WEN FY 2022 Earnings Report — The Wendy's Company Revenue & Financial Results | Market Cap Arena

The Wendy's CompanyWEN

FY 2022 Earnings

Reported March 1, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$2.1B	—	$1.9B	—	10.5%
Op. Income	$353M	—	$367M	—	-3.7%
Gross Margin	34.4%	—	28.3%	—	6.1pp
Net Margin	8.5%	—	10.6%	—	-2.1pp
EPS (Diluted)	$0.82	—	$0.89	—	-7.9%
Free Cash Flow	$174M	—	$268M	—	-34.9%

Revenue Flow

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.4B
GROSS PROFIT	$721M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$255M
SG&A Expenses	$255M
Other Expenses	$112M
Operating Expenses	$367M
Cost & Expenses	$1.7B
OPERATING INCOME	$353M
Interest Income	$0
Interest Expense	$122M
Other Income/Expenses	-$110M
INCOME BEFORE TAX	$244M
Income Tax Expense	$66M
Net Income from Continuing Ops	$177M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$177M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$177M
D&A	$136M
EBIT	$366M
EBITDA	$502M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.4B
GROSS PROFIT	$721M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$255M
SG&A Expenses	$255M
Other Expenses	$112M
Operating Expenses	$367M
Cost & Expenses	$1.7B
OPERATING INCOME	$353M
Interest Income	$0
Interest Expense	$122M
Other Income/Expenses	-$110M
INCOME BEFORE TAX	$244M
Income Tax Expense	$66M
Net Income from Continuing Ops	$177M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$177M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$177M
D&A	$136M
EBIT	$366M
EBITDA	$502M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$177M
Depreciation & Amortization	$136M
Stock-Based Compensation	$25M
Deferred Income Tax	$4M
Other Non-Cash Items	-$37M
Change in Working Capital	-$45M
OPERATING CASH FLOW	$260M
Capital Expenditure	-$86M
Acquisitions (Net)	$8M
Purchases of Investments	-$4M
Sales/Maturities of Investments	$0
Other Investing Activities	$3M
NET CASH FROM INVESTING	-$78M
Net Debt Issuance	$456M
Common Stock Repurchased	-$52M
Common Dividends Paid	-$107M
Other Financing Activities	-$9M
NET CASH FROM FINANCING	$289M
FREE CASH FLOW	$174M
Net Change in Cash	$465M

Balance Sheet

Item	Amount
Cash & Equivalents	$746M
Short-Term Investments	$0
Net Receivables	$187M
Inventory	$7M
Other Current Assets	$189M
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$1.9B
Goodwill	$773M
Intangible Assets	$1.2B
Long-Term Investments	$363M
Tax Assets	$270M
Other Non-Current Assets	-$99M
TOTAL NON-CURRENT ASSETS	$4.4B
TOTAL ASSETS	$5.5B
Account Payables	$44M
Short-Term Debt	$29M
Deferred Revenue	$9M
Other Current Liabilities	$170M
TOTAL CURRENT LIABILITIES	$388M
Long-Term Debt	$2.8B
Deferred Revenue NC	$90M
Deferred Tax Liabilities	$270M
Other Non-Current Liabilities	$99M
TOTAL NON-CURRENT LIABILITIES	$4.6B
TOTAL LIABILITIES	$5.0B
Common Stock	$47M
Additional Paid-In Capital	$2.9B
Retained Earnings	$415M
Treasury Stock	-$2.9B
Accum. Other Comp. Income	-$64M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$466M
Minority Interest	$0
TOTAL EQUITY	$466M
TOTAL LIABILITIES & EQUITY	$5.5B
Total Debt	$4.3B
Net Debt	$3.5B