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Wingstop Inc Financials

WING
Source SEC Filings (10-K/10-Q) Updated Dec 27, 2025 Currency USD FYE December

This page shows Wingstop Inc (WING) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 64 / 100
Financial Profile 64/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
79

Wingstop Inc has an operating margin of 25.7%, meaning the company retains $26 of operating profit per $100 of revenue. This strong profitability earns a score of 79/100, reflecting efficient cost management and pricing power. This is down from 26.5% the prior year.

Growth
52

Wingstop Inc's revenue grew 11.4% year-over-year to $696.9M, a solid pace of expansion. This earns a growth score of 52/100.

Liquidity
63

Wingstop Inc's current ratio of 3.26 indicates adequate short-term liquidity, earning a score of 63/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
63

Wingstop Inc has a free cash flow margin of 15.2%, earning a moderate score of 63/100. The company generates positive cash flow after capital investments, but with room for improvement.

Altman Z-Score Grey Zone
2.73

Wingstop Inc scores 2.73, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($4.9B) relative to total liabilities ($1.4B). This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral
6/9

Wingstop Inc passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed
0.88x

For every $1 of reported earnings, Wingstop Inc generates $0.88 in operating cash flow ($153.1M OCF vs $174.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue
$696.9M
YoY+11.4%
5Y CAGR+22.9%
10Y CAGR+24.5%

Wingstop Inc generated $696.9M in revenue in fiscal year 2025. This represents an increase of 11.4% from the prior year.

EBITDA
$204.4M
YoY+10.4%
5Y CAGR+25.8%
10Y CAGR+24.7%

Wingstop Inc's EBITDA was $204.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 10.4% from the prior year.

Net Income
$174.3M
YoY+60.3%
5Y CAGR+49.5%
10Y CAGR+32.9%

Wingstop Inc reported $174.3M in net income in fiscal year 2025. This represents an increase of 60.3% from the prior year.

EPS (Diluted)
$6.21
YoY+67.8%
5Y CAGR+51.4%
10Y CAGR+32.9%

Wingstop Inc earned $6.21 per diluted share (EPS) in fiscal year 2025. This represents an increase of 67.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$105.6M
YoY-0.1%
5Y CAGR+12.2%
10Y CAGR+24.4%

Wingstop Inc generated $105.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 0.1% from the prior year.

Cash & Debt
$196.6M
YoY-37.8%
5Y CAGR+36.9%
10Y CAGR+33.8%

Wingstop Inc held $196.6M in cash against $1.2B in long-term debt as of fiscal year 2025.

Dividends Per Share
$1.14
YoY+16.3%
5Y CAGR-27.0%
10Y CAGR-4.6%

Wingstop Inc paid $1.14 per share in dividends in fiscal year 2025. This represents an increase of 16.3% from the prior year.

Shares Outstanding
28M
YoY-3.9%
5Y CAGR-1.5%
10Y CAGR-0.4%

Wingstop Inc had 28M shares outstanding in fiscal year 2025. This represents a decrease of 3.9% from the prior year.

Margins & Returns

Gross Margin
86.2%
YoY+0.9pp
5Y CAGR+5.8pp
10Y CAGR+14.7pp

Wingstop Inc's gross margin was 86.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.9 percentage points from the prior year.

Operating Margin
25.7%
YoY-0.7pp
5Y CAGR+2.7pp
10Y CAGR+0.4pp

Wingstop Inc's operating margin was 25.7% in fiscal year 2025, reflecting core business profitability. This is down 0.7 percentage points from the prior year.

Net Margin
25.0%
YoY+7.6pp
5Y CAGR+15.6pp
10Y CAGR+12.0pp

Wingstop Inc's net profit margin was 25.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.6 percentage points from the prior year.

Return on Equity
N/A

Capital Allocation

R&D Spending
N/A
Share Buybacks
$221.9M
YoY-29.5%

Wingstop Inc spent $221.9M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 29.5% from the prior year.

Capital Expenditures
$47.4M
YoY-8.6%
5Y CAGR+51.0%
10Y CAGR+37.8%

Wingstop Inc invested $47.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 8.6% from the prior year.

