Wendy's (WEN) FY2019 results: revenue $1.7 billion, up 7.5% on the year
Wendy's Co. (WEN) reported revenue of $1.7 billion for fiscal 2019, the year ended 29 December 2019, up 7.5% on the year before. Net income was $137 million, down 70.2%, and diluted earnings per share $0.58. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$1.7 billion
+7.5% on the year
FY2012FY2019
Operating margin
15.4%
15.7% a year earlier
FY2012FY2019
Net income
$137 million
-70.2% on the year
FY2012FY2019
Diluted EPS
$0.58
-69.1% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,709
1,590
1,223
+7.5%
Cost of revenue
598
549
518
+8.9%
Gross profit
1,111
1,041
705
+6.7%
Gross margin
65.0%
65.5%
57.7%
Operating income
263
250
215
+5.1%
Operating margin
15.4%
15.7%
17.6%
Interest expense
116
120
118
-3.0%
Pre-tax income
171
575
101
-70.2%
Income tax
34.5
115
-93.0
-69.9%
Effective tax rate
20.1%
20.0%
-92.1%
Net income
137
460
194
-70.2%
Net margin
8.0%
28.9%
15.9%
Diluted EPS
$0.58
$1.88
$0.77
-69.1%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
289
224
239
+28.9%
Capital expenditure
74.5
69.9
81.7
+6.6%
Free cash flow
214
154
157
+38.9%
Free cash flow margin
12.6%
9.7%
12.8%
Cash from investing
-54.9
363
-92.2
Cash from financing
-365
-306
-216
Depreciation and amortisation
132
129
126
+2.2%
Share-based compensation
18.7
17.9
20.9
+4.2%
Buybacks
218
270
126
-19.3%
Dividends paid
96.4
80.5
68.3
+19.7%
Dividend per share
$0.42
$0.34
$0.28
+23.5%
Diluted shares, weighted
235m
245m
252m
-4.0%
Shares outstanding at period end
225m
231m
241m
-2.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
516
648
573
-20.4%
Debt
2,280
2,329
2,754
-2.1%
Operating lease liabilities
898
0.0
n/a
Finance lease liabilities
481
447
n/a
+7.5%
Other liabilities
819
868
769
-5.6%
Total liabilities and equity
4,995
4,292
4,097
+16.4%
Fixed assets
977
1,023
1,063
-4.5%
Goodwill
756
748
743
+1.1%
Intangible assets
1,247
1,294
1,322
-3.6%
Investments
45.9
47.7
56.0
-3.6%
Cash and equivalents
300
431
171
-30.4%
Receivables
101
n/a
n/a
Inventory
3.9
3.7
3.2
+5.5%
Other assets
1,564
744
739
+110.2%
Total assets
4,995
4,292
4,097
+16.4%
10-K for the year ended 29 December 2019, filed 26 February 2020: the filing.