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WINMARK CORP (WINA) Stock Fundamental Analysis

NASDAQ:WINA - Nasdaq - US9742501029 - Common Stock - Currency: USD

338.43  -13.6 (-3.86%)

After market: 338.43 0 (0%)

Fundamental Rating

7

Overall WINA gets a fundamental rating of 7 out of 10. We evaluated WINA against 120 industry peers in the Specialty Retail industry. WINA scores excellent points on both the profitability and health parts. This is a solid base for a good stock. WINA is valied quite expensively at the moment, while it does show a decent growth rate. These ratings could make WINA a good candidate for quality investing.


Dividend Valuation Growth Profitability Health

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9

1. Profitability

1.1 Basic Checks

WINA had positive earnings in the past year.
WINA had a positive operating cash flow in the past year.
WINA had positive earnings in each of the past 5 years.
In the past 5 years WINA always reported a positive cash flow from operatings.
WINA Yearly Net Income VS EBIT VS OCF VS FCFWINA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10M 20M 30M 40M 50M

1.2 Ratios

With an excellent Return On Assets value of 94.14%, WINA belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
The Return On Invested Capital of WINA (122.11%) is better than 100.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for WINA is significantly above the industry average of 12.30%.
The 3 year average ROIC (223.55%) for WINA is well above the current ROIC(122.11%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 94.14%
ROE N/A
ROIC 122.11%
ROA(3y)138.79%
ROA(5y)112.67%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)223.55%
ROIC(5y)178.96%
WINA Yearly ROA, ROE, ROICWINA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200 -200 -400 -600

1.3 Margins

WINA has a better Profit Margin (48.00%) than 100.00% of its industry peers.
In the last couple of years the Profit Margin of WINA has grown nicely.
WINA has a Operating Margin of 63.70%. This is amongst the best in the industry. WINA outperforms 100.00% of its industry peers.
WINA's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 95.39%, WINA belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
In the last couple of years the Gross Margin of WINA has remained more or less at the same level.
Industry RankSector Rank
OM 63.7%
PM (TTM) 48%
GM 95.39%
OM growth 3Y1.72%
OM growth 5Y2.11%
PM growth 3Y2.3%
PM growth 5Y3.06%
GM growth 3Y-0.76%
GM growth 5Y-0.34%
WINA Yearly Profit, Operating, Gross MarginsWINA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 20 40 60 80

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8

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so WINA is creating value.
WINA has more shares outstanding than it did 1 year ago.
The number of shares outstanding for WINA has been reduced compared to 5 years ago.
The debt/assets ratio for WINA has been reduced compared to a year ago.
WINA Yearly Shares OutstandingWINA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 1M 2M 3M 4M
WINA Yearly Total Debt VS Total AssetsWINA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M

2.2 Solvency

An Altman-Z score of 14.22 indicates that WINA is not in any danger for bankruptcy at the moment.
WINA has a Altman-Z score of 14.22. This is amongst the best in the industry. WINA outperforms 100.00% of its industry peers.
WINA has a debt to FCF ratio of 1.56. This is a very positive value and a sign of high solvency as it would only need 1.56 years to pay back of all of its debts.
With a decent Debt to FCF ratio value of 1.56, WINA is doing good in the industry, outperforming 76.07% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 1.56
Altman-Z 14.22
ROIC/WACC12.05
WACC10.13%
WINA Yearly LT Debt VS Equity VS FCFWINA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20M -20M 40M -40M 60M -60M

2.3 Liquidity

WINA has a Current Ratio of 3.84. This indicates that WINA is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of WINA (3.84) is better than 94.02% of its industry peers.
WINA has a Quick Ratio of 3.80. This indicates that WINA is financially healthy and has no problem in meeting its short term obligations.
The Quick ratio of WINA (3.80) is better than 98.29% of its industry peers.
Industry RankSector Rank
Current Ratio 3.84
Quick Ratio 3.8
WINA Yearly Current Assets VS Current LiabilitesWINA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 18.49% over the past year.
The Earnings Per Share has been growing by 8.50% on average over the past years. This is quite good.
The Revenue has grown by 20.82% in the past year. This is a very strong growth!
Measured over the past years, WINA shows a small growth in Revenue. The Revenue has been growing by 2.80% on average per year.
EPS 1Y (TTM)18.49%
EPS 3Y13.04%
EPS 5Y8.5%
EPS Q2Q%-0.66%
Revenue 1Y (TTM)20.82%
Revenue growth 3Y7.99%
Revenue growth 5Y2.8%
Sales Q2Q%-3.63%

3.2 Future

Based on estimates for the next years, WINA will show a small growth in Earnings Per Share. The EPS will grow by 5.71% on average per year.
The Revenue is expected to grow by 2.64% on average over the next years.
EPS Next Y1.11%
EPS Next 2Y5.71%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year0.47%
Revenue Next 2Y2.64%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
WINA Yearly Revenue VS EstimatesWINA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M
WINA Yearly EPS VS EstimatesWINA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8 10

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3

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 25.39, the valuation of WINA can be described as expensive.
WINA's Price/Earnings ratio is in line with the industry average.
The average S&P500 Price/Earnings ratio is at 29.63. WINA is around the same levels.
Based on the Price/Forward Earnings ratio of 27.44, the valuation of WINA can be described as expensive.
WINA's Price/Forward Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.68, WINA is valued a bit more expensive.
Industry RankSector Rank
PE 25.39
Fwd PE 27.44
WINA Price Earnings VS Forward Price EarningsWINA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of WINA indicates a slightly more expensive valuation: WINA is more expensive than 60.68% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, WINA is valued a bit cheaper than 64.10% of the companies in the same industry.
Industry RankSector Rank
P/FCF 28.25
EV/EBITDA 19.3
WINA Per share dataWINA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10 20

