The Wendy's Company
Building your investment thesis
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Analysis in progress
Pulling historical financials
Annual and quarterly income statements, balance sheet
Parsing the annual report
Reading the latest earnings call
Pulling analyst estimates
Distilling the big idea
Understanding how they make money
Auditing the numbers
Stress-testing the moat
Assessing the people running this
Mapping the road ahead
Running valuation analysis
Writing the final call
Tallying up the evidence