FoodBud
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RankingsInsightsMixue SeriesArchiveMethodologyDataSearch中文
FoodBud

Global foodservice chain intelligence. Every figure should link back to a source.

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Company card

Wingstop

Medium
Brand

Nasdaq WING · US

Listing status
listed
Operating model
Franchise / master franchise
Scale basis
GMV / system sales
Confidence
Medium
Segment
qsr chicken

SEC first pass gives a useful denominator, but direct/franchise and system sales still need 10-K business-section parsing.

Scale basis note

Terminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.

Compare this operator
Every number has a source row

Metrics below keep source tier, quality, period, and source link visible at the metric level.

Source tiers
S1Official primary — filings, annual reports, prospectuses
S2Official secondary — IR decks, transcripts
S3Supplementary — vetted media, databases
S0Not usable — flagged, never published

Source tiers — S1 official primary · S2 official secondary · S3 supplementary · S0 not usable. Open “Provenance” on any number for its tier, basis, precision, and do-not-use note.

GMV is not revenue

GMV/system sales, revenue, and royalty pool sales are separate scale bases. Screening proxies are directional only.

MetricValuePeriod / basisQualitySource
Stores
Reported restaurant, coffee shop, tea shop, bakery, or comparable chain units.
3,056 stores
FY2025 (period ending Dec 27, 2025): As of December 27, 2025, there were 3,056 Wingstop restaurants system-wide.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · As of December 27, 2025, there were 3,056 Wingstop restaurants system-wide.
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Scale
Terminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.
$5.3B
FY2025 (52 weeks ended Dec 27, 2025): System-wide sales increased 12.1% vs. 2024 to $5.3 billion
GMV / system salesTerminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · System-wide sales increased 12.1% vs. 2024 to $5.3 billion
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Basis: GMV / system sales
Precision: Source-backed
Scale per store
Screening proxy: scale divided by store count. It is not audited AUV or unit profit.
$1.73M
Screening proxy
Derived scale_per_store using scale ÷ store_count at the linked scale basis; not a separately reported company metric.
GMV / system salesTerminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.
Source-backed
S1 official primary (opens in new tab)
Operator Metric Source · Source used for operator metric extraction.
Provenance
Tier: S1 official primary
Source: Operator Metric Source
Basis: GMV / system sales
Precision: Derived
Profit signal
Profit signal from the source period. Read with local accounting and segment mix in mind.
$174.27M
FY2025 (52 weeks ended Dec 27, 2025): Net income increased 60.3% vs. 2024 to $174.3 million, or $6.21 per diluted share
Profit-positiveScale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · Net income increased 60.3% vs. 2024 to $174.3 million, or $6.21 per diluted share
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Basis: Profit-positive
Revenue
Source-backed operating metric from the locked research snapshot.
$696.85M
USD 697M revenue (Revenues)
Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
Source-backed
S1 official primary (opens in new tab)
Operator Metric Source · Source used for operator metric extraction.
Provenance
Tier: S1 official primary
Source: Operator Metric Source
Basis: Revenue proxy
Precision: Source-backed

Market data (listed companies)

Market valuation · fluctuates · not operational scale · do not compare with GMV / system sales. Listed companies only.

MetricValuePeriod / basisQualitySource
Market cap
Public market capitalization captured in the locked source snapshot.
$3.82B
May 22, 2026 (closest available: May 25, 2026): Stock Price: $140.41 (closing price); Market Capitalization: $3.82 billion (May 25, 2026)
Market cap (USD)Scale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S3 supplementary (opens in new tab)
Media Or Aggregator · Stock Price: $140.41 (closing price); Market Capitalization: $3.82 billion (May 25, 2026)
Provenance
Tier: S3 supplementary
Source: Media Or Aggregator
Basis: Market cap (USD)
Precision: Market snapshot · not operational scale
⚠ Do not use for: Market valuation · not operational scale · never compare with GMV/system sales

Operator profile

14/19 source-backed

Classification, firmographics, ownership and operating dimensions — source-backed where disclosed, marked as a gap (never inferred) where not.

