WING Wingstop Inc. - Common Stock
$122.39
Price · Aug 19, 2026
Fundamentals as of Jul 29, 2026
52W Range
$110–$342
5% of range
Analyst Rating
STRONG BUY
35 analysts
Price Target
$207
+69% upside
P/E (TTM)
19.5
ROE
-24.5%
Net Profit Margin
25.0%
About Wingstop Inc. - Common Stock Company overview from Wikipedia
Wingstop Inc. is an American international fast food chain that primarily sells buffalo wings. Wingstop locations are decorated with a 1930s and 1940s pre-jet aviation theme.
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Wingstop Inc. is an American international fast food chain that primarily sells buffalo wings. Wingstop locations are decorated with a 1930s and 1940s pre-jet aviation theme.
The restaurant chain was founded in 1994 in Garland, Texas, and began offering franchises in 1997. As of 2026, Wingstop had over 3,000 restaurants in the world. The chain is headquartered in Addison, Texas. In 2003, the chain was acquired by Gemini Investors, which sold it to Roark Capital Group in 2010. Wingstop went public in 2015.
History
Wingstop was founded in 1994 in Garland, Texas by Antonio Swad and Bernadette Fiaschetti. The first franchised location opened in 1997, and by 2002, the brand claimed to have served two million wings. In 2005, Wingstop began serving lunch, and in 2009 it began selling boneless products.
Between 2014 and 2016, Wingstop was the third-fastest-growing restaurant chain in the US as measured by both system-wide sales and unit growth, according to Nation's Restaurant News. In 2015, Wingstop went public at an initial public offering price of $19 per share. That year, their profits more than doubled.
In 2019, Wingstop began using the tagline Where Flavor Gets Its Wings. The next year, Wingstop became available for delivery in Dallas, Texas through DoorDash As of 2019, the Wingstop Team Member Foundation acted as an employee-funded nonprofit that gave money to other employees experiencing financial hardship due to an emergency.
On June 21, 2021, WingStop announced a digital-only restaurant called ThighStop, which sells chicken thighs instead of wings. The company cited cost-saving measures as the reason for the change.
International operations
Wingstop opened its first international restaurant in Mexico in 2010.
In April 2013, Wingstop announced that they are opening the first store in Southeast Asia, starting in Singapore. In February 2014, Wingstop announced the opening of stores in the Philippines. The first Philippine store opened in June 2014. In the same month, plans were announced for Wingstop to open in Indonesia with 100 stores by 2021.
Franchises began opening in London, UK in 2018 and have now grown to 20 locations in the Greater London area. Originally introduced to England by Lemon Pepper Holdings, the majority stakeholder in the franchise is now Sixth Street Partners - the same investment firm that owns the Far West Services franchises on the US West Coast.
In 2021, Wingstop made an agreement with JPK Capital to develop 100 Wingstop locations in Canada. The first restaurant in Canada opened in June 2022.
In May 2022, Wingstop announced plans to enter South Korea.
As of November 26, 2025, Wingstop operates in 15 countries internationally. Recent expansions include Australia, Bahrain, Kuwait, Puerto Rico, Saudi Arabia, and the Netherlands. On this same day, Wingstop reiterated its intentions to expand into Thailand, Italy and Ireland.
The first Wingstop in Australia opened on May 17, 2025. The first Dutch outlet opened on August 8 2025, at Amsterdam Airport Schiphol. The first Irish outlet on December 8, 2025 at Dublin's Liffey Valley shopping centre. On December 13, 2025, Wingstop entered the Thailand market, in MBK Center.
Products
Wingstop's menu includes a wide range of chicken products such as bone-in and boneless wings, chicken tenders, and fried chicken sandwiches.
There are 13 wing sauces, with some sauces available for limited periods as part of marketing efforts.
Sides include fries, fried corn, and veggie sticks (carrots and/or celery). Sauces include ranch, blue cheese, honey mustard, and cheese sauce.
The menu also includes chocolate brownies as a dessert option.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
WING Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$122.39
Market Cap
$3.33B
P/E (TTM)
19.5
EPS (TTM)
$6.21
Revenue (TTM)
$697M
Div Yield
0.97%
ROE
-24.5%
Debt/Equity
-1.6
52W Range
$110 – $342
WING Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$697M
2016-12-31
→
2025-12-27
EPS
$6.21
2016-12-31
→
2025-12-27
Free Cash Flow
$106M
2016-12-31
→
2025-12-27
Margins
25.0%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
WING
Peer Median
P/E (TTM)
19.5
27.5
P/S (TTM)
4.8
2.1
P/B
-4.5
9.6
EV / EBITDA
21.3
—
Price / FCF
31.6
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
WING
Peer Median
Operating Margin
25.7%
—
Net Profit Margin
25.0%
7.7%
ROA
24.7%
11.1%
ROE
-24.5%
31.4%
ROIC
27.9%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
WING
Peer Median
Debt / Equity
-1.6
0.0
Current Ratio
3.3
1.2
Quick Ratio
2.7
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
WING
Peer Median
Revenue YoY
11.3%
—
