WINMARK CORPORATION
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $86.1M | $81.3M | $83.2M | $81.4M | $78.2M | $66.1M | $73.3M | $72.5M |
| Cost of Revenue | $3.1M | $3.4M | $4.5M | $3.7M | $2.9M | $2.1M | $2.5M | $2.7M |
| Gross Profit | $83.0M | $77.9M | $78.8M | $77.7M | $75.3M | $64.0M | $70.8M | $69.8M |
| Gross Margin | 96.4% | 95.8% | 94.6% | 95.4% | 96.2% | 96.8% | 96.6% | 96.2% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $28.4M | $24.9M | $25.1M | $23.2M | $22.3M | $21.2M | $25.7M | $26.0M |
| Operating Income | $54.6M | $52.9M | $53.3M | $53.6M | $51.3M | $40.2M | $43.1M | $41.8M |
| Operating Margin | 63.4% | 65.1% | 64.0% | 65.9% | 65.6% | 60.9% | 58.8% | 57.6% |
| Interest Expense | — | — | $3.1M | $2.9M | $1.5M | $1.7M | $1.7M | $2.4M |
| Pretax Income | $53.1M | $51.2M | $51.4M | $50.8M | $49.9M | $38.5M | $41.5M | $39.3M |
| Income Tax Expense | $11.5M | $11.3M | $11.2M | $11.4M | $9.9M | $8.7M | $9.3M | $9.2M |
| Net Income | $41.7M | $40.0M | $40.2M | $39.4M | $39.9M | $29.8M | $32.1M | $30.1M |
| Net Margin | 48.4% | 49.2% | 48.3% | 48.4% | 51.0% | 45.1% | 43.9% | 41.5% |
| EPS (Basic) | $11.73 | $11.36 | $11.55 | $11.30 | $10.87 | $8.02 | $8.37 | $7.77 |
| EPS (Diluted) | $11.30 | $10.89 | $11.04 | $10.97 | $10.48 | $7.72 | $7.84 | $7.26 |
| Shares Outstanding (Basic) | 3.5M | 3.5M | 3.5M | 3.5M | 3.7M | 3.7M | 3.8M | 3.9M |
| Shares Outstanding (Diluted) | 3.7M | 3.7M | 3.6M | 3.6M | 3.8M | 3.9M | 4.1M | 4.1M |
| Dividends Per Share | — | — | $3.10 | $2.55 | $1.60 | $0.80 | $0.90 | $0.56 |