What is Wendy's Co worth?
With the base-case assumptions below, a discounted cash flow model on Wendy's Co's reported free cash flow gives $9.78 per share. The share price was $6.55 on September 25, 2026, 33% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -0.5% | 10.0% | $1.32 | -80% |
| Base | 4.5% | 9.0% | $9.78 | +49% |
| Bull | 9.5% | 8.0% | $26.27 | +301% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $15.81 | $17.64 | $19.88 | $22.68 | $26.27 |
| 8.0% | $11.32 | $12.51 | $13.91 | $15.59 | $17.65 |
| 9.0% | $8.04 | $8.85 | $9.78 | $10.88 | $12.17 |
| 10.0% | $5.53 | $6.11 | $6.76 | $7.51 | $8.37 |
| 11.0% | $3.56 | $3.98 | $4.45 | $4.98 | $5.59 |
Where the presets come from
Base: years 1 to 5 grow at Wendy's Co's revenue growth rate over the last 5 fiscal years (4.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions