WING Financials Wingstop Inc.

13 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Oct 31, 2026, 11:16 UTC Overview →

Growth & profitability

Revenue has grown 22.9% per year over the past 5 years.
Net income has grown faster than revenue (49.5% vs 22.9% per year).
Operating margin has expanded, at 25.7% in the latest year.
Free cash flow has grown 12.2% per year over the past 5 years.

Financial health

Total debt ($1.2B) exceeds cash ($197M); net debt is $1.0B.
Total debt has grown in line with revenue (20.8% vs 22.9% per year).
Total debt is 5.9× EBITDA.

Shareholder returns

Dividends have been paid for 11 consecutive years, consuming 18.6% of earnings and 30.7% of free cash flow.
The dividend has declined 27.7% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$697M	$174M	0.0%	25.7%	-23.7%	25.1%	$106M	$1.2B	$197M
2024	$626M	$109M	85.4%	26.5%	-16.1%	15.2%	$106M	$1.2B	$316M
2023	$460M	$70M	84.6%	24.5%	-15.3%	18.6%	$81M	$712M	$90M
2022	$358M	$53M	82.3%	25.7%	-13.5%	12.5%	$52M	$714M	$184M
2021	$283M	$43M	79.7%	26.1%	-13.8%	17.1%	$21M	$469M	$49M
2020	$249M	$23M	80.5%	23.1%	-6.8%	11.0%	$59M	$471M	$41M
2019	$200M	$20M	79.4%	21.5%	-9.8%	12.3%	$16M	$311M	$13M
2018	$153M	$22M	79.1%	25.2%	-9.7%	15.5%	$35M	$320M	$12M
2017	$133M	$24M	78.4%	25.4%	-41.0%	20.0%	$25M	$134M	$4M
2016	$103M	$14M	75.5%	25.8%	-16.9%	12.3%	$20M	$151M	$4M
2015	—	$10M	—	—	-68.2%	8.4%	$12M	$96M	$11M
2014	—	$9M	—	—	-99.9%	7.6%	$13M	$94M	$10M
2013	—	$8M	—	—	-37.2%	—	$9M	—	$3M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$185M	$29M	0.0%	27.4%	-3.8%	4.2%	$50M	$1.2B	$105M
Jun '26	$186M	$31M	0.0%	29.4%	-4.0%	4.8%	-$11M	$1.2B	$127M
Mar '26	$184M	$30M	0.0%	27.4%	-3.7%	4.6%	$44M	$1.2B	$129M
Dec '25	$176M	$27M	0.0%	26.7%	-3.6%	3.9%	$34M	$1.2B	$197M
Sep '25	$176M	$28M	0.0%	27.9%	-4.1%	3.9%	$62M	$1.2B	$238M
Jun '25	$174M	$27M	0.0%	25.9%	-3.9%	3.8%	-$8M	$1.2B	$228M
Mar '25	$171M	$92M	0.0%	22.4%	-12.9%	13.2%	$17M	$1.2B	$251M
Dec '24	$162M	$27M	85.6%	25.9%	-4.0%	3.7%	-$9M	$1.2B	$316M
Sep '24	$162M	$26M	85.0%	24.5%	-5.8%	5.3%	$55M	$714M	$84M
Jun '24	$156M	$27M	85.4%	26.5%	-6.3%	6.1%	$26M	$713M	$97M
Mar '24	$146M	$29M	85.4%	29.3%	-6.6%	7.0%	$34M	$713M	$108M
Dec '23	$127M	$19M	84.5%	23.5%	-4.1%	5.0%	$25M	$712M	$90M
Sep '23	$117M	$20M	85.0%	26.2%	-4.1%	5.5%	$24M	$712M	$78M
Jul '23	$107M	$16M	84.5%	24.7%	-4.4%	3.6%	-$414000	$711M	$189M
Apr '23	$109M	$16M	84.6%	23.6%	-4.1%	3.5%	$31M	$713M	$196M
Dec '22	$105M	$18M	83.7%	27.5%	-4.5%	4.1%	$18M	$714M	$184M
Sep '22	$93M	$13M	83.0%	26.0%	-3.3%	3.3%	$17M	$715M	$174M
Jun '22	$84M	$13M	82.2%	26.7%	-3.2%	3.4%	$3M	$716M	$166M
Mar '22	$76M	$9M	79.4%	21.8%	-2.0%	1.7%	$14M	$716M	$287M
Dec '21	$72M	$7M	79.6%	19.7%	-2.2%	2.8%	-$17M	$469M	$49M

Valuation over time

How the market has priced WING against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 93.8× (Mar '23) to 25.3× (Nov '26).
The price-to-sales ratio has fallen from 13.9× (Mar '23) to 6.3× (Nov '26).
The dividend yield has fallen from 2.8% (Mar '23) to 0.7% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is WING growing its revenue and profit?

Over the past 5 years, Wingstop Inc.'s revenue has grown 22.9% per year, and net income grown 49.5% per year. These are computed facts, not advice.

How much debt does WING have?

As of FY2025, Wingstop Inc. reported $1.2B of total debt against $197M of cash.

What is WING's profit margin?

In FY2025, gross margin was —, operating margin 25.7%, and net margin 25.0%.

What is WING's P/E ratio?

Wingstop Inc.'s P/E (TTM) is 37.67 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the WING stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 25.3× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.