What is Wendy's's net debt / EBITDA?

Wendy's (WEN) reported net debt / EBITDA of 7.8× in Q1 2026.

How has Wendy's's net debt / EBITDA changed year-over-year?

Wendy's's net debt / EBITDA increased by 9.5% year-over-year, from 7.1× to 7.8×.

What is the long-term trend for Wendy's's net debt / EBITDA?

Over 5 years (2020 to 2025), Wendy's's net debt / EBITDA has grown at a -1.2% compound annual growth rate (CAGR), from 8.1× to 7.6×.

What does net debt / EBITDA mean?

Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.

Wendy's WEN Net debt / EBITDA

Net debt / EBITDA at other companies

McDonald'sMCD

4.1×-0.2×

Yum! BrandsYUM

0.8×+0.7×

Restaurant Brands InternationalQSR

5.5×-0.3×

Biglari Holdings Inc.BH

3.1×—

WingstopWING

5.3×-0.3×

Papa John's InternationalPZZA

5.1×+0.8×

Other financials

Income statement

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Revenue$540.6M+3.3%

Gross profit$339.6M+1.3%

Operating income$64.9M-21.9%

Net income$22.7M-42.1%

EPS (diluted)$0.12-36.8%

Balance sheet

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Cash & equivalents$362.0M-6.9%

Total debt$4.1B+1.0%

Total equity$115.6M-11.3%

Total assets$4.9B+0.1%

Cash flow

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Operating cash flow$59.4M-30.5%

CapEx$11.9M-32.8%

Free cash flow$47.5M-29.9%

Valuation

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Market cap$1.5B-35.1%

Enterprise value$5.25B-12.4%

P/E10.1×-2.0×

P/S0.7×-0.3×

Profitability

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Gross margin63.3%-1.8pp

Operating margin14.8%-1.9pp

Net margin6.8%-1.8pp

FCF margin10.1%-0.9pp

Returns & leverage

See full

Return on equity120.9%+30.5pp

Debt / equity35.6×+4.3×

Current ratio1.8×+0.3×

Where this comes from

Calculated from Wendy's’s reported figures.

net debt/ebitda=7.8×

Based on the most recent quarter.

The official record: Wendy's’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Wendy's's net debt / EBITDA?: Wendy's (WEN) reported net debt / EBITDA of 7.8× in Q1 2026.
How has Wendy's's net debt / EBITDA changed year-over-year?: Wendy's's net debt / EBITDA increased by 9.5% year-over-year, from 7.1× to 7.8×.
What is the long-term trend for Wendy's's net debt / EBITDA?: Over 5 years (2020 to 2025), Wendy's's net debt / EBITDA has grown at a -1.2% compound annual growth rate (CAGR), from 8.1× to 7.6×.
What does net debt / EBITDA mean?: Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.