A Business at a Glance
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WINMARK CORP
WINA
$1.2B
Mkt Cap
$332.52
-0.94%
WINMARK CORP (WINA) has a current P/E ratio of 29.4, compared to its historical median P/E of 20.9. The stock is currently considered Expensive based on its historical valuation range.
WINMARK CORP (WINA) has a 5-year average return on invested capital (ROIC) of 149.7%. This indicates strong capital allocation and a potential competitive advantage.
WINMARK CORP (WINA) has a market capitalization of $1.2B. It is classified as a small-cap stock.
Yes, WINMARK CORP (WINA) pays a dividend with a trailing twelve-month yield of 4.15%. The company also returns capital through share buybacks, with a buyback yield of 0.20%.
Based on historical P/E analysis, WINMARK CORP (WINA) appears expensive. The current P/E of 29.4 is 41% above its historical median of 20.9. The estimated fair value CAGR (P/E method) is 7.5%.
WINMARK CORP (WINA) operates in the Retail-Miscellaneous Retail industry, within the Consumer Cyclical sector.
WINMARK CORP (WINA) reported annual revenue of $86 million in its most recent fiscal year, based on SEC EDGAR filings.
Winmark – the Resale Company® (Winmark Corporation, Winmark or the Company), is a nationally recognized franchisor focused on sustainability and small business formation. We champion and guide entrepreneurs interested in operating one of our award winning resale franchises: Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. At December 27, 2025, there were 1,378 franchises in operation in the United States and Canada and over 2,800 available territories. Our mission is to provide Resale for Everyone®. Each of our resale brands emphasizes consumer value by offering high-quality used merchandise at substantial savings from the price of new merchandise and by purchasing customers’ used goods that have been outgrown or are no longer used. Our concepts also offer a limited amount of new merchandise to customers.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 85M | 86M | 81M | 83M | 81M | 78M |
| Net Income | 41M | 42M | 40M | 40M | 39M | 40M |
| EPS | $11.49 | $11.30 | $10.89 | $11.04 | $10.97 | $10.48 |
| Free Cash Flow | 42M | 45M | 42M | 44M | 44M | 48M |
| ROIC | 118.3% | 165.5% | 147.9% | 140.3% | 145.1% | 2874.4% |
| Gross Margin | - | 96.4% | 95.8% | 94.6% | 95.4% | 96.2% |
| Debt/Equity | 0.00 | -1.12 | -1.18 | -0.58 | -1.04 | -1.33 |
| Dividends/Share | $13.80 | $13.32 | $10.59 | $12.00 | $5.36 | $8.71 |
| Operating Income | 53M | 55M | 53M | 53M | 54M | 51M |
| Operating Margin | 62.8% | 63.4% | 65.1% | 64.0% | 65.9% | 65.6% |
| ROE | 0.0% | -79.5% | -72.5% | -66.5% | -78.3% | -158.2% |
| Shares Outstanding | 4M | 4M | 4M | 4M | 4M | 4M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 61M | 69M | 67M | 70M | 73M | 73M | 66M | 78M | 81M | 83M | 81M | 86M | 85M |
| Gross Margin | 95.7% | 96.2% | 96.8% | 96.5% | 96.2% | 96.6% | 96.8% | 96.2% | 95.4% | 94.6% | 95.8% | 96.4% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 24M | 24M | 24M | 25M | 26M | 26M | 21M | 22M | 23M | 25M | 25M | 28M | 29M |
| EBIT | 33M | 37M | 38M | 39M | 42M | 43M | 40M | 51M | 54M | 53M | 53M | 55M | 53M |
