WENNasdaqRetail-Eating & Drinking PlacesFiscal year ends January 3
Wendy's Co
Financials through Q2 FY2026, quarter ended Jun 28, 2026Last filing: 10-Q on Aug 7, 2026
$6.68−0.02 (-0.30%)
Close on Oct 19, 2026
- Market cap
- $1.28B
- P/E (TTM)
- 10.1
- Dividend yield
- 10.03%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
63.6%−0.9 pts over 5 years
Operating margin
15.8%+0.2 pts over 5 years
Net margin
7.6%+0.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -3.1% | +1.3% | +4.7% | +1.5% | |
| Gross profit | -5.3% | +1.6% | +4.4% | +7.3% | |
| Operating income | -7.5% | -0.9% | +5.0% | +2.3% | |
| Net income | -15.1% | -2.4% | +7.0% | +0.2% | |
| EPS, diluted | -10.5% | +1.2% | +10.3% | +5.7% | |
| Free cash flow | -7.0% | +11.6% | +2.4% | +26.7% | |
| Dividend per share | -33.0% | +10.2% | +18.2% | +11.5% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 20.2% | 22.1% | 87.6% | |
| Return on assets | 3.2% | 2.3% | 3.3% | |
| Current ratio | 1.97 | 1.66 | 1.76 | |
| Debt to equity | 4.76 | 4.09 | 23.51 | |
| Net debt to EBITDA | 5.09× | 4.55× | 4.96× | |
| Interest coverage | 2.7× | 2.3× | 2.7× | |
| Inventory turnover | 210.0× | 142.6× | 113.8× | |
| Capex to revenue | 10.5% | 4.0% | 4.7% | |
| Diluted shares | 267M | 228M | 194M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Wendy's generated $1.65B from operations and spent $1.98B on capital expenditure, dividends and share buybacks. 22% of that went back into the business.
Generated
$1.65B
Used
$1.98B
Capital expenditure$444.86M22%Dividends$744.91M38%Share buybacks$788.18M40%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin7.6%
×Asset turnover0.44×
×Equity multiplier26.52×
=Return on equity, FY202587.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 7.6% | 0.44× | 26.52× | 87.6% |
| FY2024 | 8.7% | 0.44× | 17.95× | 68.3% |
| FY2023 | 9.4% | 0.41× | 13.77× | 52.7% |
| FY2022 | 8.5% | 0.40× | 11.75× | 39.3% |
| FY2021 | 10.6% | 0.37× | 10.29× | 40.6% |
| FY2020 | 6.8% | 0.35× | 9.41× | 22.1% |
| FY2019 | 8.0% | 0.37× | 7.97× | 23.5% |
| FY2018 | 28.9% | 0.38× | 6.87× | 75.3% |
| FY2017 | 15.9% | 0.30× | 7.30× | 35.2% |
| FY2016 | 9.0% | 0.36× | 6.28× | 20.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$165.08M
- Cash generatingOperating cash flow above zero$344.54M
- Return on assets improvedROA up on the prior year3.8% → 3.3%
- Earnings backed by cashOperating cash flow above net income$344.54M vs $165.08M
- Less leverageLong-term debt to assets fell52.9% → 55.1%
- Better liquidityCurrent ratio rose1.85 → 1.76
- No dilutionShare count did not rise206M → 194M
- Gross margin improvedGross margin up on the prior year65.14% → 63.63%
- More efficientAsset turnover rose0.43 → 0.43