Filing Flows › Wendy's (WEN) › Q4 2025
Wendy's (WEN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 23, 2026
Wendy's (WEN) reported revenue of $543M for the fourth quarter 2025 (Q4 2025), -5% from a year earlier and -1% from the quarter before. Operating margin was 11.8%, net earnings $26.5M (4.9% of revenue).
Wendy's, Q4 2025: revenue $543M (-6% year over year), operating margin 11.8%, net earnings $26.5M, operating cash flow $69.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $543M | -1% | -5% |
| Operating profit | $64.0M | -30% | -33% |
| Net earnings | $26.5M | -40% | -44% |
| Operating cash flow | $69.3M | -46% | +1% |
| Free cash flow | $31.4M | -70% | +18% |
What changed
Revenue was $543.0M in Q4 2025, down 5% year over year and down 1% from the previous quarter. Sales at Company-operated restaurants was the largest line at 43% of revenue.
Operating profit was $64.0M, a 11.8% margin (down 4.9 points year over year). Total costs grew 0% against a revenue fall of 5%. Net earnings were $26.5M, down 44% year over year. The effective tax rate was 20.2%.
Operating cash flow was $69.3M (up 1% year over year), 262% of net earnings. Non-cash charges added back $40.3M of depreciation and amortization and $4.8M of share-based compensation. Capital expenditures of $37.9M left free cash flow of $31.4M.
Questions
What was Wendy's revenue in the fourth quarter 2025?
Wendy's (WEN) reported revenue of $543M for the fourth quarter 2025 (Q4 2025), -5% from a year earlier and -1% from the quarter before.
Was Wendy's profitable in the fourth quarter 2025?
Operating profit was $64.0M (11.8% of revenue) and net earnings $26.5M.
Source: Wendy's 10-K on SEC EDGAR.