Mister Car Wash
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Mister Car Wash (MCW) investor relations material

Mister Car Wash Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary18 Feb, 2026

Executive summary

  • Net revenues surpassed $1 billion for the first time, increasing 6% year-over-year to $1,051.7 million for 2025.

  • Unlimited Wash Club memberships grew 7% year-over-year, ending with nearly 2.3 million members.

  • Opened 29 new greenfield locations and acquired additional sites, increasing total operated locations by 7% to 548.

Financial highlights

  • Fourth quarter net revenues rose 4% year-over-year to $261.2 million; comparable-store sales up 1.6%.

  • Full-year net income was $103.1 million, with adjusted net income of $145.0 million.

  • Adjusted EBITDA for 2025 increased 8% to $345.4 million.

  • Free cash flow improved to $30.3 million from $(81.5) million year-over-year; free cash flow excluding growth capex was $257.2 million.

  • Cash and cash equivalents at year-end were $28.5 million, down from $67.5 million the prior year.

Segment performance

  • Unlimited Wash Club sales accounted for 79% of total wash sales in Q4, up from 75% a year earlier.

  • Opened 16 new greenfield locations and acquired five in Q4, with 548 total locations at year-end.

Impact of sale-leasebacks on rent expense?
How does UWC sales mix impact revenue stability?
Quantify impact of adjusted net income definition change
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Q1 202629 Apr, 2026
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Frequently asked questions

Mister Car Wash Inc is a car wash services company that operates a network of conveyorized car wash locations across the United States. The company provides exterior and interior cleaning services, subscription-based membership plans, and automotive detailing. It also sells branded cleaning products and accessories. Mister Car Wash Inc is headquartered in Tucson, Arizona, and its shares are listed on the NYSE.

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