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Wingstop WING

Wingstop scores excellent on business quality (8.1 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$122.26Oct 10, 2026
Business qualityExcellent
Next earningsOct 28, 2026, before the open
Insiders, 90 daysQuiet

Why it matters

  1. What Wingstop does

    Wingstop sells cooked chicken wings and sides through a franchised restaurant network, collecting royalties and fees from independent operators.

  2. What it does best

    Wingstop converts franchise revenue into an elite gross margin of 86.3%, outperforming peer BROS at 28.5%. This asset-light model forces franchisees to fund unit growth while the corporate parent pockets high-margin royalty streams.

  3. The main risk

    Rapid unit expansion heavily depends on franchisee appetite for new store openings and access to capital. If inflation or rising operational costs pinch franchisee unit economics, store development could stall.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityStrong

Operating margin hits 28.4%, placing the firm in the 95th sector percentile and driven by low-overhead franchise fees. The asset-light structure yields higher profitability at scale.

MoatStrong

The brand commands a top decile gross margin rank at 99th percentile in its sector, locking in franchisees through high unit profitability that prevents defection.

GrowthFast

Revenue grew 11.3% recently to $721M, building on a multi-year expansion from $249M in 2020. The pace has moderated slightly compared to its earlier historical surge.

Financial healthStrong

Total debt sits at $1.2B against $197M in cash, while free cash flow reached $128M. The balance sheet is getting softer as leverage scales up.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

No open market buys or unplanned sales by executives or directors.

Our sealed record on WING

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is WING a good business?

Wingstop scores excellent on the Cluenex quality check (8.1 of 10), measured against its own industry. Profitability is strong, moat strong, growth fast and financial health strong.

Are insiders buying WING?

In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.

When does WING report earnings?

Oct 28, 2026, before the open.

For members

See WING today

  • Today's verdict on WING, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “Wingstop (WING)”, https://cluenex.com/stocks/wing/, data as of Oct 10, 2026.