Wingstop (WING) Files for $86.25M IPO
Get Alerts WING Hot Sheet
Price: $362.74 -0.55%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.5%
EPS Growth %: +27.1%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.5%
EPS Growth %: +27.1%
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Wingstop Inc. (Nasdaq: WING) filed a registration with the U.S. SEC for an IPO of its Common Stock. The proposed maximum offering price is $86.25 million. The company plans to list on the Nasdaq under the symbol, WING.
The offering is being mad via Morgan Stanley, Jefferies, Baird, Goldman, Sachs & Co., Barclays, and Wells Fargo Securities.
Financial highlights:
- Domestic same store sales increased 13.8% in 2012, 9.9% in 2013 and 12.5% in 2014, representing three year cumulative domestic same store sales growth of 36.2%, driven primarily by an increase in transactions, which demonstrates the growing awareness and popularity of our brand;
- Our domestic same store sales growth is even more meaningful given that we have had 11 consecutive years of positive same store sales;
- From 2012 to 2014, our system-wide sales increased from $457 million to $679 million, which represents growth of 48.4% over the period;
- Total revenue increased from $51.6 million in 2012, to $59.0 million in 2013, to $67.4 million in 2014, our Adjusted EBITDA increased from $15.6 million, to $19.5 million, to $24.4 million, respectively, and our net income grew from $3.6 million, to $7.5 million, to $9.0 million, respectively; and
- From 2012 to 2014, our Adjusted EBITDA margin increased from 30.3% in 2012, to 33.0% in 2013, to 36.1% in 2014, while our capital expenditures were 3.1%, 3.6% and 2.2% of revenue, respectively, leading to high cash flow conversion.
Wingstop is a high-growth franchisor and operator of restaurants that specialize in cooked-to-order, hand-sauced and tossed chicken wings.
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