Finance Assignment
kme1403
FINC300_05-20220912MCDvs.WENAnnotated_v2.xlsxMCD - Key Stats
| McDonald's Corporation (NYSE:MCD) > Financials > Key Stats | |||||||
| In Millions of the trading currency, except per share items. | Currency: | Trading Currency | Conversion: | Today's Spot Rate | |||
| Order: | Latest on Right | Units: | S&P Capital IQ (Default) | ||||
| Decimals: | Capital IQ (Default) | Dilution: | Basic | ||||
| Key Financials¹ | |||||||
| For the Fiscal Period Ending | 12 months Dec-31-2018A | 12 months Dec-31-2019A | 12 months Dec-31-2020A | 12 months Dec-31-2021A | 12 months† Dec-31-2022E | 12 months Dec-31-2023E | 12 months Dec-31-2024E |
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Total Revenue | 21,257.9 | 21,364.4 | 19,207.8 | 23,222.9 | 22,792.09 | 23,668.82 | 24,936.06 |
| Growth Over Prior Year | (6.8%) | 0.5% | (10.1%) | 20.9% | (1.86%) | 3.85% | 5.35% |
| Gross Profit | 10,832.6 | 11,179.4 | 9,752.1 | 12,580.2 | - | - | - |
| Margin % | 51.0% | 52.3% | 50.8% | 54.2% | 15.92% | 16.62% | 17.17% |
| EBITDA | 10,107.7 | 10,572.6 | 8,964.7 | 11,741.2 | 11,736.47 | 12,899.12 | 13,586.38 |
| Margin % | 47.5% | 49.5% | 46.7% | 50.6% | 51.49% | 54.50% | 54.48% |
| EBIT | 8,625.7 | 8,954.7 | 7,213.3 | 9,873.1 | 9,999.42 | 10,944.15 | 11,700.31 |
| Margin % | 40.6% | 41.9% | 37.6% | 42.5% | 43.87% | 46.24% | 46.92% |
| Earnings from Cont. Ops. | 5,924.3 | 6,025.4 | 4,730.5 | 7,545.2 | - | - | - |
| Margin % | 27.9% | 28.2% | 24.6% | 32.5% | - | - | - |
| Net Income | 5,924.3 | 6,025.4 | 4,730.5 | 7,545.2 | 7,272.71 | 7,662.78 | 8,145.66 |
| Margin % | 27.9% | 28.2% | 24.6% | 32.5% | 31.91% | 32.37% | 32.67% |
| Diluted EPS Excl. Extra Items³ | 7.54 | 7.88 | 6.31 | 10.04 | 9.84 | 10.59 | 11.52 |
| Growth Over Prior Year | 18.4% | 4.5% | (19.9%) | 59.1% | 6.07% | 7.59% | 8.78% |
| ¹All results are taken from the most recently filed statement for each period. When there has been more than one, earlier filings can be viewed on the individual statement pages. | |||||||
| ²Growth rates for the LTM period are calculated against the LTM period ending 12 months before. | |||||||
| ³All forward period figures are consensus mean estimates provided by the brokers and may not be on a comparable basis as financials. | |||||||
| †Growth rates for forward periods are calculated against prior period estimates or actual pro forma results as disclosed on the Estimates Consensus page. | |||||||
| Current Capitalization (Millions of USD) | |||||||
| Currency | USD | ||||||
| Share Price | $254.39 | ||||||
| Shares Out. | 735.7 | ||||||
| Market Capitalization | 187,159.1 | ||||||
| - Cash & Short Term Investments | 1,938.6 | ||||||
| + Total Debt | 47,646.4 | ||||||
| + Pref. Equity | - | ||||||
| + Total Minority Interest | - | ||||||
| - Long Term Marketable Securities | - | ||||||
| = Total Enterprise Value (TEV) | 232,866.9 | ||||||
| Book Value of Common Equity | (6,369.8) | ||||||
| + Pref. Equity | - | ||||||
| + Total Minority Interest | - | ||||||
| + Total Debt | 47,646.4 | ||||||
| = Total Capital | 41,276.6 | ||||||
| **For companies that have multiple share classes that publicly trade, we are incorporating the different prices to calculate our company level market capitalization. Please click on the value to see the detailed calculation. Prices shown on this page are the close price of the company’s primary stock class. Shares shown on this page are total company as-reported share values. | |||||||
| Note: Striped area represents the impact of negative Common Equity on Total Liability. | |||||||
| Total Liability includes Total Debt, Minority Interest and Pref. Equity. | |||||||
| Net Liability includes Total Liability, net of Cash and Short Term Investments. | |||||||
| TEV includes Market Cap and Net Liability. | |||||||
| Total Capital includes Common Equity and Total Liability. | |||||||
| Valuation Multiples based on Current Capitalization | |||||||
| For the Fiscal Period Ending | 12 months Dec-31-2021A | 12 months Dec-31-2022E | 12 months Dec-31-2023E | 12 months Dec-31-2024E | |||
| TEV/Total Revenue | 10.0x | 10.22x | 9.84x | 9.34x | |||
| TEV/EBITDA | 17.2x | 19.84x | 18.05x | 17.14x | |||
| TEV/EBIT | 23.1x | 23.29x | 21.28x | 19.90x | |||
| P/Diluted EPS Before Extra | 25.3x | 25.84x | 24.02x | 22.08x | |||
| P/BV | NM | - | - | - | |||
| Price/Tang BV | NM | - | - | - | |||
MCD - Balance Sheet
| McDonald's Corporation (NYSE:MCD) > Financials > Balance Sheet | ||||||||||||||
| In Millions of the reported currency, except per share items. | Template: | Standard | Restatement: | Latest Filings | ||||||||||
| Period Type: | Annual | Order: | Latest on Right | |||||||||||
| Currency: | Reported Currency | Conversion: | Today's Spot Rate | |||||||||||
| Units: | S&P Capital IQ (Default) | Decimals: | Capital IQ (Default) | |||||||||||
| Source: | Capital IQ & Proprietary Data | |||||||||||||
| Balance Sheet | ||||||||||||||
| Balance Sheet as of: | Dec-31-2017 | Dec-31-2018 | Dec-31-2019 | Dec-31-2020 | Dec-31-2021 | |||||||||
| Currency | USD | USD | USD | USD | USD | |||||||||
| ASSETS | Definition | 2017 | 2018 | 2019 | 2020 | 2021 | ||||||||
| Cash And Equivalents | 2,463.8 | 866.0 | 898.5 | 3,449.1 | 4,709.2 | Current Ratio | CA/CL | 1.8429391822 | 1.3631074491 | 0.9825738746 | 1.0100304148 | 1.7782338308 | =B29/B49 | |