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates WINA does not grow enough to justify the current Price/Earnings ratio.
The excellent profitability rating of WINA may justify a higher PE ratio.
PEG (NY)22.88
PEG (5Y)2.99
EPS Next 2Y5.71%
EPS Next 3YN/A

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3

5. Dividend

5.1 Amount

With a yearly dividend of 0.95%, WINA is not a good candidate for dividend investing.
WINA's Dividend Yield is a higher than the industry average which is at 4.01.
With a Dividend Yield of 0.95, WINA pays less dividend than the S&P500 average, which is at 2.29.
Industry RankSector Rank
Dividend Yield 0.95%

5.2 History

The dividend of WINA is nicely growing with an annual growth rate of 86.26%!
WINA has paid a dividend for at least 10 years, which is a reliable track record.
WINA has decreased its dividend recently.
Dividend Growth(5Y)86.26%
Div Incr Years1
Div Non Decr Years1
WINA Yearly Dividends per shareWINA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8 10

5.3 Sustainability

WINA pays out 91.59% of its income as dividend. This is not a sustainable payout ratio.
The dividend of WINA is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP91.59%
EPS Next 2Y5.71%
EPS Next 3YN/A
WINA Yearly Income VS Free CF VS DividendWINA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10M 20M 30M 40M
WINA Dividend Payout.WINA Dividend Payout, showing the Payout Ratio.WINA Dividend Payout.PayoutRetained Earnings

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WINMARK CORP

NASDAQ:WINA (2/21/2025, 8:00:02 PM)

After market: 338.43 0 (0%)

338.43

-13.6 (-3.86%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustrySpecialty Retail
Earnings (Last)10-16 2024-10-16/dmh
Earnings (Next)02-26 2025-02-26
Inst Owners76.3%
Inst Owner Change3.38%
Ins Owners5.36%
Ins Owner Change-1%
Market Cap1.19B
Analysts82.86
Price Target453.9 (34.12%)
Short Float %4.74%
Short Ratio7.63
Dividend
Industry RankSector Rank
Dividend Yield 0.95%
Yearly Dividend12.55
Dividend Growth(5Y)86.26%
DP91.59%
Div Incr Years1
Div Non Decr Years1
Ex-Date02-12 2025-02-12 (0.9)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-2.56%
Min EPS beat(2)-5.99%
Max EPS beat(2)0.87%
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-3.97%
Min Revenue beat(2)-5.53%
Max Revenue beat(2)-2.41%
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 25.39
Fwd PE 27.44
P/S 11.69
P/FCF 28.25
P/OCF 28.05
P/B N/A
P/tB N/A
EV/EBITDA 19.3
EPS(TTM)13.33
EY3.94%
EPS(NY)12.33
Fwd EY3.64%
FCF(TTM)11.98
FCFY3.54%
OCF(TTM)12.06
OCFY3.56%
SpS28.95
BVpS-9.59
TBVpS-10.53
PEG (NY)22.88
PEG (5Y)2.99
Profitability
Industry RankSector Rank
ROA 94.14%
ROE N/A
ROCE 156.76%
ROIC 122.11%
ROICexc 1202.28%
ROICexgc 5820.79%
OM 63.7%
PM (TTM) 48%
GM 95.39%
FCFM 41.38%
ROA(3y)138.79%
ROA(5y)112.67%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)223.55%
ROIC(5y)178.96%
ROICexc(3y)1017.15%
ROICexc(5y)802.18%
ROICexgc(3y)2322.59%
ROICexgc(5y)1609.17%
ROCE(3y)287%
ROCE(5y)229.75%
ROICexcg growth 3Y53.43%
ROICexcg growth 5Y61.17%
ROICexc growth 3Y6.42%
ROICexc growth 5Y26.98%
OM growth 3Y1.72%
OM growth 5Y2.11%
PM growth 3Y2.3%
PM growth 5Y3.06%
GM growth 3Y-0.76%
GM growth 5Y-0.34%
F-Score6
Asset Turnover1.96
Health
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 1.56
Debt/EBITDA 0.95
Cap/Depr 37.17%
Cap/Sales 0.29%
Interest Coverage 22.47
Cash Conversion 64.63%
Profit Quality 86.22%
Current Ratio 3.84
Quick Ratio 3.8
Altman-Z 14.22
F-Score6
WACC10.13%
ROIC/WACC12.05
Cap/Depr(3y)46.04%
Cap/Depr(5y)659.96%
Cap/Sales(3y)0.33%
Cap/Sales(5y)3.96%
Profit Quality(3y)113.27%
Profit Quality(5y)120.01%
High Growth Momentum
Growth
EPS 1Y (TTM)18.49%
EPS 3Y13.04%
EPS 5Y8.5%
EPS Q2Q%-0.66%
EPS Next Y1.11%
EPS Next 2Y5.71%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)20.82%
Revenue growth 3Y7.99%
Revenue growth 5Y2.8%
Sales Q2Q%-3.63%
Revenue Next Year0.47%
Revenue Next 2Y2.64%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y19.83%
EBIT growth 3Y9.85%
EBIT growth 5Y4.97%
EBIT Next Year6.44%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-10.84%
FCF growth 3Y3.74%
FCF growth 5Y31.38%
OCF growth 1Y-10.62%
OCF growth 3Y0.59%
OCF growth 5Y4.72%