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Winmark WINA Franchise — Deferred Revenue

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Other financials

Income statement

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Revenue$20.8M-4.9%
Gross profit$20.7M+6.5%
Operating income$12.4M-9.1%
Net income$9.3M-7.0%
EPS (diluted)$2.50-7.7%

Balance sheet

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Cash & equivalents$19.8M-9.2%
Total debt$32.9M-1.8%
Total equity-$46.2M-0.6%
Total assets$35.6M-4.0%

Cash flow

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Operating cash flow$11.9M-21.2%
CapEx$14.6K-71.5%
Free cash flow$11.9M-21.1%

Valuation

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Market cap$1.54B-1.9%
Enterprise value$1.55B-1.8%
P/E37.6×-0.6×
P/S18.1×-0.8×

Profitability

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Gross margin96.4%+0.5pp
Operating margin62.8%-2.6pp
Net margin48.2%-1.3pp
FCF margin48.9%-3.7pp

Returns & leverage

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Return on equity67.2%
Debt / equity0.6×
Current ratio2.7×+0.1×

Where this comes from

Reported directly by Winmark in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiability.

The official record: Winmark’s 10-K, filed February 25, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Winmark's franchise — deferred revenue?
Winmark (WINA) reported franchise — deferred revenue of $7.9M in Q4 2025.
How has Winmark's franchise — deferred revenue changed year-over-year?
Winmark's franchise — deferred revenue increased by 5.3% year-over-year, from $7.5M to $7.9M.
What does franchise — deferred revenue mean?
This metric represents the obligation to provide goods or services to a franchisee for which consideration has already been received or is due. It serves as a measure of deferred revenue, indicating future performance obligations that the franchisor must fulfill under its existing contracts. Tracking this liability provides insight into the pipeline of services owed to the franchise network and potential future revenue recognition.