Winmark Corporation (WINA) Income Statement
WINA 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsWINA revenue and net income
Where WINA's revenue goes
2025Each bar shows an amount and its share of revenue. WINA kept 48.4% of revenue as net income.
WINA profit margins
WINA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +5.9% | +1.9% | +5.4% | +2.2% |
| Gross profit | +6.5% | +2.6% | +6.2% | +3.1% |
| Operating income | +3.1% | +0.6% | +6.3% | +3.9% |
| Net income | +4.3% | +1.9% | +6.9% | +6.7% |
| EPS (diluted) | +3.9% | +1.0% | +7.9% | +9.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WINA quarterly EPS vs estimates
Winmark beat the analyst EPS estimate in 1 of the last 8 quarters.
WINA income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $86.1M | $81.3M | $83.2M | $81.4M | $78.2M | $66.1M | $73.3M | $72.5M | $69.7M | $66.6M |
| Cost of revenue | $3.1M | $3.4M | $4.5M | $4.7M | $4.8M | $4.7M | $4.5M | $4.7M | $5.7M | $4.4M |
| Gross profit | $83.0M | $77.9M | $78.8M | $76.7M | $73.4M | $61.3M | $68.8M | $67.8M | $64.0M | $62.2M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $28.4M | $24.9M | $25.2M | $23.2M | $22.3M | $21.2M | $25.7M | $28.0M | $28.5M | $26.2M |
| Total operating expenses | $28.4M | $24.9M | $25.1M | $23.1M | $22.1M | $21.1M | $25.7M | $26.1M | $25.3M | $23.9M |
| Operating income | $54.6M | $52.9M | $53.3M | $53.6M | $51.3M | $40.2M | $43.1M | $41.8M | $38.8M | $38.3M |
| Interest income | $988,500 | $1.2M | $882,000 | $85,600 | — | $43,400 | $67,400 | — | $12,900 | $2.4M |
| Interest expense | $2.4M | $2.9M | $3.1M | $2.9M | $1.5M | $1.7M | $1.7M | $2.5M | $2.4M | $2.4M |
| Income before taxes | $53.1M | $51.2M | $51.4M | $50.8M | $49.9M | $38.5M | $41.5M | $39.3M | $36.4M | $35.9M |
| Income taxes | $11.5M | $11.3M | $11.2M | $11.4M | $9.9M | $8.7M | $9.3M | $9.2M | $11.9M | $13.7M |
| Net income | $41.7M | $40.0M | $40.2M | $39.4M | $39.9M | $29.8M | $32.1M | $30.1M | $24.6M | $22.2M |
| EBITDA | $56.7M | $55.2M | $54.3M | $54.6M | $52.0M | $41.1M | $43.9M | $42.1M | $39.1M | $38.7M |
| EPS (diluted) | $11.31 | $10.89 | $11.04 | $10.98 | $10.49 | $7.72 | $7.84 | $7.26 | $5.37 | $5.29 |
| Gross margin | 96.4% | 95.8% | 94.6% | 94.2% | 93.9% | 92.8% | 93.9% | 93.6% | 91.8% | 93.4% |
| Operating margin | 63.4% | 65.1% | 64.0% | 65.9% | 65.6% | 60.9% | 58.8% | 57.6% | 55.6% | 57.5% |
| Net margin | 48.4% | 49.2% | 48.3% | 48.4% | 51.0% | 45.1% | 43.9% | 41.5% | 35.2% | 33.4% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $27.9M | $22.0M | $20.8M | $21.1M | $22.6M | $20.4M | $21.9M | $19.5M | $21.5M | $20.1M | $20.1M | $20.0M |
| Cost of revenue | $4.8M | $818,500 | $618,500 | $786,300 | $663,300 | $766,500 | $888,300 | $816,600 | $662,500 | $861,100 | $1.1M | $1.1M |
| Gross profit | $23.1M | $21.1M | $20.2M | $20.3M | $22.0M | $19.7M | $21.0M | $18.7M | $20.8M | $19.3M | $19.0M | $18.9M |
| Sales, general & admin | $7.3M | $7.5M | $7.9M | $7.3M | $7.0M | $6.6M | $7.4M | $6.0M | $5.9M | $6.2M | $6.8M | $6.4M |
