Does Wingstop Stock Lead the Pack?
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

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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