The Wendy's Company

WEN

WENThe Wendy's Company US flag

NASDAQ Global Select

6.71

USD

-0.04

- -

1.28BMarket Cap

Income Statement (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	2,431	2,505	2,424	1,999	1,870	1,435	1,223	1,590	1,709	1,734	1,897	2,096	2,182	2,246	2,177
+ Sales & Services Revenue	2,431	2,505	2,424	1,999	1,870	1,435	1,223	1,590	1,709	1,734	1,897	2,096	2,182	2,246	2,177
- Cost of Revenue	1,816	1,881	1,781	1,393	1,232	827	622	987	1,103	1,112	1,360	1,375	1,558	1,617	1,588
+ Cost of Goods & Services	1,816	1,881	1,781	1,393	1,232	827	622	987	1,103	1,112	1,360	1,375	1,558	1,617	1,588
Gross Profit	615	624	643	606	638	609	601	603	606	621	537	721	623	629	589
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	420	439	472	403	391	340	321	340	320	331	192	367	232	241	234
+ Selling, General & Admin	292	288	292	261	257	237	204	217	200	207	81	255	97	94	85
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	127	151	180	142	135	103	117	122	120	124	111	112	135	146	149
Operating Income (Loss)	196	185	171	203	247	269	281	263	285	290	344	354	392	388	354
- Non-Operating (Income) Loss	171	198	107	10	13	67	179	-312	114	137	104	110	112	116	127
+ Interest Expense, Net	114	99	69	52	86	115	118	92	90	89	109	122	124	124	126
+ Interest Expense	114	99	69	52	86	115	118	120	116	118	109	122	124	124	126
- Interest Income	- -	- -	- -	- -	- -	- -	- -	28	26	29	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	57	99	39	-42	-73	-47	61	-404	24	49	-6	-12	-12	-8	1
Pretax Income	24	-13	64	193	234	202	101	575	171	153	241	244	279	272	227
- Income Tax Expense (Benefit)	7	-21	16	76	94	72	-93	115	35	35	40	66	75	78	62
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	18	8	48	116	140	130	194	460	137	118	200	177	204	194	165
- Net Extraordinary Losses (Gains)	8	3	1	-5	-21	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	-8	2	-3	5	21	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	16	2	4	-10	-42	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	10	5	46	121	161	130	194	460	137	118	200	177	204	194	165
- Minority Interest	- -	-2	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	10	7	45	121	161	130	194	460	137	118	200	177	204	194	165
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	10	7	45	121	161	130	194	460	137	118	200	177	204	194	165
EBIT	196	185	171	203	247	269	281	263	285	290	344	354	392	388	354
EBITDA	341	339	371	362	401	393	406	392	417	423	470	489	540	546	525
EBITDA Margin (%)	14.03	13.53	15.31	18.14	21.45	27.41	33.2	24.66	24.4	24.4	24.76	23.36	24.76	24.32	24.13
EBITA	196	185	171	203	247	269	281	263	285	290	344	354	392	388	354
Gross Margin (%)	25.3	24.91	26.52	30.3	34.14	42.41	49.14	37.94	35.44	35.84	28.29	34.4	28.57	28.01	27.04
Operating Margin (%)	8.05	7.38	7.05	10.14	13.23	18.75	22.93	16.55	16.69	16.74	18.14	16.88	17.95	17.29	16.28
Profit Margin (%)	0.41	0.28	1.88	6.08	8.62	9.03	15.86	28.94	8.01	6.8	10.56	8.46	9.37	8.65	7.58
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.08	0.1	0.18	0.2	0.22	0.24	0.28	0.34	0.42	0.29	0.43	0.5	1	1	0.67
Depreciation Expense	145	154	200	160	154	124	126	129	132	133	126	136	149	158	171
Basic Weighted Avg Shares	405	390	393	370	323	262	244	238	230	224	221	214	209	204	193
Basic EPS, GAAP	0.02	0.02	0.12	0.33	0.5	0.49	0.79	1.93	0.6	0.53	0.91	0.83	0.98	0.95	0.85
Basic EPS from Cont Ops	0.04	0.02	0.12	0.31	0.43	0.49	0.79	1.93	0.6	0.53	0.91	0.83	0.98	0.95	0.85
Diluted Weighted Avg Shares	407	392	399	376	329	267	252	245	235	228	224	216	212	206	194
Diluted EPS, GAAP	0.02	0.02	0.11	0.32	0.49	0.49	0.77	1.88	0.58	0.52	0.89	0.82	0.97	0.95	0.85
Diluted EPS from Cont Ops	0.04	0.02	0.12	0.31	0.43	0.49	0.77	1.88	0.58	0.52	0.89	0.82	0.97	0.95	0.85

