The Wendy's Company (WEN)财务
NASDAQ · Consumer Cyclical · Restaurants · 员工14,900人 · CEO Robert D. Wright
- 股价
- $7.21 +0.63%
- 市值
- $13.7亿
- 企业价值
- $51.1亿
- 最近财报
- Q2 '26 2026-08-07提交
- 下次财报
- 2026-11-05 EPS预期 $0.09
营收(TTM)$22亿-1.0% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)13.4%-3.6 百分点 对比去年同期营业利润 $2.95亿
净利润(TTM)$1.26亿-34.4% 对比去年同期税后,含营业外收益
自由现金流(TTM)$2.64亿+2.8% 对比去年同期资本支出 $9430万
稀释EPS(TTM)$0.66-31.2% 对比去年同期最近4个季度之和
净现金-$37.3亿+2.0% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $13.7亿 EV $51.1亿
- 营收
- $22亿 过去12个月
- 营收增速
- +1% FY2026年一致预期
- 净利润率
- 5.7% 净利润 / 营收,TTM
- P/E
- 10.9× 预期 14.8×(FY2026)
- P/S
- 0.6× 股价 / 营收,TTM
- EV / EBITDA
- 10.5× TTM
- 自由现金流
- $2.64亿 过去12个月
- 净利润
- $1.26亿 过去12个月
- 营收预期
- $21.9亿 FY2026年一致预期
- 盈利
- 2026-11-05 营收预期 $5.31亿
- 股息
- $0.56 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-07):营收超预期2.4%,EPS 超预期10.5%营收$5.71亿,预期$5.57亿(+2.4%);EPS $0.18,预期$0.16(+10.5%)。
- 营收增长加速:同比1.7%Q2 '26营收$5.71亿,此前四个季度的平均值为-1.7%。
- 营业利润率13.4%(TTM),较去年同期-3.6 百分点营收增长-1.0%,营业利润增长-21.9%。
- 税前利润的64.7%被营业外亏损吞噬税前利润$1.79亿,营业利润$2.95亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的4.3%(去年为4.4%)最近4个季度投入$9430万(同比-4.7%)。自由现金流$2.64亿,相当于净利润的209.6%。
- 股东回报$1.23亿 = 自由现金流的46.7%回购$1660万(去年为$2.3亿),股息$1.07亿,股权激励$1210万(TTM)。
- 稀释股数一年内减少0.8%Q2 '26稀释股数1.91亿,一年前为1.93亿。
- 净债务 $37.3亿现金 + 短期投资 $3.41亿,含租赁债务 $40.7亿;一年前净债务 $38.1亿。
上一季度:Q2 '26
截至2026-06-28的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $5.71亿 | $5.61亿 | +1.7% |
| 毛利率 | 32.4% | 29.7% | +2.7 百分点 |
| 营业利润 | $7930万 | $1.04亿 | -24.0% |
| 营业利润率 | 13.9% | 18.6% | -4.7 百分点 |
| 净利润 | $3260万 | $5510万 | -40.8% |
| 稀释EPS | $0.17 | $0.29 | -41.4% |
| 经营现金流 | $1.01亿 | $6060万 | +66.0% |
| 资本支出 | $1960万 | $2140万 | -8.5% |
| 自由现金流 | $8100万 | $3920万 | +106.5% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $294万 | $513万 | -42.7% |
实际 vs 一致预期
2026-08-07| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $5.71亿 | $5.57亿 | +2.4% |
| EPS(一致预期口径) | $0.18 | $0.16 | +10.5% |
来自2026-08-07发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Product | $2.4亿 | +3.1% | 42.1% | $9.29亿 | +1.5% | |
| Royalty | $1.24亿 | -6.5% | 21.7% | $6.12亿 | – | |
| Advertising | $1.27亿 | +14.4% | 22.3% | $4.46亿 | -0.8% | |
| Franchise | $2620万 | +8.9% | 4.6% | $1.32亿 | – | |
| Real Estate | $5340万 | -11.7% | 9.4% | $2.29亿 | -3.2% |
按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $4.01亿 | +7.2% | 95.2% | $16.1亿 | +7.4% | |
| CANADA | $2020万 | +9.4% | 4.8% | $8090万 | +8.4% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q2 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Wendys U.S. | – | – | $1.2亿 | -12.2% | – | – | $4.61亿 |
| Wendys International | – | – | $1190万 | -9.9% | – | – | $4300万 |
| Global Real Estate Development | – | – | $2750万 | +0.7% | – | – | $1.14亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $3.58亿
- 资本支出
- -$9430万
- 股票回购
- -$1660万
- 股息
- -$1.07亿
- 收购
- $163万
- 债务净发行
- -$1970万
- 股权激励费用
- $1210万
- 自由现金流
- $2.64亿
- 股东回报 / FCF
- 46.7%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 10.9× | 20.1× | 9.8× – 27.3× |
| EV / EBITDA | 10.5× | 14.5× | 10.4× – 18.7× |
| EV / 营收 | 2.3× | 3.6× | 2.5× – 4.7× |
| 股价 / FCF | 5.2× | 16.5× | 6.7× – 27.7× |
| 股价 / 净资产 | 11.4× | 12.4× | 10.4× – 13.8× |
| FCF收益率 | 19.2% | 7.6% | 3.6% – 15.0% |
