Wingstop Inc.
Financial Performance
Wingstop Revenue & Financials
Revenue
$696.9M (FY2025)
Net Income
$174.3M
Employees
1,173
What is Wingstop's revenue?
Wingstop had $696.9M in revenue for fiscal year 2025, up 11.4% from 2024. Net income was $174.3M.
- Latest revenue
- $696.9M (FY2025)
- Year-over-year
- +11.4%
- Growth rate (CAGR)
- 23.6% over 9 years
- Peak revenue
- $696.9M (FY2025)
- Years of data
- 10
- Employees
- 1,173
- What is Wingstop's operating income?
- Wingstop reported operating income of $179.3M for fiscal year 2025. sec.gov
- How much profit does Wingstop make?
- Wingstop reported net income of $174.3M for fiscal year 2025. ir.wingstop.com
- How many employees does Wingstop have?
- Wingstop has about 1,173 employees.
Financial Analysis
Revenue rose 11.4% to $696.9 million in fiscal 2025 (ended December 27, 2025). GAAP net income jumped 60.3% to $174.3 million, but that figure includes a one-time gain on the sale of Wingstop's minority stake in Lemon Pepper Holdings, its UK master franchisee; adjusted net income grew 3.8% to $114.5 million and adjusted EBITDA rose 15.2% to $244.2 million. In Q2 2026 (ended June 27, 2026) revenue grew 6.4% to $185.6 million and net income rose 16.9% to $31.3 million, as new restaurants offset a 7.5% drop in domestic same store sales. Wingstop Inc. is an incredibly fast-growing American multinational chain of aviation-themed restaurants specializing entirely in chicken wings, commanding a massive market valuation exceeding $10 billion.
Revenue Trend Analysis
YoY Change
+11.4%
9-Year CAGR
+23.6%
Peak Year
2025
Trend
Consistent Growth
Wingstop Inc. has 10 full fiscal year figures on this page, compounding at +23.6% annually over 9 years. The most recent year saw a 11.4% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $696.9M. Of 9 comparable year-over-year steps, 9 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2025 | $696.9M | $179.3Mfiling | $174.3M | +11.4% | Wingstop fiscal 2025 results release Fiscal year ended 2025-12-27. Revenue up 11.4%. Net income includes a one-time gain on the sale of the Lemon Pepper Holdings stake; adjusted net income was $114.5M. |
| FY2024 | $625.8M | $165.6Mfiling | $108.7M | +36.0% | Wingstop fiscal 2024 results release Fiscal year ended 2024-12-28. Revenue up 36.0%. |
| FY2023 | $460.1M | $112.6Mfiling | $70.2M | +28.7% | Wingstop Inc. Form 10-K, fiscal 2023 Fiscal year ended 2023-12-30. |
| FY2022 | $357.5M | $91.9Mfiling | $52.9M | +26.6% | Wingstop Inc. Form 10-K, fiscal 2022 Fiscal year ended 2022-12-31 (53 weeks). |
| FY2021 | $282.5M | $73.8Mfiling | $42.7M | +13.5% | Wingstop Inc. Form 10-K, fiscal 2021 Fiscal year ended 2021-12-25. |
| FY2020 | $248.8M | $57.4Mfiling | $23.3M | +24.6% | Wingstop Inc. Form 10-K, fiscal 2020 Fiscal year ended 2020-12-26. |
| FY2019 | $199.7M | $42.9Mfiling | $20.5M | +30.4% | Wingstop Inc. Form 10-K, fiscal 2019 Fiscal year ended 2019-12-28. |
| FY2018 | $153.2M | $38.5M | $21.7M | +14.9% | Wingstop Inc. annual report (Form 10-K, SEC EDGAR, filed 2021-02-18) Fiscal year ended 2018-12-29. |
| FY2017 | $133.3M | $33.9M | $23.9M | +29.0% | Wingstop Inc. annual report (Form 10-K, SEC EDGAR, filed 2020-02-19) Fiscal year ended 2017-12-30. |
| FY2016 | $103.3M | $26.6M | $13.8M | — | Wingstop Inc. annual report (Form 10-K, SEC EDGAR, filed 2019-02-27) Fiscal year ended 2016-12-31. |
Click any row to see year details.
