The Wendy's Company (WEN) Key Metrics
WEN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.28B
- Enterprise value
- $5.03B
- P/E (TTM)
- 10.2 10-yr median 24.0
- Forward P/E
- 12.4
- PEG ratio
- 1.24
- Price / sales
- 0.6 10-yr median 2.5
- Price / book
- 10.8 10-yr median 10.3
- EV / EBITDA
- 10.3 10-yr median 15.4
- Dividend yield
- 4.18% $0.28 a year
- Beta
- 0.41
WEN key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsWEN valuation Price multiples at each fiscal year-end price.
WEN returns How much profit the business earns on the capital it uses.
WEN per-share figures Results divided by the shares outstanding at year-end.
WEN financial health Debt, liquidity and how easily interest is covered.
WEN efficiency & capital use Working capital cycle and where the cash goes.
WEN valuation history
WEN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
WEN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
WEN cash returned to shareholders
WEN price vs earnings per share
WEN key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.62B | $3.35B | $4.12B | $4.88B | $5.35B | $5.00B | $5.22B | $3.82B | $4.14B | $3.61B |
| Enterprise value | $5.46B | $6.99B | $7.74B | $8.42B | $8.96B | $8.37B | $8.63B | $6.18B | $6.73B | $5.92B |
| P/E ratio | 9.8 | 17.2 | 20.2 | 27.5 | 26.7 | 42.4 | 38.1 | 8.3 | 21.4 | 27.8 |
| Price / sales | 0.7 | 1.5 | 1.9 | 2.3 | 2.8 | 2.9 | 3.1 | 2.4 | 3.4 | 2.5 |
| Price / book | 13.8 | 12.9 | 13.3 | 10.5 | 12.3 | 9.1 | 10.1 | 5.9 | 7.2 | 6.8 |
| Price / free cash flow | 6.7 | 12.8 | 15.8 | 28.0 | 20.0 | 23.2 | 24.3 | 24.8 | 26.4 | 82.3 |
| Price / operating cash flow | 4.7 | 9.4 | 11.9 | 18.8 | 15.5 | 17.6 | 18.1 | 17.1 | 17.3 | 18.6 |
| EV / sales | 2.5 | 3.1 | 3.5 | 4.0 | 4.7 | 4.8 | 5.1 | 3.9 | 5.5 | 4.1 |
| EV / EBITDA | 10.4 | 12.6 | 14.0 | 16.8 | 18.8 | 20.7 | 20.6 | 7.5 | 19.5 | 13.4 |
| EV / free cash flow | 22.5 | 26.8 | 29.7 | 48.3 | 33.5 | 38.8 | 40.3 | 40.0 | 42.8 | 135.2 |
| Earnings yield | 10.2% | 5.8% | 5.0% | 3.6% | 3.7% | 2.4% | 2.6% | 12.0% | 4.7% | 3.6% |
| Free cash flow yield | 15.0% | 7.8% | 6.3% | 3.6% | 5.0% | 4.3% | 4.1% | 4.0% | 3.8% | 1.2% |
| Dividend yield | 8.0% | 6.1% | 5.1% | 2.2% | 1.8% | 1.3% | 1.8% | 2.1% | 1.6% | 1.8% |
| Shareholder yield (dividends + buybacks) | 20.4% | 8.4% | 9.7% | 3.2% | 6.8% | 2.5% | 6.0% | 9.2% | 4.7% | 11.1% |
| Share price at fiscal year-end | $8.33 | $16.30 | $19.48 | $22.63 | $23.85 | $21.92 | $22.21 | $15.61 | $16.42 | $13.52 |
| Per share | ||||||||||
| Revenue per share | $11.22 | $10.93 | $10.31 | $9.71 | $8.45 | $7.60 | $7.27 | $6.49 | $4.85 | $5.38 |
| Earnings per share | $0.85 | $0.95 | $0.97 | $0.82 | $0.89 | $0.52 | $0.58 | $1.88 | $0.77 | $0.49 |
