McDonald's market cap is $190B vs. Wendy's $1.57B. It's actually \~120x.
McDonald's has about 6x as many stores, about 10x the revenue... why's it worth 120x? Now I know there's differences in the business model and margins and McDonald's has been growing while Wendy's has been stagnant for the past couple years, but forget all that for a second.
With everything you know about Wendy's and McDonald's... the food, how often you drive past them, how often you eat there, how often people you know eat there, does it really make sense that it's 120x the value?
Like 120 times is CRAZY. I would expect that for something like Arby's or Dairy Queen. Wendy's? Seriously?