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Wingstop Inc. (WING) stock

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NASDAQ: WING Nasdaq Restaurants Next results ~February 17, 2027

C+ Fundamentals grade

Wingstop Inc. is a US-listed company in the restaurants industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$68

Cash-flow model

Base case. Range ~$41–$100 across our lower- and higher-growth cases (7.7%–17.7% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 59% below it.

Price used: $163.04, November 2, 2026

Wingstop Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 4 selling0 purchases and 7 sales by directors and officers, last 12 monthsInsider trades
  • Funds210 adding, 241 cuttingOf 77 active managers that changed their stake, 43 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Wingstop files

10-Q filed October 28: Wingstop

Model value +6.1%

Revenue for the twelve months to September 2026 was $730m, up 6.9% on a year earlier, slower than the 7.6% growth a quarter earlier. Free-cash-flow margin rose to 16.0% from 9.2% a year earlier. Operating margin widened to 27.7% from 25.5%. The diluted share count is down 3.5% on a year earlier, which lifts each remaining share. Our model value rises from $63.45 to $67.32 a share, against a share price of $148. The rating stays Sell. At that price, our model says the market is pricing in about 23.5% a year of cash-flow growth for five years, faster than the 20.9% a year revenue growth it has delivered.

Source: 10-Q filed October 28, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed July 29: Wingstop

Wingstop's revenue reached $730m over the twelve months to June 2026, up 6.9% on a year earlier, a pace that cooled from 7.6% growth the previous quarter. Profitability improved markedly: free-cash-flow margin climbed to 16.0% from 9.2%, while operating margin widened to 27.7% from 25.5%. A 3.5% reduction in the diluted share count over the year has also boosted the value attributable to each remaining share. Despite these gains, the fundamentals grade slipped from B to C+. Our model value is little changed at $63.45 a share, well below the $124 share price. The rating stays Sell. At that price, the market appears to be pricing in cash-flow growth of about 24.1% a year for five years, outpacing the 20.9% a year revenue growth Wingstop has actually delivered.

10-Q on SEC EDGAR

Where Wingstop stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $721m, up 7.6% on a year earlier, slower than 9.0% a quarter earlier. Free-cash-flow margin rose to 17.8% from 8.3% a year earlier. Operating margin widened to 27.9% from 24.7%. The diluted share count is down 3.9% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 1 of our 4 financial-health checks. Our cash-flow model value is $62.48 a share, against a share price of $131. At that price, our model says the market is pricing in about 23.4% a year of cash-flow growth for five years, faster than the 20.6% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 17, 2027 (estimated)

Wingstop Inc.'s trailing-twelve-month revenue grew 6.9% year on year, with a free-cash-flow margin of 16.0%. Where it stands out: operating margin of 27.7% ranks 3 of 42 restaurants companies we cover. Where it lags: long-term debt as % of assets of 176.4% ranks 35 of 36 restaurants companies we cover.

Our discounted-cash-flow model values the business at ~$68 per share in the base case (~$41–$100 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 86.4% while net income fell 32.8%: a 119pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 27.7% of revenue is left as operating profit, against a median of 5.2% for restaurants companies we cover.
  • Shrinking share count. Diluted shares fell 3.5% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $163.04 is 59% above our value per share of $68.
  • High debt. Long-term debt exceeds cash by $1.1bn, more than 1.5 times annual revenue.
  • Volatile shares. Over the past year the shares showed annualised volatility of 64% and a beta of 0.9 against the S&P 500.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 176.4% ranks 35 of 36 restaurants companies we cover (median 29.0%).
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 2.7% ranks 36 of 40 restaurants companies we cover (median 0.8%).
  • Heavily shorted. 17.4% of the shares available to trade are sold short (3.6 days of average volume to cover).

