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Cannae vs Wendy's: revenue, profit, margins and growth compared

Cannae brought in $423.6M of revenue in fiscal 2025, Wendy's $2.2B in fiscal 2025. Revenue changed by -6.4% at Cannae and -3.1% at Wendy's on the year before, so Wendy's grew faster. Cannae kept -121.2% of its revenue as net profit, Wendy's 7.6%. Free cash flow was -$28.5M at Cannae and $242.6M at Wendy's.

Side by side, latest fiscal year

CNNEWEN
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 28, 2025)
Revenue$423.6M$2.2B
Revenue growth-6.4%-3.1%
Net income-$513.2M$165.1M
Net margin-121.2%7.6%
Free cash flow-$28.5M$242.6M
Free cash flow margin-6.7%11.1%
Earnings per share (diluted)-$9.08$0.85
Cash$182M$300.8M
Debt$70.8M$2.8B
Price to earningsn/a7.7
Market value$682.7M$1.2B
Dividend yieldn/a10.23%
Rank by revenue in sector#582 of 778 · Consumer discretionary#340 of 778 · Consumer discretionary

Over the years

Revenue
CNNE FY2018: $1.3BCNNE FY2019: $1.4BCNNE FY2020: $3BCNNE FY2021: $742.2MCNNE FY2022: $662.1MCNNE FY2023: $570MCNNE FY2024: $452.5MCNNE FY2025: $423.6MWEN FY2018: $1.6BWEN FY2019: $1.7BWEN FY2020: $1.7BWEN FY2021: $1.9BWEN FY2022: $2.1BWEN FY2023: $2.2BWEN FY2024: $2.2BWEN FY2025: $2.2BFY18FY19FY20FY21FY22FY23FY24FY25
CNNE $423.6MWEN $2.2B
Net income
CNNE FY2018: $27.6MCNNE FY2019: $77.3MCNNE FY2020: $1.8BCNNE FY2021: -$287MCNNE FY2022: -$428.1MCNNE FY2023: -$313.4MCNNE FY2024: -$304.6MCNNE FY2025: -$513.2MWEN FY2018: $460.1MWEN FY2019: $136.9MWEN FY2020: $117.8MWEN FY2021: $200.4MWEN FY2022: $177.4MWEN FY2023: $204.4MWEN FY2024: $194.4MWEN FY2025: $165.1MFY18FY19FY20FY21FY22FY23FY24FY25
CNNE -$513.2MWEN $165.1M
Net margin
CNNE FY2018: 2.1%CNNE FY2019: 5.4%CNNE FY2020: 60.2%CNNE FY2021: -38.7%CNNE FY2022: -64.7%CNNE FY2023: -55.0%CNNE FY2024: -67.3%CNNE FY2025: -121.2%WEN FY2018: 28.9%WEN FY2019: 8.0%WEN FY2020: 6.8%WEN FY2021: 10.6%WEN FY2022: 8.5%WEN FY2023: 9.4%WEN FY2024: 8.7%WEN FY2025: 7.6%FY18FY19FY20FY21FY22FY23FY24FY25
CNNE -121.2%WEN 7.6%
Revenue growth
CNNE FY2019: +9.3%CNNE FY2020: +105.4%CNNE FY2021: -75.0%CNNE FY2022: -10.8%CNNE FY2023: -13.9%CNNE FY2024: -20.6%CNNE FY2025: -6.4%WEN FY2019: +7.5%WEN FY2020: +1.5%WEN FY2021: +9.4%WEN FY2022: +10.5%WEN FY2023: +4.1%WEN FY2024: +3.0%WEN FY2025: -3.1%FY19FY20FY21FY22FY23FY24FY25
CNNE -6.4%WEN -3.1%
Free cash flow
CNNE FY2018: -$38.5MCNNE FY2019: -$112.5MCNNE FY2020: -$136.2MCNNE FY2021: -$189.8MCNNE FY2022: -$219.4MCNNE FY2023: -$97.8MCNNE FY2024: -$97.1MCNNE FY2025: -$28.5MWEN FY2018: $154.4MWEN FY2019: $214.5MWEN FY2020: $215.4MWEN FY2021: $267.8MWEN FY2022: $174.4MWEN FY2023: $260.4MWEN FY2024: $260.9MWEN FY2025: $242.6MFY18FY19FY20FY21FY22FY23FY24FY25
CNNE -$28.5MWEN $242.6M

Fiscal years as each company reports them; the two may end in different months.

Questions about Cannae and Wendy's

Which is bigger by revenue, Cannae or Wendy's?

Wendy's is bigger by revenue: $2.2B in fiscal 2025, against $423.6M for Cannae in fiscal 2025.

Which keeps more of its revenue as profit, Cannae or Wendy's?

Cannae had a net margin of -121.2% in fiscal 2025; Wendy's had 7.6% in fiscal 2025.

Which grew revenue faster, Cannae or Wendy's?

In their latest fiscal years revenue changed by -6.4% at Cannae and -3.1% at Wendy's.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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