WINA Stock Analysis: Winmark | NASDAQ
Specialty Retail | NASDAQ, USA | Market Cap: 1.059m USD | 12M Return: -42.7% | US9742501029 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 18.0M
EPS Trend: 26.6%
Qual. Beats: -4
Rev. Trend: 61.5%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality
Winmark Corporation (NASDAQ: WINA) is a Minneapolis-based resale company that operates primarily as a franchisor across the United States and Canada. It runs five resale retail brands: Platos Closet (teen and young adult clothing), Once Upon A Child (childrens clothing, toys, and gear), Style Encore (womens and mens apparel), Play It Again Sports (new and used sporting goods), and Music Go Round (musical instruments and related equipment). The company was incorporated in 1988 under the name Grow Biz International and rebranded as Winmark Corporation in November 2001.
In addition to its retail franchise operations, Winmark runs a middle-market equipment leasing business under the Winmark Capital brand, and it supplies point-of-sale hardware to its franchisees along with select merchandise to Play It Again Sports franchisees. The franchise model gives the company an asset-light structure, with revenue largely driven by royalties, franchise fees, and leasing income rather than direct store ownership.
Winmark trades as a small-cap stock (market cap around $1.27 billion) within the Consumer Discretionary sector, classified under Other Specialty Retail. Its business model sits at the intersection of the resale/circular economy and franchising, allowing it to participate in secondhand demand across multiple consumer categories without bearing the operating risk of individual store locations.
- Resale demand drives Platos Closet and Once Upon A Child royalties
- Winmark Capital leasing portfolio performance impacts earnings
- New franchise unit growth expands recurring royalty revenue
| Net Income: 40.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 1.02 > 0.02 and ΔFCF/TA 0.05 > 1.0 |
| NWC/Revenue: 26.07% < 20% (prev 30.21%; Δ -4.13% < -1%) |
| CFO/TA 1.00 > 3% & CFO 43.4m > Net Income 40.7m |
| Net Debt (39.7m) to EBITDA (56.0m): 0.71 < 3 |
| Current Ratio: 3.75 > 1.5 & < 3 |
| Outstanding Shares: last quarter (3.70m) vs 12m ago 0.77% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 200.4% > 50% (prev 193.2%; Δ 7.23% > 0%) |
| Interest Coverage Ratio: 22.34 > 6 (EBIT TTM 54.8m / Interest Expense TTM 2.45m) |
| A: 0.52 (Total Current Assets 30.8m - Total Current Liabilities 8.20m) / Total Assets 43.2m |
| B: -1.41 (Retained Earnings -60.7m / Total Assets 43.2m) |
| C: 1.27 (EBIT TTM 54.8m / Avg Total Assets 43.2m) |
| D: -0.47 (Book Value of Equity -37.6m / Total Liabilities 80.8m) |
| Altman-Z'' = 6.88 = AAA |
| DSRI: 1.01 (Receivables 2.28m/2.17m, Revenue 86.5m/83.4m) |
| GMI: 1.00 (GM 96.24% / 96.66%) |
| AQI: 1.27 (AQ_t 0.23 / AQ_t-1 0.18) |
| SGI: 1.04 (Revenue 86.5m / 83.4m) |
| TATA: -0.06 (NI 40.7m - CFO 43.4m) / TA 43.2m) |
| Beneish M = -2.84 (Cap -4..+1) = A |
As of September 20, 2026, the stock is trading at USD 285.38 with a total of 533,885 shares traded. Over the past week, the price has changed by -7.49%, over one month by -16.88%, over three months by -28.52% and over the past year by -42.68%.
Current recommended Stop Loss: 269.70 (which is 5.5% or 1.4 ATR below the current price).
Winmark has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy WINA.
- StrongBuy: 0
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 545 | 91% |
P/E Trailing = 27.4043
P/E Forward = 14.9031
P/S = 12.2404
P/B = 58.6841
P/EG = 1.4084
Revenue TTM = 86.5m USD
EBIT TTM = 54.8m USD
EBITDA TTM = 56.0m USD
Long Term Debt = 60.0m USD (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = 64.1m USD (from shortLongTermDebtTotal, last quarter) + Leases 2.05m
Net Debt = 39.7m USD (calculated: Debt 64.1m - CCE 24.4m)
Enterprise Value = 1.10b USD (1.06b + Debt 64.1m - CCE 24.4m)
Interest Coverage Ratio = 22.34 (Ebit TTM 54.8m / Interest Expense TTM 2.45m)
EV/FCF = 24.95x (Enterprise Value 1.10b / FCF TTM 44.0m)
FCF Yield = 4.01% (FCF TTM 44.0m / Enterprise Value 1.10b)
FCF Margin = 50.90% (FCF TTM 44.0m / Revenue TTM 86.5m)
Net Margin = 47.06% (Net Income TTM 40.7m / Revenue TTM 86.5m)
Gross Margin = unknown ((Revenue TTM 86.5m - Cost of Revenue TTM 2.89m) / Revenue TTM)
Tobins Q-Ratio = 25.44 (Enterprise Value 1.10b / Total Assets 43.2m)
Interest Expense / Debt = 3.82% (Interest Expense 2.45m / Debt 64.1m)
Taxrate = 21.97% (11.5m / 52.2m)
NOPAT = 42.7m (EBIT 54.8m * (1 - 21.97%))
Current Ratio = 2.98 (Total Current Assets 30.8m / Total Current Liabilities 10.3m)
Debt / Equity = -1.70 (negative equity) (Debt 64.1m / totalStockholderEquity, last quarter -37.6m)
Debt / EBITDA = 0.71 (Net Debt 39.7m / EBITDA 56.0m)
Debt / FCF = 0.90 (Net Debt 39.7m / FCF TTM 44.0m)
Total Stockholder Equity = -41.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 94.31% (Net Income 40.7m / Total Assets 43.2m)
RoE = -99.42% (negative equity) (Net Income TTM 40.7m / Total Stockholder Equity -41.0m)
RoCE = 288.1% (EBIT 54.8m / Capital Employed (Equity -41.0m + L.T.Debt 60.0m))
RoIC = 139.4% (NOPAT 42.7m / Invested Capital 30.7m)
WACC = 7.65% (E(1.06b)/V(1.12b) * Re(7.93%) + D(64.1m)/V(1.12b) * Rd(3.82%) * (1-Tc(0.22)))
Discount Rate = 7.93% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 93.64 | Cagr: 0.49%
[DCF] Terminal Value 75.45% ; FCFF base≈44.0m ; Y1≈44.2m ; Y5≈46.9m
[DCF] Fair Price = 192.2 (EV 730.0m - Net Debt 39.7m = Equity 690.3m / Shares 3.59m; r=8.35% [WACC [floored]]; 5y FCF grow 0.09% → 2.50% )
EPS Correlation: 26.60 | EPS CAGR: 0.39% | SUE: -3.33 | # QB: -4
Revenue Correlation: 61.46 | Revenue CAGR: 1.31% | SUE: 0.47 | # QB: 0
EPS current Quarter (2026-09-30): EPS=3.23 | Chg30d=-3.58% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=11.37 | Chg30d=-4.29% | Revisions=-25% | GrowthEPS=+0.6% | GrowthRev=+3.4%
EPS next Year (2027-12-31): EPS=12.49 | Chg30d=-3.03% | Revisions=-25% | GrowthEPS=+9.8% | GrowthRev=+6.2%