A Business at a Glance
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Wendy's Co
WEN
$1.4B
Mkt Cap
$6.99
-2.51%
Wendy's Co (WEN) has a current P/E ratio of 8.2, compared to its historical median P/E of 20.8. The stock is currently considered Cheap based on its historical valuation range.
Wendy's Co (WEN) has a 5-year average return on invested capital (ROIC) of 9.5%. This is below average and may indicate limited pricing power.
Wendy's Co (WEN) has a market capitalization of $1.4B. It is classified as a small-cap stock.
Yes, Wendy's Co (WEN) pays a dividend with a trailing twelve-month yield of 9.55%. The company also returns capital through share buybacks, with a buyback yield of 14.79%.
Based on historical P/E analysis, Wendy's Co (WEN) appears cheap. The current P/E of 8.2 is 60% below its historical median of 20.8. The estimated fair value CAGR (P/E method) is 5.3%.
Wendy's Co (WEN) operates in the Retail-Eating & Drinking Places industry, within the Consumer Cyclical sector.
Wendy's Co (WEN) reported annual revenue of $2.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
Company Overview Wendy’s is primarily engaged in the business of operating, developing and franchising a system of distinctive quick-service restaurants serving high quality food. Wendy’s opened its first restaurant in Columbus, Ohio in 1969. Today, Wendy’s is the second largest quick-service restaurant company in the hamburger sandwich segment in the United States (the “U.S.”) based on traffic and dollar share, and the third largest globally with 7,397 restaurants in the U.S. and 38 foreign countries and U.S. territories as of December 28, 2025. At December 28, 2025, there were 5,969 Wendy’s restaurants in operation in the U.S. Of these restaurants, 423 were operated by the Company and 5,546 were operated by a total of 203 franchisees. In addition, at December 28, 2025, there were 1,428 Wendy’s restaurants in operation in 38 foreign countries and U.S. territories.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.2B | 2.2B | 2.2B | 2.2B | 1.9B | 1.7B |
| Net Income | 165M | 165M | 194M | 204M | 200M | 118M |
| EPS | $0.85 | $0.85 | $0.95 | $0.97 | $0.89 | $0.52 |
| Free Cash Flow | 243M | 243M | 261M | 260M | 268M | 215M |
| ROIC | 7.6% | 8.5% | 9.0% | 9.5% | 12.2% | 8.3% |
| Gross Margin | 63.6% | 63.6% | 65.1% | 63.6% | 67.8% | 64.5% |
| Debt/Equity | 29.58 | 29.58 | 13.47 | 11.46 | 5.46 | 4.09 |
| Dividends/Share | $0.67 | $0.67 | $1.00 | $1.00 | $0.43 | $0.29 |
| Operating Income | 343M | 343M | 371M | 382M | 367M | 269M |
| Operating Margin | 15.8% | 15.8% | 16.5% | 17.5% | 19.3% | 15.5% |
| ROE | 140.6% | 87.6% | 68.3% | 54.8% | 40.6% | 21.4% |
| Shares Outstanding | 194M | 194M | 205M | 211M | 225M | 227M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 2.5B | 2.4B | 2.0B | 1.9B | 1.4B | 1.6B | 1.7B | 1.7B | 1.9B | 2.2B | 2.2B | 2.2B | 2.2B |
| Gross Margin | 24.9% | 26.5% | 32.2% | 36.7% | 47.6% | 65.5% | 65.0% | 64.5% | 67.8% | 63.6% | 65.1% | 63.6% | 63.6% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 288M | 292M | 261M | 257M | 237M | 217M | 200M | 207M | 243M | 250M | 255M | 253M | 253M |
| EBIT | 123M | 139M | 243M | 274M | 315M | 250M | 263M | 269M | 367M | 382M | 371M | 343M | 343M |
