Wendy's (WEN) FY2020 results: revenue $1.7 billion, up 1.5% on the year
Wendy's Co. (WEN) reported revenue of $1.7 billion for fiscal 2020, the year ended 3 January 2021, up 1.5% on the year before. Net income was $118 million, down 14.0%, and diluted earnings per share $0.52. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2021.
Revenue
$1.7 billion
+1.5% on the year
FY2013FY2020
Operating margin
15.5%
15.4% a year earlier
FY2013FY2020
Net income
$118 million
-14.0% on the year
FY2013FY2020
Diluted EPS
$0.52
-10.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,734
1,709
1,590
+1.5%
Cost of revenue
615
598
549
+2.9%
Gross profit
1,119
1,111
1,041
+0.7%
Gross margin
64.5%
65.0%
65.5%
Operating income
269
263
250
+2.6%
Operating margin
15.5%
15.4%
15.7%
Interest expense
118
116
120
+1.5%
Pre-tax income
153
171
575
-10.9%
Income tax
35.0
34.5
115
+1.2%
Effective tax rate
22.9%
20.1%
20.0%
Net income
118
137
460
-14.0%
Net margin
6.8%
8.0%
28.9%
Diluted EPS
$0.52
$0.58
$1.88
-10.3%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
284
289
224
-1.6%
Capital expenditure
69.0
74.5
69.9
-7.4%
Free cash flow
215
214
154
+0.4%
Free cash flow margin
12.4%
12.6%
9.7%
Cash from investing
-68.2
-54.9
363
Cash from financing
-158
-365
-306
Depreciation and amortisation
133
132
129
+0.8%
Share-based compensation
18.9
18.7
17.9
+1.4%
Buybacks
62.2
218
270
-71.5%
Dividends paid
64.9
96.4
80.5
-32.7%
Dividend per share
$0.29
$0.42
$0.34
-31.0%
Diluted shares, weighted
228m
235m
245m
-3.0%
Shares outstanding at period end
224m
225m
231m
-0.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
550
516
648
+6.4%
Debt
2,247
2,280
2,329
-1.5%
Operating lease liabilities
865
898
0.0
-3.6%
Finance lease liabilities
506
481
447
+5.2%
Other liabilities
872
819
868
+6.4%
Total liabilities and equity
5,040
4,995
4,292
+0.9%
Fixed assets
916
977
1,023
-6.3%
Goodwill
751
756
748
-0.6%
Intangible assets
1,225
1,247
1,294
-1.8%
Investments
44.6
45.9
47.7
-3.0%
Cash and equivalents
307
300
431
+2.3%
Receivables
93.7
101
n/a
-6.8%
Inventory
4.7
3.9
3.7
+21.6%
Other assets
1,698
1,564
744
+8.6%
Total assets
5,040
4,995
4,292
+0.9%
10-K for the year ended 3 January 2021, filed 3 March 2021: the filing.