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The Wendy's Company (WEN)
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The Wendy's Company Balance Sheet 2025-2007 | WEN
Brief overview of The Wendy's Company's assets and capital
Balance sheet changes are traced across five available annual reports between 2021 and 2025.
The size of the balance sheet remained broadly stable, moving from $5 billion to $5 billion. There was no meaningful expansion.
Liabilities expanded faster than the asset base, +7.8% versus -1.7%. Debt-service capacity deserves attention.
Internal capital represents 2.4% of the balance sheet versus 10.9% five periods ago. The cushion is thin.
Net debt exceeds equity by 21.13x. The burden makes the balance sheet sensitive to earnings, rates and cash flow.
Cash represents 6.1% of assets versus 6.1% initially, showing how the immediate liquidity reserve changed.
Retained earnings stand at $435.1 million; the five-period change was +82.3%. This reflects accumulated business performance.
Overall assessment
The Wendy's Company's financial structure calls for caution. Stronger equity, lower debt or restored liquidity would be needed to improve it.
Annual Balance Sheet The Wendy's Company
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2008 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
2.48 B | 2.26 B | 2.27 B | 2.15 B | 1.96 B | - | 2.47 B | 2.35 B | 2.31 B | 2.1 B | - | 1.17 B | 884 M | 882 M | 1.06 B | 909 M | - | - |
Long Term Debt |
2.73 B | 2.66 B | 2.73 B | 2.36 B | 2.22 B | - | 2.74 B | 2.75 B | 2.49 B | 2.4 B | - | 1.38 B | 1.43 B | 1.35 B | 1.55 B | 1.5 B | - | - |
Long Term Debt Current |
51.1 M | 50.1 M | 49.4 M | 47.3 M | 45.3 M | - | 43.8 M | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
4.49 B | 4.38 B | 4.49 B | 4.24 B | 4.08 B | - | 4.13 B | 3.36 B | 3.18 B | 3.09 B | - | 2.08 B | 2.08 B | 1.94 B | 2.15 B | - | - | - |
Total Current Liabilities |
351 M | 398 M | 382 M | 427 M | 413 M | - | 350 M | 284 M | 227 M | 269 M | - | 340 M | 350 M | 287 M | 421 M | 475 M | - | - |
Total Liabilities |
4.84 B | 4.78 B | 4.87 B | 4.66 B | 4.49 B | - | 4.48 B | 3.64 B | 3.41 B | 3.36 B | - | 2.42 B | 2.43 B | 2.3 B | 2.57 B | - | - | - |
Deferred Revenue |
- | - | 8.98 M | 9.08 M | 8.69 M | - | 271 M | 269 M | 447 M | 460 M | - | 73.7 M | 482 M | 93.4 M | 34.4 M | - | - | - |
Retained Earnings |
435 M | 400 M | 410 M | 344 M | 239 M | - | 186 M | 146 M | -291 M | -357 M | - | -446 M | -492 M | -435 M | -412 M | -380 M | - | - |
Total Assets |
4.96 B | 5.03 B | 5.18 B | 5.1 B | 5.04 B | - | 4.99 B | 4.29 B | 3.94 B | 4.11 B | - | 4.14 B | 4.36 B | 4.3 B | 4.73 B | 4.98 B | - | - |
Cash and Cash Equivalents |
301 M | 451 M | 516 M | 249 M | 307 M | - | 300 M | 431 M | 171 M | 327 M | - | 267 M | 580 M | 453 M | 513 M | 592 M | 90.1 M | 78.1 M |
