Winmark Corporation WINA R2K

Consumer Cyclical · Specialty Retail · United States

https://www.winmarkcorporation.com

Winmark Corporation, a resale company, operates as a franchisor in the United States and Canada. It is involved in the operation of Plato's Closet, which franchisees buy and sell gently used clothing and accessories for the teenage and young adult market; Once Upon A Child, which franchisees buy and sell gently used and, to a lesser extent, new children's clothing, toys, furniture, equipment, and accessories; and Style Encore, which franchisees buy and sell gently used women's and men's apparel, shoes, and accessories. The company also operates Play It Again Sports, which franchisees buy, sell and trade gently used and new sporting goods, equipment, and accessories for various athletic activities, including team sports, fitness, ski and snowboard, and golf; Music Go Round, which franchisees buy, sell, and trade gently used and, to a lesser extent, new musical instruments, speakers, amplifiers, music-related electronics, and related accessories. In addition, it engages in the operation of a middle-market equipment leasing business under the Winmark Capital brand; and provision of point-of-sale system hardware to its franchisees and certain merchandise to its Play It Again Sports franchisees. The company was formerly known as Grow Biz International, Inc. and changed its name to Winmark Corporation in November 2001. Winmark Corporation was incorporated in 1988 and is headquartered in Minneapolis, Minnesota.

Market & Price

Market Cap

$1.35B

Current Price

$378.57

High / Low (52W)

$502.29 / $351.11

Beta

0.53

Valuation

Stock P/E

34.17

Industry PE

22.37

Forward P/E

31.31

PEG Ratio

1.41

Book Value

$-15.03

Price to Book

-25.19

P/S

15.94

EV/EBITDA

25.83

Dividend Yield

1.08%

Profitability & Returns

ROCE

ROE

ROA

91.80%

Profit Margin

48.19%

Op Margin

59.29%

EPS (Latest Qtr)

$2.50

EPS (TTM)

$11.08

Balance Sheet & Liquidity

Debt/Equity

Quick Ratio

2.39

Current Ratio

2.74

Debt

$62.90M

Total Assets

$24.88M

Current Assets

$14.10M

Working Capital

$8.43M

Ownership

Promoter Holding

16.99%

Chg in Prom Hold

FII / Inst Holding

93.39%

Chg in FII Hold

-0.00%

Financial Snapshot

Enterprise Value

$1.40B

Total Revenue (TTM)

$84.99M

EBITDA

$54.10M

Free Cash Flow

$33.23M

Operating Cash Flow

$41.70M

Shares Outstanding

3.58M

Gross Margin

96.67%

Payout Ratio

34.63%

Growth (CAGR)

Revenue 5Y

1.87%

Profit 5Y

1.85%

Revenue (YoY)

-4.90%

Earnings (YoY)

-7.70%

PROS

Excellent profit margin of 48.2%.
Generates positive free cash flow.

CONS

In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Consumer Cyclical).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	WINA Winmark Corporation R2K	378.57	34.17	$1.35B	1.08%	-	-	1.87%	1.85%
2	AMZN Amazon.com, Inc. NDXSPXAI	270.64	31.65	$2.91T	-	16.60%	24.29%	11.73%	984.47%
3	TSLA Tesla, Inc. NDXSPXAI	435.79	399.81	$1.64T	-	5.29%	4.90%	5.19%	-32.94%
4	HD The Home Depot, Inc. SPX	317.14	22.52	$316.23B	2.94%	28.92%	128.38%	1.52%	-6.11%
5	MCD McDonald's Corporation SPX	279.20	23.04	$198.37B	2.66%	22.63%	-	5.06%	11.50%
6	TJX The TJX Companies, Inc. SPX	154.75	30.11	$171.12B	1.24%	32.91%	61.25%	6.53%	16.24%
7	BKNG Booking Holdings Inc. NDXSPX	167.43	22.09	$129.74B	0.96%	67.24%	-	16.35%	20.90%
8	LOW Lowe's Companies, Inc. SPX	214.36	18.12	$120.26B	2.24%	29.62%	-	-3.85%	1.11%
9	PDD PDD Holdings Inc. NDX	84.44	8.87	$120.19B	-	28.69%	25.40%	49.00%	45.85%

Quarterly Results

Figures in USD.

