Winmark Corporation (WINA) fair value: what the stock is really worth
As of Nov 11, 2026: fair value (intrinsic value) of Winmark Corporation stock $157, price $275, that is 43.1% below the price, quality 92 out of 100. Rating: strongly overvalued. Calculated from audited financials with 22 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 11, 2026.
How to read this chart
60‑month range $167.01 – $489.93 · fair‑value band $113.75 – $215.96 · the $275.16 price screens above the $156.65 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 11, 2026.
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Winmark Corporation, a resale company, operates as a franchisor in the United States and Canada.
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It is involved in the operation of Plato's Closet, which franchisees buy and sell gently used clothing and accessories for the teenage and young adult market; Once Upon A Child, which franchisees buy and sell gently used and, to a lesser extent, new children's clothing, toys, furniture, equipment, and accessories; and Style Encore, which franchisees buy and sell gently used women's and men's apparel, shoes, and accessories.
The company also operates Play It Again Sports, which franchisees buy, sell and trade gently used and new sporting goods, equipment, and accessories for various athletic activities, including team sports, fitness, ski and snowboard, and golf; Music Go Round, which franchisees buy, sell, and trade gently used and, to a lesser extent, new musical instruments, speakers, amplifiers, music-related electronics, and related accessories.
In addition, it engages in the operation of a middle-market equipment leasing business under the Winmark Capital brand; and provision of point-of-sale system hardware to its franchisees and certain merchandise to its Play It Again Sports franchisees.
The company was formerly known as Grow Biz International, Inc. and changed its name to Winmark Corporation in November 2001. Winmark Corporation was incorporated in 1988 and is headquartered in Minneapolis, Minnesota.
Stock analysis
Winmark Corporation (WINA) currently trades at $275.16, while our model-based Fair Value estimate is $156.65, 43% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $201.98 per share, and 0 of the 22 models we run sit above the $275.16 price.
Bear case: the Economic Profit group reads lowest at $106.81, and 22 of the 22 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $113.75 (bear) to $215.96 (bull), the price of $275.16 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 92/100 (high quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Winmark Corporation reported revenue of $86.1M in FY2025 versus $78.2M in FY2021, a compound +2.4%/yr. Reported net income was $41.7M in FY2025, compounding +1.1%/yr from FY2021.
Key figures
Market cap $1.1B Small · P/E ratio 24.6 · P/S ratio 12.3 · EPS (TTM) $11.20 · Dividend yield 1.4% · Net margin 45.1% · Return on assets (EBIT) 194% (5-year average) · Operating margin 56.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 88 out of 100 (medium confidence).
What moves the price
The share trades about 41% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −8% fair-value upside, at −43%, WINA screens richer than that median.
Fair Value models
Bear$113.75Fair Value $156.65Bull$215.96
Price $275.16 · Downside -43.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($6.27 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, no officer or director bought or sold shares on the open market.
SaleJenele C GrassleDirector2× since Nov 21, 2025: 6,300 shares, avg. $454.87$2.9MMar 4, 2026
SalePercy C Tomlinson JrDirector1,660 shares at $460.52$764,463Mar 3, 2026
Plus one other filing such as a grant, option exercise or tax withholding. It is not a market purchase or sale.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.75/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+5.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.4%
Start year 2020 (pandemic). Over 10 years: +2.2% a year
Revenue growth 32 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.6%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+9.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.6%
Dividend (yield on the price)1.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.7.6% vs 9.2%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.61% → 63%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+13.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +10.9% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Retail · 215 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score92 · Top 25%
Fair Value upside−43.1% · Bottom 25%
Profitability
Return on equity (12 months)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets167.4% · Top 25%
Net margin (12 months)45.1% · Top 25%
Operating margin (12 months)56.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)23.2% · Top 25%
Dividend yield (12 months)1.4% · Below median
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs Specialty Retail median · lower = cheaper
P/E (12 months)24.6× · Pricier than median
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Winmark Corporation Fair Value". https://www.fairvalue-calculator.com/stock/WINA
Frequently asked questions
Is Winmark Corporation (WINA) overvalued or undervalued?
As of Nov 11, 2026, our model estimates a fair value of $156.65 versus a price of $275.16, about 43% lower (overvalued).
What is the fair value of WINA?
Our model-based fair value for Winmark Corporation is $156.65 (as of Nov 11, 2026), built from audited fundamentals. The current price: $275.16.
What is the quality score of WINA?
Winmark Corporation has a Quality Score of 92/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Winmark Corporation (WINA)?
Our model-based price target is the fair value of $156.65 (as of Nov 11, 2026) from 22 valuation models. Cautious scenario $113.75, optimistic scenario $215.96. It is a calculation from audited fundamentals, not an analyst target.
What is the Winmark Corporation stock forecast for 2026?
Our models put fair value at $156.65, about 43% lower versus a price of $275.16 (overvalued). Cautious scenario $113.75, optimistic scenario $215.96. The calculation is refreshed regularly with new filings.
What is the revenue of Winmark Corporation (WINA)?
Winmark Corporation reported trailing-twelve-month revenue of about $91.8M (latest available figure, as of Nov 11, 2026).
Does Winmark Corporation pay a dividend?
Winmark Corporation currently shows a dividend yield of 1.44% relative to its recent price (as of Nov 11, 2026).
