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Fast-casual chicken wings chain, almost entirely franchised, with rapidly growing off-premise and delivery sales.
Fast-casual chicken wings chain, almost entirely franchised, with rapidly growing off-premise and delivery sales.
Franchisees pay Wingstop a royalty on their sales and a contribution to a shared advertising fund, so the company earns on system-wide sales without carrying restaurant costs. It owns only a handful of restaurants itself, and digital orders have become a main way sales are made.
Moat: narrow (brand, distribution). Asset-light franchise model and flavor-forward brand support high unit economics and rapid unit growth.
Headquarters: Dallas, Texas, US · Founded: 1994 · Employees: 1,367
Size Wingstop (WING) is a United States Consumer Discretionary company (Restaurants) with a market value of $4.42B, the 1278th largest of 3,117 United States companies the cockpit tracks. Shares closed at $163.28 on 6 Nov 2026.
Performance Over six months the shares gained 25.9%, against +16.5% for the median peer and -1.1% for the United States market (cap-weighted) — 7th highest of 20 in its peer set.
Growth Revenue grew 6.9% over the last twelve months (peer median +10.1%); the operating margin is 28.4% (peer median 8.5%).
Valuation It trades at 35.3× forward earnings against a peer median of 31.5× (10th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 22% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 34.6 points above its cost of capital (11.8% WACC).
Short interest Short interest is 17.3% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $730M | $697M | $626M | $460M | $358M |
| Revenue growth | — | +11% | +36% | +29% | — |
| Gross profit | $599M | $576M | $515M | $376M | $283M |
| EBITDA | $236M | $217M | $186M | $126M | $104M |
| Net income | $117M | $174M | $109M | $70.2M | $52.9M |
| Free cash flow | $117M | $106M | $106M | $80.8M | $52.3M |
| Capital expenditure | $70.4M | $47.4M | $51.9M | $40.8M | $23.9M |
| Total debt | $1.28B | $1.27B | $1.27B | $733M | $731M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Wingstop WING | $4.42B | +26% | +7% | 28% | 35.3× | 21.9% |
| Restaurant Brands International QSR | $35.1B | -3% | +6% | 27% | 18.1× | 6.3% |
| El Pollo Loco LOCO | $453M | +6% | +4% | 10% | 14.4× | 3.2% |
| Yum! Brands YUM | $44.0B | +7% | +9% | 32% | 24.8× | -0.2% |
| Domino's DPZ | $11.0B | +4% | +4% | 20% | 16.3× | 1.8% |
| Papa John's International PZZA | $650M | -37% | -6% | 5% | 19.7× | 4.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | WING | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +37.8% | +8.8% | highest of 21 |
| 6-month return | +25.9% | +16.5% | 7th highest of 20 |
| Distance from 52-week high | -46.1% | -14.2% | 2nd lowest of 21 |
| Revenue growth (TTM) | +6.9% | +10.1% | 9th lowest of 21 |
| Operating margin | 28.4% | 8.5% | highest of 21 |
| Forward P/E | 35.3× | 31.5× | 10th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 21.9% | 6.6% | 5th most demanding of 19 |
| Growth delivered (Del g) | +22.9% | +14.6% | 5th highest of 19 |
| Hurdle (Req g minus delivered) | -1.0 pp | -2.2 pp | 7th most demanding of 19 |
| ROIC minus cost of capital | +34.6 pp | +2.8 pp | 3rd highest of 21 |
| EV / EBITDA | 23.4× | 14.6× | 5th most expensive of 21 |
| Net debt / EBITDA | 4.8× | 2.2× | 2nd most indebted of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wingstop WING | United States | $4.42B | +26% | +7% | 28% | 35.3× | 21.9% | +22.9% |
| Skylark 3197.T | Japan | $5.18B | +19% | +11% | 7% | 38.5× | 6.4% | +9.7% |
| Cheesecake Factory CAKE | United States | $5.32B | +73% | +8% | 7% | 21.2× | 16.7% | +13.6% |
| Dutch Bros BROS | United States | $5.90B | -36% | +30% | 10% | 31.0× | 36.3% | +38.0% |
| Jersey Mike's Subs JMKE | United States | $6.03B | n/a | +11% | 21% | 26.3× | n/a | n/a |
| Jubilant Foodworks JUBLFOOD.NS | India | $3.20B | -5% | +16% | 10% | 61.4× | 28.6% | +23.5% |
| Shake Shack SHAK | United States | $3.08B | +2% | +17% | 5% | 55.7× | n/a | n/a |
| CAVA CAVA | United States | $6.91B | -26% | +27% | 7% | 85.5× | 41.5% | +27.9% |
| Haidilao 6862.HK | Hong Kong | $7.24B | -28% | +11% | 12% | 11.4× | 2.0% | +7.8% |
| TORIDOLL 3397.T | Japan | $2.68B | +19% | +3% | 7% | 57.7× | 5.9% | +15.6% |
| McDonald's Holdings Company (Japan) 2702.T | Japan | $7.33B | +7% | +2% | 14% | 32.0× | 1.8% | +7.6% |
| Food & Life Companies 3563.T | Japan | $7.34B | +12% | +24% | 10% | 35.6× | 6.9% | +16.0% |
| Mitchells & Butlers MAB.L | United Kingdom | $2.56B | +25% | +3% | 12% | 10.2× | 4.7% | +12.9% |
| Saizeriya 7581.T | Japan | $2.52B | +60% | +17% | 5% | 26.9× | 4.6% | +19.0% |
| create restaurants 3387.T | Japan | $2.34B | +14% | +3% | 5% | 65.7× | 17.8% | +17.3% |
| Brinker International EAT | United States | $8.58B | +49% | +6% | 11% | 14.7× | 9.3% | +11.7% |
| Sodexo SW.PA | France | $9.91B | +28% | 0% | 3% | 17.7× | 6.0% | +6.6% |
| SSP SSPG.L | United Kingdom | $1.87B | +17% | +5% | 7% | 13.9× | 2.6% | +20.5% |
| Yoshinoya 9861.T | Japan | $1.84B | +42% | +10% | 4% | 45.5× | 11.2% | +5.8% |
| Guzman y Gomez GYG.AX | Australia | $1.82B | +55% | +19% | 17% | 51.0× | 32.7% | +34.2% |
| Domino's DPZ | United States | $11.0B | +4% | +4% | 20% | 16.3× | 1.8% | +3.7% |