WINMARK CORP (WINA)

Retail-Miscellaneous Retail

Latest Price

$299.47

TTM P/E

27.20

Normalized P/E

27.25

Div Yield

0.98%

Book Value

P/B Ratio

Valuation metrics

Norm. op. income: $53M (median of 7yr)

Tax rate: 22%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$105.12

65% downside

Base FCF: $44M (median of recent 5yr)

Growth: -2%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$115.13

62% downside

EPS: $11.30

Target P/E: 27×

Formula: EPS × P/E

P/E Fair Value

$305.10

+2% upside

89.1% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	489.8K	$207.0M	13.65%	+23.4K	2026-06-30
NEUBERGER BERMAN GROUP LLC	286.6K	$121.0M	7.99%	+1.9K	2026-06-30
RENAISSANCE TECHNOLOGIES LLC	204.4K	$86.0M	5.70%	-1.5K	2026-06-30
FIRST TRUST ADVISORS LP	175.5K	$74.0M	4.89%	+25.1K	2026-06-30
AltraVue Capital, LLC	172.4K	$72.0M	4.81%	+10.5K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	139.9K	$59.0M	3.90%	+2.1K	2026-06-30
STATE STREET CORP	130.4K	$55.0M	3.63%	+6.7K	2026-06-30
JACOBS LEVY EQUITY MANAGEMENT, INC	92.3K	$39.0M	2.57%	-4.1K	2026-06-30
Fisher Asset Management, LLC	92.2K	$39.0M	2.57%	-3.2K	2026-06-30
Port Capital LLC	86.8K	$36.0M	2.42%	-11.4K	2026-06-30