| Operating cash flow per share | $1.78 | $1.73 | $1.63 | $1.20 | $1.54 | $1.25 | $1.23 | $0.92 | $0.95 | $0.73 |
| Free cash flow per share | $1.25 | $1.27 | $1.23 | $0.81 | $1.19 | $0.94 | $0.91 | $0.63 | $0.62 | $0.16 |
| Cash per share | $1.55 | $2.19 | $2.44 | $3.46 | $1.11 | $1.35 | $1.28 | $1.76 | $0.68 | $0.74 |
| Book value per share | $0.60 | $1.26 | $1.46 | $2.16 | $1.94 | $2.41 | $2.20 | $2.65 | $2.27 | $1.98 |
| Tangible book value per share | −$9.42 | −$8.29 | −$7.96 | −$7.21 | −$7.22 | −$6.26 | −$6.32 | −$5.69 | −$5.91 | −$5.76 |
| Dividends per share | $0.67 | $0.99 | $0.99 | $0.49 | $0.42 | $0.28 | $0.41 | $0.33 | $0.27 | $0.24 |
| Capex per share | $0.53 | $0.46 | $0.40 | $0.40 | $0.35 | $0.30 | $0.32 | $0.29 | $0.32 | $0.56 |
| Debt per share | $21.36 | $19.90 | $19.57 | $19.84 | $17.19 | $16.12 | $15.80 | $11.37 | $10.92 | $9.42 |
| Shares outstanding | 194.0M | 205.6M | 211.5M | 215.8M | 224.4M | 228.0M | 235.1M | 245.0M | 252.3M | 266.7M |
| Change in shares outstanding | −5.6% | −2.8% | −2.0% | −3.8% | −1.6% | −3.0% | −4.0% | −2.9% | −5.4% | −18.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 87.6% | 68.3% | 52.7% | 39.3% | 40.6% | 22.1% | 23.5% | 75.3% | 35.2% | 20.2% |
| Return on invested capital (ROIC) | 6.1% | 6.8% | 7.0% | 6.4% | 7.7% | 5.3% | 6.1% | 6.5% | 7.2% | 7.1% |
| Return on assets (ROA) | 3.3% | 3.8% | 3.8% | 3.3% | 4.0% | 2.3% | 2.9% | 11.0% | 4.8% | 3.2% |
| Return on tangible assets | 5.5% | 6.3% | 6.4% | 5.1% | 6.6% | 3.8% | 4.6% | 20.4% | 9.5% | 6.9% |
| Free cash flow margin | 11.1% | 11.6% | 11.9% | 8.3% | 14.1% | 12.4% | 12.6% | 9.7% | 12.8% | 3.1% |
| Income quality (OCF / net income) | 2.09 | 1.83 | 1.69 | 1.47 | 1.73 | 2.41 | 2.11 | 0.49 | 1.23 | 1.50 |
| Financial health | ||||||||||
| Total debt | $4.15B | $4.09B | $4.14B | $4.28B | $3.86B | $3.68B | $3.71B | $2.78B | $2.75B | $2.51B |
| Cash & short-term investments | $300.8M | $450.5M | $516.0M | $745.9M | $249.4M | $307.0M | $300.2M | $431.4M | $171.4M | $198.2M |
| Net debt | $3.84B | $3.64B | $3.62B | $3.54B | $3.61B | $3.37B | $3.41B | $2.35B | $2.58B | $2.31B |
| Debt / equity | 35.31 | 15.78 | 13.36 | 9.19 | 8.84 | 6.69 | 7.19 | 4.29 | 4.81 | 4.76 |
| Debt / assets | 0.84 | 0.81 | 0.80 | 0.78 | 0.76 | 0.73 | 0.74 | 0.65 | 0.67 | 0.64 |
| Net debt / EBITDA | 7.33 | 6.57 | 6.56 | 7.05 | 7.59 | 8.35 | 8.14 | 2.86 | 7.49 | 5.25 |
| Current ratio | 1.76 | 1.85 | 2.19 | 2.73 | 1.39 | 1.66 | 1.58 | 2.34 | 1.78 | 1.97 |
| Quick ratio | 1.74 | 1.83 | 2.18 | 2.71 | 1.37 | 1.65 | 1.57 | 2.33 | 1.77 | 1.95 |
| Interest coverage | 2.6 | 3.0 | 3.1 | 2.9 | 3.4 | 2.3 | 2.3 | 2.1 | 1.8 | 2.7 |
| Working capital | $266.9M | $338.5M | $455.7M | $670.3M | $165.9M | $274.3M | $204.3M | $381.5M | $177.2M | $222.5M |
