$281.00

-1.29 (-0.46%)

Weekly Expected Move ±6.7%

$242 $261 $280 $299 $317

NASDAQ · Consumer Cyclical · Specialty Retail · Tech Score Sell · Power 37 · $1.0B mcap · 3M float · 2.45% daily turnover · Short 58% of daily vol

Credit Risk of going bust: lower than 80% of companies Debt: 5.8% of company value Bonds: none of note held by US funds details ▾

Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $1.38 (down 99.5%), Winmark Corporation would be worth roughly what it owes.
Total debt $62.5M against a stock market value of $1.01B.
Distance to default 9.52 (Merton model): prices to 2026-10-27, balance sheet 2026-09-26, debt counted $30.0M (short-term plus half of long-term), stock volatility 38.0%; Altman Z'' 7.27. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

NARROW EDGE

64.1 / 100

NoneWeakNarrowWide

Primary source: Cost Advantage · ROIC: -1520.1%

Cost Advantage ★

Intangibles

Switching Cost

Network Effect

Scale

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. WINA has a Narrow competitive edge (64.1/100) — meaningful but not impregnable advantages over competitors. The primary source of advantage is Cost Advantage. Negative ROIC of -1520.1% indicates the company is currently destroying value, though this may reflect a growth investment phase.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

Analyst Recommendations

Rating Summary

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2024-06-13	Maxim Group	Thomas Forte	Initiated	$445	—	+25.1%	$355.70

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

C+

Oct 27, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. WINA receives an overall rating of C+. Strongest factors: ROA (5/5). Areas of concern: ROE (1/5), D/E (1/5), P/E (2/5), P/B (1/5).

Rating Change History

Date	From	To
2026-04-01	C	C+
2026-03-02	C+	C

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 68 Grade A

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

100

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. WINA scores highest in Safety (100/100) and lowest in Value (53/100). An overall grade of A places WINA among the highest-quality companies in its peer group.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

13.02

Safe Zone

Piotroski F-Score

6/9

✓ ✓ ✓ ✓ ✗ ✗ ✓ ✗ ✓

Beneish M-Score

-2.18

Unlikely Manipulator

Ohlson O-Score

-3.02

Bankruptcy prob: 4.6%

Low Risk

Credit Rating

B-

Score: 20.0/100

Trend: Stable

Earnings Quality

75/100

OCF/NI: 1.06x

Accruals: -5.4%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. WINA scores 13.02, placing it in the Safe Zone (safe > 2.99, distress < 1.81). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. WINA scores 6/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. WINA's score of -2.18 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. WINA's implied 4.6% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. WINA receives an estimated rating of B- (score: 20.0/100), with a stable trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). WINA's score of 75/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

24.29x

PEG

-35.37x

P/S

11.00x

P/B

-26.96x

P/FCF

24.96x

P/OCF

24.78x

EV/EBITDA

19.86x

EV/Revenue

12.28x

EV/EBIT

20.28x

EV/FCF

25.75x

Earnings Yield

3.79%

FCF Yield

4.01%

Shareholder Yield

5.31%

Graham Number

—

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 24.3x earnings, WINA commands a growth premium.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.781

NI / EBT

Interest Burden

0.954

EBT / EBIT

EBIT Margin

0.605

EBIT / Rev

Asset Turnover

1.858

Rev / Assets

Equity Multiplier

-1.550

Assets / Equity

ROE

-129.9%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. WINA's ROE of -129.9% is driven by Asset Turnover (1.858), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

0.34%

Fair P/E

9.17x

Intrinsic Value

$103.02

Price/Value

2.88x

Margin of Safety

-187.66%

Premium

187.66%

Assessment

Neutral

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with WINA's realized 0.3% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. WINA trades at a 188% premium to its adjusted intrinsic value of $103.02, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 9.2x compares to the current market P/E of 24.3x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$281.00

