HIGHOutside partySupplier
single distributor
“10-K Item 1: 'All food items and packaging goods for Wingstop restaurants in the U.S. are currently supplied through one distributor'”
WING · Concentration risk · 10-K extracted
Wingstop (WING) concentration risks
Updated
The most significant concentration Wingstop discloses is single distributor, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Wingstop’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH1
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inCommodity
chicken
“10-K Item 1: 'chicken is our largest product cost item and represented approximately 57.2% of all purchases for the 2025 fiscal year'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company carries two interlocking supply-side concentrations that together define the primary risk in its disclosed profile. On the distribution side, all food items and packaging goods for U.S. restaurants are currently supplied through one distributor — a high-share dependency exposure by disclosed size. The single-distributor arrangement means that a service disruption, financial failure, or contractual breakdown with that counterparty would have no immediate backup channel for U.S. restaurant supply, creating real operational risk. Layered beneath that is a commodity exposure: chicken is the largest product cost item and represented approximately 57.2% of all purchases for the 2025 fiscal year — a medium-share structural concentration by disclosed size. The character here is structural rather than idiosyncratic: the menu is built around chicken, so this cost exposure cannot be diversified away without changing the fundamental offering. Commodity price swings in chicken therefore pass through to food costs more directly than they would for a more diversified menu. Together, the two exposures reinforce each other — the single distributor controls delivery of the dominant commodity input. The relevant monitoring variables are the distributor relationship's contract terms and renewal trajectory, and spot-plus-forward pricing trends in chicken, which is the largest lever on unit economics.
For the engine’s reasoning on WING’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Restaurants
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| DPZ | Domino's Pizza Inc | 3 | 1 | 0 | 4 |
| WING● | Wingstop Inc. | 1 | 1 | 0 | 2 |
| CMG | Chipotle Mexican Grill, Inc. | 0 | 1 | 1 | 2 |
| BROS | Dutch Bros Inc. | 0 | 1 | 0 | 1 |
| CAKE | The Cheesecake Factory Incorpor | 0 | 0 | 0 | 0 |
| CAVA | CAVA Group, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.