Consumer Cyclical · Restaurants
Price
$7.80
Market Cap
$1.5B
Employees
14,900
Beta
0.39
Avg Volume
13,099,762
CEO
Kenneth Cook
Business Description
The Wendy's Company, together with its subsidiaries, engages in the operation, development, and franchising of a system of quick-service restaurants in the United States and internationally. The company operates through the Wendy’s U.S., Wendy’s International, and Global Real Estate & Development segments. Its restaurants offer a menu that includes hamburger sandwiches and chicken sandwiches; chicken tenders and nuggets, chili, french fries, baked potatoes, salads, soft drinks, Frosty desserts, and kids’ meals; breakfast menu, including the Breakfast Baconator sandwich and seasoned products; and a variety of promotional products on a limited time basis. The company also owns and leases real estate properties. As of December 28, 2025, there were 5,969 Wendy’s restaurants in operation in the United States and 1,428 Wendy’s restaurants in operation in 38 foreign countries and U.S. territories. The company was formerly known as Wendy's/Arby's Group, Inc. and changed its name to The Wendy’s Company in July 2011. The Wendy's Company was founded in 1969 and is headquartered in Dublin, Ohio.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
9.18
Stock Price: $7.80
EPS (Diluted): 0.85
EPS (Diluted): 0.85
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
13.77
Stock Price: $7.80
Total Equity: $117.38M
Shares: 194,032,000
Total Equity: $117.38M
Shares: 194,032,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
10.41
Market Cap: $1.49B
Total Debt: $2.76B
Cash: $300.83M
EBITDA: $524.58M
Total Debt: $2.76B
Cash: $300.83M
EBITDA: $524.58M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$5.5B
Market Cap: $1.49B
Total Debt: $2.76B
Cash: $300.83M
Total Debt: $2.76B
Cash: $300.83M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
26.9%
Gross Profit: $585.00M
Revenue: $2.18B
Revenue: $2.18B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
15.3%
Operating Income: $332.32M
Revenue: $2.18B
Revenue: $2.18B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
7.6%
Net Income: $165.08M
Revenue: $2.18B
Revenue: $2.18B
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
140.6%
Net Income: $165.08M
Total Equity: $117.38M
Total Equity: $117.38M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
9.4%
Operating Income: $332.32M
Tax Rate: 27.4%
Equity: $117.38M
Total Debt: $2.76B
Cash: $300.83M
Tax Rate: 27.4%
Equity: $117.38M
Total Debt: $2.76B
Cash: $300.83M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.76
Current Assets: $618.04M
Current Liabilities: $351.10M
Current Liabilities: $351.10M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
23.51
Short-Term Debt: $29.75M
Long-Term Debt: $2.73B
Total Debt: $2.76B
Total Equity: $117.38M
Long-Term Debt: $2.73B
Total Debt: $2.76B
Total Equity: $117.38M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$11.22
Revenue: $2.18B
Shares: 194,032,000
Shares: 194,032,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$0.60
Total Equity: $117.38M
Shares: 194,032,000
Shares: 194,032,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$1.25
Operating CF: $344.54M
CapEx: -$101.93M
Shares: 194,032,000
CapEx: -$101.93M
Shares: 194,032,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
8.0%
Last Dividend: N/A
Stock Price: $7.80
Stock Price: $7.80
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $165.08M
Net Income: $165.08M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares WEN against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 27, 2026 3:13am (5h ago)| Metric | 2022 | 2023 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.9B | $2.1B | $2.2B | $2.2B | $2.2B |
