Domino's Pizza vs Wingstop: Revenue, Profit and Business Model
Domino's Pizza had $4.9B of annual revenue in FY2025. Wingstop had $696.9M of annual revenue in FY2025 and $174.3M of net income.
Latest financial snapshot
Domino's Pizza
- Latest annual revenue
- $4.9B (FY2025)
- Net income
- Unavailable here
- Net margin
- —
- Revenue growth
- +4.7% a year, FY2021–FY2025
Wingstop
- Latest annual revenue
- $696.9M (FY2025)
- Net income
- $174.3M
- Net margin
- 25.0%
- Revenue growth
- +23.6% a year, FY2016–FY2025
Financial summary
Domino's Pizza
Domino's revenue grew from $4.48 billion in FY2023 to $4.71 billion in FY2024 and $4.94 billion in FY2025, when net income reached $601.7 million. In FY2025 U.S. same-store sales rose 3.0%, international same-store sales rose 1.9% (its 32nd straight year of international comp growth), and the system added 776 net stores. Growth slowed in 2026: Q2 2026 revenue was $1.19 billion (+4.3%), net income $135.8 million, diluted EPS $4.07 and global retail sales rose 3.0% excluding currency, helped by 995 net new stores over the trailing four quarters. The company has raised its dividend for 12 consecutive years and carries a $1 billion share repurchase authorization. Domino's Pizza, Inc. is the largest pizza company in the world based on global retail sales, maintaining a market valuation typically over $15 billion.
Wingstop
Revenue rose 11.4% to $696.9 million in fiscal 2025 (ended December 27, 2025). GAAP net income jumped 60.3% to $174.3 million, but that figure includes a one-time gain on the sale of Wingstop's minority stake in Lemon Pepper Holdings, its UK master franchisee; adjusted net income grew 3.8% to $114.5 million and adjusted EBITDA rose 15.2% to $244.2 million. In Q2 2026 (ended June 27, 2026) revenue grew 6.4% to $185.6 million and net income rose 16.9% to $31.3 million, as new restaurants offset a 7.5% drop in domestic same store sales. Wingstop Inc. is an incredibly fast-growing American multinational chain of aviation-themed restaurants specializing entirely in chicken wings, commanding a massive market valuation exceeding $10 billion.
Revenue and profit by year
Domino's Pizza
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $4.9B | — | — | +5.0% | Source |
| FY2024 | $4.7B | — | — | +5.1% | Source |
| FY2023 | $4.5B | — | — | +2.8% | Source |
| FY2022 | $4.4B | $510.5M | 11.7% | +5.8% | Source |
| FY2021 | $4.1B | $491.3M | 11.9% | — | Source |
Wingstop
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $696.9M | $174.3M | 25.0% | +11.4% | Source |
| FY2024 | $625.8M | $108.7M | 17.4% | +36.0% | Source |
| FY2023 | $460.1M | $70.2M | 15.3% | +28.7% | Source |
| FY2022 | $357.5M | $52.9M | 14.8% | +26.6% | Source |
| FY2021 | $282.5M | $42.7M | 15.1% | +13.5% | Source |
| FY2020 | $248.8M | $23.3M | 9.4% | +24.6% | Source |
| FY2019 | $199.7M | $20.5M | 10.3% | +30.4% | Source |
| FY2018 | $153.2M | $21.7M | 14.2% | +14.9% | Source |
| FY2017 | $133.3M | $23.9M | 18.0% | +29.0% | Source |
| FY2016 | $103.3M | $13.8M | 13.3% | — | Source |
Where the revenue comes from
Domino's Pizza
- Supply ChainLargest
Sales of food, equipment, and supplies to Domino's stores, especially in the U.S. and Canada.
- Franchise Royalties and Fees
High-margin
Royalties, fees, and related revenue from U.S. and international franchised stores.
- Company-Owned StoresSmaller
Revenue from stores operated directly by Domino's.