| Trading Asset Securities | - | - | - | - | 0.3 | Quick Ratio | (CA - Inv) / CL | 1.82 | 1.35 | 0.97 | 1.00 | 1.76 | =(B29-B26)/B49 | |
| Total Cash & ST Investments | 2,463.8 | 866.0 | 898.5 | 3,449.1 | 4,709.5 | Cash Ratio | Cash & ST / CL | 0.8523489933 | 0.2912392803 | 0.2481358741 | 0.5579984469 | 1.1715174129 | =B20/B49 | |
| Accounts Receivable | 1,976.2 | 2,441.5 | 2,224.2 | 2,110.3 | 1,872.4 | Story: Was bad in 2019 and 2020, but much better in 2021 | ||||||||
| Other Receivables | 30.8 | 12.5 | 138.8 | 325.0 | 332.0 | |||||||||
| Total Receivables | 2,007.0 | 2,454.0 | 2,363.0 | 2,435.3 | 2,204.4 | 1. Textbook Definition: Debt = Liabilities | ||||||||
| Definition | 2017 | 2018 | 2019 | 2020 | 2021 | |||||||||
| Inventory | 58.8 | 51.1 | 50.2 | 51.1 | 55.6 | Debt Ratio | D/A | 1.0966758077 | 1.1907397474 | 1.1728091297 | 1.1486866007 | 1.0854342179 | =J29/B40 | |
| Prepaid Exp. | 797.1 | 479.6 | 222.2 | 122.1 | 126.6 | Debt to Equity | D/E | -11.3438494492 | -6.2427457497 | -6.7867313009 | -7.7255555982 | -12.7049119757 | =J29/B65 | |
| Other Current Assets | 0.5 | 202.5 | 24.0 | 185.6 | 52.4 | Equity Multiplier | A/E | -10.3438494492 | -5.2427457497 | -5.7867313009 | -6.7255555982 | -11.7049119757 | =B40/B65 | |
| Total Current Assets | 5,327.2 | 4,053.2 | 3,557.9 | 6,243.2 | 7,148.5 | Debt | Liabilities | 37,071.7 | 39,069.6 | 55,721.1 | 60,451.7 | 58,455.3 | =B56 | |
| Gross Property, Plant & Equipment | 36,626.4 | 37,193.6 | 52,312.1 | 55,304.2 | 55,468.6 | |||||||||
| Accumulated Depreciation | (14,178.1) | (14,350.9) | (14,890.9) | (16,518.3) | (17,196.0) | This is terrible for McDonalds, because it has more debt than the value of the firm itself | ||||||||
| Net Property, Plant & Equipment | 22,448.3 | 22,842.7 | 37,421.2 | 38,785.9 | 38,272.6 | For D/E, these values are negative since book value of equity is negative. | ||||||||
| We don't want book value of equity to be negative, so same story as in total debt ratio | ||||||||||||||
| Long-term Investments | 1,085.7 | 1,202.8 | 1,282.4 | 1,333.0 | 1,209.8 | |||||||||
| Goodwill | 2,379.7 | 2,331.5 | 2,677.4 | 2,773.1 | 2,782.5 | Note: Using textbook definition for debt, we find that Equity multiplier (row 28) = D/E (row 27) + 1 | ||||||||
| Other Intangibles | - | - | 665.4 | 691.2 | 795.0 | |||||||||
| Deferred Tax Assets, LT | 867.9 | 1,219.4 | 1,138.9 | 2,135.7 | 2,357.0 | |||||||||
| Other Long-Term Assets | 1,694.9 | 1,161.6 | 767.6 | 664.7 | 1,288.9 | 2. Wall Street Definition: Debt = Debt + Leases | ||||||||
| Total Assets | 33,803.7 | 32,811.2 | 47,510.8 | 52,626.8 | 53,854.3 | |||||||||
| Definition | 2017 | 2018 | 2019 | 2020 | 2021 | |||||||||
| LIABILITIES | Debt Ratio | D/A | 0.8739457515 | 0.9474569659 | 1.0009513626 | 0.9778895924 | 0.9164207872 | =J45/B40 | ||||||
| Accounts Payable | 924.8 | 1,207.9 | 988.2 | 741.3 | 1,006.8 | Debt to Equity | D/E | -9.0399632803 | -4.9672759811 | -5.7922365809 | -6.5768508224 | -10.7266246468 | =J45/B65 | |
| Accrued Exp. | 1,661.9 | 1,533.8 | 1,610.9 | 1,671.2 | 1,943.7 | Equity Multiplier | A/E | -10.3438494492 | -5.2427457497 | -5.7867313009 | -6.7255555982 | -11.7049119757 | =B40/B65 | |
| Curr. Port. of LT Debt | 0.3 | 0.1 | 59.1 | 2,243.6 | 0 | Debt | Debt + Leases | 29,542.60 | 31,087.20 | 47,556.00 | 51,463.20 | 49,353.20 | =B45+B46+B51+B52 | |
| Curr. Port. of Leases | 0 | 0 | 621.0 | 701.5 | 705.5 | |||||||||
| Curr. Income Taxes Payable | 265.8 | 228.3 | 331.7 | 741.1 | 360.7 | Story: Same story as above, a lot of debt relative to the amount of assets the firm has | ||||||||
| Other Current Liabilities | 37.8 | 3.4 | 10.1 | 82.5 | 3.3 | |||||||||
| Total Current Liabilities | 2,890.6 | 2,973.5 | 3,621.0 | 6,181.2 | 4,020.0 | Note: Using this definition of debt, Equity multiplier no longer equals D/E + 1 | ||||||||
| Long-Term Debt | 29,542.3 | 31,087.1 | 34,118.1 | 35,196.8 | 35,626.8 | |||||||||
| Long-Term Leases | 0 | 0 | 12,757.8 | 13,321.3 | 13,020.9 | Coverage Ratios | ||||||||
| Unearned Revenue, Non-Current | - | 627.8 | 660.6 | 702.0 | 738.3 | Definition | 2017 | 2018 | 2019 | 2020 | 2021 | |||
| Def. Tax Liability, Non-Curr. | 1,119.4 | 1,215.5 | 1,318.1 | 2,025.6 | 2,075.6 | Times Interest Earned | EBIT/Interest exp | 9.1789347041 | 8.8269545641 | 8.2539404553 | 6.0105824515 | 8.38978586 | ='MCD - Income Statement'!B86/-'MCD - Income Statement'!B36 | |
| Other Non-Current Liabilities | 3,519.4 | 3,165.7 | 3,245.5 | 3,024.8 | 2,973.7 | Cash Coverage | EBITDA/Interest exp | 10.6701301542 | 10.343532542 | 9.7452299751 | 7.4699608366 | 9.9772263766 | ='MCD - Income Statement'!B84/-'MCD - Income Statement'!B36 | |
| Total Liabilities | 37,071.7 | 39,069.6 | 55,721.1 | 60,451.7 | 58,455.3 | |||||||||
| Story: MCD still has a healthy profit to pay off its interest expenses, but that cushion has been reduced a bit from 2017 to 2021 | ||||||||||||||
| Common Stock | 16.6 | 16.6 | 16.6 | 16.6 | 16.6 | |||||||||
| Additional Paid In Capital | 7,072.4 | 7,376.0 | 7,653.9 | 7,903.6 | 8,231.6 | |||||||||
| Retained Earnings | 48,325.8 | 50,487.0 | 52,930.5 | 53,908.1 | 57,534.7 | Definition | 2017 | 2018 | 2019 | 2020 | 2021 | |||
| Treasury Stock | (56,504.4) | (61,528.5) | (66,328.6) | (67,066.4) | (67,810.2) | Asset Turnover | Sales/Assets | 0.6750858634 | 0.6478854781 | 0.4496746003 | 0.3649813403 | 0.4312171916 | ='MCD - Income Statement'!B20/'MCD - Balance Sheet'!B40 | |
