this filing is presented by format, so the 2025 and 2026 ranges are not directly comparable. 2026: $670,000–$2,130,000. 2025: $462,000–$2,053,500.
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Low end of range | $462,000 | $670,000 | |
| High end of range | $2,053,500 | $2,130,000 | |
| Full range | $462,000–$2,053,500 | $670,000–$2,130,000 |
Item 7 in this filing is presented by format, so the 2025 and 2026 ranges are not directly comparable. 2026: $670,000–$2,130,000. 2025: $462,000–$2,053,500.
2025 filing: Item 7 provides separate total investment ranges by restaurant concept type; totals exclude real property in some cases and note that vehicles for delivery are not included.
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Total outlets (Item 20) | 5,237 | 5,031 | −206 (−3.9%) |
| Franchised outlets | 5,214 | 4,956 | −258 (−4.9%) |
| Company-owned outlets | 23 | 75 | +52 |
| Openings during the year | 89 | 55 | −34 |
| Closures during the year | 175 | 261 | +86 |
Pizza Hut reports 5,031 outlets in the 2026 FDD, against 5,237 in the 2025 filing — a change of −206 (−3.9%).
Outlet counts as each filing states them — 2025: Fiscal year ended December 30, 2024; 2026: Fiscal year ended December 29, 2025. Item 20 Table No. 1 provides systemwide totals for 2023-2025. Item 20 Table No. 3 totals for franchised outlets in 2025 show 55 outlets opened and 259 ceased operations for other reasons, with 54 reacquired by franchisor; terminations and non-renewals are shown as 0 in the totals row. Table No.
Pizza Hut included an Item 19 financial performance representation in both the 2025 and 2026 filings. The 2026 filing discloses financial performance, broken out across 3 outlet segments for FY 2025 (Reporting Period beginning December 31, 2024 and ending December 29, 2025) and FY 2024 (Reporting Period beginning December 26, 2023 and ending December 30, 2024).
| 2025 FDD | 2026 FDD | Change | |
|---|---|---|---|
| Standard royalty rate | 6.5% | 6.5% | unchanged |
The standard royalty rate holds at 6.5% of Gross Sales across both filings.
2025 filing: Disclosed as 6.0% of Gross Sales (6.5% of Gross Sales under certain circumstances). Note 1 describes an alternative effective royalty rate in jurisdictions where alcohol sales cannot be included in the percentage fee. 2026 filing: Rate stated as 6.0% of Gross Sales (6.5% of Gross Sales under certain circumstances); payable monthly by the 20th day of the next month.
Year-over-Year comparison is included with the $19 Workspace when available.