WINA · Winmark Corp - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · WINA

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$86.06M	$81.29M	$83.24M	$81.41M	$78.22M	$66.06M
Cost of Revenue	$3.10M	$3.38M	$4.46M	$3.71M	$2.94M	$2.10M
Gross Profit	$82.95M	$77.91M	$78.78M	$77.70M	$75.28M	$63.96M
R&D	-	-	-	-	-	-
SG&A	$28.36M	$24.94M	$25.11M	$23.16M	$22.30M	$21.20M
Total Operating Expenses	-	-	-	-	-	-
D&A	$746.7K	$799.3K	$772.7K	$603.1K	$430.6K	$484.7K
Operating Income	$54.59M	$52.93M	$53.28M	$53.61M	$51.34M	$40.21M
Interest Expense	$2.45M	$2.91M	$3.09M	$2.91M	$1.45M	$1.74M
Income Tax	$11.48M	$11.27M	$11.18M	$11.36M	$9.95M	$8.69M
Net Income	$41.65M	$39.95M	$40.18M	$39.42M	$39.92M	$29.82M
EPS - Basic	$11.73	$11.36	$11.55	$11.30	$10.87	$8.02
EPS - Diluted	$11.30	$10.89	$11.04	$10.97	$10.48	$7.72

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$10.30M	$12.19M	$13.36M	$13.62M	$11.41M	$6.66M
Accounts Receivable	$1.48M	$1.34M	$1.48M	$1.44M	$1.10M	$1.58M
Inventory	$362.5K	$397.6K	$386.1K	$770.6K	$325.2K	$106.6K
Accounts Payable	$1.67M	$1.56M	$1.72M	$2.12M	$2.10M	$1.77M
Current Assets	$14.10M	$15.37M	$16.75M	$18.10M	$17.43M	$18.28M
Total Assets	$24.88M	$26.84M	$28.97M	$30.46M	$26.90M	$31.34M
Current Liabilities	$5.67M	$5.09M	$10.46M	$10.60M	$9.98M	$11.38M
Long-term Debt	-	-	-	-	$47.69M	$21.94M
Total Liabilities	-	-	-	-	-	-
Stockholders' Equity	($53.68M)	($51.05M)	($59.16M)	($61.63M)	($39.08M)	($11.38M)
Retained Earnings	($73.30M)	($65.84M)	($66.92M)	($63.44M)	($39.08M)	($20.66M)

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$44.90M	$42.16M	$43.99M	$43.79M	$48.35M	$43.22M
Investing Cash Flow	($192.3K)	($194.9K)	($383.9K)	($3.67M)	($283.1K)	($4.16M)
Financing Cash Flow	($46.57M)	($43.02M)	($43.90M)	($37.88M)	($43.31M)	($57.56M)
CapEx	$192.3K	$194.9K	$383.9K	$139.1K	$74.7K	$45.1K
Free Cash Flow	$44.70M	$41.96M	$43.61M	$43.65M	$48.27M	$43.18M

