This paper is a financial analysis of Wendy's International, using McDonald's Corporation, the industry leader in the fast food segment of the restaurant industry, as the benchmark firm.
Written in 2002; 2,100 words; 2 sources; APA; $ 65.95
Paper Summary:
This paper evaluates the financial position of Wendy's International Corporation, a fast food restaurant, by comparing it to the financial position of McDonald's Corporation. This author reports that Wendy's income performance, while strong, is substantially inferior to that of McDonald"s; and, in this area more than any other, Wendy's needs to improve if the corporation is to narrow the gap. This paper states that McDonald's has a substantially higher inventory turnover and holds less than half as many days in sales than does Wendy"s.
Table of Contents
Executive Summary
Financial Position
Income Performance
Short-Term Liquidity
Long-Term Solvency
Asset Management
Profitability
Market Value
List of Appendices
Common-Size Balance Sheets"McDonald's Corporation
Common-Size Balance Sheets"Wendy's International
Combined Common-Size & Base-Year Balance Sheets"McDonald's Corporation
Combined Common-Size & Base-Year Balance Sheets"Wendy's International
Common-Size Balance Sheet"Wendy's International With Baseline Comparison
Common-Size Income Statements"McDonald"s
Common-Size Income Statements"Wendy"s
Combined Common-Size & Base-Year Income Statements"McDonald"s
Combined Common-Size & Base-Year Income Statements"Wendy"s
Common-Size Income Statement"Wendy's With Baseline Comparison
Short-Term Liquidity Ratios"Wendy's With Baseline Comparison
Long-Term Solvency Ratios"Wendy's With Baseline Comparison
Asset Management Ratios"Wendy's With Baseline Comparison
Profitability Ratios"Wendy's With Baseline Comparison
Market Value Ratios"Wendy's With Baseline Comparison
Du Point Analysis"Wendy's 1998
From the Paper:
"With respect to short-term liquidity, Wendy's compares well in relation to McDonald's (refer to Appendix B-1). The reason for the Wendy's advantage lies in the corporation's decision to keep such a high proportion of assets in a current status. This strategy is not conducive to the most productive use of the corporation's assets.
"In relation to debt ratios, Wendy's is superior to McDonald's (refer to Appendix B-2). In this area, Wendy's also is superior to McDonald's in relation to interest coverage, as the corporation uses borrowing very little in comparison to McDonald?s."
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