Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Wingstop Inc. reported its fiscal first quarter 2026 results, highlighting both progress in strategic initiatives and near-term challenges influenced by external factors.</li><li>The company’s highly franchised, asset-light model demonstrated resilience, delivering system-wide sales growth of 5.9% to $1.4 billion, fueled primarily by net new unit development, which increased 17% year-over-year with 97 restaurants opened.</li><li>Despite this unit growth, domestic same-store sales declined 8.7%, attributed mainly to atypical winter weather causing temporary closures at over 700 restaurants and elevated gas prices related to geopolitical tensions impacting lower-income consumers—a segment the brand disproportionately serves.</li></ul>

Wingstop Inc. reported its fiscal first quarter 2026 results, highlighting both progress in strategic initiatives and near-term challenges influenced by external factors.The company’s highly franchised, asset-light model demonstrated resilience, delivering system-wide sales growth of 5.9% to $1.4 billion, fueled primarily by net new unit development, which increased 17% year-over-year with 97 restaurants opened.Despite this unit growth, domestic same-store sales declined 8.7%, attributed mainly to atypical winter weather causing temporary closures at over 700 restaurants and elevated gas prices related to geopolitical tensions impacting lower-income consumers—a segment the brand disproportionately serves.

Wingstop: A $300 Million Buyback Signals Confidence Beneath The Same-Store Sales Pressure!

<ul><li>Wingstop Inc. recently reported its fiscal fourth-quarter and full-year 2025 results, offering insights into both challenges and opportunities for the company.</li><li>Overall, Wingstop's performance reflects the strengths and potential risks associated with their growth and strategic initiatives.</li><li>Wingstop reached a significant milestone by operating over 3,000 restaurants and expanding into six new international markets, contributing to a system-wide sales growth of 12%.</li></ul>

Wingstop Inc. recently reported its fiscal fourth-quarter and full-year 2025 results, offering insights into both challenges and opportunities for the company.Overall, Wingstop's performance reflects the strengths and potential risks associated with their growth and strategic initiatives.Wingstop reached a significant milestone by operating over 3,000 restaurants and expanding into six new international markets, contributing to a system-wide sales growth of 12%.

Wingstop: Inside the Speed Revolution That Is Redefining Restaurant Throughput and Customer Satisfaction!

<ul><li>Wingstop Inc. reported its fiscal third-quarter 2025 earnings, revealing several key performance highlights along with strategic advancements and challenges.</li><li>Wingstop's strategy remains focused on expanding its global presence and enhancing operational efficiencies, evidenced by the opening of 369 net new restaurants through the first three quarters of the year, resulting in a 19% unit growth.</li><li>The company's system-wide sales grew by 13%, with a trailing 12-month sales figure exceeding $5 billion, validating its highly franchised, asset-light model that facilitated a 17% adjusted EBITDA growth.</li></ul>

Wingstop Inc. reported its fiscal third-quarter 2025 earnings, revealing several key performance highlights along with strategic advancements and challenges.Wingstop's strategy remains focused on expanding its global presence and enhancing operational efficiencies, evidenced by the opening of 369 net new restaurants through the first three quarters of the year, resulting in a 19% unit growth.The company's system-wide sales grew by 13%, with a trailing 12-month sales figure exceeding $5 billion, validating its highly franchised, asset-light model that facilitated a 17% adjusted EBITDA growth.

Wingstop’s High-Voltage Expansion: How Smart Kitchens

<ul><li>Wingstop Inc.'s fiscal second quarter results for 2025 showcased a blend of growth achievements and areas for improvement, reflecting the overall resilience of its business model.</li><li>The company reported a system-wide sales increase of 13.9% to $1.3 billion, although same-store sales saw a decrease of 1.9%.</li><li>This decline followed consecutive years of significant growth, suggesting that while the brand is expanding rapidly, sustaining comparable sales growth will remain a challenge.</li></ul>

Wingstop Inc.'s fiscal second quarter results for 2025 showcased a blend of growth achievements and areas for improvement, reflecting the overall resilience of its business model.The company reported a system-wide sales increase of 13.9% to $1.3 billion, although same-store sales saw a decrease of 1.9%.This decline followed consecutive years of significant growth, suggesting that while the brand is expanding rapidly, sustaining comparable sales growth will remain a challenge.

Wingstop Inc.: Can The New Smart Kitchen Technology Further Build A Sustainable Competitive Advantage?

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>The SPX, Nasdaq 100 (QQQ), and Russell 2000 (IWM) continue to hold above short-term support at their respective 20-day MAs (currently 5966 on SPX, $526.50 on QQQ, $208.75 on IWM)</li>
<li>As long as 20-day MA supports hold, our near-term bullish outlook that we have had since our 4/22/25 Compass remains intact.</li>
<li>We will need to see breakdowns below 20-day MA supports in order to expect any meaningful near-term downside.</li>
</ul>


The SPX, Nasdaq 100 (QQQ), and Russell 2000 (IWM) continue to hold above short-term support at their respective 20-day MAs (currently 5966 on SPX, $526.50 on QQQ, $208.75 on IWM)
As long as 20-day MA supports hold, our near-term bullish outlook that we have had since our 4/22/25 Compass remains intact.
We will need to see breakdowns below 20-day MA supports in order to expect any meaningful near-term downside.


20-Day MA Supports Holding on SPX, QQQ, IWM; Bullish Outlook Intact

United States

Wingstop Inc. owns and operates restaurants. The Company specializes in cooked-to-order, hand-sauced, and tossed chicken wings. Wingstop serves customers worldwide.

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Wingstop Inc (WING US)

Wingstop: A $300 Million Buyback Signals Confidence Beneath The Same-Store Sales Pressure!

Wingstop Inc. reported its fiscal first quarter 2026 results, highlighting both progress in strategic initiatives and near-term challenges...

Baptista Research

Wingstop: Inside the Speed Revolution That Is Redefining Restaurant Throughput and Customer Satisfaction!

Wingstop Inc. recently reported its fiscal fourth-quarter and full-year 2025 results, offering insights into both challenges and opportunities for...

Baptista Research

Wingstop’s High-Voltage Expansion: How Smart Kitchens

Wingstop Inc. reported its fiscal third-quarter 2025 earnings, revealing several key performance highlights along with strategic advancements and...

Baptista Research

Wingstop Inc.: Can The New Smart Kitchen Technology Further Build A Sustainable Competitive Advantage?

Wingstop Inc.'s fiscal second quarter results for 2025 showcased a blend of growth achievements and areas for improvement, reflecting the overall...

Baptista Research

20-Day MA Supports Holding on SPX, QQQ, IWM; Bullish Outlook Intact

20-Day MA Supports Holding on $SPX, $QQQ, and $IWM. As long as 20-day MA supports hold, our near-term bullish outlook that we have had since our 4...

Vermilion Research

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