WINGNasdaqRetail-Eating PlacesUS GAAP · USD

Wingstop Inc.

Wingstop Inc. is a U.S.-based restaurant company focused on chicken wings, tenders, chicken sandwiches, and related sides and sauces. The business operates primarily through a franchised restaurant system across the United States and international markets, with a small company-owned restaurant base and a single reporting segment.

Kysy yhtiöstä
Liikevaihto697milj. USD
+11,4 %v/v
Liikevoitto (EBIT)179milj. USD
+8,3 %v/v
EBIT-marginaali25,7%
−0,7 %-yks.v/v
Nettotulos174milj. USD
+60,3 %v/v
Vapaa kassavirta106milj. USD
−0,1 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

0200400600800milj. USD2020: 249 milj. USD2020: EBIT 57 milj. USD20202021: 283 milj. USD2021: EBIT 74 milj. USD20212022: 358 milj. USD2022: EBIT 92 milj. USD20222023: 460 milj. USD2023: EBIT 113 milj. USD20232024: 626 milj. USD2024: EBIT 166 milj. USD20242025: 697 milj. USD2025: EBIT 179 milj. USD2025697179
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Wingstop Inc.

Liiketoiminta

Osuus liikevaihdosta
Franchise royalties and fees46 %

Fees charged to franchisees for the right to operate Wingstop restaurants and use the brand.

Advertising fund contributions36 %

Domestic franchisee contributions collected and used for national brand advertising and digital marketing.

Company-owned restaurant sales15 %

Food and beverage sales from the company-operated Wingstop restaurants.

Development and international territory fees3 %

Upfront fees from development agreements, international territory agreements, and renewals.

Tuotteet

Raportoitu · osuus liikevaihdosta
46,2%35,5%18,3%FY2025100 %
  • Royalty Franchise Fees and Other46,2 %
  • Advertising35,5 %
  • Franchisor Owned Outlet18,3 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Wingstop sells directly to end consumers through its restaurants, but its economic customers are primarily franchisees that pay royalties, advertising fees, and franchise-related fees. The company also serves a smaller base of guests at company-owned restaurants and supports franchise operators through training, supply-chain standards, and brand marketing. Internationally, the system is entirely franchised, so local franchise partners are the main counterparties in those markets.

Domestic franchisees

Operate U.S. restaurants and pay royalties, advertising fees, and franchise fees; they are the core economic customer base.

International franchisees

Operate franchised restaurants outside the U.S. and pay territory, development, and ongoing franchise-related fees.

End consumers

Buy cooked-to-order wings, tenders, sandwiches, sides, and dips from Wingstop restaurants.

Company-owned restaurant guests

Purchase food and beverages at the small company-operated store base used for operating and brand testing.

Strategia

Wingstop’s strategy centers on expanding its restaurant footprint, deepening brand awareness, and sustaining digital demand generation. The company emphasizes a highly franchised, asset-light model that supports capital-efficient growth, while using menu innovation, delivery, and data-driven marketing to drive guest frequency and franchisee economics.

Domestic unit expansionKeskipitkä aikaväli

More restaurants increase brand visibility and royalty base while preserving the franchised model.

International growthKeskipitkä aikaväli

International franchising extends the brand into new markets with limited capital intensity.

Digital and CRM-led demand generationLyhyt aikaväli

Digital channels help sustain traffic, brand awareness, and direct customer engagement.

Maantiede

Wingstop operates in the United States and in international markets through franchised restaurants, with 3,056 restaurants in the system as of year-end 2025. Its footprint spans 47 U.S. states plus 18 countries and U.S. territories, making the business dependent on both domestic brand strength and international franchise execution. The company also relies on a centralized U.S. supply chain and distribution network to support domestic restaurants.

Riskit

Wingstop is exposed to franchisee performance, supply-chain concentration, and cyber/payment-system risks because its model depends on a large franchised network and centralized ordering, reporting, and distribution infrastructure. The limited-menu chicken concept also increases sensitivity to chicken input availability and pricing, while international expansion adds execution and regulatory complexity across markets.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Supply chain concentration1Chicken input cost and availability2Cybersecurity and payment processing3Franchisee performance4International execution5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Supply chain concentrationVaikutus: KorkeaTodennäköisyys: Kohtalainen

    All U.S. food and packaging goods are sourced through one distributor, increasing disruption risk.

    Kohdistuu: Domestic restaurants and royalty stream

  2. Chicken input cost and availabilityVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Chicken is the largest product cost item and the menu is highly concentrated in chicken products.

    Kohdistuu: Company-owned restaurant margins and franchisee economics

  3. Cybersecurity and payment processingVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Digital ordering, payment systems, and franchise reporting are core operating systems.

    KohdistuuOperationsCustomer dataRoyalty collection
  4. Franchisee performanceVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Most revenue comes from royalties, advertising fees, and franchise-related payments.

    Kohdistuu: System sales and fee revenue

  5. International executionVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Growth outside the U.S. depends on local franchise partners, market adaptation, and regulatory compliance.

    Kohdistuu: International unit growth and brand consistency

Kysy Clarifolta: Wingstop Inc.

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition for franchise agreements

Franchise licenses, training, and ongoing services are combined into a single performance obligation over the contract term.

Vaikutus: Affects timing of royalty, franchise fee, and development fee recognition

Deferred revenue

Franchise, development, and territory fees received before openings are recorded as deferred revenue.

Vaikutus: Can shift revenue recognition into future periods

Advertising fund accounting

Domestic franchisees contribute 5.5% of gross sales to the Ad Fund, which is used for brand marketing.

Vaikutus: Affects revenue presentation and related advertising expense

Seasonality and quarterly comparability

Fiscal quarters are 13 weeks and restaurant openings can vary by period.

Vaikutus: Can create uneven revenue and expense patterns across quarters

Stock-based compensation and system implementation costs

These items are included in SG&A and can distort underlying operating trends.

Vaikutus: Affects comparability of reported operating expenses

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Päivitetty: 24.9.2026

Wingstop Inc. (WING) liikevaihto, tulos ja tunnusluvut 2025 – Clarifo