| Cost of Revenue | $1.4B | $1.4B | $1.4B | $1.5B | $1.6B |
| Gross Profit | $536.7M | $720.8M | $776.5M | $790.0M | $585.0M |
| Operating Expenses | $169.7M | $367.4M | $394.5M | $418.7M | $252.7M |
| Operating Income | $367.0M | $353.3M | $382.0M | $371.4M | $332.3M |
| Net Income | $200.4M | $177.4M | $204.4M | $194.4M | $165.1M |
| EBITDA | $475.3M | $501.6M | $552.0M | $554.2M | $524.6M |
| EPS | $0.91 | $0.83 | $0.98 | $0.95 | $0.85 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 27, 2026 3:13am (5h ago)| Metric | 2022 | 2023 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $249.4M | $745.9M | $516.0M | $450.5M | $300.8M |
| Total Current Assets | $592.8M | $1.1B | $837.7M | $736.1M | $618.0M |
| Total Assets | $5.1B | $5.5B | $5.2B | $5.0B | $5.0B |
| Current Liabilities | $426.9M | $388.0M | $381.9M | $397.6M | $351.1M |
| Long-Term Debt | $2.4B | $2.8B | $2.7B | $2.7B | $2.7B |
| Total Liabilities | $4.7B | $5.0B | $4.9B | $4.8B | $4.8B |
| Total Equity | $436.4M | $465.7M | $309.8M | $259.4M | $117.4M |
| Retained Earnings | $344.2M | $414.7M | $409.9M | $399.7M | $435.1M |
Cash Flow (Annual)
Last updated: Jun 27, 2026 3:13am (5h ago)| Metric | 2022 | 2023 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $345.8M | $259.9M | $345.4M | $355.3M | $344.5M |
| Capital Expenditure | -$78.0M | -$85.5M | -$85.0M | -$94.4M | -$101.9M |
| Free Cash Flow | $267.8M | $174.4M | $260.4M | $260.9M | $242.6M |
| Acquisitions (net) | -$68.0M | $8.2M | $2.1M | $4.9M | -$16.9M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$268.5M | -$52.0M | -$189.6M | -$77.4M | -$200.8M |
| Net Change in Cash | -$51.3M | $464.8M | -$243.0M | -$85.2M | -$163.6M |
Growth Trends (YoY %)
Last updated: Jun 27, 2026 3:13am (5h ago)| Metric | 2023 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +10.5% | +4.1% | +3.0% | -3.1% |
| Gross Profit Growth | +34.3% | +7.7% | +1.7% | -26.0% |
| Operating Income Growth | -3.7% | +8.1% | -2.8% | -10.5% |
| Net Income Growth | -11.5% | +15.3% | -4.9% | -15.1% |
| EBITDA Growth | +5.5% | +10.0% | +0.4% | -5.3% |
Dividend History (Last 20)
Last updated: Jun 24, 2026 12:43pm (2d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-06-01 | $0.14 | 2026-05-08 | 2026-06-01 | 2026-06-15 |
| 2026-03-02 | $0.14 | 2026-02-13 | 2026-03-02 | 2026-03-16 |
| 2025-12-01 | $0.14 | 2025-11-07 | 2025-12-01 | 2025-12-15 |
| 2025-09-02 | $0.14 | 2025-08-08 | 2025-09-02 | 2025-09-16 |
| 2025-06-02 | $0.14 | 2025-05-02 | 2025-06-02 | 2025-06-16 |
| 2025-03-03 | $0.25 | 2025-02-13 | 2025-03-03 | 2025-03-17 |
| 2024-12-02 | $0.25 | 2024-10-31 | 2024-12-02 | 2024-12-16 |
| 2024-09-03 | $0.25 | 2024-08-01 | 2024-09-03 | 2024-09-17 |
| 2024-06-03 | $0.25 | 2024-05-02 | 2024-06-03 | 2024-06-17 |
| 2024-02-29 | $0.25 | 2024-02-15 | 2024-03-01 | 2024-03-15 |
| 2023-11-30 | $0.25 | 2023-11-02 | 2023-12-01 | 2023-12-15 |
| 2023-08-31 | $0.25 | 2023-08-09 | 2023-09-01 | 2023-09-15 |
| 2023-05-31 | $0.25 | 2023-05-10 | 2023-06-01 | 2023-06-15 |
| 2023-02-28 | $0.25 | 2023-01-13 | 2023-03-01 | 2023-03-15 |
| 2022-11-30 | $0.13 | 2022-11-09 | 2022-12-01 | 2022-12-15 |
| 2022-08-31 | $0.13 | 2022-08-10 | 2022-09-01 | 2022-09-15 |
| 2022-05-31 | $0.13 | 2022-05-11 | 2022-06-01 | 2022-06-15 |
| 2022-03-04 | $0.13 | 2022-02-23 | 2022-03-07 | 2022-03-15 |
| 2021-11-30 | $0.12 | 2021-11-10 | 2021-12-01 | 2021-12-15 |
| 2021-08-31 | $0.12 | 2021-08-11 | 2021-09-01 | 2021-09-15 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for WEN — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30