Book Value |
117 M | 259 M | 310 M | 436 M | 550 M | - | 516 M | 648 M | 528 M | 753 M | - | 1.72 B | 1.93 B | 2 B | 2.16 B | 4.98 B | - | - |
Total Shareholders Equity |
117 M | 259 M | 310 M | 436 M | 550 M | - | 516 M | 648 M | 573 M | 753 M | - | 1.72 B | 1.93 B | 1.99 B | 2.16 B | 2.34 B | 2.38 B | 450 M |
Annual performance
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All numbers in USD currency
Quarterly Balance Sheet The Wendy's Company
| 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q4 | 2010-Q3 | 2010-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
582 M | 596 M | 627 M | 660 M | 680 M | 690 M | 684 M | 704 M | 713 M | 714 M | 729 M | 739 M | 753 M | 765 M | 777 M | 792 M | 805 M | 824 M | 833 M | 853 M | 830 M | 839 M | 850 M | 865 M | 869 M | 881 M | 881 M | 898 M | 911 M | 931 M | 958 M | 2.31 B | 2.76 B | 2.77 B | 2.78 B | 2.72 B | 2.7 B | 2.7 B | 2.53 B | 2.49 B | 2.49 B | 2.49 B | 2.48 B | 2.4 B | 2.38 B | 2.38 B | 1.39 B | 1.38 B | 1.41 B | 1.42 B | 1.39 B | 1.43 B | 1.43 B | 1.43 B | 1.43 B | 1.44 B | 1.46 B | 1.39 B | 1.44 B | 1.55 B | - | - | 1.53 B | 1.55 B | 1.56 B | 1.56 B |
Total Non Current Liabilities |
4.37 B | 4.41 B | 4.45 B | 4.49 B | 4.07 B | 4.37 B | 4.36 B | 4.38 B | 4.44 B | 4.45 B | 4.47 B | 4.49 B | 4.54 B | 4.57 B | 4.59 B | 4.65 B | 4.67 B | 4.69 B | 4.7 B | 4.24 B | 4.21 B | 4.22 B | 4.04 B | 4.08 B | 4.08 B | 4.09 B | 4.1 B | 4.13 B | 4.15 B | 4.17 B | 4.22 B | 3.36 B | 3.39 B | 3.4 B | 3.4 B | 3.3 B | 3.39 B | 3.39 B | 3.22 B | 3.18 B | 3.17 B | 3.16 B | 3.16 B | 3.09 B | 3.07 B | 3.07 B | - | 2.08 B | 2.08 B | 2.1 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
4.74 B | 4.76 B | 4.81 B | 4.84 B | 4.87 B | 4.78 B | 4.79 B | 4.78 B | 4.81 B | 4.81 B | 4.9 B | 4.87 B | 4.95 B | 4.96 B | 4.99 B | 5.03 B | 5.09 B | 5.09 B | 5.11 B | 4.66 B | 4.61 B | 4.6 B | 4.44 B | 4.49 B | 4.44 B | 4.59 B | 4.53 B | 4.48 B | 4.49 B | 4.52 B | 4.54 B | 3.64 B | 3.72 B | 3.65 B | 3.65 B | 3.52 B | 3.63 B | 3.62 B | 3.43 B | 3.41 B | 3.44 B | 3.44 B | 3.42 B | 3.36 B | 3.38 B | 3.37 B | - | 2.42 B | 2.42 B | 2.42 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Deferred Revenue |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 8.98 M | 8.47 M | 9.86 M | 9.95 M | 9.08 M | 8.97 M | 9.12 M | 8.72 M | 8.69 M | 9.21 M | 9.18 M | 8.98 M | 8.9 M | 9.31 M | 9.68 M | 9.14 M | 9.97 M | 10.5 M | 10.6 M | 10 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
439 M | 437 M | 431 M | 435 M | 435 M | 418 M | 389 M | 400 M | 403 M | 404 M | 400 M | 410 M | 414 M | 408 M | 401 M | 415 M | 400 M | 376 M | 355 M | 344 M | 318 M | 303 M | 260 M | 239 M | 216 M | 187 M | 173 M | 186 M | 186 M | 163 M | 154 M | 146 M | 147 M | -224 M | -234 M | -163 M | -306 M | -303 M | -284 M | -291 M | -304 M | -337 M | -347 M | -357 M | -426 M | -418 M | -439 M | -446 M | -449 M | -454 M | -446 M | -492 M | -492 M | -492 M | -492 M | -467 M | -467 M | -467 M | -467 M | -412 M | - | - | -422 M | -412 M | -393 M | -386 M |