| Comprehensive Inc. and Other | (2,178.4) | (2,609.5) | (2,482.7) | (2,586.8) | (2,573.7) | |||||||||
| Total Common Equity | (3,268.0) | (6,258.4) | (8,210.3) | (7,824.9) | (4,601.0) | Story: MCD has been using its assets more efficiently in 2017 than in 2021 | ||||||||
| Total Equity | (3,268.0) | (6,258.4) | (8,210.3) | (7,824.9) | (4,601.0) | Definition | 2017 | 2018 | 2019 | 2020 | 2021 | |||
| Net Profit Margin | Net Income/Sales | 0.2275288777 | 0.2786869823 | 0.2820299189 | 0.246280157 | 0.3249034358 | ='MCD - Income Statement'!B59/'MCD - Income Statement'!B20 | |||||||
| Total Liabilities And Equity | 33,803.7 | 32,811.2 | 47,510.8 | 52,626.8 | 53,854.3 | ROA | Net Income/Assets | 0.1536015288 | 0.1805572487 | 0.1268216911 | 0.0898876618 | 0.1401039471 | ='MCD - Income Statement'!B59/'MCD - Balance Sheet'!B40 | |
| ROE | Net Income/Equity | -1.5888310894 | -0.9466157484 | -0.7338830493 | -0.604544467 | -1.6399043686 | ='MCD - Income Statement'!B59/'MCD - Balance Sheet'!B65 | |||||||
| Supplemental Items | ||||||||||||||
| Total Shares Out. on Filing Date | 794.5 | 765.3 | 745.4 | 745.6 | 743.6 | Story: For $1 of sales, it made 23 cents in profit back in 2017, that number jumped to 32.5 cents in 2021 | ||||||||
| Total Shares Out. on Balance Sheet Date | 794.1 | 767.1 | 746.3 | 745.4 | 744.8 | ROA Story: An average investor made 15% return on the books in 2017, that number struggled to 9 percent in 2020, but recovered back to 14% in 2021 | ||||||||
| Book Value/Share | ($4.12) | ($8.16) | ($11.0) | ($10.5) | ($6.18) | |||||||||
| Tangible Book Value | (5,647.7) | (8,589.9) | (11,553.1) | (11,289.2) | (8,178.5) | ROE: Gives us the misconception that shareholders are losing money, but that's not the case. | ||||||||
| Tangible Book Value/Share | ($7.11) | ($11.2) | ($15.48) | ($15.15) | ($10.98) | Has positive earnings (numerator is positive), and negative book value of equity (denominator is negative) | ||||||||
| Total Debt | 29,542.6 | 31,087.2 | 47,556.0 | 51,463.2 | 49,353.2 | |||||||||
| Net Debt | 27,078.8 | 30,221.2 | 46,657.5 | 48,014.1 | 44,643.7 | Usually denote the ROE as "NM" - Not meaningful in these scenarios | ||||||||
| Debt Equivalent Oper. Leases | 13,156.0 | 12,174.4 | 12,854.4 | 11,834.4 | 12,482.4 | |||||||||
| Equity Method Investments | 1,085.7 | 1,202.8 | 1,270.3 | 1,297.2 | 1,201.2 | |||||||||
| Inventory Method | NA | NA | NA | NA | NA | |||||||||
| Land | 5,662.2 | 5,521.4 | 6,026.4 | 6,349.1 | 6,487.6 | |||||||||
| Buildings | 27,286.1 | 28,241.0 | 29,609.6 | 31,583.4 | 31,949.3 | |||||||||
| Machinery | 3,165.7 | 2,942.6 | 2,994.5 | 3,119.0 | 3,032.0 | |||||||||
| Full Time Employees | 235,000 | 210,000 | 205,000 | 200,000 | 100,000 | |||||||||
| Filing Date | Feb-26-2020 | Feb-23-2021 | Feb-24-2022 | Feb-24-2022 | Feb-24-2022 | |||||||||
| Restatement Type | NC | NC | NC | NC | O | |||||||||
| Calculation Type | RUP | RUP | RUP | REP | REP | |||||||||
| Note: For multiple class companies, total share counts are primary class equivalent, and for foreign companies listed as primary ADRs, total share counts are ADR-equivalent. | ||||||||||||||
MCD - Income Statement
| McDonald's Corporation (NYSE:MCD) > Financials > Income Statement | |||||
| In Millions of the reported currency, except per share items. | Template: | Standard | Restatement: | Latest Filings | |
| Period Type: | Annual | Order: | Latest on Right | ||
| Currency: | Reported Currency | Conversion: | Today's Spot Rate | ||
| Units: | S&P Capital IQ (Default) | Decimals: | Capital IQ (Default) | ||
| Source: | Capital IQ & Proprietary Data | ||||
| Income Statement | |||||
| For the Fiscal Period Ending | 12 months Dec-31-2017 | Reclassified 12 months Dec-31-2018 | Reclassified 12 months Dec-31-2019 | Reclassified 12 months Dec-31-2020 | 12 months Dec-31-2021 |
| Currency | USD | USD | USD | USD | USD |
| Revenue | 22,820.4 | 21,025.2 | 21,076.5 | 18,865.3 | 22,872.8 |
| Other Revenue | - | 232.7 | 287.9 | 342.5 | 350.1 |
| Total Revenue | 22,820.4 | 21,257.9 | 21,364.4 | 19,207.8 | 23,222.9 |
| Cost Of Goods Sold | 12,199.6 | 10,425.3 | 10,185.0 | 9,455.7 | 10,642.7 |
| Gross Profit | 10,620.8 | 10,832.6 | 11,179.4 | 9,752.1 | 12,580.2 |
| Selling General & Admin Exp. | 2,231.3 | 1,985.4 | 1,966.9 | 2,245.0 | 2,377.8 |
| R & D Exp. | - | - | - | - | - |
| Depreciation & Amort. | - | 214.8 | 262.5 | 300.6 | 329.7 |
| Other Operating Expense/(Income) | (2.8) | 6.7 | (4.7) | (6.8) | (0.4) |
| Other Operating Exp., Total | 2,228.5 | 2,206.9 | 2,224.7 | 2,538.8 | 2,707.1 |
| Operating Income | 8,392.3 | 8,625.7 | 8,954.7 | 7,213.3 | 9,873.1 |
| Interest Expense | (921.3) | (981.2) | (1,121.9) | (1,218.1) | (1,185.8) |
| Interest and Invest. Income | 7.0 | 4.0 | 37.0 | 18.0 | 9.0 |
| Net Interest Exp. | (914.3) | (977.2) | (1,084.9) | (1,200.1) | (1,176.8) |
| Income/(Loss) from Affiliates | 183.7 | 151.5 | 153.8 | 117.4 | 176.7 |
| Currency Exchange Gains (Loss) | (26.0) | (5.0) | 48.0 | 3.0 | (37.0) |
| Other Non-Operating Inc. (Exp.) | (38.9) | (24.3) | (14.8) | 13.8 | (14.3) |
| EBT Excl. Unusual Items | 7,596.8 | 7,770.7 | 8,056.8 | 6,147.4 | 8,821.7 |
| Restructuring Charges | (150.0) | (85.0) | - | - | - |
| Impairment of Goodwill | - | - | - | - | - |
