The Company is primarily engaged in the business of operating, developing and franchising a system of distinctive quick-service restaurants serving high quality food.
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I wanted to like this, but it was purely a spec play. And if I happen to get back in, it will still be a spec play, because the fundamentals aren't cutting it for me.
~$2.1B of the $4.3B in total assets is counted as "goodwill" and "intangibles"
About $1.2B - $1.3B will be coming due between 2012 - 2019 (2012, $433M should have already been paid in July).
Has only net income of $9.8M/yr, if I'm being generous.
The only way I have conceived that Wendy's would be a good buy, would be if McDonald's bought them out, because McDonald's would get a tremendous boost of scale, while being best able of the fast food companies to stomach Wendy's total debt load.
But I am doubtful McDonald's will buy them out since that could be against antitrust law.
Thus, I see little hope for Wendy's stock at this price, as a going concern.
Lee