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Side-by-side financial comparison of ONE Group Hospitality, Inc. (STKS) and Wingstop Inc. (WING). Click either name above to swap in a different company.
ONE Group Hospitality, Inc. is the larger business by last-quarter revenue ($207.0M vs $175.7M, roughly 1.2× Wingstop Inc.). Wingstop Inc. runs the higher net margin — 15.2% vs -3.1%, a 18.3% gap on every dollar of revenue. On growth, Wingstop Inc. posted the faster year-over-year revenue change (8.6% vs -6.7%). Wingstop Inc. produced more free cash flow last quarter ($34.5M vs $-329.0K). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% CAGR vs 9.8%).
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
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.
STKS vs WING — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $207.0M | $175.7M |
| Net Profit | $-6.4M | $26.8M |
| Gross Margin | — | — |
| Operating Margin | 2.2% | 26.7% |
| Net Margin | -3.1% | 15.2% |
| Revenue YoY | -6.7% | 8.6% |
| Net Profit YoY | -531.8% | 0.0% |
| EPS (diluted) | $-0.50 | $0.99 |
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.
| Q4 25 | $207.0M | $175.7M | ||
| Q3 25 | $180.2M | $175.7M | ||
| Q2 25 | $207.4M | $174.3M | ||
| Q1 25 | $211.1M | $171.1M | ||
| Q4 24 | $221.9M | $161.8M | ||
| Q3 24 | $194.0M | $162.5M | ||
| Q2 24 | $172.5M | $155.7M | ||
| Q1 24 | $85.0M | $145.8M |
| Q4 25 | $-6.4M | $26.8M | ||
| Q3 25 | $-76.7M | $28.5M | ||
| Q2 25 | $-10.1M | $26.8M | ||
| Q1 25 | $975.0K | $92.3M | ||
| Q4 24 | $1.5M | $26.8M | ||
| Q3 24 | $-9.3M | $25.7M | ||
| Q2 24 | $-7.3M | $27.5M | ||
| Q1 24 | $-2.1M | $28.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 85.6% | ||
| Q3 24 | — | 85.0% | ||
| Q2 24 | — | 85.4% | ||
| Q1 24 | — | 85.4% |
| Q4 25 | 2.2% | 26.7% | ||
| Q3 25 | -4.4% | 27.9% | ||
| Q2 25 | 0.3% | 25.9% | ||
| Q1 25 | 5.1% | 22.4% | ||
| Q4 24 | 5.5% | 25.9% | ||
| Q3 24 | -1.9% | 24.5% | ||
| Q2 24 | 0.6% | 26.5% | ||
| Q1 24 | -0.7% | 29.3% |
| Q4 25 | -3.1% | 15.2% | ||
| Q3 25 | -42.6% | 16.2% | ||
| Q2 25 | -4.9% | 15.4% | ||
| Q1 25 | 0.5% | 53.9% | ||
| Q4 24 | 0.7% | 16.5% | ||
| Q3 24 | -4.8% | 15.8% | ||
| Q2 24 | -4.3% | 17.7% | ||
| Q1 24 | -2.4% | 19.7% |
| Q4 25 | $-0.50 | $0.99 | ||
| Q3 25 | $-2.75 | $1.02 | ||
| Q2 25 | $-0.59 | $0.96 | ||
| Q1 25 | $-0.21 | $3.24 | ||
| Q4 24 | $-0.18 | $0.91 | ||
| Q3 24 | $-0.53 | $0.88 | ||
| Q2 24 | $-0.38 | $0.93 | ||
| Q1 24 | $-0.07 | $0.98 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.2M | $196.6M |
| Total DebtLower is stronger | $354.2M | $1.2B |
| Stockholders' EquityBook value | $-75.8M | $-736.8M |
| Total Assets | $884.2M | $693.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.2M | $196.6M | ||
| Q3 25 | $5.5M | $237.6M | ||
| Q2 25 | $4.7M | $227.9M | ||