| Gain (Loss) On Sale Of Invest. | - | - | (99.0) | 274.0 | 339.0 |
| Gain (Loss) On Sale Of Assets | 1,126.7 | 270.4 | 60.3 | (254.4) | (32.8) |
| Asset Writedown | - | (140.0) | - | (26.3) | - |
| Other Unusual Items | - | - | - | - | - |
| EBT Incl. Unusual Items | 8,573.5 | 7,816.1 | 8,018.1 | 6,140.7 | 9,127.9 |
| Income Tax Expense | 3,381.2 | 1,891.8 | 1,992.7 | 1,410.2 | 1,582.7 |
| Earnings from Cont. Ops. | 5,192.3 | 5,924.3 | 6,025.4 | 4,730.5 | 7,545.2 |
| Earnings of Discontinued Ops. | - | - | - | - | - |
| Extraord. Item & Account. Change | - | - | - | - | - |
| Net Income to Company | 5,192.3 | 5,924.3 | 6,025.4 | 4,730.5 | 7,545.2 |
| Minority Int. in Earnings | - | - | - | - | - |
| Net Income | 5,192.3 | 5,924.3 | 6,025.4 | 4,730.5 | 7,545.2 |
| Pref. Dividends and Other Adj. | - | - | - | - | - |
| NI to Common Incl Extra Items | 5,192.3 | 5,924.3 | 6,025.4 | 4,730.5 | 7,545.2 |
| NI to Common Excl. Extra Items | 5,192.3 | 5,924.3 | 6,025.4 | 4,730.5 | 7,545.2 |
| Per Share Items | |||||
| Basic EPS | $6.43 | $7.61 | $7.95 | $6.35 | $10.11 |
| Basic EPS Excl. Extra Items | 6.43 | 7.61 | 7.95 | 6.35 | 10.11 |
| Weighted Avg. Basic Shares Out. | 807.4 | 778.2 | 758.1 | 744.6 | 746.3 |
| Diluted EPS | $6.37 | $7.54 | $7.88 | $6.31 | $10.04 |
| Diluted EPS Excl. Extra Items | 6.37 | 7.54 | 7.88 | 6.31 | 10.04 |
| Weighted Avg. Diluted Shares Out. | 815.5 | 785.6 | 764.9 | 750.1 | 751.8 |
| Normalized Basic EPS | $5.88 | $6.24 | $6.64 | $5.16 | $7.39 |
| Normalized Diluted EPS | 5.82 | 6.18 | 6.58 | 5.12 | 7.33 |
| Dividends per Share | $3.83 | $4.19 | $4.73 | $5.04 | $5.25 |
| Payout Ratio % | 59.5% | 55.0% | 59.4% | 79.3% | 51.9% |
| Shares per Depository Receipt | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Supplemental Items | |||||
| EBITDA | 9,755.7 | 10,107.7 | 10,572.6 | 8,964.7 | 11,741.2 |
| EBITA | 8,392.3 | 8,625.7 | 8,954.7 | 7,213.3 | 9,873.1 |
| EBIT | 8,392.3 | 8,625.7 | 8,954.7 | 7,213.3 | 9,873.1 |
| EBITDAR | 11,400.2 | 11,629.5 | 12,179.4 | 10,444.0 | 13,301.5 |
| As Reported Total Revenue* | 22,820.4 | 21,257.9 | 21,364.4 | 19,207.8 | 23,222.9 |
| Effective Tax Rate % | 39.4% | 24.2% | 24.9% | 23.0% | 17.3% |
| Current Domestic Taxes | 2,200.6 | 476.8 | 716.5 | 673.2 | 1,115.7 |
| Current Foreign Taxes | 1,217.0 | 1,312.4 | 1,126.5 | 730.6 | 895.3 |
| Total Current Taxes | 3,417.6 | 1,789.2 | 1,843.0 | 1,403.8 | 2,011.0 |
| Deferred Domestic Taxes | (107.3) | 164.4 | 58.5 | 943.6 | (201.5) |
| Deferred Foreign Taxes | 70.9 | (61.8) | 91.2 | (937.2) | (226.8) |
| Total Deferred Taxes | (36.4) | 102.6 | 149.7 | 6.4 | (428.3) |
| Normalized Net Income | 4,748.0 | 4,856.7 | 5,035.5 | 3,842.1 | 5,513.6 |
| Interest Capitalized | 5.3 | 5.6 | 7.4 | 6.0 | 6.8 |
| Filing Date | Feb-26-2020 | Feb-23-2021 | Feb-24-2022 | Feb-24-2022 | Feb-24-2022 |
| Restatement Type | NC | RC | RC | RC | O |
| Calculation Type | REP | REP | REP | REP | REP |
| Supplemental Operating Expense Items | |||||
| Advertising Exp. | 532.9 | 388.8 | 365.8 | 325.5 | 377.6 |
| Marketing Exp. | 100.2 | 88.0 | NA | NA | NA |
| Selling and Marketing Exp. | 100.2 | 88.0 | NA | NA | NA |
| Net Rental Exp. | 1,644.5 | 1,521.8 | 1,606.8 | 1,479.3 | 1,560.3 |
| Imputed Oper. Lease Interest Exp. | 439.3 | 396.3 | 369.2 | 292.6 | 295.3 |
| Imputed Oper. Lease Depreciation | 1,205.2 | 1,125.5 | 1,237.6 | 1,186.7 | 1,265.0 |
| Stock-Based Comp., SG&A Exp. | 117.5 | 125.1 | 109.6 | 92.4 | 139.2 |
| Stock-Based Comp., Unallocated | - | - | - | - | - |
| Stock-Based Comp., Total | 117.5 | 125.1 | 109.6 | 92.4 | 139.2 |
| * Occasionally, certain items classified as Revenue by the company will be re-classified as other income if it is deemed to be non-recurring and unrelated to the core business of the firm. This field shows Total Revenue exactly as reported by the firm on its consolidated statement of income. | |||||
| Note: For multiple class companies, per share items are primary class equivalent, and for foreign companies listed as primary ADRs, per share items are ADR-equivalent. | |||||
MCD - Cash Flow
| McDonald's Corporation (NYSE:MCD) > Financials > Cash Flow | |||||
| In Millions of the reported currency, except per share items. | Template: | Standard | Restatement: | Latest Filings | |
| Period Type: | Annual | Order: | Latest on Right | ||
| Currency: | Reported Currency | Conversion: | Today's Spot Rate | ||
| Units: | S&P Capital IQ (Default) | Decimals: | Capital IQ (Default) | ||
| Source: | Capital IQ & Proprietary Data | ||||
| Cash Flow | |||||
| For the Fiscal Period Ending | 12 months Dec-31-2017 | 12 months Dec-31-2018 | 12 months Dec-31-2019 | 12 months Dec-31-2020 | 12 months Dec-31-2021 |
| Currency | USD | USD | USD | USD | USD |
| Net Income | 5,192.3 | 5,924.3 | 6,025.4 | 4,730.5 | 7,545.2 |
| Depreciation & Amort. | 1,363.4 | 1,482.0 | 1,617.9 | 1,751.4 | 1,868.1 |
| Depreciation & Amort., Total | 1,363.4 | 1,482.0 | 1,617.9 | 1,751.4 | 1,868.1 |
| (Gain) Loss From Sale Of Assets | (1,155.8) | (308.8) | (128.2) | (28.2) | (97.8) |
| Stock-Based Compensation | 117.5 | 125.1 | 109.6 | 92.4 | 139.2 |
| Other Operating Activities | 1,014.3 | 216.8 | 198.9 | (68.8) | (767.4) |
| Change in Acc. Receivable | (340.7) | (479.4) | 27.0 | (6.8) | 309.9 |
| Change In Inventories | (37.3) | (1.9) | 128.8 | (68.6) | (62.2) |
