Jollibee Foods (JFC) Q4 2025 earnings summary

Executive summary

• Achieved resilient revenue growth driven by strong brand relevance, affordability, and value-driven demand across both domestic and international markets.

• Operating income and EBITDA growth outpaced revenue, reflecting strong operating leverage and disciplined cost management.

• Continued aggressive expansion of store network, digital channels, and franchise models, with capital-light, asset-efficient formats driving most new openings.

• Digital and convenience channels scaled significantly, supporting incremental traffic and sales without margin dilution.

• Strategic initiatives included a planned US spin-off, Highlands Coffee IPO, Compose Coffee entry into the Philippines, and acquisition of Korea's No. 1 Hot Pot Brand.

Financial highlights

• Q4 system-wide sales reached PHP 122.3 billion, up 12% year-over-year, with revenues at PHP 80.9 billion (+9.8% YoY).

• Operating income margin at 5.1%, with operating income up 41.9% year-over-year to PHP 4.1 billion.

• EBITDA margin improved to 13.7% for the year; Q4 EBITDA was PHP 9.9 billion (+18.7% YoY), margin at 12.3%.

• Free cash flow from operations at PHP 21.6 billion for FY25, with significant improvement excluding lease payments.

• CapEx at PHP 15.1 billion, with PHP 3 billion non-recurring; normalized CapEx around PHP 12 billion.

Outlook and guidance

• 2026 guidance: 8%-12% system-wide sales growth, 4%-6% same-store sales growth, 1,200-1,300 gross store openings, and 15%-18% operating income growth.

• CapEx guidance reduced to 13%-16% of revenue, with target CapEx PHP 13–16 billion.

• Aggressive double-digit growth targets maintained despite macro uncertainties and ongoing geopolitical risks.