Latest results: FY2026 Q3

Filed October 28, 2026
Earnings per share
$1.08 against an average estimate of $1.02: beat by 5.7%
Revenue
$185m, up 5.3% on a year earlier
Share reaction
+17.7% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Guidance given
domestic same store sales growth growth 4% to 6% (2026); SG&A $140m to $143m (2026)
Next report
October 28, 2026; average EPS estimate $0.98

Wingstop's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+8.9%
  • 1 week+32.7%
  • 1 month+52.5%
  • This year-31.2%
  • 1 year-24.1%
  • 5 years+14.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$730M
Operating margin
27.7%
Net margin
16.0%
EPS (TTM, diluted)
$4.26

Growth

Revenue growth
+6.9%
Change in growth rate
−0.7 pts
Share count change
−3.5%

Cash

Free cash flow (TTM)
$117M
FCF margin
16.0%
Stock pay % of revenue
2.7%

Earnings

Last results
October 28, 2026
Next results (est.)
February 17, 2027

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

    Wingstop posts Q3 revenue rise but same store sales fall

    Wingstop Inc. said total revenue rose 5.3% to $185.1 million for the quarter ended September 26, 2026. Net income increased 2.2% to $29.1 million, or $1.07 per diluted share. However, domestic same store sales decreased 5.4% year over year. The company attributed the decline to lower transaction volumes and consumer spending pressure.

    Company releaseRead source ↗SEC filing ↗
  2. Our research
  3. Announcement

    Wingstop launches limited-time Sour Patch Kids wing flavor

    Wingstop Inc. said it will introduce a limited-time wing flavor in partnership with the Sour Patch Kids brand. The item, described as a sour then sweet redberry glaze, arrives for Club Wingstop members on Oct. 23 and nationwide on Oct. 27. The company noted the flavor will be available until Nov. 5.

    Company releaseRead source ↗
  4. Results
  5. Announcement
  6. Announcement
  7. Leadership
  8. Leadership
  9. Announcement
  10. Results
  11. Guidance
  12. Product

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Wingstop Inc. valuation models and calculator

What the price is pricing in

The share price implies about 25.0% a year of cash-flow growth for five years.That is close to the 20.9% a year revenue growth Wingstop has delivered.

  • Priced in25.0%
  • Last 12 months6.9%
  • 3 years a year18.6%
  • 5 years a year20.9%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($160.67, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$68
Price used
$160.67close November 3, 2026
Implied change
▼ 58%
Uncertainty
High

How we got here: a discounted-cash-flow model of Wingstop Inc.'s free cash flow after stock-based pay with after-tax interest added back ($92.3M, FY2026 Q3 TTM), growing 15.3% and 13.9% in the next two years (forecasts, guidance and its record), then back to 12.7% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$41–~$100 ; that spread sets a 35% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Wingstop Inc.'s free cash flow after stock-based pay ( $92.3M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Wingstop Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.96 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$68 ~$41–$100 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$86 ~$76–$150 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$74 ~$68–$86 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Wingstop Inc. with Restaurants in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −44%
  • Revenue growth 5 points higher ▲ +57%
  • Free-cash-flow margin 1 point lower ▼ −11%
  • Last year's free-cash-flow margin change, if it persists ▲ more than doubles
  • Discount rate 1 point higher ▼ −26%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $8$26$49$80$120$172
8.5% —$10$26$48$77$114
10% ——$13$29$51$79

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$15.97$23.36$30.89$57.89$77.58$132.17$163.10$135.15$253.08$282.24$254.48$163.04
Market value$444m$677m$909m$1.7bn$2.3bn$3.9bn$4.9bn$4.0bn$7.6bn$8.3bn$7.1bn$4.5bn
+ Net debt (− = net cash)$85m$148m$130m$308m$305m$439m$429m$540m$631m$905m$1.0bn$1.1bn
Enterprise value$529m$824m$1.0bn$2.0bn$2.6bn$4.4bn$5.3bn$4.6bn$8.2bn$9.2bn$8.2bn$5.6bn
Multiples
Price / sales 5.7x6.6x6.8x11.2x11.5x15.8x17.3x11.3x16.4x13.3x10.3x6.1x
Price / earnings 44.0x49.2x38.0x78.9x112.4x169.0x114.5x76.5x107.7x76.3x41.0x38.2x
Price / free cash flow 37.2x34.1x36.5x49.2x143.0x66.2xn/m77.4x93.6x78.5x67.6x38.4x
EV / EBITDA 23.6x27.8x27.9x47.2x53.9x67.5x65.0x44.6x65.1x49.7x40.0x24.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

93 /100

Strong moat

How hard Wingstop's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 65.9% of total assets over 9 years.

  • Pricing power 18 / 20

    Gross margin has been a median 79.5%, moving by 4.3 percentage points (standard deviation) across 10 years.

  • Durability 18 / 20

    Operating margin has been a median 25.5%; its worst year was 22.8%.

