Filing Flows › Wingstop (WING) › Q3 2025
Wingstop (WING) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Wingstop (WING) reported revenue of $176M for the third quarter 2025 (Q3 2025), +8% from a year earlier and +0.8% from the quarter before. Operating margin was 27.9%, net earnings $28.5M (16.2% of revenue).
Wingstop, Q3 2025: revenue $176M (+8% year over year), operating margin 27.9%, net earnings $28.5M, operating cash flow $63.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $176M | +0.8% | +8% |
| Operating profit | $49.0M | +8% | +23% |
| Net earnings | $28.5M | +6% | +11% |
| Operating cash flow | $63.9M | +870% | -7% |
| Free cash flow | $61.7M | — | +12% |
What changed
Revenue was $175.7M in Q3 2025, up 8% year over year and up 1% from the previous quarter. Royalty revenue, franchise fees and other was the largest line at 46% of revenue. Royalty revenue, franchise fees and other added $6.8M year over year (up 9%), 51% of the total change.
Operating profit was $49.0M, a 27.9% margin (up 3.4 points year over year). Of the extra revenue versus a year earlier, 69% reached operating profit, above the 25% margin then. Total costs grew 3% against revenue growth of 8%. Net earnings were $28.5M, up 11% year over year. The effective tax rate was 28.1%.
Operating cash flow was $63.9M (down 7% year over year), 224% of net earnings. Non-cash charges added back $6.2M of depreciation and amortization and $6.1M of share-based compensation. Working capital and other items added $23.1M. Capital expenditures of $2.2M left free cash flow of $61.7M.
Questions
What was Wingstop's revenue in the third quarter 2025?
Wingstop (WING) reported revenue of $176M for the third quarter 2025 (Q3 2025), +8% from a year earlier and +0.8% from the quarter before.
Was Wingstop profitable in the third quarter 2025?
Operating profit was $49.0M (27.9% of revenue) and net earnings $28.5M.
Source: Wingstop 10-Q on SEC EDGAR.