btlines

WING Nasdaq Russell 1000 Earnings call

Wingstop (WING) · Q2 2026 results and valuation

Share price: $166.73 · 2026-11-11

Results Q2 2026 vs Q1 2026 · previous quarter · published 29 Jul 2026 and 29 Apr 2026

Net income up 4.7% on the previous quarter. Management sounded about as positive as a typical company call, in its script and in answers to analysts.

Only a basic analysis is available for this company at the moment.

1 · Numbers

+4.7%

Net income vs Q1 2026

Outlook given

Net income 31.3M vs 29.9M

Revenue +1.0%

2 · How management spoke

Typical

Less upbeat than 58% of company calls

Answers to analysts: restrained, in line with the script.

Similar to last call.

3 · What stood out

Figure

Satisfaction scores improved in 89% of the market where the promotion ran during the second quarter of 2026.

Valuation

Is Wingstop undervalued?

Reverse DCF. Free cash flow from the last full fiscal year (2025-12-27), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.

At 20.0% growth a year (3-year revenue growth), the model's fair value is $151.27 a share — the stock trades 10% above it. Today's price assumes 21.1% growth a year.

Current price

$166.73

close of 2026-11-11

Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.

+21.1% for 10 yrs

Fair value / share

$151.27

Buy below

$113.45

Price vs fair value

Overvalued 10%

Price vs buy-below price

Overvalued 47%

Official channels

The company's own website and social media accounts.

Read between the lines

  1. Key theme

    Increased flavor innovation aims to drive more visits by stressing quality, abundance and value per person.

    Source quote
    “We also saw you also saw us increase the frequency of flavor innovation and we see measurable increases in the rate... ...And so it tells us, David, that quality, flavor, abundance and the value per person are key to winning more occasions for us. So another key indicator of how we can protect our core consumer.”
  2. Guidance

    These restaurants operate at volumes more representative of the broader system average than its existing company-owned portfolio and Wingstop expects to invest behind operations as it integrates them.

Tone

How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.

Prepared remarks Typical (was typical)
Answers to analysts Restrained (was typical)

Script and answers carried a similar tone, so the script's message held up under questioning.

Sentences that drove the tone
“We also saw you also saw us increase the frequency of flavor innovation and we see measurable increases in the rate of repeat visits within the first 90 days when...”
“We are also excited to announce that we have signed a development agreement to expand into Poland, a market with an opportunity of more than 100 restaurants.”
“And we have a strong pipeline of flavor innovation in the back half of the year that we are we are really excited about.”

Full figures

USD · SEC EDGAR XBRL (10-Q, period end 2026-06-27)

Metric Q2 2026period end 2026-06-27 Q1 2026period end 2026-03-28 Change Q2 2025 YoY
Revenue 185.6M 183.7M +1.0% 174.3M +6.4%
Operating income 54.6M 50.4M +8.4% 45.2M +20.8%
Net income 31.3M 29.9M +4.7% 26.8M +16.9%
EPS 1.15 1.08 +6.5% 0.96 +19.8%
P/E today 25.3 39.4 38.1 +1.3 57.9 −18.5

Topics

Most discussed now

  • Wingstop continues to take a disciplined approach to invest in talent and capabilities that it believes will support sustainable…
  • However, system-wide sales grew 5.3% to approximately $1.4 billion supported by continued net new restaurant openings across the system.
  • What you saw us do in the second quarter was really bring forward value messaging.
  • They saw compelling value in building their own bundles and then knowing that the value they were getting on the...
  • The recent inflation again Wingstop has seen in gas prices but what I would really point you to is as...

Faded since Q1 2026

  • Dropped Wingstop is seeing that fastest growing cohort at $50,000 to $100,000.
  • Dropped Wingstop did that in ways of highlighting flavor under $10, where it has its chicken sandwich combo and a tender...
  • Fading As I step back and assess the current state of the business, Wingstop is making significant progress against its strategic...
  • Fading Wingstop is seeing measurable improvements in speed, accuracy and consistency that are being enabled by the Wingstop Smart Kitchen along...

Latest announcements

Official filings, newest first.

Similar companies

Consumer Cyclical · Restaurants
All Consumer Cyclical companies →