Revenue CAGR 3Y
24.9%
—
Revenue CAGR 5Y
22.9%
—
EPS YoY
67.8%
—
Net Income YoY
60.3%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
WING
Peer Median
Payout Ratio
18.6%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
0.97%
Payout Ratio
18.6%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| Aug. 14, 2026 | $0.3300 |
| May 15, 2026 | $0.3000 |
| March 6, 2026 | $0.3000 |
| Nov. 21, 2025 | $0.3000 |
| Aug. 15, 2025 | $0.3000 |
| May 16, 2025 | $0.2700 |
| March 7, 2025 | $0.2700 |
| Nov. 15, 2024 | $0.2700 |
| Aug. 16, 2024 | $0.2700 |
| May 16, 2024 | $0.2200 |
| March 7, 2024 | $0.2200 |
| Nov. 16, 2023 | $0.2200 |
| Aug. 17, 2023 | $0.2200 |
| May 18, 2023 | $0.1900 |
| March 9, 2023 | $0.1900 |
| Nov. 9, 2022 | $0.1900 |
| Aug. 11, 2022 | $0.1900 |
| May 19, 2022 | $0.1700 |
| March 23, 2022 | $4.0000 |
| March 10, 2022 | $0.1700 |
WING Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
35 analysts
- Strong Buy 15 42.9%
- Buy 14 40.0%
- Hold 6 17.1%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
27 analysts · 2026-08-19
Median
$200.00
← Below all targets
$122.39
Low
$143.00
High
$300.00
Median target
$200.00
+63.4%
Mean target
$206.59
+68.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.13%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $1.18 | $1.05 | 0.13% |
| March 31, 2026 | $1.18 | $1.05 | 0.13% |
| Dec. 31, 2025 | $1.00 | $0.85 | 0.15% |
| Sept. 30, 2025 | $1.09 | $0.95 | 0.14% |
| June 30, 2025 | $1.00 | $0.88 | 0.12% |
| March 31, 2025 | $0.99 | $0.88 | 0.11% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| WING | $7.06B | 41.3 | 11.3% | 25.0% | -24.5% | — |
| EAT | $7.86B | 21.2 | 21.9% | 7.1% | 152.5% | — |
| BROS | — | 95.7 | 27.9% | 4.9% | 13.1% | — |
| CAVA | $6.99B | 111.4 | 22.4% | 5.4% | 8.3% | — |
| CAKE | $2.50B | 16.5 | 4.8% | 4.0% | 33.7% | — |
| SHAK | — | 74.5 | 15.4% | 3.2% | 9.2% | — |
| BJRI | $837M | 18.3 | 3.1% | 3.5% | 13.0% | — |
| WEN | $1.59B | 9.8 | -3.1% | 7.6% | 143.4% | — |
| CBRL | $1.31B | 28.7 | 0.37% | 1.3% | 10.1% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $697M | $626M | $460M | $358M | $283M | $249M | $200M | $153M | $133M | $103M | $78M | $67M | |
| Cost of Revenue | · | $92M | $71M | $63M | $57M | $49M | $41M | $32M | $29M | $25M | $22M | $20M | |
| SG&A Expense | $128M | $117M | $97M | $67M | $63M | $61M | $50M | $45M | $35M | $35M | $33M | $26M | |
| Operating Expenses | · | · | · | · | · | · | · | $115M | $99M | $77M | $58M | $49M | |
| Operating Income | $179M | $166M | $113M | $92M | $74M | $57M | $43M | $39M | $34M | $27M | $20M | $18M | |
| Other Non-op | $94M | $3M | $-57.0K | $-573.0K | $135.0K | $0 | $0 | $-1M | $0 | $-254.0K | $-396.0K | $-84.0K | |
| Pretax Income | $237M | $147M | $94M | $69M | $59M | $27M | $26M | $27M | $29M | $22M | $16M | $14M | |
| Income Tax | $63M | $38M | $24M | $16M | $16M | $4M | $5M | $5M | $5M | $8M | $6M | $5M | |
| Net Income | $174M | $109M | $70M | $53M | $43M | $23M | $20M | $22M | $24M | $14M | $10M | $9M | |
| EPS (Basic) | $6.23 | $3.72 | $2.36 | $1.77 | $1.43 | $0.79 | $0.70 | $0.74 | $0.82 | $0.48 | $0.37 | $0.35 | |
| EPS (Diluted) | $6.21 | $3.70 | $2.35 | $1.77 | $1.42 | $0.78 | $0.69 | $0.73 | $0.82 | $0.47 | $0.36 | $0.34 | |
| Shares (Basic) | 27,974,000 | 29,262,000 | 29,769,000 | 29,893,000 | 29,769,000 | 29,601,000 | 29,415,000 | 29,231,000 | 29,025,000 | 28,637,000 | 27,497,000 | 25,846,000 | |
| Shares (Diluted) | 28,074,000 | 29,384,000 | 29,856,000 | 29,963,000 | 29,944,000 | 29,804,000 | 29,670,000 | 29,587,000 | 29,424,000 | 28,983,000 | 27,816,000 | 26,204,000 | |
| EBITDA | $204M | $185M | $126M | $103M | $82M | $65M | $48M | $43M | $40M | $32M | $22M | · |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $197M | $316M | $90M | $184M | $49M | $41M | $13M | $12M | $4M | $4M | $11M | $10M | |
| Receivables | $21M | $20M | $12M | $9M | $7M | $5M | $5M | $6M | $5M | $3M | $3M | $2M | |
| Inventory | · | · | $535.0K | $389.0K | $484.0K | $396.0K | $315.0K | $299.0K | $216.0K | $226.0K | $182.0K | $175.0K | |
| Prepaid Expense | $8M | $7M | $5M | $4M | $5M | $6M | $2M | $2M | $4M | $2M | $2M | $1M | |
| Other Current Assets | · | · | · | · | · | · | · | · | · | $0 | $385.0K | $0 | |
| Current Assets | $267M | $396M | $144M | $227M | $70M | $73M | $30M | $30M | $16M | $11M | $20M | $17M | |
| PP&E (Net) | $131M | $126M | $91M | $67M | $55M | $28M | $28M | $8M | $6M | $5M | $5M | $4M | |
| PP&E (Gross) | $188M | $172M | $133M | $98M | $77M | $46M | $44M | $21M | $16M | $14M | $13M | $11M | |
| Accum. Depreciation | $58M | $46M | $42M | $31M | $23M | $18M | $16M | $13M | $11M | $9M | $8M | $7M | |
| Goodwill | $84M | $75M | $68M | $63M | $57M | $54M | $50M | $50M | $47M | $45M | $45M | $45M | |
| Intangibles | $57M | $52M | $49M | $46M | $46M | $49M | $49M | $51M | $50M | $50M | $51M | $52M | |
| Other Non-current Assets | $43M | $30M | $15M | $26M | $25M | $13M | $12M | $5M | $3M | $943.0K | $313.0K | $997.0K | |
| Total Assets | $693M | $716M | $378M | $424M | $249M | $212M | $166M | $140M | $120M | $112M | $121M | $119M | |
| Accounts Payable | $13M | $7M | $5M | $5M | $5M | $4M | $3M | $3M | $2M | $1M | $1M | $2M | |
