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Wingstop
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Latest analysis
Updated Aug 6, 2026
Wingstop expands board to 11 members, appoints PENN Entertainment CEO Jay Snowden.
Wingstop elected Jay Snowden, CEO and President of PENN Entertainment, as a Class II independent director effective August 6, 2026, expanding the board from ten to eleven members. Snowden joins the Audit and Compensation Committees and receives annual cash compensation of $100,000 plus a pro-rated restricted stock grant valued at approximately $112,500, vesting May 21, 2027. The appointment signals potential strategic alignment with an established operator in adjacent consumer-facing industries.
Tone: neutralRevenue
$696.9M
WING 10-K · FY 2025
Employees
1,367
Revenue growth YoY
+11.4%
Founded
1994
Profile
WING 10-K Item 1 · Feb 18, 2026Wingstop is the largest fast casual chicken wings-focused restaurant chain in the world, operating primarily as a franchisor with approximately 98% of its more than 3,050 locations owned and operated by independent franchisees. The company generates revenue through royalties, advertising fees, and franchise fees, complemented by a small base of company-owned restaurants. Its asset-light model is designed to produce strong operating margins and consistent free cash flow.
Read filing description ↓ Collapse description ↑
Wingstop is the largest fast casual chicken wings-focused restaurant chain in the world, with more than 3,050 locations worldwide. The first Wingstop opened in Garland, Texas in 1994, and we began franchising Wingstop restaurants in 1997. Since 2015, Wingstop Inc.'s common stock has traded on the Nasdaq Global Select Market under the symbol 'WING.' We are dedicated to serving the world flavor through an unparalleled guest experience and offering of classic wings, boneless wings, tenders, and chicken sandwiches, always cooked to order, and hand-sauced-and-tossed in 12 bold, distinctive flavors. The Company is primarily a franchisor, with approximately 98% of Wingstop's restaurants currently owned and operated by independent franchisees. We operate in a single segment for reporting purposes and generate revenues by charging royalties, advertising fees, and franchise fees to our franchisees and by operating a number of our own restaurants. We believe our asset-light, highly-franchised business model generates strong operating margins and requires low capital expenditures, creating stockholder value through strong and consistent free cash flow and capital-efficient growth. Our vision is to become a Top 10 Global Restaurant Brand. Based on our internal analysis, we believe there is opportunity for our brand to grow to more than 6,000 restaurants across the United States and to more than 4,000 restaurants internationally.
Primary products
- classic wings
- boneless wings
- tenders
- chicken sandwiches
- seasoned fries
- ranch and bleu cheese dips
Business segments
End markets
Geographies
Named competitors
“Wingstop is the largest fast casual chicken wings-focused restaurant chain in the world, with more than 3,050 locations worldwide.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenue increased 11.4% over the prior fiscal year to $696.9 million, driven by system-wide sales growth of 12.1% and net unit openings of 493 restaurants.
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