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Winmark Corp (WINA) stock

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NASDAQ: WINA Nasdaq Specialized Consumer Services Next results ~January 13, 2027

B+ Fundamentals grade

Winmark Corp is a US-listed company in the specialized consumer services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$340

Cash-flow model

Base case. Range ~$250–$440 across our lower- and higher-growth cases (0.7%–10.7% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 16% below our base value.

Price used: $283.16, November 2, 2026

Winmark Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 3 selling0 purchases and 6 sales by directors and officers, last 12 monthsInsider trades
  • Funds112 adding, 105 cuttingOf 34 active managers that changed their stake, 16 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Winmark files

Where Winmark stands after its latest 10-Q

Revenue for the twelve months to September 2026 was $92m, up 8.6% on a year earlier, faster than the 3.8% growth a quarter earlier. Free-cash-flow margin fell to 47.7% from 52.8% a year earlier. Operating margin narrowed to 59.7% from 64.3%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B+. It passes 3 of our 4 financial-health checks. Our cash-flow model value is $258 a share, against a share price of $290. At that price, our model says the market is pricing in about 7.8% a year of cash-flow growth for five years, faster than the 3.3% a year revenue growth it has delivered.

Source: 10-Q filed October 14, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 13, 2027 (estimated)

Winmark Corp's trailing-twelve-month revenue grew 8.6% year on year, with a free-cash-flow margin of 47.7%. Where it stands out: change in growth rate of +4.8pp ranks 1 of 18 specialized consumer services companies we cover. Where it lags: long-term debt as % of assets of 66.6% ranks 15 of 15 specialized consumer services companies we cover.

Our discounted-cash-flow model values the business at ~$340 per share in the base case (~$250–$440 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 8.6% (+4.8pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 4.8 points higher than a quarter earlier.
  • High operating margin. 59.7% of revenue is left as operating profit, against a median of 4.3% for specialized consumer services companies we cover.
  • Strong cash generation. 47.7% of revenue turned into free cash flow, against a median of 8.3% for specialized consumer services companies we cover.

Things to watch

  • Margins narrowing. Operating margin is down 4.6 points on a year ago.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 66.6% ranks 15 of 15 specialized consumer services companies we cover (median 26.1%).
  • Heavily shorted. 13.9% of the shares available to trade are sold short (3.5 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 4 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 10.9% over 90 days.

Latest results: FY2026 Q3

Filed October 14, 2026
Earnings per share
$3.21 against an average estimate of $3.23: missed by 0.6%
Revenue
$28m, up 23.2% on a year earlier
Share reaction
+11.3% in the first session after the results on October 14, 2026, against -0.8% for the S&P 500
Next report
October 14, 2026

Winmark's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.9%
  • 1 week+0.3%
  • 1 month-4.9%
  • This year-29.5%
  • 1 year-27.4%
  • 5 years+32.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$91.8M
Operating margin
59.7%
Net margin
45.1%
EPS (TTM, diluted)
$11.20

Growth

Revenue growth
+8.6%
Change in growth rate
+4.8 pts
Share count change
+0.5%

Cash

Free cash flow (TTM)
$43.8M
FCF margin
47.7%
Stock pay % of revenue
2.8%

Earnings

Last results
October 14, 2026
Next results (est.)
January 13, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Winmark Corp valuation models and calculator

What the price is pricing in

The share price implies about 6.6% a year of cash-flow growth for five years.That is close to the 3.3% a year revenue growth Winmark has delivered.