| Current Liabilities | $82M | $87M | $71M | $62M | $40M | $50M | $33M | $26M | $19M | $17M | $13M | $16M | |
| Capital Leases | $58M | $58M | $18M | $14M | $14M | $5M | $8M | · | · | · | · | · | |
| Deferred Tax | $33M | $1M | $4M | $4M | $7M | $4M | $4M | $5M | $6M | $12M | $13M | $14M | |
| Other Non-current Liabilities | $169.0K | $57.0K | $187.0K | $15M | $14M | $6M | $8M | $2M | $2M | $2M | $2M | $2M | |
| Total Liabilities | $1.43B | $1.39B | $835M | $815M | $559M | $553M | $376M | $365M | $178M | $186M | $130M | $128M | |
| Long-term Debt | $1.22B | $1.22B | $721M | $725M | $478M | $480M | $318M | $320M | $134M | $151M | $96M | $94M | |
| Total Debt | $1.21B | $1.21B | $712M | $714M | $469M | $471M | $311M | $312M | $133M | $151M | $96M | · | |
| Common Stock | $275.0K | $287.0K | $293.0K | $300.0K | $299.0K | $297.0K | $295.0K | $293.0K | $291.0K | $287.0K | $286.0K | $261.0K | |
| Paid-in Capital | $2M | $2M | $3M | $3M | $463.0K | $421.0K | $552.0K | $1M | $262.0K | $1M | $37M | $2M | |
| Retained Earnings | $-745M | $-677M | $-460M | $-393M | $-310M | $-342M | $-210M | $-226M | $-59M | $-76M | $-47M | $-12M | |
| AOCI | $6M | $-501.0K | $-341.0K | $-637.0K | $-256.0K | $0 | · | · | · | · | · | · | |
| Stockholders' Equity | $-737M | $-676M | $-457M | $-391M | $-310M | $-341M | $-209M | $-225M | $-58M | $-81M | $-15M | $-9M | |
| Liabilities + Equity | $693M | $716M | $378M | $424M | $249M | $212M | $166M | $140M | $120M | $112M | $121M | $119M | |
| Shares Outstanding | 27,540,619 | 28,662,614 | 29,337,920 | 29,932,668 | 29,837,454 | 29,687,123 | 29,457,228 | 29,296,939 | 29,092,669 | 28,747,392 | 28,581,182 | 26,101,755 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $25M | $19M | $13M | $11M | $8M | $8M | $5M | $4M | $3M | $3M | $3M | $3M | |
| Stock-based Comp | $25M | $22M | $16M | $4M | $10M | $9M | $7M | $4M | $2M | $1M | $1M | $960.0K | |
| Amort. of Intangibles | $4M | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | |
| Other Non-cash | $-71M | $7M | $23M | $8M | $-11M | $26M | $6M | $9M | $-5M | $2M | $-896.0K | · | |
| Operating Cash Flow | $153M | $158M | $122M | $76M | $49M | $66M | $39M | $39M | $27M | $22M | $14M | $14M | |
| CapEx | $47M | $52M | $41M | $24M | $28M | $6M | $22M | $4M | $3M | $2M | $2M | $2M | |
| Investing Cash Flow | $-17M | $-62M | $-52M | $-29M | $-30M | $-8M | $-24M | $-10M | $-6M | $-2M | $-2M | $-363.0K | |
| Debt Issued | $0 | $500M | $0 | $250M | $0 | $496M | $5M | $551M | $4M | $165M | $40M | $0 | |
| Net Debt Issued | $0 | $500M | $-4M | $247M | $-2M | $162M | $-2M | $186M | $-18M | $56M | $2M | · | |
| Stock Issued | · | · | · | · | · | · | · | · | $0 | $0 | $35M | $0 | |
| Stock Repurchased | $222M | $315M | $125M | $0 | $0 | · | · | · | · | · | · | · | |
| Net Stock Activity | $-222M | $-315M | $-125M | · | · | · | · | · | $0 | $0 | $35M | · | |
| Dividends Paid | $32M | $29M | $25M | $141M | $20M | $164M | $12M | $191M | $4M | $83M | $48M | $0 | |
| Financing Cash Flow | $-267M | $145M | $-155M | $103M | $-23M | $-19M | $-15M | $-14M | $-20M | $-28M | $-11M | $-7M | |
| Net Change in Cash | $-131M | $240M | $-86M | $151M | $-4M | $38M | $235.0K | $15M | $699.0K | $-8M | $967.0K | $7M | |
| Taxes Paid | $27M | · | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $106M | $106M | $81M | $52M | $21M | $59M | $16M | $35M | $25M | $20M | $11M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 25.7% | 26.5% | 24.5% | 25.7% | 26.1% | 23.1% | 21.5% | 25.1% | 34.4% | 32.0% | 25.3% | · | |
| Net Margin | 25.0% | 17.4% | 15.2% | 14.8% | 15.1% | 9.4% | 10.2% | 14.2% | 25.9% | 16.9% | 13.0% | · | |
| Pretax Margin | 34.0% | 23.5% | 20.5% | 19.4% | 20.8% | 10.8% | 12.9% | 17.6% | 29.5% | 26.9% | 20.3% | · | |
| EBITDA Margin | 29.3% | 29.6% | 27.4% | 28.8% | 28.9% | 26.1% | 24.2% | 28.0% | 37.6% | 35.3% | 28.7% | · | |
| ROA | 24.7% | 19.9% | 17.5% | 15.7% | 18.5% | 12.3% | 13.4% | 16.7% | 23.6% | 13.3% | 8.4% | · | |
| ROE | -24.5% | -19.4% | -15.0% | -13.6% | -13.7% | -8.9% | -9.7% | -12.0% | -42.1% | -34.5% | -108.3% | · | |
| ROIC | 27.9% | 23.1% | 32.9% | 21.7% | 33.4% | 38.4% | 33.6% | 35.7% | 37.4% | 24.1% | 14.6% | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.3 | 4.5 | 2.0 | 3.6 | 1.8 | 1.4 | 0.9 | 1.1 | 0.8 | 0.7 | 1.6 | · | |
| Quick Ratio | 2.7 | 3.8 | 1.4 | 3.1 | 1.4 | 0.9 | 0.5 | 0.7 | 0.5 | 0.4 | 1.1 | · | |
| Debt / Equity | -1.6 | -1.8 | -1.6 | -1.8 | -1.5 | -1.4 | -1.5 | -1.4 | -2.8 | -2.0 | -9.9 | · | |
| LT Debt / Equity | -1.6 | -1.8 | -1.6 | -1.8 | -1.5 | -1.4 | -1.5 | -1.4 | -2.7 | -2.0 | -9.9 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.0 | 1.1 | 1.1 | 1.1 | 1.2 | 1.3 | 1.3 | 1.2 | 0.9 | 0.8 | 0.6 | · | |
| Inventory Turnover | · | · | 152.9 | 145.2 | 130.5 | 136.7 | 133.9 | 124.5 | 130.1 | 124.1 | 124.5 | · | |