  • Cash conversion 19 / 20

    Free cash flow was positive in 10 of 10 years, at a median 17.9% of revenue.

  • Discipline 18 / 20

    The diluted share count fell 8.1% over five years; stock-based pay has been a median 3.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $4.35 +7% $760m +9%
Next $5.22 +20% $880m +16%

Next year's EPS estimate has moved −3.0% in 90 days, across 26 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −2.6% on 90 days ago. In the last 30 days, 0 analysts raised Wingstop Inc.'s forecast and 4 cut it.

Consensus EPS forecast Wingstop Inc., last 90 days
$4.00 $4.50 $5.00 $5.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $4.46 Current fiscal year, 60 days ago: $4.45 Current fiscal year, 30 days ago: $4.44 Current fiscal year, 7 days ago: $4.40 Current fiscal year, Now: $4.35 $4.35 Next fiscal year, 90 days ago: $5.38 Next fiscal year, 60 days ago: $5.36 Next fiscal year, 30 days ago: $5.35 Next fiscal year, 7 days ago: $5.31 Next fiscal year, Now: $5.22 $5.22

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $4.46$5.38
60 days ago $4.45$5.36
30 days ago $4.44$5.35
7 days ago $4.40$5.31
Now $4.35$5.22

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.02 $1.08 +5.7%
Jun 2026 $1.02 $1.18 +15.4%
Mar 2026 $1.03 $1.18 +15.1%
Dec 2025 $0.83 $1.00 +20.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 29, 2026
  • Domestic same store sales growth 2026 4% growth to 6% growth
    “A decline of 4% to 6% in domestic same store sales growth;” source
  • SG&A 2026 $140m to $143m
    “SG&A of between $140 - $143 million, which includes $3 million of restructuring charges related to corporate realignment;” source
  • Stock-based compensation expense 2026 about $24m
    “Stock-based compensation expense of approximately $24 million; and” source
  • Depreciation and amortization 2026 about $33m
    “Depreciation and amortization of approximately $33 million.” source
  • Global unit growth rate 2026 15% growth to 16% growth Maintained
    “Global unit growth rate of 15% to 16%; and” source
  • Interest expense, net 2026 about $43m Maintained
    “Interest expense, net of approximately $43 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Wingstop Inc.'s revenue by +15.3% next year and +13.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+16.3%, weight 70%) and the company's own record (+12.7%, weight 30%) . How the weights are set.

Analyst recommendations

28 analysts, Oct 2026
Buy2279%
Hold621%
Sell00%

Monthly trend

  1. Oct 2026319628
  2. Sep 2026419528
  3. Aug 2026519529
  4. Jul 2026420529

Counts of recommendations published by analysts covering Wingstop Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
17.4%
of tradable shares
Days to cover
3.58
at average volume
Short interest, 1 month
−5%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.7%
of shares
Employees
345
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −24.1%

$214.90 on October 31, 2025 to $163.04

ThenNowEffect
Revenue (last 12 months) $670m $721m +7.6%
Net margin 25.6% 16.2% −36.9%
P/E multiple 36.1x 38.7x +7.4%
Share count 29m 28m +4.0%

Biggest factor: net margin.

Last 3 years −20.0%

$203.82 on November 3, 2023 to $163.04

ThenNowEffect
Revenue (last 12 months) $413m $721m +74.3%
Net margin 15.2% 16.2% +6.3%
P/E multiple 97.4x 38.7x −60.2%
Share count 30m 28m +8.5%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
WING+31%−17%+87%+11%−16%−31%
Industry peers (median)+15%−15%+15%−1%−8%+6%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
WING58%33%75%67%42%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
WING−32%−59%−31%−34%−44%−65%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 77% from June 18, 2024 to September 24, 2026. Getting back needed a 333% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$97.84 – $282.76
From 52-week high
−42.3%
vs 50-day average
+40.5%
vs 200-day average
+0.5%
Volatility (1 year)
64%
Beta vs S&P 500
0.89