| Op. Margin | 4.9% | 5.7% | 12.1% | 14.7% | 21.9% | 15.7% | 15.4% | 15.5% | 19.3% | 17.5% | 16.5% | 15.8% | 15.8% |
| Net Income | 7.1M | 45M | 121M | 161M | 130M | 460M | 137M | 118M | 200M | 204M | 194M | 165M | 165M |
| Net Margin | 0.3% | 1.9% | 6.1% | 8.6% | 9.0% | 28.9% | 8.0% | 6.8% | 10.6% | 9.4% | 8.7% | 7.6% | 7.6% |
| Non-Recurring | 41M | 93M | 123M | 121M | 98M | 14M | 25M | 27M | 44M | 11M | 19M | 13M | 13M |
| Returns on Capital | |||||||||||||
| ROIC | 3.9% | 3.6% | 5.1% | 5.8% | 6.8% | 7.0% | 7.0% | 8.3% | 12.2% | 9.5% | 9.0% | 8.5% | 7.6% |
| ROE | 0.3% | 2.3% | 6.7% | 21.4% | 19.5% | 75.3% | 23.5% | 21.4% | 40.6% | 54.8% | 68.3% | 87.6% | 140.6% |
| ROA | 0.2% | 1.0% | 2.9% | 3.9% | 3.2% | 11.0% | 2.9% | 2.3% | 4.0% | 4.0% | 3.8% | 3.3% | 3.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 190M | 330M | 255M | 274M | 194M | 224M | 289M | 284M | 346M | 345M | 355M | 345M | 345M |
| Free Cash Flow | -7.2M | 106M | -44M | 23M | 44M | 154M | 214M | 215M | 268M | 260M | 261M | 243M | 243M |
| Owner Earnings | 25M | 110M | 67M | 97M | 51M | 77M | 139M | 133M | 198M | 186M | 189M | 178M | 178M |
| CapEx | 198M | 224M | 298M | 252M | 150M | 70M | 74M | 69M | 78M | 85M | 94M | 102M | 102M |
| Maint. CapEx | 154M | 200M | 160M | 154M | 124M | 129M | 132M | 133M | 126M | 136M | 143M | 152M | 152M |
| Growth CapEx | 43M | 24M | 139M | 98M | 26M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 154M | 200M | 160M | 154M | 124M | 129M | 132M | 133M | 126M | 136M | 143M | 152M | 152M |
| CapEx/OCF | 59.5% | 68.0% | 117.2% | 118.4% | 77.4% | 31.2% | 25.8% | 24.3% | 22.6% | 32.9% | 26.6% | 29.6% | 29.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 39M | 71M | 75M | 72M | 64M | 81M | 96M | 65M | 95M | 209M | 204M | 130M | 130M |
| Dividend Yield | 3.5% | 3.7% | 3.3% | 2.8% | 2.2% | 2.5% | 2.7% | 1.6% | 2.5% | 5.5% | 6.2% | 6.1% | 9.5% |
| Share Buybacks | 0 | 69M | 301M | 1.1B | 337M | 270M | 218M | 62M | 269M | 190M | 77M | 201M | 201M |
| Buyback Yield | 10.0% | 2.8% | 12.6% | 32.8% | 10.2% | 9.2% | 5.3% | 1.4% | 6.3% | 1.4% | 2.5% | 12.6% | 14.8% |
| Stock-Based Comp | 11M | 20M | 28M | 23M | 18M | 18M | 19M | 19M | 22M | 24M | 23M | 15M | 15M |
| Debt Repayment | 1.0B | 590M | 38M | 1.3B | 25M | 895M | 900M | 191M | 970M | 95M | 29M | 454M | 454M |
| Balance Sheet | |||||||||||||
| Net Debt | 1.0B | 909M | 1.2B | 2.1B | 2.6B | 1.9B | 2.9B | 1.9B | 2.1B | 3.0B | 3.0B | 3.2B | 3.2B |
| Cash & Equiv. | 453M | 580M | 267M | 327M | 171M | 431M | 300M | 307M | 249M | 516M | 451M | 301M | 301M |
| Long-Term Debt | 1.4B | 1.4B | 1.4B | 2.4B | 2.7B | 2.3B | 2.3B | 2.2B | 2.4B | 2.7B | 2.7B | 2.7B | 2.7B |
| Debt/Equity | 0.75 | 0.77 | 0.84 | 3.22 | 4.81 | 3.59 | 6.24 | 4.09 | 5.46 | 11.46 | 13.47 | 29.58 | 29.58 |
| Interest Coverage | 1.2 | 2.0 | 4.7 | 3.2 | 2.7 | 2.1 | 2.3 | 2.3 | 3.4 | 3.1 | 8.6 | 7.7 | 7.7 |
| Equity | 2.0B | 1.9B | 1.7B | 753M | 573M | 648M | 516M | 550M | 436M | 310M | 259M | 117M | 117M |
| Total Assets | 4.3B | 4.4B | 4.1B | 4.1B | 4.1B | 4.3B | 5.0B | 5.0B | 5.1B | 5.2B | 5.0B | 5.0B | 5.0B |
| Total Liabilities | 628M | 575M | 2.4B | 3.4B | 3.5B | 3.6B | 4.5B | 4.5B | 4.7B | 4.9B | 4.8B | 4.8B | 4.8B |
| Intangibles | 1.3B | 1.3B | 1.4B | 1.3B | 1.3B | 1.3B | 1.2B | 1.2B | 1.3B | 1.2B | 1.2B | 1.2B | 1.2B |
| Retained Earnings | -467M | -492M | -446M | -357M | -163M | 146M | 186M | 239M | 344M | 410M | 400M | 435M | 435M |