  • Priced in6.6%
  • Last 12 months8.6%
  • 3 years a year2.9%
  • 5 years a year3.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($280.69, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$340
Price used
$280.69close November 3, 2026
Implied change
▲ +20%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Winmark Corp's free cash flow after stock-based pay with after-tax interest added back ($46.3M, FY2026 Q3 TTM), growing 21.7% and 10.9% in the next two years (forecasts, guidance and its record), then back to 5.7% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$250–~$440 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Winmark Corp's free cash flow after stock-based pay ( $46.3M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Winmark Corp as an operating company, with every model that fits that kind of business. Cost of equity 8%: the 10-year Treasury yield (4.9%) plus a beta of 0.67 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$340 ~$250–$440 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$96 ~$120–$180 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$260 ~$96–$340 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Winmark Corp with Specialized Consumer Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +32%
  • Free-cash-flow margin 1 point lower ▼ −2%
  • Last year's free-cash-flow margin change, if it persists ▼ −9%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $187$254$343$460$613$811
8.5% $143$192$256$340$449$589
10% $116$154$203$268$351$457

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$75.52$103.97$107.01$131.92$163.77$157.04$214.20$213.76$390.22$380.52$407.04$283.16
Market value$351m$450m$464m$547m$672m$607m$816m$768m$1.4bn$1.4bn$1.5bn$1.0bn
+ Net debt (− = net cash)$43m$24m$38m$26m$4m$20m$41m$30m$26m$18m$20m$2m
Enterprise value$395m$474m$502m$574m$676m$626m$857m$798m$1.4bn$1.4bn$1.5bn$1.0bn
Multiples
Price / sales 5.1x6.8x6.7x7.5x9.2x9.2x10.4x9.4x17.1x17.2x17.4x11.4x
Price / earnings 16.1x20.3x18.9x18.2x20.9x20.3x20.4x19.5x35.4x34.9x36.0x25.3x
Price / free cash flow 15.8x17.2x18.5x16.0x13.3x14.1x16.9x17.6x32.6x33.3x33.6x23.9x
EV / EBITDA 10.5x12.3x12.8x13.6x15.5x15.4x16.5x14.7x26.8x26.3x27.5x18.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

92 /100

Strong moat

How hard Winmark's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 75.0% of total assets over 10 years.

  • Durability 20 / 20

    Operating margin has been a median 62.1%; its worst year was 55.8%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 52.8% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 3.7% over five years; stock-based pay has been a median 2.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (97 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $11.11 −2% $97m +13%
Next $11.13 +0% $140m +45%

Next year's EPS estimate has moved −10.9% in 90 days, across 1 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −2.3% on 90 days ago. In the last 30 days, 0 analysts raised Winmark Corp's forecast and 1 cut it.

Consensus EPS forecast Winmark Corp, last 90 days
$11.00 $11.50 $12.00 $12.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $11.37 Current fiscal year, 60 days ago: $11.37 Current fiscal year, 30 days ago: $11.37 Current fiscal year, 7 days ago: $11.37 Current fiscal year, Now: $11.11 $11.11 Next fiscal year, 90 days ago: $12.49 Next fiscal year, 60 days ago: $12.49 Next fiscal year, 30 days ago: $12.49 Next fiscal year, 7 days ago: $12.49 Next fiscal year, Now: $11.13 $11.13

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $11.37$12.49
60 days ago $11.37$12.49
30 days ago $11.37$12.49
7 days ago $11.37$12.49
Now $11.11$11.13

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $3.23 $3.21 −0.6%
Jun 2026 $3.14 $2.81 −10.5%
Mar 2026 $2.70 $2.50 −7.4%
Dec 2025 $2.78 $2.69 −3.2%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Winmark Corp's revenue by +21.7% next year and +10.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+40.9%, weight 45%) and the company's own record (+5.7%, weight 55%) . How the weights are set.

Analyst recommendations

1 analysts, Oct 2026
Buy1100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202611
  2. Sep 202611

Counts of recommendations published by analysts covering Winmark Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
13.9%
of tradable shares
Days to cover
3.46
at average volume
Short interest, 1 month
−6%
to October 15, 2026
Held by institutions
95%
of shares
Held by insiders
17.2%
of shares
Employees
87
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −27.4%

$389.95 on October 31, 2025 to $283.16

ThenNowEffect
Revenue (last 12 months) $83m $87m +3.8%
Net margin 49.5% 47.1% −4.8%
P/E multiple 34.7x 25.7x −26.0%
Share count 4m 4m −0.7%

Biggest factor: p/e multiple.

