Wingstop (FRA:WST) Cyclically Adjusted PB Ratio: (As of Jul. 19, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:WST Wingstop Inc FRA:WST
82 GF Score
Price €120.75
GF Value €326.03
Valuation Significantly Undervalued
! 2 Warning Signs
View Full Analysis

What is Wingstop Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Wingstop  (FRA:WST) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Wingstop Cyclically Adjusted PB Ratio Related Terms


Wingstop Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Wingstop's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Wingstop Cyclically Adjusted PB Ratio Chart

Wingstop Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Wingstop Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

FRA:WST vs CAKE, SHAK, ARCO: Cyclically Adjusted PB Ratio Comparison

For the Restaurants subindustry, Wingstop's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Wingstop Cyclically Adjusted PB Ratio vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Wingstop's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Wingstop's Cyclically Adjusted PB Ratio falls into.


FRA:WST
82GF Score
Wingstop Inc FRA:WST
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Wingstop Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Wingstop's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Wingstop's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=-25.385/330.2130*330.2130
=-25.385

Current CPI (Mar. 2026) = 330.2130.

Wingstop Quarterly Data

Book Value per Share CPI Adj_Book
201606 -0.003 241.018 -0.004
201609 -2.479 241.428 -3.391
201612 -2.461 241.432 -3.366
201703 -2.170 243.801 -2.939
201706 -1.874 244.955 -2.526
201709 -1.663 246.819 -2.225
201712 -1.697 246.524 -2.273
201803 -4.075 249.554 -5.392
201806 -4.114 251.989 -5.391
201809 -3.986 252.439 -5.214
201812 -6.746 251.233 -8.867
201903 -6.637 254.202 -8.622
201906 -6.504 256.143 -8.385
201909 -6.523 256.759 -8.389
201912 -6.399 256.974 -8.223
202003 -6.209 258.115 -7.943
202006 -5.781 257.797 -7.405
202009 -5.250 260.280 -6.661
202012 -9.451 260.474 -11.981
202103 -9.371 264.877 -11.683
202106 -8.992 271.696 -10.929
202109 -8.952 274.310 -10.776
202112 -9.181 278.802 -10.874
202203 -12.893 287.504 -14.808
202206 -13.139 296.311 -14.642
202209 -13.727 296.808 -15.272
202212 -12.327 296.797 -13.715
202303 -11.836 301.836 -12.949
202306 -11.249 305.109 -12.175
202309 -15.145 307.789 -16.248
202312 -14.296 306.746 -15.390
202403 -13.607 312.332 -14.386
202406 -13.871 314.175 -14.579
202409 -13.801 315.301 -14.454
202412 -22.509 315.605 -23.551
202503 -23.702 319.799 -24.474
202506 -21.299 322.561 -21.804
202509 -21.543 324.800 -21.902
202512 -22.846 324.054 -23.280
202603 -25.385 330.213 -25.385

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Wingstop (FRA:WST) Overvalued in 2026?

Based on GuruFocus' analysis, Wingstop stock appears to be undervalued. The current stock price of €120.75 is trading 63% below its estimated GF Value™ of €326.03. GuruFocus considers Wingstop to be Significantly Undervalued.

Key valuation signals for FRA:WST:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €326.03 vs. price of €120.75 (63% below fair value)
  • GF Score™: 82/100 with 2 warning signs

No single metric tells the full story. See the FRA:WST stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Wingstop Business Description

Other Exchanges WING:USAWST:Germany
Address 2801 N Central Expressway, Suite 1600, Dallas, TX, USA, 75204
Wingstop is a fast casual restaurant concept built around a simple chicken-centric menu. The firm primarily offers bone-in and boneless wings, tenders, and a chicken sandwich, customizable across 12 flavors. The banner generated $5.3 billion in system sales in 2025 across 3,056 units, with 85% located in the US. Wingstop largely operates as a franchisor, with 98% of units franchised, and earns revenue largely from collecting royalties and advertising fees paid by franchisees, with a smaller contribution from company-owned restaurant sales.
82GF Score

Get the complete analysis for FRA:WST

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€120.75
Price
€326.03
GF Value