| Receivables Turnover | 34.4 | 39.0 | 42.1 | 43.5 | 47.4 | 49.2 | 36.5 | 29.7 | 27.2 | 27.7 | 27.0 | · |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 11.3% | 36.0% | 28.7% | 26.6% | 13.5% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 24.9% | 30.4% | 22.7% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 22.9% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 67.8% | 57.5% | 32.8% | 24.6% | 82.0% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 51.9% | 37.6% | 44.4% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 51.4% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 60.3% | 54.9% | 32.5% | 24.1% | 83.0% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 48.8% | 36.6% | 44.4% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 49.5% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | -27.7% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $697M | $626M | $460M | $358M | $283M | $249M | $200M | $153M | $133M | $103M | $78M | · | |
| Net Income TTM | $174M | $109M | $70M | $53M | $43M | $23M | $20M | $22M | $24M | $14M | $10M | · | |
| Market Cap | $7.06B | $8.18B | $7.53B | $4.12B | $5.16B | $4.18B | $2.54B | $1.89B | $1.13B | $851M | $645M | · | |
| Enterprise Value | $8.07B | $9.07B | $8.15B | $4.65B | $5.58B | $4.61B | $2.84B | $2.19B | $1.26B | $998M | $730M | · | |
| P/E | 41.3 | 77.1 | 109.2 | 77.8 | 121.8 | 180.5 | 124.9 | 88.5 | 47.5 | 63.0 | 62.7 | · | |
| P/S | 10.1 | 13.1 | 16.4 | 11.5 | 18.3 | 16.8 | 12.7 | 12.4 | 8.5 | 8.2 | 8.3 | · | |
| P/B | -9.6 | -12.1 | -16.5 | -10.5 | -16.7 | -12.2 | -12.1 | -8.4 | -23.5 | -11.4 | -66.7 | · | |
| P / Cash Flow | 46.1 | 51.9 | 61.9 | 54.0 | 105.6 | 63.8 | 65.8 | 48.8 | 41.9 | 38.4 | 49.4 | · | |
| P / FCF | 66.8 | 77.4 | 93.2 | 78.8 | 247.4 | 70.3 | 157.8 | 54.4 | 46.3 | 42.3 | 57.9 | · | |
| EV / EBITDA | 39.5 | 49.0 | 64.8 | 45.2 | 68.3 | 71.0 | 58.6 | 51.2 | 31.9 | 31.0 | 32.6 | · | |
| EV / FCF | 76.4 | 85.8 | 100.9 | 88.9 | 267.6 | 77.5 | 176.3 | 63.0 | 51.5 | 49.6 | 65.5 | · | |
| EV / Revenue | 11.6 | 14.5 | 17.7 | 13.0 | 19.8 | 18.5 | 14.2 | 14.3 | 9.5 | 9.7 | 9.4 | · | |
| Dividend Yield | 0.46% | 0.35% | 0.33% | 3.4% | 0.38% | 3.9% | 0.46% | 10.1% | 0.36% | 9.8% | 7.4% | · | |
| Earnings Yield | 2.4% | 1.3% | 0.92% | 1.3% | 0.82% | 0.55% | 0.80% | 1.1% | 2.1% | 1.6% | 1.6% | · | |
| Payout Ratio | 18.6% | 26.6% | 35.5% | 266.8% | 46.5% | 702.8% | 57.4% | 878.2% | 14.9% | 539.5% | 475.0% | · | |
| Annual Payout | $32M | $29M | $25M | $141M | $20M | $164M | $12M | $191M | $4M | $83M | $48M | · |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $186M | $184M | $176M | $176M | $174M | $171M | $162M | $162M | $156M | $146M | $127M | $117M | $109M | $105M | $93M | |
| Cost of Revenue | · | · | · | · | · | · | · | $24M | $23M | $21M | · | $18M | $17M | $17M | $16M | |
| SG&A Expense | $30M | $34M | $33M | $31M | $33M | $31M | $31M | $32M | $28M | $25M | $28M | $23M | $24M | $18M | $17M | |
| Operating Income | $55M | $50M | $47M | $49M | $45M | $38M | $42M | $40M | $41M | $43M | $30M | $31M | $26M | $29M | $24M | |
| Other Non-op | $-167.0K | $-72.0K | · | · | $0 | $94M | $1M | $800.0K | $471.0K | $303.0K | $66.0K | $19.0K | $-188.0K | $-192.0K | $-290.0K | |
| Pretax Income | $45M | $41M | $38M | $40M | $37M | $123M | $37M | $35M | $36M | $38M | $25M | $26M | $21M | $23M | $18M | |
| Income Tax | $13M | $11M | $11M | $11M | $10M | $31M | $10M | $10M | $9M | $10M | $6M | $7M | $5M | $6M | $5M | |
| Net Income | $31M | $30M | $27M | $28M | $27M | $92M | $27M | $26M | $27M | $29M | $19M | $20M | $16M | $18M | $13M | |
| EPS (Basic) | $1.15 | $1.09 | $1.00 | $1.02 | $0.96 | $3.25 | $0.92 | $0.88 | $0.94 | $0.98 | $0.64 | $0.66 | $0.52 | $0.58 | $0.45 | |
| EPS (Diluted) | $1.15 | $1.08 | $0.99 | $1.02 | $0.96 | $3.24 | $0.91 | $0.88 | $0.93 | $0.98 | $0.64 | $0.65 | $0.52 | $0.59 | $0.45 | |
| Shares (Basic) | 27,235,000 | 27,481,000 | -56,222,000 | 27,899,000 | 27,912,000 | 28,385,000 | -58,695,000 | 29,265,000 | 29,343,000 | 29,349,000 | -120,000 | 29,750,000 | 29,947,000 | -59,755,000 | 29,915,000 | |
| Shares (Diluted) | 27,252,000 | 27,593,000 | -56,423,000 | 27,991,000 | 27,997,000 | 28,509,000 | -58,934,000 | 29,383,000 | 29,457,000 | 29,478,000 | -113,000 | 29,818,000 | 30,031,000 | -59,892,000 | 29,967,000 | |
| EBITDA | $62M | $57M | · | $55M | $51M | $44M | · | $45M | $46M | $46M | · | $34M | $29M | · | $27M |
Balance Sheet 26
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $127M | $129M | $197M | $238M | $228M | $251M | $316M | $84M | $97M | $108M | · | $78M | $196M | · | $174M | |
| Receivables | $25M | $24M | $21M | $19M | $28M | $18M | $20M | $17M | $16M | $14M | · | $12M | $10M | · | $9M | |
| Prepaid Expense | $10M | $8M | $8M | $15M | $9M | $7M | $7M | $7M | $7M | $4M | · | $6M | $3M | · | $6M | |
| Current Assets | $208M | $217M | $267M | $320M | $313M | $324M | $396M | $166M | $163M | $171M | · | $133M | $249M | · | $223M | |
| PP&E (Net) | $153M | $138M | $131M | $117M | $111M | $108M | $126M | $119M | $108M | $99M | · | $84M | $72M | · | $63M | |
| PP&E (Gross) | · | · | $188M | · | · | · | $172M | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $58M | · | · | · | $46M | · | · | · | · | · | · | · | · | |
| Goodwill | $84M | $84M | $84M | $79M | $79M | $75M | $75M | $75M | $69M | $68M | $68M | $65M | $63M | $63M | $59M | |
| Intangibles | · | · | $57M | · | · | · | $52M | · | · | · | · | · | · | · | $9M | |
| Other Non-current Assets | $40M | $41M | $43M | $40M | $41M | $34M | $30M | $27M | $17M | $34M | · | $29M | $26M | · | $24M | |
