WEN · Wendy'S Co - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $540.64M | - | $549.52M | $560.93M | $523.47M | - | $566.74M | $570.73M | $534.75M | - |
| Cost of Revenue | $201.05M | - | $204.26M | $196.52M | $188.17M | - | $195.64M | $199.89M | $192.11M | - |
| Gross Profit | $339.59M | - | $345.26M | $364.41M | $335.30M | - | $371.10M | $370.84M | $342.64M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $72.84M | - | $57.91M | $59.48M | $68.20M | - | $62.79M | $61.50M | $63.76M | - |
| Total Operating Expenses | $475.72M | - | $457.47M | $456.67M | $440.35M | - | $472.06M | $471.22M | $453.60M | - |
| D&A | $40.58M | - | $38.39M | $36.99M | $36.55M | - | $37.00M | $37.49M | $35.52M | - |
| Operating Income | $64.92M | - | $92.05M | $104.26M | $83.13M | - | $94.67M | $99.51M | $81.16M | - |
| Interest Expense | $34.11M | - | $31.54M | $31.00M | $31.48M | - | $31.27M | $31.00M | $30.54M | - |
| Income Tax | $11.45M | - | $18.98M | $20.79M | $15.69M | - | $19.43M | $20.18M | $15.46M | - |
| Net Income | $22.71M | - | $44.25M | $55.11M | $39.23M | - | $50.22M | $54.64M | $41.99M | - |
| EPS - Basic | $0.12 | - | $0.23 | $0.29 | $0.20 | - | $0.25 | $0.27 | $0.20 | - |
| EPS - Diluted | $0.12 | - | $0.23 | $0.29 | $0.19 | - | $0.25 | $0.27 | $0.20 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $298.74M | $300.83M | $291.41M | $281.23M | $335.26M | $450.51M | $482.22M | $465.49M | $498.33M | $516.04M |
| Accounts Receivable | - | $104.96M | - | - | - | $86.84M | - | - | - | $104.80M |
| Inventory | $6.60M | $7.39M | $6.93M | $6.31M | $6.20M | $6.53M | $6.25M | $6.38M | $6.11M | $6.69M |
| Accounts Payable | $23.60M | $30.45M | $27.20M | $26.64M | $24.86M | $28.45M | $29.05M | $25.77M | $26.18M | $27.37M |
| Current Assets | $652.26M | $618.04M | $640.86M | $600.45M | $644.20M | $736.14M | $783.21M | $790.56M | $867.53M | $837.65M |
| Total Assets | $4.92B | $4.96B | $4.98B | $4.89B | $4.92B | $5.03B | $5.07B | $5.09B | $5.19B | $5.18B |
| Current Liabilities | $356.16M | $351.10M | $793.73M | $415.22M | $433.50M | $397.63M | $373.07M | $364.86M | $425.45M | $381.93M |
| Long-term Debt | $2.72B | $2.73B | $2.30B | $2.65B | $2.66B | $2.66B | $2.72B | $2.72B | $2.73B | $2.73B |
| Total Liabilities | $4.81B | $4.84B | $4.87B | $4.78B | $4.79B | $4.78B | $4.81B | $4.81B | $4.90B | $4.87B |
| Stockholders' Equity | $115.55M | $117.38M | $109.19M | $112.89M | $130.24M | $259.35M | $259.85M | $273.75M | $293.65M | $309.78M |
| Retained Earnings | $431.17M | $435.12M | $435.29M | $417.76M | $389.48M | $399.70M | $403.26M | $403.84M | $400.46M | $409.86M |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $59.39M | - | - | - | $85.42M | - | - | - | $99.99M | - |
