WEN - The Wendy's Company
Price:
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CONSENSUS:
Hold
DETAILS
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PRICE TARGET:
$9.45
DETAILS
HIGH:
$13.00
LOW:
$7.00
MEDIAN:
$9.00
CONSENSUS:
$9.45
UPSIDE:
13.58%
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||
| Revenue | 2,246.5 | 2,181.6 | 2,095.5 | 1,897.0 | 1,733.8 | 1,709.0 | 1,589.9 | 1,223.4 | 1,435.4 | 1,870.3 |
| Cost of Revenue | 1,456.5 | 1,405.1 | 1,374.7 | 1,360.3 | 1,112.3 | 1,103.3 | 986.8 | 622.3 | 826.7 | 1,231.9 |
| Gross Profit | 790.0 | 776.5 | 720.8 | 536.7 | 621.5 | 605.7 | 603.2 | 601.1 | 608.7 | 638.4 |
| Operating Expenses | ||||||||||
| R&D Expenses | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| SG&A Expenses | 255.2 | 250.0 | 255.0 | 81.4 | 206.9 | 200.2 | 217.5 | 203.6 | 236.8 | 256.6 |
| Other Expenses | 163.4 | 144.5 | 112.5 | 88.3 | 145.3 | 143.0 | 122.5 | 182.8 | 57.1 | 107.4 |
| Operating Expenses | 418.7 | 394.5 | 367.4 | 169.7 | 352.2 | 343.2 | 340.0 | 386.4 | 293.9 | 364.0 |
| Operating Income | ||||||||||
| Operating Income | 371.4 | 382.0 | 353.3 | 367.0 | 269.3 | 262.6 | 249.9 | 214.8 | 314.8 | 274.5 |
| Interest Expense | 123.9 | 124.1 | 122.3 | 109.2 | 117.7 | 116.0 | 119.6 | 118.1 | 114.8 | 86.1 |
| Interest Income | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 1.1 | 0.7 | 0.0 | 0.0 | 0.0 |
| Profitability | ||||||||||
| EBITDA | 554.2 | 552.0 | 501.6 | 475.3 | 403.3 | 419.1 | 823.4 | 344.8 | 440.8 | 473.9 |
| EBIT | 396.3 | 403.5 | 365.8 | 349.8 | 270.5 | 287.5 | 694.5 | 219.1 | 316.5 | 320.2 |
| Income Before Tax | 272.4 | 279.4 | 243.5 | 240.6 | 152.8 | 171.5 | 574.9 | 101.0 | 201.7 | 234.1 |
| Income Tax Expense | 78.1 | 75.0 | 66.1 | 40.2 | 35.0 | 34.5 | 114.8 | (93.0) | 72.1 | 94.1 |
| Net Income | 194.4 | 204.4 | 177.4 | 200.4 | 117.8 | 136.9 | 460.1 | 194.0 | 129.6 | 161.1 |
| Per Share Data | ||||||||||
| EPS (Basic) | 0.95 | 0.98 | 0.83 | 0.91 | 0.53 | 0.60 | 1.93 | 0.79 | 0.49 | 0.50 |
| EPS (Diluted) | 0.95 | 0.97 | 0.82 | 0.89 | 0.52 | 0.58 | 1.88 | 0.77 | 0.49 | 0.49 |
| Shares Outstanding | 204.4 | 209.5 | 213.8 | 221.4 | 223.7 | 229.9 | 237.8 | 244.2 | 262.2 | 323.0 |
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 450.5 | 516.0 | 745.9 | 249.4 | 307.0 | 300.2 | 431.4 | 171.4 | 198.2 | 327.2 |
| Short-Term Investments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Net Receivables | 99.9 | 121.7 | 186.8 | 119.5 | 173.1 | 117.5 | 109.8 | 114.4 | 98.8 | 104.9 |
| Inventory | 6.5 | 6.7 | 7.1 | 5.9 | 4.7 | 3.9 | 3.7 | 3.2 | 2.9 | 4.3 |
| Other Current Assets | 179.2 | 193.2 | 188.8 | 187.4 | 113.0 | 116.9 | 106.4 | 95.2 | 133.4 | 110.3 |
| Total Current Assets | 736.1 | 837.7 | 1,058.3 | 592.8 | 687.6 | 554.0 | 665.7 | 404.4 | 452.5 | 616.6 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 1,832.5 | 1,825.6 | 1,884.8 | 1,963.8 | 1,943.5 | 2,034.3 | 1,213.2 | 1,263.1 | 1,192.3 | 1,227.9 |
| Goodwill | 771.5 | 773.7 | 773.1 | 775.3 | 751.0 | 755.9 | 747.9 | 743.3 | 741.4 | 770.8 |
| Intangible Assets | 1,192.3 | 1,219.1 | 1,248.8 | 1,280.8 | 1,225.0 | 1,247.2 | 1,294.2 | 1,321.6 | 1,322.5 | 1,339.6 |
