WEN Chart
About

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.

Fundamentals
Scroll to Statements
Sector Consumer Cyclical Industry Restaurants Market Cap 1.47B
Enterprise Value 5.32B Income 165.08M Sales 2.18B
Book/sh 0.62 Cash/sh 1.58 Dividend Yield 7.24%
Payout 78.82% Employees 4967 IPO —
P/E 9.09 Forward P/E 11.67 PEG —
P/S 0.68 P/B 12.53 P/C —
EV/EBITDA 10.82 EV/Sales 2.44 Quick Ratio 1.19
Current Ratio 1.76 Debt/Eq 3531.19 LT Debt/Eq —
EPS (ttm) 0.85 EPS next Y 0.66 EPS Growth -40.70%
Revenue Growth -5.50% Earnings 2026-05-01 ROA 4.24%
ROE 87.64% ROIC — Gross Margin 34.72%
Oper. Margin 12.40% Profit Margin 7.58% Shs Outstand 190.32M
Shs Float 145.51M Short Float 58.06% Short Ratio 4.98
Short Interest — 52W High 16.20 52W Low 6.73
Beta 0.38 Avg Volume 7.93M Volume 5.87M
Target Price $8.15 Recom Hold Prev Close $7.77
Price $7.73 Change -0.51%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$8.15
Mean price target
2. Current target
$7.73
Latest analyst target
3. DCF / Fair value
$16.19
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$7.73
Low
$5.00
High
$13.00
Mean
$8.15

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-23 main JP Morgan Neutral → Neutral $7
2026-02-18 reit Stephens & Co. Equal-Weight → Equal-Weight $8
2026-02-17 main UBS Neutral → Neutral $8
2026-02-17 main Goldman Sachs Sell → Sell $7
2026-02-17 main RBC Capital Sector Perform → Sector Perform $8
2026-02-17 main Truist Securities Buy → Buy $10
2026-02-17 main Barclays Equal-Weight → Equal-Weight $8
2026-02-17 main Evercore ISI Group In-Line → In-Line $8
2026-02-17 main BMO Capital Market Perform → Market Perform $9
2026-02-13 main Stephens & Co. Equal-Weight → Equal-Weight $8
2026-02-13 main TD Cowen Hold → Hold $6
2026-02-03 main Citigroup Neutral → Neutral $8
2026-01-20 main Morgan Stanley Underweight → Underweight $8
2026-01-09 main Mizuho Underperform → Underperform $7
2026-01-08 main Truist Securities Buy → Buy $11
2026-01-08 main Evercore ISI Group In-Line → In-Line $9
2026-01-06 main UBS Neutral → Neutral $9
2025-12-17 main Goldman Sachs Sell → Sell $8
2025-12-03 down JP Morgan Overweight → Neutral $9
2025-11-10 main UBS Neutral → Neutral $10
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 1564 13091.0 — Stock Award(Grant) at price 8.37 per share. DOLAN KRISTIN A Director — 2026-01-05 00:00:00 D
1 5704 47742.0 — Stock Award(Grant) at price 8.37 per share. MAY PETER W Director and Beneficial Owner of more than 10% of a Class of Security — 2026-01-05 00:00:00 D
2 2942 24625.0 — Stock Award(Grant) at price 8.37 per share. PELTZ BRADLEY G. Director — 2026-01-05 00:00:00 D
3 20 169.0 — Purchase at price 8.35 per share. SUERKEN PETER J. JR Officer — 2025-12-15 00:00:00 D
4 500 3940.0 — Purchase at price 7.88 per share. SUERKEN PETER J. JR Officer — 2025-11-20 00:00:00 D
5 1700 13906.0 — Purchase at price 8.18 per share. MIN JOHN Officer — 2025-11-19 00:00:00 D
6 1347 13093.0 — Stock Award(Grant) at price 9.72 per share. DOLAN KRISTIN A Director — 2025-10-01 00:00:00 D
7 3295 32027.0 — Stock Award(Grant) at price 9.72 per share. MAY PETER W Director and Beneficial Owner of more than 10% of a Class of Security — 2025-10-01 00:00:00 D
