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Wendys

Wendys's net profit rose 70.1% yoy to USD 200 mil in 2021

By Helgi Library - May 10, 2022

Wendys made a net profit of USD 200 mil with revenues of USD 1,897 mil in 2021, up by 70.1% and up by 9.41%, respec...

Wendys's price/earnings (P/E) fell 37.0% yoy to 26.7 in 2021

By Helgi Library - May 10, 2022

Wendys stock traded at USD 23.9 per share at the end 2021 translating into a market capitalization of USD 5,352 mil. Since the en...

Wendys's Capital Expenditures rose 63.6% yoy to USD 22.9 mil in 2021

By Helgi Library - May 10, 2022

Wendys invested a total of USD 22.9 mil in 2021, down 63.6% compared to the previous year. Historically, between 2011 - ...

Profit Statement 2025 2026 2027
Sales USD mil 2,411 2,422 2,497
Gross Profit USD mil 1,591 1,599 1,648
EBITDA USD mil 630 526 561
EBIT USD mil 458 387 403
Financing Cost USD mil 148 152 155
Pre-Tax Profit USD mil 339 265 278
Net Profit USD mil 266 205 214
Dividends USD mil 165 123 128
Balance Sheet 2025 2026 2027
Total Assets USD mil 5,283 5,371 5,461
Non-Current Assets USD mil 4,616 4,682 4,750
Current Assets USD mil 667 688 711
Working Capital USD mil 103 108 114
Shareholders' Equity USD mil 910 951 1,042
Liabilities USD mil 4,373 4,420 4,419
Total Debt USD mil 3,896 3,906 3,916
Net Debt USD mil 3,297 3,307 3,317
Ratios 2025 2026 2027
ROE % 31.5 22.0 21.5
ROCE % 5.68 4.31 4.43
Gross Margin % 66.0 66.0 66.0
EBITDA Margin % 26.1 21.7 22.5
EBIT Margin % 19.0 16.0 16.1
Net Margin % 11.0 8.46 8.57
Net Debt/EBITDA 5.24 6.29 5.91
Net Debt/Equity % 362 348 318
Cost of Financing % 3.81 3.90 3.96
Valuation 2025 2026 2027
Market Capitalisation USD mil 4,062 4,062 4,062
Enterprise Value (EV) USD mil 7,359 7,369 7,379
Number Of Shares mil 224 224 224
Share Price USD 18.1 18.1 18.1
EV/EBITDA 11.7 14.0 13.1
EV/Sales 3.05 3.04 2.96
Price/Earnings (P/E) 15.3 19.8 19.0
Price/Book Value (P/BV) 4.46 4.27 3.90
Dividend Yield % 4.11 3.07 3.20

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overview Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
income statement                                  
Sales USD mil               1,590 1,709 1,734 1,897 2,094          
Gross Profit USD mil               1,041 1,111 1,119 1,285 1,371          
EBIT USD mil               250 254 263 367 357          
Net Profit USD mil               460 137 118 200 187          
                                     
ROE % ...             75.3 23.5 22.1 40.6 38.8          
EBIT Margin %               15.7 14.9 15.2 19.3 17.0          
Net Margin %               28.9 8.01 6.80 10.6 8.95          
Employees ...             12,500 13,300 14,000 14,500 ... ... ... ... ... ...
balance sheet                                  
Total Assets USD mil               4,292 4,995 5,040 5,101 5,038          
Non-Current Assets USD mil               3,626 4,440 4,352 4,509 4,428          
Current Assets USD mil               666 554 688 593 610          
                                     
Shareholders' Equity USD mil               648 516 550 436 529          
Liabilities USD mil               3,644 4,478 4,490 4,665 4,510          
Non-Current Liabilities USD mil               3,359 4,128 4,077 4,238 4,212          
Current Liabilities USD mil               284 350 413 427 298          
                                     
