Wendy's (WEN) FY2016 results: revenue $1.4 billion, down 23.3% on the year
Wendy's Co. (WEN) reported revenue of $1.4 billion for fiscal 2016, the year ended 1 January 2017, down 23.3% on the year before. Net income was $130 million, down 19.6%, and diluted earnings per share $0.49. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2017.
Revenue
$1.4 billion
-23.3% on the year
FY2009FY2016
Operating margin
21.9%
14.7% a year earlier
FY2009FY2016
Net income
$130 million
-19.6% on the year
FY2009FY2016
Diluted EPS
$0.49
0.0% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
1,435
1,870
1,999
-23.3%
Cost of revenue
752
1,184
1,355
-36.5%
Gross profit
683
686
643
-0.4%
Gross margin
47.6%
36.7%
32.2%
Operating income
315
274
243
+14.7%
Operating margin
21.9%
14.7%
12.1%
Interest expense
115
86.1
52.0
+33.4%
Pre-tax income
202
234
193
-13.9%
Income tax
72.1
94.1
76.1
-23.5%
Effective tax rate
35.7%
40.2%
39.5%
Net income
130
161
121
-19.6%
Net margin
9.0%
8.6%
6.1%
Diluted EPS
$0.49
$0.49
$0.32
0.0%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
194
274
255
-29.3%
Capital expenditure
150
252
298
-40.4%
Free cash flow
43.8
22.7
-43.7
+93.0%
Free cash flow margin
3.1%
1.2%
-2.2%
Cash from investing
107
35.4
-188
+202.7%
Cash from financing
-412
-238
-375
Depreciation and amortisation
124
154
160
-19.1%
Share-based compensation
18.1
23.2
28.2
-21.9%
Buybacks
337
1,099
301
-69.3%
Dividends paid
63.8
71.8
75.1
-11.2%
Dividend per share
$0.24
$0.23
$0.21
+8.9%
Diluted shares, weighted
267m
329m
376m
-18.9%
Shares outstanding at period end
247m
272m
n/a
-9.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
528
753
1,718
-29.9%
Debt
2,512
2,426
1,438
+3.6%
Other liabilities
899
930
990
-3.3%
Total liabilities and equity
3,939
4,109
4,146
-4.1%
Fixed assets
1,192
1,228
1,241
-2.9%
Goodwill
741
771
823
-3.8%
Intangible assets
1,323
1,340
1,351
-1.3%
Investments
57.0
58.4
74.1
-2.4%
Cash and equivalents
198
327
267
-39.4%
Inventory
2.9
4.3
6.9
-33.9%
Other assets
425
381
383
+11.7%
Total assets
3,939
4,109
4,146
-4.1%
10-K for the year ended 1 January 2017, filed 2 March 2017: the filing.