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Wendy's WEN Global Real Estate & Development — Franchise rental expense

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Other financials

Income statement

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Revenue$570.6M+1.7%
Gross profit$363.3M-0.3%
Operating income$79.3M-24.0%
Net income$32.6M-40.8%
EPS (diluted)$0.17-41.4%

Balance sheet

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Cash & equivalents$394.8M+19.6%
Total debt$4.1B-0.4%
Total equity$120.5M+6.7%
Total assets$4.9B-0.2%

Cash flow

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Operating cash flow$100.6M+66.0%
CapEx$19.6M-8.5%
Free cash flow$81.0M+107%

Valuation

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Market cap$1.46B-25.4%
Enterprise value$5.14B-10.1%
P/E11.6×+1.4×
P/S0.7×-0.2×

Profitability

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Gross margin63%-2.1pp
Operating margin13.6%-3.4pp
Net margin5.7%-2.9pp
FCF margin12%+0.4pp

Returns & leverage

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Return on equity108%+8.7pp
Debt / equity33.8×-2.4×
Current ratio1.9×+0.5×

Where this comes from

Reported directly by Wendy's in its filing.

Tagged under the XBRL concept wen:FranchiseRentalExpense.

The source filing: Wendy's’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 4:15 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q3 2026
Accession
0000030697-26-000116
Line itemThree Months Ended / June 28,2026Three Months Ended / June 29,2025Six Months Ended / June 28,2026Six Months Ended / June 29,2025
Costs and expenses:
Cost of sales207,275196,521408,324384,690
Franchise support and other costs22,56617,06944,55733,665
Franchise rental expense28,03932,63058,21563,331
Advertising funds expense127,879111,374236,494212,902
General and administrative66,16159,485139,004127,689
Depreciation and amortization (exclusive of amortization of cloud computing arrangements shown separately below)38,06136,99078,63673,539
Amortization of cloud computing arrangements4,5774,0569,3398,223

Item 1. Financial Statements.

FAQ

What is Wendy's's global real estate & development — franchise rental expense?
Wendy's (WEN) reported global real estate & development — franchise rental expense of $28.04M in Q2 2026.
How has Wendy's's global real estate & development — franchise rental expense changed year-over-year?
Wendy's's global real estate & development — franchise rental expense decreased by 14.1% year-over-year, from $32.63M to $28.04M.
What is the long-term trend for Wendy's's global real estate & development — franchise rental expense?
Over 3 years (2022 to 2025), Wendy's's global real estate & development — franchise rental expense has grown at a 0.5% compound annual growth rate (CAGR), from $124.08M to $125.77M.
What does global real estate & development — franchise rental expense mean?
Captures the costs incurred by the company related to leasing or maintaining properties that are subsequently subleased or rented to franchisees. Monitoring this expense is essential for understanding the net profitability of the company's real estate leasing model.

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