8 4844 47084.0 — Stock Award(Grant) at price 9.72 per share. PELTZ BRADLEY G. Director — 2025-10-01 00:00:00 D
9 2577 nan — — RADKOSKI LINDSAY J. Officer — 2025-08-15 00:00:00 D
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems-4.88M-4.77M480.90K813.15K
TaxRateForCalcs0.290.270.270.17
NormalizedEBITDA571.24M569.84M499.86M470.44M
TotalUnusualItems-17.01M-17.80M1.77M4.87M
TotalUnusualItemsExcludingGoodwill-17.01M-17.80M1.77M4.87M
NetIncomeFromContinuingOperationNetMinorityInterest194.36M204.44M177.37M200.39M
ReconciledDepreciation157.94M148.57M135.81M125.54M
ReconciledCostOfRevenue1.46B1.41B1.37B1.36B
EBITDA554.23M552.05M501.63M475.30M
EBIT396.29M403.48M365.82M349.76M
NetInterestIncome-123.88M-124.06M-122.32M-109.19M
InterestExpense123.88M124.06M122.32M109.19M
NormalizedIncome206.49M217.47M176.08M196.34M
NetIncomeFromContinuingAndDiscontinuedOperation194.36M204.44M177.37M200.39M
TotalExpenses1.86B1.79B1.74B1.55B
RentExpenseSupplemental127.45M125.37M124.08M132.41M
TotalOperatingIncomeAsReported371.36M381.98M353.31M366.96M
DilutedAverageShares205.61M211.53M215.84M224.41M
BasicAverageShares204.35M209.49M213.77M221.38M
DilutedEPS0.950.970.820.89
BasicEPS0.950.980.830.91
DilutedNIAvailtoComStockholders194.36M204.44M177.37M200.39M
NetIncomeCommonStockholders194.36M204.44M177.37M200.39M
NetIncome194.36M204.44M177.37M200.39M
NetIncomeIncludingNoncontrollingInterests194.36M204.44M177.37M200.39M
NetIncomeContinuousOperations194.36M204.44M177.37M200.39M
TaxProvision78.06M74.98M66.14M40.19M
PretaxIncome272.41M279.42M243.50M240.58M
OtherIncomeExpense7.91M11.77M12.17M5.55M
OtherNonOperatingIncomeExpenses24.92M29.57M10.40M681.00K
SpecialIncomeCharges-17.02M-7.44M-339.00K4.83M
OtherSpecialCharges-2.28M17.92M
WriteOff0.000.00
ImpairmentOfCapitalAssets9.71M1.40M6.42M2.25M
RestructuringAndMergernAcquisition7.31M8.32M-6.08M-25.00M
GainOnSaleOfSecurity11.00K-10.36M2.11M39.00K
NetNonOperatingInterestIncomeExpense-123.88M-124.06M-122.32M-109.19M
InterestExpenseNonOperating123.88M124.06M122.32M109.19M
OperatingIncome388.38M391.70M353.65M344.18M
OperatingExpense401.63M384.76M367.10M192.47M
OtherOperatingExpenses-11.51M-13.77M-23.68M-14.47M
DepreciationAmortizationDepletionIncomeStatement157.94M148.57M135.81M125.54M
DepreciationAndAmortizationInIncomeStatement157.94M148.57M135.81M125.54M
Amortization14.70M12.78M2.39M0.00
AmortizationOfIntangiblesIncomeStatement14.70M12.78M2.39M0.00
DepreciationIncomeStatement143.23M135.79M133.41M125.54M
SellingGeneralAndAdministration255.21M249.96M254.98M81.40M
GeneralAndAdministrativeExpense255.21M249.96M254.98M81.40M
OtherGandA255.21M249.96M254.98M59.40M
SalariesAndWages22.50M22.00M
GrossProfit790.01M776.47M720.76M536.66M
CostOfRevenue1.46B1.41B1.37B1.36B
TotalRevenue2.25B2.18B2.10B1.90B
OperatingRevenue2.25B2.18B2.10B1.90B
Line Item2024-12-312023-12-312022-12-312021-12-31
TreasurySharesNumber266.59M265.03M257.32M254.57M
OrdinarySharesNumber203.83M205.40M213.10M215.85M
ShareIssued470.42M470.42M470.42M470.42M
NetDebt2.29B2.25B2.11B2.13B
TotalDebt4.09B4.14B4.28B3.86B
