WINA Financials Winmark Corp

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Oct 17, 2026, 11:07 UTC Overview →

Growth & profitability

Revenue has grown 5.4% per year over the past 5 years.
Net income has grown faster than revenue (6.9% vs 5.4% per year).
Operating margin has expanded, at 63.4% in the latest year.
Free cash flow has grown 0.7% per year over the past 5 years.

Financial health

Total debt has grown faster than revenue (36.3% vs 5.4% per year).
Operating income covered interest expense 22× in the latest year.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 117.9% of earnings and 109.9% of free cash flow.
The dividend has grown 28.1% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$86M	$42M	96.4%	63.4%	-77.6%	167.4%	$45M	—	$10M
2024	$81M	$40M	95.8%	65.1%	-78.3%	148.8%	$42M	—	$12M
2023	$83M	$40M	94.6%	64.0%	-67.9%	138.7%	$44M	—	$13M
2022	$81M	$39M	95.4%	65.9%	-64.0%	129.4%	$44M	—	$14M
2021	$78M	$40M	96.2%	65.6%	-102.1%	148.4%	$48M	$48M	$11M
2020	$66M	$30M	96.8%	60.9%	-262.1%	95.2%	$43M	$22M	$7M
2019	$73M	$32M	96.6%	58.8%	258.3%	52.0%	$50M	$26M	$25M
2018	$73M	$30M	96.2%	57.6%	-626.5%	64.6%	$34M	—	$2M
2017	$70M	$25M	96.5%	55.6%	-68.8%	50.3%	$25M	—	$1M
2016	$67M	$22M	96.8%	57.4%	-171.7%	45.6%	$26M	—	$1M
2015	$69M	—	0.0%	53.4%	0.0%	0.0%	$22M	—	$1M
2014	$61M	—	0.0%	54.0%	0.0%	0.0%	—	—	$2M
2013	$56M	—	0.0%	53.4%	0.0%	0.0%	—	—	$11M
2012	$52M	—	0.0%	52.6%	0.0%	0.0%	—	—	$2M
2011	$51M	—	0.0%	48.4%	0.0%	0.0%	—	—	$9M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$28M	$12M	0.0%	56.6%	-31.6%	26.2%	$13M	—	$28M
Jun '26	$22M	$10M	0.0%	62.1%	-27.6%	24.1%	$11M	—	$26M
Mar '26	$21M	$9M	0.0%	59.3%	-20.0%	26.0%	$12M	—	$20M
Dec '25	$21M	$10M	0.0%	61.7%	-18.6%	40.0%	$9M	—	$10M
Sep '25	$23M	$11M	0.0%	65.9%	-42.3%	20.7%	$12M	—	$40M
Jun '25	$20M	$11M	0.0%	64.0%	-28.8%	24.6%	$9M	—	$29M
Mar '25	$22M	$10M	0.0%	62.0%	-21.7%	26.9%	$15M	—	$22M
Dec '24	$20M	$10M	0.0%	65.3%	-18.8%	35.7%	$8M	—	$12M
Sep '24	$22M	$11M	0.0%	69.4%	-33.0%	21.4%	$12M	—	$37M
Jun '24	$20M	$10M	0.0%	64.7%	-24.7%	23.3%	$8M	—	$29M
Mar '24	$20M	$9M	0.0%	60.8%	-16.8%	23.0%	$13M	—	$23M
Dec '23	$20M	$10M	0.0%	62.5%	-16.4%	33.5%	$9M	—	$13M
Sep '23	$22M	$11M	0.0%	67.8%	-32.3%	20.1%	$12M	—	$41M
Jul '23	$20M	$10M	0.0%	65.1%	-23.8%	21.8%	$9M	—	$32M
Apr '23	$21M	$9M	0.0%	60.4%	-16.5%	22.5%	$14M	—	$25M
Dec '22	$21M	$10M	0.0%	63.4%	-16.5%	33.4%	$10M	—	$14M
Sep '22	$21M	$10M	0.0%	68.1%	-17.2%	30.7%	$12M	—	$17M
Jun '22	$19M	$9M	0.0%	64.8%	-13.1%	33.4%	$9M	—	$9M
Mar '22	$20M	$10M	0.0%	67.0%	-15.0%	64.5%	$13M	—	$287500
Dec '21	$20M	$12M	0.0%	63.4%	-29.7%	43.1%	$13M	$48M	$11M

Valuation over time

How the market has priced WINA against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 28.9× (Mar '23) to 24.1× (Nov '26).
The price-to-sales ratio has fallen from 14.0× (Mar '23) to 11.7× (Nov '26).
The dividend yield has risen from 1.7% (Mar '23) to 4.9% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is WINA growing its revenue and profit?

Over the past 5 years, Winmark Corp's revenue has grown 5.4% per year, and net income grown 6.9% per year. These are computed facts, not advice.

How much debt does WINA have?

As of FY2025, Winmark Corp reported — of total debt against $10M of cash; operating income covered interest expense 22×.

What is WINA's profit margin?

In FY2025, gross margin was 96.4%, operating margin 63.4%, and net margin 48.4%.

What is WINA's P/E ratio?

Winmark Corp's P/E (TTM) is 24.27 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the WINA stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 24.1× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.