Balance Sheet (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	735	710	922	562	617	453	404	666	554	688	593	1,058	838	736	618
+ Cash, Cash Equivalents & STI	475	453	580	267	327	198	171	431	300	307	249	746	516	451	301
+ Cash & Cash Equivalents	475	453	580	267	327	198	171	431	300	307	249	746	516	451	301
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	68	61	63	68	105	99	114	110	117	110	120	116	122	100	117
+ Accounts Receivable, Net	71	65	66	66	106	100	116	112	101	94	102	99	105	87	105
+ Notes Receivable, Net	1	2	1	4	2	3	3	3	17	16	18	18	17	13	12
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	-4	-6	-4	-2	-3	-4	-5	-5	- -	- -	- -	- -	- -	- -	- -
+ Inventories	13	14	10	7	4	3	3	4	4	5	6	7	7	7	7
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	13	14	10	7	4	3	3	4	4	5	6	7	7	7	7
+ Other ST Assets	179	181	269	220	180	153	115	121	132	266	218	189	193	179	192
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	3,554	3,593	3,441	3,575	3,492	3,487	3,693	3,626	4,440	4,352	4,509	4,441	4,345	4,299	4,339
+ Property, Plant & Equip, Net	1,192	1,250	1,165	1,241	1,228	1,192	1,263	1,213	2,034	1,944	1,964	1,885	1,826	1,833	1,893
+ Property, Plant & Equip	1,491	1,650	1,640	1,664	1,634	1,608	1,753	1,744	2,626	2,625	2,701	2,684	2,694	2,758	2,878
- Accumulated Depreciation	298	399	474	423	406	415	490	531	592	681	737	799	868	926	985
+ LT Investments & Receivables	119	113	83	74	58	181	285	274	303	313	350	363	348	317	310
+ LT Investments	119	113	83	74	58	181	285	274	303	313	350	363	348	317	310
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	2,242	2,230	2,192	2,260	2,206	2,114	2,144	2,139	2,104	2,096	2,195	2,193	2,171	2,149	2,135
+ Total Intangible Assets	2,175	2,178	2,148	2,174	2,110	2,064	2,065	2,042	2,003	1,976	2,056	2,022	1,993	1,964	1,945
+ Goodwill	870	876	843	823	771	741	743	748	756	751	775	773	774	771	774
+ Other Intangible Assets	1,304	1,302	1,306	1,351	1,340	1,323	1,322	1,294	1,247	1,225	1,281	1,249	1,219	1,192	1,171
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	68	52	44	86	95	50	80	97	100	120	139	171	179	185	190
Total Assets	4,289	4,303	4,363	4,138	4,109	3,939	4,097	4,292	4,995	5,040	5,101	5,499	5,183	5,035	4,957
+ Payables & Accruals	148	106	105	101	74	49	43	43	47	97	69	74	56	57	59
+ Accounts Payable	81	71	84	77	54	28	23	22	23	31	41	44	27	28	30
+ Accrued Taxes	37	29	22	23	20	22	20	21	24	27	28	30	28	28	28
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	30	6	- -	- -	- -	- -	- -	- -	- -	38	- -	- -	- -	- -	- -
+ ST Debt	7	13	39	53	23	25	30	32	78	86	87	96	99	151	108
+ ST Borrowings	7	13	39	53	23	25	30	23	23	29	24	29	29	78	30
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	8	55	57	63	66	70	73	78
