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Throughout this report, unless the context indicates otherwise, Wingstop Inc. (NASDAQ: WING) and its consolidated subsidiaries are referred to as the Company, Wingstop, or in the first-person notations of we, us, and our. General Wingstop is the largest fast casual chicken wings-focused restaurant chain in the world, with more than 3,050 locations worldwide.
$140.41
+$7.76 (+5.85%)
Price from 12 days ago
25.73% operating margin is above average. ROIC at 9.18%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue grew 11.4%, still solid.
At 35x earnings, the current multiple leaves limited room for execution misses or growth deceleration. ROIC dropped from 12.73% to 9.18%, capital efficiency is deteriorating.
34.7x earnings, 29.3x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$709M
▲ +11.4% YoY
Net Income (TTM)
$112M
▲ +60.3% YoY
Op. Margin
26.98%
▼ -0.7pp YoY
ROIC
11.71%
▼ -3.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$132M
Op. Cash Flow (TTM)
$189M
▼ -2.9% YoY
Net Debt
$1.14B
Cash & Equiv.
$129M
5Y CAGR: +22.9%
5Y CAGR: +12.2%
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