A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
Wingstop Inc.
WING
$3.8B
Mkt Cap
$135.20
+0.25%
Wingstop Inc. (WING) has a current P/E ratio of 21.8, compared to its historical median P/E of 60.5. The stock is currently considered Cheap based on its historical valuation range.
Wingstop Inc. (WING) has a 5-year average return on invested capital (ROIC) of 51.5%. This indicates strong capital allocation and a potential competitive advantage.
Wingstop Inc. (WING) has a market capitalization of $3.7B. It is classified as a mid-cap stock.
Yes, Wingstop Inc. (WING) pays a dividend with a trailing twelve-month yield of 0.89%. The company also returns capital through share buybacks, with a buyback yield of 4.88%.
Based on historical P/E analysis, Wingstop Inc. (WING) appears cheap. The current P/E of 21.8 is 64% below its historical median of 60.5. The estimated fair value CAGR (P/E method) is 36.8%.
Wingstop Inc. (WING) operates in the Retail-Eating Places industry, within the Consumer Cyclical sector.
Wingstop Inc. (WING) reported annual revenue of $697 million in its most recent fiscal year, based on SEC EDGAR filings.
Wingstop is the world's largest fast casual chicken wings-focused restaurant chain with over 3,050 locations globally, operating as a highly franchised business model with approximately 98% of restaurants owned and operated by independent franchisees. The company generates revenue through royalties, advertising fees, and franchise fees charged to franchisees, supplemented by a smaller number of company-operated restaurants, creating an asset-light model that generates strong operating margins and requires low capital expenditures. The brand offers fresh, cooked-to-order wings, boneless wings, tenders, and chicken sandwiches hand-sauced-and-tossed in 12 distinctive flavors, complemented by seasoned fries and fresh vegetables, with multiple ordering options (dine-in, carryout, delivery) and meal configurations (individual, combo, family packs) that drive repeat business and brand loyalty. Unit economics are compelling, with domestic average unit volume of approximately $2.0 million and a low average initial investment of roughly $580,000 excluding real estate, targeting franchisee unlevered cash-on-cash returns of approximately 70%+ in year two of operation. The company's distribution is primarily domestic in the United States with growing international presence, and its competitive differentiation rests on the customizable flavor experience, operational simplicity, proprietary digital platform with digital sales above 60%, and the newly deployed Wingstop Smart Kitchen operating platform designed to improve speed of service and consistency at scale.
【Strategic execution driving recovery】 Management expects the business to return to same-store sales growth in the second half of 2026 as three key structural initiatives—the Wingstop Smart Kitchen, the new Club Wingstop loyalty program, and targeted marketing campaigns—gain traction and drive improved guest experience and frequency. The company is navigating near-term consumer pressure from elevated fuel prices and macro headwinds but believes these are cyclical, with early signals from top-performing restaurants on Smart Kitchen and the new advertising campaign validating the long-term opportunity to capture a larger share of the core demand space. Management remains focused on scaling average unit volumes toward the $3 million target through operational excellence, digital leadership, and loyalty-driven engagement, while maintaining disciplined unit development at mid-teens growth rates supported by strong brand partner demand and a record pipeline of committed development agreements. The company anticipates that as these strategies mature and consistency improves across the system, the combination will unlock meaningful demand and conversion benefits, positioning Wingstop to win its fair share of the addressable market and deliver sustained growth.
| Metric | Target | Period |
|---|---|---|
| Global unit growth | 15%-16% | FY2026 |
| Net interest expense | Approximately $43 million | FY2026 |
| Company-owned cost of sales | 75% | FY2026 |
Global unit growth (FY2026): “Global unit growth of 15%-16%, which is based on the visibility we have into the pipeline today.”
Net interest expense (FY2026): “Net interest expense of approximately $43 million.”