Wingstop
- Royalty revenue, franchise fees and other
~47% (Q4 2025)
Royalties on franchisee sales, development and franchise fees, and vendor rebates. This line was $81.9 million in Q4 2025.
- Advertising fees
Not disclosed here
Contributions to the national advertising fund, set at 5.5% of sales from fiscal 2025. These fees pay for system-wide marketing.
- Company-owned restaurant sales
Not disclosed here
Food and beverage sales at company-owned restaurants, which numbered 57 at the end of Q2 2026.
Business model and strategy
Domino's Pizza
How it makes money
Domino's runs a heavily franchised, asset-light model. Independent franchisees own almost all stores, and the corporate company earns money in three main ways: (1) supply-chain sales, where regional dough-manufacturing and distribution centers sell dough, cheese, other food, equipment and supplies to U.S. and Canadian stores, which is the largest revenue line but lower-margin; (2) royalties and fees from U.S.
Growth strategy
Domino's 'Hungry for MORE' strategy, launched in late 2023, focuses on more sales, more stores and more profits. Its levers are the Domino's Rewards loyalty program, value promotions, new menu items, presence on Uber Eats and DoorDash alongside its own delivery, carryout growth, and steady unit expansion, especially internationally, where 604 net stores opened in 2025.
Competitive advantage
Domino's main advantages are scale and focus. Its supply chain spreads dough production and distribution costs over thousands of stores, its own ordering apps and loyalty program capture most orders digitally, and its 'fortressing' strategy of adding stores inside existing delivery areas shortens delivery times and grows carryout.
Wingstop
How it makes money
Wingstop earns most of its money from franchisees rather than from selling food itself. It reports three revenue lines: royalty revenue, franchise fees and other; advertising fees paid into the national advertising fund (5.5% of sales since fiscal 2025); and sales at a small group of company-owned restaurants (57 at the end of Q2 2026).
Growth strategy
Growth rests on new franchised units in the US and abroad (102 net openings in Q2 2026, six new international markets in 2025), the Smart Kitchen platform installed in all 2,586 domestic restaurants during 2025, the national Club Wingstop loyalty launch in 2026, and flavor and value promotions.
Competitive advantage
Wingstop's edge comes from a franchised, low-capital model, a digital ordering base that handles roughly seven in ten orders, a simple menu, and a development pipeline that added 493 net new restaurants in 2025.
Questions about Domino's Pizza vs Wingstop
Which company has higher revenue — Domino's Pizza, Inc. or Wingstop Inc.?
Domino's Pizza, Inc. had $4.9B (FY2025), while Wingstop Inc. had $696.9M (FY2025). By latest annual revenue, Domino's Pizza, Inc. is the larger business, with Wingstop Inc. showing a smaller revenue base.
What is the market cap of Domino's Pizza, Inc. vs Wingstop Inc.?
Domino's Pizza, Inc. has a market capitalisation of $9.9B. A public market cap figure for Wingstop Inc. was not available (it may be privately held).
How does revenue per employee compare for Domino's Pizza, Inc. and Wingstop Inc.?
Domino's Pizza, Inc. has $470k / employee in revenue per employee, while Wingstop Inc. has $594k / employee. Headcounts may use different dates, so the ratio alone does not establish which business operates more efficiently.
How do Domino's Pizza, Inc. and Wingstop Inc. make money?
Domino's Pizza, Inc. and Wingstop Inc. generate revenue in fundamentally different ways. Domino's Pizza, Inc.: Domino's runs a heavily franchised, asset-light model. Wingstop Inc.: Wingstop earns most of its money from franchisees rather than from selling food itself.
Is Domino's Pizza, Inc. bigger than Wingstop Inc.?
By last reported revenue, Domino's Pizza, Inc. ($4.9B (FY2025)) is the larger company compared to Wingstop Inc. ($696.9M (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Domino's Pizza vs Wingstop overview