Filing Flows › Winmark (WINA) › Q2 2026 › vs Q2 2025
Winmark (WINA) Q2 2026 vs Q2 2025 (year over year)
Winmark's revenue rose $1.5M (+8%) from $20.4M in Q2 2025 to $22.0M in Q2 2026. The biggest changes: Royalties +$1.5M (+8%); Franchise fees +$81K (+24%); Merchandise sales +$56K (+7%). Operating margin 62.1% against 64.0% (-1.9 pts).
Winmark, Q2 2026: revenue $22.0M (+8% year over year), operating margin 62.1%, net earnings $10.4M, operating cash flow $10.7M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 62.1% | 64.0% | -1.9 pts |
| Net margin | 47.3% | 51.9% | -4.6 pts |
| Free cash flow margin | 48.7% | 44.0% | +4.6 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Royalties | $20.1M | $18.7M | $1.5M | +8% |
| Merchandise sales | $859K | $804K | $56K | +7% |
| Other | $570K | $566K | $4K | +0.7% |
| Franchise fees | $420K | $338K | $81K | +24% |
| Revenue | $22.0M | $20.4M | $1.5M | +8% |
| Operating profit | $13.6M | $13.1M | $580K | +4% |
| Costs & expenses | $8.3M | $7.4M | $969K | +13% |
| Pre-tax earnings | $13.2M | $12.7M | $481K | +4% |
| Other expense, net | $454K | $355K | $99K | +28% |
| SG&A | $7.5M | $6.6M | $917K | +14% |
| Other operating costs | $818K | $766K | $52K | +7% |
| Net earnings | $10.4M | $10.6M | −$206K | -2% |
| Income tax | $2.8M | $2.1M | $687K | +33% |
| Depreciation & amortization | $181K | $188K | −$7K | -4% |
| Share-based compensation | $614K | $529K | $85K | +16% |
| Working capital & other | $460K | $2.3M | −$1.8M | -80% |
| Operating cash flow | $10.7M | $9.0M | $1.7M | +19% |
| Free cash flow (OCF − capex) | $10.7M | $9.0M | $1.7M | +19% |
| Capital expenditures | $40K | $55K | −$14K | -26% |
Questions
How much did Winmark's revenue grow year over year in Q2 2026?
Winmark's revenue rose $1.5M (+8%) from $20.4M in Q2 2025 to $22.0M in Q2 2026.
What drove Winmark's revenue change in Q2 2026?
Royalties +$1.5M (+8%); Franchise fees +$81K (+24%); Merchandise sales +$56K (+7%).