Company-owned cost of sales (FY2026): “For modeling purposes, we anticipate company-owned cost of sales to be in the range of 75% for 2026.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 709M | 697M | 626M | 460M | 358M | 283M |
| Net Income | 112M | 174M | 109M | 70M | 53M | 43M |
| EPS | $4.05 | $6.21 | $3.70 | $2.35 | $1.77 | $1.42 |
| Free Cash Flow | 132M | 106M | 106M | 81M | 52M | 21M |
| ROIC | 49.2% | 47.7% | 55.8% | 51.8% | 52.7% | 49.5% |
| Gross Margin | - | 49.4% | 50.6% | 50.3% | 50.4% | 79.7% |
| Debt/Equity | 0.00 | -1.72 | -1.87 | -1.60 | -1.87 | -1.57 |
| Dividends/Share | $1.21 | $1.14 | $0.98 | $0.82 | $4.72 | $0.62 |
| Operating Income | 191M | 179M | 166M | 113M | 92M | 74M |
| Operating Margin | 27.0% | 25.7% | 26.5% | 24.5% | 25.7% | 26.1% |
| ROE | 0.0% | -24.7% | -19.2% | -16.5% | -15.1% | -13.1% |
| Shares Outstanding | 27M | 28M | 29M | 30M | 30M | 30M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 67M | 78M | 103M | 133M | 153M | 200M | 249M | 283M | 358M | 460M | 626M | 697M | 709M |
| Gross Margin | 69.6% | 71.5% | 75.5% | 78.4% | 79.1% | 79.4% | 54.4% | 79.7% | 50.4% | 50.3% | 50.6% | 49.4% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 26M | 33M | 35M | 35M | 45M | 50M | 61M | 63M | 67M | 97M | 117M | 128M | 131M |
| EBIT | 18M | 20M | 27M | 34M | 39M | 43M | 57M | 74M | 92M | 113M | 166M | 179M | 191M |
| Op. Margin | 26.8% | 25.3% | 25.8% | 25.4% | 25.2% | 21.5% | 23.1% | 26.1% | 25.7% | 24.5% | 26.5% | 25.7% | 27.0% |
| Net Income | 9.0M | 10M | 14M | 24M | 22M | 20M | 23M | 43M | 53M | 70M | 109M | 174M | 112M |
| Net Margin | 13.3% | 13.0% | 13.3% | 18.0% | 14.2% | 10.3% | 9.4% | 15.1% | 14.8% | 15.3% | 17.4% | 25.0% | 15.8% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 3.1M | 7.0M | -1.2M | -95K | 2.0M | -6.5M | -6.5M |
| Returns on Capital | |||||||||||||
| ROIC | 7.6% | 10.0% | 24.7% | 41.2% | 42.7% | 38.5% | 51.8% | 49.5% | 52.7% | 51.8% | 55.8% | 47.7% | 49.2% |
| ROE | -61.4% | -84.9% | -28.6% | -34.2% | -15.3% | -9.4% | -8.5% | -13.1% | -15.1% | -16.5% | -19.2% | -24.7% | 0.0% |
| ROA | 14.9% | 8.4% | 11.8% | 20.7% | 16.7% | 13.4% | 12.3% | 18.5% | 15.7% | 17.5% | 19.9% | 24.7% | 17.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 14M | 14M | 22M | 27M | 39M | 39M | 66M | 49M | 76M | 122M | 158M | 153M | 189M |
| Free Cash Flow | 13M | 12M | 20M | 25M | 35M | 16M | 59M | 21M | 52M | 81M | 106M | 106M | 132M |
| Owner Earnings | 11M | 10M | 18M | 22M | 31M | 26M | 49M | 31M | 61M | 93M | 116M | 103M | 139M |
| CapEx | 1.5M | 1.9M | 2.1M | 2.5M | 4.0M | 22M | 6.1M | 28M | 24M | 41M | 52M | 47M | 57M |
| Maint. CapEx | 2.9M | 2.7M | 3.0M | 3.4M | 4.3M | 5.5M | 7.5M | 7.9M | 11M | 13M | 19M | 25M | 26M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 17M | 0 | 20M | 13M | 28M | 32M | 22M | 31M |
| D&A | 2.9M | 2.7M | 3.0M | 3.4M | 4.3M | 5.5M | 7.5M | 7.9M | 11M | 13M | 19M | 25M | 26M |
| CapEx/OCF | N/A | 14.7% | 8.8% | 9.2% | 10.3% | 58.3% | 9.2% | 57.3% | 31.4% | 33.6% | 32.9% | 31.0% | 30.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 48M | 83M | 4.1M | 191M | 12M | 164M | 20M | 141M | 25M | 29M | 32M | 33M |
