Winmark (WINA) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Winmark

NasdaqGM•Consumer Cyclical•Specialty Retail

$284.71-2.17(-0.01%)Market open

Market Cap

$1.02B

P/E

24.5x

P/S

11.1x

Winmark Corporation, a resale company, operates as a franchisor in the United States and Canada. It is involved in the operation of Plato's Closet, which franchisees buy and sell gently used clothing and accessories for the teenage and young adult market; Once Upon A Child, which franchisees buy and sell gently used and, to a lesser extent, new children's clothing, toys, furniture, equipment, and accessories; and Style Encore, which franchisees buy and sell gently used women's and men's apparel, shoes, and accessories. The company also operates Play It Again Sports, which franchisees buy, sell and trade gently used and new sporting goods, equipment, and accessories for various athletic activities, including team sports, fitness, ski and snowboard, and golf; Music Go Round, which franchisees buy, sell, and trade gently used and, to a lesser extent, new musical instruments, speakers, amplifiers, music-related electronics, and related accessories. In addition, it engages in the operation of a middle-market equipment leasing business under the Winmark Capital brand; and provision of point-of-sale system hardware to its franchisees and certain merchandise to its Play It Again Sports franchisees. The company was formerly known as Grow Biz International, Inc. and changed its name to Winmark Corporation in November 2001. Winmark Corporation was incorporated in 1988 and is headquartered in Minneapolis, Minnesota.

How this company scores

WeakMetricSide Score: 55/100

Grade capped at D — Negative equity — the balance sheet is insolvent. Strongest: Cash & Earnings Quality (18/25); weakest: Profitability (9/25).

Profitability9/25

Growth16/25

Balance Sheet & Red Flags12/25

Cash & Earnings Quality18/25

Strengths

Strong marginsInterest easily coveredCash-backed earningsConsistent free cash flow

Grade capped at D

Negative equity — the balance sheet is insolvent.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 24.5x5y range 17.3x – 43.3x

Currently near its 20-quarter median.

P/S · 11.1x5y range 8.8x – 21.1x

Currently below its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Margin Pressure

Watch

Operating margins declined 6.8% — watch for continued compression, which may signal competitive or cost pressure.

Price & Volume

Market Cap $1.02B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $91.79M
Q. Revenue: $27.89M
TTM EBITDA: $55.53M
TTM Op. Income: $54.80M
Q. Op. Income: $15.79M
TTM Net Income: $41.43M
Q. Net Income: $11.82M
EPS: $3.29
Shares Out.: $3.59M

$91.79M in TTM revenue grew 8.6% YoY, reaching $27.89M last quarter. TTM EBITDA of $55.53M and TTM operating income of $54.80M show growth is flowing through to the bottom line. TTM net income of $41.43M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 96.6%
EBITDA Margin: 57.3%
Op. Margin: 56.6%
Net Margin: 42.4%

Op. margin of 56.6% is down 9.3% YoY — costs are rising relative to revenue. Net margin at 42.4% and gross margin of 96.6% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 14% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 24.5x
P/S Ratio: 11.1x
P/B Ratio: N/A

At 24.5x P/E, the stock trades within typical market levels. P/S of 11.1x and P/B of 0.0x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 43% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $45.03M
Cash: $27.96M
Long-Term Debt: $59.97M
Book Value: $-37.40M
D/E Ratio: N/A
Debt/EBITDA: 3.8

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $12.94M
TTM Free Cash Flow: $43.78M
FCF Margin: 47.7%
FCF / Net Income: 1.1

TTM FCF of $43.78M on $12.94M in operating cash flow. The FCF / Net Income ratio of 1.1x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.