Filing Flows › Wingstop (WING) › How it makes money
How Wingstop (WING) makes money
Wingstop (WING) made $185M of revenue in the third quarter 2026 (Q3 2026), +5% from a year earlier. Royalty revenue, franchise fees and other brought in $86.3M (47%); Advertising fees brought in $64.0M (35%); Company-owned restaurant sales brought in $34.8M (19%). Of every dollar of revenue, 27¢ was left as operating profit, 16¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Royalty revenue, franchise fees and other | $86.3M | 46.6% | -0.6% | +6% |
| ↳ Royalty revenue | $78.3M | 42.3% | -0.4% | +6% |
| ↳ Franchise fees and other | $8.0M | 4.3% | -3% | +10% |
| Advertising fees | $64.0M | 34.6% | -0.8% | +3% |
| Company-owned restaurant sales | $34.8M | 18.8% | +2% | +7% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $185M | 100.0% |
| Operating profit | $50.7M | 27.4% |
| Income tax | $10.9M | 5.9% |
| Net earnings | $29.1M | 15.7% |
| Operating cash flow | $61.3M | 33.1% |
| Free cash flow | $49.7M | 26.9% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $185M | +5% |
| Q2 2026 | $186M | +6% |
| Q1 2026 | $184M | +7% |
| Q4 2025 | $176M | +9% |
| Q3 2025 | $176M | +8% |
| Q2 2025 | $174M | +12% |
| Q1 2025 | $171M | +17% |
From Wingstop's 10-Q filed Oct 28, 2026 (on EDGAR).
Questions
How does Wingstop make money?
Wingstop (WING) made $185M of revenue in the third quarter 2026 (Q3 2026), +5% from a year earlier. Royalty revenue, franchise fees and other brought in $86.3M (47%); Advertising fees brought in $64.0M (35%); Company-owned restaurant sales brought in $34.8M (19%). Of every dollar of revenue, 27¢ was left as operating profit, 16¢ was left as net earnings.
What is Wingstop's biggest business?
Royalty revenue, franchise fees and other: $86.3M in the third quarter 2026, 47% of revenue, +6% from a year earlier.
What is Wingstop's profit margin?
Net earnings were $29.1M, 15.7% of revenue, in the third quarter 2026; the operating margin was 27.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.