Last 3 years −27.0%

$387.88 on November 3, 2023 to $283.16

ThenNowEffect
Revenue (last 12 months) $83m $87m +4.0%
Net margin 47.9% 47.1% −1.7%
P/E multiple 34.8x 25.7x −26.2%
Share count 4m 4m −3.2%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
WINA+39%−3%+83%−3%+6%−30%
Industry peers (median)+7%−61%−28%+13%−8%−35%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
WINA67%33%75%33%42%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
WINA−13%−24%−13%−20%−24%−42%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 46% from February 14, 2020 to April 1, 2020. Getting back needed a 83% gain, reached on July 15, 2021, 470 days after the low.

Price behaviour

52-week range
$279.71 – $477.99
From 52-week high
−40.8%
vs 50-day average
−6.5%
vs 200-day average
−24.8%
Volatility (1 year)
38%
Beta vs S&P 500
0.49

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±4.5%
After a week
4 up, 8 down
typical move ±4.8%
After a month
4 up, 7 down
typical move ±11.8%
Results releasedNext dayS&P 500 next day5 days21 days
October 14, 2026 +11.3% −0.8% −0.6% —
July 15, 2026 +3.3% −0.1% −6.6% −6.9%
April 15, 2026 −8.5% +1.0% −1.3% −13.0%
February 18, 2026 +1.1% +0.2% −3.9% −11.8%
October 15, 2025 +0.9% −0.2% −1.6% −2.4%
July 15, 2025 +1.7% −0.1% +1.3% +11.5%
April 16, 2025 +5.5% −2.1% +11.2% +30.6%
February 19, 2025 −5.7% −0.2% −9.7% −13.6%
October 16, 2024 +3.8% +0.4% +2.9% +10.6%
July 17, 2024 −5.7% −2.2% −6.5% −11.2%
April 17, 2024 +3.8% −0.8% +5.4% +6.3%
February 21, 2024 −2.1% +2.2% −6.7% −12.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Winmark Corp in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Winmark Corp
$80M $85M $90M $95M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $83.2M Revenue (TTM), FY24 Q1: $82.8M Revenue (TTM), FY24 Q2: $82.6M Revenue (TTM), FY24 Q3: $81.8M Revenue (TTM), FY24 Q4: $81.3M Revenue (TTM), FY25 Q1: $83.1M Revenue (TTM), FY25 Q2: $83.4M Revenue (TTM), FY25 Q3: $84.5M Revenue (TTM), FY25 Q4: $86.1M Revenue (TTM), FY26 Q1: $85M Revenue (TTM), FY26 Q2: $86.5M Revenue (TTM), FY26 Q3: $91.8M $91.8M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $83.2M
FY24 Q1 $82.8M
FY24 Q2 $82.6M
FY24 Q3 $81.8M
FY24 Q4 $81.3M
FY25 Q1 $83.1M
FY25 Q2 $83.4M
FY25 Q3 $84.5M
FY25 Q4 $86.1M
FY26 Q1 $85M
FY26 Q2 $86.5M
FY26 Q3 $91.8M
Revenue growth, TTM YoY Winmark Corp