Wingstop Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest. In some years total assets exceed liabilities plus shareholders' equity because the company reported redeemable preferred stock or non-controlling interests outside both.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2025ended Dec 27, 2025 | $153.1M | $47.4M | $693.4M | $1.4B | -$736.8M | $105.6M | Form 10-K |
| FY2024ended Dec 28, 2024 | $157.6M | $51.9M | $716.2M | $1.4B | -$675.6M | $105.7M | Form 10-K |
| FY2023ended Dec 30, 2023 | $121.6M | $40.8M | $377.8M | $835.2M | -$457.4M | $80.8M | Form 10-K |
| FY2022ended Dec 31, 2022 | $76.2M | $23.9M | $424.2M | $815.1M | -$390.9M | $52.3M | Form 10-K |
| FY2021ended Dec 25, 2021 | $48.9M | $28M | $249.2M | $558.7M | -$309.5M | $20.9M | Form 10-K |
| FY2020ended Dec 26, 2020 | $65.5M | $6.1M | $211.6M | $552.9M | -$341.3M | $59.5M | Form 10-K |
| FY2019ended Dec 28, 2019 | $38.6M | $22.5M | $166.1M | $375.5M | -$209.4M | $16.1M | Form 10-K |
| FY2018ended Dec 29, 2018 | $38.8M | $4M | $139.7M | $364.6M | -$224.8M | $34.8M | Form 10-K |
| FY2017ended Dec 30, 2017 | $27.4M | $2.5M | $119.8M | $178.3M | -$58.4M | $24.9M | Form 10-K |
| FY2016ended Dec 31, 2016 | $21.9M | $2.1M | $111.8M | $186.4M | -$81.4M | $19.8M | Form 10-K |
Keep researching Wingstop
Wingstop Revenue and Financial FAQ
What was Wingstop's total revenue in fiscal year 2025?
In fiscal year 2025, Wingstop generated $696.853 million in total corporate revenues, driven by massive domestic same-store sales growth, higher royalty fees, and hundreds of new restaurant openings.
What are Wingstop's system-wide sales?
Wingstop's total system-wide sales across all franchised and company-operated locations exceeded $4.0 billion, demonstrating tremendous consumer reach relative to its lean corporate balance sheet.
What are Wingstop's profit margins as a franchise company?
Because over 98% of locations are franchised, Wingstop achieves extraordinary corporate adjusted EBITDA margins approaching 30%–35%, and high free cash flow conversion.
What is Wingstop's domestic same-store sales performance track record?
Wingstop routinely delivers double-digit annual same-store sales growth (often exceeding 15% to 20%), outperforming virtually all peers in the quick-service and fast-casual restaurant sectors.
Does Wingstop pay a regular quarterly dividend?
Yes, Wingstop pays a regular quarterly cash dividend to shareholders and has periodically paid large special cash dividends funded through asset-backed securitization debt recapitalizations.
What is Wingstop's capital structure and debt strategy?
Wingstop utilizes an investment-grade whole-business securitization (WBS) debt structure, borrowing against future franchise royalties at low fixed interest rates to return capital to equity holders.
What is the cash-on-cash return for a Wingstop franchisee?
Due to high average unit volumes ($2.0M+) and modest initial buildout costs ($450K–$600K), Wingstop franchisees typically achieve cash-on-cash returns exceeding 50% to 70% within their first two years.
How do poultry wing spot market prices impact corporate profitability?
Because company-owned stores account for only ~2% of the network, wing commodity price swings primarily impact franchisee store margins rather than corporate franchise royalty revenue.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Wingstop Revenue & Financials." CorpDigest, https://corpdigest.com/company/wingstop/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Wingstop reported $696.9M in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/wingstop/financials" target="_blank" rel="noopener">CorpDigest — Wingstop financials</a></div>Related Financial Audits
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