Filing Flows › Winmark (WINA) › Q3 2026 › vs Q3 2025
Winmark (WINA) Q3 2026 vs Q3 2025 (year over year)
Winmark's revenue rose $5.3M (+23%) from $22.6M in Q3 2025 to $27.9M in Q3 2026. The biggest changes: Royalties +$796K (+4%); Software +$404K (+434%); Merchandise sales +$338K (+49%). Operating margin 56.6% against 65.9% (-9.3 pts).
Winmark, Q3 2026: revenue $27.9M (+23% year over year), operating margin 56.6%, net earnings $11.8M, operating cash flow $12.9M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 56.6% | 65.9% | -9.3 pts |
| Net margin | 42.4% | 49.2% | -6.8 pts |
| Free cash flow margin | 45.6% | 53.8% | -8.2 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Royalties | $21.7M | $20.9M | $796K | +4% |
| Merchandise sales | $1.0M | $694K | $338K | +49% |
| Other | $499K | $471K | $28K | +6% |
| Software | $497K | $93K | $404K | +434% |
| Franchise fees | $330K | $418K | −$88K | -21% |
| Revenue | $27.9M | $22.6M | $5.3M | +23% |
| Operating profit | $15.8M | $14.9M | $863K | +6% |
| Costs & expenses | $12.1M | $7.7M | $4.4M | +57% |
| Pre-tax earnings | $15.4M | $14.6M | $794K | +5% |
| Other expense, net | $368K | $300K | $68K | +23% |
| SG&A | $7.3M | $7.0M | $286K | +4% |
| Other operating costs | $4.8M | $663K | $4.1M | +620% |
| Net earnings | $11.8M | $11.1M | $682K | +6% |
| Income tax | $3.6M | $3.5M | $113K | +3% |
| Depreciation & amortization | $182K | $188K | −$6K | -3% |
| Share-based compensation | $689K | $601K | $88K | +15% |
| Working capital & other | $252K | $325K | −$73K | -22% |
| Operating cash flow | $12.9M | $12.3M | $691K | +6% |
| Free cash flow (OCF − capex) | $12.7M | $12.2M | $536K | +4% |
| Capital expenditures | $222K | $67K | $155K | +232% |
Questions
How much did Winmark's revenue grow year over year in Q3 2026?
Winmark's revenue rose $5.3M (+23%) from $22.6M in Q3 2025 to $27.9M in Q3 2026.
What drove Winmark's revenue change in Q3 2026?
Royalties +$796K (+4%); Software +$404K (+434%); Merchandise sales +$338K (+49%).