Filing Flows › Winmark (WINA) › Q3 2026
Winmark (WINA) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 14, 2026
Winmark (WINA) reported revenue of $27.9M for the third quarter 2026 (Q3 2026), +23% from a year earlier and +27% from the quarter before. Operating margin was 56.6%, net earnings $11.8M (42.4% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $27.9M | +27% | +23% |
| Operating profit | $15.8M | +16% | +6% |
| Net earnings | $11.8M | +14% | +6% |
| Operating cash flow | $12.9M | +21% | +6% |
| Free cash flow | $12.7M | +19% | +4% |
What changed
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.
Questions
What was Winmark's revenue in the third quarter 2026?
Winmark (WINA) reported revenue of $27.9M for the third quarter 2026 (Q3 2026), +23% from a year earlier and +27% from the quarter before.
Was Winmark profitable in the third quarter 2026?
Operating profit was $15.8M (56.6% of revenue) and net earnings $11.8M.
Source: Winmark 10-Q on SEC EDGAR.