-5% 0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 2.3% Revenue growth, TTM YoY, FY24 Q1: 1.2% Revenue growth, TTM YoY, FY24 Q2: -0.7% Revenue growth, TTM YoY, FY24 Q3: -3.0% Revenue growth, TTM YoY, FY24 Q4: -2.3% Revenue growth, TTM YoY, FY25 Q1: 0.3% Revenue growth, TTM YoY, FY25 Q2: 1.0% Revenue growth, TTM YoY, FY25 Q3: 3.3% Revenue growth, TTM YoY, FY25 Q4: 5.9% Revenue growth, TTM YoY, FY26 Q1: 2.3% Revenue growth, TTM YoY, FY26 Q2: 3.8% Revenue growth, TTM YoY, FY26 Q3: 8.6% 8.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 2.3%
FY24 Q1 1.2%
FY24 Q2 -0.7%
FY24 Q3 -3.0%
FY24 Q4 -2.3%
FY25 Q1 0.3%
FY25 Q2 1.0%
FY25 Q3 3.3%
FY25 Q4 5.9%
FY26 Q1 2.3%
FY26 Q2 3.8%
FY26 Q3 8.6%
Operating margin (TTM) Winmark Corp
58% 60% 62% 64% 66% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 64.0% Operating margin (TTM), FY24 Q1: 64.1% Operating margin (TTM), FY24 Q2: 64.0% Operating margin (TTM), FY24 Q3: 64.4% Operating margin (TTM), FY24 Q4: 65.1% Operating margin (TTM), FY25 Q1: 65.4% Operating margin (TTM), FY25 Q2: 65.2% Operating margin (TTM), FY25 Q3: 64.3% Operating margin (TTM), FY25 Q4: 63.4% Operating margin (TTM), FY26 Q1: 62.8% Operating margin (TTM), FY26 Q2: 62.3% Operating margin (TTM), FY26 Q3: 59.7% 59.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 64.0%
FY24 Q1 64.1%
FY24 Q2 64.0%
FY24 Q3 64.4%
FY24 Q4 65.1%
FY25 Q1 65.4%
FY25 Q2 65.2%
FY25 Q3 64.3%
FY25 Q4 63.4%
FY26 Q1 62.8%
FY26 Q2 62.3%
FY26 Q3 59.7%
FCF margin (TTM) Winmark Corp
46% 48% 50% 52% 54% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 52.4% FCF margin (TTM), FY24 Q1: 52.0% FCF margin (TTM), FY24 Q2: 50.8% FCF margin (TTM), FY24 Q3: 51.6% FCF margin (TTM), FY24 Q4: 51.6% FCF margin (TTM), FY25 Q1: 52.6% FCF margin (TTM), FY25 Q2: 53.5% FCF margin (TTM), FY25 Q3: 52.8% FCF margin (TTM), FY25 Q4: 51.9% FCF margin (TTM), FY26 Q1: 48.9% FCF margin (TTM), FY26 Q2: 50.0% FCF margin (TTM), FY26 Q3: 47.7% 47.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 52.4%
FY24 Q1 52.0%
FY24 Q2 50.8%
FY24 Q3 51.6%
FY24 Q4 51.6%
FY25 Q1 52.6%
FY25 Q2 53.5%
FY25 Q3 52.8%
FY25 Q4 51.9%
FY26 Q1 48.9%
FY26 Q2 50.0%
FY26 Q3 47.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Winmark took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $86.1M
  2. Cost of revenue $3.1M · 3.6%
  3. Gross profit $83M · 96.4%
  4. Selling, general and admin $28.4M · 33.0%
  5. Operating income $54.6M · 63.4%
  6. Income tax $11.5M · 13.3%
  7. Interest and other $1.5M · 1.7%
  8. Net income $41.7M · 48.4%

