The Wendy's Company (WEN) Stock Analysis
Consumer Cyclical · Restaurants · NasdaqGS
The Wendy's Company (WEN) posted $2.18B in revenue for fiscal 2025 (down 3.1% year over year), at a 7.6% net margin, and has compounded revenue about 4.7%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on The Wendy's Company
The Wendy's Company has grown revenue from $1.44B to $2.18B over the last 10 fiscal years, compounding about 4.7% a year. The most recent year was down 3.1%, so growth has cooled from its longer-run pace.
Net margin sits at 7.6%, down 1.1 points year over year on a 63.6% gross margin. It carries about $2.76B of total debt.
At today's valuation the market is pricing in roughly -11.4% annual free-cash-flow growth — versus the 2.4% it actually delivered over the last five years, so the price is arguably undemanding against what it has already proven. The one thing worth a second look in the filings is receivables growing faster than sales.
Synthesised from The Wendy's Company's SEC filings — descriptive, not advice. Ask the analyst your own question →
The Wendy's Company revenue & earnings — last 10 fiscal years
| Metric | 2017 | 2017 | 2018 | 2019 | 2021 | 2022 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.44B | $1.22B | $1.59B | $1.71B | $1.73B | $1.90B | $2.10B | $2.18B | $2.25B | $2.18B |
| Gross profit | $683.34M | $705.47M | $1.04B | $1.11B | $1.12B | $1.29B | $1.32B | $1.39B | $1.46B | $1.39B |
| Net income | $129.62M | $194.03M | $460.12M | $136.94M | $117.83M | $200.39M | $177.37M | $204.44M | $194.36M | $165.07M |
| Net margin | 9.0% | 15.9% | 28.9% | 8.0% | 6.8% | 10.6% | 8.5% | 9.4% | 8.7% | 7.6% |
Source: The Wendy's Company SEC filings (10-K). 18 years of history available in the interactive view.
The Wendy's Company: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Receivables growing faster than salesAccounts receivable rose 20.9% while revenue rose -3.1% in the latest year — a gap that can signal looser credit terms or pulled-forward sales. Worth checking days-sales-outstanding.
- Heavy debt loadTotal debt of $2819.8M is 8.2× last year's operating cash flow — it would take years of cash flow to clear.
What growth is priced into WEN stock?
At today's market cap of $1.27B, The Wendy's Company is priced for free-cash-flow growth of about -11.4% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $242.62M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 2.4%/yr over the last five fiscal years and revenue 4.7%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 18 years of The Wendy's Company financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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The Wendy's Company financial history by metric
Compare The Wendy's Company with peers
About The Wendy's Company
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.
The Wendy's Company — frequently asked questions
What is The Wendy's Company's revenue?
The Wendy's Company (WEN) reported revenue of $2.18B for fiscal year 2025, down 3.1% from the prior year, according to its SEC filings.
Is The Wendy's Company profitable?
Yes. WEN earned net income of $165.07M in fiscal 2025, a net margin of 7.6%.
What is WEN's P/E ratio?
The Wendy's Company trades at a price-to-earnings ratio of about 8.7 based on the latest data in our nightly-refreshed cache.
How fast is The Wendy's Company growing?
WEN's revenue grew at roughly 4.7% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does The Wendy's Company have?
As of fiscal year 2025, WEN carried roughly $2.76B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is The Wendy's Company's gross margin?
WEN's gross margin was 63.6% in fiscal 2025 — gross profit of $1.39B on revenue of $2.18B.
What is The Wendy's Company's market cap?
The Wendy's Company (WEN) has a market capitalization of about $1.27B, based on the latest data in our nightly-refreshed cache.
When does The Wendy's Company's fiscal year end?
WEN's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into WEN stock?
At today's market cap of $1.27B, The Wendy's Company is priced for free-cash-flow growth of about -11.4% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $242.62M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 2.4%/yr over the last five fiscal years and revenue 4.7%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from The Wendy's Company's official SEC filings (10-K and 10-Q), covering 18 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.