| Working Capital | 423M | 573M | 222M | 348M | 177M | 382M | 204M | 274M | 166M | 456M | 339M | 267M | 267M |
| Current Assets | 710M | 922M | 562M | 617M | 404M | 666M | 554M | 688M | 593M | 838M | 736M | 618M | 618M |
| Current Liabilities | 287M | 350M | 340M | 269M | 227M | 284M | 350M | 413M | 427M | 382M | 398M | 351M | 351M |
| Per Share Data | |||||||||||||
| EPS | 0.02 | 0.11 | 0.32 | 0.49 | 0.49 | 1.88 | 0.58 | 0.52 | 0.89 | 0.97 | 0.95 | 0.85 | 0.85 |
| Owner EPS | 0.07 | 0.27 | 0.18 | 0.30 | 0.19 | 0.32 | 0.59 | 0.59 | 0.88 | 0.88 | 0.92 | 0.92 | 0.92 |
| Book Value | 5.61 | 4.67 | 4.53 | 2.29 | 2.17 | 2.65 | 2.19 | 2.43 | 1.94 | 1.47 | 1.27 | 0.60 | 0.60 |
| Cash Flow/Share | 0.54 | 0.80 | 0.67 | 0.83 | 0.73 | 0.92 | 1.22 | 1.25 | 1.54 | 1.64 | 1.74 | 1.77 | 1.63 |
| Dividends/Share | 0.10 | 0.18 | 0.21 | 0.23 | 0.25 | 0.34 | 0.42 | 0.29 | 0.43 | 1.00 | 1.00 | 0.67 | 0.67 |
| Shares Out. | 354.1M | 413.5M | 379.5M | 328.9M | 264.5M | 244.7M | 236.1M | 226.6M | 225.2M | 210.8M | 204.6M | 194.2M | 194.2M |
| Valuation | |||||||||||||
| P/E Ratio | 159.4 | 55.2 | 19.7 | 20.8 | 25.5 | 6.4 | 30.0 | 37.0 | 21.2 | 20.8 | 16.1 | 9.6 | 8.2 |
| P/FCF | N/A | 23.8 | N/A | 147.6 | 75.4 | 19.1 | 19.2 | 20.3 | 15.9 | 13.8 | 12.0 | 6.6 | 5.6 |
| EV/EBIT | 15.6 | 21.1 | 13.8 | 18.7 | 18.2 | 17.7 | 22.2 | 22.4 | 16.8 | 15.4 | 13.6 | 11.0 | 13.2 |
| Price/Book | 0.8 | 1.3 | 1.4 | 4.4 | 5.8 | 4.5 | 8.0 | 7.9 | 9.8 | 11.9 | 12.1 | 13.6 | 11.6 |
| Price/Sales | 0.6 | 0.8 | 1.1 | 1.4 | 2.0 | 2.0 | 2.1 | 2.3 | 2.0 | 1.9 | 1.5 | 1.0 | 0.6 |
| FCF Yield | -0.5% | 4.2% | -1.8% | 0.7% | 1.3% | 5.2% | 5.2% | 4.9% | 6.3% | 7.0% | 8.3% | 15.2% | 17.9% |
| Market Cap | 1.6B | 2.5B | 2.4B | 3.3B | 3.3B | 2.9B | 4.1B | 4.4B | 4.3B | 3.7B | 3.1B | 1.6B | 1.4B |
| Avg. Price | 3.12 | 4.63 | 5.97 | 7.77 | 11.07 | 12.98 | 14.95 | 17.84 | 17.08 | 17.96 | 16.22 | 10.95 | 6.99 |
| Year-End Price | 3.19 | 6.07 | 6.32 | 10.18 | 12.48 | 12.03 | 17.43 | 19.25 | 18.90 | 17.09 | 15.28 | 8.20 | 6.99 |
Wendy's Co passes 6 of 9 quality checks, suggesting mixed fundamentals.
Wendy's Co trades at 8.2x trailing earnings, compared to its 15-year median P/E of 20.8x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 5.5x vs a median of 17.5x. The company's 5-year average ROIC is 9.5% with a gross margin of 64.9%. Total shareholder yield (dividends + buybacks) is 24.3%. At current prices, the estimated annualized return to fair value is +12.7%.
Wendy's Co (WEN) has a net profit margin of 7.6%. This is a modest margin.
Wendy's Co (WEN) generated $243 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Wendy's Co (WEN) has a debt-to-equity ratio of 29.58. This indicates higher leverage, which may increase financial risk.
Wendy's Co (WEN) reported earnings per share (EPS) of $0.85 in its most recent fiscal year.
Wendy's Co (WEN) has a return on equity (ROE) of 87.6%. This indicates the company generates strong returns for shareholders.
Wendy's Co (WEN) has a 5-year average gross margin of 64.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for Wendy's Co (WEN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Wendy's Co (WEN) has a book value per share of $0.60, based on its most recent annual SEC filing.
No recent press releases.