Wendy's annual debt-to-equity ratio
2009
2010
2011
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2015
2016
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2018
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2020
2021
2022
2023
2024
2025
Wendy's Debt-to-Equity Ratio Growth & History (WEN)
Wendy's's debt-to-equity ratio was 35.31 for fiscal 2025.
View full Wendy's company overviewWendy's annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-28 | 35.31 | 19.53 | +123.78% |
| 2024 | 2024-12-29 | 15.78 | 2.42 | +18.08% |
| 2023 | 2023-12-31 | 13.36 | 4.17 | +45.35% |
| 2022 | 2023-01-01 | 9.19 | 0.36 | +4.04% |
| 2021 | 2022-01-02 | 8.84 | 2.15 | +32.12% |
| 2020 | 2021-01-03 | 6.69 | −0.50 | −7.00% |
| 2019 | 2019-12-29 | 7.19 | 2.90 | +67.49% |
| 2018 | 2018-12-30 | 4.29 | −0.51 | −10.64% |
| 2017 | 2017-12-31 | 4.81 | 0.04 | +0.94% |
| 2016 | 2017-01-01 | 4.76 | 1.54 | +47.74% |
| 2015 | 2016-01-03 | 3.22 | 2.38 | +284.83% |
| 2014 | 2014-12-28 | 0.84 | 0.08 | +10.37% |
| 2013 | 2013-12-29 | 0.76 | 0.02 | +3.36% |
| 2012 | 2012-12-30 | 0.73 | 0.05 | +7.96% |
| 2011 | 2012-01-01 | 0.68 | −0.05 | −6.47% |
| 2010 | 2011-01-02 | 0.73 | 0.08 | +13.16% |
| 2009 | 2010-01-03 | 0.64 | — | — |
Wendy's quarterly debt-to-equity ratio
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Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-28 | 33.81 | −2.41 | −6.65% |
| Q1 2026 | 2026-03-29 | 35.63 | 4.33 | +13.83% |
| Q4 2025 | 2025-12-28 | 35.31 | 19.53 | +123.78% |
| Q3 2025 | 2025-09-28 | 37.72 | 21.94 | +139.15% |
| Q2 2025 | 2025-06-29 | 36.21 | 21.22 | +141.58% |
| Q1 2025 | 2025-03-30 | 31.30 | 17.27 | +123.06% |
| Q4 2024 | 2024-12-29 | 15.78 | 2.42 | +18.08% |
| Q3 2024 | 2024-09-29 | 15.77 | 3.55 | +29.05% |
| Q2 2024 | 2024-06-30 | 14.99 | 4.22 | +39.24% |
| Q1 2024 | 2024-03-31 | 14.03 | 3.95 | +39.22% |
| Q4 2023 | 2023-12-31 | 13.36 | 4.17 | +45.35% |
| Q3 2023 | 2023-10-01 | 12.22 | 2.40 | +24.48% |
| Q2 2023 | 2023-07-02 | 10.77 | 0.56 | +5.44% |
| Q1 2023 | 2023-04-02 | 10.08 | 0.56 | +5.91% |
| Q4 2022 | 2023-01-01 | 9.19 | 0.36 | +4.04% |
| Q3 2022 | 2022-10-02 | 9.82 | 2.79 | +39.70% |
| Q2 2022 | 2022-07-03 | 10.21 | 3.50 | +52.20% |
| Q1 2022 | 2022-04-03 | 9.52 | 2.51 | +35.86% |
| Q4 2021 | 2022-01-02 | 8.84 | 2.15 | +32.12% |
| Q3 2021 | 2021-10-03 | 7.03 | −0.04 | −0.55% |
| Q2 2021 | 2021-07-04 | 6.71 | −1.16 | −14.79% |
