Wingstop (WING)

What Wingstop does

Wingstop is the largest fast-casual chicken wings-focused restaurant chain in the world, with over 3,050 locations operating primarily through a franchised model. The company generates revenue through royalties, advertising fees, and franchise fees from independent franchisees, as well as from company-owned restaurants. Approximately 98% of Wingstop's restaurants are owned and operated by franchisees, creating an asset-light business model with strong operating margins and low capital requirements.

Fundamentals

• Price$157.71 as of 2026-07-09 close
• Market cap$4.7B as of 2026-07-09
• 1-year return-51.5% as of 2026-07-09 close
• P/E41.75 as of 2026-07-09
• Net margin+15.8% as of 2026-07-09
• Gross margin+86.2% as of 2026-07-09
• ROE+18.1% as of 2026-07-09
• Revenue growth (YoY)+9.0% as of 2026-07-09
• Revenue CAGR (3y)+24.9% SEC XBRL
• Beta1.80 as of 2026-07-09

Dividend: yield +0.8%; 4-year non-decreasing per-share dividend streak (SEC XBRL).

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Key risks (from latest filing)

["Significant debt leverage of $1.21 billion against a total asset base of $649 million, creating substantial financial risk and reducing financial flexibility","Franchise-dependent model creates reliance on franchisee performance and compliance; inability to control franchisee operations directly could impact brand quality and unit growth","Stock price declined 51.5% over the past year, indicating significant investor concerns about growth trajectory and profitability despite 8.96% YoY revenue growth"]

See WING's biggest risks from its latest 10-Q →

Competitors & peers

• Chick-fil-A
• Chipotle (CMG)
• Wingstop has no direct public pure-play competitor; closest public casual dining / QSR comparables include Shake Shack (SHAK), Cracker Barrel (CBRL), and Buffalo Wild Wings (owned by Restauant Brands International, parent of QSR)

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