| Change in Acc. Payable | (59.7) | 129.4 | (26.8) | (137.5) | 225.0 |
| Change in Inc. Taxes | (396.4) | (33.4) | 173.4 | (43.6) | (302.5) |
| Change in Other Net Operating Assets | (146.4) | (87.4) | (3.9) | 44.4 | 284.0 |
| Cash from Ops. | 5,551.2 | 6,966.7 | 8,122.1 | 6,265.2 | 9,141.5 |
| Capital Expenditure | (1,853.7) | (2,741.7) | (2,393.7) | (1,640.8) | (2,040.0) |
| Sale of Property, Plant, and Equipment | 166.8 | 160.4 | 151.2 | 27.4 | 106.2 |
| Cash Acquisitions | (77.0) | (101.7) | (540.9) | (66.1) | (374.2) |
| Divestitures | 2,571.8 | 530.8 | 340.8 | 76.3 | 196.2 |
| Invest. in Marketable & Equity Securt. | - | - | - | - | - |
| Net (Inc.) Dec. in Loans Originated/Sold | - | - | - | - | - |
| Other Investing Activities | (245.9) | (302.9) | (628.5) | 57.4 | (53.9) |
| Cash from Investing | 562.0 | (2,455.1) | (3,071.1) | (1,545.8) | (2,165.7) |
| Short Term Debt Issued | - | 95.9 | 799.2 | - | 15.1 |
| Long-Term Debt Issued | 4,727.5 | 3,794.5 | 4,499.0 | 5,543.0 | 1,154.4 |
| Total Debt Issued | 4,727.5 | 3,890.4 | 5,298.2 | 5,543.0 | 1,169.5 |
| Short Term Debt Repaid | (1,050.3) | - | - | (893.1) | - |
| Long-Term Debt Repaid | (1,649.4) | (1,759.6) | (2,061.9) | (2,411.7) | (2,240.0) |
| Total Debt Repaid | (2,699.7) | (1,759.6) | (2,061.9) | (3,304.8) | (2,240.0) |
| Issuance of Common Stock | 456.8 | 403.2 | 350.5 | 295.5 | 285.7 |
| Repurchase of Common Stock | (4,685.7) | (5,207.7) | (4,976.2) | (907.8) | (845.5) |
| Common Dividends Paid | (3,089.2) | (3,255.9) | (3,581.9) | (3,752.9) | (3,918.6) |
| Total Dividends Paid | (3,089.2) | (3,255.9) | (3,581.9) | (3,752.9) | (3,918.6) |
| Special Dividend Paid | - | - | - | - | - |
| Other Financing Activities | (20.5) | (20.0) | (23.5) | (122.0) | (46.7) |
| Cash from Financing | (5,310.8) | (5,949.6) | (4,994.8) | (2,249.0) | (5,595.6) |
| Foreign Exchange Rate Adj. | 264.0 | (159.8) | (23.7) | 80.2 | (120.1) |
| Misc. Cash Flow Adj. | 174.0 | - | - | - | - |
| Net Change in Cash | 1,240.4 | (1,597.8) | 32.5 | 2,550.6 | 1,260.1 |
| Supplemental Items | |||||
| Cash Interest Paid | 885.2 | 959.6 | 1,066.5 | 1,136.0 | 1,197.3 |
| Cash Taxes Paid | 2,786.3 | 1,734.4 | 1,589.7 | 1,441.9 | 2,403.9 |
| Levered Free Cash Flow | 4,556.6 | 3,402.5 | 4,724.6 | 4,110.5 | 5,830.4 |
| Unlevered Free Cash Flow | 5,132.4 | 4,015.8 | 5,425.8 | 4,871.8 | 6,571.5 |
| Change in Net Working Capital | (260.0) | 240.7 | (495.3) | (160.5) | (433.5) |
| Net Debt Issued | 2,027.8 | 2,130.8 | 3,236.3 | 2,238.2 | (1,070.5) |
| Filing Date | Feb-26-2020 | Feb-23-2021 | Feb-24-2022 | Feb-24-2022 | Feb-24-2022 |
| Restatement Type | NC | NC | NC | NC | O |
| Calculation Type | REP | REP | REP | REP | REP |
WEN - Key Stats
| The Wendy's Company (NasdaqGS:WEN) > Financials > Key Stats | |||||||
| In Millions of the trading currency, except per share items. | Currency: | Trading Currency | Conversion: | ||||
| Order: | Latest on Right | Units: | |||||
| Decimals: | Capital IQ (Default) | Dilution: | |||||
| Key Financials¹ | |||||||
| For the Fiscal Period Ending | 12 months Dec-30-2018A | 12 months Dec-29-2019A | 12 months Jan-03-2021A | 12 months Jan-02-2022A | 12 months† Dec-31-2022E | 12 months Dec-31-2023E | 12 months Dec-31-2024E |
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Total Revenue | 1,263.9 | 1,369.5 | 1,400.2 | 1,507.5 | 2,082.87 | 2,178.73 | 2,278.85 |
| Growth Over Prior Year | 3.3% | 8.4% | 2.2% | 7.7% | 9.80% | 4.60% | 4.60% |
| Gross Profit | 599.0 | 604.4 | 633.2 | 720.5 | - | - | - |
| Margin % | 47.4% | 44.1% | 45.2% | 47.8% | 14.48% | 15.43% | 15.30% |
| EBITDA | 411.6 | 408.3 | 416.9 | 458.6 | 494.92 | 534.21 | 562.29 |
| Margin % | 32.6% | 29.8% | 29.8% | 30.4% | 23.76% | 24.52% | 24.67% |
| EBIT | 282.7 | 276.6 | 284.1 | 333.0 | 357.65 | 396.2 | 420.02 |
| Margin % | 22.4% | 20.2% | 20.3% | 22.1% | 17.17% | 18.18% | 18.43% |
| Earnings from Cont. Ops. | 460.1 | 136.9 | 117.8 | 200.4 | - | - | - |
| Margin % | 36.4% | 10.0% | 8.4% | 13.3% | - | - | - |
| Net Income | 460.1 | 136.9 | 117.8 | 200.4 | 181.24 | 208.35 | 227.48 |
| Margin % | 36.4% | 10.0% | 8.4% | 13.3% | 8.70% | 9.56% | 9.98% |
| Diluted EPS Excl. Extra Items³ | 1.88 | 0.58 | 0.52 | 0.89 | 0.84 | 1.0 | 1.13 |
| Growth Over Prior Year | 144.2% | (69.1%) | (10.3%) | 71.2% | 3.01% | 17.87% | 13.05% |
| ¹All results are taken from the most recently filed statement for each period. When there has been more than one, earlier filings can be viewed on the individual statement pages. | |||||||
| ²Growth rates for the LTM period are calculated against the LTM period ending 12 months before. | |||||||
| ³All forward period figures are consensus mean estimates provided by the brokers and may not be on a comparable basis as financials. | |||||||
| †Growth rates for forward periods are calculated against prior period estimates or actual pro forma results as disclosed on the Estimates Consensus page. | |||||||
| Current Capitalization (Millions of USD) | |||||||
| Currency | USD | ||||||
| Share Price | $19.01 | ||||||
| Shares Out. | 212.8 | ||||||
| Market Capitalization | 4,045.4 | ||||||
| - Cash & Short Term Investments | 700.8 | ||||||
| + Total Debt | 4,317.6 | ||||||
| + Pref. Equity | - | ||||||
| + Total Minority Interest | - | ||||||
| - Long Term Marketable Securities | - | ||||||
