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Side-by-side financial comparison of FLYEXCLUSIVE INC. (FLYX) and Wingstop Inc. (WING). Click either name above to swap in a different company.
Wingstop Inc. is the larger business by last-quarter revenue ($183.7M vs $92.1M, roughly 2.0× FLYEXCLUSIVE INC.). Wingstop Inc. runs the higher net margin — 16.3% vs -4.6%, a 20.9% gap on every dollar of revenue. On growth, FLYEXCLUSIVE INC. posted the faster year-over-year revenue change (19.8% vs 7.4%). Over the past eight quarters, FLYEXCLUSIVE INC.'s revenue compounded faster (21.9% CAGR vs 8.6%).
FLYEXCLUSIVE INC. is a U.S.-headquartered private aviation services provider that offers private jet charter, aircraft management, maintenance repair, and fractional ownership programs. It primarily serves high-net-worth individuals, corporate clients, and government entities across North America, delivering personalized on-demand air travel solutions prioritizing safety and convenience.
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.
FLYX vs WING — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $92.1M | $183.7M |
| Net Profit | $-4.3M | $29.9M |
| Gross Margin | 13.7% | 86.5% |
| Operating Margin | -12.3% | 27.4% |
| Net Margin | -4.6% | 16.3% |
| Revenue YoY | 19.8% | 7.4% |
| Net Profit YoY | 32.0% | — |
| EPS (diluted) | $-0.25 | $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 | — | $175.7M | ||
| Q3 25 | $92.1M | $175.7M | ||
| Q2 25 | $91.3M | $174.3M | ||
| Q1 25 | $88.1M | $171.1M | ||
| Q4 24 | — | $161.8M | ||
| Q3 24 | $76.9M | $162.5M | ||
| Q2 24 | $79.0M | $155.7M |
| Q1 26 | — | $29.9M | ||
| Q4 25 | — | $26.8M | ||
| Q3 25 | $-4.3M | $28.5M | ||
| Q2 25 | $-4.8M | $26.8M | ||
| Q1 25 | $-5.4M | $92.3M | ||
| Q4 24 | — | $26.8M | ||
| Q3 24 | $-6.3M | $25.7M | ||
| Q2 24 | $-5.2M | $27.5M |
| Q1 26 | — | 86.5% | ||
| Q4 25 | — | — | ||
| Q3 25 | 13.7% | — | ||
| Q2 25 | 15.0% | — | ||
| Q1 25 | 12.8% | — | ||
| Q4 24 | — | 85.6% | ||
| Q3 24 | 11.3% | 85.0% | ||
| Q2 24 | 7.9% | 85.4% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | — | 26.7% | ||
| Q3 25 | -12.3% | 27.9% | ||
| Q2 25 | -13.5% | 25.9% | ||
| Q1 25 | -16.7% | 22.4% | ||
| Q4 24 | — | 25.9% | ||
| Q3 24 | -27.2% | 24.5% | ||
| Q2 24 | -27.6% | 26.5% |
| Q1 26 | — | 16.3% | ||
| Q4 25 | — | 15.2% | ||
| Q3 25 | -4.6% | 16.2% | ||
| Q2 25 | -5.2% | 15.4% | ||
| Q1 25 | -6.2% | 53.9% | ||
| Q4 24 | — | 16.5% | ||
| Q3 24 | -8.2% | 15.8% | ||
| Q2 24 | -6.5% | 17.7% |
| Q1 26 | — | $1.08 | ||
| Q4 25 | — | $0.99 | ||
| Q3 25 | $-0.25 | $1.02 | ||
| Q2 25 | $-0.26 | $0.96 | ||
| Q1 25 | $-0.30 | $3.24 | ||
| Q4 24 | — | $0.91 | ||
| Q3 24 | $-0.32 | $0.88 | ||
| Q2 24 | $-0.32 | $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 | $18.7M | $128.8M |
| Total DebtLower is stronger | $123.9M | — |
| Stockholders' EquityBook value | $-434.2M | — |
| Total Assets | $448.1M | $648.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $128.8M | ||
| Q4 25 | — | $196.6M | ||
| Q3 25 | $18.7M | $237.6M | ||
| Q2 25 | $15.8M | $227.9M | ||
| Q1 25 | $14.7M | $251.4M | ||
| Q4 24 | — | $315.9M | ||
| Q3 24 | $18.7M | $84.0M | ||
| Q2 24 | $9.3M | $96.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | $123.9M | — | ||
| Q2 25 | $111.6M | — | ||
| Q1 25 | $121.6M | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $197.9M | — | ||
| Q2 24 | $206.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $-736.8M | ||
| Q3 25 | $-434.2M | $-702.6M | ||
| Q2 25 | $-261.4M | $-686.0M | ||
| Q1 25 | $-281.5M | $-715.0M | ||
| Q4 24 | — | $-675.6M | ||
| Q3 24 | $-192.0M | $-447.5M | ||
| Q2 24 | $-149.7M | $-437.5M |
| Q1 26 | — | $648.9M | ||
| Q4 25 | — | $693.4M | ||
| Q3 25 | $448.1M | $721.0M | ||
| Q2 25 | $443.4M | $708.3M | ||
| Q1 25 | $466.8M | $696.8M | ||
| Q4 24 | — | $716.2M | ||
| Q3 24 | $487.1M | $484.8M | ||
| Q2 24 | $494.7M | $451.8M |
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 | $-209.0K | — |
| Free Cash FlowOCF − Capex | $-11.0M | — |
| FCF MarginFCF / Revenue | -12.0% | — |
| Capex IntensityCapex / Revenue | 11.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-51.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $57.3M | ||
| Q3 25 | $-209.0K | $63.9M | ||
| Q2 25 | $363.0K | $6.6M | ||
| Q1 25 | $-10.5M | $25.3M | ||
| Q4 24 | — | $7.7M | ||
| Q3 24 | $-12.3M | $69.0M | ||
| Q2 24 | $-16.2M | $36.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $34.5M | ||
| Q3 25 | $-11.0M | $61.7M | ||
| Q2 25 | $353.0K | $-7.8M | ||
| Q1 25 | $-14.6M | $17.3M | ||
| Q4 24 | — | $-8.6M | ||
| Q3 24 | $-25.7M | $54.9M | ||
| Q2 24 | $-26.6M | $25.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 19.6% | ||
| Q3 25 | -12.0% | 35.1% | ||
| Q2 25 | 0.4% | -4.5% | ||
| Q1 25 | -16.5% | 10.1% | ||
| Q4 24 | — | -5.3% | ||
| Q3 24 | -33.5% | 33.8% | ||
| Q2 24 | -33.7% | 16.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 13.0% | ||
| Q3 25 | 11.7% | 1.3% | ||
| Q2 25 | 0.0% | 8.2% | ||
| Q1 25 | 4.7% | 4.7% | ||
| Q4 24 | — | 10.1% | ||
| Q3 24 | 17.5% | 8.7% | ||
| Q2 24 | 13.2% | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.14× | ||
| Q3 25 | — | 2.24× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 2.68× | ||
| Q2 24 | — | 1.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLYX
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% |