| Total Assets | $658M | $649M | $693M | $721M | $708M | $697M | $716M | $485M | $452M | $412M | · | $352M | $451M | · | $411M | |
| Accounts Payable | $10M | $9M | $13M | $11M | $3M | $8M | $7M | $10M | $6M | $6M | · | $5M | $7M | · | $3M | |
| Current Liabilities | $70M | $97M | $82M | $79M | $72M | $91M | $87M | $119M | $85M | $79M | · | $67M | $79M | · | $61M | |
| Capital Leases | $58M | $57M | $58M | $58M | $58M | $58M | $58M | $60M | $54M | · | · | · | · | · | · | |
| Deferred Tax | $40M | $33M | $33M | $31M | $14M | $14M | $1M | $2M | $5M | $6M | · | $3M | $3M | · | $7M | |
| Other Non-current Liabilities | $194.0K | $149.0K | $169.0K | $114.0K | $86.0K | $62.0K | $57.0K | $90.0K | $71.0K | $18M | · | $16M | $15M | · | $15M | |
| Total Liabilities | $1.43B | $1.45B | $1.43B | $1.42B | $1.39B | $1.41B | $1.39B | $932M | $889M | $847M | · | $827M | $831M | · | $818M | |
| Long-term Debt | · | · | $1.22B | · | · | · | $1.21B | · | · | · | · | $712M | $713M | · | $715M | |
| Total Debt | $1.21B | $1.21B | · | $1.21B | $1.21B | $1.21B | · | $714M | $713M | $713M | · | $712M | · | · | $715M | |
| Common Stock | $272.0K | $272.0K | $275.0K | $278.0K | $279.0K | $279.0K | $287.0K | $292.0K | $293.0K | $294.0K | · | $294.0K | $300.0K | · | $299.0K | |
| Paid-in Capital | $2M | $213.0K | $2M | $1M | $4M | $1M | $2M | $2M | $2M | $918.0K | · | $1M | $809.0K | · | $991.0K | |
| Retained Earnings | $-779M | $-804M | $-745M | $-710M | $-698M | $-719M | $-677M | $-449M | $-439M | $-435M | · | $-476M | $-380M | · | $-407M | |
| AOCI | $4M | $5M | $6M | $6M | $7M | $3M | $-501.0K | $63.0K | $-377.0K | $-365.0K | · | $-561.0K | $-490.0K | · | $-984.0K | |
| Stockholders' Equity | $-773M | $-799M | $-737M | $-703M | $-686M | $-715M | $-676M | $-447M | $-438M | $-434M | $-457M | $-475M | $-380M | $-391M | $-407M | |
| Liabilities + Equity | $658M | $649M | $693M | $721M | $708M | $697M | $716M | $485M | $452M | $412M | · | $352M | $451M | · | $411M | |
| Shares Outstanding | 27,240,351 | 27,232,479 | 27,540,619 | 27,786,742 | 27,923,753 | 27,902,888 | 28,662,614 | 29,212,082 | 29,304,401 | 29,369,978 | 29,337,920 | 29,414,920 | 29,968,872 | 29,932,668 | 29,916,183 |
Cash Flow 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $7M | $7M | $6M | $6M | $6M | $6M | $6M | $5M | $5M | $3M | $4M | $3M | $3M | $3M | $3M | |
| Stock-based Comp | $4M | $5M | $7M | $6M | $6M | $5M | $6M | $7M | $5M | $4M | $6M | $3M | $3M | $2M | $2M | |
| Other Non-cash | · | $20M | · | · | · | $-79M | · | · | · | $9M | · | · | $14M | · | · | |
| Operating Cash Flow | $7M | $61M | $57M | $64M | $7M | $25M | $8M | $69M | $36M | $45M | $38M | $36M | $36M | $23M | $24M | |
| CapEx | $18M | $18M | $23M | $2M | $14M | $8M | $16M | $14M | $10M | $11M | $13M | $11M | $4M | $5M | $6M | |
| Investing Cash Flow | $-18M | $-18M | $-32M | $-2M | $-24M | $40M | $-12M | $-25M | $-14M | $-12M | $-19M | $-11M | $-4M | $-12M | $-8M | |
| Debt Issued | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $0 | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | $0 | · | · | $-2M | · | · | |
| Stock Repurchased | $0 | $79M | $61M | $40M | $0 | $121M | $250M | $35M | $29M | $0 | $151.0K | $125M | · | $0 | · | |
| Net Stock Activity | · | $-79M | · | · | · | $-121M | · | · | · | · | · | · | · | · | · | |
| Dividends Paid | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $6M | $7M | $6M | $7M | $6M | $6M | $6M | |
| Financing Cash Flow | $-8M | $-95M | $-69M | $-48M | $-9M | $-140M | $233M | $-43M | $-36M | $-10M | $-6M | $-132M | $-10M | $-6M | $-7M | |
| Net Change in Cash | $-19M | $-52M | $-44M | $13M | $-26M | $-75M | $228M | $1M | $-13M | $23M | $13M | $-107M | $21M | $5M | $9M | |
| Free Cash Flow | · | $44M | · | · | · | $17M | · | · | · | $34M | · | · | $31M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 29.4% | 27.4% | · | 27.9% | 25.9% | 22.4% | · | 24.5% | 26.5% | 29.3% | · | 26.2% | 23.6% | · | 26.0% | |
| Net Margin | 16.9% | 16.3% | · | 16.2% | 15.3% | 53.9% | · | 15.8% | 17.6% | 19.7% | · | 16.7% | 14.4% | · | 14.4% | |
| Pretax Margin | 24.1% | 22.1% | · | 22.6% | 21.1% | 72.0% | · | 21.8% | 23.4% | 26.4% | · | 22.3% | 19.2% | · | 19.5% | |
| EBITDA Margin | 33.3% | 31.2% | · | 31.4% | 29.5% | 26.0% | · | 27.6% | 29.8% | 31.6% | · | 29.1% | 26.4% | · | 29.0% | |
| ROA | 4.6% | 4.4% | · | 4.7% | 4.6% | 16.6% | · | 6.2% | 6.1% | 6.7% | · | 5.1% | · | · | 4.0% | |
| ROE | -4.3% | -4.0% | · | -5.0% | -4.8% | -16.1% | · | -5.6% | -6.9% | -7.1% | · | -4.4% | · | · | -3.7% | |
| ROIC | 8.8% | 9.0% | · | 7.0% | 6.3% | 5.8% | · | 10.8% | 11.3% | 11.5% | · | 9.7% | · | · | 5.8% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.0 | 2.2 | · | 4.1 | 4.4 | 3.6 | · | 1.4 | 1.9 | 2.2 | · | 2.0 | · | · | 3.7 | |
| Quick Ratio | 2.2 | 1.6 | · | 3.3 | 3.6 | 3.0 | · | 0.8 | 1.3 | 1.5 | · | 1.3 | · | · | 3.0 | |
| Debt / Equity | -1.6 | -1.5 | · | -1.7 | -1.8 | -1.7 | · | -1.6 | -1.6 | -1.6 | · | -1.5 | · | · | -1.8 | |
| LT Debt / Equity | -1.6 | -1.5 | · | -1.7 | -1.8 | -1.7 | · | -1.6 | -1.6 | -1.6 | · | -1.5 | · | · | -1.7 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.4 | 0.3 | 0.3 | · | 0.3 | · | · | 0.3 | |
