Filing Flows › Wendy's (WEN) › Q2 2026 › vs Q2 2025
Wendy's (WEN) Q2 2026 vs Q2 2025 (year over year)
Wendy's's revenue rose $9.6M (+2%) from $561M in Q2 2025 to $571M in Q2 2026. The biggest changes: Advertising funds revenue +$16.1M (+14%); Sales +$7.2M (+3%); Franchise rental income −$7.0M (-12%). Operating margin 13.9% against 18.6% (-4.7 pts).
Wendy's, Q2 2026: revenue $571M (+2% year over year), operating margin 13.9%, net earnings $32.6M, operating cash flow $101M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 13.9% | 18.6% | -4.7 pts |
| Net margin | 5.7% | 9.8% | -4.1 pts |
| Free cash flow margin | 14.2% | 7.0% | +7.2 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Franchise royalty revenue | $124M | $132M | −$8.7M | -7% |
| Franchise fees | $26.2M | $24.1M | $2.1M | +9% |
| Franchise royalty revenue and fees | $150M | $156M | −$6.5M | -4% |
| Sales | $240M | $233M | $7.2M | +3% |
| Advertising funds revenue | $127M | $111M | $16.1M | +14% |
| Franchise rental income | $53.4M | $60.4M | −$7.0M | -12% |
| Revenue | $571M | $561M | $9.6M | +2% |
| Operating profit | $79.3M | $104M | −$25.0M | -24% |
| Costs & expenses | $491M | $457M | $34.6M | +8% |
| Pre-tax earnings | $48.6M | $75.9M | −$27.3M | -36% |
| Other expense, net | $30.7M | $28.4M | $2.4M | +8% |
| Cost of revenue | $207M | $197M | $10.8M | +5% |
| General & admin | $66.2M | $59.5M | $6.7M | +11% |
| Other operating costs | $218M | $201M | $17.2M | +9% |
| Net earnings | $32.6M | $55.1M | −$22.5M | -41% |
| Income tax | $16.0M | $20.8M | −$4.8M | -23% |
| Depreciation & amortization | $38.1M | $37.0M | $1.1M | +3% |
| Share-based compensation | $2.9M | $5.1M | −$2.2M | -43% |
| Working capital & other | $26.9M | −$36.6M | $63.6M | — |
| Operating cash flow | $101M | $60.6M | $40.0M | +66% |
| Free cash flow (OCF − capex) | $81.0M | $39.2M | $41.8M | +107% |
| Capital expenditures | $19.6M | $21.4M | −$1.8M | -8% |
Questions
How much did Wendy's's revenue grow year over year in Q2 2026?
Wendy's's revenue rose $9.6M (+2%) from $561M in Q2 2025 to $571M in Q2 2026.
What drove Wendy's's revenue change in Q2 2026?
Advertising funds revenue +$16.1M (+14%); Sales +$7.2M (+3%); Franchise rental income −$7.0M (-12%).