WING Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $175.7M0.0% $175.7M+0.8% $174.3M+1.9% $171.1M+5.7% $161.8M-0.4% $162.5M+4.4% $155.7M+6.8% $145.8M
Cost of Revenue $24.5M+0.6% $24.3M-0.3% $24.4M+6.9% $22.8M-2.1% $23.3M-4.3% $24.4M+7.5% $22.7M+6.6% $21.3M
Gross Profit $151.2M-0.1% $151.4M+1.0% $149.9M+1.1% $148.3M+7.0% $138.5M+0.3% $138.1M+3.8% $133.0M+6.8% $124.5M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $33.3M+8.7% $30.7M-6.9% $32.9M+4.8% $31.4M+0.7% $31.2M-3.3% $32.3M+14.9% $28.1M+11.6% $25.2M
Operating Income $46.8M-4.3% $49.0M+8.2% $45.2M+18.2% $38.3M-8.6% $41.8M+5.1% $39.8M-3.4% $41.2M-3.6% $42.7M
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax $10.8M-2.8% $11.2M+11.5% $10.0M-67.7% $30.9M+210.5% $10.0M+2.1% $9.8M+8.3% $9.0M-7.6% $9.8M
Net Income $26.8M-6.0% $28.5M+6.4% $26.8M-71.0% $92.3M+244.9% $26.8M+4.0% $25.7M-6.4% $27.5M-4.4% $28.7M
EPS (Diluted) N/A $1.02+6.3% $0.96-70.4% $3.24 N/A $0.88-5.4% $0.93-5.1% $0.98

WING Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $693.4M-3.8% $721.0M+1.8% $708.3M+1.6% $696.8M-2.7% $716.2M+47.8% $484.8M+7.3% $451.8M+9.6% $412.3M
Current Assets $267.5M-16.5% $320.2M+2.4% $312.8M-3.5% $324.3M-18.0% $395.6M+138.0% $166.2M+2.1% $162.8M-4.7% $170.9M
Cash & Equivalents $196.6M-17.3% $237.6M+4.3% $227.9M-9.3% $251.4M-20.4% $315.9M+276.3% $84.0M-13.2% $96.7M-10.7% $108.3M
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $20.8M+7.2% $19.4M-31.6% $28.4M+53.9% $18.5M-6.1% $19.7M+16.1% $16.9M+5.5% $16.1M+17.7% $13.6M
Goodwill $83.9M+5.9% $79.2M0.0% $79.2M+6.0% $74.7M0.0% $74.7M0.0% $74.7M+8.8% $68.7M+1.5% $67.7M
Total Liabilities $1.4B+0.5% $1.4B+2.1% $1.4B-1.2% $1.4B+1.4% $1.4B+49.3% $932.2M+4.8% $889.4M+5.0% $846.6M
Current Liabilities $82.0M+3.8% $79.0M+10.3% $71.6M-21.3% $91.0M+4.1% $87.4M-26.5% $118.9M+40.6% $84.5M+7.2% $78.8M
Long-Term Debt $1.2B+0.1% $1.2B+0.1% $1.2B+0.1% $1.2B+0.1% $1.2B+69.0% $713.7M+0.1% $713.3M+0.1% $712.8M
Total Equity -$736.8M-4.9% -$702.6M-2.4% -$686.0M+4.1% -$715.0M-5.8% -$675.6M-51.0% -$447.5M-2.3% -$437.5M-0.7% -$434.4M
Retained Earnings -$744.9M-5.0% -$709.7M-1.7% -$697.6M+3.0% -$719.3M-6.3% -$676.9M-50.7% -$449.3M-2.3% -$439.3M-0.9% -$435.2M