| Dividend Yield | N/A | 9.0% | 14.0% | 0.6% | 13.5% | 0.5% | 5.0% | 0.4% | 3.9% | 0.5% | 0.3% | 0.4% | 0.9% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 125M | 315M | 222M | 180M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.6% | 3.8% | 3.1% | 4.9% |
| Stock-Based Comp | 960K | 1.2M | 1.2M | 1.9M | 3.7M | 7.0M | 8.6M | 9.6M | 4.2M | 16M | 22M | 25M | 24M |
| Debt Repayment | 8.8M | 38M | 109M | 21M | 365M | 7.4M | 334M | 2.4M | 3.0M | 3.6M | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 191M | 84M | 147M | 130M | 299M | 315M | 438M | 437M | 546M | 642M | 950M | 1.1B | 1.1B |
| Cash & Equiv. | 9.7M | 11M | 3.8M | 4.1M | 12M | 13M | 41M | 49M | 184M | 90M | 316M | 197M | 129M |
| Long-Term Debt | 89M | 95M | 147M | 130M | 309M | 308M | 467M | 469M | 707M | 712M | 1.2B | 1.2B | 1.2B |
| Debt/Equity | -22.37 | -6.42 | -1.85 | -2.29 | -1.39 | -1.56 | -1.40 | -1.57 | -1.87 | -1.60 | -1.87 | -1.72 | 0.00 |
| Interest Coverage | 5.3 | 5.8 | 5.6 | 7.0 | 5.1 | 6.4 | 6.1 | 9.0 | 8.8 | 13.1 | 11.2 | 15.2 | 21.5 |
| Equity | -9.0M | -15M | -81M | -58M | -225M | -209M | -341M | -310M | -391M | -457M | -676M | -737M | -799M |
| Total Assets | 119M | 121M | 112M | 120M | 140M | 166M | 212M | 249M | 424M | 378M | 716M | 693M | 649M |
| Total Liabilities | 128M | 135M | 193M | 178M | 365M | 376M | 553M | 559M | 815M | 835M | 1.4B | 1.4B | 1.4B |
| Intangibles | 52M | 51M | 50M | 50M | 51M | 49M | 49M | 46M | 46M | 49M | 52M | 57M | 33M |
| Retained Earnings | -12M | -47M | -76M | -59M | -226M | -210M | -342M | -310M | -393M | -460M | -677M | -745M | -804M |
| Working Capital | 276K | 7.0M | -5.6M | -3.2M | 3.4M | -2.7M | 22M | 30M | 164M | 73M | 308M | 186M | 120M |
| Current Assets | 17M | 20M | 11M | 16M | 30M | 30M | 73M | 70M | 227M | 144M | 396M | 267M | 217M |
| Current Liabilities | 16M | 13M | 17M | 19M | 26M | 33M | 50M | 40M | 62M | 71M | 87M | 82M | 97M |
| Per Share Data | |||||||||||||
| EPS | 0.34 | 0.36 | 0.47 | 0.82 | 0.73 | 0.69 | 0.78 | 1.42 | 1.77 | 2.35 | 3.70 | 6.21 | 4.05 |
| Owner EPS | 0.40 | 0.36 | 0.60 | 0.76 | 1.03 | 0.88 | 1.66 | 1.04 | 2.04 | 3.11 | 3.95 | 3.67 | 5.11 |
| Book Value | -0.34 | -0.53 | -2.78 | -2.00 | -7.56 | -7.06 | -11.42 | -10.30 | -13.07 | -15.32 | -22.99 | -26.25 | -29.35 |
| Cash Flow/Share | 0.54 | 0.49 | 0.75 | 0.94 | 1.30 | 1.30 | 2.19 | 1.63 | 2.55 | 4.07 | 5.36 | 5.45 | 5.05 |
| Dividends/Share | 0.00 | 1.83 | 2.90 | 0.14 | 6.41 | 0.40 | 5.50 | 0.62 | 4.72 | 0.82 | 0.98 | 1.14 | 1.21 |
| Shares Out. | 26.4M | 28.1M | 29.3M | 29.2M | 29.8M | 29.7M | 29.9M | 30.0M | 29.9M | 29.9M | 29.4M | 28.1M | 27.2M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | 44.3 | 44.1 | 38.6 | 79.8 | 113.2 | 173.7 | 115.5 | 79.2 | 109.0 | 76.8 | 41.3 | 33.4 |
| P/FCF | N/A | 37.5 | 34.6 | 37.1 | 49.8 | 144.0 | 68.1 | 236.1 | 80.2 | 94.7 | 79.0 | 68.1 | 27.9 |
| EV/EBIT | N/A | 26.4 | 28.3 | 31.1 | 52.5 | 60.7 | 77.4 | 71.8 | 49.5 | 72.6 | 53.9 | 44.6 | 24.9 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | N/A | 6.8 | 6.5 | 5.5 | 9.2 | 11.0 | 13.1 | 15.6 | 10.2 | 12.0 | 16.6 | 11.2 | 5.2 |
