Wendy’s (WEN) revenue breakdown
By segment, Wendy's U.S. is the largest at 82% of fiscal 2025 revenue; Wendy's International grew fastest, 17% a year over 8 years.
By product, Sales at Company-operated restaurants is the largest at 42% of fiscal 2025 revenue, growing 6% a year over 4 years.
Revenue by segment
Fiscal years, as Wendy’s reports them in its 10-K filings; fiscal 2025 total $2.2B.
| Segments | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|
| Wendy's U.S. | $987M | $1.3B | $1.4B | $1.4B | $1.6B | $1.8B | $1.8B | $1.9B | $1.8B | 82% |
| Global Real Estate & Development | $193M | $210M | $236M | $237M | $243M | $239M | $235M | $242M | $239M | 11% |
| Wendy's International | $44M | $68M | $68M | $66M | $86M | $107M | $131M | $145M | $153M | 7% |
Revenue by product
Fiscal years, as Wendy’s reports them in its 10-K filings; fiscal 2025 total $2.2B.
| Products | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|
| Sales at Company-operated restaurants | $734M | $897M | $930M | $926M | $916M | 42% |
| Franchise royalty revenue | $461M | $485M | $512M | $528M | $505M | 23% |
| Advertising funds revenue | $390M | $406M | $429M | $458M | $422M | 19% |
| Franchise Rental Income | $237M | $234M | $230M | $236M | $236M | 11% |
| Franchise fees | $76M | $73M | $80M | $98M | $98M | 5% |
Revenue by region
Fiscal years, as Wendy’s reports them in its 10-K filings; fiscal 2025 total $2.2B.
| Regions | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| U.S. | $1.4B | $1.2B | $1.5B | $1.6B | $1.6B | $1.8B | $1.9B | $2.0B | $2.1B | $2.0B | 91% |
| International | — | — | $94M | $102M | $98M | $125M | $150M | $174M | $190M | $199M | 9% |
| Canada | $46M | $50M | — | — | — | — | — | — | — | — | — |
| Other International | $16M | $18M | — | — | — | — | — | — | — | — | — |
Questions
Where does Wendy’s make its money?
In fiscal 2025, by segment: Wendy's U.S. $1.8B, Global Real Estate & Development $239M, Wendy's International $153M.
From Wendy’s's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.