| Total operating expenses | $7.3M | $7.5M | $7.9M | $7.3M | $7.0M | $6.6M | $7.4M | $6.0M | $5.9M | $6.2M | $6.8M | $6.4M |
| Operating income | $15.8M | $13.6M | $12.4M | $13.0M | $14.9M | $13.1M | $13.6M | $12.8M | $14.9M | $13.0M | $12.2M | $12.5M |
| Interest income | — | $155,600 | $118,700 | $273,700 | $310,300 | $254,600 | $149,900 | $295,100 | $386,400 | $280,800 | $187,900 | $368,300 |
| Interest expense | $610,300 | $613,900 | $613,900 | $612,900 | $610,300 | $609,800 | $613,900 | $693,600 | $704,100 | $721,400 | $737,700 | $751,100 |
| Income before taxes | $15.4M | $13.0M | $11.9M | $12.7M | $14.6M | $12.7M | $13.1M | $12.4M | $14.6M | $12.6M | $11.7M | $12.1M |
| Income taxes | $3.6M | $2.7M | $2.6M | $2.7M | $3.5M | $2.1M | $3.2M | $2.8M | $3.5M | $2.1M | $2.8M | $2.4M |
| Net income | $11.8M | $10.4M | $9.3M | $10.0M | $11.1M | $10.6M | $10.0M | $9.6M | $11.1M | $10.4M | $8.8M | $9.7M |
| EBITDA | $16.2M | $14.0M | $12.8M | $13.6M | $15.5M | $13.4M | $14.0M | $13.3M | $15.6M | $13.6M | $12.7M | $12.8M |
| EPS (diluted) | $3.21 | $2.81 | $2.50 | $2.69 | $3.02 | $2.89 | $2.71 | $2.60 | $3.03 | $2.85 | $2.41 | $2.64 |
| Gross margin | 82.9% | 96.3% | 97.0% | 96.3% | 97.1% | 96.2% | 95.9% | 95.8% | 96.9% | 95.7% | 94.7% | 94.5% |
| Operating margin | 56.6% | 62.1% | 59.3% | 61.7% | 65.9% | 64.0% | 62.0% | 65.3% | 69.4% | 64.7% | 60.8% | 62.5% |
| Net margin | 42.4% | 47.2% | 44.4% | 47.2% | 49.2% | 51.9% | 45.4% | 49.0% | 51.7% | 51.8% | 43.9% | 48.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WINA's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WINA financial results
In fiscal year 2025 (ended December 31, 2025), Winmark reported revenue of $86.1 million, up 5.9% from the year before. It had net income of $41.7 million (up 4.3%), a net profit margin of 48.4%. Diluted earnings per share came to $11.31. Over five years revenue grew at an average rate of 5.4% a year.
See the WINA stock overview for the latest quote and news, or the WINA chart for price history and technical indicators.
WINA income statement FAQ
What is Winmark's annual revenue?
Winmark reported total revenue of $86.1 million for fiscal year 2025, which ended on December 31, 2025. That was up 5.9% from $81.3 million the previous year.
Is Winmark profitable?
Yes. Winmark reported net income of $41.7 million in fiscal 2025, a net profit margin of 48.4%; its operating margin was 63.4%.
What is Winmark's gross margin?
Winmark's gross margin was 96.4% in fiscal 2025: for every $100 of revenue, Winmark kept $96 after the direct cost of its products and services.
How fast is Winmark growing?
Revenue grew 5.4% a year on average over the last five fiscal years, from $66.1 million to $86.1 million.
What are Winmark's earnings per share?
Winmark earned $11.31 per diluted share in fiscal 2025, compared with $10.89 a year earlier.
When does Winmark's fiscal year end?
Winmark's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.