Wendy's (WEN) FY2018 results: revenue $1.6 billion, up 30.0% on the year
Wendy's Co. (WEN) reported revenue of $1.6 billion for fiscal 2018, the year ended 30 December 2018, up 30.0% on the year before. Net income was $460 million, up 137.1%, and diluted earnings per share $1.88. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$1.6 billion
+30.0% on the year
FY2011FY2018
Operating margin
15.7%
17.6% a year earlier
FY2011FY2018
Net income
$460 million
+137.1% on the year
FY2011FY2018
Diluted EPS
$1.88
+144.2% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,590
1,223
1,435
+30.0%
Cost of revenue
549
518
752
+5.9%
Gross profit
1,041
705
683
+47.6%
Gross margin
65.5%
57.7%
47.6%
Operating income
250
215
315
+16.4%
Operating margin
15.7%
17.6%
21.9%
Interest expense
120
118
115
+1.3%
Pre-tax income
575
101
202
+469.1%
Income tax
115
-93.0
72.1
Effective tax rate
20.0%
-92.1%
35.7%
Net income
460
194
130
+137.1%
Net margin
28.9%
15.9%
9.0%
Diluted EPS
$1.88
$0.77
$0.49
+144.2%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
224
239
194
-6.1%
Capital expenditure
69.9
81.7
150
-14.5%
Free cash flow
154
157
43.8
-1.7%
Free cash flow margin
9.7%
12.8%
3.1%
Cash from investing
363
-92.2
107
Cash from financing
-306
-216
-412
Depreciation and amortisation
129
126
124
+2.5%
Share-based compensation
17.9
20.9
18.1
-14.4%
Buybacks
270
126
337
+113.7%
Dividends paid
80.5
68.3
63.8
+17.9%
Dividend per share
$0.34
$0.28
$0.24
+21.4%
Diluted shares, weighted
245m
252m
267m
-2.9%
Shares outstanding at period end
231m
241m
247m
-3.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
648
573
528
+13.1%
Debt
2,329
2,754
2,512
-15.5%
Operating lease liabilities
0.0
n/a
n/a
Finance lease liabilities
447
n/a
n/a
Other liabilities
868
769
899
+12.8%
Total liabilities and equity
4,292
4,097
3,939
+4.8%
Fixed assets
1,023
1,063
1,192
-3.7%
Goodwill
748
743
741
+0.6%
Intangible assets
1,294
1,322
1,323
-2.1%
Investments
47.7
56.0
57.0
-14.9%
Cash and equivalents
431
171
198
+151.6%
Inventory
3.7
3.2
2.9
+16.8%
Other assets
744
739
425
+0.7%
Total assets
4,292
4,097
3,939
+4.8%
10-K for the year ended 30 December 2018, filed 27 February 2019: the filing.