Wingstop Inc. balance sheet
At the end of fiscal 2025, Wingstop Inc. had total assets of $693m, total liabilities of $1.43bn and shareholders' equity of −$737m. It held $197m in cash against $1.22bn of debt: net debt of $1.02bn.
Balance sheet
| Fiscal year | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 3 | 10 | 11 | 4 | 4 | 12 | 13 | 41 | 49 | 184 | 90 | 316 | 197 | 105 |
| Receivables | — | 2 | 3 | 3 | 5 | 6 | 5 | 5 | 7 | 9 | 12 | 20 | 21 | 33 |
| Inventory | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | — | — | — |
| Total current assets | — | 17 | 20 | 11 | 16 | 30 | 30 | 73 | 70 | 227 | 144 | 396 | 267 | 195 |
| Goodwill | 46 | 45 | 45 | 45 | 47 | 50 | 50 | 54 | 57 | 63 | 68 | 75 | 84 | 103 |
| Total assets | — | 119 | 121 | 112 | 120 | 140 | 166 | 212 | 249 | 424 | 378 | 716 | 693 | 687 |
| Accounts payable | — | 2 | 1 | 1 | 2 | 3 | 3 | 4 | 5 | 5 | 5 | 7 | 13 | 19 |
| Deferred revenue (current) | — | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 4 | 4 | 5 | 6 | 7 | — |
| Total current liabilities | — | 16 | 13 | 17 | 19 | 26 | 33 | 50 | 40 | 62 | 71 | 87 | 82 | 92 |
| Short-term debt | — | 5 | 0 | 4 | 4 | 2 | 3 | 4 | 0 | 7 | 0 | 0 | 0 | — |
| Long-term debt | — | 89 | 95 | 147 | 130 | 309 | 308 | 467 | 469 | 707 | 712 | 1,206 | 1,209 | 1,211 |
| Total debt | — | 94 | 96 | 151 | 134 | 320 | 318 | 480 | 478 | 725 | 721 | 1,221 | 1,221 | 1,211 |
| Total liabilities | — | 128 | 130 | 186 | 178 | 365 | 376 | 553 | 559 | 815 | 835 | 1,392 | 1,430 | 1,459 |
| Shareholders' equity | −20 | −9 | −15 | −81 | −58 | −225 | −209 | −341 | −310 | −391 | −457 | −676 | −737 | −773 |
| Non-controlling interests and other (assets − liabilities − equity) | — | — | 5 | 7 | — | — | — | — | — | — | — | — | — | — |
| Net debt (negative = net cash) | −3 | 84 | 85 | 148 | 130 | 308 | 305 | 439 | 429 | 540 | 631 | 905 | 1,024 | 1,107 |
| Shares outstanding | — | 26m | 29m | 29m | 29m | 29m | 29m | 30m | 30m | 30m | 29m | 29m | 28m | 27m |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Receivables | 20 | 18 | 28 | 19 | 21 | 24 | 25 | 33 |
| Total current assets | 396 | 324 | 313 | 320 | 267 | 217 | 208 | 195 |
| Goodwill | 75 | 75 | 79 | 79 | 84 | 84 | 84 | 103 |
| Total assets | 716 | 697 | 708 | 721 | 693 | 649 | 658 | 687 |
| Accounts payable | 7 | 8 | 3 | 11 | 13 | 9 | 10 | 19 |
| Deferred revenue (current) | 6 | — | — | — | 7 | — | — | — |
| Total current liabilities | 87 | 91 | 72 | 79 | 82 | 97 | 70 | 92 |
| Short-term debt | 0 | — | — | — | 0 | — | — | — |
| Long-term debt | 1,206 | 1,207 | 1,208 | 1,208 | 1,209 | 1,210 | 1,211 | 1,211 |
| Total debt | 1,206 | 1,207 | 1,208 | 1,208 | 1,209 | 1,210 | 1,211 | 1,211 |
| Total liabilities | 1,392 | 1,412 | 1,394 | 1,424 | 1,430 | 1,448 | 1,431 | 1,459 |
| Shareholders' equity | −676 | −715 | −686 | −703 | −737 | −799 | −773 | −773 |
| Shares outstanding | 29m | 28m | 28m | 28m | 28m | 27m | 27m | 27m |
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