TangibleBookValue-1.70B-1.68B-1.56B-1.62B
InvestedCapital3.00B3.07B3.32B2.82B
WorkingCapital338.51M455.72M670.28M165.92M
NetTangibleAssets-1.70B-1.68B-1.56B-1.62B
CapitalLeaseObligations1.35B1.38B1.43B1.48B
CommonStockEquity259.35M309.78M465.72M436.40M
TotalCapitalization2.92B3.04B3.29B2.79B
TotalEquityGrossMinorityInterest259.35M309.78M465.72M436.40M
StockholdersEquity259.35M309.78M465.72M436.40M
GainsLossesNotAffectingRetainedEarnings-74.75M-58.38M-64.18M-48.20M
OtherEquityAdjustments-74.75M-58.38M-64.18M-48.20M
TreasuryStock3.09B3.05B2.87B2.81B
RetainedEarnings399.70M409.86M414.75M344.20M
AdditionalPaidInCapital2.98B2.96B2.94B2.90B
CapitalStock47.04M47.04M47.04M47.04M
CommonStock47.04M47.04M47.04M47.04M
TotalLiabilitiesNetMinorityInterest4.78B4.87B5.03B4.66B
TotalNonCurrentLiabilitiesNetMinorityInterest4.38B4.49B4.65B4.24B
OtherNonCurrentLiabilities84.23M89.71M98.85M112.92M
NonCurrentDeferredLiabilities351.81M360.49M360.65M355.81M
NonCurrentDeferredTaxesLiabilities263.42M270.35M270.42M267.71M
LongTermDebtAndCapitalLeaseObligation3.94B4.04B4.19B3.77B
LongTermCapitalLeaseObligation1.28B1.31B1.36B1.41B
LongTermDebt2.66B2.73B2.82B2.36B
CurrentLiabilities397.63M381.93M388.00M426.93M
OtherCurrentLiabilities141.72M163.25M178.00M206.71M
CurrentDebtAndCapitalLeaseObligation150.74M98.85M95.69M87.08M
CurrentCapitalLeaseObligation72.58M69.60M66.44M62.83M
CurrentDebt78.16M29.25M29.25M24.25M
OtherCurrentBorrowings78.16M29.25M29.25M24.25M
PensionandOtherPostRetirementBenefitPlansCurrent45.31M44.62M39.25M63.84M
CurrentProvisions2.91M19.70M907.00K
PayablesAndAccruedExpenses56.95M55.50M74.16M69.31M
Payables56.95M55.50M74.16M69.31M
TotalTaxPayable28.50M28.13M30.16M28.14M
AccountsPayable28.45M27.37M44.00M41.16M
TotalAssets5.03B5.18B5.50B5.10B
TotalNonCurrentAssets4.30B4.35B4.44B4.51B
OtherNonCurrentAssets185.40M178.58M170.96M139.13M
InvestmentsAndAdvances317.05M348.11M363.37M349.58M
OtherInvestments317.05M348.11M363.37M299.71M
InvestmentinFinancialAssets12.11M10.00M
AvailableForSaleSecurities12.11M10.00M
LongTermEquityInvestment33.92M39.87M
GoodwillAndOtherIntangibleAssets1.96B1.99B2.02B2.06B
OtherIntangibleAssets1.19B1.22B1.25B1.28B
Goodwill771.47M773.73M773.09M775.28M
NetPPE1.83B1.83B1.88B1.96B
AccumulatedDepreciation-925.80M-868.49M-798.92M-736.89M
GrossPPE2.76B2.69B2.68B2.70B
Leases453.38M432.05M422.33M422.09M
OtherProperties1.03B1.02B1.07B1.12B
MachineryFurnitureEquipment314.22M282.77M
BuildingsAndImprovements896.37M863.87M824.91M787.23M
LandAndImprovements379.58M373.63M371.35M370.74M
Properties0.000.000.000.00
CurrentAssets736.14M837.65M1.06B592.85M
OtherCurrentAssets45.56M39.64M26.96M30.58M
RestrictedCash133.61M153.60M161.88M187.35M
PrepaidAssets30.58M
Inventory6.53M6.69M7.13M5.93M
Receivables99.93M121.68M116.43M119.54M
NotesReceivable13.09M16.89M17.86M18.02M
AccountsReceivable86.84M104.80M98.56M101.52M
AllowanceForDoubtfulAccountsReceivable-5.15M-1.54M-1.71M-3.23M
GrossAccountsReceivable91.99M106.33M100.27M104.74M
CashCashEquivalentsAndShortTermInvestments450.51M516.04M745.89M249.44M
CashAndCashEquivalents450.51M516.04M745.89M249.44M
CashEquivalents319.21M365.90M560.68M0.00
