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Wingstop cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$49.7M in Q3 2026 · $117M over twelve months

Operating cash flow$61.3M
Capital spending−$11.6M
Free cash flow+$49.7M
Cash / net income2.1×
Cash conversion cycle-34 days

Analysis

In Q3 2026, Wingstop generated $61.3M of operating cash flow and spent $11.6M on capital projects, leaving free cash flow of $49.7M.

Over the twelve months to Sep 26, 2026, operating cash flow was $187M; the largest uses were buybacks ($165M), capital spending ($70.4M), acquisitions ($41.3M); besides operations, cash came from shares issued ($880K); the cash balance fell by $131M.

Operating cash flow was $61.3M against net income of $29.1M — 2.1× profit, cash ran ahead of reported earnings. The largest differences: payables +$20.3M, depreciation & amortization +$9.0M, receivables −$7.6M.

Its cash conversion cycle was -34 days (receivables 14 + inventory 0 − payables 48): suppliers fund its working capital.

Free cash flow

Wingstop: free cash flow by quarterWingstop: free cash flow by quarter−$8.6MQ4 2024$17.3MQ1 2025−$7.8MQ2 2025$61.7MQ3 2025$34.5MQ4 2025$43.7MQ1 2026−$11.3MQ2 2026$49.7MQ3 2026
Operating cash flow less capital spending.
Wingstop: operating cash flow against capital spendingWingstop: operating cash flow against capital spendingOperating cash flowCapital spending$7.7M$16.4MQ4 2024$25.3M$8.0MQ1 2025$6.6M$14.4MQ2 2025$63.9M$2.2MQ3 2025$57.3M$22.8MQ4 2025$61.4M$17.7MQ1 2026$6.9M$18.2MQ2 2026$61.3M$11.6MQ3 2026
Latest (Q3 2026): Operating cash flow $61.3M, Capital spending $11.6M.

Capital allocation, year by year

Wingstop: where the cash came from (up) and went (down), by fiscal yearWingstop: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $48.9MFY2021: Net borrowing −$2.4MFY2021: Shares issued $748KFY2021: Asset sales $7.2MFY2021: Capital spending −$28.0MFY2021: Acquisitions −$4.9MFY2021: Dividends −$19.8M$56.8MFY2021FY2022: Operating cash flow $76.2MFY2022: Net borrowing $247MFY2022: Shares issued $3.3MFY2022: Capital spending −$23.9MFY2022: Acquisitions −$7.8MFY2022: Dividends −$141M$327MFY2022FY2023: Operating cash flow $122MFY2023: Net borrowing −$3.6MFY2023: Shares issued $951KFY2023: Capital spending −$40.8MFY2023: Acquisitions −$10.8MFY2023: Buybacks −$125MFY2023: Dividends −$24.9M$123MFY2023FY2024: Operating cash flow $158MFY2024: Net borrowing $500MFY2024: Shares issued $1.6MFY2024: Asset sales $4.0MFY2024: Capital spending −$51.9MFY2024: Acquisitions −$14.0MFY2024: Buybacks −$315MFY2024: Dividends −$28.9M$663MFY2024FY2025: Operating cash flow $153MFY2025: Shares issued $1.4MFY2025: Capital spending −$47.4MFY2025: Acquisitions −$18.5MFY2025: Buybacks −$222MFY2025: Dividends −$32.4M$154MFY2025
Over these 5 years operating cash flow totalled $557M; the largest uses were buybacks ($662M) and dividends ($247M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$105M
Debt$1.2B
Net debt$1.1B

Wingstop funds itself: free cash flow was $117M over the last twelve months, and $105M of cash and investments stands against $1.2B of debt.

Wingstop: debt maturities by year (FY2025)Wingstop: debt maturities by year (FY2025)$473MYear 2$248MYear 4$500MAfter year 5
Principal due in each year as disclosed in the annual report, against $105M of cash and investments now.

Where the cash came from and went

Wingstop: sources (+) and uses (−) of cash, Q3 2026Wingstop: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$61.3MAcquisitions−$32.0MBuybacks−$25.2MCash drawn (+) / kept (−)$16.2MCapital spending−$11.6MDividends−$8.9MShares issued$277KTaxes on employees’ shares−$54K
Wingstop: sources (+) and uses (−) of cash, TTM to Q3 2026Wingstop: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$187MBuybacks−$165MCash drawn (+) / kept (−)$131MCapital spending−$70.4MAcquisitions−$41.3MDividends−$34.0MTaxes on employees’ shares−$8.7MShares issued$880K

From profit to cash

Wingstop: net income to operating cash flow, Q3 2026Wingstop: net income to operating cash flow, Q3 2026Net income$29.1MDepreciation & amortization$9.0MStock-based pay$4.1MDeferred taxes$1.8MReceivables−$7.6MPayables$20.3MDeferred revenue$1.5MPrepaid and other assets$762KOther liabilities−$2.6MOperating cash flow$61.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202614—48-34
Q2 202612—36-24
Q1 202611—41-30

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$61.3M−$11.6M−$32.0M−$25.2M−$8.9M$277K$16.2M$49.7M
Q2 2026$6.9M−$18.2M——−$8.2M—$19.2M−$11.3M
Q1 2026$61.4M−$17.7M—−$78.5M−$8.5M—$51.8M$43.7M
Q4 2025$57.3M−$22.8M−$9.3M−$61.1M−$8.4M$249K$44.2M$34.5M
Q3 2025$63.9M−$2.2M—−$40.0M−$8.4M$263K−$13.4M$61.7M
Q2 2025$6.6M−$14.4M——−$7.6M$855K$25.7M−$7.8M
Q1 2025$25.3M−$8.0M—−$121M−$8.0M—$74.6M$17.3M
Q4 2024$7.7M−$16.4M—−$250M−$7.9M$303K−$228M−$8.6M

Wingstop: income statement and cash flow

Wingstop, Q3 2026: revenue $185M (+5% year over year), operating margin 27.4%. The chart follows the revenue to costs, profit and cash.

Wingstop: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.