Wendy's Co income statement
In fiscal 2025, Wendy's Co reported revenue of $2.18bn, down 3.1% on the year before, operating income of $343m (a 15.8% margin) and net income of $165m, or $0.85 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,437 | 2,375 | 2,431 | 2,505 | 2,424 | 1,999 | 1,870 | 1,435 | 1,223 | 1,590 | 1,709 | 1,734 | 1,897 | 2,096 | 2,182 | 2,246 | 2,177 | 2,204 |
| Cost of revenue | — | — | — | — | — | — | — | — | 518 | 549 | 598 | 615 | 612 | 773 | 794 | 783 | 792 | 815 |
| Gross profit | — | — | — | — | — | — | — | — | 705 | 1,041 | 1,111 | 1,119 | 1,285 | 1,322 | 1,387 | 1,463 | 1,385 | 1,388 |
| General and administrative | 353 | 312 | 292 | 288 | 292 | 261 | 257 | 237 | 204 | 217 | 200 | 207 | 243 | 255 | 250 | 255 | 253 | 264 |
| Operating income | 98 | 150 | 137 | 123 | 139 | 243 | 274 | 315 | 215 | 250 | 263 | 269 | 367 | 353 | 382 | 371 | 343 | 300 |
| Interest expense | 107 | 118 | 114 | 99 | 69 | 52 | 86 | 115 | 118 | 120 | 116 | 118 | 109 | 122 | 124 | 124 | 126 | 132 |
| Provision for credit losses | — | — | — | — | — | — | — | — | — | 2 | 5 | 0 | −0 | −0 | −0 | 1 | 1 | — |
| Income before tax | −16 | 14 | 24 | −13 | 64 | 193 | 234 | 202 | 101 | 575 | 171 | 153 | 241 | 244 | 279 | 272 | 227 | 179 |
| Income tax | −22 | −5 | 7 | −21 | 16 | 76 | 94 | 72 | −93 | 115 | 35 | 35 | 40 | 66 | 75 | 78 | 62 | 53 |
| Net income | 5 | −4 | 10 | 7 | 45 | 121 | 161 | 130 | 194 | 460 | 137 | 118 | 200 | 177 | 204 | 194 | 165 | 126 |
| Diluted EPS | $0.01 | −$0.01 | $0.02 | $0.02 | $0.11 | $0.32 | $0.49 | $0.49 | $0.77 | $1.88 | $0.58 | $0.52 | $0.89 | $0.82 | $0.97 | $0.95 | $0.85 | $0.66 |
| Diluted shares (average) | 467m | 427m | 407m | 392m | 399m | 376m | 329m | 267m | 252m | 245m | 235m | 228m | 224m | 216m | 212m | 206m | 194m | 191m |
| EBITDA | 232 | 277 | 282 | 277 | 340 | 402 | 428 | 439 | 340 | 379 | 394 | 402 | 493 | 487 | 518 | 515 | 496 | 458 |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 567 | 574 | 523 | 561 | 550 | 543 | 541 | 571 |
| Cost of revenue | 196 | 196 | 188 | 197 | 204 | 203 | 201 | 207 |
| Gross profit | 371 | 379 | 335 | 364 | 345 | 340 | 340 | 363 |
| General and administrative | 63 | 67 | 68 | 59 | 58 | 67 | 73 | 66 |
| Operating income | 95 | 96 | 83 | 104 | 92 | 64 | 65 | 79 |
| Interest expense | 31 | 31 | 31 | 31 | 32 | 33 | 34 | 34 |
| Income before tax | 70 | 70 | 55 | 76 | 63 | 33 | 34 | 49 |
| Income tax | 19 | 23 | 16 | 21 | 19 | 7 | 11 | 16 |
| Net income | 50 | 47 | 39 | 55 | 44 | 26 | 23 | 33 |
| Diluted EPS | $0.25 | $0.24 | $0.19 | $0.29 | $0.23 | $0.14 | $0.12 | $0.17 |
| EBITDA | 132 | 129 | 120 | 141 | 130 | 104 | 105 | 117 |
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