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±11.2%
After a week
6 up, 5 down
typical move ±11.2%
After a month
5 up, 6 down
typical move ±17.6%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 +17.7% 0.0% — —
July 29, 2026 −0.4% +0.1% −8.2% −18.2%
April 29, 2026 −5.2% +1.0% −15.9% −9.0%
February 18, 2026 +3.3% +0.2% +1.0% −25.5%
November 4, 2025 +18.1% −0.8% +11.7% +23.0%
July 30, 2025 +30.0% −0.5% +15.7% +16.8%
April 30, 2025 +12.7% +0.7% +17.2% +48.4%
February 19, 2025 −19.3% −0.2% −25.6% −28.0%
October 30, 2024 −22.0% −2.3% −14.5% −10.8%
July 31, 2024 −1.3% +0.2% −4.7% +2.6%
May 1, 2024 −0.8% +0.6% +2.4% −4.1%
February 21, 2024 +3.0% +2.2% +6.8% +7.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Wingstop Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Wingstop Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Wingstop Inc.
$400M $500M $600M $700M $800M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $460.1M Revenue (TTM), FY24 Q1: $497.1M Revenue (TTM), FY24 Q2: $545.6M Revenue (TTM), FY24 Q3: $591M Revenue (TTM), FY24 Q4: $625.8M Revenue (TTM), FY25 Q1: $651.1M Revenue (TTM), FY25 Q2: $669.7M Revenue (TTM), FY25 Q3: $683M Revenue (TTM), FY25 Q4: $696.9M Revenue (TTM), FY26 Q1: $709.5M Revenue (TTM), FY26 Q2: $720.7M Revenue (TTM), FY26 Q3: $730.1M $730.1M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $460.1M
FY24 Q1 $497.1M
FY24 Q2 $545.6M
FY24 Q3 $591M
FY24 Q4 $625.8M
FY25 Q1 $651.1M
FY25 Q2 $669.7M
FY25 Q3 $683M
FY25 Q4 $696.9M
FY26 Q1 $709.5M
FY26 Q2 $720.7M
FY26 Q3 $730.1M
Revenue growth, TTM YoY Wingstop Inc.
0% 10% 20% 30% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 28.7% Revenue growth, TTM YoY, FY24 Q1: 27.5% Revenue growth, TTM YoY, FY24 Q2: 32.0% Revenue growth, TTM YoY, FY24 Q3: 35.0% Revenue growth, TTM YoY, FY24 Q4: 36.0% Revenue growth, TTM YoY, FY25 Q1: 31.0% Revenue growth, TTM YoY, FY25 Q2: 22.7% Revenue growth, TTM YoY, FY25 Q3: 15.6% Revenue growth, TTM YoY, FY25 Q4: 11.4% Revenue growth, TTM YoY, FY26 Q1: 9.0% Revenue growth, TTM YoY, FY26 Q2: 7.6% Revenue growth, TTM YoY, FY26 Q3: 6.9% 6.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 28.7%
FY24 Q1 27.5%
FY24 Q2 32.0%
FY24 Q3 35.0%
FY24 Q4 36.0%
FY25 Q1 31.0%
FY25 Q2 22.7%
FY25 Q3 15.6%
FY25 Q4 11.4%
FY26 Q1 9.0%
FY26 Q2 7.6%
FY26 Q3 6.9%
Operating margin (TTM) Wingstop Inc.
24% 25% 26% 27% 28% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 24.5% Operating margin (TTM), FY24 Q1: 26.1% Operating margin (TTM), FY24 Q2: 26.5% Operating margin (TTM), FY24 Q3: 26.0% Operating margin (TTM), FY24 Q4: 26.5% Operating margin (TTM), FY25 Q1: 24.7% Operating margin (TTM), FY25 Q2: 24.7% Operating margin (TTM), FY25 Q3: 25.5% Operating margin (TTM), FY25 Q4: 25.7% Operating margin (TTM), FY26 Q1: 27.0% Operating margin (TTM), FY26 Q2: 27.9% Operating margin (TTM), FY26 Q3: 27.7% 27.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 24.5%
FY24 Q1 26.1%
FY24 Q2 26.5%
FY24 Q3 26.0%
FY24 Q4 26.5%
FY25 Q1 24.7%
FY25 Q2 24.7%
FY25 Q3 25.5%
FY25 Q4 25.7%
FY26 Q1 27.0%
FY26 Q2 27.9%
FY26 Q3 27.7%
FCF margin (TTM) Wingstop Inc.
5% 10% 15% 20% 25% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 17.6% FCF margin (TTM), FY24 Q1: 16.7% FCF margin (TTM), FY24 Q2: 20.0% FCF margin (TTM), FY24 Q3: 23.6% FCF margin (TTM), FY24 Q4: 16.9% FCF margin (TTM), FY25 Q1: 13.7% FCF margin (TTM), FY25 Q2: 8.3% FCF margin (TTM), FY25 Q3: 9.2% FCF margin (TTM), FY25 Q4: 15.2% FCF margin (TTM), FY26 Q1: 18.6% FCF margin (TTM), FY26 Q2: 17.8% FCF margin (TTM), FY26 Q3: 16.0% 16.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 17.6%
FY24 Q1 16.7%
FY24 Q2 20.0%
FY24 Q3 23.6%
FY24 Q4 16.9%
FY25 Q1 13.7%
FY25 Q2 8.3%
FY25 Q3 9.2%
FY25 Q4 15.2%
FY26 Q1 18.6%
FY26 Q2 17.8%
FY26 Q3 16.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Wingstop took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $697M
  2. Other income $57.9M · 8.3%
  3. Selling, general and admin $128M · 18.4%
  4. Other operating costs $389M · 55.9%
  5. Operating income $179M · 25.7%
  6. Income tax $62.9M · 9.0%
  7. Net income $174M · 25.0%