| Long-Term Investments | 317.1 | 348.1 | 363.4 | 349.6 | 312.8 | 302.6 | 274.1 | 285.1 | 57.0 | 58.4 |
| Other Non-Current Assets | (235.5) | 178.6 | (99.5) | 139.1 | (160.7) | (170.3) | (172.3) | (219.5) | (273.0) | (364.2) |
| Total Non-Current Assets | 4,298.7 | 4,345.2 | 4,441.1 | 4,508.5 | 4,352.4 | 4,440.5 | 3,626.3 | 3,692.6 | 3,486.8 | 3,492.2 |
| Total Assets | 5,034.8 | 5,182.8 | 5,499.3 | 5,101.4 | 5,040.0 | 4,994.5 | 4,292.0 | 4,096.9 | 3,939.3 | 4,108.7 |
| Current Liabilities | ||||||||||
| Account Payables | 28.5 | 27.4 | 44.0 | 41.2 | 31.1 | 22.7 | 21.7 | 22.8 | 27.6 | 53.7 |
| Short-Term Debt | 78.2 | 29.2 | 29.2 | 24.2 | 29.0 | 22.8 | 23.2 | 30.2 | 24.7 | 23.3 |
| Deferred Revenue | 11.0 | 0.0 | 9.0 | 0.0 | 155.3 | 270.8 | 150.6 | 111.6 | 68.8 | 80.5 |
| Other Current Liabilities | 133.6 | 227.6 | 169.9 | 270.5 | 69.1 | (45.2) | 21.7 | (6.9) | 40.2 | 30.8 |
| Total Current Liabilities | 397.6 | 381.9 | 388.0 | 426.9 | 413.3 | 349.7 | 284.2 | 227.2 | 230.1 | 268.8 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 2,662.1 | 2,732.8 | 2,822.2 | 2,356.4 | 2,218.2 | 2,257.6 | 2,305.6 | 2,724.2 | 2,487.6 | 2,402.8 |
| Deferred Tax Liabilities | 263.4 | 270.4 | 270.4 | 267.7 | 280.8 | 270.8 | 269.2 | 299.1 | 446.5 | 459.7 |
| Other Non-Current Liabilities | 84.2 | 89.7 | 98.8 | 201.0 | 117.7 | 129.8 | 245.2 | 262.4 | 247.4 | 224.5 |
| Total Non-Current Liabilities | 4,377.9 | 4,491.1 | 4,645.6 | 4,238.1 | 4,077.1 | 4,128.5 | 3,359.4 | 3,296.6 | 3,181.5 | 3,087.0 |
| Total Liabilities | 4,775.5 | 4,873.0 | 5,033.6 | 4,665.0 | 4,490.4 | 4,478.2 | 3,643.6 | 3,523.7 | 3,411.6 | 3,355.8 |
| Stockholders' Equity | ||||||||||
| Common Stock | 47.0 | 47.0 | 47.0 | 47.0 | 47.0 | 47.0 | 47.0 | 47.0 | 47.0 | 47.0 |
| Retained Earnings | 399.7 | 409.9 | 414.7 | 344.2 | 238.7 | 185.7 | 146.3 | (163.3) | (290.9) | (356.6) |
| Accumulated Other Comprehensive Income | (74.8) | (58.4) | (64.2) | (48.2) | (49.6) | (53.8) | (61.7) | (46.2) | (63.2) | (70.8) |
| Total Stockholders' Equity | 259.4 | 309.8 | 465.7 | 436.4 | 549.6 | 516.4 | 648.4 | 573.2 | 527.7 | 752.9 |
| Total Liabilities & Equity | 5,034.8 | 5,182.8 | 5,499.3 | 5,101.4 | 5,040.0 | 4,994.5 | 4,292.0 | 4,096.9 | 3,939.3 | 4,108.7 |
| Debt Metrics | ||||||||||
| Total Debt | 4,092.6 | 4,139.8 | 4,281.8 | 3,856.4 | 3,676.0 | 3,713.7 | 2,784.4 | 2,754.4 | 2,512.3 | 2,426.1 |
| Net Debt | 3,642.1 | 3,623.7 | 3,535.9 | 3,607.0 | 3,369.0 | 3,413.5 | 2,353.0 | 2,583.0 | 2,314.0 | 2,098.9 |
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 194.4 | 204.4 | 177.4 | 200.4 | 117.8 | 136.9 | 460.1 | 194.0 | 129.6 | 161.1 |
| Depreciation & Amortization | 157.9 | 148.6 | 135.8 | 125.5 | 132.8 | 131.7 | 128.9 | 125.7 | 124.3 | 153.7 |
| Stock-Based Compensation | 23.0 | 23.7 | 24.5 | 22.0 | 18.9 | 18.7 | 17.9 | 20.9 | 18.1 | 23.2 |
| Change in Working Capital | (21.4) | (22.9) | (45.1) | 30.6 | 6.6 | 18.6 | 57.4 | (30.7) | (19.8) | (85.7) |
| Other Non-Cash Items | 6.9 | (7.7) | (37.0) | (19.0) | (2.0) | (17.8) | (433.5) | 48.1 | (44.2) | (67.1) |