| Invested capital | $3.96B | $3.90B | $3.93B | $4.00B | $4.04B | $3.92B | $3.93B | $3.00B | $3.16B | $2.84B |
| Tangible asset value | −$1.83B | −$1.70B | −$1.68B | −$1.56B | −$1.62B | −$1.43B | −$1.49B | −$1.39B | −$1.49B | −$1.54B |
| Net current asset value | −$4.22B | −$4.04B | −$4.04B | −$3.98B | −$4.07B | −$3.80B | −$3.92B | −$2.98B | −$3.12B | −$2.96B |
| Graham number | $3.40 | $5.18 | $5.64 | $6.32 | $6.25 | $5.29 | $5.37 | $10.58 | $6.27 | $4.65 |
| Graham net-net per share | −$22.92 | −$20.65 | −$20.15 | −$19.20 | −$19.26 | −$17.77 | −$17.39 | −$12.77 | −$12.94 | −$11.76 |
| Capital allocation | ||||||||||
| Dividends paid | $129.6M | $204.4M | $209.3M | $106.8M | $94.8M | $64.9M | $96.4M | $80.5M | $68.3M | $63.8M |
| Share buybacks (net) | $200.8M | $77.4M | $189.6M | $52.0M | $268.5M | $62.2M | $217.8M | $269.8M | $126.2M | $337.0M |
| Dividend payout ratio | 78.5% | 105.2% | 102.4% | 60.2% | 47.3% | 55.0% | 70.4% | 17.5% | 35.2% | 49.2% |
| Dividends + buybacks / free cash flow | 136.2% | 108.0% | 153.2% | 91.0% | 135.7% | 59.0% | 146.5% | 226.9% | 123.9% | 915.0% |
| Capex / revenue | 4.7% | 4.2% | 3.9% | 4.1% | 4.1% | 4.0% | 4.4% | 4.4% | 6.7% | 10.5% |
| Capex / operating cash flow | 29.6% | 26.6% | 24.6% | 32.9% | 22.6% | 24.3% | 25.8% | 31.2% | 34.2% | 77.4% |
| Capex / depreciation | 0.60 | 0.60 | 0.57 | 0.63 | 0.62 | 0.52 | 0.57 | 0.54 | 0.65 | 1.21 |
| Stock-based compensation / revenue | 0.7% | 1.0% | 1.1% | 1.2% | 1.2% | 1.1% | 1.1% | 1.1% | 1.7% | 1.3% |
| SG&A / revenue | 11.6% | 11.4% | 11.5% | 12.2% | 4.3% | 11.9% | 11.7% | 13.7% | 16.6% | 16.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 18.2 | 18.0 | 25.8 | 26.7 | 28.2 | 30.6 | 24.3 | 25.7 | 31.8 | 25.9 |
| Days of inventory on hand | 1.6 | 1.7 | 1.8 | 1.7 | 1.4 | 1.4 | 1.3 | 1.3 | 1.8 | 1.6 |
| Days payables outstanding | 6.8 | 7.0 | 9.3 | 11.3 | 9.7 | 8.8 | 7.4 | 8.2 | 14.8 | 18.0 |
| Cash conversion cycle (days) | 13.1 | 12.7 | 18.3 | 17.1 | 19.9 | 23.2 | 18.2 | 18.8 | 18.8 | 9.5 |
| Receivables turnover | 20.04 | 20.27 | 14.14 | 13.68 | 12.96 | 11.93 | 15.04 | 14.18 | 11.48 | 14.09 |
| Payables turnover | 54.05 | 52.18 | 39.38 | 32.29 | 37.67 | 41.38 | 49.65 | 44.34 | 24.69 | 20.33 |
| Inventory turnover | 228.79 | 220.36 | 203.36 | 210.48 | 255.08 | 257.99 | 291.17 | 288.40 | 207.18 | 230.83 |
| Asset turnover | 0.44 | 0.44 | 0.41 | 0.40 | 0.37 | 0.35 | 0.37 | 0.38 | 0.30 | 0.36 |
| Average receivables | $108.6M | $110.8M | $154.3M | $153.2M | $146.3M | $145.3M | $113.6M | $112.1M | $106.6M | $101.8M |
| Average payables | $29.5M | $27.9M | $35.7M | $42.6M | $36.1M | $26.9M | $22.2M | $22.3M | $25.2M | $40.7M |