| Investing Cash Flow | ($13.66M) | - | - | - | ($21.49M) | - | - | - | ($20.81M) | - |
| Financing Cash Flow | ($40.48M) | - | - | - | ($179.32M) | - | - | - | ($72.63M) | - |
| CapEx | $11.88M | - | - | - | $17.68M | - | - | - | $17.35M | - |
| Free Cash Flow | $47.51M | - | - | - | $67.74M | - | - | - | $82.63M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 62.8% | - | 62.8% | 65.0% | 64.1% | - | 65.5% | 65.0% | 64.1% | - |
| Operating margin | 12.0% | - | 16.8% | 18.6% | 15.9% | - | 16.7% | 17.4% | 15.2% | - |
| EBITDA margin | 19.5% | - | 23.7% | 25.2% | 22.9% | - | 23.2% | 24.0% | 21.8% | - |
| Net margin | 4.2% | - | 8.1% | 9.8% | 7.5% | - | 8.9% | 9.6% | 7.9% | - |
| Free cash flow margin | 8.8% | - | - | - | 12.9% | - | - | - | 15.5% | - |
| FCF / Net income | 2.09 | - | - | - | 1.73 | - | - | - | 1.97 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 13.5% | - | 10.5% | 10.6% | 13.0% | - | 11.1% | 10.8% | 11.9% | - |
| Effective tax rate | 33.5% | - | 30.0% | 27.4% | 28.6% | - | 27.9% | 27.0% | 26.9% | - |
| Return on assets | 0.5% | - | 0.9% | 1.1% | 0.8% | - | 1.0% | 1.1% | 0.8% | - |
| Return on equity | 19.7% | - | 40.5% | 48.8% | 30.1% | - | 19.3% | 20.0% | 14.3% | - |
| Return on invested capital | 1.5% | - | 2.7% | 2.7% | 2.1% | - | 2.3% | 2.4% | 2.0% | - |
| Liquidity | ||||||||||
| Current ratio | 1.83 | 1.76 | 0.81 | 1.45 | 1.49 | 1.85 | 2.10 | 2.17 | 2.04 | 2.19 |
| Quick ratio | 1.81 | 1.74 | 0.80 | 1.43 | 1.47 | 1.83 | 2.08 | 2.15 | 2.02 | 2.18 |
| Cash ratio | 0.84 | 0.86 | 0.37 | 0.68 | 0.77 | 1.13 | 1.29 | 1.28 | 1.17 | 1.35 |
| Leverage | ||||||||||
| Debt / Equity | 23.58 | 23.26 | 21.05 | 23.48 | 20.40 | 10.26 | 10.45 | 9.94 | 9.29 | 8.82 |
| Debt / Assets | 0.55 | 0.55 | 0.46 | 0.54 | 0.54 | 0.53 | 0.54 | 0.53 | 0.53 | 0.53 |
| Debt / EBITDA | 25.83 | - | 17.62 | 18.77 | 22.20 | - | 20.63 | 19.87 | 23.38 | - |
| Interest coverage | 1.9x | - | 2.9x | 3.4x | 2.6x | - | 3.0x | 3.2x | 2.7x | - |
| Equity multiplier | 42.62 | 42.23 | 45.57 | 43.35 | 37.77 | 19.41 | 19.52 | 18.59 | 17.67 | 16.73 |
| Liabilities / Assets | 0.98 | 0.98 | 0.98 | 0.98 | 0.97 | 0.95 | 0.95 | 0.95 | 0.94 | 0.94 |
| Efficiency | ||||||||||
| Asset turnover | 0.11 | - | 0.11 | 0.11 | 0.11 | - | 0.11 | 0.11 | 0.10 | - |
| Inventory turnover | 30.44 | - | 29.45 | 31.12 | 30.35 | - | 31.30 | 31.34 | 31.44 | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | 12d | - | 12d | 12d | 12d | - | 12d | 12d | 12d | - |
| Days payable outstanding | 43d | - | 49d | 49d | 48d | - | 54d | 47d | 50d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 56.7x | - | 40.0x | 39.9x | 77.0x | - | 71.2x | 62.8x | 94.2x | - |