Metric	Jun 2015	Sep 2015	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Apr 2017	Jul 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Apr 2023	Jul 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	15.48M	16.00M	6.95M	16.18M	16.30M	16.73M	17.37M	17.81M	16.43M	17.73M	17.79M	18.16M	18.16M	19.12M	17.07M	18.33M	17.40M	19.68M	17.88M	18.60M	12.39M	18.28M	18.66M	19.03M	20.15M	20.05M	19.07M	21.16M	20.52M	20.36M	22.32M	20.11M	20.12M	21.51M	-	21.92M	20.42M	22.63M	21.09M	20.85M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	888.30K	766.50K	663.30K	786.30K	618.50K
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	21.03M	19.65M	21.97M	20.30M	20.23M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7.43M	6.59M	7.05M	7.29M	7.87M
Operating Income	8.08M	9.34M	9.69M	8.04M	9.32M	10.44M	10.50M	9.31M	8.81M	10.04M	10.64M	10.07M	10.07M	11.44M	10.18M	10.07M	9.85M	12.27M	10.94M	10.10M	6.68M	12.50M	12.66M	11.98M	13.79M	13.44M	12.36M	14.42M	12.39M	13.25M	15.12M	12.22M	13.02M	14.93M	-	13.60M	13.06M	14.92M	13.01M	12.36M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14.01M	13.59M	15.51M	13.57M	12.75M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	613.90K	609.80K	610.30K	612.90K	613.90K
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13.13M	12.71M	14.62M	12.67M	11.87M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.18M	2.10M	3.49M	2.71M	2.61M
Net Income	-	-	-	-	-	-	-	5.55M	5.53M	5.86M	7.64M	6.96M	7.14M	8.36M	7.66M	7.27M	7.30M	9.11M	8.46M	7.32M	5.06M	9.36M	9.31M	8.94M	10.08M	9.85M	9.03M	10.37M	8.94M	10.37M	11.15M	8.82M	10.43M	11.12M	-	9.96M	10.60M	11.14M	9.96M	9.25M
Diluted EPS	1.00	1.23	1.31	1.06	1.25	1.41	1.41	1.25	1.23	1.36	1.86	1.69	1.73	2.01	1.83	1.73	1.79	2.24	2.08	1.87	1.33	2.43	2.40	2.33	2.67	2.65	2.54	2.93	2.49	2.85	3.05	2.41	2.85	3.03	-	2.71	2.89	3.02	2.69	2.50

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	-	-	-	1.30M	1.30M	81.41M	83.24M	81.29M	86.06M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	4.70M	4.86M	3.42M	3.10M
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	76.71M	78.38M	77.87M	82.95M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	23.10M	25.10M	24.94M	28.36M
Operating Income	18.54M	24.85M	27.30M	29.78M	33.06M	37.09M	38.21M	38.80M	41.76M	43.13M	40.21M	51.34M	53.61M	53.28M	52.93M	54.59M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	54.57M	55.52M	55.20M	56.68M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	2.91M	3.09M	2.86M	2.45M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	50.78M	51.36M	51.22M	53.14M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	11.36M	11.18M	11.27M	11.48M
Net Income	-	-	-	-	-	-	22.15M	24.58M	30.13M	32.15M	29.82M	39.92M	39.42M	40.18M	39.95M	41.65M
Diluted EPS	1.98	2.69	2.47	3.48	3.85	4.69	5.11	5.66	7.26	7.84	7.72	10.48	10.97	11.04	10.89	11.30