Median 1Y

$293.58

5th Pctile

$170.22

95th Pctile

$506.03

Ann. Volatility

33.8%

25th–75th percentile 5th–95th percentile Median path Historical

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Brett D. Heffes Chief Executive Officer and Chair of the Board of Directors	$700,000	$—	$2,108,124
Anthony D. Ishaug Chief Financial Officer and Treasurer	$442,500	$—	$1,395,529
Renae M. Gaudette Chief Operating Officer	$340,000	$—	$1,025,320
Lisa S. Hake Chief Marketing Officer	$78,750	$—	$360,934

CEO Pay Ratio

6:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $2,108,124

Avg Employee Cost (SGA/emp): $325,947

Employees: 87

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

-2.2% YoY

Revenue / Employee

$989,146

Rev: $86,055,700

Profit / Employee

$478,783

NI: $41,654,100

SGA / Employee

$325,947

Avg labor cost proxy

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
ROE	-1.6%	-1.0%	-99.5%	-1.1%	-78.3%	-64.3%	-70.9%	-85.6%	-66.5%	-75.1%	-93.5%	-1.2%	-72.5%	-83.4%	-1.0%	-1.4%	-79.5%	-88.9%	-1.1%	-1.3%	-1.30%
ROA	1.4%	1.8%	1.5%	92.1%	1.4%	1.4%	1.1%	91.0%	1.4%	1.0%	86.9%	74.6%	1.4%	1.1%	93.9%	78.1%	1.6%	1.1%	94.3%	83.8%	83.83%
ROIC	-42.7%	-11.0%	69.3%	84.0%	21.0%	-17.4%	-50.3%	-33.9%	219.6%	-10.6%	-33.2%	-23.3%	-206.1%	-8.7%	-14.7%	-12.0%	66.2%	-11.0%	-29.4%	-15.2%	-15.20%
ROCE	3.0%	19.9%	3.6%	2.4%	2.7%	2.0%	1.5%	1.3%	2.9%	2.2%	1.6%	1.3%	2.5%	2.0%	1.5%	1.2%	2.9%	3.1%	1.6%	1.6%	1.60%
Gross Margin	92.7%	94.6%	93.3%	94.8%	94.1%	92.7%	93.6%	95.8%	94.5%	94.7%	95.7%	96.9%	95.8%	95.9%	96.2%	97.1%	96.3%	97.0%	96.3%	82.9%	82.89%
Operating Margin	63.4%	67.0%	64.8%	68.1%	63.4%	60.4%	65.1%	67.8%	62.5%	60.8%	64.7%	69.4%	65.3%	62.0%	64.0%	65.9%	61.7%	59.3%	62.1%	56.6%	56.60%
Net Margin	56.9%	49.1%	47.3%	49.0%	48.2%	43.6%	50.9%	50.0%	48.5%	43.9%	51.8%	51.7%	49.0%	45.4%	51.9%	49.2%	47.2%	44.4%	47.2%	42.4%	42.37%
EBITDA Margin	64.3%	67.8%	65.7%	69.3%	65.1%	62.2%	67.8%	70.7%	63.9%	62.1%	66.1%	72.5%	68.2%	63.9%	65.7%	68.5%	65.1%	61.2%	63.9%	58.1%	58.12%
FCF Margin	61.4%	60.2%	55.1%	54.2%	49.3%	49.6%	53.4%	52.7%	52.4%	52.0%	50.8%	51.6%	51.4%	52.4%	53.2%	52.6%	51.9%	48.9%	50.0%	47.7%	47.67%
OCF Margin	61.8%	60.4%	59.8%	58.9%	53.8%	54.1%	53.6%	53.1%	52.9%	52.5%	51.4%	51.9%	51.9%	52.8%	53.6%	53.0%	52.2%	49.1%	50.1%	48.0%	48.01%
ROA 3Y Avg	snapshot only																				81.97%
ROIC Economic	snapshot only																				1.84%
Cash ROA	snapshot only																				97.86%
NOPAT Margin	snapshot only																				46.66%
Pretax Margin	snapshot only																				57.72%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				32.68%
SBC / Revenue	snapshot only																				2.76%

