WEN vs FHI Comparison

The Wendy's Company is the second-largest burger quick-service restaurant, or QSR, chain in the United States by systemwide sales, with $12.3 billion in 2023, narrowly edging Burger King ($11.5 billion) and clocking in well behind wide-moat McDonald's ($53.1 billion). After divestitures of Tim Hortons (2006) and Arby's (2011), the firm manages just the burger banner, generating sales across a footprint that spanned almost 7,157 total stores in 30 countries as of year-end 2023. Wendy's generates revenue from the sale of hamburgers, chicken sandwiches, salads, and fries throughout its company-owned footprint, through franchise royalty and marketing fund payments remitted by its franchisees, which account for 94% of stores, and through franchise flipping and advisory fees.

Federated Hermes provides asset-management services for institutional and individual investors. The firm had $800 billion in managed assets at the end of September 2024, composed of equity (10%), multi-asset (less than 1%), fixed-income (12%), alternative (3%), and money market (74%) funds. The firm's cash-management operations are expected to generate around 51% of Federated's revenue this year, compared with 29%, 12%, and 7%, respectively, for the equity, fixed-income, and alternatives/multi-asset operations. The company's products are distributed via trust banks, wealth managers, and retail broker/dealers (65% of AUM), institutional investors (26%), and international clients (9%).