WING Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $57.3M-10.3% $63.9M+870.4% $6.6M-74.0% $25.3M+226.7% $7.7M-88.8% $69.0M+90.8% $36.2M-19.0% $44.7M
Capital Expenditures $22.8M+928.8% $2.2M-84.5% $14.4M+79.0% $8.0M-50.9% $16.4M+15.9% $14.1M+37.0% $10.3M-7.7% $11.2M
Free Cash Flow $34.5M-44.1% $61.7M+892.8% -$7.8M-145.0% $17.3M+300.6% -$8.6M-115.7% $54.9M+112.2% $25.9M-22.8% $33.5M
Investing Cash Flow -$32.2M-1348.2% -$2.2M+90.6% -$23.6M-158.2% $40.5M+427.8% -$12.4M+50.3% -$24.9M-83.0% -$13.6M-16.6% -$11.7M
Financing Cash Flow -$69.3M-43.7% -$48.2M-452.2% -$8.7M+93.8% -$140.4M-160.3% $233.1M+640.4% -$43.1M-21.3% -$35.5M-269.7% -$9.6M
Dividends Paid $8.4M-0.2% $8.4M+10.4% $7.6M-5.7% $8.0M+2.0% $7.9M-0.2% $7.9M+22.1% $6.5M-2.0% $6.6M
Share Buybacks $61.1M+52.9% $40.0M $0-100.0% $120.8M-51.8% $250.5M+615.8% $35.0M+19.7% $29.2M $0

WING Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 86.1%-0.1pp 86.2%+0.2pp 86.0%-0.7pp 86.7%+1.1pp 85.6%+0.6pp 85.0%-0.4pp 85.4%+0.0pp 85.4%
Operating Margin 26.7%-1.2pp 27.9%+1.9pp 25.9%+3.6pp 22.4%-3.5pp 25.9%+1.4pp 24.5%-2.0pp 26.5%-2.8pp 29.3%
Net Margin 15.2%-1.0pp 16.2%+0.9pp 15.3%-38.6pp 53.9%+37.4pp 16.5%+0.7pp 15.8%-1.8pp 17.6%-2.1pp 19.7%
Return on Equity N/A N/A N/A N/A N/A N/A N/A N/A
Return on Assets 3.9%-0.1pp 4.0%+0.2pp 3.8%-9.5pp 13.2%+9.5pp 3.7%-1.6pp 5.3%-0.8pp 6.1%-0.9pp 7.0%
Current Ratio 3.26-0.8 4.05-0.3 4.37+0.8 3.56-1.0 4.52+3.1 1.40-0.5 1.93-0.2 2.17
Debt-to-Equity -1.64+0.1 -1.72+0.0 -1.76-0.1 -1.69+0.1 -1.79-0.2 -1.59+0.0 -1.63+0.0 -1.64
FCF Margin 19.6%-15.5pp 35.1%+39.5pp -4.5%-14.6pp 10.1%+15.4pp -5.3%-39.1pp 33.8%+17.2pp 16.6%-6.4pp 23.0%

Note: Shareholder equity is negative (-$736.8M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

Wingstop Inc (WING) reported $696.9M in total revenue for fiscal year 2025. This represents a 11.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Wingstop Inc (WING) revenue grew by 11.4% year-over-year, from $625.8M to $696.9M in fiscal year 2025.

Yes, Wingstop Inc (WING) reported a net income of $174.3M in fiscal year 2025, with a net profit margin of 25.0%.

Wingstop Inc (WING) reported diluted earnings per share of $6.21 for fiscal year 2025. This represents a 67.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Wingstop Inc (WING) had EBITDA of $204.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Wingstop Inc (WING) had $196.6M in cash and equivalents against $1.2B in long-term debt.

Wingstop Inc (WING) had a gross margin of 86.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Wingstop Inc (WING) had an operating margin of 25.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Wingstop Inc (WING) had a net profit margin of 25.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Wingstop Inc (WING) paid $1.14 per share in dividends during fiscal year 2025.

Wingstop Inc (WING) generated $105.6M in free cash flow during fiscal year 2025. This represents a -0.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Wingstop Inc (WING) generated $153.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Wingstop Inc (WING) had $693.4M in total assets as of fiscal year 2025, including both current and long-term assets.

Wingstop Inc (WING) invested $47.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Wingstop Inc (WING) spent $221.9M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Wingstop Inc (WING) had 28M shares outstanding as of fiscal year 2025.

Wingstop Inc (WING) had a current ratio of 3.26 as of fiscal year 2025, which is generally considered healthy.

Wingstop Inc (WING) had a debt-to-equity ratio of -1.64 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Wingstop Inc (WING) had a return on assets of 25.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Wingstop Inc (WING) has negative shareholder equity of -$736.8M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

Wingstop Inc (WING) has an Altman Z-Score of 2.73, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Wingstop Inc (WING) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Wingstop Inc (WING) has an earnings quality ratio of 0.88x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Wingstop Inc (WING) scores 64 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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