+ Other ST Liabilities	182	168	205	186	172	156	154	210	226	230	271	218	228	190	185
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	182	168	205	186	172	156	154	210	226	230	271	218	228	190	185
Total Current Liabilities	337	287	350	340	269	230	227	284	350	413	427	388	382	398	351
+ LT Debt	1,350	1,445	1,425	1,385	2,403	2,488	2,724	2,753	3,636	3,590	3,769	4,186	4,041	3,942	4,037
+ LT Borrowings	1,350	1,445	1,425	1,385	2,403	2,488	2,724	2,306	2,258	2,218	2,356	2,822	2,733	2,662	2,731
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	447	1,379	1,371	1,413	1,364	1,308	1,280	1,307
+ Other LT Liabilities	606	586	659	695	684	694	572	607	492	488	469	460	450	436	451
+ Accrued Liabilities	458	438	482	494	460	447	310	361	363	370	356	361	360	352	376
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	148	148	176	201	224	247	262	245	130	118	113	99	90	84	75
Total Noncurrent Liabilities	1,956	2,030	2,084	2,080	3,087	3,181	3,297	3,359	4,128	4,077	4,238	4,646	4,491	4,378	4,488
Total Liabilities	2,293	2,317	2,434	2,420	3,356	3,412	3,524	3,644	4,478	4,490	4,665	5,034	4,873	4,775	4,839
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	2,827	2,830	2,841	2,874	2,922	2,926	2,933	2,932	2,921	2,946	2,946	2,985	3,007	3,029	3,033
+ Common Stock	47	47	47	47	47	47	47	47	47	47	47	47	47	47	47
+ Additional Paid in Capital	2,780	2,783	2,794	2,827	2,875	2,879	2,886	2,885	2,874	2,899	2,899	2,938	2,960	2,982	2,986
- Treasury Stock	396	383	409	679	1,741	2,044	2,150	2,368	2,537	2,586	2,805	2,870	3,049	3,095	3,287
+ Retained Earnings	-435	-467	-492	-446	-357	-291	-163	146	186	239	344	415	410	400	435
+ Other Equity	- -	6	-10	-31	-71	-63	-46	-62	-54	-50	-48	-64	-58	-75	-64
Equity Before Minority Interest	1,996	1,986	1,929	1,718	753	528	573	648	516	550	436	466	310	259	117
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	1,996	1,986	1,929	1,718	753	528	573	648	516	550	436	466	310	259	117
Total Liabilities & Equity	4,289	4,303	4,363	4,138	4,109	3,939	4,097	4,292	4,995	5,040	5,101	5,499	5,183	5,035	4,957
Shares Outstanding	390	392	393	366	272	246	241	231	225	224	216	213	205	204	190
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	456	1,433	1,429	1,476	1,430	1,378	1,352	1,385
Net Debt	882	1,004	884	1,171	2,099	2,314	2,583	1,897	1,980	1,940	2,131	2,106	2,246	2,290	2,459
Net Debt to Equity	44.18	50.57	45.8	68.18	278.77	438.48	450.62	292.61	383.48	353.01	488.36	452.11	725.04	882.89	2,095.21
Tangible Common Equity Ratio	-8.45	-9.03	-9.88	-23.24	-67.93	-81.91	-73.41	-61.94	-49.7	-46.55	-53.19	-44.75	-52.76	-55.5	-60.67
Current Ratio	2.18	2.47	2.64	1.65	2.29	1.97	1.78	2.34	1.58	1.66	1.39	2.73	2.19	1.85	1.76
Cash Conversion Cycle	-1.38	-2.25	-3.56	-6.86	-0.97	9.77	19.2	19.21	16.59	13.04	10.53	7.86	10.27	10.76	10.91

