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Side-by-side financial comparison of Wingstop Inc. (WING) and Yum China Holdings, Inc. (YUMC). Click either name above to swap in a different company.
Yum China Holdings, Inc. is the larger business by last-quarter revenue ($2.8B vs $175.7M, roughly 16.1× Wingstop Inc.). Wingstop Inc. runs the higher net margin — 15.2% vs 5.0%, a 10.3% gap on every dollar of revenue. On growth, Yum China Holdings, Inc. posted the faster year-over-year revenue change (8.8% vs 8.6%). Wingstop Inc. produced more free cash flow last quarter ($34.5M vs $-116.0M). Over the past eight quarters, Wingstop Inc.'s revenue compounded faster (9.8% CAGR vs -2.3%).
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.
Yum China Holdings, Inc. is an American-Chinese Fortune 500 fast-food restaurant company based in Shanghai, China. With US$9.5 billion in revenue and 10,600 restaurants worldwide it is one of the largest restaurant companies. It was spun off from Yum! Brands in 2016, becoming an independent, publicly traded company on November 1, 2016. Yum China is a trademark licensee of Yum Brands, paying 3% of total systemwide sales to Yum Brands. It operates 8,484 restaurants in over 1,100 cities located ...
WING vs YUMC — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $175.7M | $2.8B |
| Net Profit | $26.8M | $140.0M |
| Gross Margin | — | — |
| Operating Margin | 26.7% | 6.6% |
| Net Margin | 15.2% | 5.0% |
| Revenue YoY | 8.6% | 8.8% |
| Net Profit YoY | 0.0% | 21.7% |
| EPS (diluted) | $0.99 | $0.40 |
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 | $175.7M | $2.8B | ||
| Q3 25 | $175.7M | $3.2B | ||
| Q2 25 | $174.3M | $2.8B | ||
| Q1 25 | $171.1M | $3.0B | ||
| Q4 24 | $161.8M | $2.6B | ||
| Q3 24 | $162.5M | $3.1B | ||
| Q2 24 | $155.7M | $2.7B | ||
| Q1 24 | $145.8M | $3.0B |
| Q4 25 | $26.8M | $140.0M | ||
| Q3 25 | $28.5M | $282.0M | ||
| Q2 25 | $26.8M | $215.0M | ||
| Q1 25 | $92.3M | $292.0M | ||
| Q4 24 | $26.8M | $115.0M | ||
| Q3 24 | $25.7M | $297.0M | ||
| Q2 24 | $27.5M | $212.0M | ||
| Q1 24 | $28.7M | $287.0M |
| 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 | 26.7% | 6.6% | ||
| Q3 25 | 27.9% | 12.5% | ||
| Q2 25 | 25.9% | 10.9% | ||
| Q1 25 | 22.4% | 13.4% | ||
| Q4 24 | 25.9% | 5.8% | ||
| Q3 24 | 24.5% | 12.1% | ||
| Q2 24 | 26.5% | 9.9% | ||
| Q1 24 | 29.3% | 12.6% |
| Q4 25 | 15.2% | 5.0% | ||
| Q3 25 | 16.2% | 8.8% | ||
| Q2 25 | 15.4% | 7.7% | ||
| Q1 25 | 53.9% | 9.8% | ||
| Q4 24 | 16.5% | 4.4% | ||
| Q3 24 | 15.8% | 9.7% | ||
| Q2 24 | 17.7% | 7.9% | ||
| Q1 24 | 19.7% | 9.7% |
| Q4 25 | $0.99 | $0.40 | ||
| Q3 25 | $1.02 | $0.76 | ||
| Q2 25 | $0.96 | $0.58 | ||
| Q1 25 | $3.24 | $0.77 | ||
| Q4 24 | $0.91 | $0.30 | ||
| Q3 24 | $0.88 | $0.77 | ||
| Q2 24 | $0.93 | $0.55 | ||
| Q1 24 | $0.98 | $0.71 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $196.6M | $1.4B |