Compounded Sales Growth

5 Years:	1.87%
1 Year:	-4.90%

Compounded Profit Growth

5 Years:	1.85%
1 Year:	-7.70%

Stock Price Performance

1 Year:	-7.90%
6 Months:	-9.60%
3 Months:	-16.79%
1 Month:	+1.29%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	42.12M	47.75M	43.54M	53.04M	54.73M	47.41M	48.58M	48.84M	46.66M	61.84M	31.34M	-	30.46M	28.97M	26.84M	24.88M
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	18.10M	16.75M	15.37M	14.10M
Cash & Equivalents	9.49M	2.26M	9.02M	2.23M	10.64M	2.09M	1.01M	1.25M	1.07M	2.50M	25.13M	6.66M	-	13.62M	13.36M	12.19M	10.30M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	770.60K	386.10K	397.60K	362.50K
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	145.00K	189.60K	71.10K	101.10K
Total Liabilities	-	-	-	-	-	-	-	-	-	-	-	-	-	92.09M	88.12M	77.89M	78.57M
Current Liabilities	-	15.28M	7.78M	20.51M	10.51M	24.58M	7.51M	7.36M	9.43M	12.48M	11.93M	11.38M	-	10.60M	10.46M	5.09M	5.67M
Long Term Debt	-	-	-	-	-	-	-	-	-	-	25.69M	21.94M	-	69.07M	64.85M	59.94M	59.96M
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	77.57M	72.78M	63.04M	62.38M
Total Equity	15.33M	23.01M	35.11M	17.93M	38.14M	21.61M	-30.67M	-12.90M	-35.71M	-4.81M	12.45M	-11.38M	-	-61.63M	-59.16M	-51.05M	-53.68M
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	3.46M	3.50M	3.54M	3.57M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	-	-	-	-	-	22.33M	26.28M	25.21M	34.94M	50.65M	43.22M	-	43.79M	43.99M	42.16M	44.90M
Investing Cash Flow	-	-	-	-	-	4.50M	-3.22M	85.20K	453.90K	-9.18M	-4.16M	-	-3.67M	-383.90K	-194.90K	-192.30K
Financing Cash Flow	-	-	-	-	-	-27.91M	-22.79M	-25.42M	-33.98M	-18.86M	-57.56M	-	-37.88M	-43.90M	-43.02M	-46.57M
Capital Expenditure	-408.60K	-168.00K	-188.30K	-396.40K	-452.40K	-133.90K	-68.60K	-72.60K	-693.50K	-169.40K	-45.10K	-	-3.68M	-383.90K	-194.90K	-192.30K
Free Cash Flow	-	-	-	-	-	22.19M	26.21M	25.14M	34.24M	50.48M	43.18M	-	40.11M	43.61M	41.96M	44.70M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	2.24M	-294.10K	-1.06M	-1.87M
Share Buybacks	4.00M	3.53M	7.22M	1.85M	11.56M	74.85M	1.57M	49.90M	1.85M	24.03M	48.99M	44.22M	49.12M	-	-	2.42M
Dividends Paid	301.20K	547.60K	26.12M	964.30K	26.93M	1.23M	1.53M	1.76M	2.17M	3.45M	14.23M	33.16M	19.26M	43.66M	38.87M	49.11M

Ratios (Annual)

Figures in %.

Metric	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	-	-	-	94.2%	94.2%	95.8%	96.4%
Operating Margin %	-	-	-	-	-	-	-	-	-	-	3,093.2%	3,948.9%	65.9%	64.0%	65.1%	63.4%
Net Margin %	-	-	-	-	-	-	-	-	-	-	2,294.1%	3,070.8%	48.4%	48.3%	49.2%	48.4%
ROE %	-	-	-	-	-	-	-171.7%	-68.8%	-626.5%	258.3%	-262.1%	-	-64.0%	-67.9%	-78.3%	-77.6%
ROCE %	69.1%	62.2%	118.6%	70.0%	109.7%	93.0%	92.7%	98.5%	122.2%	86.4%	201.5%	-	270.0%	287.9%	243.3%	284.1%

Shareholding Pattern

Insiders

16.99%

Institutions

93.39%

Public Float

112.51%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	13.04%	466.38K	$176.56M
2	Neuberger Berman Group, LLC	7.96%	284.68K	$107.77M
3	Renaissance Technologies, LLC	5.75%	205.88K	$77.94M
4	AltraVue Capital, LLC	4.52%	161.86K	$61.28M
5	First Trust Advisors LP	4.20%	150.37K	$56.93M
6	Vanguard Capital Management LLC	3.85%	137.82K	$52.18M
7	State Street Corporation	3.46%	123.64K	$46.81M
8	Port Capital LLC	2.74%	98.19K	$37.17M
9	Jacobs Levy Equity Management, Inc.	2.70%	96.42K	$36.50M
10	Fisher Asset Management, LLC	2.67%	95.37K	$36.10M

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WINA · Consumer Cyclical