Winmark Corp. (WINA)
NASDAQ:WINA
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Winmark
(NASDAQ:WINA)
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Rating:62Neutral
Price Target:
$430.00
▲(10.41% Upside)
Action:ReiteratedDate:04/23/26
The score is driven primarily by strong profitability and free cash flow, but it is held back by a structurally weak balance sheet (negative equity) and bearish technical trend signals. Valuation is also a headwind due to a high P/E, partly cushioned by the dividend and generally positive recent corporate updates.
Positive Factors
Free cash flow & cash generation
Sustained FCF (~$41.5M TTM) with operating cash covering debt ~7.9x shows durable cash generation. High FCF conversion supports dividends, reinvestment in POS/marketing, and debt servicing, providing long-term financial resilience even if growth stalls.
Negative Factors
Weak balance sheet: negative equity & sizable debt
Persistent negative equity distorts leverage metrics and signals cumulative deficits or buyback/capital actions that reduce cushion. With ~ $62M debt, capital raising, covenant negotiation, and shock absorption capacity are constrained, raising structural financial risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Free cash flow & cash generation
Sustained FCF (~$41.5M TTM) with operating cash covering debt ~7.9x shows durable cash generation. High FCF conversion supports dividends, reinvestment in POS/marketing, and debt servicing, providing long-term financial resilience even if growth stalls.
Read all positive factors
Winmark (WINA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.43B
Dividend Yield3.35%
Average Volume (3M)84.55K
Price to Earnings (P/E)40.3
Beta (1Y)0.52
Revenue Growth2.27%
EPS Growth-1.23%
CountryUS
Employees89
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)2.50
Shares Outstanding3,577,671
10 Day Avg. Volume91,703
30 Day Avg. Volume84,548
Financial Highlights & Ratios
PEG Ratio10.73
Price to Book (P/B)-27.13
Price to Sales (P/S)16.92
P/FCF Ratio32.57
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue16.72
Enterprise Value/Gross Profit17.30
Enterprise Value/Ebitda26.36
Forecast
1Y Price Target
$545.00Price Target Upside39.94% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)12.11
Revenue Forecast (FY)$89.05M
Winmark Business Overview & Revenue Model
Company Description
Winmark Corporation, together with its subsidiaries, operates as a franchisor of retail store concepts that buy, sell, trade, and consign used merchandise primarily in the United States and Canada. The company operates through two segments, Franch...
How the Company Makes Money
Winmark primarily makes money through franchising economics tied to its portfolio of resale retail brands. Its key revenue streams include: (1) ongoing royalties from franchisees, generally based on a percentage of franchisee retail sales; (2) ini...
Winmark Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
28
Negative
Cash Flow
86
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 84.99M | 86.06M | 81.29M | 83.24M | 81.41M | 78.22M |
| Gross Profit | 82.15M | 82.95M | 77.87M | 78.38M | 76.71M | 73.43M |
| EBITDA | 53.91M | 56.68M | 55.20M | 55.52M | 54.57M | 52.01M |
| Net Income | 40.95M | 41.65M | 39.95M | 40.18M | 39.42M | 39.92M |
Balance Sheet | ||||||
| Total Assets | 35.07M | 24.88M | 26.84M | 28.97M | 30.46M | 26.90M |
| Cash, Cash Equivalents and Short-Term Investments | 19.83M | 10.46M | 12.19M | 13.44M | 13.96M | 14.30M |
| Total Debt | 62.20M | 64.79M | 63.04M | 72.78M | 77.57M | 52.42M |
| Total Liabilities | 81.28M | 78.57M | 77.89M | 88.12M | 92.09M | 65.98M |
| Stockholders Equity | -46.21M | -53.68M | -51.05M | -59.16M | -61.63M | -39.08M |
Cash Flow | ||||||
| Free Cash Flow | 41.54M | 44.70M | 41.96M | 43.61M | 40.11M | 48.06M |
| Operating Cash Flow | 41.70M | 44.90M | 42.16M | 43.99M | 43.79M | 48.35M |
| Investing Cash Flow | -155.70K | -192.30K | -194.90K | -383.90K | -3.67M | -283.10K |
| Financing Cash Flow | -43.58M | -46.57M | -43.02M | -43.90M | -37.88M | -43.31M |
Winmark Technical Analysis
Negative
389.45
Price Trends
436.57
Negative
432.35
Negative
426.18
Negative
Market Momentum
-10.35
Positive
37.94
Neutral
19.75
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WINA, the sentiment is Negative. The current price of 389.45 is below the 20-day moving average (MA) of 420.09, below the 50-day MA of 436.57, and below the 200-day MA of 426.18, indicating a bearish trend. The MACD of -10.35 indicates Positive momentum. The RSI at 37.94 is Neutral, neither overbought nor oversold. The STOCH value of 19.75 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for WINA.
Winmark Risk Analysis
Winmark disclosed 15 risk factors in its most recent earnings report. Winmark reported the most risks in the "Ability to Sell" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Winmark Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $1.08B | 31.00 | 14.46% | ― | 14.78% | 22.89% | |
62 Neutral | $1.43B | 40.31 | -100.45% | 3.35% | 2.27% | -1.23% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $1.05B | 41.12 | 8.68% | ― | 29.17% | ― | |
60 Neutral | $1.35B | 16.40 | 5.37% | ― | 9.19% | -19.28% | |
53 Neutral | $543.06M | -38.47 | -34.47% | ― | 3.73% | 75.76% | |
50 Neutral | $371.77M | 11.58 | -3.56% | ― | 10.09% | 99.49% |
* Consumer Cyclical Sector Average
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Winmark Corporate Events
Executive/Board ChangesShareholder Meetings
Winmark Shareholders Approve Board, Pay, and Auditor Slate
Positive
Apr 22, 2026
At its annual shareholders meeting held on April 22, 2026, Winmark Corporation’s investors approved setting the board size at seven directors and elected all nominated directors, including Brett D. Heffes and six other candidates, with subst...
Business Operations and StrategyDividendsFinancial Disclosures
Winmark Posts Lower Q1 Earnings, Declares Quarterly Dividend
Neutral
Apr 15, 2026
On April 15, 2026, Winmark Corporation reported first-quarter 2026 net income of $9.25 million, or $2.50 per diluted share, down from $9.96 million, or $2.71 per diluted share, a year earlier, when results benefited from $2.2 million of litigation...
Business Operations and Strategy
Winmark Introduces New Fees for Plato’s Closet Franchisees
Neutral
Mar 16, 2026
On March 16, 2026, Winmark Corporation told its franchisees it will introduce a monthly software fee and a North American advertising fund for Plato’s Closet stores, moves that will increase both company revenues and related expenses. Beginn...
Business Operations and StrategyFinancial Disclosures
Winmark Posts Higher 2025 Earnings and Revenue Growth
Positive
Feb 18, 2026
On February 18, 2026, Winmark reported that for the fiscal year ended December 27, 2025, net income rose to $41.7 million, or $11.30 per diluted share, from $40.0 million, or $10.89 per diluted share, in 2024, while annual revenue increased to $86...
Business Operations and StrategyDividendsFinancial Disclosures
Winmark Declares Quarterly Dividend, Highlights Strong Franchise Sales
Positive
Jan 28, 2026
On January 28, 2026, Winmark Corporation announced that its board had approved a quarterly cash dividend of $0.96 per share, payable on March 2, 2026 to shareholders of record as of the close of business on February 11, 2026, reinforcing the compa...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.