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	96.4%	95.8%	94.6%	95.4%	96.2%	96.8%
Operating margin	63.4%	65.1%	64.0%	65.9%	65.6%	60.9%
EBITDA margin	64.3%	66.1%	64.9%	66.6%	66.2%	61.6%
Net margin	48.4%	49.2%	48.3%	48.4%	51.0%	45.1%
Free cash flow margin	51.9%	51.6%	52.4%	53.6%	61.7%	65.4%
FCF / Net income	1.07	1.05	1.09	1.11	1.21	1.45
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	33.0%	30.7%	30.2%	28.4%	28.5%	32.1%
Effective tax rate	21.6%	22.0%	21.8%	22.4%	19.9%	22.6%
Return on assets	167.4%	148.8%	138.7%	129.4%	148.4%	95.2%
Return on equity	-77.6%	-78.3%	-67.9%	-64.0%	-102.1%	-262.1%
Return on invested capital	-	-	-	-	477.6%	294.9%
Liquidity
Current ratio	2.49	3.02	1.60	1.71	1.75	1.61
Quick ratio	2.42	2.94	1.56	1.64	1.71	1.60
Cash ratio	1.82	2.40	1.28	1.29	1.14	0.58
Leverage
Debt / Equity	-	-	-	-	-1.22	-1.93
Debt / Assets	-	-	-	-	1.77	0.70
Debt / EBITDA	-	-	-	-	0.92	0.54
Interest coverage	22.3x	18.2x	17.2x	18.4x	35.3x	23.1x
Equity multiplier	-0.46	-0.53	-0.49	-0.49	-0.69	-2.75
Liabilities / Assets	-	-	-	-	-	-
Efficiency
Asset turnover	3.46	3.03	2.87	2.67	2.91	2.11
Inventory turnover	8.56	8.50	11.56	4.82	9.04	19.74
Days sales outstanding	6d	6d	6d	6d	5d	9d
Days inventory outstanding	43d	43d	32d	76d	40d	18d
Days payable outstanding	197d	169d	141d	209d	261d	307d
Cash conversion cycle	-148d	-120d	-103d	-126d	-215d	-280d
Valuation
P / E	35.8x	36.1x	37.8x	21.5x	23.7x	23.8x
P / B	-	-	-	-	-	-
P / S	17.3x	17.7x	18.3x	10.4x	12.1x	10.8x
EV / EBITDA	26.8x	26.6x	27.9x	15.4x	19.0x	17.8x
Growth
Revenue growth (YoY)	5.9%	-2.3%	2.3%	4.1%	18.4%	-9.9%
Revenue CAGR (3y)	1.9%	1.3%	8.0%	3.6%	2.6%	-1.8%
Revenue CAGR (5y)	5.4%	2.1%	2.8%	3.1%	3.3%	-1.0%
Gross profit growth (YoY)	6.5%	-1.1%	1.4%	3.2%	17.7%	-9.7%
Operating income growth (YoY)	3.1%	-0.7%	-0.6%	4.4%	27.7%	-6.8%
Net income growth (YoY)	4.3%	-0.6%	1.9%	-1.2%	33.9%	-7.2%
EPS growth (YoY)	3.8%	-1.4%	0.6%	4.7%	35.8%	-1.5%
EPS CAGR (3y)	1.0%	1.3%	12.7%	11.8%	13.0%	10.9%
EPS CAGR (5y)	7.9%	6.8%	8.7%	14.2%	15.4%	10.5%
FCF growth (YoY)	6.5%	-3.8%	-0.1%	-9.6%	11.8%	-14.5%
FCF CAGR (5y)	0.7%	-3.6%	5.0%	10.8%	13.5%	14.3%
Book value growth (YoY)	-5.2%	13.7%	4.0%	-57.7%	-243.5%	-

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-27.

Business segments

$83.42M total

Franchising$83.42M · 100.0%

Product / service

$85.72M total

Royalty$76.35M · 89.1%

Product$3.28M · 3.8%

Product And Service Other$2.26M · 2.6%

Marketing Fees$1.90M · 2.2%

Franchise$1.53M · 1.8%

Software License Fees$400.0K · 0.5%

Geographic

$7.80M total

CA$7.80M · 100.0%

Stability scores

Piotroski F-score

FY 2025 · 9-point quality

7/9

Strong

✓Net income positive
✓Operating cash flow positive
✓ROA improved YoY
✓Cash flow > net income
-Long-term debt decreased
✗Current ratio improved
✓No share dilution
✓Gross margin improved
✓Asset turnover improved

Peer comparison

Same SIC group: Retail-Miscellaneous Retail

Company	Revenue (last FY)	Net margin	ROE
REAL	$692.85M	-6.0%	10.1%
FCFS	$3.66B	9.0%	14.5%
SPH	$1.43B	7.4%	-
SVV	$1.68B	1.3%	5.2%
EZPW	$1.27B	8.6%	10.7%

Comparing WINMARK CORP against the 5 most active filers in the same SIC group.

Dividends

$13.90/share trailing 12 months · +24.6% YoY

Ex-date	Per share
May 13, 2026	$1.0200
Feb 11, 2026	$0.9600
Nov 12, 2025	$10.9600
Aug 13, 2025	$0.9600
May 14, 2025	$0.9600
Feb 12, 2025	$0.9000
Nov 13, 2024	$8.4000
Aug 14, 2024	$0.9000
May 14, 2024	$0.9000
Feb 13, 2024	$0.8000
Nov 14, 2023	$10.2000
Aug 15, 2023	$0.8000
May 16, 2023	$0.8000
Feb 7, 2023	$0.7000
Nov 8, 2022	$3.7000
Aug 9, 2022	$0.7000
May 10, 2022	$0.7000
Feb 8, 2022	$0.4500
Nov 9, 2021	$7.9500
Aug 10, 2021	$0.4500
May 11, 2021	$0.4500
Feb 9, 2021	$0.2500
Nov 9, 2020	$3.2500
Aug 11, 2020	$0.2500