FILING · MN · 2026 FDD
Wingstop FDD (Franchise Disclosure Document) — 2026
The FDD is the 23-item legal disclosure every U.S. franchisor must hand you at least 14 days before you sign or pay anything (FTC Franchise Rule, 16 CFR 436). Wingstop's most recent FDD tracked here is the 2026 FDD, a multistate filing. Registration-state filings are public records, so you can read it free, with no sign-up.
PUBLIC RECORD · FILED 2026 · SOURCE STATE MN
| ITEM 5 | Initial franchise fee | $25,000 |
| ITEM 6 | Ongoing royalty | 6.0% of gross sales |
| ITEM 7 | Total initial investment | $310K–$1.0M |
| ITEM 3 | Disclosed litigation matters | 2 |
| ITEM 19 | Earnings disclosure (FPR) | Yes — median unit volume $1.9M (population and period as defined in the filing's Item 19) |
| ITEM 20 | Outlets (fiscal 2025) | 2,529 franchised at year end · 4 exits (exit rate 0.2%, fiscal 2025) |
| ITEM 21 | Franchisor financial statements | Unmodified (clean) opinion — KPMG LLP |
The headline figure is average annual net sales for 52 weeks Dec 29, 2024 - Dec 27, 2025, for 2,171 of 2,586 outlets open at year end, leaving out opened during the 2025 Measured Period, temporarily closed for remodeling/repairs, permanently closed during the period and others. The mean is 6% above the median, so a minority of high-volume units pulls the average up. It shows no costs, so it says nothing about what an owner keeps.
Graded on three things the filing states: coverage (2 points if the figure covers at least 75% of the units it is compared with, 1 point for 50–75%), centre (2 points if it prints both a median and a mean, 1 for one of them), and costs (2 points for costs through a profit line or full cost detail, 1 for some cost items). 5–6 points = More complete, 3–4 = Partial, 0–2 = Limited. The grade describes the disclosure, not the business.
| What is measured | average annual net sales (net sales) |
| Period | 52 weeks Dec 29, 2024 - Dec 27, 2025 |
| Whose results | Franchised and company-owned outlets together |
| Units included | 2,171 of 2,586 outlets at the end of FY2025 (Item 20) |
| Left out |
|
| Average (mean) | $2.0M |
| Median | $1.9M |
| Mean vs median | mean 6.1% above median |
| Met or beat the average | 901 of 2,116 franchised (43%) and 34 of 55 WRI (62%) exceeded |
| Costs shown | None — sales only |
| Where | p. 65 (Item 19 runs pp. 64–66) |
| The filing's words | “The total number of Restaurants included in the average for the 2025 Measured Period was 2,171 (55 owned by WRI and 2,116 franchised).” |
KPMG LLP gave an unmodified (clean) opinion on the statements in the 2026 FDD; revenue rose 54% from FY2023 to FY2025.
Revenue · FY2025
$331.0M
p. 89 · matched to statement
Net income · FY2025
$325.1M
p. 89 · matched to statement
Where FY2025 revenue came from
91% royalties
2% initial / development fees
- Fiscal years covered: FY2023, FY2024, FY2025 (2026 FDD, statements from p. 89)
- Statements are for: WINGSTOP FRANCHISING LLC
- Parent / owner: not identified in the statements
| Fiscal year | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Total revenue | $214.5Mp. 89 · matched to statement | $297.5Mp. 89 · matched to statement | $331.0Mp. 89 · matched to statement |
| Royalty revenue | $192.3Mp. 89 · matched to statement | $266.9Mp. 89 · matched to statement | $300.3Mp. 89 · matched to statement |
| Initial / development feesline: Franchise fees | $5.0Mp. 89 | $6.0Mp. 89 | $6.3Mp. 89 |
| Net income (loss) | $211.2Mp. 89 · matched to statement | $293.1Mp. 89 · matched to statement | $325.1Mp. 89 · matched to statement |
| Equity (deficit) at year end | not extracted | $20.3Mp. 88 | $8.3Mp. 88 |
How to read this: royalties recur as long as franchisees trade; initial and development fees arrive only when new franchises are sold. A franchisor whose revenue leans on initial fees is funding itself by selling territories, and that revenue stops when sales slow. Under ASC 606 most franchisors recognize initial fees over the agreement term, so the line understates the cash collected in a strong selling year. Ad-fund revenue, where reported, is included in total revenue as the statements present it.
Each figure links to its page in the filed PDF. “Matched to statement” means our extraction and a second, rule-based read of the statement page agree; “extracted · not cross-checked” means the statement page is a scanned image or could not be read as text. Figures we could not place on a consistent scale are withheld, not guessed. Spotted an error? Report a correction.
Every figure above was extracted by software from the 2026 Wingstop FDD as filed (figures are not individually checked by a person) and links back to that document. Fields that could not be extracted are omitted; no figure here is estimated. Extraction errors are possible: the filing controls, and FDDs are reissued annually; verify against the current issuance before relying on any number. Spotted an error? Franchisors and owners can report it via the contact on our Terms page.
Wingstop FDD questions, answered
Where can I download the Wingstop FDD for free?
Wingstop's 2026 Franchise Disclosure Document is a public record. It can be downloaded free from the source link on this page — no broker form, no email signup required.
What year is Wingstop's most recent FDD on file?
The most recent Wingstop FDD tracked here is the 2026 FDD. Franchisors must update their FDD annually; confirm you are reading the current issuance before signing.
Does Wingstop's FDD disclose earnings (Item 19)?
Yes — Wingstop makes a financial performance representation in Item 19 of its 2026 FDD, reporting a median unit volume of $1.9M. Read the basis fine print: franchisors choose which units and metrics to include.
What does Wingstop's FDD Item 20 show?
In fiscal 2025, Wingstop ended with 2,529 franchised outlets; 4 of 2,154 open at the start of the year left the system (exit rate 0.2%, fiscal 2025) through terminations, non-renewals, and "ceased operations — other reasons".
The Wingstop validation checklist
questions built from this brand's own filings · read them all on the profile
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