Shares of revenue. Source: Winmark's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 41 51 52 56 61 69 67 70 73 73 66 78 81 83 81 86 92
Gross profit — — — — — — 64 67 70 71 64 75 78 79 78 83 —
EBITDA 19 25 28 30 33 38 39 39 42 44 41 52 54 54 54 55 56
Operating income 19 25 27 30 33 37 38 39 42 43 40 51 54 53 53 55 55
Net income 10 14 13 18 20 22 22 25 30 32 30 40 39 40 40 42 41
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 $11.20
Growth (year on year)
Revenue — +24.6% +1.2% +7.3% +9.8% +13.5% −4.2% +4.9% +3.9% +1.1% −9.9% +18.4% +4.1% +2.3% −2.3% +5.9% +8.6%
EBITDA — +33.3% +9.5% +8.9% +10.8% +12.1% +2.9% +1.4% +7.5% +3.5% −6.5% +27.2% +4.7% −0.3% −0.6% +3.0% +0.8%
Operating income — +34.0% +9.9% +9.1% +11.0% +12.2% +3.0% +1.6% +7.6% +3.3% −6.8% +27.7% +4.4% −0.6% −0.7% +3.1% +0.8%
Net income — +36.5% −8.2% +40.9% +10.1% +8.6% +1.6% +11.0% +22.6% +6.7% −7.2% +33.9% −1.2% +1.9% −0.6% +4.3% +0.4%
Diluted EPS — +35.9% −8.2% +40.9% +10.6% +21.8% +9.0% +10.8% +28.3% +8.0% −1.5% +35.8% +4.7% +0.6% −1.4% +3.8% −0.1%
Margins
Gross margin — — — — — — 96.8% 96.5% 96.2% 96.6% 96.8% 96.2% 95.4% 94.6% 95.8% 96.4% —
EBITDA margin 46.1% 49.3% 53.4% 54.2% 54.7% 54.0% 58.1% 56.1% 58.0% 59.4% 61.6% 66.2% 66.6% 64.9% 66.1% 64.3% 60.5%
Operating margin 45.0% 48.4% 52.6% 53.4% 54.0% 53.4% 57.4% 55.6% 57.6% 58.8% 60.9% 65.6% 65.9% 64.0% 65.1% 63.4% 59.7%
Net margin 25.1% 27.5% 24.9% 32.7% 32.8% 31.4% 33.3% 35.2% 41.5% 43.9% 45.1% 51.0% 48.4% 48.3% 49.2% 48.4% 45.1%
Free-cash-flow margin 29.1% 39.8% 34.6% 38.1% 28.7% 32.0% 39.4% 36.0% 47.2% 68.9% 65.4% 61.7% 53.6% 52.4% 51.6% 51.9% 47.7%
Cash flow
Cash from operations 12 21 18 22 18 22 26 25 35 51 43 48 44 44 42 45 44
Capital spending 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0
Free cash flow 12 20 18 21 18 22 26 25 34 50 43 48 44 44 42 45 44
Stock-based pay 1 1 1 1 1 2 2 2 2 2 1 1 2 2 2 2 3
Free cash flow after stock pay 11 20 17 20 16 20 24 23 32 49 42 47 42 42 40 42 41
Balance sheet
Cash 2 9 2 11 2 1 1 1 2 25 7 11 14 13 12 10 28
Total debt 9 0 12 1 19 44 25 39 29 29 26 52 43 39 30 30 30
Net debt (negative = net cash) 7 −9 10 −10 17 43 24 38 26 4 20 41 30 26 18 20 2
Diluted shares 5m 5m 5m 5m 5m 5m 4m 4m 4m 4m 4m 4m 4m 4m 4m 4m 4m
Returned to shareholders
Dividends 0 1 26 1 27 1 2 2 2 3 14 33 19 44 39 49 50
Buybacks 4 4 7 2 12 75 2 50 2 24 49 44 49 — — 2 —
Total returned 4 4 33 3 38 76 3 52 4 27 63 77 68 44 39 52 50

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 4 checks passed · September 26, 2026
What it owns · $45m
Short-term assets $33mLonger-term assets $12m
What it owes, and who funded it · $10m
Short-term liabilities $10mShareholders' equity $-37m
  • Short-term assets cover short-term liabilities $33m of assets due within a year against $10m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $28m of cash against $30m of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $44m of operating cash flow against $30m of debt.
  • Operating profit covers interest at least five times over Operating income of $55m against $2m of interest.

