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Side-by-side financial comparison of Fastly, Inc. (FSLY) 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 $172.6M, roughly 1.1× Fastly, Inc.). Wingstop Inc. runs the higher net margin — 16.3% vs -9.0%, a 25.2% gap on every dollar of revenue. On growth, Fastly, Inc. posted the faster year-over-year revenue change (22.8% vs 7.4%). Over the past eight quarters, Fastly, Inc.'s revenue compounded faster (13.7% CAGR vs 8.6%).
Fastly, Inc. is an American company based in San Francisco, which describes itself as a cloud computing company. Fastly provides content delivery network services, image optimization, and load balancing services. Fastly's cloud security services include denial-of-service attack protection, bot mitigation, and a web application firewall.
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.
FSLY vs WING — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $172.6M | $183.7M |
| Net Profit | $-15.5M | $29.9M |
| Gross Margin | 61.4% | 86.5% |
| Operating Margin | -8.7% | 27.4% |
| Net Margin | -9.0% | 16.3% |
| Revenue YoY | 22.8% | 7.4% |
| Net Profit YoY | 52.9% | — |
| EPS (diluted) | $-0.10 | $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 | $172.6M | $175.7M | ||
| Q3 25 | $158.2M | $175.7M | ||
| Q2 25 | $148.7M | $174.3M | ||
| Q1 25 | $144.5M | $171.1M | ||
| Q4 24 | $140.6M | $161.8M | ||
| Q3 24 | $137.2M | $162.5M | ||
| Q2 24 | $132.4M | $155.7M |
| Q1 26 | — | $29.9M | ||
| Q4 25 | $-15.5M | $26.8M | ||
| Q3 25 | $-29.5M | $28.5M | ||
| Q2 25 | $-37.5M | $26.8M | ||
| Q1 25 | $-39.1M | $92.3M | ||
| Q4 24 | $-32.9M | $26.8M | ||
| Q3 24 | $-38.0M | $25.7M | ||
| Q2 24 | $-43.7M | $27.5M |
| Q1 26 | — | 86.5% | ||
| Q4 25 | 61.4% | — | ||
| Q3 25 | 58.4% | — | ||
| Q2 25 | 54.5% | — | ||
| Q1 25 | 53.2% | — | ||
| Q4 24 | 53.4% | 85.6% | ||
| Q3 24 | 54.5% | 85.0% | ||
| Q2 24 | 55.1% | 85.4% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | -8.7% | 26.7% | ||
| Q3 25 | -18.2% | 27.9% | ||
| Q2 25 | -24.8% | 25.9% | ||
| Q1 25 | -26.4% | 22.4% | ||
| Q4 24 | -24.4% | 25.9% | ||
| Q3 24 | -29.6% | 24.5% | ||
| Q2 24 | -35.3% | 26.5% |
| Q1 26 | — | 16.3% | ||
| Q4 25 | -9.0% | 15.2% | ||
| Q3 25 | -18.6% | 16.2% | ||
| Q2 25 | -25.2% | 15.4% | ||
| Q1 25 | -27.1% | 53.9% | ||
| Q4 24 | -23.4% | 16.5% | ||
| Q3 24 | -27.7% | 15.8% | ||
| Q2 24 | -33.0% | 17.7% |
| Q1 26 | — | $1.08 | ||
| Q4 25 | $-0.10 | $0.99 | ||
| Q3 25 | $-0.20 | $1.02 | ||
| Q2 25 | $-0.26 | $0.96 | ||
| Q1 25 | $-0.27 | $3.24 | ||
| Q4 24 | $-0.23 | $0.91 | ||
| Q3 24 | $-0.27 | $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 | $361.8M | $128.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $929.6M | — |
| Total Assets | $1.5B | $648.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $128.8M | ||
| Q4 25 | $361.8M | $196.6M | ||
| Q3 25 | $342.9M | $237.6M | ||
| Q2 25 | $321.2M | $227.9M | ||
| Q1 25 | $307.3M | $251.4M | ||
| Q4 24 | $295.9M | $315.9M | ||
| Q3 24 | $308.2M | $84.0M | ||
| Q2 24 | $311.8M | $96.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $929.6M | $-736.8M | ||
| Q3 25 | $937.0M | $-702.6M | ||
| Q2 25 | $942.6M | $-686.0M | ||
| Q1 25 | $957.0M | $-715.0M | ||
| Q4 24 | $965.3M | $-675.6M | ||
| Q3 24 | $969.5M | $-447.5M | ||
| Q2 24 | $981.2M | $-437.5M |
| Q1 26 | — | $648.9M | ||
| Q4 25 | $1.5B | $693.4M | ||
| Q3 25 | $1.5B | $721.0M | ||
| Q2 25 | $1.5B | $708.3M | ||
| Q1 25 | $1.4B | $696.8M | ||
| Q4 24 | $1.5B | $716.2M | ||
| Q3 24 | $1.5B | $484.8M | ||
| Q2 24 | $1.5B | $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 | $22.4M | — |
| Free Cash FlowOCF − Capex | $12.2M | — |
| FCF MarginFCF / Revenue | 7.1% | — |
| Capex IntensityCapex / Revenue | 5.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $65.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $22.4M | $57.3M | ||
| Q3 25 | $28.9M | $63.9M | ||
| Q2 25 | $25.8M | $6.6M | ||
| Q1 25 | $17.3M | $25.3M | ||
| Q4 24 | $5.2M | $7.7M | ||
| Q3 24 | $5.0M | $69.0M | ||
| Q2 24 | $-4.9M | $36.2M |
| Q1 26 | — | — | ||
| Q4 25 | $12.2M | $34.5M | ||
| Q3 25 | $22.9M | $61.7M | ||
| Q2 25 | $15.9M | $-7.8M | ||
| Q1 25 | $14.7M | $17.3M | ||
| Q4 24 | $251.0K | $-8.6M | ||
| Q3 24 | $3.0M | $54.9M | ||
| Q2 24 | $-6.7M | $25.9M |
| Q1 26 | — | — | ||
| Q4 25 | 7.1% | 19.6% | ||
| Q3 25 | 14.5% | 35.1% | ||
| Q2 25 | 10.7% | -4.5% | ||
| Q1 25 | 10.2% | 10.1% | ||
| Q4 24 | 0.2% | -5.3% | ||
| Q3 24 | 2.2% | 33.8% | ||
| Q2 24 | -5.1% | 16.6% |
| Q1 26 | — | — | ||
| Q4 25 | 5.9% | 13.0% | ||
| Q3 25 | 3.8% | 1.3% | ||
| Q2 25 | 6.6% | 8.2% | ||
| Q1 25 | 1.8% | 4.7% | ||
| Q4 24 | 3.5% | 10.1% | ||
| Q3 24 | 1.5% | 8.7% | ||
| Q2 24 | 1.3% | 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
FSLY
| Network Services | $130.8M | 76% |
| Security | $35.4M | 21% |
| Other | $6.4M | 4% |
WING
| Royalty revenue, franchise fees and other | $87.5M | 48% |
| Advertising fees | $63.3M | 34% |
| Company-owned restaurant sales | $33.0M | 18% |
