Does Wingstop Stock Lead the Pack?

WING: Wingstop logo
WING
Wingstop

Wingstop (WING) stock has underperformed over the past year (as of 2/18/2026), trailing several QSR peers. Yet, how does it truly measure up against the rapidly evolving fast-casual landscape? An analysis reveals strong profitability through impressive operating margins and robust revenue growth. However, its premium valuation and relatively lower free cash flow margins compared to some rivals could imply limited upside if more capital-efficient peers maintain momentum.

  • WING’s 26.3% operating margin is high due to its asset-light franchised model, though YUM (30.8%) achieves higher margins via a similar royalty-driven strategy.
  • WING’s 15.6% LTM revenue growth, driven by unit expansion and digital sales, outpaces peers except QSR, which benefits from global footprint.
  • WING’s stock is down 8.4% (PE 44.7), underperforming YUM and QSR, reflecting market growth re-evaluation despite high future growth expectations.

Here’s how Wingstop stacks up across size, valuation, and profitability versus key peers.

  WING DPZ YUM QSR CMG SHAK
Market Cap ($ Bil) 7.8 13.0 45.3 22.6 50.9 3.8
Revenue ($ Bil) 0.7 4.8 8.1 9.3 11.9 1.4
PE Ratio 44.7 22.0 31.3 24.5 33.2 89.0
LTM Revenue Growth 15.6% 3.9% 11.6% 16.8% 5.4% 13.5%
LTM Operating Margin 26.3% 19.1% 30.8% 25.9% 16.9% 5.6%
LTM FCF Margin 9.2% 13.0% 19.4% 15.1% 12.1% 4.6%
12M Market Return -8.4% -18.5% 12.9% 10.5% -28.9% -18.7%

For more details on Wingstop, read Buy or Sell WING Stock. Below we compare WING’s growth, margin, and valuation with peers across years

Trefis

Revenue Growth Comparison

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  LTM 2025 2024 2023 2022
WING 15.6% 36.0% 28.7% 26.6%
DPZ 3.9% 5.1% -1.3% 4.1%
YUM 11.6% 6.7% 3.4% 3.9%
QSR 16.8% 19.7% 7.9% 13.3%
CMG 5.4% 5.4% 14.6% 14.3%  
SHAK 13.5% 15.2% 20.8% 21.7%

Operating Margin Comparison

  LTM 2025 2024 2023 2022
WING 26.3% 26.3% 24.5% 26.0%
DPZ 19.1% 18.7% 18.3% 16.5%
YUM 30.8% 31.8% 32.5% 31.7%
QSR 25.9% 27.6% 30.4% 31.1%
CMG 16.9% 16.9% 17.5% 16.5%  
SHAK 5.6% 4.1% 2.6% -1.0%

PE Ratio Comparison

  LTM 2025 2024 2023 2022
WING 44.7 64.2 120.6 144.9
DPZ 22.0 24.8 28.4 32.6
YUM 31.3 28.7 23.6 28.2
QSR 24.5 21.3 17.1 23.8
CMG 33.2 32.2 53.8 51.3  
SHAK 89.0 316.7 252.5 -137.0

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