Wendy's (WEN) FY2013 results: revenue $2.4 billion, down 3.3% on the year
Wendy's Co. (WEN) reported revenue of $2.4 billion for fiscal 2013, the year ended 29 December 2013, down 3.3% on the year before. Net income was $45 million, up 542.2%, and diluted earnings per share $0.11. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2014.
Revenue
$2.4 billion
-3.3% on the year
FY2008FY2013
Operating margin
5.7%
4.9% a year earlier
FY2008FY2013
Net income
$45 million
+542.2% on the year
FY2008FY2013
Diluted EPS
$0.11
+450.0% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
2,424
2,505
2,431
-3.3%
Cost of revenue
1,781
1,881
1,816
-5.3%
Gross profit
643
624
615
+3.0%
Gross margin
26.5%
24.9%
25.3%
Operating income
139
123
137
+13.5%
Operating margin
5.7%
4.9%
5.6%
Interest expense
68.6
98.6
114
-30.4%
Pre-tax income
63.6
-13.1
24.4
Income tax
16.1
-21.1
6.5
Effective tax rate
25.3%
n/a
26.7%
Net income
45.5
7.1
9.9
+542.2%
Net margin
1.9%
0.3%
0.4%
Diluted EPS
$0.11
$0.02
$0.02
+450.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
330
190
247
+73.2%
Capital expenditure
224
198
147
+13.5%
Free cash flow
106
-7.2
100.0
Free cash flow margin
4.4%
-0.3%
4.1%
Cash from investing
-76.7
-189
-58.2
Cash from financing
-123
-24.1
-225
Depreciation and amortisation
200
154
145
+29.9%
Share-based compensation
19.6
11.5
17.0
+70.9%
Buybacks
69.3
0.0
158
Dividends paid
70.7
39.0
32.4
+81.0%
Dividend per share
$0.18
$0.10
$0.08
+80.0%
Diluted shares, weighted
399m
392m
407m
+1.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,929
1,986
1,996
-2.8%
Non-controlling interest
n/a
0.0
n/a
Debt
1,464
1,458
1,357
+0.4%
Other liabilities
970
860
936
+12.8%
Total liabilities and equity
4,363
4,303
4,289
+1.4%
Fixed assets
1,133
1,250
1,192
-9.4%
Goodwill
843
876
870
-3.8%
Intangible assets
1,306
1,302
1,304
+0.3%
Investments
83.2
113
119
-26.6%
Cash and equivalents
580
453
475
+28.0%
Inventory
10.2
13.8
12.9
-25.9%
Other assets
408
295
315
+38.4%
Total assets
4,363
4,303
4,289
+1.4%
10-K for the year ended 29 December 2013, filed 27 February 2014: the filing.