Format & positioning
Cuisine (primary)
chickenS3 supplementary (opens in new tab)
Cuisine (secondary)
not disclosed
Service model
fast casualtier3_reference (opens in new tab)
Price tier
valuetertiary (opens in new tab)
Company
Founded
1,994secondary (opens in new tab)
HQ country
United Statesaggregator (opens in new tab)
CEO
Michael Skipworthregulatory (opens in new tab)
Employees
1,367 headcountregulatory (opens in new tab)
Ownership
Parent
Independent / public-standalone (Wingstop Inc.; no corporate parent; widely held, Nasdaq:WING). Former PE owner Roark Capital exited years agoencyclopedic (opens in new tab)
PE / holding
not disclosed
Recent M&A
not disclosed
Growth
System sales YoY
12.1%S1 official primary (opens in new tab)
Revenue YoY
11.4%S1 official primary (opens in new tab)
Net new units
493 unitsS1 official primary (opens in new tab)
Pricing & digital
Avg check
not disclosed
Digital sales
73.2%S3 supplementary (opens in new tab)
Franchise terms
Royalty
6%FDD-summary (opens in new tab)
Franchise fee
$25,000FDD-summary (opens in new tab)
By-market footprint
International franchised incl. U.S. territories
470 stores◑derivedS1 official primary (opens in new tab)
United States (domestic)
2,586 stores◑derivedS1 official primary (opens in new tab)

Store counts by market/region — footprint context, not a same-basis comparison.

Disclosed store model

disclosed8/8 source-backed

Company-operated vs franchised footprint, AUV and store-level economics — taken verbatim from each operator's own filing, never inferred. A separate axis from company scale and single-store economics.

Total stores
2,563 stores
FY2024, as of December 28, 2024 (fiscal year ended December 28, 2024)
Source-backedS1 official primary (opens in new tab)
Company-operated
50 stores
FY2024, as of December 28, 2024
Source-backedS1 official primary (opens in new tab)
Franchised
2,513 stores
FY2024, as of December 28, 2024 (2,154 domestic franchised + 359 international franchised)
Source-backedS1 official primary (opens in new tab)
System sales
$5M
FY2024 ($ in thousands = $4,765.233 million; ~$4.8 billion)
Source-backedS1 official primary (opens in new tab)
AUV — average unit volume
2,138 USD
FY2024 (Domestic AUV, $ in thousands = $2.138 million)
Source-backedS1 official primary (opens in new tab)
Store-level margin
76.5%
FY2024 (total cost of sales as a % of company-owned restaurant sales; NOT a profit-margin line, reported as a cost ratio)
Source-backedS1 official primary (opens in new tab)
New units opened
355 stores
FY2024 gross openings (net new unit growth was 349)
Source-backedS1 official primary (opens in new tab)
Net refranchised
-3 stores
FY2024 (fiscal year ended December 28, 2024)
Source-backedS1 official primary (opens in new tab)

Single-store model

7/8 source-backed

Unit economics are a separate axis from company-level scale — never read as the same number. Each field keeps its source, period, and quality; derived/estimated rows and gaps are marked.

