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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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $86M | $57M | $42M | $45M | -77.6% | 5.9% | 4.3% |
| 2024 | $81M | $55M | $40M | $42M | -78.3% | -2.3% | -0.6% |
| 2023 | $83M | $56M | $40M | $44M | -67.9% | 2.3% | 1.9% |
| 2022 | $81M | $55M | $39M | $40M | -64.0% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 81.41 | 83.24 | 81.29 | 86.06 |
| Operating Revenue | - | 79.58 | 81.27 | 79.16 | 83.79 |
| Cost Of Revenue | - | 4.70 | 4.86 | 3.42 | 3.10 |
| Gross Profit | - | 76.71 | 78.38 | 77.87 | 82.95 |
| Operating Expense | - | 23.10 | 25.10 | 24.94 | 28.36 |
| Selling General And Administration | - | 23.16 | 25.11 | 24.94 | 28.36 |
| Total Expenses | - | 27.80 | 29.96 | 28.36 | 31.46 |
| Operating Income | - | 53.61 | 53.28 | 52.93 | 54.59 |
| Total Operating Income As Reported | - | 53.61 | 53.28 | 52.93 | 54.59 |
| EBITDA | - | 54.57 | 55.52 | 55.20 | 56.68 |
| Normalized EBITDA | - | 54.57 | 55.52 | 55.20 | 56.68 |
| EBIT | - | 53.70 | 54.45 | 54.08 | 55.58 |
| Interest Income | - | 0.09 | 1.17 | 1.15 | 0.99 |
| Interest Expense | - | 2.91 | 3.09 | 2.86 | 2.45 |
| Net Interest Income | - | -2.83 | -1.92 | -1.71 | -1.46 |
| Interest Income Non Operating | - | 0.09 | 1.17 | 1.15 | 0.99 |
| Interest Expense Non Operating | - | 2.91 | 3.09 | 2.86 | 2.45 |
| Net Non Operating Interest Income Expense | - | -2.83 | -1.92 | -1.71 | -1.46 |
| Pretax Income | - | 50.78 | 51.36 | 51.22 | 53.14 |
| Tax Provision | - | 11.36 | 11.18 | 11.27 | 11.48 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 39.42 | 40.18 | 39.95 | 41.65 |
| Net Income From Continuing And Discontinued Operation | - | 39.42 | 40.18 | 39.95 | 41.65 |
| Net Income From Continuing Operation Net Minority Interest | - | 39.42 | 40.18 | 39.95 | 41.65 |
| Net Income | - | 39.42 | 40.18 | 39.95 | 41.65 |
| Net Income Common Stockholders | - | 39.42 | 40.18 | 39.95 | 41.65 |
| Net Income Including Noncontrolling Interests | - | 39.42 | 40.18 | 39.95 | 41.65 |
| Normalized Income | - | 39.42 | 40.18 | 39.95 | 41.65 |
| Diluted NI Availto Com Stockholders | - | 39.42 | 40.18 | 39.95 | 41.65 |
| Basic Average Shares | - | 3.49 | 3.48 | 3.52 | 3.55 |
| Diluted Average Shares | - | 3.59 | 3.64 | 3.67 | 3.69 |
| Reconciled Depreciation | - | 0.87 | 1.06 | 1.12 | 1.09 |
| Reconciled Cost Of Revenue | - | 4.70 | 4.86 | 3.42 | 3.10 |
| Provision For Doubtful Accounts | - | -0.06 | -0.01 | 0 | 0 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Winmark Corporationthis co. | WINA | $1.4B | 32.66↑ premium | - | -77.6% | 24.92 |
| Carter's, Inc. | CRI | $1.4B | 15.31 | 1.52 | 9.9% | 10.48 |
| Leggett & Platt, Incorporated | LEG | $1.4B | 5.91 | 1.36 | 23.0% | 5.07 |
| Tripadvisor, Inc. | TRIP | $1.4B | 34.76 | 2.16 | 6.2% | 8.02 |
| Revolve Group, Inc. | RVLV | $1.4B | 22.41 |
| - |
| - |
| - |
| - |
| - |
| 2.70 |
| 12.0% |
| 13.93 |
| Olaplex Holdings, Inc. | OLPX | $1.4B | -148.20 | 1.56 | -1.1% | 15.77 |
| Hyliion Holdings Corp. | HYLN | $1.4B | -23.76 | 7.08 | -29.8% | -22.68 |
| G-III Apparel Group, Ltd. | GIII | $1.4B | 20.07 | 0.77 | 3.8% | 8.77 |
| Dream Finders Homes, Inc. | DFH | $1.3B | 6.05 | 0.92 | 15.2% | 8.99 |
| Peer Median | - | 10.68 | 1.54 | 8.1% | 8.88 | |