Wendy's (WEN) FY2023 results: revenue $2.2 billion, up 4.1% on the year
Wendy's Co. (WEN) reported revenue of $2.2 billion for fiscal 2023, the year ended 31 December 2023, up 4.1% on the year before. Net income was $204 million, up 15.3%, and diluted earnings per share $0.97. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2024.
Revenue
$2.2 billion
+4.1% on the year
FY2016FY2023
Operating margin
17.5%
16.9% a year earlier
FY2016FY2023
Net income
$204 million
+15.3% on the year
FY2016FY2023
Diluted EPS
$0.97
+18.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
345
260
346
+32.9%
Capital expenditure
85.0
85.5
78.0
-0.6%
Free cash flow
260
174
268
+49.3%
Free cash flow margin
11.9%
8.3%
14.1%
Cash from investing
-86.5
-77.8
-155
Cash from financing
-504
289
-243
Depreciation and amortisation
136
133
126
+1.8%
Share-based compensation
23.7
24.5
22.0
-3.2%
Buybacks
190
52.0
269
+264.9%
Dividends paid
209
107
94.8
+96.0%
Dividend per share
$1.00
$0.50
$0.43
+100.0%
Diluted shares, weighted
212m
216m
224m
-2.0%
Shares outstanding at period end
205m
213m
216m
-3.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
310
466
436
-33.5%
Debt
2,762
2,851
2,381
-3.1%
Operating lease liabilities
739
792
853
-6.7%
Finance lease liabilities
569
572
560
-0.5%
Other liabilities
803
818
871
-1.9%
Total liabilities and equity
5,183
5,499
5,101
-5.8%
Fixed assets
891
896
907
-0.5%
Goodwill
774
773
775
+0.1%
Intangible assets
1,219
1,249
1,281
-2.4%
Investments
34.4
46.0
49.9
-25.2%
Cash and equivalents
516
746
249
-30.8%
Receivables
105
98.6
102
+6.3%
Inventory
6.7
7.1
5.9
-6.2%
Other assets
1,637
1,684
1,732
-2.8%
Total assets
5,183
5,499
5,101
-5.8%
10-K for the year ended 31 December 2023, filed 26 February 2024: the filing.