Winmark Corp

Consumer Discretionary
Other Specialty Stores
www.winmarkcorporation.com

Earnings Score

Market Cap $1.48B
Debt -
Cash $21.97M
EV -
FCF $43.71M

Earnings

loading chart...

Sales & Net Margins

loading chart...

Earnings	$41.09M
EBIT	$54.31M
ROA	147%
FCF	$43.71M
Equity	-$45.94M
Growth Stability	100%
PE	36
PEG	5.74
PB	-32.2
P/FCF	33.84
P/S	17.8
Price/Cash	0.01
Net Margins	45%
Op. Margins	65%
Earnings CAGR	8%
Sales Growth YoY	9%
Sales Growth QoQ	12%
Sales CAGR	3%
FCF CAGR	8%
Earnings Stability	0.89
Earnings Growth YoY	13%

Earnings Growth QoQ	4%
Earnings CAGR 5Y	6%
Sales CAGR 5Y	5%
FCF CAGR 5Y	-2%
Earnings CAGR 3Y	1%
Sales CAGR 3Y	1%
FCF CAGR 3Y	-4%
Market Cap	$1.48B
Revenue	$83.10M
Dividend Yield	3%
Payout Ratio	96%
Assets	$37.06M
Cash	$21.97M
Shares Outstanding	3.53M
Earnings Score	93%
Working Capital	16.08M
Current Ratio	2.66
Shares Growth 3y	1%
Equity Growth QoQ	-10%
Equity Growth YoY	-13%

Assets & ROA

loading chart...

Stockholders Equity & ROE

loading chart...

Winmark Corp is a franchisor of value-oriented retail store concepts that buy, sell and trade gently used the merchandise. The company's reportable segments include Franchising and Leasing. The franchising segment franchises value-oriented retail store that buys, sells, trade and consign merchandise as well as provide strategic consulting services relating to franchising. The leasing segment includes middle-market equipment leasing business and small-ticket financing business. It generates a majority of its revenue from the Franchising segment.

SEC Filings

Direct access to Winmark Corp (WINA) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 29
2024
- 10-K Dec 28
- 10-Q Sep 28
- 10-Q Jun 29
- 10-Q Mar 30
2023
- 10-K Dec 30
- 10-Q Sep 30
- 10-Q Jul 01
- 10-Q Apr 01

Sector Comparison

How does Winmark Corp compare to its competitors?

Loading chart...

Peter Lynch's Chart

This chart shows the current pricing of Winmark Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 8%

Stability 89%

loading chart...

Winmark Corp Discounted Cash Flow

Fully customizable DCF calculator online for Winmark Corp.

Years

Calculation mode

= $741M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$44M	$47M	$51M	$55M	$59M	$63M	$68M	$73M	$79M	$85M	$91M	$913M
DCF		$43M	$42M	$41M	$40M	$39M	$38M	$38M	$37M	$36M	$35M	$352M
Value	$741M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	31%	33%	35%	42%	44%	45%	51%	48%	48%	49%	45%
ROA	-	79%	80%	90%	70%	128%	191%	176%	184%	197%	147%
ROE	-	-282%	-80%	-627%	258%	-262%	-102%	-64%	-68%	-78%	-

Good Net Margins (45.42%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	0.08	0.17	0.17	0.58	0.61	1.08	0.1	0.1	-	-
Debt over Equity	-0.06	-0.25	-0.14	-1.24	2.36	-2.3	-1.33	-0.07	-0.07	-	-
Growth Stability	-	-	-	100%	100%	100%	100%	100%	100%	100%	100%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (100%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-4%	5%	4%	1%	-10%	18%	4%	2%	-2%	5%
Earnings YoY growth	-	2%	11%	23%	7%	-7%	34%	-1%	2%	-1%	6%
Equity YoY growth	-	-74%	291%	-84%	-359%	-191%	243%	58%	-4%	-14%	-
FCF YoY growth	-	18%	-4%	37%	47%	-14%	12%	-10%	-0%	-4%	-2%