How much is the dividend of Winmark Corporation (WINA) and when is the ex-dividend date?
Winmark Corporation pays a dividend of $3.96 per share a year, a dividend yield of 1.4%. The last ex-dividend date was Nov 10, 2026. A dividend has been paid every year since at least 2010. The payout ratio is 35.4% of earnings. Free cash flow covers the dividend 3.14 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Winmark Corporation (WINA)?
For today's price to be fair in a discounted-cash-flow model, Winmark Corporation would have to grow free cash flow by +13.5 % per year for five years (discount rate 10.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.4 % per year. As of Nov 11, 2026.
What discount rate (WACC) does the fair value of WINA use?
Our models discount Winmark Corporation at 10.0 %: a base by market capitalisation (small), damped by beta 0.55, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Winmark Corporation that is +13.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.0 %) and the same formula as our fair value.
How much growth has Winmark Corporation (WINA) delivered so far?
Over the past 5 years revenue at Winmark Corporation grew +5.4 % a year. The price currently implies free-cash-flow growth of +13.5 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Winmark Corporation (WINA) growing?
The median revenue growth in the sector is +4.4 % a year. That is the yardstick for the growth priced into Winmark Corporation (+13.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Winmark Corporation (WINA)?
The free-cash-flow yield on the price is 4.39 %: that much free cash flow Winmark Corporation produces per unit of market value. When it exceeds the discount rate of our models (10.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Winmark Corporation (WINA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Winmark Corporation it is $156.65 per share (as of Nov 11, 2026), against a price of $275.16. It is the blended result of 22 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Winmark Corporation stock overvalued or undervalued in 2026?
As of Nov 11, 2026, WINA trades above its calculated fair value: price $275.16, fair value $156.65, a gap of about −43% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WINA?
No. The price is what the market pays today ($275.16); the fair value is what the company's own numbers justify ($156.65). For Winmark Corporation the two are $118.51 per share apart. That gap is exactly why we show both numbers side by side.
How much is Winmark Corporation worth?
The market values Winmark Corporation at about $1.1B (market capitalisation, as of Nov 11, 2026). Per share that is $275.16; our models calculate a fair value of $156.65 per share.
What do the bullish and bearish scenarios say about WINA?
Our models span a range for Winmark Corporation: cautious scenario $113.75, base $156.65, optimistic $215.96 per share (as of Nov 11, 2026, price $275.16). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WINA?
Winmark Corporation trades at a price-to-earnings ratio of 24.6 (as of Nov 11, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $156.65 is built from several models across several years. Other multiples: PEG 1.4, P/S 12.3, EV/EBITDA 21.3.
What is the PEG ratio of WINA?
The PEG ratio of Winmark Corporation is 1.41 (P/E divided by earnings growth, as of Nov 11, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Winmark Corporation (WINA)?
Balance-sheet figures for Winmark Corporation (as of Nov 11, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 92/100, which measures business quality independently of the share price.
How far is WINA from its 52-week high?
Winmark Corporation trades at $275.16, about 41% below its 52-week high of $467.51 and 6% above the low of $259.42 (as of Nov 11, 2026). Distance from the high says nothing about value: that is what the fair value of $156.65 is for.
Which stocks are comparable to Winmark Corporation?
From the same area (Consumer Cyclical) we also value Alimentation Couche-Tard Inc, Williams-Sonoma, Inc, Ulta Beauty, Inc, Casey's General Stores, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Winmark Corporation stock attractive at the current price?
The data as of Nov 11, 2026: price $275.16, calculated fair value $156.65 (−43%), Quality Score 92/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WINA calculated?
We run Winmark Corporation through 22 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $156.65 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0% above its aggregate fair value. Winmark Corporation itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Winmark Corporation (WINA)?
The closing price on Nov 11, 2026 was $275.16. Our model-based fair value is $156.65, about 43% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Winmark Corporation right now?
A high-quality business (quality 92/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case ($215.96). The favourable scenario is already priced in. A fairly wide model range ($113.75 to $215.96) leaves room in how you read the outcome.
Where does the earnings growth of Winmark Corporation (WINA) come from?
Earnings per share at Winmark Corporation grew +10.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.7 %, EBIT margin +1.7 %, tax rate +2.7 %, residual (interest, one-offs) +0.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Winmark Corporation
How large is the market capitalisation of Winmark Corporation (WINA)?
The market capitalisation of Winmark Corporation is $1.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Winmark Corporation (WINA)?
The price-to-sales ratio of Winmark Corporation is 12.3 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Winmark Corporation (WINA)?
Earnings per share at Winmark Corporation are $11.20 (price ÷ EPS = P/E 24.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Winmark Corporation (WINA)?
The dividend yield of Winmark Corporation is 1.4% (payout 35.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Winmark Corporation (WINA)?
The net margin of Winmark Corporation is 45.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of Winmark Corporation (WINA)?
On an EBIT basis the return on assets of Winmark Corporation is 194% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Winmark Corporation (WINA)?
The operating margin of Winmark Corporation is 56.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Winmark Corporation (WINA)?
Revenue at Winmark Corporation is growing +23.2% versus a year earlier (3y avg +1.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Winmark Corporation (WINA)?
Earnings per share at Winmark Corporation are growing +6.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Winmark Corporation (WINA) carry?
The net debt of Winmark Corporation is $54.3M (fiscal year 2025, ≈ 1.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 11, 2026