Wendy's Co (NASDAQ: WEN) is a quick-service restaurant company that operates and franchises the Wendy's hamburger chain. Revenue comes primarily from franchise royalties and fees paid by franchisee operators, supplemented by sales at company-operated restaurants. Wendy's is one of the largest hamburger quick-service restaurant chains in the United States, competing with McDonald's and Burger King in the fast-food segment. The company is headquartered in Dublin, Ohio. Based on the 10-K filed February 23, 2026 for fiscal year ended in 2025, the filing confirms Wendy's status as a well-known seasoned issuer under SEC rules. The business operates through a franchise-heavy model, which generates royalty and fee income with lower capital intensity than a fully company-operated restaurant portfolio.

Revenue model

Franchise royalties and fees from franchisee operators, plus sales from company-operated Wendy's restaurants.

Products and services

Wendy's brand quick-service hamburger restaurants, franchise agreements, and related franchise support services.

Customers and end markets

Franchisee restaurant operators as direct customers for franchise services; retail consumers as end customers at Wendy's restaurant locations.

Value-chain role

Brand owner and franchisor in the quick-service restaurant industry, with a secondary role as direct restaurant operator.

Geographic exposure

United States is the primary market; international franchise operations also present based on Wendy's known filing structure, though specific country-level detail is not supported by the provided filing excerpts.

Source: SEC 10-K, filed 2026-02-23

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