From Winmark Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$2.4M
Dividends (TTM)
$49.9M
Returned to shareholders
115%
of free cash flow
Buybacks, last 3 fiscal years
$95.8M
Diluted share count
+0.5%
year over year
Total shareholder yield
5.2%
dividends 5.0% + buybacks 0.2% of market value
Dividend payout ratio
120%
of net income paid out
Sales & admin spending
32.7%
of revenue
Days sales outstanding
9 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in specialized consumer services
Last 12 months unless stated WINA NXXT ABLV PLBY DLPN BODI Median
Revenue, last 12 months $92m $95m $105m $125m $58m $219m $222m
Revenue growth, last 12 months 8.6% 90.3% −17.0% 4.5% 12.5% −32.5% 5.8%
Revenue growth, 3-year average 2.9% 67.0% — −8.0% 11.2% −28.3% 3.7%
Revenue growth, latest quarter 23.2% 40.9% — 10.9% 2.5% −22.4% 2.8%
Gross margin — 9.0% 11.3% 72.7% 94.8% 73.3% 35.1%
Operating margin 59.7% −50.9% −0.5% 4.3% −2.4% 8.2% 2.2%
Operating margin, 3-year average 62.8% −57.3% — −33.4% −15.7% −10.4% −3.8%
Net margin 45.1% −61.3% 0.8% 0.2% −6.3% 5.7% 1.9%
Cash from operations / revenue 48.0% −13.4% 1.1% 2.4% −7.0% 5.0% 8.7%
Free-cash-flow margin 47.7% −16.0% 1.1% 1.3% −7.0% 3.4% 6.6%
Free-cash-flow margin, 3-year average 50.7% −25.1% — −11.8% −4.3% 0.5% 5.7%
Stock pay / revenue 2.8% 3.5% — 4.8% 0.7% 2.0% 1.9%
Change in share count 0.5% — 16.0% 28.2% 10.1% 7.2% 4.4%

Median of all 18 companies we cover in specialized consumer services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

18 specialized consumer services companies
Measure Company Peer median Rank
Revenue growth Growth 8.6% 6.7% 7 of 18
Change in growth rate Growth +4.8pp -1.2pp 1 of 18
Operating margin Profitability 59.7% 4.3% 1 of 16
Net margin Profitability 45.1% 3.1% 1 of 18
Free-cash-flow margin Cash generation 47.7% 8.3% 2 of 18
Stock pay as % of revenue Cash generation 2.8% 2.0% 10 of 16
Long-term debt as % of assets Balance sheet 66.6% 26.1% 15 of 15
Change in share count Balance sheet 0.5% 7.2% 6 of 15
Days sales outstanding Balance sheet 9 days 19 days 2 of 11

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 27, 2025
Products and services
Line of business Revenue Share YoY
Royalty $76.4M 89.1% ▲ 5.8%
Products $3.3M 3.8% ▼ 8.8%
Other $2.3M 2.6% ▲ 6.1%
Marketing Fees $1.9M 2.2% ▲ 5.6%
Franchise $1.5M 1.8% ▼ 1.3%
Software License Fees $400,000 0.5% 0.0%

From Winmark Corp's 10-K filed February 25, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.4B
Institutions reporting
215
Shares held vs prior quarter
▼ 1.1%
Positions opened / closed
21 / 34