| 投入资本回报率 | 4.5% | 5.5% | 4.9% – 6.4% |
| 净资产收益率 | 109.0% | 73.1% | 38.1% – 140.6% |
分析师
一致目标价 $7.80 (+8.2%)
区间 $5.50 – $12.00 · 评级 Hold
强烈买入0
买入12
持有33
卖出6
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $21.9亿 | +0.7% | $0.49 | -42.9% | 14.8× | 14 |
| FY2027 | $21.7亿 | -1.0% | $0.48 | -0.5% | 14.9× | 14 |
| FY2028 | $22.6亿 | +4.2% | $0.56 | +15.6% | 12.9× | 3 |
| FY2029 | $23.4亿 | +3.6% | $0.85 | +51.7% | 8.5× | 1 |
| FY2030 | $23.4亿 | 0.0% | $0.93 | +9.7% | 7.8× | 1 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
The Wendy's Company在近期10-Q / 10-K文件中标记的全部245项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts and Financing Receivable, after Allowance for Credit Loss, Current | $1.09亿 | $1.15亿 | -5.1% | $1.17亿 | $9990万 | +17.4% |
| Accounts and Financing Receivable, Allowance for Credit Loss | $2090万2025-12-28 | $730万 | +186.1% | $2090万 | $730万 | +186.1% |
| Accounts Payable, Current | $2140万 | $2660万 | -19.5% | $3050万 | $2850万 | +7.0% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $1.05亿2025-12-28 | $8680万 | +20.9% | $1.05亿 | $8680万 | +20.9% |
| Accounts Receivable, Allowance for Credit Loss | $1840万2025-12-28 | $515万 | +258.0% | $1840万 | $515万 | +258.0% |
| Accounts Receivable, Allowance for Credit Loss, Current | $1840万2025-12-28 | $515万 | +258.0% | $1840万 | $515万 | +258.0% |
| Accounts Receivable, before Allowance for Credit Loss, Current | $1.23亿2025-12-28 | $9200万 | +34.2% | $1.23亿 | $9200万 | +34.2% |
| Accounts Receivable, Credit Loss Expense (Reversal) | – | – | – | $1500万 | $372万 | +302.4% |
| Accretion Expense | – | – | – | $65.7万 | $67.5万 | -2.7% |
| Accrued Liabilities, Current | $1.25亿 | $1.24亿 | +0.7% | $1.17亿 | $1.18亿 | -1.3% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $8.65亿2025-12-28 | $8.22亿 | +5.3% | $8.65亿 | $8.22亿 | +5.3% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$7080万 | -$6250万 | -13.1% | -$6400万 | -$7480万 | +14.4% |
| Additional Paid in Capital | $29.9亿 | $29.9亿 | +0.1% | $29.9亿 | $29.8亿 | +0.1% |
| Amortization of Debt Issuance Costs | – | – | – | $682万 | $680万 | +0.3% |
| Amortization of Intangible Assets | – | – | – | $6260万 | $6230万 | +0.5% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1250万 | 799万 | +56.6% | 979万 | 785万 | +24.8% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $294万 | $513万 | -42.7% | $1460万 | $2300万 | -36.7% |
| Asset Impairment Charges | $312万 | $169万 | +85.1% | $1210万 | $971万 | +24.5% |
| Assets | $48.8亿 | $48.9亿 | -0.2% | $49.6亿 | $50.3亿 | -1.6% |
| Assets, Current | $6.78亿 | $6亿 | +12.9% | $6.18亿 | $7.36亿 | -16.0% |
| Capital Expenditures Incurred but Not yet Paid | -$218万 | -$3.1万 | -6,916.1% | $710万 | $520万 | +36.6% |
| Cash | $9020万2025-12-28 | $1.31亿 | -31.3% | $9020万 | $1.31亿 | -31.3% |
| Cash and Cash Equivalents, at Carrying Value | $3.41亿 | $2.81亿 | +21.3% | $3.01亿 | $4.51亿 | -33.2% |
| Cash Equivalents, at Carrying Value | $2.11亿2025-12-28 | $3.19亿 | -34.0% | $2.11亿 | $3.19亿 | -34.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $3.95亿 | $3.3亿 | +19.6% | $3.58亿 | $5.04亿 | -29.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | $3430万 | -$6360万 | +153.9% | -$1.5亿 | -$7710万 | -94.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $3270万 | -$5890万 | +155.6% | -$1.46亿 | -$8520万 | -71.3% |
