For the year ending 2025-12-28, WEN had -$145,936K decrease in cash & cash equivalents over the period. $242,616K in free cash flow.
| Cash Flow | 2025-12-28 | 2024-12-29 | 2023-12-31 | 2023-01-01 |
|---|---|---|---|---|
| Net income | 165,075 | 194,357 | 204,440 | 177,370 |
| Depreciation and amortization (exclusive of amortization of cloud computing arrangements shown separately below) | 152,222 | 143,234 | 135,789 | 133,414 |
| Amortization of cloud computing arrangements | 18,647 | 14,701 | 12,778 | 2,394 |
| Share-based compensation | 14,573 | 23,019 | 23,747 | 24,538 |
| Impairment of long-lived assets | 12,095 | 9,713 | 1,401 | 6,420 |
| Deferred income tax | 23,461 | -5,529 | -807 | 4,305 |
| Non-cash rental expense, net | 45,454 | 41,904 | 40,655 | 33,915 |
| Change in operating lease liabilities | -49,230 | -48,911 | -47,212 | -45,682 |
| Net receipt (recognition) of deferred vendor incentives | 1,534 | -586 | 1,034 | -1,060 |
| System optimization gains, net | 1,030 | 1,219 | 880 | 6,779 |
| Gain on sale of investments, net | 0 | 0 | 31 | 0 |
| Distributions received from timwen joint venture | 14,779 | 14,408 | 12,901 | 12,612 |
| Equity in earnings in joint ventures, net | 11,215 | 11,607 | 10,819 | 9,422 |
| Long-term debt related activities, net (see note 20) | 8,123 | 7,479 | 5,320 | 7,762 |
| Cloud computing arrangements expenditures | 23,483 | 18,815 | 32,902 | 30,220 |
| Other, net | 25,093 | 14,542 | 22,883 | -4,554 |
| Accounts and notes receivable | 19,174 | 5,158 | -430 | 5,857 |
| Inventories | 473 | -138 | -439 | 1,203 |
| Prepaid expenses and other current assets | 1,345 | 1,795 | 672 | -6,769 |
| Advertising funds restricted assets and liabilities | -4,007 | -20,733 | -18,210 | -30,503 |
| Accounts payable | -8,927 | 1,026 | -8,826 | -1,533 |
| Accrued expenses and other current liabilities | -17,629 | 5,139 | 3,958 | -12,782 |
| Net cash provided by operating activities | 344,543 | 355,307 | 345,416 | 259,904 |
| Capital expenditures | 101,927 | 94,388 | 85,021 | 85,544 |
| Payments for investments | - | - | 0 | 0 |
| Franchise development fund | 38,410 | 41,246 | 7,951 | 3,605 |
| Acquisitions | 16,854 | - | 0 | 0 |
| Dispositions | 4,410 | 4,946 | 2,115 | 8,237 |
| Proceeds from sale of investments | 0 | 0 | -31 | 0 |
| Notes receivable, net | 1,949 | 1,383 | 4,280 | 3,136 |
| Net cash used in investing activities | -150,832 | -129,305 | -86,546 | -77,776 |
| Proceeds from long-term debt | 475,500 | 0 | 0 | 500,000 |
| Repayments of long-term debt | 453,993 | 29,250 | 94,702 | 26,750 |
| Repayments of finance lease liabilities | 24,546 | 20,404 | 21,588 | 17,312 |
| Deferred financing costs | 9,671 | 0 | 0 | 10,232 |
| Repurchases of common stock | 200,766 | 77,375 | 189,554 | 51,950 |
| Dividends | 129,587 | 204,443 | 209,253 | 106,779 |
| Proceeds from stock option exercises | 1,916 | 32,859 | 14,667 | 4,865 |
| Payments related to tax withholding for share-based compensation | 2,839 | 4,485 | 3,873 | 3,168 |
| Net cash used in financing activities | -343,986 | -303,098 | -504,303 | 288,674 |
| Net cash used in operations before effect of exchange rate changes on cash | -150,275 | -77,096 | -245,433 | 470,802 |
| Effect of exchange rate changes on cash | 4,339 | -8,112 | 2,448 | -5,967 |
| Net decrease in cash, cash equivalents and restricted cash | -145,936 | -85,208 | -242,985 | 464,835 |
| Cash, cash equivalents and restricted cash at beginning of period | 503,608 | - | - | - |
| Cash, cash equivalents and restricted cash at end of period | 357,672 | - | - | - |
Wendy's Co (WEN)
Wendy's Co (WEN)