Wingstop Inc.WING
NasdaqGS•Consumer Cyclical•Restaurants
Wingstop Inc., together with its subsidiaries, franchises and operates restaurants under the Wingstop brand in United States, Australia, Bahrain, Kuwait, Puerto Rico, Saudi Arabia, and The Netherlands. Its restaurants provides classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches, fries, and hand-cut carrots and celery that are cooked-to-order. The company was founded in 1994 and is headquartered in Dallas, Texas.
Wingstop Inc. (WING) reported trailing twelve months revenue of $709.48M as of March 2026, a 9.0% increase year-over-year. Quarterly revenue reached $183.72M, reflecting continued top-line momentum.
Wingstop Inc. generated $111.89M in TTM net income, with quarterly EBITDA of $57.25M. The operating margin expanded from 22.4% to 27.4%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (27.4%) and net margin (16.3%) indicates moderate non-operating costs. Net margin has narrowed from 53.9% a year ago, reflecting increased costs or interest expense.
WING trades at a P/E of 40.8x (a premium multiple) and a P/S of 6.4x.
The company generated $43.66M in free cash flow over the trailing twelve months, a 152.8% increase year-over-year, indicating cash generation ability. The balance sheet shows $648.89M in total assets with $1.21B in long-term debt against $-799.17M in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~25.9%, suggesting durable pricing power and cost discipline.
Limited ROE data for a reliable assessment.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (7 of 7 quarters up), with ~30.0% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~27.0% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Shares decreased 6.3% — net buybacks are reducing shares outstanding and boosting per-share value.