Wendy's Co balance sheet

At the end of fiscal 2025, Wendy's Co had total assets of $4.96bn, total liabilities of $4.84bn and shareholders' equity of $117m. It held $301m in cash against $2.79bn of debt: net debt of $2.49bn.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Wendy's Co: balance sheet, annual
Fiscal year	2009Jan 2010	2010Jan 2011	2011Jan 2012	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Jan 2016	2016Jan 2017	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Jan 2021	2021Jan 2022	2022Jan 2023	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	592	513	475	453	580	267	327	198	171	431	300	307	249	746	516	451	301	341
Receivables	88	84	68	61	63	68	105	99	114	110	101	94	102	99	105	87	105	109
Inventory	23	23	13	14	10	7	4	3	3	4	4	5	6	7	7	7	7	7
Total current assets	879	755	735	710	922	562	617	453	404	666	554	688	593	1,058	838	736	618	678
Goodwill	881	884	870	876	843	823	771	741	743	748	756	751	775	773	774	771	774	773
Total assets	4,975	4,733	4,289	4,303	4,363	4,138	4,109	3,939	4,097	4,292	4,995	5,040	5,101	5,499	5,183	5,035	4,957	4,884
Accounts payable	103	81	81	71	84	77	54	28	23	22	23	31	41	44	27	28	30	21
Deferred revenue (current)	—	—	—	—	—	—	—	—	—	10	9	9	9	9	—	—	—	—
Total current liabilities	475	421	337	287	350	340	269	230	227	284	350	413	427	388	382	398	351	357
Short-term debt	22	18	—	—	—	—	—	—	—	23	23	29	24	29	29	78	30	30
Long-term debt	1,501	1,554	1,357	1,445	1,425	1,385	2,403	2,488	2,724	2,306	2,258	2,218	2,356	2,822	2,733	2,662	2,731	2,719
Total debt	1,523	1,572	1,387	1,483	1,479	1,462	2,478	2,558	2,792	2,826	2,321	2,283	2,423	2,896	2,797	2,768	2,789	2,749
Total liabilities	—	—	—	—	—	2,420	3,356	3,412	3,524	3,644	4,478	4,490	4,665	5,034	4,873	4,775	4,839	4,764
Shareholders' equity	2,336	2,163	1,996	1,986	1,929	1,718	753	528	573	648	516	550	436	466	310	259	117	120
Net debt (negative = net cash)	931	1,060	912	1,030	899	1,195	2,151	2,360	2,620	2,394	2,021	1,976	2,173	2,150	2,281	2,317	2,488	2,408
Shares outstanding	—	—	—	—	—	—	272m	247m	241m	231m	225m	224m	216m	213m	205m	204m	190m	191m

US$ millions unless shown otherwise. Fiscal quarters.

Wendy's Co: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	111	87	102	115	128	105	125	109
Inventory	6	7	6	6	7	7	7	7
Total current assets	783	736	644	600	641	618	652	678
Goodwill	773	771	772	773	775	774	774	773
Total assets	5,073	5,035	4,919	4,894	4,976	4,957	4,925	4,884
Accounts payable	29	28	25	27	27	30	24	21
Total current liabilities	373	398	434	415	794	351	356	357
Short-term debt	29	78	78	79	425	30	30	30
Long-term debt	2,716	2,662	2,657	2,651	2,299	2,731	2,725	2,719
Total debt	2,746	2,740	2,735	2,729	2,724	2,760	2,755	2,749
Total liabilities	4,813	4,775	4,789	4,781	4,867	4,839	4,809	4,764
Shareholders' equity	260	259	130	113	109	117	116	120
Shares outstanding	203m	204m	196m	191m	190m	190m	190m	191m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Wendy's Co's SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Wendy's Co.