| Q1 25 | $21.4M | $251.4M | ||
| Q4 24 | $27.6M | $315.9M | ||
| Q3 24 | $28.2M | $84.0M | ||
| Q2 24 | $32.2M | $96.7M | ||
| Q1 24 | $15.4M | $108.3M |
| Q4 25 | $354.2M | $1.2B | ||
| Q3 25 | $355.0M | — | ||
| Q2 25 | $347.4M | — | ||
| Q1 25 | $348.3M | — | ||
| Q4 24 | $348.3M | $1.2B | ||
| Q3 24 | $349.1M | — | ||
| Q2 24 | $350.0M | — | ||
| Q1 24 | $73.5M | — |
| Q4 25 | $-75.8M | $-736.8M | ||
| Q3 25 | $-61.5M | $-702.6M | ||
| Q2 25 | $23.0M | $-686.0M | ||
| Q1 25 | $40.5M | $-715.0M | ||
| Q4 24 | $45.9M | $-675.6M | ||
| Q3 24 | $51.4M | $-447.5M | ||
| Q2 24 | $68.1M | $-437.5M | ||
| Q1 24 | $68.3M | $-434.4M |
| Q4 25 | $884.2M | $693.4M | ||
| Q3 25 | $879.5M | $721.0M | ||
| Q2 25 | $935.7M | $708.3M | ||
| Q1 25 | $956.0M | $696.8M | ||
| Q4 24 | $960.1M | $716.2M | ||
| Q3 24 | $953.5M | $484.8M | ||
| Q2 24 | $945.9M | $451.8M | ||
| Q1 24 | $309.3M | $412.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 15.07× | — | ||
| Q1 25 | 8.61× | — | ||
| Q4 24 | 7.59× | — | ||
| Q3 24 | 6.79× | — | ||
| Q2 24 | 5.14× | — | ||
| Q1 24 | 1.08× | — |
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 | $13.1M | $57.3M |
| Free Cash FlowOCF − Capex | $-329.0K | $34.5M |
| FCF MarginFCF / Revenue | -0.2% | 19.6% |
| Capex IntensityCapex / Revenue | 6.5% | 13.0% |
| Cash ConversionOCF / Net Profit | — | 2.14× |
| TTM Free Cash FlowTrailing 4 quarters | $-27.3M | $105.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | $57.3M | ||
| Q3 25 | $5.9M | $63.9M | ||
| Q2 25 | $2.8M | $6.6M | ||
| Q1 25 | $8.5M | $25.3M | ||
| Q4 24 | $18.5M | $7.7M | ||
| Q3 24 | $19.1M | $69.0M | ||
| Q2 24 | $-3.8M | $36.2M | ||
| Q1 24 | $10.4M | $44.7M |
| Q4 25 | $-329.0K | $34.5M | ||
| Q3 25 | $-6.1M | $61.7M | ||
| Q2 25 | $-15.0M | $-7.8M | ||
| Q1 25 | $-5.8M | $17.3M | ||
| Q4 24 | $733.0K | $-8.6M | ||
| Q3 24 | $287.0K | $54.9M | ||
| Q2 24 | $-23.0M | $25.9M | ||
| Q1 24 | $-5.4M | $33.5M |
| Q4 25 | -0.2% | 19.6% | ||
| Q3 25 | -3.4% | 35.1% | ||
| Q2 25 | -7.2% | -4.5% | ||
| Q1 25 | -2.7% | 10.1% | ||
| Q4 24 | 0.3% | -5.3% | ||
| Q3 24 | 0.1% | 33.8% | ||
| Q2 24 | -13.3% | 16.6% | ||
| Q1 24 | -6.4% | 23.0% |
| Q4 25 | 6.5% | 13.0% | ||
| Q3 25 | 6.7% | 1.3% | ||
| Q2 25 | 8.6% | 8.2% | ||
| Q1 25 | 6.8% | 4.7% | ||
| Q4 24 | 8.0% | 10.1% | ||
| Q3 24 | 9.7% | 8.7% | ||
| Q2 24 | 11.1% | 6.6% | ||
| Q1 24 | 18.6% | 7.7% |
| Q4 25 | — | 2.14× | ||
| Q3 25 | — | 2.24× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | 8.76× | 0.27× | ||
| Q4 24 | 12.54× | 0.29× | ||
| Q3 24 | — | 2.68× | ||
| Q2 24 | — | 1.32× | ||
| Q1 24 | — | 1.55× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
WING
| Royalty | $73.7M | 42% |
| Advertising | $61.4M | 35% |
| Franchisor Owned Outlet | $32.4M | 18% |
| Other | $6.4M | 4% |
| Franchise | $1.8M | 1% |