Shares of revenue. Source: Wingstop's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 59 67 78 103 133 153 200 249 283 358 460 626 697 730
Gross profit 37 47 56 78 105 121 159 200 225 294 389 534 — —
EBITDA 18 21 22 30 37 43 48 65 82 103 126 185 204 232
Operating income 15 18 20 27 34 39 43 57 74 92 113 166 179 203
Net income 8 9 10 14 24 22 20 23 43 53 70 109 174 117
Diluted EPS $0.29 $0.34 $0.36 $0.47 $0.82 $0.73 $0.69 $0.78 $1.42 $1.77 $2.35 $3.70 $6.21 $4.26
Growth (year on year)
Revenue — +14.3% +15.6% +32.5% +29.0% +14.9% +30.4% +24.6% +13.5% +26.6% +28.7% +36.0% +11.4% +6.9%
EBITDA — +17.1% +6.8% +32.2% +25.8% +15.0% +12.9% +34.1% +25.9% +25.9% +22.4% +47.1% +10.4% +16.7%
Operating income — +21.4% +9.1% +34.9% +27.3% +13.7% +11.4% +33.8% +28.5% +24.6% +22.5% +47.1% +8.3% +16.2%
Net income — +19.3% +12.5% +36.2% +73.9% −9.3% −5.7% +13.8% +83.0% +24.1% +32.5% +54.9% +60.3% −32.8%
Diluted EPS — +17.2% +5.9% +30.6% +74.5% −11.0% −5.5% +13.0% +82.1% +24.6% +32.8% +57.4% +67.8% −30.4%
Margins
Gross margin 62.4% 69.6% 71.5% 75.5% 78.4% 79.1% 79.4% 80.5% 79.7% 82.3% 84.6% 85.4% — —
EBITDA margin 30.4% 31.1% 28.7% 28.7% 27.9% 28.0% 24.2% 26.1% 28.9% 28.8% 27.4% 29.6% 29.3% 31.8%
Operating margin 25.2% 26.8% 25.3% 25.8% 25.4% 25.2% 21.5% 23.1% 26.1% 25.7% 24.5% 26.5% 25.7% 27.7%
Net margin 12.8% 13.3% 13.0% 13.3% 18.0% 14.2% 10.3% 9.4% 15.1% 14.8% 15.3% 17.4% 25.0% 16.0%
Free-cash-flow margin 14.8% 19.1% 15.3% 19.2% 18.7% 22.7% 8.1% 23.9% 7.4% 14.6% 17.6% 16.9% 15.2% 16.0%
Cash flow
Cash from operations 11 14 14 22 27 39 39 66 49 76 122 158 153 187
Capital spending 2 2 2 2 3 4 22 6 28 24 41 52 47 70
Free cash flow 9 13 12 20 25 35 16 59 21 52 81 106 106 117
Stock-based pay 1 1 1 1 2 4 7 9 10 4 16 22 25 20
Free cash flow after stock pay 8 12 11 19 23 31 9 51 11 48 65 84 81 97
Balance sheet
Cash 3 10 11 4 4 12 13 41 49 184 90 316 197 105
Total debt — — 96 151 134 320 318 480 478 725 721 1,221 1,221 1,211
Net debt (negative = net cash) −3 −10 85 148 130 308 305 439 429 540 631 905 1,024 1,107
Diluted shares 26m 26m 28m 29m 29m 30m 30m 30m 30m 30m 30m 29m 28m 27m
Returned to shareholders
Dividends 39 0 48 83 4 191 12 164 20 141 25 29 32 34
Buybacks — — — — — — — — 0 0 125 315 222 165
Total returned 39 0 48 83 4 191 12 164 20 141 150 344 254 199