Net Debt/EBITDA               6.21 7.17 6.91 6.20 6.62          
Net Debt/Equity %               363 661 613 827 618          
Cost of Financing % ...             4.32 4.38 3.97 3.71 3.70          
cash flow                                  
Total Cash From Operations USD mil               224 289 284 346 141          
Total Cash From Investing USD mil               363 -54.9 -68.3 -155 -55.4          
Total Cash From Financing USD mil               -306 -365 -158 -243 -85.2          
Net Change In Cash USD mil               274 -128 59.5 -51.3 0          
valuation                                  
Market Capitalisation USD mil ... ... ... ... ... ...   3,829 5,209 4,998 5,352 4,062          
Enterprise Value (EV) USD mil ... ... ... ... ... ...   6,182 8,623 8,367 8,959 7,329          
Number Of Shares mil ... ... ... ... ... ...   245 235 228 224 224          
Share Price USD ... ... ... ... ... ...   15.6 22.2 21.9 23.9 18.1          
Price/Earnings (P/E) ... ... ... ... ... ...   8.32 38.0 42.4 26.7 21.7          
Price/Cash Earnings (P/CE) ... ... ... ... ... ...   6.95 23.9 25.6 19.9 12.6          
EV/EBITDA ... ... ... ... ... ...   16.3 18.1 17.2 15.4 14.8          
Price/Book Value (P/BV) ... ... ... ... ... ...   5.90 10.1 9.09 12.3 7.68          
Dividend Yield % ... ... ... ... ... ...   2.18 1.90 1.32 1.80 2.58          
income statement Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
income statement                                  
Sales USD mil               1,590 1,709 1,734 1,897 2,094          
Cost of Goods & Services USD mil               549 598 615 612 723          
Gross Profit USD mil               1,041 1,111 1,119 1,285 1,371          
Selling, General & Admin USD mil               539 538 552 655 ... ... ... ... ... ...
Research & Development USD mil               0 0 0 0 ... ... ... ... ... ...
Other Operating Expense USD mil               123 188 171 138 ... ... ... ... ... ...
Other Operating Cost (Income) USD mil               0 0 0 0 ... ... ... ... ... ...
EBITDA USD mil               379 476 487 582 494          
Depreciation USD mil   ... ...         90.6 81.2 77.7 68.3 136          
EBIT USD mil               250 254 263 367 357          
Net Financing Cost USD mil   ...           92.0 116 118 109 113          
Financing Cost USD mil               120 142 147 140 143          
Financing Income USD mil   ...           27.6 26.3 29.1 30.6 30.0          
FX (Gain) Loss USD mil               0 0 0 0 ... ... ... ... ... ...
(Income) / Loss from Affiliates USD mil       ... ...     -8.10 -8.70 -6.10 ... ... ... ... ... ... ...
Extraordinary Cost USD mil               0 0 0 0 ... ... ... ... ... ...
Pre-Tax Profit USD mil               575 171 153 241 244          
Tax USD mil               115 34.5 35.0 40.2 56.5          
Minorities USD mil               0 0 0 0 0          
Net Profit USD mil               460 137 118 200 187          
Net Profit Avail. to Common USD mil               460 137 118 200 187          
Dividends USD mil               80.9 96.6 64.9 95.2 104          
growth rates                                  
Total Revenue Growth % ...             30.0 7.49 1.45 9.41 10.4          
Operating Cost Growth % ...             59.7 8.36 -0.220 7.32 ... ... ... ... ... ...
EBITDA Growth % ...             11.3 25.7 2.38 19.4 -15.1          
EBIT Growth % ...             16.4 1.60 3.67 39.4 -2.74          
Pre-Tax Profit Growth % ...             469 -70.2 -10.9 57.5 1.37          
Net Profit Growth % ...             137 -70.2 -14.0 70.1 -6.51          
ratios                                  
ROE % ...             75.3 23.5 22.1 40.6 38.8          
ROA % ...             11.0 2.95 2.35 3.95 3.70          
ROCE % ...             12.3 3.32 2.63 4.44 4.11          
Gross Margin %               65.5 65.0 64.5 67.8 65.5          
EBITDA Margin %               23.8 27.9 28.1 30.7 23.6          
EBIT Margin %               15.7 14.9 15.2 19.3 17.0          
Net Margin %               28.9 8.01 6.80 10.6 8.95          
Payout Ratio %               17.6 70.5 55.1 47.5 55.3          
Cost of Financing % ...             4.32 4.38 3.97 3.71 3.70          
Net Debt/EBITDA               6.21 7.17 6.91 6.20 6.62          
balance sheet Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
balance sheet                                  
Cash & Cash Equivalents USD mil               431 300 307 249 249          
Receivables USD mil               110 117 110 120 126          
Inventories USD mil               3.69 3.89 4.73 5.93 6.35          
Other ST Assets USD mil               121 133 266 218 229          
Current Assets USD mil               666 554 688 593 610          
Property, Plant & Equipment USD mil               1,213 2,034 1,944 1,964 2,023          
LT Investments & Receivables USD mil               274 303 313 350 350          
Intangible Assets USD mil               2,042 2,003 1,976 2,056 2,056          
Goodwill USD mil               748 756 751 775 775          
Non-Current Assets USD mil               3,626 4,440 4,352 4,509 4,428          
Total Assets USD mil               4,292 4,995 5,040 5,101 5,038          
                                     
