The Wendy's Company (WEN) Income Statement
WEN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsWEN revenue and net income
Where WEN's revenue goes
2025Each bar shows an amount and its share of revenue. WEN kept 7.6% of revenue as net income.
WEN profit margins
WEN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −3.1% | +1.3% | +4.7% | +1.5% |
| Gross profit | −26.0% | −6.7% | −1.2% | −0.9% |
| Operating income | −10.5% | −2.0% | +4.3% | +1.9% |
| Net income | −15.1% | −2.4% | +7.0% | +0.2% |
| EPS (diluted) | −11.0% | +0.8% | +9.3% | +9.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WEN quarterly EPS vs estimates
Wendy's beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.10).
WEN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.18B | $2.25B | $2.18B | $2.10B | $1.90B | $1.73B | $1.71B | $1.59B | $1.22B | $1.44B |
| Cost of revenue | $1.59B | $1.46B | $1.41B | $1.37B | $1.36B | $1.11B | $1.10B | $986.8M | $622.3M | $826.7M |
| Gross profit | $585.0M | $790.0M | $776.5M | $720.8M | $536.7M | $621.5M | $605.7M | $603.2M | $601.1M | $608.7M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $252.7M | $255.2M | $250.0M | $255.0M | $81.4M | $206.9M | $200.2M | $217.5M | $203.6M | $236.8M |
| Total operating expenses | $252.7M | $418.7M | $394.5M | $367.4M | $169.7M | $352.2M | $343.2M | $340.0M | $386.4M | $293.9M |
| Operating income | $332.3M | $371.4M | $382.0M | $353.3M | $367.0M | $269.3M | $262.6M | $249.9M | $214.8M | $314.8M |
| Interest income | — | — | — | — | — | $29.1M | $26.3M | — | $115.7M | — |
| Interest expense | $126.5M | $123.9M | $124.1M | $122.3M | $109.2M | $117.7M | $116.0M | $119.6M | $118.1M | $114.8M |
| Income before taxes | $227.2M | $272.4M | $279.4M | $243.5M | $240.6M | $152.8M | $171.5M | $574.9M | $101.0M | $201.7M |
| Income taxes | $62.2M | $78.1M | $75.0M | $66.1M | $40.2M | $35.0M | $34.5M | $114.8M | −$93.0M | $72.1M |
| Net income | $165.1M | $194.4M | $204.4M | $177.4M | $200.4M | $117.8M | $136.9M | $460.1M | $194.0M | $129.6M |
| EBITDA | $524.6M | $554.2M | $552.0M | $501.6M | $475.3M | $403.3M | $419.1M | $823.4M | $344.8M | $440.8M |
| EPS (diluted) | $0.89 | $1.00 | $0.97 | $0.87 | $0.82 | $0.57 | $0.59 | $0.58 | $0.44 | $0.40 |
| Gross margin | 26.9% | 35.2% | 35.6% | 34.4% | 28.3% | 35.8% | 35.4% | 37.9% | 49.1% | 42.4% |
| Operating margin | 15.3% | 16.5% | 17.5% | 16.9% | 19.3% | 15.5% | 15.4% | 15.7% | 17.6% | 21.9% |
| Net margin | 7.6% | 8.7% | 9.4% | 8.5% | 10.6% | 6.8% | 8.0% | 28.9% | 15.9% | 9.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $570.6M | $540.6M | $543.0M | $549.5M | $560.9M | $523.5M | $574.3M | $566.7M | $570.7M | $534.8M | $540.7M | $550.6M |
| Cost of revenue | $385.8M | $402.2M | $411.5M | $404.0M | $394.5M | $375.5M | $249.1M | $411.4M | $408.3M | $380.6M | $484.9M | $390.6M |
| Gross profit | $184.8M | $138.4M | $131.4M | $145.5M | $166.4M | $148.0M | $325.2M | $155.4M | $162.4M | $154.1M | $55.7M | $160.0M |
| Sales, general & admin | $66.2M | $32.4M | $67.1M | $57.9M | $22.6M | $68.2M | $185.6M | $25.1M | $61.5M | $29.2M | $67.1M | $22.8M |
