Wendy's (WEN) FY2017 results: revenue $1.2 billion, down 14.8% on the year
Wendy's Co. (WEN) reported revenue of $1.2 billion for fiscal 2017, the year ended 31 December 2017, down 14.8% on the year before. Net income was $194 million, up 49.7%, and diluted earnings per share $0.77. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2018.
Revenue
$1.2 billion
-14.8% on the year
FY2010FY2017
Operating margin
17.6%
21.9% a year earlier
FY2010FY2017
Net income
$194 million
+49.7% on the year
FY2010FY2017
Diluted EPS
$0.77
+57.1% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,223
1,435
1,870
-14.8%
Cost of revenue
518
752
1,184
-31.1%
Gross profit
705
683
686
+3.2%
Gross margin
57.7%
47.6%
36.7%
Operating income
215
315
274
-31.8%
Operating margin
17.6%
21.9%
14.7%
Interest expense
118
115
86.1
+2.8%
Pre-tax income
101
202
234
-49.9%
Income tax
-93.0
72.1
94.1
Effective tax rate
-92.1%
35.7%
40.2%
Net income
194
130
161
+49.7%
Net margin
15.9%
9.0%
8.6%
Diluted EPS
$0.77
$0.49
$0.49
+57.1%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
239
194
274
+23.2%
Capital expenditure
81.7
150
252
-45.5%
Free cash flow
157
43.8
22.7
+258.6%
Free cash flow margin
12.8%
3.1%
1.2%
Cash from investing
-92.2
107
35.4
Cash from financing
-216
-412
-238
Depreciation and amortisation
126
124
154
+1.1%
Share-based compensation
20.9
18.1
23.2
+15.4%
Buybacks
126
337
1,099
-62.5%
Dividends paid
68.3
63.8
71.8
+7.0%
Dividend per share
$0.28
$0.24
$0.23
+14.3%
Diluted shares, weighted
252m
267m
329m
-5.4%
Shares outstanding at period end
241m
247m
272m
-2.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
573
528
753
+8.6%
Debt
2,754
2,512
2,426
+9.6%
Other liabilities
769
899
930
-14.5%
Total liabilities and equity
4,097
3,939
4,109
+4.0%
Fixed assets
1,063
1,192
1,228
-10.9%
Goodwill
743
741
771
+0.3%
Intangible assets
1,322
1,323
1,340
-0.1%
Investments
56.0
57.0
58.4
-1.7%
Cash and equivalents
171
198
327
-13.5%
Inventory
3.2
2.9
4.3
+10.7%
Other assets
739
425
381
+73.8%
Total assets
4,097
3,939
4,109
+4.0%
10-K for the year ended 31 December 2017, filed 28 February 2018: the filing.