WEN Wendy's margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 54

Gross margin

36.9%

Operating margin

12%

EBITDA margin

20.6%

Net margin

4.4%

Using the latest TTM figures, Wendy's shows a gross margin of 36.9%, an operating margin of 12%, an EBITDA margin of 20.6%, and a net margin of 4.4%. Operating margin had the largest decline, decreasing by 5 percentage points, while the other available margins also declined.

WEN margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Wendy's recorded average margins of 38.08% gross, 15.95% operating, 24.24% EBITDA, and 7.97% net. The current gross, operating, EBITDA, and net margins are all below their three-year averages.

WEN margin expansion

Year-over-year margin changes in percentage points

All available margins contracted year over year, led by operating margin with a decline of 5 percentage points.

Gross margin expansion

-1.9pp

Operating margin expansion

-5pp

EBITDA margin expansion

-4.4pp

Net margin expansion

-4pp

WEN Gross margin

Looking back over the last 3 years, Wendy's recorded an average gross margin of 38.08%. Wendy's current gross margin is 36.9% and is 1.2 percentage points below its three-year average. The highest gross margin for Wendy's was 38.8% in Sep 2025, while the lowest was 36.9% in Sep 2026.

WEN Operating margin

Wendy's operating margin averaged 15.95% over the last 3 years. Compared with its three-year average, Wendy's current operating margin is 12% and is 4 percentage points below its three-year average. Over the last 3 years, Wendy's operating margin peaked at 17.5% in Dec 2023 and reached a low of 12% in Sep 2026.

WEN EBITDA margin

Wendy's recorded an average EBITDA margin of 24.24% across the last 3 years. Wendy's currently reports an EBITDA margin of 20.6%, 3.6 percentage points below its three-year average. Over the last 3 years, Wendy's EBITDA margin peaked at 25.5% in Mar 2024 and reached a low of 20.6% in Sep 2026.

WEN Net margin

Across the last 3 years, Wendy's had an average net margin of 7.97%. Against its three-year average, Wendy's net margin is currently 4.4%, 3.6 percentage points below its three-year average. Looking back over the last 3 years, Wendy's net margin reached 9.4% at its highest point in Mar 2024 and 4.4% at its lowest in Sep 2026.

WEN margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 36.9%, WEN ranks higher than the Consumer Cyclical sector, the industry and its peers average. But in comparison with the Consumer Cyclical sector average of 36.3%, Wendy's gross margin is only 1.7% higher.

WEN margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Wendy's gross margin?

The current gross margin for WEN is 36.9% as of Sep 27, 2026.

What is Wendy's operating margin?

As of Sep 27, 2026, WEN has an operating margin of 12%.

What is Wendy's EBITDA margin?

For the period ending Sep 27, 2026, WEN recorded an EBITDA margin of 20.6%.

What is Wendy's net margin?

For the period ending Sep 27, 2026, WEN recorded a net margin of 4.4%.

What are the average margins of WEN?

Over the last 3 years, Wendy's margins averaged 38.1% gross, 16.0% operating, 24.2% EBITDA, and 8.0% net.

What are the highest historical margins of WEN?

Across the 5-year period, WEN posted its highest margins at 39.1% gross in Jan 2022, 19.3% operating in Jan 2022, 25.5% EBITDA in Mar 2024, and 10.6% net in Jan 2022.

What are the lowest historical margins of WEN?

Across the 5-year period, WEN posted its lowest margins at 36.6% gross in Jan 2023, 12% operating in Sep 2026, 20.6% EBITDA in Sep 2026, and 4.4% net in Sep 2026.