Wingstop Inc.
- Open
- 107.00
- Day high
- 112.27
- Day low
- 106.76
- Prev close
- 109.48
- Volume
- 162K
- Mkt cap
- $3.1B
- P/E (TTM)
- 26.5
- EPS (TTM)
- $4.23
- P/B
- -4.0
- P/S
- 4.2
- Yield
- 0.83%
- Per share
- $0.93
Wingstop Inc. (WING) is a Consumer Cyclical company listed on NASDAQ. The stock is down 65% over the past year. Drillr has 1 published research article covering WING.
Wingstop Inc. (WING) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
WING earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 29, 2026 | $1.02 | $1.18 | +15.3% | $186M | -2.5% |
| Apr 29, 2026 | $1.02 | $1.18 | +15.5% | $184M | -2.3% |
| Feb 18, 2026 | $0.84 | $1.00 | +18.5% | $176M | -8.8% |
| Nov 4, 2025 | $0.91 | $1.09 | +19.5% | $176M | -1.7% |
| Jul 30, 2025 | $0.89 | $1.00 | +12.9% | $174M | -8.4% |
| Apr 30, 2025 | $0.87 | $0.99 | +13.3% | $171M | -1.0% |
| Feb 19, 2025 | $0.89 | $0.88 | -1.1% | $162M | -7.8% |
| Oct 30, 2024 | $0.96 | $0.88 | -8.4% | $162M | -1.0% |
| Jul 31, 2024 | $0.82 | $0.93 | +13.6% | $156M | +8.4% |
| May 1, 2024 | $0.76 | $0.98 | +28.8% | $146M | +6.8% |
| Feb 21, 2024 | $0.58 | $0.64 | +10.7% | $127M | +5.3% |
| Nov 1, 2023 | $0.53 | $0.69 | +31.4% | $117M | +6.7% |
WING insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 10, 2026 | Snowden Jay Adirector | Grant | 965 | — |
| Jun 9, 2026 | GOEBEL DAVIDdirector | Grant | 1,131 | — |
| Jun 9, 2026 | Anand Krishnandirector | Grant | 1,131 | — |
| Jun 9, 2026 | Caine Lynn Crumpdirector | Grant | 1,659 | — |
| Jun 9, 2026 | HISLOP MICHAEL Jdirector | Grant | 1,131 | — |
| Jun 9, 2026 | Madati Kilandigaludirector | Grant | 1,131 | — |
| Jun 9, 2026 | Lavelle Kate Sdirector | Grant | 1,131 | — |
| Jun 9, 2026 | Smith Aniadirector | Grant | 1,131 | — |
| Jun 9, 2026 | Greco Thomasdirector | Grant | 1,131 | — |
| Jun 9, 2026 | MCDONALD WESLEY Sdirector | Grant | 1,131 | — |
| May 26, 2026 | HISLOP MICHAEL Jdirector | Grant | 981 | — |
| May 26, 2026 | Smith Aniadirector | Grant | 981 | — |
| May 26, 2026 | Caine Lynn Crumpdirector | Grant | 1,433 | — |
| May 26, 2026 | MCDONALD WESLEY Sdirector | Grant | 981 | — |
| May 26, 2026 | Lavelle Kate Sdirector | Grant | 981 | — |
Source: WING SEC Form 4 filings, latest Aug 10, 2026. For informational purposes only — not investment advice.
See the full WING insider & 13F page →WING research & analysis
Wingstop Inc. company profile
Overview
Wingstop Inc. (NASDAQ:WING) is a Dallas-based restaurant franchise company founded in 1994 that specializes in chicken wings and related products. The company went public in June 2015 and has grown from a regional Texas chain to a global brand with over 2,000 locations across 44 states and multiple international markets. Wingstop operates primarily through a franchise model, with the vast majority of its restaurants owned and operated by franchisees rather than the company itself. The brand has achieved remarkable consistency in growth, posting 21 consecutive years of same-store sales increases through 2024.
Business
Wingstop operates in the quick-service restaurant (QSR) segment of the food service industry, specifically focusing on chicken wings as its core product category. The restaurant industry is highly competitive and includes major players like McDonald's, KFC, Chick-fil-A, and numerous other chicken-focused chains. The company's menu centers around classic bone-in wings, boneless wings, and chicken tenders that are cooked-to-order and hand-sauced in various flavor profiles. Wings are typically served with a variety of proprietary sauces and dry rubs, ranging from mild to extremely spicy options. The "cooked-to-order" preparation method differentiates Wingstop from many fast-food competitors that rely on pre-cooked, heat-lamp warming systems. Wingstop has also expanded its menu to include chicken sandwiches and tenders, capitalizing on broader industry trends toward chicken-based offerings. The company has invested heavily in developing its digital ordering platform called MyWingstop, which allows customers to place orders through mobile apps and websites for pickup or delivery. The business operates through two primary segments: 1. Franchise operations (approximately 95% of locations) - The company collects royalty fees, franchise fees, and advertising fund contributions from franchisees 2. Company-owned restaurants (approximately 5% of locations) - Direct restaurant operations that generate food sales revenue The franchise model generates the majority of Wingstop's revenue through recurring royalty payments rather than direct food sales.
