Looking back on traditional fast food stocks’ Q4 earnings, we examine this quarter’s best and worst performers, including Krispy Kreme (NASDAQ: DNUT) and its peers.

Traditional fast-food restaurants are renowned for their speed and convenience, boasting menus filled with familiar and budget-friendly items. Their reputations for on-the-go consumption make them favored destinations for individuals and families needing a quick meal. This class of restaurants, however, is fighting the perception that their meals are unhealthy and made with inferior ingredients, a battle that's especially relevant today given the consumers increasing focus on health and wellness.

The 12 traditional fast food stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 1.1%.

In light of this news, share prices of the companies have held steady as they are up 4.1% on average since the latest earnings results.

Best Q4: Krispy Kreme (NASDAQ: DNUT)

Famous for its Original Glazed doughnuts and parent company of Insomnia Cookies, Krispy Kreme (NASDAQ: DNUT) is one of the most beloved and well-known fast-food chains in the world.

Krispy Kreme reported revenues of $392.4 million, down 2.9% year on year. This print exceeded analysts’ expectations by 1%. Overall, it was an exceptional quarter for the company with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

“We are pleased to have ended 2025 with positive momentum, driven by quality growth in the U.S. with key strategic partners, higher digital sales, and international expansion. In 2026, we look forward to building on this momentum through systemwide sales growth, additional refranchising activity, disciplined capital expenditures, lower net leverage, and positive free cash flow generation,” said Krispy Kreme CEO Josh Charlesworth.

Interestingly, the stock is up 35.5% since reporting and currently trades at $4.05.

Is now the time to buy Krispy Kreme? Access our full analysis of the earnings results here, it’s free.

Yum China (NYSE: YUMC)

One of China’s largest restaurant companies, Yum China (NYSE: YUMC) is an independent entity spun off from Yum! Brands in 2016.

Yum China reported revenues of $2.82 billion, up 8.8% year on year, outperforming analysts’ expectations by 3.9%. The business had an exceptional quarter with a solid beat of analysts’ revenue estimates and an impressive beat of analysts’ same-store sales estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 4.5% since reporting. It currently trades at $48.46.

Is now the time to buy Yum China? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Jack in the Box (NASDAQ: JACK)

Delighting customers since its inception in 1951, Jack in the Box (NASDAQ: JACK) is a distinctive fast-food chain known for its bold flavors, innovative menu items, and quirky marketing.

Jack in the Box reported revenues of $349.5 million, down 5.8% year on year, falling short of analysts’ expectations by 4.8%. It was a softer quarter as it posted a significant miss of analysts’ revenue estimates and a miss of analysts’ same-store sales estimates.

Jack in the Box delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 36.9% since the results and currently trades at $13.89.

Read our full analysis of Jack in the Box’s results here.

Wendy's (NASDAQ: WEN)

Founded by Dave Thomas in 1969, Wendy’s (NASDAQ: WEN) is a renowned fast-food chain known for its fresh, never-frozen beef burgers, flavorful menu options, and commitment to quality.

Wendy's reported revenues of $543 million, down 5.5% year on year. This number surpassed analysts’ expectations by 1.3%. However, it was a slower quarter as it logged full-year EBITDA guidance missing analysts’ expectations significantly and a miss of analysts’ same-store sales estimates.

The stock is down 2.3% since reporting and currently trades at $7.11.

Read our full, actionable report on Wendy's here, it’s free.

McDonald's (NYSE: MCD)

With nicknames spanning Mickey D's in the U.S. to Makku in Japan, McDonald’s (NYSE: MCD) is a fast-food behemoth known for its convenience and broken ice cream machines.

McDonald's reported revenues of $7.01 billion, up 9.7% year on year. This result topped analysts’ expectations by 2.6%. It was a very strong quarter as it also logged an impressive beat of analysts’ same-store sales estimates and a solid beat of analysts’ revenue estimates.

The stock is down 7% since reporting and currently trades at $300.59.

Read our full, actionable report on McDonald's here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

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