| FCF Yield | N/A | 2.7% | 2.9% | 2.7% | 2.0% | 0.7% | 1.5% | 0.4% | 1.2% | 1.1% | 1.3% | 1.5% | 3.6% |
| Market Cap | N/A | 448M | 681M | 924M | 1.7B | 2.3B | 4.0B | 4.9B | 4.2B | 7.6B | 8.3B | 7.2B | 3.7B |
| Avg. Price | N/A | 18.97 | 20.31 | 25.18 | 47.49 | 74.04 | 109.18 | 147.00 | 121.77 | 184.65 | 354.50 | 278.63 | 135.20 |
| Year-End Price | N/A | 15.95 | 23.38 | 31.63 | 58.27 | 78.10 | 135.47 | 163.95 | 140.23 | 256.08 | 284.13 | 256.19 | 135.20 |
Wingstop Inc. passes 7 of 9 quality checks, indicating strong fundamentals.
Wingstop Inc. trades at 21.8x trailing earnings, compared to its 15-year median P/E of 60.5x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 35.2x vs a median of 68.1x. The company's 5-year average ROIC is 51.5% with a gross margin of 56.1%. Total shareholder yield (dividends + buybacks) is 5.8%. At current prices, the estimated annualized return to fair value is +21.8%.
Wingstop Inc. (WING) has a net profit margin of 25.0%. This is a strong margin indicating high profitability.
Wingstop Inc. (WING) generated $106 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Wingstop Inc. (WING) reported earnings per share (EPS) of $6.21 in its most recent fiscal year.
Wingstop Inc. (WING) has a return on equity (ROE) of -24.7%. A negative ROE may indicate losses or negative equity.
Wingstop Inc. (WING) has a 5-year average gross margin of 56.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 13 years of financial data for Wingstop Inc. (WING), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Wingstop Inc. (WING) has a book value per share of $-26.25, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects the business to return to same-store sales growth in the second half of 2026 as three key structural initiatives—the Wingstop Smart Kitchen, the new Club Wingstop loyalty program, and targeted marketing campaigns—gain traction and drive improved guest experience and frequency. The company is navigating near-term consumer pressure from elevated fuel prices and macro headwinds but believes these are cyclical, with early signals from top-performing restaurants on Smart Kitchen and the new advertising campaign validating the long-term opportunity to capture a larger share of the core demand space. Management remains focused on scaling average unit volumes toward the $3 million target through operational excellence, digital leadership, and loyalty-driven engagement, while maintaining disciplined unit development at mid-teens growth rates supported by strong brand partner demand and a record pipeline of committed development agreements. The company anticipates that as these strategies mature and consistency improves across the system, the combination will unlock meaningful demand and conversion benefits, positioning Wingstop to win its fair share of the addressable market and deliver sustained growth.
Based on recent SEC filings and earnings calls, Wingstop Inc. (WING) has provided the following forward guidance: Global unit growth: 15%-16% (FY2026); Net interest expense: Approximately $43 million (FY2026); Company-owned cost of sales: 75% (FY2026).