| = Total Enterprise Value (TEV) | 7,662.2 | ||||||
| Book Value of Common Equity | 422.9 | ||||||
| + Pref. Equity | - | ||||||
| + Total Minority Interest | - | ||||||
| + Total Debt | 4,317.6 | ||||||
| = Total Capital | 4,740.5 | ||||||
| **For companies that have multiple share classes that publicly trade, we are incorporating the different prices to calculate our company level market capitalization. Please click on the value to see the detailed calculation. Prices shown on this page are the close price of the company’s primary stock class. Shares shown on this page are total company as-reported share values. | |||||||
| Total Liability includes Total Debt, Minority Interest and Pref. Equity. | |||||||
| Net Liability includes Total Liability, net of Cash and Short Term Investments. | |||||||
| TEV includes Market Cap and Net Liability. | |||||||
| Total Capital includes Common Equity and Total Liability. | |||||||
| Valuation Multiples based on Current Capitalization | |||||||
| For the Fiscal Period Ending | 12 months Jan-02-2022A | 12 months Dec-31-2022E | 12 months Dec-31-2023E | ||||
| TEV/Total Revenue | 5.1x | 3.68x | 3.52x | ||||
| TEV/EBITDA | 15.4x | 15.48x | 14.34x | ||||
| TEV/EBIT | 22.2x | 21.42x | 19.34x | ||||
| P/Diluted EPS Before Extra | 21.4x | 22.51x | 19.09x | ||||
| P/BV | 9.4x | 9.26x | 11.61x | ||||
| Price/Tang BV | NM | - | - | ||||
WEN - Balance Sheet
| The Wendy's Company (NasdaqGS:WEN) > Financials > Balance Sheet | |||||
| In Millions of the reported currency, except per share items. | Template: | Standard | Restatement: | Latest Filings | |
| Period Type: | Annual | Order: | Latest on Right | ||
| Currency: | Reported Currency | Conversion: | Today's Spot Rate | ||
| Units: | S&P Capital IQ (Default) | Decimals: | Capital IQ (Default) | ||
| Source: | Capital IQ & Proprietary Data | ||||
| Balance Sheet | |||||
| Balance Sheet as of: | Dec-31-2017 | Dec-30-2018 | Dec-29-2019 | Jan-03-2021 | Jan-02-2022 |
| Currency | USD | USD | USD | USD | USD |
| ASSETS | |||||
| Cash And Equivalents | 171.4 | 431.4 | 300.2 | 307.0 | 249.4 |
| Total Cash & ST Investments | 171.4 | 431.4 | 300.2 | 307.0 | 249.4 |
| Accounts Receivable | 77.0 | 105.8 | 133.0 | 167.7 | 173.1 |
| Other Receivables | 37.4 | 51.3 | 38.9 | 5.4 | 11.9 |
| Total Receivables | 114.4 | 157.1 | 171.9 | 173.1 | 185.0 |
| Inventory | 3.2 | 3.7 | 3.9 | 4.7 | 5.9 |
| Prepaid Exp. | 17.9 | 12.0 | 14.1 | 24.2 | 27.0 |
| Restricted Cash | 32.6 | 55.1 | 58.5 | 111.3 | 117.5 |
| Other Current Assets | 64.8 | 6.4 | 5.4 | 67.3 | 7.9 |
| Total Current Assets | 404.4 | 665.7 | 554.0 | 687.6 | 592.8 |
| Gross Property, Plant & Equipment | 1,752.7 | 1,744.4 | 2,668.8 | 2,624.5 | 2,700.7 |
| Accumulated Depreciation | (489.7) | (531.2) | (634.4) | (681.0) | (736.9) |
| Net Property, Plant & Equipment | 1,263.1 | 1,213.2 | 2,034.3 | 1,943.5 | 1,963.8 |
| Long-term Investments | 56.0 | 47.7 | 45.9 | 44.6 | 49.9 |
| Goodwill | 743.3 | 747.9 | 755.9 | 751.0 | 775.3 |
| Other Intangibles | 1,321.6 | 1,294.2 | 1,247.2 | 1,225.0 | 1,280.8 |
| Accounts Receivable Long-Term | 246.7 | 240.8 | 258.2 | 274.4 | 303.9 |
| Other Long-Term Assets | 61.9 | 82.6 | 98.8 | 113.9 | 134.9 |
| Total Assets | 4,096.9 | 4,292.0 | 4,994.5 | 5,040.0 | 5,101.4 |
| LIABILITIES | |||||
| Accounts Payable | 22.8 | 21.7 | 22.7 | 31.1 | 41.2 |
| Accrued Exp. | 49.5 | 37.6 | 56.0 | 44.3 | 63.8 |
| Curr. Port. of LT Debt | 30.2 | 23.3 | 22.8 | 29.0 | 24.3 |
| Curr. Port. of Leases | - | 8.4 | 54.8 | 57.5 | 62.8 |
| Curr. Income Taxes Payable | 19.9 | 20.8 | 23.9 | 27.2 | 28.1 |
| Unearned Revenue, Current | - | - | - | - | - |
| Other Current Liabilities | 104.8 | 172.3 | 169.5 | 224.4 | 206.7 |
| Total Current Liabilities | 227.2 | 284.2 | 349.7 | 413.3 | 426.9 |
| Long-Term Debt | 2,724.2 | 2,305.6 | 2,257.6 | 2,218.2 | 2,356.4 |
| Long-Term Leases | - | 447.2 | 1,378.6 | 1,371.4 | 1,412.9 |
| Unearned Revenue, Non-Current | 10.9 | 92.2 | 91.8 | 89.1 | 88.1 |
| Def. Tax Liability, Non-Curr. | 299.1 | 269.2 | 270.8 | 280.8 | 267.7 |
| Other Non-Current Liabilities | 262.4 | 245.2 | 129.8 | 117.7 | 112.9 |
| Total Liabilities | 3,523.7 | 3,643.6 | 4,478.2 | 4,490.4 | 4,665.0 |
| Common Stock | 47.0 | 47.0 | 47.0 | 47.0 | 47.0 |
| Additional Paid In Capital | 2,886.0 | 2,884.7 | 2,874.0 | 2,899.3 | 2,898.6 |
| Retained Earnings | (163.3) | 146.3 | 185.7 | 238.7 | 344.2 |
| Treasury Stock | (2,150.3) | (2,367.9) | (2,536.6) | (2,585.8) | (2,805.3) |
| Comprehensive Inc. and Other | (46.2) | (61.7) | (53.8) | (49.6) | (48.2) |
| Total Common Equity | 573.2 | 648.4 | 516.4 | 549.6 | 436.4 |
| Total Equity | 573.2 | 648.4 | 516.4 | 549.6 | 436.4 |
| Total Liabilities And Equity | 4,096.9 | 4,292.0 | 4,994.5 | 5,040.0 | 5,101.4 |
| Supplemental Items | |||||
| Total Shares Out. on Filing Date | 239.4 | 230.2 | 223.0 | 223.8 | 215.2 |
| Total Shares Out. on Balance Sheet Date | 240.5 | 231.2 | 224.9 | 224.3 | 215.8 |
| Book Value/Share | $2.38 | $2.8 | $2.3 | $2.45 | $2.02 |
| Tangible Book Value | (1,491.7) | (1,393.6) | (1,486.8) | (1,426.4) | (1,619.7) |
| Tangible Book Value/Share | ($6.2) | ($6.03) | ($6.61) | ($6.36) | ($7.5) |
| Total Debt | 2,754.4 | 2,784.4 | 3,713.7 | 3,676.0 | 3,856.4 |
| Net Debt | 2,583.0 | 2,353.0 | 3,413.5 | 3,369.0 | 3,607.0 |
| Debt Equiv. of Unfunded Proj. Benefit Obligation | 0.8 | 0.4 | 0.8 | 1.1 | 1.5 |