Trade Payables USD mil               21.7 22.7 31.1 41.2 43.2          
Short-Term Debt USD mil               31.7 77.5 86.4 87.1 97.1          
Other ST Liabilities USD mil               80.2 84.2 141 158 158          
Current Liabilities USD mil               284 350 413 427 298          
Long-Term Debt USD mil               2,753 3,636 3,590 3,769 3,769          
Other LT Liabilities USD mil               607 492 488 469 469          
Non-Current Liabilities USD mil               3,359 4,128 4,077 4,238 4,212          
Liabilities USD mil               3,644 4,478 4,490 4,665 4,510          
Preferred Equity and Hybrid Capital USD mil               0 0 0 0 0          
Share Capital USD mil               2,932 2,921 2,946 2,946 2,946          
Treasury Stock USD mil               2,368 2,537 2,586 2,805 2,805          
Equity Before Minority Interest USD mil               648 516 550 436 529          
Minority Interest USD mil   ... ...         0 0 0 0 0          
Equity USD mil               648 516 550 436 529          
growth rates                                  
Total Asset Growth % ...             4.76 16.4 0.911 1.22 -1.23          
Shareholders' Equity Growth % ...             13.1 -20.4 6.44 -20.6 21.1          
Net Debt Growth % ...             -8.90 45.1 -1.30 7.06 -9.41          
Total Debt Growth % ...             1.09 33.4 -1.02 4.91 0.259          
ratios                                  
Total Debt USD mil               2,784 3,714 3,676 3,856 3,866          
Net Debt USD mil               2,353 3,413 3,369 3,607 3,267          
Working Capital USD mil               91.8 98.7 83.6 84.3 88.6          
Capital Employed USD mil               3,718 4,539 4,436 4,593 4,517          
Net Debt/Equity %               363 661 613 827 618          
Current Ratio               2.34 1.58 1.66 1.39 2.05          
Quick Ratio               1.90 1.19 1.01 0.864 1.26          
cash flow Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
cash flow                                  
Net Profit USD mil               460 137 118 200 187          
Depreciation USD mil   ... ...         90.6 81.2 77.7 68.3 136          
Non-Cash Items USD mil               -422 1.73 27.2 -10.8 -332          
Change in Working Capital USD mil               57.4 18.6 6.58 30.6 150          
Total Cash From Operations USD mil               224 289 284 346 141          
                                     
Capital Expenditures USD mil               -66.6 -71.0 -62.9 -22.9 -55.4          
Net Change in LT Investment USD mil               0 0 0 0 ... ... ... ... ... ...
Net Cash From Acquisitions USD mil               -21.4 -5.05 -4.88 -123 ... ... ... ... ... ...
Other Investing Activities USD mil               451 21.1 -0.493 -8.73 0          
Total Cash From Investing USD mil               363 -54.9 -68.3 -155 -55.4          
                                     
Dividends Paid USD mil               -80.5 -96.4 -64.9 -94.8 -95.2          
Issuance Of Shares USD mil               -236 -198 -44.4 -243 0          
Issuance Of Debt USD mil               34.8 -49.8 -46.5 130 10.0          
Other Financing Activities USD mil               -23.6 -20.8 -2.12 -34.5 ... ... ... ... ... ...
Total Cash From Financing USD mil               -306 -365 -158 -243 -85.2          
                                     
Effect of FX Rates USD mil               -7.69 3.49 1.33 0.364 ... ... ... ... ... ...
Net Change In Cash USD mil               274 -128 59.5 -51.3 0          
ratios                                  
Days Sales Outstanding days               25.2 25.1 23.1 23.0 21.9          
Days Sales Of Inventory days               2.45 2.38 2.81 3.54 3.21          
Days Payable Outstanding days               14.5 13.9 18.4 24.6 21.8          
Cash Conversion Cycle days               13.2 13.6 7.50 1.98 3.27          
Cash Earnings USD mil   ... ...         551 218 195 269 323          
Free Cash Flow USD mil               587 234 216 191 85.2          
Capital Expenditures (As % of Sales) %               4.19 4.15 3.63 1.21 2.65          
other ratios Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
                                   
Employees ...             12,500 13,300 14,000 14,500 ... ... ... ... ... ...
Operating Cost (As % of Sales) %               49.8 50.2 49.4 48.4 ... ... ... ... ... ...
Research & Development (As % of Sales) %               0 0 0 0 ... ... ... ... ... ...
Effective Tax Rate %               20.0 20.1 22.9 16.7 23.2          
Total Revenue Growth (5-year average) % ... ... ... ... ...     -8.56 -3.08 -1.50 5.73 11.3          
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ... -2.45 -1.78          
valuation Unit 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
                                   
