WINMARK CORP (WINA) FY2025 10-K Annual Report

Filed: Feb 25, 2026
Consumer Discretionary
Retail-Miscellaneous RetailSEC EDGAR

WINMARK CORP (WINA) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 25, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

WINMARK CORP FY2025 10-K Analysis

Business Overview

  • Core business model: franchisor of resale retail brands specializing in gently used apparel, toys, sports goods, musical instruments
  • Emphasis on sustainability and small business formation through franchising of five resale brands
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Management Discussion & Analysis

  • Royalties revenue $76.4M, up $4.2M or 5.8% YoY in 2025
  • Selling, general & administrative expense $28.3M, up $3.4M or 13.7% YoY
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Risk Factors

  • No specific regulatory or legal risk identified in the filing
  • No geopolitical or macroeconomic threat with concrete exposure detailed
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WINMARK CORP FY2025 Key Financial Metrics
XBRL

Revenue

$86M

+5.9% YoY

Net Income

$42M

+4.3% YoY

Operating Margin

63.4%

-167bp YoY

Net Margin

48.4%

-75bp YoY

ROE

-77.6%

+68bp YoY

Total Assets

$25M

-7.3% YoY

EPS (Diluted)

$11.30

+3.8% YoY

Operating Cash Flow

$45M

+6.5% YoY

Source: XBRL data from WINMARK CORP FY2025 10-K filing on SEC EDGAR. All figures in USD.

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