| Receivables Turnover | 6.9 | 8.8 | · | 9.7 | 7.8 | 10.7 | · | 11.2 | 11.6 | 12.3 | · | 11.3 | · | · | 12.5 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $719M | $705M | · | $684M | $664M | $635M | · | $581M | $526M | $479M | · | $426M | $361M | · | $318M | |
| Net Income TTM | $116M | $177M | · | $173M | $172M | $174M | · | $101M | $92M | $80M | · | $65M | $51M | · | $47M | |
| Market Cap | $4.54B | $4.21B | · | $6.88B | $9.71B | $6.25B | · | $12.02B | $12.39B | $10.76B | · | $5.29B | · | · | $3.75B | |
| Enterprise Value | $5.63B | $5.29B | · | $7.85B | $10.69B | $7.21B | · | $12.65B | $13.00B | $11.37B | · | $5.92B | · | · | $4.29B | |
| P/E | 39.6 | 24.5 | · | 40.6 | 57.8 | 37.1 | · | 119.6 | 136.3 | 136.2 | · | 83.3 | 108.0 | · | 80.3 | |
| P/S | 6.3 | 6.0 | · | 10.1 | 14.6 | 9.8 | · | 20.7 | 23.6 | 22.5 | · | 12.4 | · | · | 11.8 | |
| P/B | -5.9 | -5.3 | · | -9.8 | -14.1 | -8.7 | · | -26.9 | -28.3 | -24.8 | · | -11.1 | · | · | -9.2 | |
| P / Cash Flow | · | 68.5 | · | · | · | 247.1 | · | · | · | 241.0 | · | · | · | · | · | |
| P / FCF | · | 96.4 | · | · | · | 361.9 | · | · | · | 321.2 | · | · | · | · | · | |
| EV / EBITDA | 91.0 | 92.4 | · | 142.2 | 207.7 | 162.0 | · | 281.9 | 280.3 | 246.3 | · | 174.0 | · | · | 159.3 | |
| EV / FCF | · | 121.1 | · | · | · | 417.2 | · | · | · | 339.3 | · | · | · | · | · | |
| EV / Revenue | 7.8 | 7.5 | · | 11.5 | 16.1 | 11.3 | · | 21.8 | 24.7 | 23.7 | · | 13.9 | · | · | 13.5 | |
| Earnings Yield | 2.5% | 4.1% | · | 2.5% | 1.7% | 2.7% | · | 0.84% | 0.73% | 0.73% | · | 1.2% | 0.93% | · | 1.2% | |
| Payout Ratio | · | 28.4% | · | · | · | 8.7% | · | · | · | 23.0% | · | · | 38.8% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-27 | 2024-12-28 | 2023-12-30 | 2022-12-31 | 2021-12-25 | |
|---|---|---|---|---|---|
| Revenue | $697M | $626M | $460M | $358M | $283M |
| Operating Margin % | 25.7% | 26.5% | 24.5% | 25.7% | 26.1% |
| Net Income | $174M | $109M | $70M | $53M | $43M |
| Diluted EPS | $6.21 | $3.70 | $2.35 | $1.77 | $1.42 |
Balance Sheet
| 2025-12-27 | 2024-12-28 | 2023-12-30 | 2022-12-31 | 2021-12-25 | |
|---|---|---|---|---|---|
| Debt / Equity | -1.6 | -1.8 | -1.6 | -1.8 | -1.5 |
| Current Ratio | 3.3 | 4.5 | 2.0 | 3.6 | 1.8 |
| Quick Ratio | 2.7 | 3.8 | 1.4 | 3.1 | 1.4 |
Cash Flow
| 2025-12-27 | 2024-12-28 | 2023-12-30 | 2022-12-31 | 2021-12-25 | |
|---|---|---|---|---|---|
| Free Cash Flow | $106M | $106M | $81M | $52M | $21M |
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Institutional owners (13F) 490 filers · $4.0B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 110 (+16 vs prior Q) | 71 (-45 vs prior Q) | 126 (-13 vs prior Q) | 157 (+10 vs prior Q) | +2.4M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| FMR LLC | $485,102,686 | 2,797,432 | 12.06% | Shares |
| Darsana Capital Partners LP | $260,115,000 | 1,500,000 | 6.47% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $213,327,248 | 1,230,190 | 5.30% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $205,459,636 | 1,184,820 | 5.11% | Shares |
| AMERICAN CENTURY COMPANIES INC | $166,762,854 | 961,668 | 4.15% | Shares |
| Alyeska Investment Group, L.P. | $163,515,746 | 942,943 | 4.07% | Shares |
| STATE STREET CORP | $149,750,650 | 863,951 | 3.72% | Shares |
| MARSHALL WACE, LLP | $121,050,758 | 698,061 | 3.01% | Shares |
| TREMBLANT CAPITAL GROUP | $94,777,756 | 546,553 | 2.36% | Shares |
| Capital International Investors | $93,083,887 | 536,785 | 2.31% | Shares |
| WASATCH ADVISORS LP | $88,655,548 | 572,082 | 2.20% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $80,567,481 | 464,479 | 2.00% | Shares |
| Stephens Investment Management Group LLC | $80,225,535 | 462,635 | 1.99% | Shares |
| Clearbridge Investments, LLC | $77,853,666 | 448,957 | 1.94% | Shares |
| BAMCO INC /NY/ | $74,594,913 | 430,165 | 1.85% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $63,605,748 | 366,794 | 1.58% | Shares |
| JANE STREET GROUP, LLC | $61,161,707 | 352,700 | 1.52% | Put option |
| Capital World Investors | $57,892,235 | 333,846 | 1.44% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $55,328,715 | 319,063 | 1.38% | Shares |
| NORGES BANK | $52,960,108 | 305,404 | 1.32% | Shares |
| GOLDMAN SACHS GROUP INC | $48,717,285 | 280,937 | 1.21% | Shares |
| Point72 Asset Management, L.P. | $46,487,579 | 268,079 | 1.16% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $44,578,509 | 257,070 | 1.11% | Shares |
| Champlain Investment Partners, LLC | $42,551,172 | 245,379 | 1.06% | Shares |
| MILLENNIUM MANAGEMENT LLC | $36,274,077 | 209,181 | 0.90% | Shares |
| Copeland Capital Management, LLC | $35,789,430 | 206,386 | 0.89% | Shares |
| Freestone Grove Partners LP | $35,547,663 | 204,992 | 0.88% | Shares |
| BARCLAYS PLC | $32,422,468 | 186,970 | 0.81% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $30,567,674 | 176,274 | 0.76% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $30,532,472 | 176,071 | 0.76% | Shares |
| JANE STREET GROUP, LLC | $28,716,696 | 165,600 | 0.71% | Call option |
| Woodline Partners LP | $25,540,692 | 147,285 | 0.63% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $24,572,369 | 141,701 | 0.61% | Shares |