Market Capitalisation USD mil ... ... ... ... ... ...   3,829 5,209 4,998 5,352 4,062          
Enterprise Value (EV) USD mil ... ... ... ... ... ...   6,182 8,623 8,367 8,959 7,329          
Number Of Shares mil ... ... ... ... ... ...   245 235 228 224 224          
Share Price USD ... ... ... ... ... ...   15.6 22.2 21.9 23.9 18.1          
EV/EBITDA ... ... ... ... ... ...   16.3 18.1 17.2 15.4 14.8          
Price/Earnings (P/E) ... ... ... ... ... ...   8.32 38.0 42.4 26.7 21.7          
Price/Cash Earnings (P/CE) ... ... ... ... ... ...   6.95 23.9 25.6 19.9 12.6          
P/FCF ... ... ... ... ... ...   6.52 22.3 23.1 28.0 47.7          
Price/Book Value (P/BV) ... ... ... ... ... ...   5.90 10.1 9.09 12.3 7.68          
Dividend Yield % ... ... ... ... ... ...   2.18 1.90 1.32 1.80 2.58          
Free Cash Flow Yield % ... ... ... ... ... ...   15.3 4.49 4.32 3.57 2.10          
Earnings Per Share (EPS) USD ... ... ... ... ... ...   1.88 0.583 0.517 0.893 0.835          
Cash Earnings Per Share USD ... ... ... ... ... ...   2.25 0.928 0.857 1.20 1.44          
Free Cash Flow Per Share USD ... ... ... ... ... ...   2.40 0.995 0.948 0.852 0.380          
Book Value Per Share USD ... ... ... ... ... ...   2.65 2.20 2.41 1.94 2.36          
Dividend Per Share USD ... ... ... ... ... ...   0.340 0.420 0.290 0.430 0.468          
EV/Sales ... ... ... ... ... ...   3.89 5.05 4.83 4.72 3.50          
EV/EBIT ... ... ... ... ... ...   24.7 34.0 31.8 24.4 20.5          
EV/Free Cash Flow ... ... ... ... ... ...   10.5 36.8 38.7 46.9 86.0          
EV/Capital Employed ... ... ... ... ... ...   1.66 1.90 1.89 1.95 1.62          
Earnings Per Share Growth % ... ... ... ... ... ... ... 144 -69.0 -11.3 72.8 -6.51          
Cash Earnings Per Share Growth % ... ... ... ... ... ... ... 99.0 -58.7 -7.62 39.7 20.2          
Book Value Per Share Growth % ... ... ... ... ... ... ... 16.5 -17.0 9.73 -19.3 21.1          

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Wendys's P/FCF rose 21.1% yoy to 28.0 in 2021

By Helgi Library - May 10, 2022

Wendys stock traded at USD 23.9 per share at the end 2021 translating into a market capitalization of USD 5,352 mil. Since the end of 2016, the stock has appreciated by 0% representing an annual average growth of %. At the end of 2021, the firm traded at...

Wendys's Net Debt/EBITDA fell 10.3% yoy to 6.20 in 2021

By Helgi Library - May 10, 2022

Wendys's net debt stood at USD 3,607 mil and accounted for 827% of equity at the end of 2021. The ratio is up 214 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 827% in 2021 and a low of 44.2% ...

Wendys's ROCE rose 69.1% yoy to 4.44% in 2021

By Helgi Library - May 10, 2022

Wendys made a net profit of USD 200 mil in 2021, up 70.1% compared to the previous year. Historically, between 2011 and 2021, the company's net profit reached a high of USD 460 mil in 2018 and a low of USD 7.08 mil in 2012. The result implies a return on ...

Wendys's Net Margin rose 55.4% yoy to 10.6% in 2021

By Helgi Library - May 10, 2022

Wendys made a net profit of USD 200 mil with revenues of USD 1,897 mil in 2021, up by 70.1% and up by 9.41%, respectively, compared to the previous year. This translates into a net margin of 10.6%. Historically, between 2011 and 2021, the firm’s n...

Wendys's Share Price rose 8.80% yoy to USD 23.9 in 2021

By Helgi Library - May 10, 2022

Wendys stock traded at USD 23.9 per share at the end 2021 implying a market capitalization of USD 5,352 mil. Since the end of 2016, stock has appreciated by % implying an annual average growth of % In absolute terms, the value of the company rose by ...

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Finance

Wendys has been growing its sales by a year on average in the last 5 years. EBITDA has grown by 0% during that time to total of in 2027, or of sales. That’s compared to % average margin seen in last five years.

The company netted in 2027 implying ROE of and ROCE of . Again, the average figures were % and %, respectively when looking at the previous 5 years.

Wendys’s net debt amounted to at the end of 2027, or of equity. When compared to EBITDA, net debt was x, up when compared to average of x seen in the last 5 years.

Valuation

Wendys stock traded at per share at the end of 2027 resulting in a market capitalization of . Over the previous five years, stock price grew by 0% or % a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of x and price to earnings (PE) of x as of 2027.