Jollibee Foods (JFC) Q3 2025 earnings summary

Executive summary

• Q3 2025 saw consolidated revenues rise 12.8% year-over-year to ₱76.4B, with nine-month revenues up 14.3% to ₱224.2B, driven by organic growth and Compose Coffee acquisition.

• System-wide sales grew 16.8% in Q3, with 812 new stores opened, expanding the network to 10,304 locations.

• International operations, especially North America, Vietnam, and coffee/tea segments, delivered robust growth and outpaced peers.

• Strategic focus on value pricing, disciplined cost management, and menu innovation supported positive transaction growth and profitability.

• Q3 same-store sales growth was 1.2% in the Philippines, impacted by severe weather, but October trends indicate recovery.

Financial highlights

• Q3 2025 net income rose 4.0% year-over-year to ₱3.1B; nine-month net income up 1.6% to ₱9.0B.

• Basic EPS for nine months was ₱7.484, up 2.8% year-over-year; Q3 EPS (basic) at 2.63 (+8.9% YoY).

• Gross margin for Q3 was 18.4%, with a 70 basis point compression mainly due to inventory cost increases and acquisitions.

• Free cash flow from operations for nine months was ₱13.5B, with net CapEx at ₱10.2B.

• Dividend for FY2025 at ₱3.44 (+15.8% YoY); December 2025 dividend declared at ₱2.11 per share, up 15.9%.

Outlook and guidance

• On track to meet FY2025 guidance: SWS growth 8–12%, revenue growth 4–6%, 700–800 new stores, and operating income growth 10–15%.

• CapEx guidance for FY2025 is ₱18–21B, focused on new stores, renovations, manufacturing, and technology.

• Guidance remains unchanged, with system-wide sales and same-store sales growth ahead of targets.

• Targeting to triple NIAT and reach 20% ROIC by 2028.

• Smashburger targeted to reach EBITDA positive in 2026.