Even though they’re only in seven states as of November 2023, all of the public is familiar with In-N-Out. They’re a must-visit and consistently have one of the longest lines in fast food. One thing In-N-Out is also known for is keeping its menu consistent. While other fast food places are constantly adding and subtracting from their menu, In-N-Out keeps it simple. They offer three different types of burgers, fries, and three types of shakes. They truly take the idea “If it ain’t broke, don’t fix it” as literally as a company can.

The first restaurant was opened in 1948 in Baldwin Park, California. The company is now owned by Lynsi Snyder, the only grandchild of the store founders. Tons of people want to know about how they can invest in In-N-Out. Unfortunately, the company is still in private hands and not available to purchase on Wall Street. If In-N-Out did go public and land on Wall Street, what would the opening price be?

How Does In-N-Out Make Their Money?

Before we dive into the stock price, it’s important to discuss what other subsidiaries In-N-Out have control over and how they make their money. This will help us get a better understanding of where their profits come from and how many sources of profit they have. For In-N-Out, the only thing they have to focus on is the restaurant brand. This differs from a lot of restaurants. They’re either part of a group or are owned by another group. McDonald’s (NYSE: MCD), for example, is also part of the real estate game. Interestingly enough, that’s how McDonald’s makes the bulk of its profit.

Another way a lot of other restaurants have increased their revenue over the last few years is by being added to food delivery apps like DoorDash and Uber Eats. In-N-Out is one of the few remaining restaurants that isn’t available for delivery. The reasoning behind this is they want their food to be as fresh as possible when the customer gets it and eats it. If not, they think the customer will have a bad experience and not want to come back. The only way to get In-N-Out is by going to one of their physical locations yourself. Now that we have established how In-N-Out makes its money, let’s get into the potential stock price if it went public. 

What Would In-N-Out Sell For on Wall Street?

This might be shocking, but the best company to compare In-N-Out to is Wendy’s (NASDAQ: WEN). Both stand-alone and aren’t owned by another company. They both are worth roughly $3 billion. Wendy’s revenue was higher than In-N-Out, but it was in so many fewer states, so they can be assumed to be equal. All this being said, Wendy’s stock is going for $18.66 as of November 2023. Taking all of these factors into account, it’s safe to assume In-N-Out would open around $25 per share. The reason it’s higher is based on the potential they have and the talks they’ve had about expanding to more states. This automatically would increase their revenue and profits, making their prices rise.

Another reason why it’s slightly higher is In-N-Out has established itself as a brand that’s not going anywhere. Sadly, there have been Wendy’s shut in the last few years. There haven’t been any In-N-Outs that have struggled. In-N-Out has made sure to have enough room between locations so that they won’t take away customers and waste money on multiple leases. Even with the potential to go on Wall Street, they haven’t. Will In-N-Out be on Wall Street soon?

Does In-N-Out Have Plans to Join the Stock Market?

As of now, In-N-Out isn’t planning on going public and joining the big shots on Wall Street at all shortly. One of the main reasons is In-N-Out doesn’t want to gross too much revenue from investors and feels pressured to expand quickly. They are concerned the quality of their food will be compromised if they go to new places quickly, so they’re more interested in a slow expansion. The restaurant also prides itself on being close to the farms where the food is grown and produced, assuring the highest quality when consumers eat it.

The rapid expansion wouldn’t allow them to set up their farms the way they see fit before getting into production. In-N-Out is a lot like Chick-fil-A, a proud family-owned company. They also have a deeply religious background and don’t want anyone who doesn’t have the same beliefs as them to have some sort of control. As an investor, it would be excellent to see a company that is as established as In-N-Out hit the market. If they ever do, they are a must-invest thanks to how sound they are. 

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