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 4 checks passed · September 26, 2026
What it owns · $687m
Short-term assets $195mLonger-term assets $491m
What it owes, and who funded it · $1.5bn
Short-term liabilities $92mLonger-term liabilities $1.4bnShareholders' equity $-773m
  • Short-term assets cover short-term liabilities $195m of assets due within a year against $92m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $195m short-term assets against $1.4bn of longer-dated liabilities.
  • More cash than debt $105m of cash against $1.2bn of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $187m of operating cash flow against $1.2bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Wingstop Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$165M
Dividends (TTM)
$34M
Returned to shareholders
171%
of free cash flow
Buybacks, last 3 fiscal years
$662M
Diluted share count
−3.5%
year over year
Total shareholder yield
4.5%
dividends 0.8% + buybacks 3.7% of market value
Dividend payout ratio
29%
of net income paid out
Sales & admin spending
17.6%
of revenue
Days sales outstanding
16 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in restaurants
Last 12 months unless stated WING PTLO SG STKS LOCO NDLS Median
Revenue, last 12 months $730m $749m $682m $801m $501m $496m $1.4bn
Revenue growth, last 12 months 6.9% 2.9% −0.6% −4.1% 4.4% 0.2% 4.6%
Revenue growth, 3-year average 18.6% 6.1% 9.4% 34.7% 2.0% −1.4% 5.1%
Revenue growth, latest quarter 5.3% 5.6% 3.8% −3.3% 3.0% 0.5% 4.5%
Operating margin 27.7% 4.5% −21.4% 2.1% 10.5% −2.6% 4.9%
Operating margin, 3-year average 26.4% 6.9% −17.4% 1.8% 9.3% −4.3% 6.9%
Net margin 16.0% 1.9% 2.0% −10.2% 7.0% −4.7% 2.5%
Cash from operations / revenue 25.6% 10.5% −4.1% 6.5% 14.8% 2.7% 11.9%
Free-cash-flow margin 16.0% −1.2% −18.1% 0.4% 8.2% 0.8% 3.4%
Free-cash-flow margin, 3-year average 16.2% −0.7% −11.6% −3.8% 5.9% −2.1% 2.8%
Stock pay / revenue 2.7% 1.0% 4.3% 0.6% 1.1% 0.7% 0.8%
Change in share count −3.5% 9.8% 2.1% −0.7% 1.1% −0.4% 0.2%

Median of all 44 companies we cover in restaurants. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

44 restaurants companies
Measure Company Peer median Rank
Revenue growth Growth 6.9% 4.7% 18 of 44
Change in growth rate Growth -0.7pp +0.3pp 34 of 44
Operating margin Profitability 27.7% 5.2% 3 of 42
Net margin Profitability 16.0% 2.6% 4 of 44
Free-cash-flow margin Cash generation 16.0% 3.6% 5 of 44
Stock pay as % of revenue Cash generation 2.7% 0.8% 36 of 40
Long-term debt as % of assets Balance sheet 176.4% 29.0% 35 of 36
Change in share count Balance sheet -3.5% 0.3% 9 of 42
Days sales outstanding Balance sheet 16 days 6 days 18 of 25

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 27, 2025
Products and services
Line of business Revenue YoY
Royalty Franchise Fees and Other $322M ▲ 11.6%
Royalty $292M ▲ 12.6%
Advertising $248M ▲ 13.8%
Advertising Fees $248M ▲ 13.8%
Franchisor Owned Outlet $127M ▲ 6.4%
Franchise $6.5M ▲ 7.0%

These categories overlap or exclude eliminations, so shares aren't shown.