AUV / unit sales
Sales only; not franchisee EBITDA.
2025 FDD Item 19 average annual sales USD2.128m; median USD2.002m for 1,759 franchised US restaurants open for the entire 2024 measured period. SEC FY2025 domestic AUV is about USD2.0m.
2024 FDD measured period / FY2025 SEC context
Source-backedS1 official primary (opens in new tab)
Single-store profit
Do not read franchisor adjusted EBITDA as franchisee store EBITDA.
—
2025 FDD / FY2025 SEC
GapS1 official primary (opens in new tab)
Initial investment
Excludes real estate purchase and lease costs.
Standard restaurant estimated initial investment range USD298.2k-USD1.0135m; midpoint USD655.85k.
2025 FDD
Source-backedS1 official primary (opens in new tab)
Franchise fee / royalty
Ad fund path kept with verification note from prior extraction.
Initial franchise fee USD25k; royalty 6% of gross sales; public extraction records 5.5% national advertising / brand fund path to verify by Item 6.
2025 FDD
Source-backedS1 official primary (opens in new tab)
Payback period
Ignores food cost volatility, labor, occupancy, royalty, ad fund, debt and owner salary.
Average annual sales divided by Item 7 midpoint is 3.25x; no public payback-period distribution was found in this pilot.
2024 FDD measured period / 2025 FDD investment
EstimatedS1 official primary (opens in new tab)
Same-store sales
Company-owned domestic comp diverged from systemwide domestic comp.
FY2025 domestic same store sales decreased 3.3%; company-owned domestic same store sales increased 2.6%.
FY2025
Source-backedS1 official primary (opens in new tab)
Store open / close
This is SEC restaurant-count movement, not the FDD Item 20 transfer table.
Domestic franchised units moved from 2,154 to 2,529 in FY2025, with 384 openings, 4 closures and net 5 sold by franchisees to company-owned; systemwide net openings were 493 and count rose 19.2%.
FY2025
Source-backedS1 official primary (opens in new tab)
Company-operated share
Franchisee economics still need store-level profit evidence.
At 2025-12-27, Wingstop had 3,056 restaurants: 57 domestic company-owned, 2,529 domestic franchised and 470 international franchised; approximately 98% franchised.
2025-12-27
Source-backedS1 official primary (opens in new tab)

Cost structure

3/6 source-backed

Where each revenue dollar goes, latest disclosed year. Slices use each operator's reported base — % of revenue unless the row notes otherwise (% of GMV, restaurant-level, franchise goods-supply COGS). Grey = not separately disclosed. This is a separate axis from company scale and single-store economics.

Food / COGS36.2%
FY2024S1 official primary (opens in new tab)Source-backed
~98% franchised; small co-owned base. Food 36.2/labor 23.6 of co-owned sales -> rest margin 23.5%. Group op margin 26.5%.
Labor23.6%
FY2024S1 official primary (opens in new tab)Source-backed
~98% franchised; small co-owned base. Food 36.2/labor 23.6 of co-owned sales -> rest margin 23.5%. Group op margin 26.5%.
Rent / occupancy—
FY2024Gap
~98% franchised; small co-owned base. Food 36.2/labor 23.6 of co-owned sales -> rest margin 23.5%. Group op margin 26.5%.
Delivery commission—
FY2024Gap
~98% franchised; small co-owned base. Food 36.2/labor 23.6 of co-owned sales -> rest margin 23.5%. Group op margin 26.5%.
Marketing—
FY2024Gap
~98% franchised; small co-owned base. Food 36.2/labor 23.6 of co-owned sales -> rest margin 23.5%. Group op margin 26.5%.
Operating margin23.5%
FY2024· restaurant_levelS1 official primary (opens in new tab)Source-backed
~98% franchised; small co-owned base. Food 36.2/labor 23.6 of co-owned sales -> rest margin 23.5%. Group op margin 26.5%.
Not separately disclosed16.7%

Supply chain

1 suppliers · 0 with S1 filing

Who supplies this brand — reverse-extracted from each supplier's own filing (top-customer / related-party disclosure). The % is the supplier's revenue share from this brand (supplier-side, not procurement spend), unless a note says otherwise. Each edge keeps its period, source tier, and audit link; named relationships without a disclosed % are shown as such.

OloOLO
Tech / SaaS
digital ordering
discloses as: Wingstop
FY2023 / transition to 20243%S3 newssource (opens in new tab)

Peers in this segment

El Pollo LocoGMV / system salesCollins Foods LimitedRevenue proxyChick-fil-AGMV / system sales

Same segment — each operator keeps its own scale basis; this is navigation, not a like-for-like comparison.