| Operating Cash Flow | 355.3 | 345.4 | 259.9 | 345.8 | 284.4 | 288.9 | 224.2 | 238.8 | 193.8 | 274.3 |
| Investing Activities | ||||||||||
| Capital Expenditure | (94.4) | (85.0) | (85.5) | (78.0) | (69.0) | (74.5) | (69.9) | (81.7) | (150.0) | (251.6) |
| Acquisitions | 0.0 | 2.1 | 8.2 | (68.0) | 1.2 | (1.6) | (18.2) | (5.3) | 260.0 | 281.6 |
| Purchases of Investments | 0.0 | 0.0 | (3.6) | (10.0) | 69.0 | 74.5 | (0.0) | (0.4) | (0.2) | (2.1) |
| Sales/Maturities of Investments | 0.0 | 0.0 | 0.0 | 0.1 | 0.2 | 24.5 | 450.0 | 4.1 | 0.9 | 0.6 |
| Other Investing Activities | (34.9) | (3.7) | 3.1 | 1.2 | (69.6) | (77.8) | 1.0 | (9.0) | (3.6) | 6.9 |
| Investing Cash Flow | (129.3) | (86.5) | (77.8) | (154.7) | (68.2) | (54.9) | 362.9 | (92.2) | 107.1 | 35.4 |
| Financing Activities | ||||||||||
| Net Debt Issuance | (49.7) | (116.3) | 455.9 | 116.0 | (46.5) | (56.6) | 34.8 | (27.0) | (24.6) | 966.8 |
| Stock Repurchased | (77.4) | (189.6) | (52.0) | (268.5) | (62.2) | (217.8) | (269.8) | (126.2) | (337.0) | (1,098.7) |
| Dividends Paid | (204.4) | (209.3) | (106.8) | (94.8) | (64.9) | (96.4) | (80.5) | (68.3) | (63.8) | (71.8) |
| Other Financing Activities | 28.4 | 10.8 | (8.5) | 4.6 | (7.7) | 5.5 | 9.8 | 5.7 | 13.3 | (33.8) |
| Financing Cash Flow | (303.1) | (504.3) | 288.7 | (242.7) | (157.9) | (365.3) | (305.8) | (215.8) | (412.1) | (237.6) |
| Cash Position | ||||||||||
| Net Change in Cash | (85.2) | (243.0) | 464.8 | (51.3) | 59.5 | (127.8) | 273.7 | (63.1) | (109.0) | 59.9 |
| Cash at Beginning | 588.8 | 831.8 | 367.0 | 418.2 | 358.7 | 486.5 | 212.8 | 275.9 | 385.0 | 267.3 |
| Cash at End | 503.6 | 588.8 | 831.8 | 367.0 | 418.2 | 358.7 | 486.5 | 212.8 | 275.9 | 327.2 |
| Free Cash Flow | 260.9 | 260.4 | 174.4 | 267.8 | 215.4 | 214.5 | 154.4 | 157.1 | 43.8 | 22.7 |
| Key Metrics | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 2,246.5 | 2,181.6 | 2,095.5 | 1,897.0 | 1,733.8 | 1,709.0 | 1,589.9 | 1,223.4 | 1,435.4 | 1,870.3 |
| Gross Profit | 790.0 | 776.5 | 720.8 | 536.7 | 621.5 | 605.7 | 603.2 | 601.1 | 608.7 | 638.4 |
| Operating Income | 371.4 | 382.0 | 353.3 | 367.0 | 269.3 | 262.6 | 249.9 | 214.8 | 314.8 | 274.5 |
| Net Income | 194.4 | 204.4 | 177.4 | 200.4 | 117.8 | 136.9 | 460.1 | 194.0 | 129.6 | 161.1 |
| EPS (Diluted) | 0.95 | 0.97 | 0.82 | 0.89 | 0.52 | 0.58 | 1.88 | 0.77 | 0.49 | 0.49 |
| Balance Sheet | ||||||||||
| Cash & Equivalents | 450.5 | 516.0 | 745.9 | 249.4 | 307.0 | 300.2 | 431.4 | 171.4 | 198.2 | 327.2 |
| Total Assets | 5,034.8 | 5,182.8 | 5,499.3 | 5,101.4 | 5,040.0 | 4,994.5 | 4,292.0 | 4,096.9 | 3,939.3 | 4,108.7 |
| Total Debt | 4,092.6 | 4,139.8 | 4,281.8 | 3,856.4 | 3,676.0 | 3,713.7 | 2,784.4 | 2,754.4 | 2,512.3 | 2,426.1 |
| Stockholders' Equity | 259.4 | 309.8 | 465.7 | 436.4 | 549.6 | 516.4 | 648.4 | 573.2 | 527.7 | 752.9 |
| Cash Flow | ||||||||||
| Operating Cash Flow | 355.3 | 345.4 | 259.9 | 345.8 | 284.4 | 288.9 | 224.2 | 238.8 | 193.8 | 274.3 |
| Capital Expenditure | (94.4) | (85.0) | (85.5) | (78.0) | (69.0) | (74.5) | (69.9) | (81.7) | (150.0) | (251.6) |
| Free Cash Flow | 260.9 | 260.4 | 174.4 | 267.8 | 215.4 | 214.5 | 154.4 | 157.1 | 43.8 | 22.7 |