| Op. Margin | 54.0% | 53.4% | 57.4% | 55.6% | 57.6% | 58.8% | 60.9% | 65.6% | 65.9% | 64.0% | 65.1% | 63.4% | 62.8% |
| Net Income | 20M | 22M | 22M | 25M | 30M | 32M | 30M | 40M | 39M | 40M | 40M | 42M | 41M |
| Net Margin | 32.8% | 31.4% | 33.4% | 35.2% | 41.5% | 43.9% | 45.1% | 51.0% | 48.4% | 48.3% | 49.2% | 48.4% | 48.2% |
| Non-Recurring | 67K | 0 | 0 | 0 | 0 | -2K | 0 | 0 | 9K | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 84.8% | 61.3% | 52.6% | 72.8% | 68.6% | 199.7% | N/M | N/M | 145.1% | 140.3% | 147.9% | 165.5% | 118.3% |
| ROE | 67.2% | -481.0% | -102.0% | -101.1% | -148.7% | 258.3% | N/A | -158.2% | -78.3% | -66.5% | -72.5% | -79.5% | 0.0% |
| ROA | 37.2% | 42.7% | 46.3% | 50.4% | 63.1% | 59.3% | 64.0% | 137.1% | 137.5% | 135.2% | 143.2% | 161.0% | 115.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 18M | 22M | 26M | 25M | 35M | 51M | 43M | 48M | 44M | 44M | 42M | 45M | 42M |
| Free Cash Flow | -10M | 0 | -3K | -268K | 11M | 41M | 39M | 48M | 44M | 44M | 42M | 45M | 42M |
| Owner Earnings | 16M | 20M | 24M | 23M | 33M | 49M | 41M | 46M | 42M | 41M | 39M | 42M | 39M |
| CapEx | 28M | 22M | 26M | 25M | 24M | 9.2M | 4.2M | 283K | 139K | 384K | 195K | 192K | 156K |
| Maint. CapEx | 412K | 433K | 421K | 355K | 314K | 400K | 485K | 431K | 603K | 773K | 799K | 747K | 745K |
| Growth CapEx | 28M | 22M | 26M | 25M | 23M | 8.8M | 3.7M | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 412K | 433K | 421K | 355K | 314K | 400K | 485K | 431K | 603K | 773K | 799K | 747K | 745K |
| CapEx/OCF | 155.7% | 100.1% | 100.1% | 101.1% | 68.1% | 18.1% | 9.6% | 0.6% | 0.3% | 0.9% | 0.5% | 0.4% | 0.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 27M | 1.2M | 1.5M | 1.8M | 2.2M | 3.4M | 14M | 33M | 19M | 44M | 39M | 49M | 49M |
| Dividend Yield | 8.4% | 0.3% | 0.4% | 0.4% | 0.4% | 0.6% | 2.6% | 4.9% | 2.7% | 3.7% | 3.0% | 3.4% | 4.1% |
| Share Buybacks | 12M | 75M | 1.6M | 50M | 1.8M | 24M | 49M | 44M | 49M | 0 | 0 | 2.4M | 2.4M |
| Buyback Yield | 3.2% | 21.5% | 0.4% | 10.6% | 0.3% | 3.6% | 7.9% | 5.3% | 6.4% | N/A | N/A | 0.2% | 0.2% |
| Stock-Based Comp | 1.4M | 1.7M | 1.8M | 2.0M | 2.0M | 1.7M | 1.3M | 1.4M | 1.7M | 2.0M | 2.0M | 2.3M | 2.4M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -1.8M | 86M | 48M | 73M | 3.5M | 4.3M | 20M | 41M | 51M | 21M | 48M | 50M | 40M |
| Cash & Equiv. | 2.1M | 1.0M | 1.3M | 1.1M | 2.5M | 25M | 6.7M | 11M | 14M | 13M | 12M | 10M | 20M |
| Long-Term Debt | 26K | 42M | 23M | 35M | 2.7M | 26M | 22M | 48M | 30M | 30M | 30M | 30M | 30M |
| Debt/Equity | 0.01 | -2.83 | -3.78 | -2.07 | -1.24 | 2.36 | -2.30 | -1.33 | -1.04 | -0.58 | -1.18 | -1.12 | 0.00 |
| Interest Coverage | 68.2 | 20.6 | 16.3 | 16.4 | 17.1 | 24.9 | 23.1 | 35.3 | 18.4 | 17.2 | 18.5 | 22.3 | 21.8 |
| Equity | 22M | -31M | -13M | -36M | -4.8M | 12M | -11M | -39M | -62M | -59M | -51M | -54M | -46M |
| Total Assets | 55M | 47M | 49M | 49M | 47M | 62M | 31M | 27M | 30M | 29M | 27M | 25M | 36M |
| Total Liabilities | 33M | 8.5M | 9.0M | 85M | 51M | 49M | 43M | 66M | 92M | 88M | 78M | 79M | 2.0M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.3M | 3.0M | 2.6M | 2.3M | 2.2M |
| Retained Earnings | 21M | -31M | -11M | -37M | -9.2M | 519K | -21M | -39M | -63M | -67M | -66M | -73M | -67M |