Cash Flow Statement (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	10	9	45	121	161	130	194	460	137	118	200	177	204	194	165
+ Depreciation & Amortization	145	154	200	160	154	124	126	129	132	133	126	136	149	158	171
+ Non-Cash Items	80	77	76	17	45	-40	-50	-422	2	27	-11	-8	15	24	60
+ Stock-Based Compensation	18	11	20	28	23	18	21	18	19	19	22	25	24	23	15
+ Deferred Income Taxes	2	-32	13	70	89	-14	-119	-7	1	10	-14	4	-1	-6	23
+ Asset Impairment Charge	14	21	46	20	25	16	4	5	7	8	2	6	1	10	12
+ Other Non-Cash Adj	46	76	-2	-100	-92	-60	44	-438	-25	-10	-21	-43	-9	-3	10
+ Chg in Non-Cash Work Cap	12	-50	9	-44	-86	-20	-31	57	19	7	31	-45	-23	-21	-52
+ (Inc) Dec in Accts Receiv	-3	4	- -	-3	-40	-34	-17	13	17	-16	-6	-6	- -	-5	-19
+ (Inc) Dec in Inventories	-1	-1	1	1	- -	- -	- -	- -	- -	-1	-1	-1	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	-8	-1	-5	-3	-5	-3	-3	7	-2	-9	-3	7	-1	-2	-1
+ Inc (Dec) in Accts Payable	22	-52	12	-39	-16	12	3	24	6	-17	29	-14	-5	6	-27
+ Inc (Dec) in Other	- -	- -	- -	- -	-24	6	-12	14	-3	49	12	-31	-18	-21	-4
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	247	190	330	255	274	194	239	224	289	284	346	260	345	355	345
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-158	- -	-69	-301	-1,099	-337	-126	-270	-218	-62	-269	-52	-190	-77	-201
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-158	- -	-69	-301	-1,099	-337	-126	-270	-218	-62	-269	-52	-190	-77	-201
+ Net Change in LT Investment	- -	28	3	1	-1	1	4	450	24	- -	-10	-4	-8	-41	-38
+ Dec in LT Investment	- -	28	3	2	1	1	4	450	24	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	-1	- -	- -	-1	-2	- -	- -	- -	- -	- -	-10	-4	-8	-41	-38
+ Net Cash From Acq & Div	92	-20	144	107	282	260	-5	-18	-2	1	-68	8	2	5	-12
+ Cash from Divestitures	105	21	149	161	283	262	82	3	3	6	55	8	2	5	4
+ Cash for Acq of Subs	-12	-41	-5	-54	-1	-2	-87	-21	-5	-5	-123	- -	- -	- -	-17
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-150	-198	-224	-296	-245	-154	-91	-69	-78	-70	-77	-82	-81	-93	-100
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-58	-189	-77	-188	35	107	-92	363	-55	-68	-155	-78	-87	-129	-151
+ Dividends Paid	-32	-39	-71	-75	-72	-64	-68	-81	-96	-65	-95	-107	-209	-204	-130
+ Net Cash From Debt	-39	26	-24	-38	967	-25	-27	35	-57	-47	116	456	-116	-50	-3
+ Cash From Debt	- -	1,114	575	- -	2,294	- -	31	935	850	153	1,100	500	- -	- -	476
+ Repayments of Debt	-39	-1,087	-599	-38	-1,327	-25	-58	-900	-907	-200	-984	-44	-116	-50	-479
+ Other Financing Activities	4	-11	41	40	-34	13	6	10	6	16	5	-9	11	28	-11
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-225	-24	-123	-375	-238	-412	-216	-306	-365	-158	-243	289	-504	-303	-344
Effect of Foreign Exchange Rates	-1	1	-3	-5	-12	2	6	-8	3	1	- -	-6	2	-8	4
Net Changes in Cash	-36	-23	130	-308	72	-111	-69	281	-131	58	-52	471	-245	-77	-150
EBITDA	341	339	371	362	401	393	406	392	417	423	470	489	540	546	525
EBITDA Margin (%)	14.03	13.53	15.31	18.14	21.45	27.41	33.2	24.66	24.4	24.4	24.76	23.36	24.76	24.32	24.13
Free Cash Flow	247	190	330	255	274	194	239	224	289	284	346	260	345	355	345
Net Cash Paid for Acquisitions	-92	20	-144	-107	-282	-260	5	18	2	-1	68	-8	-2	-5	12
Free Cash Flow to Firm	330	- -	381	286	326	268	- -	320	382	375	437	349	436	444	436
Free Cash Flow to Equity	208	217	306	216	1,241	169	212	259	232	238	462	716	229	306	342
Free Cash Flow per Basic Share	0.61	0.49	0.84	0.69	0.85	0.74	0.98	0.94	1.26	1.27	1.56	1.22	1.65	1.74	1.78
Price/Free Cash Flow	8.85	9.68	10.54	13.33	12.91	18.6	17.35	17.05	18.07	17.58	15.48	18.79	11.93	9.43	4.69
Cash Flow to Net Income	24.98	26.88	7.25	2.1	1.7	1.5	1.23	0.49	2.11	2.41	1.73	1.47	1.69	1.83	2.09
Capital Expenditures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -