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Side-by-side financial comparison of H2O AMERICA (HTO) and Wingstop Inc. (WING). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $183.7M, roughly 1.1× Wingstop Inc.). Wingstop Inc. runs the higher net margin — 16.3% vs 8.1%, a 8.1% gap on every dollar of revenue. On growth, Wingstop Inc. posted the faster year-over-year revenue change (7.4% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs 8.6%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
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.
HTO vs WING — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $183.7M |
| Net Profit | $16.2M | $29.9M |
| Gross Margin | — | 86.5% |
| Operating Margin | 16.6% | 27.4% |
| Net Margin | 8.1% | 16.3% |
| Revenue YoY | 1.5% | 7.4% |
| Net Profit YoY | -29.2% | — |
| EPS (diluted) | $0.45 | $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 | $199.4M | $175.7M | ||
| Q3 25 | $243.5M | $175.7M | ||
| Q2 25 | $197.8M | $174.3M | ||
| Q1 25 | $164.9M | $171.1M | ||
| Q4 24 | $196.5M | $161.8M | ||
| Q3 24 | $216.7M | $162.5M | ||
| Q2 24 | $173.1M | $155.7M |
| Q1 26 | — | $29.9M | ||
| Q4 25 | $16.2M | $26.8M | ||
| Q3 25 | $45.1M | $28.5M | ||
| Q2 25 | $24.7M | $26.8M | ||
| Q1 25 | $16.6M | $92.3M | ||
| Q4 24 | $22.9M | $26.8M | ||
| Q3 24 | $38.7M | $25.7M | ||
| Q2 24 | $20.7M | $27.5M |
| Q1 26 | — | 86.5% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 85.6% | ||
| Q3 24 | — | 85.0% | ||
| Q2 24 | — | 85.4% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | 16.6% | 26.7% | ||
| Q3 25 | 26.5% | 27.9% | ||
| Q2 25 | 22.2% | 25.9% | ||
| Q1 25 | 21.8% | 22.4% | ||
| Q4 24 | 22.2% | 25.9% | ||
| Q3 24 | 26.9% | 24.5% | ||
| Q2 24 | 23.4% | 26.5% |
| Q1 26 | — | 16.3% | ||
| Q4 25 | 8.1% | 15.2% | ||
| Q3 25 | 18.5% | 16.2% | ||
| Q2 25 | 12.5% | 15.4% | ||
| Q1 25 | 10.0% | 53.9% | ||
| Q4 24 | 11.7% | 16.5% | ||
| Q3 24 | 17.8% | 15.8% | ||
| Q2 24 | 12.0% | 17.7% |
| Q1 26 | — | $1.08 | ||
| Q4 25 | $0.45 | $0.99 | ||
| Q3 25 | $1.27 | $1.02 | ||
| Q2 25 | $0.71 | $0.96 | ||
| Q1 25 | $0.49 | $3.24 | ||
| Q4 24 | $0.70 | $0.91 | ||
| Q3 24 | $1.17 | $0.88 | ||
| Q2 24 | $0.64 | $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 | $20.7M | $128.8M |
| Total DebtLower is stronger | $1.9B | — |
| Stockholders' EquityBook value | $1.5B | — |
| Total Assets | $5.1B | $648.9M |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $128.8M | ||
| Q4 25 | $20.7M | $196.6M | ||
| Q3 25 | $11.3M | $237.6M | ||
| Q2 25 | $19.8M | $227.9M | ||
| Q1 25 | $23.7M | $251.4M | ||
| Q4 24 | $11.1M | $315.9M | ||
| Q3 24 | $4.0M | $84.0M | ||
| Q2 24 | $22.8M | $96.7M |
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $-736.8M | ||
| Q3 25 | $1.5B | $-702.6M | ||
| Q2 25 | $1.5B | $-686.0M | ||
| Q1 25 | $1.4B | $-715.0M | ||
| Q4 24 | $1.4B | $-675.6M | ||
| Q3 24 | $1.3B | $-447.5M | ||
| Q2 24 | $1.3B | $-437.5M |
| Q1 26 | — | $648.9M | ||
| Q4 25 | $5.1B | $693.4M | ||
| Q3 25 | $5.0B | $721.0M | ||
| Q2 25 | $4.8B | $708.3M | ||
| Q1 25 | $4.7B | $696.8M | ||
| Q4 24 | $4.7B | $716.2M | ||
| Q3 24 | $4.6B | $484.8M | ||
| Q2 24 | $4.4B | $451.8M |
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.26× | — | ||
| 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 | $63.5M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $63.5M | $57.3M | ||
| Q3 25 | $77.3M | $63.9M | ||
| Q2 25 | $60.8M | $6.6M | ||
| Q1 25 | $43.2M | $25.3M | ||
| Q4 24 | $41.5M | $7.7M | ||
| Q3 24 | $53.5M | $69.0M | ||
| Q2 24 | $49.3M | $36.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $34.5M | ||
| Q3 25 | — | $61.7M | ||
| Q2 25 | — | $-7.8M | ||
| Q1 25 | — | $17.3M | ||
| Q4 24 | — | $-8.6M | ||
| Q3 24 | — | $54.9M | ||
| Q2 24 | — | $25.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 19.6% | ||
| Q3 25 | — | 35.1% | ||
| Q2 25 | — | -4.5% | ||
| Q1 25 | — | 10.1% | ||
| Q4 24 | — | -5.3% | ||
| Q3 24 | — | 33.8% | ||
| Q2 24 | — | 16.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 13.0% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | 8.2% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | — | 10.1% | ||
| Q3 24 | — | 8.7% | ||
| Q2 24 | — | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | 3.92× | 2.14× | ||
| Q3 25 | 1.71× | 2.24× | ||
| Q2 25 | 2.47× | 0.25× | ||
| Q1 25 | 2.61× | 0.27× | ||
| Q4 24 | 1.81× | 0.29× | ||
| Q3 24 | 1.39× | 2.68× | ||
| Q2 24 | 2.38× | 1.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
WING
| Royalty revenue, franchise fees and other | $87.5M | 48% |
| Advertising fees | $63.3M | 34% |
| Company-owned restaurant sales | $33.0M | 18% |
