Revenue
$2.18B
Fiscal year ended 2025-12-28Operating income
$343.45M
Fiscal year ended 2025-12-28Free cash flow
Unavailable
Fiscal year ended 2025-12-28Wendy's Co (WEN) reported revenue of $2.18B and net income of $165.08M for the fiscal year ended 2025-12-28. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from Wendy's Co’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Retail-Eating & Drinking Places.
Income
| Metric | 2025-12-28 | 2024-12-29 | 2023-12-31 | 2023-01-01 | 2022-01-02 | 2021-01-03 | 2019-12-29 | 2018-12-30 | 2017-12-31 | 2017-01-01 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.18B | $2.25B | $2.18B | $2.10B | $1.90B | $1.73B | $1.71B | $1.59B | $1.22B | $1.44B |
| Cost of revenue | $791.72M | $783.21M | $794.49M | $773.17M | $611.68M | $614.91M | $597.53M | $548.59M | $517.94M | $752.08M |
| Gross profit | $1.39B | $1.46B | $1.39B | $1.32B | $1.29B | $1.12B | $1.11B | $1.04B | $705.47M | $683.34M |
| Operating income | $343.45M | $371.36M | $381.98M | $353.31M | $366.96M | $269.31M | $262.58M | $249.89M | $214.76M | $314.78M |
| Net income | $165.08M | $194.36M | $204.44M | $177.37M | $200.39M | $117.83M | $136.94M | $460.12M | $194.03M | $129.62M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 194.03M | shares 205.61M | shares 211.53M | shares 215.84M | shares 224.40M | shares 228.01M | shares 235.08M | shares 244.96M | shares 252.29M | shares 266.71M |
| Pretax income | $227.25M | $272.41M | $279.42M | $243.50M | $240.58M | $152.80M | $171.48M | $574.92M | $101.02M | $201.69M |
| Income tax expense | $62.17M | $78.06M | $74.98M | $66.14M | $40.19M | $34.96M | $34.54M | $114.80M | -$93.01M | $72.07M |
| Diluted EPS | $0.85 | $0.95 | $0.97 | $0.82 | $0.89 | $0.52 | $0.58 | $1.88 | $0.77 | $0.49 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | $252.68M | $255.21M | $249.96M | $254.98M | $242.97M | $206.88M | $200.21M | $217.49M | $203.59M | $236.79M |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-28 | 2024-12-29 | 2023-12-31 | 2023-01-01 | 2022-01-02 | 2021-01-03 | 2019-12-29 | 2018-12-30 | 2017-12-31 | 2017-01-01 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $300.83M | $450.51M | $516.04M | $745.89M | $249.44M | $306.99M | $300.20M | $431.40M | $171.45M | $198.24M |
| Total assets | $4.96B | $5.03B | $5.18B | $5.50B | $5.10B | $5.04B | $4.99B | $4.29B | $4.10B | $3.94B |
| Current assets | $618.04M | $736.14M | $837.65M | $1.06B | $592.85M | $687.62M | $554.05M | $665.72M | $404.35M | $452.53M |
| Total liabilities | $4.84B | $4.78B | $4.87B | $5.03B | $4.66B | $4.49B | $4.48B | $3.64B | $3.52B | $3.41B |
| Current liabilities | $351.10M | $397.63M | $381.93M | $388.00M | $426.92M | $413.31M | $349.70M | $284.18M | $227.16M | $230.08M |
| Total equity incl. NCI | $117.38M | $259.35M | $309.78M | $465.72M | $436.40M | $549.60M | $516.36M | $648.45M | $573.20M | $527.74M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | $7.39M | $6.53M | $6.69M | $7.13M | $5.93M | $4.73M | $3.89M | $3.69M | $3.16M | $2.85M |
| Accounts receivable | $104.96M | $86.84M | $104.80M | $98.56M | $101.52M | $93.66M | $100.54M | Unavailable | Unavailable | Unavailable |