| Q1 2021 | 2021-04-04 | 7.00 | −1.46 | −17.26% |
| Q4 2020 | 2021-01-03 | 6.69 | −0.50 | −7.00% |
| Q3 2020 | 2020-09-27 | 7.07 | 1.32 | +23.05% |
| Q2 2020 | 2020-06-28 | 7.87 | 2.09 | +36.16% |
| Q1 2020 | 2020-03-29 | 8.47 | 2.54 | +42.95% |
| Q4 2019 | 2019-12-29 | 7.19 | 2.90 | +67.49% |
| Q3 2019 | 2019-09-29 | 5.74 | 2.18 | +61.18% |
| Q2 2019 | 2019-06-30 | 5.78 | −0.73 | −11.18% |
| Q1 2019 | 2019-03-31 | 5.92 | −0.14 | −2.36% |
| Q4 2018 | 2018-12-30 | 4.29 | −0.51 | −10.64% |
| Q3 2018 | 2018-09-30 | 3.56 | −2.27 | −38.87% |
| Q2 2018 | 2018-07-01 | 6.51 | 0.97 | +17.44% |
| Q1 2018 | 2018-04-01 | 6.06 | 1.25 | +25.92% |
| Q4 2017 | 2017-12-31 | 4.81 | 0.04 | +0.94% |
| Q3 2017 | 2017-10-01 | 5.83 | 2.16 | +58.73% |
| Q2 2017 | 2017-07-02 | 5.54 | 1.96 | +54.59% |
| Q1 2017 | 2017-04-02 | 4.82 | 1.44 | +42.55% |
| Q4 2016 | 2017-01-01 | 4.76 | 1.54 | +47.74% |
| Q3 2016 | 2016-10-02 | 3.67 | 0.27 | +7.81% |
| Q2 2016 | 2016-07-03 | 3.59 | 2.21 | +160.01% |
| Q1 2016 | 2016-04-03 | 3.38 | 2.57 | +316.39% |
| Q4 2015 | 2016-01-03 | 3.22 | 2.38 | +284.83% |
| Q3 2015 | 2015-09-27 | 3.41 | 2.59 | +317.93% |
| Q2 2015 | 2015-06-28 | 1.38 | 0.57 | +69.84% |
| Q1 2015 | 2015-03-29 | 0.81 | −0.01 | −1.79% |
| Q4 2014 | 2014-12-28 | 0.84 | 0.08 | +10.37% |
| Q3 2014 | 2014-09-28 | 0.82 | 0.05 | +6.53% |
| Q2 2014 | 2014-06-29 | 0.81 | 0.06 | +8.39% |
| Q1 2014 | 2014-03-30 | 0.83 | 0.09 | +12.98% |
| Q4 2013 | 2013-12-29 | 0.76 | 0.02 | +3.36% |
| Q3 2013 | 2013-09-29 | 0.77 | 0.03 | +4.24% |
| Q2 2013 | 2013-06-30 | 0.75 | 0.05 | +7.88% |
| Q1 2013 | 2013-03-31 | 0.73 | 0.06 | +9.17% |
| Q4 2012 | 2012-12-30 | 0.73 | 0.05 | +7.96% |
| Q3 2012 | 2012-09-30 | 0.73 | — | — |
| Q2 2012 | 2012-07-01 | 0.69 | — | — |
| Q1 2012 | 2012-04-01 | 0.67 | −0.04 | −5.98% |
| Q4 2011 | 2012-01-01 | 0.68 | −0.05 | −6.47% |
| Q1 2011 | 2011-04-03 | 0.71 | — | — |
| Q4 2010 | 2011-01-02 | 0.73 | 0.08 | +13.16% |
| Q3 2010 | 2010-10-03 | 0.72 | — | — |
| Q2 2010 | 2010-07-04 | 0.72 | — | — |
| Q4 2009 | 2010-01-03 | 0.64 | — | — |
Wendy's debt-to-equity ratio trends
Over the last five fiscal years, Wendy's's debt-to-equity ratio increased from 6.69 to 35.31, a change of 28.62. The latest reported quarter, Q2 2026, shows 33.81.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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