Wingstop Inc (WING)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	273,813	264,450	248,277	234,803	224,865	194,617	169,913	158,711	159,891	147,477	146,821	142,618	128,943	157,562	148,669	133,740	129,571	116,894	110,806	105,425
Revenue (ttm)	US$ in thousands	460,055	437,865	413,433	390,037	357,521	324,682	297,794	288,017	282,502	273,756	271,960	264,065	248,811	238,715	224,602	207,059	199,676	186,999	175,370	163,845
Gross profit margin		59.52%	60.40%	60.05%	60.20%	62.90%	59.94%	57.06%	55.10%	56.60%	53.87%	53.99%	54.01%	51.82%	66.00%	66.19%	64.59%	64.89%	62.51%	63.18%	64.34%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $273,813K ÷ $460,055K
= 59.52%

Wingstop Inc's gross profit margin has shown some fluctuations over the past few quarters. From December 2019 to March 2020, the gross profit margin was relatively stable, ranging from 62.51% to 64.89%. However, a significant increase was observed in June 2020 when the gross profit margin reached 66.00%, which was sustained in September 2020 at 66.19%.

Subsequently, there was a decline in the gross profit margin, with fluctuations between 51.82% and 60.40% from March 2021 to September 2023. Despite these fluctuations, the gross profit margin generally remained above 50%, indicating that Wingstop Inc has been able to maintain healthy profitability from its core business operations.

Overall, the trend shows that Wingstop Inc has displayed resilience in maintaining a reasonable level of gross profit margin, although there have been fluctuations in recent quarters. Further analysis of the company's cost structure and pricing strategies may provide insights into the factors influencing these fluctuations.