Wendy's Co (WEN)

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.

Ticker: WEN
Exchange: Nasdaq
Sector: Consumer Cyclical
Industry: Restaurants
Market cap: $1.56B
52-week range: $5.94 - $10.12

Valuation

Share price: $8.15 (close of Nov 6, 2026)
P/E (TTM): 16.30x
Price to book: 12.52x
Price to free cash flow: 7.03x
Enterprise value: $5.24B
Book value per share: $0.65

Price performance

Period	Change
1 day	+2.64%
5 days	+13.04%
1 month	+32.31%
3 months	+10.28%
6 months	+22.56%
Year to date	-2.16%
1 year	-7.70%
3 years	-57.26%
5 years	-64.14%
10 years	-24.88%
All time	+291.20%

Short interest

As of: Oct 15, 2026
Short % of float: 38.41%
Shares short: 52.25M
Days to cover: 9.95
Change since prior report: +7.24%
Source: FINRA consolidated short interest

Profitability and growth

Return on invested capital: 6.60%
Return on assets: 3.33%
Return on capital employed: 7.46%
Gross margin: 63.63%
Net margin: 7.58%
EBITDA margin: 22.77%
Revenue growth: -3.10%
Net income growth: -15.07%
Free cash flow growth: -7.01%

Cash flow and balance sheet

Free cash flow yield (TTM): 14.22%
Current ratio: 1.89x
Net debt to EBITDA: 8.26x

Latest reported year

Period end: Dec 28, 2025
Fiscal year: 2025
Revenue: $2.18B
Cost of revenue: $791.72M
Gross profit: $1.39B
EBITDA: $495.67M
Net income: $165.07M
Earnings per share: $0.85
Interest expense: $126.47M
Shares outstanding: 193.41M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-28	$2.18B	$1.39B	$165.07M	$0.85
2024-12-29	$2.25B	$1.46B	$194.36M	$0.95
2023-12-31	$2.18B	$1.39B	$204.44M	$0.98
2023-01-01	$2.10B	$1.32B	$177.37M	$0.83
2022-01-02	$1.90B	$1.29B	$200.39M	$0.91
2021-01-03	$1.73B	$1.12B	$117.83M	$0.53
2019-12-29	$1.71B	$1.11B	$136.94M	$0.60
2018-12-30	$1.59B	$1.04B	$460.12M	$1.93
2017-12-31	$1.22B	$705.47M	$194.03M	$0.79
2017-01-01	$1.44B	$683.34M	$129.62M	$0.49

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-28	63.63%	7.58%	-	6.60%
2024-12-29	65.14%	8.65%	74.94%	6.74%
2023-12-31	63.58%	9.37%	66.00%	6.90%
2023-01-01	63.10%	8.46%	38.09%	6.05%
2022-01-02	67.76%	10.56%	45.92%	7.61%
2021-01-03	64.53%	6.80%	21.44%	5.55%
2019-12-29	65.04%	8.01%	26.52%	5.39%
2018-12-30	65.50%	28.94%	70.96%	4.54%
2017-12-31	57.66%	15.86%	33.85%	6.45%
2017-01-01	47.61%	9.03%	24.56%	7.98%

Cash and debt by year

Period end	Cash	Debt
2025-12-28	$300.83M	$2.73B
2024-12-29	$450.51M	$2.66B
2023-12-31	$516.04M	$2.73B
2023-01-01	$745.89M	$2.82B
2022-01-02	$249.44M	$2.36B
2021-01-03	$306.99M	$2.22B
2019-12-29	$300.19M	$2.26B
2018-12-30	$431.40M	$2.31B
2017-12-31	$171.45M	$2.72B
2017-01-01	$198.24M	$2.49B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-28	$242.62M	$14.57M
2024-12-29	$260.92M	$23.02M
2023-12-31	$260.39M	$23.75M
2023-01-01	$174.36M	$24.54M
2022-01-02	$267.79M	$22.02M
2021-01-03	$215.39M	$18.93M
2019-12-29	$214.48M	$18.68M
2018-12-30	$154.37M	$17.92M
2017-12-31	$157.08M	$20.93M
2017-01-01	$43.80M	$18.14M

Dividend history

Most recent payment: Sep 1, 2026
Paid in the last twelve months: $0.49

Payment date	Dividend per share
2026-09-01	$0.07
2026-06-01	$0.14
2026-03-02	$0.14
2025-12-01	$0.14
2025-09-02	$0.14
2025-06-02	$0.14
2025-03-03	$0.25
2024-12-02	$0.25

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-05	Sep 2026	$0.10
2026-08-07	Jun 2026	$0.16
2026-05-08	Mar 2026	$0.10
2026-02-13	Dec 2025	$0.14
2025-11-07	Sep 2025	$0.20
2025-08-08	Jun 2025	$0.25
2025-05-02	Mar 2025	$0.20
2025-02-13	Dec 2024	$0.24

Filings and sources

Company website: wendys.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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