Wingstop Inc., together with its affiliated companies, manages and licenses a network of restaurants known by the Wingstop brand. These establishments are ...
Wingstop Inc. (NASDAQ: WING) is a leading fast-casual restaurant chain focused on chicken wings, with a mission to 'serve the world flavor.' Founded in 1994 in Garland, Texas, by Antonio Swad, the company has grown significantly, expanding to over 3,000 locations worldwide by 2026. The brand is recognized for its ...Wingstop Inc. (NASDAQ: WING) is a leading fast-casual restaurant chain focused on chicken wings, with a mission to 'serve the world flavor.' Founded in 1994 in Garland, Texas, by Antonio Swad, the company has grown significantly, expanding to over 3,000 locations worldwide by 2026. The brand is recognized for its made-to-order classic bone-in wings, boneless wings, and tenders, hand-tossed in 12 bold, distinctive sauces. Wingstop operates primarily through a franchise model, with franchise locations accounting for the vast majority of its footprint, contributing to a highly scalable and asset-light business. As of Q4 2021, the company reported 1,695 franchise locations and 36 company-owned stores across 44 U.S. states and seven countries. Financially, Wingstop has demonstrated robust performance, with a market capitalization of approximately $3.18 billion, a trailing twelve-month revenue per share of $26.46, and a net profit margin of 16.2%. The company's financial metrics indicate strong operational efficiency, with a gross profit margin of 73.1% and an operating profit margin of 28.7%. Wingstop's growth strategy includes domestic and international expansion, menu innovation, and a focus on digital sales, which have been boosted by its loyalty program and delivery partnerships. Key leadership includes CEO Michael J. Skipworth, who took the role in March 2022, and the company is headquartered in Addison, Texas. Wingstop went public in June 2015 and has since been a notable performer in the restaurant industry, with a beta of 1.78 suggesting higher volatility relative to the market. The company's employee base, though relatively small at around 1,367, is supported by a vast franchise network, making it a formidable player in the sector.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$696.9M
+11.4%
+1.0%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$174.3M
+60.3%
+4.7%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+82.6%
+71.8%
-44.8%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+27.6%
+4.2%
+1.4%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+25.0%
+44.0%
+3.7%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$105.6M
-0.1%
-125.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+15.2%
-10.2%
-125.6%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
-172.4%
+7.9%
-3.6%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
3.26x
-27.9%
+32.3%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good morning, ladies and gentlemen. and thank you for standing by. Welcome to Wingstop-- excuse me, Wingstop Inc.'s Fiscal Second Quarter 2026 Earnings Conference Call. All participants will be in listen-only mode. Please signal a conference specialist by pressing the star key followed by 0. Please note that this conference is being recorded today. Wednesday, July 29, 2026. On the call today are Michael J. Skipworth, President and Chief Executive Officer; Alex Kaleida, Senior Vice President and Chief Financial Officer; and Sarah Niehaus, Senior Director of Investor Relations. I would now like to turn the conference over to Sarah. Please go ahead. Thank you.
Sarah Niehaus: Thank you, and welcome to the fiscal second quarter 2026 earnings conference call for Wingstop. Our results were published earlier this morning, and are available on our investor relations website at ir.wingstop.com. Our discussion today includes forward-looking statements. These statements are not guarantees of future performance, and are subject to numerous risks and uncertainties that could cause our actual results to differ materially from what we currently expect. Our SEC filings describe various risks that could affect our future operating results and financial condition. We use certain non-GAAP financial measures that we believe can be useful in evaluating our performance. Presentation of such information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. Reconciliations to comparable GAAP measures are contained in our earnings release. Lastly, for the Q&A session, we ask that each of you please keep to one question and a follow-up. To allow as many participants as possible to ask a question. With that, I would like to turn the call over to Michael.
Michael J. Skipworth: Thank you, Sarah. Good morning, everyone, and thank you for joining us. I would like to start the call by taking a moment to recognize our brand partners, restaurant teams and global support center team members. I have previously described 2026 as a transformational year for Wingstop. From operationalizing Wingstop's Smart Kitchen, a new kitchen operating platform that completely changed our back-of-house operations to the national launch of Club Wingstop, our first loyalty program. The commitment from our brand partners and team members has been impressive. All of this while operating in this evolving consumer environment. This is a direct reflection of the resilience and incredible commitment of team members across the system and demonstrates the shared excitement around the future for Wingstop. While we have continued to strengthen the business for the long-term, our financial performance this quarter fell short of our expectations. With second quarter same-store sales declining 7.5%. The pressure on our core guests remained more pronounced than we anticipated. At the same time, the quarter gave us greater clarity about what is driving our …