| Goodwill | $774.09M | $771.47M | $773.73M | $773.09M | $775.28M | $751.05M | $755.91M | $747.88M | $743.33M | $741.41M |
| Long-term debt | $2.73B | $2.66B | $2.73B | $2.82B | $2.36B | $2.22B | $2.26B | $2.31B | $2.72B | $2.49B |
| Accounts payable | $30.45M | $28.46M | $27.37M | $44.00M | $41.16M | $31.06M | $22.70M | $21.74M | $22.76M | $27.64M |
Cash flow
| Metric | 2025-12-28 | 2024-12-29 | 2023-12-31 | 2023-01-01 | 2022-01-02 | 2021-01-03 | 2019-12-29 | 2018-12-30 | 2017-12-31 | 2017-01-01 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $344.54M | $355.31M | $345.42M | $259.90M | $345.77M | $284.36M | $288.93M | $224.23M | $238.79M | $193.82M |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Investing cash flow | -$150.83M | -$129.30M | -$86.55M | -$77.78M | -$154.67M | -$68.25M | -$54.93M | $362.91M | -$92.25M | $107.08M |
| Financing cash flow | -$343.99M | -$303.10M | -$504.30M | $288.67M | -$242.74M | -$157.91M | -$365.30M | -$305.76M | -$215.80M | -$412.06M |
| Net change in cash | -$145.94M | -$85.21M | -$242.98M | $464.84M | -$51.28M | $59.53M | -$127.80M | $273.69M | -$63.12M | -$109.03M |
| Stock-based compensation | $14.57M | $23.02M | $23.75M | $24.54M | $22.02M | $18.93M | $18.68M | $17.92M | $20.93M | $18.14M |
| Common dividends paid | $129.59M | $204.44M | $209.25M | $106.78M | $94.85M | $64.87M | $96.36M | $80.53M | $68.32M | $63.83M |
| Common share repurchases | $200.77M | $77.38M | $189.55M | $51.95M | $268.53M | $62.17M | $217.80M | $269.81M | $126.23M | $336.96M |
| Depreciation & amortization | $152.22M | $143.23M | $135.79M | $133.41M | $125.54M | $132.78M | $131.69M | $128.88M | $125.69M | $124.30M |
Derived
| Metric | 2025-12-28 | 2024-12-29 | 2023-12-31 | 2023-01-01 | 2022-01-02 | 2021-01-03 | 2019-12-29 | 2018-12-30 | 2017-12-31 | 2017-01-01 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross margin | 63.6% | 65.1% | 63.6% | 63.1% | 67.8% | 64.5% | 65.0% | 65.5% | 57.7% | 47.6% |
| Operating margin | 15.8% | 16.5% | 17.5% | 16.9% | 19.3% | 15.5% | 15.4% | 15.7% | 17.6% | 21.9% |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | 0.7% | 1.0% | 1.1% | 1.2% | 1.2% | 1.1% | 1.1% | 1.1% | 1.7% | 1.3% |
| Current ratio | 1.76x | 1.85x | 2.19x | 2.73x | 1.39x | 1.66x | 1.58x | 2.34x | 1.78x | 1.97x |
| Revenue YoY growth | -3.1% | 3.0% | 4.1% | 10.5% | 9.4% | 1.5% | 7.5% | 30.0% | -14.8% | Unavailable |
| Net margin | 7.6% | 8.7% | 9.4% | 8.5% | 10.6% | 6.8% | 8.0% | 28.9% | 15.9% | 9.0% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | 23.26x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 27.4% | 28.7% | 26.8% | 27.2% | 16.7% | 22.9% | 20.1% | 20.0% | -92.1% | 35.7% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open WEN in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-07View SEC filing
10-Q · Filed 2026-05-08View SEC filing
10-K · Filed 2026-02-23View SEC filing
10-Q · Filed 2025-11-07View SEC filing
10-Q · Filed 2025-08-08View SEC filing
10-Q · Filed 2025-05-02View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.