Top buyers and sellers, Q2 2026: 112 institutions bought and 105 sold ; the biggest buyer was First Trust Advisors LP (+25K shares) and the biggest seller Man Group PLC (−37K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $207M 490K 15.2% ▲ 5.0%
Neuberger Berman Group LLC $121M 287K 8.9% ▲ 0.7%
Renaissance Technologies LLC $86.5M 204K 6.4% ▼ 0.7%
First Trust Advisors LP $74.2M 175K 5.5% ▲ 16.7%
Altravue Capital, LLC $72.9M 172K 5.4% ▲ 6.5%
Vanguard Capital Management LLC $59.2M 140K 4.4% ▲ 1.5%
State Street Corp $55.2M 130K 4.1% ▲ 5.4%
Jacobs Levy Equity Management, Inc $39.1M 92K 2.9% ▼ 4.3%
Fisher Asset Management, LLC $39M 92K 2.9% ▼ 3.3%
Port Capital LLC $36.7M 87K 2.7% ▼ 11.6%
Geode Capital Management, LLC $36.4M 86K 2.7% ▲ 5.8%
Nine Ten Capital Management LLC $35.4M 84K 2.6% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Winmark Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $4.2M 6 trades by 3 insiders · 0% under pre-set plans
Net ▼ $4.2M net selling
Insider Date Trade Shares Price Value
Gaudette Renae M. CHIEF OPERATING OFFICER October 22, 2026 Sell 1,245 $282.80 $352,086
Gaudette Renae M. CHIEF OPERATING OFFICER October 22, 2026 Sell 209 $284.06 $59,369
Gaudette Renae M. CHIEF OPERATING OFFICER October 22, 2026 Sell 421 $285.19 $120,065
Grassle Jenele C Director March 4, 2026 Sell 3,900 $475.80 $1.9M
Tomlinson Percy C Jr Director March 3, 2026 Sell 1,660 $460.52 $764,463
Grassle Jenele C Director November 21, 2025 Sell 2,400 $420.87 $1M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Winmark Corp disclosed in the last 12 months; 1 earlier trade on record.

  • Thomas MacArthur(NJ):Purchase, $15,001 - $50,000, traded June 7, 2018, filed July 10, 2018

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 13, 2027 estimated from the company's past filing pattern, not announced

  • October 14, 2026
  • July 15, 2026
  • April 15, 2026
  • February 18, 2026
  • October 15, 2025
  • July 15, 2025

Recent SEC filings

Data status

When each part of this page on Winmark Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Winmark Corp in brief

What does Winmark Corp do?
Winmark Corp is a US-listed company in the specialized consumer services industry. Its financial year ends in December.
What is Winmark Corp's stock ticker?
Winmark Corp trades under the ticker WINA on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Winmark Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Winmark Corp reported revenue of $91.8M, 8.6% higher than a year earlier, according to its SEC filings.
What is Winmark Corp's free cash flow?
Winmark Corp's free-cash-flow margin is 47.7% of revenue over the trailing twelve months, ranking 2 of the 18 specialized consumer services companies we cover.
What is Winmark Corp's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Winmark Corp's free cash flow after stock-based pay gives ~$340 per share in the base case, and ~$250–$440 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Winmark Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Neuberger Berman Group LLC and Renaissance Technologies LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Winmark Corp buying back stock, and does it pay a dividend?
Winmark Corp spent $2.4M on share repurchases over the trailing twelve months, and its diluted share count still rose 0.5% over the year.
What is Winmark Corp's market cap?
On November 2, 2026, Winmark Corp's market capitalisation was about $1B, with a price-to-earnings ratio of 25.3 and net debt of $2M. Market figures come from third-party market data and may be delayed.
Does Winmark Corp pay a dividend?
Yes: Winmark Corp paid $49.9M in dividends over the trailing twelve months, a dividend yield of 4.95% and a payout ratio of 120.4%.
Who are Winmark Corp's competitors?
In our Specialized Consumer Services peer group, the companies closest to Winmark Corp are Nextnrg, Inc., Able View Global Inc., Playboy, Inc., Dolphin Entertainment, Inc. and Beachbody Company, Inc. The side-by-side comparison below sets their revenue, margins and growth against Winmark Corp's.
Are insiders buying or selling Winmark Corp stock?
Over the last 12 months, Winmark Corp's directors and officers reported 0 open-market purchases and 6 sales on Form 4. The insider trading page charts every trade.
When is Winmark Corp's next earnings date?
Around January 13, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Winmark Corp announces its own schedule.