ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Consumer Services

Jollibee Foods Corp.

Company Background

Started by its chairman, Tony Tan Caktiong, as an ice cream parlor in 1975, Jollibee Foods is now one of Asia's top quick-service restaurant chains by market value. Jollibee, the company's flagship chain, has become a household name in the Philippines Its other quick-service restaurant brands include Chowking, which serves Asian cuisine; Greenwich, which does pizza; Red Ribbon, a bakery chain; and Mang Inasal, where the specialty is grilled chicken. The company also owns the Philippines franchise rights for Burger King.

Outside the Philippines, Jollibee Foods has affiliates that develop and operate international brands like Yonghe King, Hong Zhuang Yuan, San Pin Wang and 12 Hotpot. It has restaurants in Brunei, China, Hong Kong, Kuwait, Oman, Qatar, Saudi Arabia, Singapore, the U.S. and Vietnam.

The chains sell dishes that are prepared on-site and are based on original company recipes. The restaurants use company-specified ingredients and supplies, and follow company standards and procedures. Tan Caktiong, a chemical engineering graduate from the University of Santo Tomas in Manila, in August stepped down as Jollibee CEO and was replaced by his brother Ernesto Tanmantiong.

Business Summary

Jollibee Foods Corp. engages in the development, operation, and franchising fast food stores under the trade name Jollibee. It operates through the following segments: Food Service, Franchising, and Leasing. The Food Service segment operates quick service restaurants and the manufacture of food products to be sold to Jollibee Group-owned and franchised QSR outlets. The Franchising segment franchises the Jollibee Group's QSR store concepts. The Leasing segment leases store sites mainly to the Jollibee Group's independent franchisees. The company was founded by Tony Tan Caktiong in 1975 and is headquartered in Pasig City, Philippines.

Financial Highlights

Dec 2022 PHPUSD
Gross Profit36,265.73M665.16M
Operating income10,161.10M186.37M
Income before tax11,183.53M205.12M
Net income7,558.50M138.63M
Diluted EPS6.380.11
Dividends Per Share2.300.04
Total Assets245,828.49M4,411.25M
Total liabilities185,178.26M3,322.92M
Total equity62,220.76M1,116.51M
Operating cash flow21,731.56M398.58M
Currency in PHPCurrency in USD

Historical Data

 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 161,167.78M 179,626.18M 129,313.00M 153,575.59M 211,902.21M
Gross Profit 28,205.27M 28,749.86M 13,924.17M 25,428.29M 36,265.73M
Operating income 8,997.44M 6,691.28M -8,148.97M 5,752.05M 10,161.10M
Income before tax 10,408.45M 10,542.56M -12,211.32M 6,186.84M 11,183.53M
Net income 8,212.60M 7,302.72M -11,510.72M 5,981.69M 7,558.50M
EBITDA 20,883.19M 20,186.67M 6,419.76M 19,234.31M 25,759.69M
Diluted EPS 7.44 6.60 -10.44 5.29 6.38
Dividends Per Share 2.57 1.97 0.78 1.96 2.30
Total Assets 150,530.05M 187,459.94M 210,827.30M 210,855.40M 245,828.49M
Total liabilities 101,516.78M 134,073.02M 173,366.26M 156,918.87M 185,178.26M
Total equity 47,512.28M 53,487.51M 38,556.43M 55,618.72M 62,220.76M
Operating cash flow 19,775.64M 18,724.20M -1,924.04M 17,677.25M 21,731.56M
 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 3,059.20M 3,469.00M 2,607.09M 3,115.46M 3,886.60M
Gross Profit 535.37M 555.22M 280.72M 515.84M 665.16M
Operating income 170.78M 129.22M -164.29M 116.68M 186.37M
Income before tax 197.56M 203.60M -246.19M 125.50M 205.12M
Net income 155.88M 141.03M -232.06M 121.34M 138.63M
EBITDA 396.39M 389.85M 129.42M 390.19M 472.47M
Diluted EPS 0.14 0.12 -0.21 0.10 0.11
Dividends Per Share 0.04 0.03 0.01 0.03 0.04
Total Assets 2,862.60M 3,701.45M 4,390.08M 4,135.02M 4,411.25M
Total liabilities 1,930.52M 2,647.31M 3,610.02M 3,077.29M 3,322.92M
Total equity 903.53M 1,056.12M 802.86M 1,090.72M 1,116.51M
Operating cash flow 375.37M 361.60M -38.79M 358.60M 398.58M

Valuation Measures

Dec 2022
Operating margin4.79%
Profit margin3.56%


  • President, CEO & Executive Director: Ernesto Siao Tanmantiong
  • Chief Financial Officer: Richard Shin
  • Chief Compliance Officer: Valerie Feria Amante
  • Vice President & Comptroller-Worldwide: Marilou N. Sibayan
  • Chief Procurement Officer: Susana K. Tanmantiong


  • Hyper Dynamic Corp. (43.3%)
  • Honeyworth Corp. (2.2%)
  • First Sentier Investors (Hong Kong) Ltd. (1.5%)
  • First Sentier Investors (UK) IM Ltd. (1.5%)
  • The Vanguard Group, Inc. (1.4%)
  • Jollibee Foods Corp. (1.4%)
  • Norges Bank Investment Management (1.3%)

Contact Details

  • Website:
  • Address: 10/F, Jollibee Plaza Building, No. 10 F. Ortigas Jr. Avenue, Pasig City, 1605, Philippines
  • Phone: +63.2.634.1111

Related Companies

  • QSR Builders, Inc.
  • Ice Cream Copenhagen Phils., Inc.
  • BKTitans, Inc.
  • Super Magnificent Coffee Co. Hungary Kft.
  • Super Magnificent Coffee Co. Ireland Ltd.
  • Hangzhou Yong He King Food & Beverage Co. Ltd.
  • Regional Operating Headquarters of JWPL
  • Honeybee Foods (Canada) Corp.
  • Quantum Corp. (Vietnam)
  • Highland Coffee Service JSC
  • Bee World Spain SL
  • Super Magnificent Coffee Co. Pte Ltd.
  • Cibo Felice Srl
  • Bee World UK Ltd.
  • Jollibee Worldwide Pte Ltd. (Singapore)
  • Jollibee Foods Corp. (USA)
  • Happy Bee Foods Processing (Anhui) Co., Ltd.
  • IConnect Multi Media Network, Inc.
  • BK Titans, Inc.
  • Jollibee Hong Kong Ltd.
  • Super Magnificent Coffee Company
  • Adgraphix, Inc.
  • Wuhan Yonghe King Food & Beverage Co. Ltd.
  • Shenzhen Yong He King Food & Beverage Co. Ltd.
  • Beijing Yong He King Food & Beverage Co. Ltd.
  • Tianjin Yong He King Food & Beverage Co. Ltd.
  • Hangzhou Yongtong Food & Beverage Co. Ltd.
  • Hangzhou Yonghe Food & Beverage Co. Ltd.
  • Shanghai Yong He King Food & Beverage Management Co. Ltd.


  • Max's Group Inc
  • Restaurant Brands International, Inc.
  • Yum! Brands, Inc.
  • McDonald's Corporation
  • Wendy's Company
  • Alliance Global Group Inc.
  • Good Times Restaurants Inc.
  • Monde Nissin Corp.
Last Updated on 22 Sep, 2023

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more