From Wingstop Inc.'s 10-K filed February 18, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$5.9B
Institutions reporting
425
Shares held vs prior quarter
▲ 2.6%
Positions opened / closed
96 / 75

Top buyers and sellers, Q2 2026: 210 institutions bought and 241 sold ; the biggest buyer was FMR LLC (+1.9M shares) and the biggest seller Price T Rowe Associates Inc (−1.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $710M 4.1M 12.1% ▲ 90.7%
Blackrock, Inc. $481M 2.8M 8.2% ▼ 11.2%
Darsana Capital Partners LP $260M 1.5M 4.4% ▲ 20.0%
Massachusetts Financial Services Co $227M 1.3M 3.9% ▲ 0.9%
T. Rowe Price Investment Management, Inc. $215M 1.2M 3.7% ▼ 3.5%
Vanguard Capital Management LLC $213M 1.2M 3.6% ▼ 0.4%
Vanguard Portfolio Management LLC $205M 1.2M 3.5% ▲ 2.6%
American Century Companies Inc $167M 962K 2.8% ▼ 13.4%
Marshall Wace, LLP $167M 961K 2.8% New
Alyeska Investment Group, L.P. $164M 943K 2.8% ▲ 44.5%
State Street Corp $150M 864K 2.6% ▲ 2.0%
Jupiter Topco LLC $147M 850K 2.5% —

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Wingstop Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1.6M 7 trades by 4 insiders · 0% under pre-set plans
Net ▼ $1.6M net selling
Insider Date Trade Shares Price Value
Kapoor Raj SVP, Chief Operating Officer November 2, 2026 Sell 2,500 $163.61 $409,025
Mcdonald Wesley S Director October 30, 2026 Sell 1,520 $145.11 $220,567
Fallon Christopher Former SVP & CIO May 12, 2026 Sell 250 $125.93 $31,482
Fallon Christopher SVP, Chief Information Officer March 10, 2026 Sell 177 $220.78 $39,078
Madati Kilandigalu Director February 25, 2026 Sell 2,700 $260.73 $703,971
Mcdonald Wesley S Director February 23, 2026 Sell 566 $250.00 $141,500
Madati Kilandigalu Director November 25, 2025 Sell 269 $259.97 $69,932

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Wingstop Inc. disclosed in the last 12 months; 1 earlier trade on record.

  • Donna Shalala(FL):Sale (full), $1,001 - $15,000, traded June 24, 2019, filed April 27, 2020

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 17, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 29, 2026
  • April 29, 2026
  • February 18, 2026
  • November 4, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Wingstop Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Wingstop Inc. in brief

What does Wingstop Inc. do?
Wingstop Inc. is a US-listed company in the restaurants industry. Its financial year ends in December.
What is Wingstop Inc.'s stock ticker?
Wingstop Inc. trades under the ticker WING on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Wingstop Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Wingstop Inc. reported revenue of $730M, 6.9% higher than a year earlier, according to its SEC filings.
What is Wingstop Inc.'s free cash flow?
Wingstop Inc.'s free-cash-flow margin is 16.0% of revenue over the trailing twelve months, ranking 5 of the 44 restaurants companies we cover.
What is Wingstop Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Wingstop Inc.'s free cash flow after stock-based pay gives ~$68 per share in the base case, and ~$41–$100 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Wingstop Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Blackrock, Inc. and Darsana Capital Partners LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Wingstop Inc. buying back stock, and does it pay a dividend?
Wingstop Inc. spent $165M on share repurchases over the trailing twelve months, and its diluted share count fell 3.5% over the year.
What is Wingstop Inc.'s market cap?
On November 2, 2026, Wingstop Inc.'s market capitalisation was about $4.5B, with a price-to-earnings ratio of 38.2 and net debt of $1.1B. Market figures come from third-party market data and may be delayed.
Does Wingstop Inc. pay a dividend?
Yes: Wingstop Inc. paid $34M in dividends over the trailing twelve months, a dividend yield of 0.77% and a payout ratio of 29.0%.
Who are Wingstop Inc.'s competitors?
In our Restaurants peer group, the companies closest to Wingstop Inc. are Portillo's Inc., Sweetgreen, Inc., ONE Group Hospitality, Inc., El Pollo Loco Holdings, Inc. and Noodles & Co. The side-by-side comparison below sets their revenue, margins and growth against Wingstop Inc.'s.
Are insiders buying or selling Wingstop Inc. stock?
Over the last 12 months, Wingstop Inc.'s directors and officers reported 0 open-market purchases and 7 sales on Form 4. The insider trading page charts every trade.
When is Wingstop Inc.'s next earnings date?
Around February 17, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Wingstop Inc. announces its own schedule.