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Winmark (WINA) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 14, 2026 · Winmark (WINA) Q3 2026 earnings results →
Q3 2026 Revenue up 23% year over year to $27.9M · 42¢ of every $1 of revenue kept as net profit · operating margin 56.6%
Winmark made $27.9M in Q3 2026 (+23% Y/Y): Royalties $21.7M, North American advertising fund $3.8M, Merchandise sales $1.0M. Operating margin 56.6%, net earnings $11.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 14, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $27.9M in Q3 2026, up 23% year over year and up 27% from the previous quarter. Royalties was the largest line at 78% of revenue. Royalties added $796K year over year (up 4%), 15% of the total change. Franchise fees declined 21%.
Operating profit was $15.8M, a 56.6% margin (down 9.3 points year over year). Of the extra revenue versus Q3 2025, 16% reached operating profit, below the 66% margin then. Total costs grew 57% against revenue growth of 23%. The fastest-growing cost line was Other operating costs (+620%). Net earnings were $11.8M, up 6% year over year. The effective tax rate was 23.3%.
Operating cash flow was $12.9M (up 6% year over year), 110% of net earnings. Non-cash charges added back $182K of depreciation and amortization and $689K of share-based compensation. Capital expenditures of $222K left free cash flow of $12.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 14, 2026 | $27.9M | +23% | 56.6% | $11.8M | $12.9M |
| Q2 2026 | 10-Q | Jul 15, 2026 | $22.0M | +8% | 62.1% | $10.4M | $10.7M |
| Q1 2026 | 10-Q | Apr 15, 2026 | $20.8M | -5% | 59.3% | $9.3M | $11.9M |
| Q4 2025 | 10-K | Feb 25, 2026 | $21.1M | +8% | 61.7% | $10.0M | $8.5M |
| Q3 2025 | 10-Q | Oct 15, 2025 | $22.6M | +5% | 65.9% | $11.1M | $12.3M |
| Q2 2025 | 10-Q | Jul 15, 2025 | $20.4M | +2% | 64.0% | $10.6M | $9.0M |
| Q1 2025 | 10-Q | Apr 16, 2025 | $21.9M | +9% | 62.0% | $10.0M | $15.1M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Winmark
Winmark – the Resale Company® (Winmark Corporation, Winmark or the Company), is a nationally recognized franchisor focused on sustainability and small business formation. We champion and guide entrepreneurs interested in operating one of our award winning resale franchises: Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. At December 27, 2025, there were 1,378 franchises in operation in the United States and Canada and over 2,800 available territories. Our mission is to provide Resale for Everyone®.
In its own words, from its 10-K, filed Feb 25, 2026.
Winmark against its Retail-Miscellaneous Retail peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +23% against the peers' median +18%. Operating margin: 56.6% against the peers' median 9.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| WINA Winmark | Q3 2026 | $27.9M | +23% | 56.6% |
| FCFS FirstCash Holdings | Q3 2026 | $1.1B | +18% | 12.6% |
| SVV Savers Value Village | Q3 2026 | $463M | +8% | 9.8% |
| EZPW Ezcorp | Q3 FY26 | $419M | +35% | 13.1% |
| SPH Suburban Propane Partners LP | Q3 FY26 | $261M | +0.5% | 0.9% |
| REAL TheRealReal | Q3 2026 | $206M | +19% | 0.7% |
| TMS Teamshares | Q2 2026 | $149M | +20% | 2.0% |
| LIVE Live Ventures | Q3 FY26 | $109M | -3% | 4.9% |
| PLBY Playboy | Q3 2026 | $31.7M | +9% | 12.6% |
Source: Winmark 10-Q on SEC EDGAR · CIK 908315 · Retail-Miscellaneous Retail
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History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results