Wendy's (WEN)
Operates a restaurant system through franchising, company-operated locations, and real-estate activity.
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Operates a quick-service restaurant system centered on square hamburgers made with fresh beef and Frosty desserts. Business activity spans restaurants, franchising, and real estate, with most locations run by franchisees.
Operates and develops the Wendy's quick-service restaurant system, built around square hamburgers made with fresh beef and the Frosty dessert. Its adjusted-EBITDA segments are Wendy's U.S., Wendy's International, and Global Real Estate & Development.
Most restaurants are run by franchisees, while the company also operates restaurants and owns or leases properties used by its system. The business combines restaurant operations, franchising, and real-estate activity.
Founded from Dave Thomas's 1969 Columbus restaurant, the brand carries forward its Quality is our Recipe® guidepost and adoption-related programs. The restaurant system has 7,397 restaurants.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 15, 2026 | Seaport Global | Initiate | Rating: — | |
| Aug 10, 2026 | UBS | Reiterate | Rating: —Target: $7.50 | Target: $8 |
| Aug 10, 2026 | Morgan Stanley | Target | Target: $7 | Target: $5.50 |
| May 13, 2026 | Argus Research | Upgrade | Target: $26 | Target: $12 |
| May 11, 2026 | BMO Capital | Reiterate | Rating: —Target: $9 | Target: $8 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 28, 2026Cash & short-term investments $341.2M · Total debt $4.07B · Total assets $4.88B · Shareholders' equity $120.5M
- Revenue
- $570.6M
- Operating income
- $79.3M
- Net income
- $32.6M
HistoryDividendAnnual yield
| Institutions | 97.88% | 186.63M shares | |
|---|---|---|---|
| 447 holders · as of Jun 30, 2026 | |||
| Insiders | 17.10% | 32.61M shares | |
| 22 holders · as of Aug 18, 2026 | |||
| Adds to | 114.98% | ||
190.67M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 114.98%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Nelson Peltz1Insiderdirector, 10 percent owner | 16.21% | 30.91M | filed Feb 18, 2026 |
Trian Fund Management, L.P.Institution | 15.98% | 30.47M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 13.80% | 26.31M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.40% | 10.30M | as of Jun 30, 2026 |
Fairfax Financial Holdings Ltd/ CanInstitution | 4.20% | 8.01M | as of Jun 30, 2026 |
- Nelson Peltz's transaction reports restate only vehicles that traded; the 2026 ownership statement (30.91M) is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Nov 19, 2025 | John Min | officer: Chief Legal Ofcr & Secretary | +1,700 | $8.18 |
| Nov 20, 2025 | Peter J. JR Suerken | officer: President, U.S. | +500 | $7.88 |
- McDonald's
Global quick-service burger leader with scale in breakfast and digital
- Restaurant Brands International
Burger King owner with global burger, value and convenience overlap
- Jack-in-the-Box
Regional quick-service burger chain with broad daypart overlap
- Shake Shack
Fast-casual burger chain spanning premium burgers, fries and shakes
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Wendy's | $6.75 | −0.86% | $1.30B | 10.3 | 13.8 | 0.6 | +1.7% |
| McDonald's | $238.82 | −4.61% | $177.88B | 20.3 | 18.0 | 6.4 | +3.7% |
| Restaurant Brands International | $71.29 | −0.86% | $24.95B | 21.2 | 16.8 | 2.6 | +4.6% |
| Jack-in-the-Box | $13.22 | −1.38% | $255.6M | 7.7 | — | 0.2 | −22.6% |
| Shake Shack | $57.54 | −0.95% | $2.34B | 61.6 | 46.7 | 1.5 | +17.2% |
| Median | 20.8 | 18.0 | 2.0 | +4.2% |