| P / B | 11.2x | - | 16.1x | 19.7x | 22.6x | - | 14.0x | 12.8x | 13.3x | - |
| P / S | 2.4x | - | 3.2x | 4.0x | 5.6x | - | 6.4x | 6.1x | 7.3x | - |
| EV / EBITDA | 35.3x | - | 28.9x | 32.5x | 44.0x | - | 44.6x | 42.0x | 52.5x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 3.3% | - | -3.0% | -1.7% | -2.1% | - | 2.9% | 1.6% | 1.1% | - |
| Revenue CAGR (3y) | 0.7% | - | 1.0% | 1.4% | 2.3% | - | 6.4% | 5.0% | 5.1% | - |
| Revenue CAGR (5y) | 3.3% | - | 4.0% | 6.9% | 5.3% | - | 5.3% | 5.6% | 5.5% | - |
| Gross profit growth (YoY) | 1.3% | - | -7.0% | -1.7% | -2.1% | - | 5.7% | 2.9% | 3.1% | - |
| Operating income growth (YoY) | -21.9% | - | -2.8% | 4.8% | 2.4% | - | -6.8% | -8.9% | -3.9% | - |
| Net income growth (YoY) | -42.1% | - | -11.9% | 0.9% | -6.6% | - | -13.5% | -8.4% | 5.5% | - |
| EPS growth (YoY) | -36.8% | - | -8.0% | 7.4% | -5.0% | - | -10.7% | -3.6% | 5.3% | - |
| EPS CAGR (3y) | -14.2% | - | -1.4% | 9.6% | 3.8% | - | 11.6% | -2.4% | 3.6% | - |
| EPS CAGR (5y) | -7.8% | - | 6.2% | 21.4% | - | - | 4.6% | 14.0% | - | - |
| FCF growth (YoY) | -29.9% | - | - | - | -18.0% | - | - | - | 102.9% | - |
| FCF CAGR (5y) | -8.8% | - | - | - | - | - | - | - | 10.2% | - |
| Book value growth (YoY) | -11.3% | -54.7% | -58.0% | -58.8% | -55.6% | -16.3% | -24.1% | -30.0% | -30.0% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-28.
Business segments
$2.18B totalWendys U.S.$1.79B · 82.0%
Global Real Estate Development$238.81M · 11.0%
Wendys International$152.96M · 7.0%
Product / service
$2.69B totalProduct$916.33M · 34.1%
Franchise Royalty Revenueand Fees$602.73M · 22.4%
Royalty$429.04M · 15.9%
Advertising$422.08M · 15.7%
Real Estate$235.75M · 8.8%
Franchise$84.10M · 3.1%
Geographic
$2.18B totalUS$1.98B · 90.9%
Non Us$199.05M · 9.1%
Peer comparison
Same SIC group: Retail-Eating & Drinking Places
Comparing Wendy's Co against the 5 most active filers in the same SIC group.
Dividends
$0.56/share trailing 12 months · -37.1% YoY
| Ex-date | Per share |
|---|---|
| Jun 1, 2026 | $0.1400 |
| Mar 2, 2026 | $0.1400 |
| Dec 1, 2025 | $0.1400 |
| Sep 2, 2025 | $0.1400 |
| Jun 2, 2025 | $0.1400 |
| Mar 3, 2025 | $0.2500 |
| Dec 2, 2024 | $0.2500 |
| Sep 3, 2024 | $0.2500 |
| Jun 3, 2024 | $0.2500 |
| Feb 29, 2024 | $0.2500 |
| Nov 30, 2023 | $0.2500 |
| Aug 31, 2023 | $0.2500 |
| May 31, 2023 | $0.2500 |
| Feb 28, 2023 | $0.2500 |
| Nov 30, 2022 | $0.1250 |
| Aug 31, 2022 | $0.1250 |
| May 31, 2022 | $0.1250 |
| Mar 4, 2022 | $0.1250 |
| Nov 30, 2021 | $0.1200 |
| Aug 31, 2021 | $0.1200 |
| May 28, 2021 | $0.1000 |
| Mar 4, 2021 | $0.0900 |
| Nov 30, 2020 | $0.0700 |
| Aug 31, 2020 | $0.0500 |