| Working Capital | 3.9M | 17M | 15M | 12M | 12M | 29M | 6.9M | 7.5M | 7.5M | 6.3M | 10M | 8.4M | 16M |
| Current Assets | 28M | 24M | 23M | 21M | 24M | 41M | 18M | 17M | 18M | 17M | 15M | 14M | 25M |
| Current Liabilities | 25M | 7.5M | 7.4M | 9.4M | 12M | 12M | 11M | 10.0M | 11M | 10M | 5.1M | 5.7M | 9.1M |
| Per Share Data | |||||||||||||
| EPS | 3.85 | 4.69 | 5.11 | 5.66 | 7.26 | 7.84 | 7.72 | 10.48 | 10.97 | 11.04 | 10.89 | 11.30 | 11.49 |
| Owner EPS | 3.10 | 4.35 | 5.54 | 5.28 | 7.87 | 11.85 | 10.72 | 12.20 | 11.56 | 11.34 | 10.73 | 11.36 | 10.79 |
| Book Value | 4.15 | -6.60 | -2.97 | -8.23 | -1.16 | 3.04 | -2.95 | -10.26 | -17.15 | -16.25 | -13.91 | -14.56 | -12.92 |
| Cash Flow/Share | 3.45 | 4.80 | 6.04 | 5.81 | 8.42 | 12.35 | 11.19 | 12.69 | 12.18 | 12.09 | 11.49 | 12.18 | 11.65 |
| Dividends/Share | 5.17 | 0.27 | 0.37 | 0.43 | 0.56 | 0.90 | 3.68 | 8.71 | 5.36 | 12.00 | 10.59 | 13.32 | 13.80 |
| Shares Out. | 5.2M | 4.6M | 4.3M | 4.3M | 4.1M | 4.1M | 3.9M | 3.8M | 3.6M | 3.6M | 3.7M | 3.7M | 3.6M |
| Valuation | |||||||||||||
| P/E Ratio | 17.9 | 15.9 | 20.1 | 19.2 | 18.3 | 21.0 | 20.8 | 21.1 | 19.5 | 35.9 | 35.1 | 36.2 | 28.9 |
| P/FCF | N/A | N/A | N/A | N/A | 49.4 | 16.3 | 15.9 | 17.5 | 17.6 | 33.1 | 33.5 | 33.8 | 28.6 |
| EV/EBIT | 11.3 | 10.6 | 12.3 | 12.3 | 13.3 | 14.7 | 15.3 | 16.9 | 14.6 | 27.3 | 27.2 | 28.4 | 23.0 |
| Price/Book | 16.6 | N/A | N/A | N/A | N/A | 54.3 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | 5.3 | 5.2 | 5.5 | 6.5 | 6.8 | 8.1 | 8.3 | 8.7 | 8.8 | 14.0 | 15.9 | 16.7 | 14.0 |
| FCF Yield | -2.8% | -0.0% | -0.0% | -0.1% | 2.0% | 6.1% | 6.3% | 5.7% | 5.7% | 3.0% | 3.0% | 3.0% | 3.5% |
| Market Cap | 359M | 348M | 447M | 472M | 550M | 675M | 620M | 841M | 770M | 1.4B | 1.4B | 1.5B | 1.2B |
| Avg. Price | 61.65 | 76.97 | 84.12 | 104.68 | 119.64 | 144.72 | 141.78 | 177.99 | 198.91 | 321.08 | 352.45 | 390.09 | 332.52 |
| Year-End Price | 68.82 | 74.77 | 103.31 | 108.69 | 132.66 | 164.69 | 160.53 | 220.73 | 214.18 | 396.50 | 382.66 | 409.32 | 332.52 |
WINMARK CORP passes 6 of 9 quality checks, suggesting mixed fundamentals.
WINMARK CORP trades at 29.4x trailing earnings, compared to its 15-year median P/E of 20.9x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 26.6x vs a median of 25.4x. The company's 5-year average ROIC is 149.7% with a gross margin of 95.7%. Total shareholder yield (dividends + buybacks) is 4.4%. At current prices, the estimated annualized return to fair value is +12.0%.
WINMARK CORP (WINA) has a net profit margin of 48.4%. This is a strong margin indicating high profitability.
WINMARK CORP (WINA) generated $45 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
WINMARK CORP (WINA) reported earnings per share (EPS) of $11.30 in its most recent fiscal year.
WINMARK CORP (WINA) has a return on equity (ROE) of -79.5%. A negative ROE may indicate losses or negative equity.
WINMARK CORP (WINA) has a 5-year average gross margin of 95.7%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for WINMARK CORP (WINA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
WINMARK CORP (WINA) has a book value per share of $-14.56, based on its most recent annual SEC filing.
No recent press releases.