| Debt Equivalent Oper. Leases | (135.2) | (189.1) | 242.7 | 237.1 | 208.6 |
| Equity Method Investments | 55.4 | 47.0 | 45.3 | 44.6 | 39.9 |
| Inventory Method | FIFO | FIFO | FIFO | FIFO | FIFO |
| Land | 379.3 | 377.3 | 375.1 | 372.5 | 370.7 |
| Buildings | 504.0 | 507.2 | 508.6 | 504.5 | 504.5 |
| Machinery | 255.6 | 266.0 | 279.8 | 255.5 | 282.8 |
| Leasehold Improvements | 391.0 | 403.9 | 405.2 | 409.3 | 422.1 |
| Full Time Employees | 12,100 | 12,500 | 13,300 | 4,667 | 4,833 |
| Part-Time Employees | NA | NA | NA | 9,333 | 9,667 |
| Assets under Cap. Lease, Gross | 222.9 | NA | NA | NA | NA |
| Assets under Cap. Lease, Accum. Depr. | (22.7) | NA | NA | NA | NA |
| Accum. Allowance for Doubtful Accts | 4.5 | 4.9 | 10.0 | 8.7 | 8.2 |
| Filing Date | Feb-26-2020 | Mar-03-2021 | Mar-01-2022 | Mar-01-2022 | Mar-01-2022 |
| Restatement Type | NC | NC | NC | NC | O |
| Calculation Type | RUP | RUP | RUP | REP | REP |
| Note: For multiple class companies, total share counts are primary class equivalent, and for foreign companies listed as primary ADRs, total share counts are ADR-equivalent. | |||||
WEN - Income Statement
| The Wendy's Company (NasdaqGS:WEN) > Financials > Income Statement | |||||
| In Millions of the reported currency, except per share items. | Template: | Standard | Restatement: | Latest Filings | |
| Period Type: | Annual | Order: | Latest on Right | ||
| Currency: | Reported Currency | Conversion: | Today's Spot Rate | ||
| Units: | S&P Capital IQ (Default) | Decimals: | Capital IQ (Default) | ||
| Source: | Capital IQ & Proprietary Data | ||||
| Income Statement | |||||
| For the Fiscal Period Ending | Reclassified 12 months Dec-31-2017 | Reclassified 12 months Dec-30-2018 | Reclassified 12 months Dec-29-2019 | Reclassified 12 months Jan-03-2021 | 12 months Jan-02-2022 |
| Currency | USD | USD | USD | USD | USD |
| Revenue | 1,223.4 | 1,263.9 | 1,369.5 | 1,400.2 | 1,507.5 |
| Other Revenue | - | - | - | - | - |
| Total Revenue | 1,223.4 | 1,263.9 | 1,369.5 | 1,400.2 | 1,507.5 |
| Cost Of Goods Sold | 622.3 | 664.9 | 765.1 | 767.0 | 787.0 |
| Gross Profit | 601.1 | 599.0 | 604.4 | 633.2 | 720.5 |
| Selling General & Admin Exp. | 202.9 | 189.9 | 200.2 | 206.9 | 243.0 |
| R & D Exp. | - | - | - | - | - |
| Depreciation & Amort. | 125.7 | 128.9 | 131.7 | 132.8 | 125.5 |
| Other Operating Expense/(Income) | (1.1) | (2.5) | (4.1) | 9.4 | 19.0 |
| Other Operating Exp., Total | 327.5 | 316.3 | 327.8 | 349.0 | 387.5 |
| Operating Income | 273.6 | 282.7 | 276.6 | 284.1 | 333.0 |
| Interest Expense | (140.9) | (147.3) | (142.3) | (146.8) | (139.8) |
| Interest and Invest. Income | 25.6 | 478.4 | 51.9 | 29.1 | 30.7 |
| Net Interest Exp. | (115.4) | 331.1 | (90.4) | (117.7) | (109.1) |
| Income/(Loss) from Affiliates | 7.6 | 8.1 | 8.7 | 6.1 | 11.2 |
| Other Non-Operating Inc. (Exp.) | 1.6 | 5.4 | 7.8 | 1.4 | 0.7 |
| EBT Excl. Unusual Items | 167.5 | 627.3 | 202.7 | 173.9 | 235.7 |
| Restructuring Charges | (22.6) | (9.1) | (17.0) | (16.0) | (8.5) |
| Impairment of Goodwill | - | - | - | - | - |
| Gain (Loss) On Sale Of Invest. | - | - | - | (0.2) | - |
| Gain (Loss) On Sale Of Assets | (39.8) | 0.5 | 1.3 | 3.1 | 33.5 |
| Asset Writedown | (3.4) | (4.7) | (7.0) | (8.0) | (2.3) |
| Legal Settlements | (0.7) | (27.6) | - | - | - |
| Other Unusual Items | - | (11.5) | (8.5) | - | (17.9) |
| EBT Incl. Unusual Items | 101.0 | 574.9 | 171.5 | 152.8 | 240.6 |
| Income Tax Expense | (93.0) | 114.8 | 34.5 | 35.0 | 40.2 |
| Earnings from Cont. Ops. | 194.0 | 460.1 | 136.9 | 117.8 | 200.4 |
| Earnings of Discontinued Ops. | - | - | - | - | - |
| Extraord. Item & Account. Change | - | - | - | - | - |
| Net Income to Company | 194.0 | 460.1 | 136.9 | 117.8 | 200.4 |
| Minority Int. in Earnings | - | - | - | - | - |
| Net Income | 194.0 | 460.1 | 136.9 | 117.8 | 200.4 |
| Pref. Dividends and Other Adj. | - | - | - | - | - |
| NI to Common Incl Extra Items | 194.0 | 460.1 | 136.9 | 117.8 | 200.4 |
| NI to Common Excl. Extra Items | 194.0 | 460.1 | 136.9 | 117.8 | 200.4 |
| Per Share Items | |||||
| Basic EPS | $0.79 | $1.93 | $0.6 | $0.53 | $0.91 |
| Basic EPS Excl. Extra Items | 0.79 | 1.93 | 0.6 | 0.53 | 0.91 |
| Weighted Avg. Basic Shares Out. | 244.2 | 237.8 | 229.9 | 223.7 | 221.4 |
| Diluted EPS | $0.77 | $1.88 | $0.58 | $0.52 | $0.89 |
| Diluted EPS Excl. Extra Items | 0.77 | 1.88 | 0.58 | 0.52 | 0.89 |
| Weighted Avg. Diluted Shares Out. | 252.3 | 245.0 | 235.1 | 228.0 | 224.4 |
| Normalized Basic EPS | $0.43 | $1.65 | $0.55 | $0.49 | $0.67 |
| Normalized Diluted EPS | 0.41 | 1.6 | 0.54 | 0.48 | 0.66 |
| Dividends per Share | $0.28 | $0.34 | $0.42 | $0.29 | $0.43 |
| Payout Ratio % | 35.2% | 17.5% | 70.4% | 55.0% | 47.3% |
| Supplemental Items | |||||
| EBITDA | 399.3 | 411.6 | 408.3 | 416.9 | 458.6 |
| EBITA | 320.9 | 334.8 | 329.8 | 336.7 | 388.2 |
| EBIT | 273.6 | 282.7 | 276.6 | 284.1 | 333.0 |
| EBITDAR | 382.4 | 388.0 | 438.6 | 446.5 | 484.6 |
| As Reported Total Revenue* | 1,223.4 | 1,589.9 | 1,709.0 | 1,733.8 | 1,897.0 |
| Effective Tax Rate % | NM | 20.0% | 20.1% | 22.9% | 16.7% |
| Current Domestic Taxes | 17.1 | 111.7 | 24.5 | 19.9 | 45.5 |
| Current Foreign Taxes | 9.2 | 9.6 | 9.2 | 4.8 | 8.5 |
| Total Current Taxes | 26.3 | 121.4 | 33.7 | 24.7 | 54.0 |
| Deferred Domestic Taxes | (119.9) | (5.5) | 0.9 | 9.9 | (15.9) |
