"This is a virtuous cycle story and every time people think it's tapped out, they come up with new ways to make money," Cramer said Tuesday on "Squawk on the Street." "This is a story that is not run out and yet a lot of people think it's run out of gas."
The wings joint added pizza to its menu, for example, Cramer said. It bought a minority stake in the build-you-own pizza chain PizzaRev last year.
Looking forward, B-Dubs plans to add new locations of its restaurant-bars. It will also raise prices by 3 percent with "very little to no resistance" from customers, he said.
"Chicken wing prices have been high. There's a chance that prices are going to come down in 2015. Extra Thursday night games in the NFL. This really plays to their strength," he said. "Stock's going higher."
Earlier, B-Dubs beat estimates by 7 cents with quarterly profit of $1.14 per share thanks to improved same-store sales.
DISCLOSURE: When this story was published, Cramer's charitable trust did not own Buffalo Wild Wings.