| Average inventory | $7.0M | $6.6M | $6.9M | $6.5M | $5.3M | $4.3M | $3.8M | $3.4M | $3.0M | $3.6M |
| Intangibles / total assets | 39.2% | 39.0% | 38.5% | 36.8% | 40.3% | 39.2% | 40.1% | 47.6% | 50.4% | 52.4% |
Computed from WEN's annual financial statements (latest annual report filed February 23, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
WEN valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Wendy's traded at 9.8 times earnings, against a 10-year median of 24.0. Based on the latest twelve months, the trailing P/E is 10.2 and the forward P/E is 12.4. Wendy's earned a return on equity of 87.6% and a return on invested capital of 6.1% in fiscal 2025. It ended the year with $4.1 billion of debt and $300.8 million in cash and short-term investments, net debt of $3.8 billion. It returned $330.4 million to shareholders: $129.6 million in dividends and $200.8 million in share buybacks, 136% of free cash flow. The share count fell 27.3% from 266.7M to 194.0M over 9 years.
See the WEN income statement, the WEN chart for price history, or the WEN stock overview for the latest quote and news.
WEN key metrics FAQ
What is Wendy's's P/E ratio?
Wendy's's trailing P/E ratio is 10.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 12.4. At the end of fiscal 2025 it was 9.8, compared with a 10-year median of 24.0.
What is Wendy's's EV/EBITDA?
Wendy's's enterprise value was 10.4 times EBITDA at the end of fiscal 2025 (enterprise value $5.5 billion, EBITDA $524.6 million); the current EV/EBITDA is 10.3.
What is Wendy's's return on equity?
Wendy's's return on equity (ROE) was 87.6% in fiscal 2025: net income of $165.1 million on average shareholders' equity of $188.4 million. ROE is high partly because years of buybacks have reduced equity on the balance sheet.
What is Wendy's's ROIC?
Wendy's's return on invested capital was 6.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Wendy's have?
Wendy's had total debt of $4.1 billion at the end of fiscal 2025, a debt-to-equity ratio of 35.31 and $3.8 billion of net debt (7.33 times EBITDA).
What is Wendy's's dividend yield?
Wendy's's forward dividend yield is 4.18%. Wendy's paid $129.6 million in dividends in fiscal 2025 ($0.67 per share), a payout ratio of 78.5%.
Does Wendy's buy back its shares?
Yes. Wendy's spent $200.8 million on net share repurchases in fiscal 2025 Shares outstanding changed −5.6% over the year, to 194.0M..
What is Wendy's's free cash flow yield?
Wendy's generated $242.6 million of free cash flow in fiscal 2025, a free cash flow yield of 15.0% on its market value at year-end ($1.6 billion).
What is Wendy's's current ratio?
Wendy's's current ratio was 1.76 at the end of fiscal 2025: current assets were 1.76 times current liabilities.