WINAWinmark Corporation
Is the business good?
The checks split: earnings fully cash-backed (1.0×), but margins compressing.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash.
Operating profit is falling even as sales grow, costs are outrunning the top line.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is WINA?
Winmark Corporation keeps 62% of every revenue dollar as operating profit, against 8.1% for the median Specialty Retail name.
Operating margin · Specialty Retail median 8.1% · 12 months to Q2 2026
- Cash conversion
- 1.03×
Cash conversion · 1.05× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- +0.62%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 61% |
| FY2021 | 66% |
| FY2022 | 66% |
| FY2023 | 64% |
| FY2024 | 65% |
| FY2025 | 63% |
Details›
- Operating margin12 months to Q2 2026
- 62%
- Net margin12 months to Q2 2026
- 47%
- Free cash flow margin
- 50%
- Revenue, trailing twelve months
- $87M
- Free cash flow, trailing twelve months
- $43M
- Net income, trailing twelve months
- $41M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.