CashFinancial131.30M150.14M185.21M249.44M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow260.92M260.39M174.36M267.79M
RepurchaseOfCapitalStock-77.38M-189.55M-51.95M-268.53M
RepaymentOfDebt-49.65M-116.29M-44.06M-983.98M
IssuanceOfDebt0.000.00500.00M1.10B
CapitalExpenditure-94.39M-85.02M-85.54M-77.98M
InterestPaidSupplementalData145.25M146.88M144.42M133.28M
IncomeTaxPaidSupplementalData73.60M75.19M47.77M54.78M
EndCashPosition503.61M588.82M831.80M366.97M
BeginningCashPosition588.82M831.80M366.97M418.24M
EffectOfExchangeRateChanges-8.11M2.45M-5.97M364.00K
ChangesInCash-77.10M-245.43M470.80M-51.64M
FinancingCashFlow-303.10M-504.30M288.67M-242.74M
CashFlowFromContinuingFinancingActivities-303.10M-504.30M288.67M-242.74M
NetOtherFinancingCharges-4.49M-3.87M-13.40M-25.38M
ProceedsFromStockOptionExercised32.86M14.67M4.87M30.00M
CashDividendsPaid-204.44M-209.25M-106.78M-94.85M
CommonStockDividendPaid-204.44M-209.25M-106.78M-94.85M
NetCommonStockIssuance-77.38M-189.55M-51.95M-268.53M
CommonStockPayments-77.38M-189.55M-51.95M-268.53M
NetIssuancePaymentsOfDebt-49.65M-116.29M455.94M116.02M
NetLongTermDebtIssuance-49.65M-116.29M455.94M116.02M
LongTermDebtPayments-49.65M-116.29M-44.06M-983.98M
LongTermDebtIssuance0.000.00500.00M1.10B
InvestingCashFlow-129.31M-86.55M-77.78M-154.67M
CashFlowFromContinuingInvestingActivities-129.31M-86.55M-77.78M-154.67M
NetOtherInvestingChanges1.38M4.28M3.14M1.20M
NetInvestmentPurchaseAndSale-41.25M-7.92M-3.60M-9.94M
SaleOfInvestment0.0031.00K0.0063.00K
PurchaseOfInvestment-41.25M-7.95M-3.60M-10.00M
NetBusinessPurchaseAndSale4.95M2.12M8.24M-67.95M
SaleOfBusiness4.95M2.12M8.24M55.12M
PurchaseOfBusiness0.000.00-123.07M
CapitalExpenditureReported-94.39M-85.02M-85.54M-77.98M
OperatingCashFlow355.31M345.42M259.90M345.77M
CashFlowFromContinuingOperatingActivities355.31M345.42M259.90M345.77M
DividendReceivedCFO14.41M12.90M12.61M16.34M
ChangeInWorkingCapital-21.38M-22.88M-45.11M30.60M
ChangeInOtherWorkingCapital-20.73M-18.21M-30.50M11.52M
ChangeInPayablesAndAccruedExpense6.17M-4.87M-14.31M28.97M
ChangeInAccruedExpense5.14M3.96M-12.78M21.38M
ChangeInPayable1.03M-8.83M-1.53M7.59M
ChangeInAccountPayable1.03M-8.83M-1.53M7.59M
ChangeInPrepaidAssets-1.79M-672.00K6.77M-3.40M
ChangeInInventory138.00K439.00K-1.20M-872.00K
ChangeInReceivables-5.16M430.00K-5.86M-5.61M
OtherNonCashItems-5.61M-8.82M-46.62M-26.32M
StockBasedCompensation23.02M23.75M24.54M22.02M
AssetImpairmentCharge9.71M1.40M6.42M2.25M
DeferredTax-5.53M-807.00K4.30M-13.78M
DeferredIncomeTax-5.53M-807.00K4.30M-13.78M
DepreciationAmortizationDepletion157.94M148.57M135.81M125.54M
DepreciationAndAmortization157.94M148.57M135.81M125.54M
AmortizationCashFlow14.70M12.78M2.39M0.00
AmortizationOfIntangibles14.70M12.78M2.39M0.00
Depreciation143.23M135.79M133.41M125.54M
OperatingGainsLosses-11.61M-13.13M-9.42M-11.27M
EarningsLossesFromEquityInvestments-11.61M-10.82M-9.42M-11.20M
GainLossOnInvestmentSecurities-31.00K-63.00K
NetIncomeFromContinuingOperations194.36M204.44M177.37M200.39M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for WEN
Date User Asset Broker Type Position Size Entry Price Patterns