| D. E. Shaw & Co., Inc. | $23,497,055 | 135,500 | 0.58% | Put option |
| BANK OF AMERICA CORP /DE/ | $22,547,116 | 130,022 | 0.56% | Shares |
| BARCLAYS PLC | $19,942,150 | 115,000 | 0.50% | Put option |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $19,130,271 | 110,318 | 0.48% | Shares |
| Assenagon Asset Management S.A. | $18,381,460 | 106,000 | 0.46% | Shares |
| OFI INVEST ASSET MANAGEMENT | $18,017,623 | 118,791 | 0.45% | Shares |
| Candlestick Capital Management LP | $17,201,825 | 68,348 | 0.43% | Shares |
| D. E. Shaw & Co., Inc. | $16,560,655 | 95,500 | 0.41% | Call option |
| FRONTIER CAPITAL MANAGEMENT CO LLC | $16,362,794 | 94,359 | 0.41% | Shares |
| WCM INVESTMENT MANAGEMENT, LLC | $15,496,431 | 93,651 | 0.39% | Shares |
| WOLVERINE TRADING, LLC | $15,286,688 | 60,700 | 0.38% | Call option |
| Artisan Partners Limited Partnership | $15,137,132 | 87,291 | 0.38% | Shares |
| DF DENT & CO INC | $14,554,475 | 83,931 | 0.36% | Shares |
| RHUMBLINE ADVISERS | $12,770,030 | 73,641 | 0.32% | Shares |
| Man Group plc | $12,228,006 | 70,515 | 0.30% | Shares |
| RAYMOND JAMES FINANCIAL INC | $11,876,827 | 68,490 | 0.30% | Shares |
| WOLVERINE TRADING, LLC | $11,534,272 | 45,800 | 0.29% | Put option |
| MANE GLOBAL CAPITAL MANAGEMENT LP | $11,516,332 | 66,411 | 0.29% | Shares |
| KING LUTHER CAPITAL MANAGEMENT CORP | $11,349,858 | 65,451 | 0.28% | Shares |
| MILLENNIUM MANAGEMENT LLC | $11,271,650 | 65,000 | 0.28% | Put option |
| TD Asset Management Inc | $11,113,847 | 64,090 | 0.28% | Shares |
| Walleye Trading LLC | $10,976,853 | 63,300 | 0.27% | Put option |
| PRINCIPAL FINANCIAL GROUP INC | $10,671,305 | 61,538 | 0.27% | Shares |
| CIBC Private Wealth Group LLC | $10,647,096 | 42,304 | 0.26% | Shares |
| TimesSquare Capital Management, LLC | $10,474,887 | 67,593 | 0.26% | Shares |
| Cinctive Capital Management LP | $10,226,161 | 58,971 | 0.25% | Shares |
| BlackRock, Inc. | $9,851,249 | 56,809 | 0.24% | Shares |
| TUDOR INVESTMENT CORP ET AL | $9,687,723 | 55,866 | 0.24% | Shares |
| Swiss National Bank | $9,516,741 | 54,880 | 0.24% | Shares |
| Verition Fund Management LLC | $9,364,313 | 54,001 | 0.23% | Shares |
| Susquehanna Portfolio Strategies, LLC | $9,150,846 | 52,770 | 0.23% | Shares |
| Goodman Financial Corp | $8,825,377 | 50,894 | 0.22% | Shares |
| Squarepoint Ops LLC | $8,653,159 | 49,900 | 0.22% | Call option |
| MILLENNIUM MANAGEMENT LLC | $8,462,408 | 48,800 | 0.21% | Call option |
| Point72 Asset Management, L.P. | $8,410,385 | 48,500 | 0.21% | Put option |
| NEW YORK STATE COMMON RETIREMENT FUND | $8,034,259 | 46,331 | 0.20% | Shares |
| ROYAL BANK OF CANADA | $7,798,000 | 44,969 | 0.19% | Shares |
| NICHOLAS COMPANY, INC. | $7,679,462 | 44,285 | 0.19% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $7,070,391 | 40,773 | 0.18% | Shares |
| Ravenswood Partners LP | $7,017,729 | 40,469 | 0.17% | Shares |
| Diameter Capital Partners LP | $6,936,400 | 40,000 | 0.17% | Shares |
| Squarepoint Ops LLC | $6,929,117 | 39,958 | 0.17% | Shares |
| California Public Employees Retirement System | $6,394,147 | 36,873 | 0.16% | Shares |
| PRIMECAP MANAGEMENT CO/CA/ | $6,260,101 | 36,100 | 0.16% | Shares |
| RIVER GLOBAL INVESTORS LLP | $6,051,153 | 21,305 | 0.15% | Shares |
| CIBC Bancorp USA Inc. | $5,814,597 | 33,531 | 0.14% | Shares |
| PDT Partners, LLC | $5,681,605 | 32,764 | 0.14% | Shares |
| Walleye Trading LLC | $5,531,779 | 31,900 | 0.14% | Call option |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $5,467,964 | 31,532 | 0.14% | Shares |
| Schonfeld Strategic Advisors LLC | $5,460,333 | 31,488 | 0.14% | Shares |
| Night Squared LP | $5,436,404 | 31,350 | 0.14% | Shares |
| Voleon Capital Management LP | $5,365,999 | 30,944 | 0.13% | Shares |
| Ceredex Value Advisors LLC | $5,341,028 | 30,800 | 0.13% | Shares |
| Savoir Faire Capital Management, L.P. | $5,258,832 | 30,326 | 0.13% | Shares |
| Jain Global LLC | $5,245,479 | 30,249 | 0.13% | Shares |
| Walleye Trading LLC | $5,133,803 | 29,605 | 0.13% | Shares |
| ALLIANCEBERNSTEIN L.P. | $5,100,838 | 32,915 | 0.13% | Shares |
| AMERIPRISE FINANCIAL INC | $5,015,364 | 28,922 | 0.12% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $5,013,744 | 32,353 | 0.12% | Shares |
| Retirement Systems of Alabama | $4,884,439 | 28,167 | 0.12% | Shares |
| TUDOR INVESTMENT CORP ET AL | $4,630,047 | 26,700 | 0.12% | Call option |
| Balyasny Asset Management L.P. | $4,618,255 | 26,632 | 0.11% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $4,556,522 | 26,276 | 0.11% | Shares |
| Pembroke Management, LTD | $4,548,371 | 26,229 | 0.11% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $4,534,498 | 26,149 | 0.11% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $4,463,227 | 25,738 | 0.11% | Shares |
| Bank of New York Mellon Corp | $4,337,851 | 25,015 | 0.11% | Shares |
Company insiders 25 insiders · 12 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Charles R Morrison | Chairman, President and CEO | Feb. 20, 2020 M | 84,779 | 0 | 0 | $0 |
| Michael Skipworth | Executive Vice President and Chief Financial Officer | Feb. 20, 2020 M | 7,706 | 0 | 0 | $0 |
| Michael Mravle | Chief Financial Officer | May 10, 2017 M | 40,795 | 0 | 0 | $0 |
