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.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.85M | - | $22.63M | $20.42M | $21.92M | - | $21.51M | $20.12M | $20.11M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $7.87M | - | $7.05M | $6.59M | $7.43M | - | $5.92M | $6.24M | $6.82M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $95.2K | - | - | - | $97.2K | - | - | - | $104.0K | - |
| Operating Income | $12.36M | - | $14.92M | $13.06M | $13.60M | - | $14.93M | $13.02M | $12.22M | - |
| Interest Expense | $613.9K | - | $610.3K | $609.8K | $613.9K | - | $704.1K | $779.1K | $737.7K | - |
| Income Tax | $2.61M | - | $3.49M | $2.10M | $3.18M | - | $3.49M | $2.15M | $2.85M | - |
| Net Income | $9.25M | - | $11.14M | $10.60M | $9.96M | - | $11.12M | $10.43M | $8.82M | - |
| EPS - Basic | $2.59 | - | $3.13 | $3.00 | $2.81 | - | $3.16 | $2.97 | $2.52 | - |
| EPS - Diluted | $2.50 | - | $3.02 | $2.89 | $2.71 | - | $3.03 | $2.85 | $2.41 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $19.83M | $10.30M | $39.73M | $28.77M | $21.83M | $12.19M | $37.20M | $29.40M | $22.87M | $13.36M |
| Accounts Receivable | $2.00M | $1.48M | $1.65M | $1.71M | $2.59M | $1.34M | $1.60M | $1.61M | $1.69M | $1.48M |
| Inventory | $421.4K | $362.5K | $283.7K | $362.1K | $338.2K | $397.6K | $441.8K | $268.2K | $420.9K | $386.1K |
| Accounts Payable | $1.06M | $1.67M | $1.37M | $1.19M | $1.54M | $1.56M | $1.60M | $1.48M | $1.30M | $1.72M |
| Current Assets | $25.05M | $14.10M | $43.06M | $32.20M | $25.77M | $15.37M | $40.50M | $32.95M | $26.28M | $16.75M |
| Total Assets | $35.60M | $24.88M | $53.75M | $43.17M | $37.06M | $26.84M | $51.95M | $44.69M | $38.34M | $28.97M |
| Current Liabilities | $9.13M | $5.67M | $7.23M | $7.01M | $9.69M | $5.09M | $10.55M | $11.45M | $14.37M | $10.46M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | ($46.21M) | ($53.68M) | ($26.34M) | ($36.84M) | ($45.94M) | ($51.05M) | ($33.74M) | ($42.22M) | ($52.58M) | ($59.16M) |
| Retained Earnings | ($67.47M) | ($73.30M) | ($44.13M) | ($51.86M) | ($59.07M) | ($65.84M) | ($45.69M) | ($53.64M) | ($60.90M) | ($66.92M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $11.88M | - | - | - | $15.08M | - | - | - | $13.36M | - |
| Investing Cash Flow | ($14.6K) | - | - | - | ($51.2K) | - | - | - | ($87.9K) | - |
| Financing Cash Flow | ($2.40M) | - | - | - | ($5.39M) | - | - | - | ($3.79M) | - |
| CapEx | $14.6K | - | - | - | $51.2K | - | - | - | $87.9K | - |
| Free Cash Flow | $11.86M | - | - | - | $15.03M | - | - | - | $13.28M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 59.3% | - | 65.9% | 64.0% | 62.0% | - | 69.4% | 64.7% | 60.8% | - |
| EBITDA margin | 59.7% | - | - | - | 62.5% | - | - | - | 61.3% | - |
| Net margin | 44.4% | - | 49.2% | 51.9% | 45.4% | - | 51.7% | 51.8% | 43.9% | - |
| Free cash flow margin | 56.9% | - | - | - | 68.6% | - | - | - | 66.0% | - |
| FCF / Net income | 1.28 | - | - | - | 1.51 | - | - | - | 1.51 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 37.7% | - | 31.1% | 32.3% | 33.9% | - | 27.5% | 31.0% | 33.9% | - |
| Effective tax rate | 22.0% | - | 23.8% | 16.6% | 24.2% | - | 23.9% | 17.1% | 24.4% | - |
| Return on assets | 26.0% | - | 20.7% | 24.6% | 26.9% | - | 21.4% | 23.3% | 23.0% | - |
| Return on equity | -20.0% | - | -42.3% | -28.8% | -21.7% | - | -33.0% | -24.7% | -16.8% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 2.74 | 2.49 | 5.95 | 4.60 | 2.66 | 3.02 | 3.84 | 2.88 | 1.83 | 1.60 |
| Quick ratio | 2.70 | 2.42 | 5.92 | 4.54 | 2.62 | 2.94 | 3.80 | 2.85 | 1.80 | 1.56 |
| Cash ratio | 2.17 | 1.82 | 5.49 | 4.11 | 2.25 | 2.40 | 3.53 | 2.57 | 1.59 | 1.28 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 20.1x | - | 24.5x | 21.4x | 22.1x | - | 21.2x | 16.7x | 16.6x | - |
| Equity multiplier | -0.77 | -0.46 | -2.04 | -1.17 | -0.81 | -0.53 | -1.54 | -1.06 | -0.73 | -0.49 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.59 | - | 0.42 | 0.47 | 0.59 | - | 0.41 | 0.45 | 0.52 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 35d | - | 27d | 31d | 43d | - | 27d | 29d | 31d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 167.0x | - | 166.4x | 129.7x | 116.2x | - | 127.1x | 123.7x | 150.1x | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | 74.3x | - | 82.0x | 67.5x | 52.8x | - | 65.7x | 64.1x | 65.9x | - |
| EV / EBITDA | 122.7x | - | - | - | 82.9x | - | - | - | 105.6x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -4.9% | - | 5.2% | 1.5% | 9.0% | - | -3.6% | -1.2% | -2.0% | - |
| Revenue CAGR (3y) | 0.5% | - | 2.3% | 2.3% | 3.0% | - | 2.2% | 1.9% | 2.5% | - |
| Revenue CAGR (5y) | 2.2% | - | 4.4% | 10.5% | 3.3% | - | 1.8% | 2.9% | 1.9% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -9.1% | - | -0.0% | 0.3% | 11.3% | - | -1.3% | -1.8% | -1.4% | - |
| Net income growth (YoY) | -7.0% | - | 0.1% | 1.6% | 12.9% | - | -0.3% | 0.6% | -1.4% | - |
| EPS growth (YoY) | -7.7% | - | -0.3% | 1.4% | 12.4% | - | -0.7% | 0.0% | -3.2% | - |
| EPS CAGR (3y) | 0.1% | - | 1.0% | 4.4% | 0.7% | - | 4.3% | 6.9% | 0.1% | - |
| EPS CAGR (5y) | 0.8% | - | 4.4% | 16.8% | 7.7% | - | 6.2% | 9.7% | 6.9% | - |
| FCF growth (YoY) | -21.1% | - | - | - | 13.2% | - | - | - | -4.1% | - |
| FCF CAGR (5y) | -2.6% | - | - | - | 1.0% | - | - | - | -1.1% | - |
| Book value growth (YoY) | -0.6% | -5.2% | 21.9% | 12.8% | 12.6% | 13.7% | 2.4% | 3.2% | 2.7% | 4.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-27.
Business segments
$83.42M totalFranchising$83.42M · 100.0%
Product / service
$85.72M totalRoyalty$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 totalCA$7.80M · 100.0%
Peer comparison
Same SIC group: Retail-Miscellaneous Retail
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 |