| Deferred Foreign Taxes | 0.5 | (1.1) | 0 | 0.4 | 2.2 |
| Total Deferred Taxes | (119.3) | (6.6) | 0.8 | 10.3 | (13.8) |
| Normalized Net Income | 104.7 | 392.1 | 126.7 | 108.7 | 147.3 |
| Interest on Long Term Debt | 108.5 | 107.9 | 142.8 | 146.8 | 139.8 |
| Filing Date | Feb-26-2020 | Mar-03-2021 | Mar-01-2022 | Mar-01-2022 | Mar-01-2022 |
| Restatement Type | RC | RC | RC | RC | O |
| Calculation Type | REP | REP | REP | REP | REP |
| Supplemental Operating Expense Items | |||||
| Advertising Exp. | 27.9 | 27.9 | 30.0 | 29.7 | 31.6 |
| General and Administrative Exp. | 202.9 | 189.9 | 200.2 | 206.9 | 243.0 |
| Net Rental Exp. | (16.9) | (23.6) | 30.3 | 29.6 | 26.1 |
| Imputed Oper. Lease Interest Exp. | (7.2) | (10.1) | 10.6 | 9.4 | 7.7 |
| Imputed Oper. Lease Depreciation | NM | NM | 19.7 | 20.2 | 18.3 |
| Stock-Based Comp., G&A Exp. | 5.1 | 1.6 | 17.7 | 18.3 | 22.0 |
| Stock-Based Comp., Unallocated | 15.8 | 16.4 | 1.0 | 0.6 | - |
| Stock-Based Comp., Total | 20.9 | 17.9 | 18.7 | 18.9 | 22.0 |
| * Occasionally, certain items classified as Revenue by the company will be re-classified as other income if it is deemed to be non-recurring and unrelated to the core business of the firm. This field shows Total Revenue exactly as reported by the firm on its consolidated statement of income. | |||||
| Note: For multiple class companies, per share items are primary class equivalent, and for foreign companies listed as primary ADRs, per share items are ADR-equivalent. | |||||
WEN - Cash Flow
| The Wendy's Company (NasdaqGS:WEN) > Financials > Cash Flow | |||||
| In Millions of the reported currency, except per share items. | Template: | Standard | Restatement: | Latest Filings | |
| Period Type: | Annual | Order: | Latest on Right | ||
| Currency: | Reported Currency | Conversion: | Today's Spot Rate | ||
| Units: | S&P Capital IQ (Default) | Decimals: | Capital IQ (Default) | ||
| Source: | Capital IQ & Proprietary Data | ||||
| Cash Flow | |||||
| For the Fiscal Period Ending | Restated 12 months Dec-31-2017 | 12 months Dec-30-2018 | 12 months Dec-29-2019 | 12 months Jan-03-2021 | 12 months Jan-02-2022 |
| Currency | USD | USD | USD | USD | USD |
| Net Income | 194.0 | 460.1 | 136.9 | 117.8 | 200.4 |
| Depreciation & Amort. | 78.4 | 76.8 | 78.5 | 80.2 | 70.3 |
| Amort. of Goodwill and Intangibles | 47.3 | 52.1 | 53.2 | 52.6 | 55.2 |
| Depreciation & Amort., Total | 125.7 | 128.9 | 131.7 | 132.8 | 125.5 |
| Other Amortization | 7.9 | 5.9 | 5.5 | 5.6 | 5.7 |
| (Gain) Loss On Sale Of Invest. | (2.6) | (450.0) | (24.5) | - | (0.1) |
| Asset Writedown & Restructuring Costs | 43.2 | 4.2 | 5.7 | 4.9 | (31.3) |
| (Income) Loss on Equity Invest. | 4.1 | 5.3 | 4.7 | 2.3 | 5.1 |
| Stock-Based Compensation | 20.9 | 17.9 | 18.7 | 18.9 | 22.0 |
| Other Operating Activities | (123.9) | (5.6) | (8.4) | (4.5) | (12.2) |
| Change in Acc. Receivable | (17.3) | 13.2 | 16.9 | (16.2) | (5.6) |
| Change In Inventories | (0.3) | (0.4) | (0.2) | (0.8) | (0.9) |
| Change in Acc. Payable | (2.3) | (0.1) | 1.1 | 1.6 | 7.6 |
| Change in Other Net Operating Assets | (10.7) | 44.7 | 0.7 | 22.0 | 29.5 |
| Cash from Ops. | 238.8 | 224.2 | 288.9 | 284.4 | 345.8 |
| Capital Expenditure | (81.7) | (69.9) | (74.5) | (69.0) | (78.0) |
| Sale of Property, Plant, and Equipment | 10.5 | 1.8 | 3.4 | 6.0 | 4.6 |
| Cash Acquisitions | (86.8) | (21.4) | (5.1) | (4.9) | (123.1) |
| Divestitures | 71.0 | 1.4 | - | 0.1 | 50.6 |
| Invest. in Marketable & Equity Securt. | 3.7 | 450.0 | 24.5 | 0.2 | (9.9) |
| Net (Inc.) Dec. in Loans Originated/Sold | - | - | - | - | - |
| Other Investing Activities | (9.0) | 1.0 | (3.4) | (0.7) | 1.2 |
| Cash from Investing | (92.2) | 362.9 | (54.9) | (68.3) | (154.7) |
| Short Term Debt Issued | - | - | - | - | - |
| Long-Term Debt Issued | 31.1 | 934.8 | 850.0 | 153.3 | 1,100.0 |
| Total Debt Issued | 31.1 | 934.8 | 850.0 | 153.3 | 1,100.0 |
| Short Term Debt Repaid | - | - | - | - | - |
| Long-Term Debt Repaid | (58.1) | (900.1) | (906.6) | (199.8) | (984.0) |
| Total Debt Repaid | (58.1) | (900.1) | (906.6) | (199.8) | (984.0) |
| Issuance of Common Stock | 12.9 | 45.2 | 28.3 | 23.4 | 30.0 |
| Repurchase of Common Stock | (132.0) | (281.6) | (226.6) | (67.8) | (273.0) |
| Common Dividends Paid | (68.3) | (80.5) | (96.4) | (64.9) | (94.8) |
| Total Dividends Paid | (68.3) | (80.5) | (96.4) | (64.9) | (94.8) |
| Special Dividend Paid | - | - | - | - | - |
| Other Financing Activities | (1.4) | (23.6) | (14.0) | (2.1) | (20.9) |
| Cash from Financing | (215.8) | (305.8) | (365.3) | (157.9) | (242.7) |
| Foreign Exchange Rate Adj. | 6.1 | (7.7) | 3.5 | 1.3 | 0.4 |
| Net Change in Cash | (63.1) | 273.7 | (127.8) | 59.5 | (51.3) |
| Supplemental Items | |||||
| Cash Interest Paid | 129.0 | 137.6 | 138.3 | 136.2 | 133.3 |
| Cash Taxes Paid | 29.3 | 102.8 | 34.8 | 16.2 | 54.8 |
| Levered Free Cash Flow | 168.7 | 221.7 | 165.5 | 102.1 | 246.2 |
| Unlevered Free Cash Flow | 248.9 | 307.8 | 248.9 | 188.3 | 327.9 |
| Change in Net Working Capital | (12.9) | (54.1) | (0.1) | 72.1 | (50.2) |
| Net Debt Issued | (27.0) | 34.8 | (56.6) | (46.5) | 116.0 |
| Filing Date | Feb-26-2020 | Mar-03-2021 | Mar-01-2022 | Mar-01-2022 | Mar-01-2022 |
| Restatement Type | RS | NC | NC | NC | O |
| Calculation Type | REP | REP | REP | REP | REP |