| Lawrence Kruguer | Executive Vice President and Chief Operating Officer | July 2, 2018 S | 2,931 | 0 | 0 | $0 |
| William Engen | Chief Operating Officer | June 27, 2016 M | 16,303 | 0 | 0 | $0 |
| Madison Jobe | Senior Vice President and Chief Development Officer | Feb. 20, 2020 M | 5,386 | 0 | 0 | $0 |
| Stacy Peterson | Executive Vice President and Chief Experience Officer | Aug. 7, 2018 M | 30,164 | 0 | 0 | $0 |
| Maurice Cooper | Senior Vice President and Chief Marketing Officer Exhibit List: Exhibit 24 - Power of Attorney | July 31, 2018 A | — | 0 | 0 | $0 |
| Flynn Dekker | Chief Marketing Officer | March 12, 2018 M | 33,239 | 0 | 0 | $0 |
| Darryl R. Marsch | Senior Vice President, General Counsel and Secretary | Feb. 28, 2018 M | 2,796 | 0 | 0 | $0 |
| David A. Vernon | Chief Development Officer | Feb. 28, 2017 A | 87,979 | 0 | 0 | $0 |
| Jay Young | General Counsel | March 2, 2016 A | 12,000 | 0 | 0 | $0 |
| Ania Smith | Director | May 21, 2026 A | 3,042 | 0 | 0 | $0 |
| Kilandigalu Madati | Director | May 21, 2026 A | 3,714 | 0 | 0 | $0 |
| Kate S Lavelle | Director | May 21, 2026 A | 5,445 | 0 | 0 | $0 |
| Thomas Greco | Director | May 21, 2026 A | 1,724 | 0 | 0 | $0 |
| Krishnan Anand | Director | May 21, 2026 A | 6,083 | 0 | 0 | $0 |
| Lynn Crump Caine | Director | May 21, 2026 A | 10,604 | 0 | 0 | $0 |
| Wesley S Mcdonald | Director | May 21, 2026 A | 5,506 | 0 | 0 | $0 |
| David Goebel | Director | May 21, 2026 A | 8,317 | 0 | 0 | $0 |
| Michael J Hislop | Director | May 21, 2026 A | 2,444 | 0 | 0 | $0 |
| Sidney J Feltenstein | Director | May 24, 2017 S | 29,151 | 0 | 0 | $0 |
| ARONSON NEAL K | Director | Nov. 8, 2016 S | 0 | 0 | 0 | $0 |
| RC II WS LLC | 10% owner | Nov. 8, 2016 S | 0 | 0 | 0 | $0 |
| Jay A Snowden | — | Aug. 6, 2026 A | 965 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 72 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| TMFS · RBB Fund, Inc. | 3.03% | 11,422 NS | May 31, 2026 | N-PORT |
| TMFM · RBB Fund, Inc. | 1.24% | 9,186 NS | May 31, 2026 | N-PORT |
| MCOW · Pacer Funds Trust | 0.58% | 35 NS | April 30, 2026 | N-PORT |
| MMSC · First Trust Exchange-Traded Fund VI… | 0.43% | 1,418 NS | May 31, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.22% | 440 NS | May 31, 2026 | N-PORT |
| IQSM · New York Life Investments ETF Trust | 0.18% | 3,439 NS | April 30, 2026 | N-PORT |
| PTMC · Pacer Funds Trust | 0.13% | 3,184 NS | April 30, 2026 | N-PORT |
| FBCG · FIDELITY COVINGTON TRUST | 0.12% | 44,543 NS | April 30, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.11% | 4,181 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.09% | 960 NS | May 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 11,320 NS | April 30, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.09% | 460 NS | April 30, 2026 | N-PORT |
| FDIS · FIDELITY COVINGTON TRUST | 0.09% | 9,711 NS | April 30, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.08% | 75,073 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.07% | 62,547 NS | April 30, 2026 | N-PORT |
| UMDD · ProShares Trust | 0.07% | 134 NS | May 31, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.06% | 467 NS | April 30, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.03% | 15,717 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.02% | 1,093 NS | May 31, 2026 | N-PORT |
| GGUS · Goldman Sachs ETF Trust | 0.02% | 495 NS | May 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.02% | 2,027 NS | April 30, 2026 | N-PORT |
| SCHG · SCHWAB STRATEGIC TRUST | 0.02% | 60,123 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.01% | 36,156 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.01% | 2,283 NS | April 30, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 6,929 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.01% | 1,078 NS | April 30, 2026 | N-PORT |
| SCHX · SCHWAB STRATEGIC TRUST | 0.01% | 30,002 NS | May 31, 2026 | N-PORT |
| GUSA · Goldman Sachs ETF Trust II | 0.01% | 953 NS | May 31, 2026 | N-PORT |
| SCHK · SCHWAB STRATEGIC TRUST | 0.01% | 2,168 NS | May 31, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.01% | 16,164 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.01% | 3,573 NS | April 30, 2026 | N-PORT |
| MSLC · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 1,095 NS | May 31, 2026 | N-PORT |
| AVUQ · AMERICAN CENTURY ETF TRUST | 0.00% | 68 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 5,142 NS | April 30, 2026 | N-PORT |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.00% | 105 NS | May 31, 2026 | N-PORT |
| FNDB · SCHWAB STRATEGIC TRUST | 0.00% | 154 NS | May 31, 2026 | N-PORT |
| CLSE · Trust for Professional Managers | -0.12% | -4,798 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | — | — | July 15, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | — | — | July 15, 2026 | Daily |
| IVOG · VANGUARD ADMIRAL FUNDS | — | — | July 15, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VONG · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| IJH · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IJK · iShares Trust | — | — | Aug. 7, 2026 | Daily |
| ITOT · iShares Trust | — | — | Aug. 5, 2026 | Daily |