Total Assets |
4.86 B | 4.88 B | 4.92 B | 4.96 B | 4.98 B | 4.89 B | 4.92 B | 5.03 B | 5.07 B | 5.09 B | 5.19 B | 5.18 B | 5.29 B | 5.35 B | 5.41 B | 5.5 B | 5.52 B | 5.52 B | 5.56 B | 5.1 B | 5.16 B | 5.17 B | 4.96 B | 5.04 B | 4.96 B | 5.07 B | 4.98 B | 4.99 B | 5.14 B | 5.16 B | 5.19 B | 4.29 B | 4.51 B | 4.08 B | 4.11 B | 4.1 B | 4.09 B | 4.11 B | 3.95 B | 3.94 B | 4.11 B | 4.14 B | 4.15 B | 4.11 B | 4.08 B | 5.11 B | 4.13 B | 4.14 B | 4.18 B | 4.16 B | 4.15 B | 4.36 B | 4.36 B | 4.36 B | 4.36 B | 4.3 B | 4.3 B | 4.3 B | 4.3 B | 4.73 B | - | - | 4.74 B | 4.73 B | 4.85 B | 4.84 B |
Cash and Cash Equivalents |
432 M | 395 M | 362 M | 358 M | 352 M | 330 M | 389 M | 504 M | 555 M | 525 M | 593 M | 589 M | 673 M | 700 M | 741 M | 832 M | 821 M | 797 M | 828 M | 367 M | 653 M | 640 M | 408 M | 418 M | 406 M | 409 M | 386 M | 359 M | 498 M | 484 M | 472 M | 487 M | 681 M | 239 M | 242 M | 213 M | 225 M | 251 M | 266 M | 276 M | 309 M | 266 M | 313 M | 385 M | 176 M | 1.2 B | 203 M | 206 M | 342 M | 372 M | 267 M | 174 M | 580 M | 580 M | 580 M | 188 M | 453 M | 453 M | 453 M | 513 M | 489 M | 500 M | 500 M | 508 M | 521 M | 508 M |
Book Value |
124 M | 120 M | 116 M | 117 M | 109 M | 113 M | 130 M | 259 M | 260 M | 274 M | 294 M | 310 M | 343 M | 391 M | 420 M | 466 M | 437 M | 423 M | 455 M | 436 M | 543 M | 570 M | 521 M | 550 M | 522 M | 484 M | 451 M | 516 M | 650 M | 648 M | 641 M | 648 M | 783 M | 431 M | 463 M | 573 M | 463 M | 487 M | 525 M | 528 M | 679 M | 693 M | 734 M | 753 M | 705 M | 1.74 B | 4.13 B | 1.72 B | 1.76 B | 1.74 B | 4.15 B | 4.36 B | 4.36 B | 4.36 B | 4.36 B | 4.3 B | 4.3 B | 4.3 B | 4.3 B | 4.73 B | - | - | 4.74 B | 4.73 B | 4.85 B | 4.84 B |
Total Shareholders Equity |
124 M | 120 M | 116 M | 117 M | 109 M | 113 M | 130 M | 259 M | 260 M | 274 M | 294 M | 310 M | 343 M | 391 M | 420 M | 466 M | 437 M | 423 M | 455 M | 436 M | 543 M | 570 M | 521 M | 550 M | 522 M | 484 M | 451 M | 516 M | 650 M | 648 M | 641 M | 648 M | 783 M | 431 M | 463 M | 573 M | 463 M | 487 M | 525 M | 528 M | 679 M | 693 M | 734 M | 753 M | 705 M | 1.74 B | 1.72 B | 1.72 B | 1.73 B | 1.74 B | 1.72 B | 1.93 B | 1.93 B | 1.93 B | 1.93 B | 1.99 B | 1.99 B | 1.99 B | 1.99 B | 2.16 B | 2 B | 2.13 B | 2.17 B | 2.16 B | 2.17 B | 2.17 B |
Quarterly performance
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All numbers in USD currency
Balance Sheet is a fundamental financial report of The Wendy's Company, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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