| Total operating expenses | $105.5M | $74.5M | $67.1M | $57.9M | $62.2M | $443.6M | $229.1M | $60.7M | $62.9M | $73.0M | −$30.9M | $58.4M |
| Operating income | $79.3M | $63.9M | $64.4M | $87.6M | $104.3M | $79.9M | $96.0M | $94.7M | $99.5M | $81.2M | $86.6M | $101.6M |
| Interest expense | $33.9M | $34.1M | $32.5M | $31.5M | $30.9M | $31.5M | $31.1M | $31.3M | $31.0M | $30.5M | $30.3M | $31.0M |
| Income before taxes | $48.6M | $34.2M | $33.2M | $63.2M | $75.9M | $54.9M | $70.5M | $69.7M | $74.8M | $57.5M | $67.3M | $78.0M |
| Income taxes | $16.0M | $11.5M | $6.7M | $19.0M | $20.8M | $15.7M | $23.0M | $19.4M | $20.2M | $15.5M | $20.4M | $19.9M |
| Net income | $32.6M | $22.7M | $26.5M | $44.3M | $55.1M | $39.2M | $47.5M | $50.2M | $54.6M | $42.0M | $46.9M | $58.0M |
| EBITDA | $125.1M | $113.6M | $111.2M | $138.4M | $147.9M | $28.6M | $138.9M | $141.5M | $146.8M | $127.1M | $137.2M | $147.1M |
| EPS (diluted) | $0.18 | $0.12 | $0.16 | $0.24 | $0.29 | $0.20 | $0.25 | $0.25 | $0.27 | $0.23 | $0.21 | $0.27 |
| Gross margin | 32.4% | 25.6% | 24.2% | 26.5% | 29.7% | 28.3% | 56.6% | 27.4% | 28.5% | 28.8% | 10.3% | 29.1% |
| Operating margin | 13.9% | 11.8% | 11.9% | 15.9% | 18.6% | 15.3% | 16.7% | 16.7% | 17.4% | 15.2% | 16.0% | 18.5% |
| Net margin | 5.7% | 4.2% | 4.9% | 8.1% | 9.8% | 7.5% | 8.3% | 8.9% | 9.6% | 7.9% | 8.7% | 10.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WEN's financial statements (latest annual report filed February 23, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WEN financial results
In fiscal year 2025 (ended December 31, 2025), Wendy's reported revenue of $2.2 billion, down 3.1% from the year before. It had net income of $165.1 million (down 15.1%), a net profit margin of 7.6%. Diluted earnings per share came to $0.89. Over five years revenue grew at an average rate of 4.7% a year.
See the WEN stock overview for the latest quote and news, or the WEN chart for price history and technical indicators.
WEN income statement FAQ
What is Wendy's's annual revenue?
Wendy's reported total revenue of $2.2 billion for fiscal year 2025, which ended on December 31, 2025. That was down 3.1% from $2.2 billion the previous year.
Is Wendy's profitable?
Yes. Wendy's reported net income of $165.1 million in fiscal 2025, a net profit margin of 7.6%; its operating margin was 15.3%.
What is Wendy's's gross margin?
Wendy's's gross margin was 26.9% in fiscal 2025: for every $100 of revenue, Wendy's kept $27 after the direct cost of its products and services.
How fast is Wendy's growing?
Revenue grew 4.7% a year on average over the last five fiscal years, from $1.7 billion to $2.2 billion.
What are Wendy's's earnings per share?
Wendy's earned $0.89 per diluted share in fiscal 2025, compared with $1.00 a year earlier.
When will Wendy's report its next earnings?
Wendy's is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does Wendy's's fiscal year end?
Wendy's's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 23, 2026.