WINMARK CORP WINA
Winmark – the Resale Company® (Winmark Corporation, Winmark or the Company), is a nationally recognized franchisor focused on sustainability and small business formation. We champion and guide entrepreneurs interested in operating one of our award winning resale franchises: Plato's Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. At December 27, 2025, there were 1,378 franchises in operation in the United States and Canada and over 2,800 available territories. Our mission is to provide Resale for Everyone®.
Each of our resale brands emphasizes consumer value by offering high-quality used merchandise at substantial savings from the price of new merchandise and by purchasing customers' used goods that have been outgrown or are no longer used. Our concepts also offer a limited amount of new merchandise to customers. For over 35 years, we have offered a sustainable solution for consumers to recycle their gently used clothing, toys, sporting goods and musical instruments. We estimate that, since 2010, stores in our resale brands have extended the lives of over 2.1 billion items. We continue to enhance our franchise model and provide our franchisees with the technology, tools and training to profitably expand their operations and evolve towards being a multi-channel retailer.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $86.1M | $81.3M | $83.2M | $81.4M | $78.2M | $1.3M | $73.3M | $72.5M | $69.8M | $66.5M |
| Cost of revenue | $3.1M | $3.4M | $4.5M | $3.7M | $2.9M | $2.1M | $2.5M | $2.7M | $2.4M | $2.1M |
| Gross profit | $83.0M | $77.9M | $78.8M | $77.7M | $75.3M | -$803.9K | $70.8M | $69.8M | $67.3M | $64.4M |
| SG&A | $28.4M | $24.9M | $25.1M | $23.2M | $22.3M | $21.2M | $25.7M | $26.0M | $25.2M | $23.9M |
| Operating income | $54.6M | $52.9M | $53.3M | $53.6M | $51.3M | $40.2M | $43.1M | $41.8M | $38.8M | $38.2M |
| Interest expense | $2.4M | $2.9M | $3.1M | $2.9M | $1.5M | $1.7M | $1.7M | $2.4M | $2.4M | $2.3M |
| Pre-tax income | $53.1M | $51.2M | $51.4M | $50.8M | $49.9M | $38.5M | $41.5M | $39.3M | $36.5M | $35.9M |
| Income tax | $11.5M | $11.3M | $11.2M | $11.4M | $9.9M | $8.7M | $9.3M | $9.2M | $11.9M | $13.7M |
| Net income | $41.7M | $40.0M | $40.2M | $39.4M | $39.9M | $29.8M | $32.1M | $30.1M | $24.6M | $22.1M |
| EPS, basic | 11.73 | 11.36 | 11.55 | 11.30 | 10.87 | 8.02 | 8.37 | 7.77 | 6.06 | 5.37 |
| EPS, diluted | 11.30 | 10.89 | 11.04 | 10.97 | 10.48 | 7.72 | 7.84 | 7.26 | 5.66 | 5.11 |
| Shares, diluted (wtd. avg.) | 3.7M | 3.7M | 3.6M | 3.6M | 3.8M | 3.9M | 4.1M | 4.1M | 4.3M | 4.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $10.3M | $12.2M | $13.4M | $13.7M | $11.4M | $6.7M | $25.2M | $2.6M | $1.2M | $1.3M |
| Receivables | $1.5M | $1.3M | $1.5M | $1.4M | $1.1M | $1.6M | $1.7M | $1.6M | $9.8K | $12.2K |
| Inventory | $362.5K | $397.6K | $386.1K | $770.6K | $325.2K | $106.6K | $86.0K | $107.6K | $97.1K | $87.5K |
| Total current assets | $14.1M | $15.4M | $16.7M | $18.1M | $17.4M | $18.3M | $41.2M | $24.3M | $21.5M | $22.8M |
| Property, plant and equipment | $1.2M | $1.4M | $1.7M | $1.7M | $2.0M | $2.3M | $2.8M | $866.2K | $486.8K | $769.6K |
| Goodwill | $607.5K | $607.5K | $607.5K | $607.5K | $607.5K | $607.5K | $607.5K | $607.5K | $607.5K | $607.5K |
| Other intangibles | $2.3M | $2.6M | $3.0M | $3.3M | — | — | — | — | — | — |
| Total assets | $24.9M | $26.8M | $29.0M | $30.5M | $26.9M | $31.3M | $61.8M | $46.7M | $48.8M | $48.6M |
| Accounts payable | $1.7M | $1.6M | $1.7M | $2.1M | $2.1M | $1.8M | $1.0M | $1.4M | $2.1M | $1.7M |
| Total current liabilities | $5.7M | $5.1M | $10.5M | $10.6M | $10.0M | $11.4M | $11.9M | $12.5M | $9.4M | $7.4M |
| Long-term debt | — | — | — | — | $47.7M | $21.9M | $25.7M | — | — | — |
| Retained earnings | -$73.3M | -$65.8M | -$66.9M | -$63.4M | -$39.1M | -$20.7M | $519.0K | -$9.2M | -$37.2M | -$10.8M |
| Total equity | -$53.7M | -$51.0M | -$59.2M | -$61.6M | -$39.1M | -$11.4M | $12.4M | -$4.8M | -$35.7M | -$12.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $44.9M | $42.2M | $44.0M | $43.8M | $48.3M | $43.2M | $50.6M | $34.9M | $25.2M | $26.3M |
| Depreciation and amortisation | $746.7K | $799.3K | $772.7K | $603.1K | $430.6K | $484.7K | $400.1K | $314.1K | $355.4K | $420.5K |
| Stock-based compensation | $2.3M | $2.0M | $2.0M | $1.7M | $1.4M | $1.3M | $1.7M | $2.0M | $2.0M | $1.8M |
| Capital expenditure | $192.3K | $194.9K | $383.9K | $139.1K | $74.7K | $45.1K | $169.4K | $693.5K | $72.6K | $68.6K |
| Investing cash flow | -$192.3K | -$194.9K | -$383.9K | -$3.7M | -$283.1K | -$4.2M | -$9.2M | $453.9K | $85.2K | -$3.2M |
| Financing cash flow | -$46.6M | -$43.0M | -$43.9M | -$37.9M | -$43.3M | -$57.6M | -$18.9M | -$34.0M | -$25.4M | -$22.8M |
| Dividends paid | $49.1M | $38.9M | $43.7M | $19.3M | $33.2M | $14.2M | $3.4M | $2.2M | $1.8M | $1.5M |
| Buybacks | $2.4M | — | — | $49.1M | $44.2M | $49.0M | $24.0M | $1.8M | $49.9M | $1.6M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000908315-26-000007.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $66.5M | $69.8M | $72.5M | $73.3M | $1.3M | $78.2M | $81.4M | $83.2M | $81.3M | $86.1M |
| Gross profit | $64.4M | $67.3M | $69.8M | $70.8M | -$803.9K | $75.3M | $77.7M | $78.8M | $77.9M | $83.0M |
| Net income | $22.1M | $24.6M | $30.1M | $32.1M | $29.8M | $39.9M | $39.4M | $40.2M | $40.0M | $41.7M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Other event Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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