| Total DebtLower is stronger | $1.2B | — |
| Stockholders' EquityBook value | $-736.8M | $5.4B |
| Total Assets | $693.4M | $10.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $196.6M | $1.4B | ||
| Q3 25 | $237.6M | $2.1B | ||
| Q2 25 | $227.9M | $2.2B | ||
| Q1 25 | $251.4M | $2.0B | ||
| Q4 24 | $315.9M | $1.8B | ||
| Q3 24 | $84.0M | $2.5B | ||
| Q2 24 | $96.7M | $2.5B | ||
| Q1 24 | $108.3M | $2.4B |
| Q4 25 | $1.2B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-736.8M | $5.4B | ||
| Q3 25 | $-702.6M | $5.7B | ||
| Q2 25 | $-686.0M | $5.8B | ||
| Q1 25 | $-715.0M | $5.8B | ||
| Q4 24 | $-675.6M | $5.7B | ||
| Q3 24 | $-447.5M | $6.0B | ||
| Q2 24 | $-437.5M | $5.8B | ||
| Q1 24 | $-434.4M | $5.9B |
| Q4 25 | $693.4M | $10.8B | ||
| Q3 25 | $721.0M | $11.0B | ||
| Q2 25 | $708.3M | $11.0B | ||
| Q1 25 | $696.8M | $11.0B | ||
| Q4 24 | $716.2M | $11.1B | ||
| Q3 24 | $484.8M | $11.8B | ||
| Q2 24 | $451.8M | $11.6B | ||
| Q1 24 | $412.3M | $11.3B |
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 | $57.3M | $125.0M |
| Free Cash FlowOCF − Capex | $34.5M | $-116.0M |
| FCF MarginFCF / Revenue | 19.6% | -4.1% |
| Capex IntensityCapex / Revenue | 13.0% | 8.5% |
| Cash ConversionOCF / Net Profit | 2.14× | 0.89× |
| TTM Free Cash FlowTrailing 4 quarters | $105.6M | $840.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.3M | $125.0M | ||
| Q3 25 | $63.9M | $477.0M | ||
| Q2 25 | $6.6M | $412.0M | ||
| Q1 25 | $25.3M | $452.0M | ||
| Q4 24 | $7.7M | $167.0M | ||
| Q3 24 | $69.0M | $409.0M | ||
| Q2 24 | $36.2M | $401.0M | ||
| Q1 24 | $44.7M | $442.0M |
| Q4 25 | $34.5M | $-116.0M | ||
| Q3 25 | $61.7M | $351.0M | ||
| Q2 25 | $-7.8M | $290.0M | ||
| Q1 25 | $17.3M | $315.0M | ||
| Q4 24 | $-8.6M | $-15.0M | ||
| Q3 24 | $54.9M | $244.0M | ||
| Q2 24 | $25.9M | $232.0M | ||
| Q1 24 | $33.5M | $253.0M |
| Q4 25 | 19.6% | -4.1% | ||
| Q3 25 | 35.1% | 10.9% | ||
| Q2 25 | -4.5% | 10.4% | ||
| Q1 25 | 10.1% | 10.6% | ||
| Q4 24 | -5.3% | -0.6% | ||
| Q3 24 | 33.8% | 7.9% | ||
| Q2 24 | 16.6% | 8.7% | ||
| Q1 24 | 23.0% | 8.6% |
| Q4 25 | 13.0% | 8.5% | ||
| Q3 25 | 1.3% | 3.9% | ||
| Q2 25 | 8.2% | 4.4% | ||
| Q1 25 | 4.7% | 4.6% | ||
| Q4 24 | 10.1% | 7.0% | ||
| Q3 24 | 8.7% | 5.4% | ||
| Q2 24 | 6.6% | 6.3% | ||
| Q1 24 | 7.7% | 6.4% |
| Q4 25 | 2.14× | 0.89× | ||
| Q3 25 | 2.24× | 1.69× | ||
| Q2 25 | 0.25× | 1.92× | ||
| Q1 25 | 0.27× | 1.55× | ||
| Q4 24 | 0.29× | 1.45× | ||
| Q3 24 | 2.68× | 1.38× | ||
| Q2 24 | 1.32× | 1.89× | ||
| Q1 24 | 1.55× | 1.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
WING
| Royalty | $73.7M | 42% |
| Advertising | $61.4M | 35% |
| Franchisor Owned Outlet | $32.4M | 18% |
| Other | $6.4M | 4% |
| Franchise | $1.8M | 1% |
YUMC
| Revenue From External Customers | $2.1B | 75% |
| Pizza Hut | $540.0M | 19% |
| Corporate And Unallocated | $105.0M | 4% |
| Other Revenue | $45.0M | 2% |
| Franchise Fees And Income | $25.0M | 1% |