Revenue model
Wingstop generates revenue through a franchise-heavy business model that creates multiple income streams from its restaurant network. The primary revenue sources include: 1. Royalty fees - Franchisees pay ongoing royalties typically calculated as a percentage of their restaurant sales (usually 6% of gross sales) 2. Franchise fees - Upfront payments from new franchisees for the right to operate under the Wingstop brand 3. Advertising fund contributions - Franchisees contribute to a national advertising fund (typically 4% of gross sales) 4. Company-owned restaurant sales - Direct food sales from the small number of corporate-owned locations The paying customers are primarily the franchisees who operate individual restaurants, rather than end consumers. This creates a stable, recurring revenue stream that is less volatile than traditional restaurant operations. Several factors can significantly impact Wingstop's margins and profitability. Commodity price fluctuations, particularly chicken wing costs, directly affect franchisee profitability and their ability to pay royalties. When wing prices are high, franchisees may struggle with margins, potentially impacting their expansion plans and royalty payments. Conversely, periods of wing price deflation, as experienced in 2022-2023, can boost franchisee profitability and system growth. Consumer spending patterns and economic conditions affect restaurant traffic and average transaction sizes, which flow through to royalty payments. The company's focus on "indulgent occasions" makes it somewhat dependent on discretionary consumer spending. Competition in the chicken segment from established players like KFC and newer entrants can pressure same-store sales growth. Additionally, labor cost inflation and regulatory changes like minimum wage increases can squeeze franchisee margins, though Wingstop's relatively simple operating model provides some protection compared to more complex restaurant concepts.
Competitive moat
Wingstop's competitive moat appears moderate but strengthening, built primarily around brand differentiation and operational efficiency rather than insurmountable barriers to entry. The company's strongest moat element is its specialized brand positioning in the chicken wing category. While many restaurants serve wings as a menu item, few have built their entire identity around wings with the same level of flavor variety and preparation consistency. This specialization has created strong brand recognition and customer loyalty, evidenced by 21 consecutive years of same-store sales growth. The franchise model itself provides some defensive characteristics by creating a network of invested operators who have financial incentives to maintain brand standards and drive local market penetration. The company's digital platform and data capabilities are becoming increasingly important, with over 50 million users in their database enabling personalized marketing and improved customer retention. However, the moat faces several vulnerabilities. The chicken wing category is not particularly differentiated from a product standpoint - wings are a commodity that can be replicated by competitors. Major chains like Buffalo Wild Wings, KFC, and regional players can potentially capture market share through pricing, convenience, or marketing. The company's reliance on a single protein category creates concentration risk if consumer preferences shift significantly. The supply chain for chicken wings is not proprietary, and wing price volatility can impact the entire system's economics. Additionally, the franchise model, while providing capital efficiency, limits direct control over customer experience and operational execution compared to company-owned models. Overall, Wingstop has built a respectable moat through brand strength and operational focus, but it operates in a competitive industry where barriers to entry are not prohibitively high for well-capitalized competitors.
Risks & safety
Wingstop demonstrates a strong financial position with solid margin of safety characteristics, though valuation metrics suggest limited downside protection at current prices. **Cash and Debt Position:** • Strong liquidity with $251 million in cash and short-term investments as of Q1 2025 • Current ratio of 3.56 indicates excellent short-term liquidity • Negative book value due to capital structure, but operationally cash-generative • Free cash flow of $106 million in 2024 demonstrates strong cash generation ability • No immediate solvency concerns given franchise model's capital-light structure **Valuation Metrics:** • P/E ratio of 17.2 appears reasonable for a growth company but offers limited margin of safety • EV/EBITDA of 13.3 is elevated for a restaurant company, suggesting high growth expectations are priced in • Price-to-book ratio is negative due to capital structure, making this metric less meaningful **Other Considerations:** • Franchise model provides relatively stable, recurring revenue streams • Strong same-store sales growth track record reduces operational risk • Commodity price exposure (chicken wings) creates some earnings volatility • High expectations embedded in valuation leave little room for execution disappointments
Recent development
Over the past few years, Wingstop has executed several key strategic initiatives to drive growth and operational efficiency. The company has significantly expanded its technology capabilities through the development and launch of the MyWingstop digital platform, which has grown to over 50 million registered users and drives approximately 68% of total sales. This digital transformation has enabled more personalized marketing and improved customer retention metrics. Menu innovation has been another critical focus, with the successful introduction of chicken sandwiches and the relaunch of chicken tenders. The chicken sandwich launch in particular has driven new customer acquisition and helped expand the brand's appeal beyond traditional wing consumers. The company has also been testing and deploying Smart Kitchen technology, an AI-enabled kitchen operating system designed to improve speed of service, food quality consistency, and team member productivity. International expansion has accelerated significantly, with the company entering multiple new markets including France, Australia, and Gulf Coast countries. The UK market has been particularly successful, with the total addressable market expanding from 250 to potentially 450 restaurants based on strong unit economics performance. The company has also raised its long-term growth targets, increasing the U.S. total addressable market estimate from 4,000 to over 6,000 restaurants and setting a global target of over 10,000 restaurants. Average Unit Volume targets have been increased from $2 million to $3 million, reflecting confidence in the brand's ability to drive higher sales per location through the various growth initiatives. Supply chain strategy improvements have provided better visibility and cost management for chicken wing pricing, helping to mitigate the commodity price volatility that has historically impacted the system's economics.
WING company profile · for informational purposes only — not investment advice.
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