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Wingstop (WING) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Wingstop (WING) Q3 2026 earnings results →
Q3 2026 Revenue up 5% year over year to $185M · 16¢ of every $1 of revenue kept as net profit · operating margin 27.4%
Wingstop made $185M in Q3 2026 (+5% Y/Y): Royalty revenue, franchise fees and other $86.3M, Advertising fees $64.0M, Company-owned restaurant sales $34.8M. Operating margin 27.4%, net earnings $29.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
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What changed this quarter
Revenue was $185.1M in Q3 2026, up 5% year over year and roughly flat from the previous quarter. Royalty revenue was the largest line at 42% of revenue. Royalty revenue added $4.4M year over year (up 6%), 47% of the total change.
Operating profit was $50.7M, a 27.4% margin (down 0.5 points year over year). Of the extra revenue versus Q3 2025, 18% reached operating profit, below the 28% margin then. Total costs grew 6% against revenue growth of 5%. The fastest-growing cost line was Cost of revenue (+12%). Net earnings were $29.1M, up 2% year over year. The effective tax rate was 27.3%.
Operating cash flow was $61.3M (down 4% year over year), 211% of net earnings. Non-cash charges added back $9.0M of depreciation and amortization and $4.1M of share-based compensation. Working capital and other items added $19.1M. Capital expenditures of $11.6M left free cash flow of $49.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $185M | +5% | 27.4% | $29.1M | $61.3M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $186M | +6% | 29.4% | $31.3M | $6.9M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $184M | +7% | 27.4% | $29.9M | $61.4M |
| Q4 2025 | 10-K | Feb 18, 2026 | $176M | +9% | 26.7% | $26.8M | $57.3M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $176M | +8% | 27.9% | $28.5M | $63.9M |
| Q2 2025 | 10-Q | Jul 30, 2025 | $174M | +12% | 25.9% | $26.8M | $6.6M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $171M | +17% | 22.4% | $92.3M | $25.3M |
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About Wingstop
Founded in 1994 and headquartered in Dallas, TX, Wingstop Inc. (NASDAQ: WING) operates and franchises more than 3,000 restaurants worldwide, with approximately 98% of the total restaurant count owned by brand partners. Generating over $5 billion in system-wide sales in fiscal 2025, Wingstop offers made-to-order, always fresh classic and boneless wings, tenders, and chicken sandwiches in 12 bold, distinctive flavors, alongside signature sides and iconic housemade ranch and bleu cheese dips. Dedicated to Serving the World Flavor, Wingstop is the Official Chicken Partner of the NBA with a vision to become a Top 10 Global Restaurant Brand.
In its own words, from its 8-K, filed Jul 29, 2026.
Wingstop against its Retail-Eating Places peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +5% against the peers' median +5%. Operating margin: 27.4% against the peers' median 13.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| WING Wingstop | Q3 2026 | $185M | +5% | 27.4% |
| MCD McDonald's | Q3 2026 | $7.2B | +1% | 50.2% |
| ARMK Aramark | Q3 FY26 | $5.1B | +9% | 4.3% |
| YUMC Yum China Holdings | Q3 2026 | $3.5B | +8% | 13.0% |
| CMG Chipotle Mexican Grill | Q3 2026 | $3.3B | +10% | 13.7% |
| DRI Darden Restaurants | Q1 FY27 | $3.2B | +5% | 10.0% |
| QSR Restaurant Brands International | Q3 2026 | $2.5B | +3% | 27.6% |
| YUM Yum Brands | Q3 2026 | $2.1B | +4% | 112.8% |
| TXRH Texas Roadhouse | Q3 2026 | $1.6B | +10% | 6.5% |
Source: Wingstop 10-Q on SEC EDGAR · CIK 1636222 · Retail-Eating Places
13F: who owns WING and who is buying
More on WING
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results