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Side-by-side financial comparison of dLocal Ltd (DLO) and Wingstop Inc. (WING). Click either name above to swap in a different company.
dLocal Ltd is the larger business by last-quarter revenue ($337.9M vs $183.7M, roughly 1.8× Wingstop Inc.). dLocal Ltd runs the higher net margin — 16.5% vs 16.3%, a 0.2% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs 7.4%).
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
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.
DLO vs WING — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $337.9M | $183.7M |
| Net Profit | $55.6M | $29.9M |
| Gross Margin | 34.3% | 86.5% |
| Operating Margin | 18.6% | 27.4% |
| Net Margin | 16.5% | 16.3% |
| Revenue YoY | 65.2% | 7.4% |
| Net Profit YoY | 87.3% | — |
| EPS (diluted) | $0.18 | $1.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $183.7M | ||
| Q4 25 | $337.9M | $175.7M | ||
| Q3 25 | $282.5M | $175.7M | ||
| Q2 25 | — | $174.3M | ||
| Q1 25 | — | $171.1M | ||
| Q4 24 | $204.5M | $161.8M | ||
| Q3 24 | $185.8M | $162.5M | ||
| Q2 24 | — | $155.7M |
| Q1 26 | — | $29.9M | ||
| Q4 25 | $55.6M | $26.8M | ||
| Q3 25 | $141.3M | $28.5M | ||
| Q2 25 | — | $26.8M | ||
| Q1 25 | — | $92.3M | ||
| Q4 24 | $29.7M | $26.8M | ||
| Q3 24 | $90.8M | $25.7M | ||
| Q2 24 | — | $27.5M |
| Q1 26 | — | 86.5% | ||
| Q4 25 | 34.3% | — | ||
| Q3 25 | 36.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 40.9% | 85.6% | ||
| Q3 24 | 42.1% | 85.0% | ||
| Q2 24 | — | 85.4% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | 18.6% | 26.7% | ||
| Q3 25 | 19.7% | 27.9% | ||
| Q2 25 | — | 25.9% | ||
| Q1 25 | — | 22.4% | ||
| Q4 24 | 20.7% | 25.9% | ||
| Q3 24 | 22.1% | 24.5% | ||
| Q2 24 | — | 26.5% |
| Q1 26 | — | 16.3% | ||
| Q4 25 | 16.5% | 15.2% | ||
| Q3 25 | 50.0% | 16.2% | ||
| Q2 25 | — | 15.4% | ||
| Q1 25 | — | 53.9% | ||
| Q4 24 | 14.5% | 16.5% | ||
| Q3 24 | 48.9% | 15.8% | ||
| Q2 24 | — | 17.7% |
| Q1 26 | — | $1.08 | ||
| Q4 25 | $0.18 | $0.99 | ||
| Q3 25 | $0.17 | $1.02 | ||
| Q2 25 | — | $0.96 | ||
| Q1 25 | — | $3.24 | ||
| Q4 24 | $0.09 | $0.91 | ||
| Q3 24 | $0.09 | $0.88 | ||
| Q2 24 | — | $0.93 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $719.9M | $128.8M |
| Total DebtLower is stronger | $86.7M | — |
| Stockholders' EquityBook value | $569.4M | — |
| Total Assets | $1.5B | $648.9M |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $128.8M | ||
| Q4 25 | $719.9M | $196.6M | ||
| Q3 25 | $604.5M | $237.6M | ||
| Q2 25 | — | $227.9M | ||
| Q1 25 | — | $251.4M | ||
| Q4 24 | $425.2M | $315.9M | ||
| Q3 24 | $560.5M | $84.0M | ||
| Q2 24 | — | $96.7M |
| Q1 26 | — | — | ||
| Q4 25 | $86.7M | $1.2B | ||
| Q3 25 | $63.1M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $39.8M | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $569.4M | $-736.8M | ||
| Q3 25 | $504.7M | $-702.6M | ||
| Q2 25 | — | $-686.0M | ||
| Q1 25 | — | $-715.0M | ||
| Q4 24 | $489.0M | $-675.6M | ||
| Q3 24 | $457.0M | $-447.5M | ||
| Q2 24 | — | $-437.5M |
| Q1 26 | — | $648.9M | ||
| Q4 25 | $1.5B | $693.4M | ||
| Q3 25 | $1.4B | $721.0M | ||
| Q2 25 | — | $708.3M | ||
| Q1 25 | — | $696.8M | ||
| Q4 24 | $1.2B | $716.2M | ||
| Q3 24 | — | $484.8M | ||
| Q2 24 | — | $451.8M |
| Q1 26 | — | — | ||
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.08× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $100.4M | — |
| Free Cash FlowOCF − Capex | $99.8M | — |
| FCF MarginFCF / Revenue | 29.5% | — |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | 1.80× | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $100.4M | $57.3M | ||
| Q3 25 | $315.0M | $63.9M | ||
| Q2 25 | — | $6.6M | ||
| Q1 25 | — | $25.3M | ||
| Q4 24 | $-141.1M | $7.7M | ||
| Q3 24 | $108.3M | $69.0M | ||
| Q2 24 | — | $36.2M |
| Q1 26 | — | — | ||
| Q4 25 | $99.8M | $34.5M | ||
| Q3 25 | $313.4M | $61.7M | ||
| Q2 25 | — | $-7.8M | ||
| Q1 25 | — | $17.3M | ||
| Q4 24 | $-141.6M | $-8.6M | ||
| Q3 24 | $107.1M | $54.9M | ||
| Q2 24 | — | $25.9M |
| Q1 26 | — | — | ||
| Q4 25 | 29.5% | 19.6% | ||
| Q3 25 | 110.9% | 35.1% | ||
| Q2 25 | — | -4.5% | ||
| Q1 25 | — | 10.1% | ||
| Q4 24 | -69.2% | -5.3% | ||
| Q3 24 | 57.6% | 33.8% | ||
| Q2 24 | — | 16.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 13.0% | ||
| Q3 25 | 0.6% | 1.3% | ||
| Q2 25 | — | 8.2% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | 0.2% | 10.1% | ||
| Q3 24 | 0.7% | 8.7% | ||
| Q2 24 | — | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.80× | 2.14× | ||
| Q3 25 | 2.23× | 2.24× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | -4.75× | 0.29× | ||
| Q3 24 | 1.19× | 2.68× | ||
| Q2 24 | — | 1.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLO
Segment breakdown not available.
WING
| Royalty revenue, franchise fees and other | $87.5M | 48% |
| Advertising fees | $63.3M | 34% |
| Company-owned restaurant sales | $33.0M | 18% |