| Common Stock, Dividends, Per Share, Cash Paid | $0.14 | $0.14 | 0.0% | $0.67 | $1.00 | -33.0% |
| Common Stock, Par or Stated Value Per Share | $0.10 | $0.10 | 0.0% | $0.10 | $0.10 | 0.0% |
| Common Stock, Shares Authorized | 15亿 | 15亿 | 0.0% | 15亿 | 15亿 | 0.0% |
| Common Stock, Shares, Issued | 4.7亿 | 4.7亿 | 0.0% | 4.7亿 | 4.7亿 | 0.0% |
| Common Stock, Shares, Outstanding | 1.91亿 | 1.91亿 | -0.4% | 1.9亿 | 2.04亿 | -6.6% |
| Common Stock, Value, Issued | $4700万 | $4700万 | 0.0% | $4700万 | $4700万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $2860万 | $6540万 | -56.2% | $1.76亿 | $1.78亿 | -1.2% |
| Contract with Customer, Liability | $9070万 | $9940万 | -8.7% | $9850万 | $9940万 | -0.9% |
| Contract with Customer, Liability, Noncurrent | $8170万 | $8840万 | -7.6% | $8800万 | $8840万 | -0.5% |
| Cost of Goods and Services Sold | $2.07亿 | $1.97亿 | +5.5% | $7.92亿 | $7.83亿 | +1.1% |
| Costs and Expenses | $4.91亿 | $4.57亿 | +7.6% | $18.3亿 | $18.8亿 | -2.2% |
| Current Federal Tax Expense (Benefit) | – | – | – | $1650万 | $5590万 | -70.4% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1490万 | $1480万 | +0.6% |
| Current Income Tax Expense (Benefit) | – | – | – | $3870万 | $8360万 | -53.7% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $726万 | $1290万 | -43.6% |
| Debt Issuance Costs, Net | $2530万 | $2330万 | +8.6% | $2890万 | $2670万 | +8.3% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $1950万 | -$1080万 | +281.2% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$57.1万 | -$15.2万 | -275.7% |
| Deferred Income Tax Expense (Benefit) | $41.9万 | $51.6万 | -18.8% | $2350万 | -$553万 | +524.3% |
| Deferred Income Tax Liabilities, Net | $2.89亿 | $2.65亿 | +9.0% | $2.88亿 | $2.63亿 | +9.2% |
| Deferred Revenue, Additions | $30.5万 | $249万 | -87.7% | $925万 | $1130万 | -18.2% |
| Deferred Revenue, Revenue Recognized | $377万 | $209万 | +79.9% | $1020万 | $1270万 | -20.0% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $449万 | $541万 | -17.0% |
| Deferred Tax Assets, Deferred Income | $2300万2025-12-28 | $2310万 | -0.6% | $2300万 | $2310万 | -0.6% |
| Deferred Tax Assets, Net of Valuation Allowance | $4.19亿2025-12-28 | $4.21亿 | -0.5% | $4.19亿 | $4.21亿 | -0.5% |
| Deferred Tax Assets, Other | $4650万2025-12-28 | $5160万 | -9.9% | $4650万 | $5160万 | -9.9% |
| Deferred Tax Assets, Other Loss Carryforwards | $5280万2025-12-28 | $5170万 | +2.1% | $5280万 | $5170万 | +2.1% |
| Deferred Tax Assets, Valuation Allowance | $4470万2025-12-28 | $3850万 | +16.1% | $4470万 | $3850万 | +16.1% |
| Deferred Tax Liabilities, Goodwill and Intangible Assets | $2.91亿2025-12-28 | $2.82亿 | +3.2% | $2.91亿 | $2.82亿 | +3.2% |
| Deferred Tax Liabilities, Gross | $7.07亿2025-12-28 | $6.84亿 | +3.3% | $7.07亿 | $6.84亿 | +3.3% |
| Deferred Tax Liabilities, Leasing Arrangements | $3.07亿2025-12-28 | $3亿 | +2.3% | $3.07亿 | $3亿 | +2.3% |
| Deferred Tax Liabilities, Net | $2.88亿2025-12-28 | $2.63亿 | +9.2% | $2.88亿 | $2.63亿 | +9.2% |
| Deferred Tax Liabilities, Other | $4100万2025-12-28 | $4050万 | +1.4% | $4100万 | $4050万 | +1.4% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-28, 10-Q 2026-03-29, 10-K 2025-12-28, 10-Q 2025-09-28, 10-Q 2025-06-29, 10-Q 2025-03-30, 10-K 2024-12-29, 10-Q 2024-09-29, 10-Q 2024-06-30
数据截至 2026-11-02