Valuation

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
P/E Ratio	20.84	18.58	15.96	17.03	19.43	27.39	27.84	30.87	36.02	31.21	30.42	33.44	34.92	27.32	32.46	43.83	36.47	37.81	38.01	26.38	24.287
P/S Ratio	10.64	9.45	8.12	8.62	9.41	12.88	13.34	14.87	17.38	15.09	14.78	16.39	17.17	13.51	16.06	21.40	17.65	18.22	17.89	11.90	10.997
P/B Ratio	-21.29	-11.43	-9.41	-11.50	-12.43	-19.52	-25.44	-36.29	-24.46	-23.77	-28.90	-39.73	-27.34	-24.43	-36.36	-68.67	-28.29	-33.51	-41.14	-29.21	-26.962
P/FCF	17.31	15.70	14.75	15.90	19.10	25.96	25.00	28.21	33.18	29.04	29.09	31.79	33.41	25.79	30.17	40.68	33.98	37.28	35.81	24.96	24.960
P/OCF	17.21	15.63	13.60	14.64	17.50	23.81	24.89	27.99	32.89	28.73	28.76	31.57	33.10	25.59	29.97	40.35	33.83	37.14	35.68	24.78	24.784
EV/EBITDA	16.72	15.42	13.47	14.03	15.21	20.59	20.95	22.95	27.32	23.67	23.20	25.33	26.43	20.68	24.36	32.55	27.76	28.71	28.27	19.86	19.862
EV/Revenue	11.12	10.22	8.99	9.38	10.19	13.51	13.85	15.27	18.10	15.68	15.27	16.78	17.79	14.00	16.47	21.67	18.28	18.72	18.31	12.28	12.276
EV/EBIT	16.95	15.62	13.65	14.23	15.45	20.97	21.35	23.39	27.85	24.14	23.68	25.86	26.98	21.10	24.77	33.09	28.30	29.29	28.93	20.28	20.283
EV/FCF	18.10	16.99	16.34	17.29	20.69	27.23	25.96	28.96	34.54	30.17	30.07	32.55	34.62	26.74	30.94	41.20	35.19	38.30	36.65	25.75	25.750
Earnings Yield	4.8%	5.4%	6.3%	5.9%	5.1%	3.7%	3.6%	3.2%	2.8%	3.2%	3.3%	3.0%	2.9%	3.7%	3.1%	2.3%	2.7%	2.6%	2.6%	3.8%	3.79%
FCF Yield	5.8%	6.4%	6.8%	6.3%	5.2%	3.9%	4.0%	3.5%	3.0%	3.4%	3.4%	3.1%	3.0%	3.9%	3.3%	2.5%	2.9%	2.7%	2.8%	4.0%	4.01%
EV/OCF	snapshot only																				25.568
EV/Gross Profit	snapshot only																				13.289
Acquirers Multiple	snapshot only																				20.562
Shareholder Yield	snapshot only																				5.31%

Leverage & Solvency

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Current Ratio	1.75	0.47	1.16	1.82	1.71	2.09	3.04	3.77	1.60	1.83	2.88	3.84	3.02	2.66	4.60	5.95	2.49	1.41	3.75	3.20	3.195
Quick Ratio	1.71	0.43	1.11	1.77	1.64	2.06	3.00	3.74	1.56	1.80	2.85	3.80	2.94	2.62	4.54	5.92	2.42	1.39	3.67	3.12	3.118
Debt/Equity	-1.34	-0.99	-1.16	-1.30	-1.26	-1.41	-1.72	-2.14	-1.23	-1.36	-1.67	-2.05	-1.23	-1.37	-1.70	-2.37	-1.21	-1.35	-1.65	-1.67	-1.672
Net Debt/Equity	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Debt/Assets	1.95	4.25	2.96	2.34	2.55	1.92	1.58	1.33	2.51	1.87	1.57	1.33	2.35	1.70	1.45	1.16	2.60	1.77	1.44	1.39	1.389
Debt/EBITDA	1.01	1.23	1.50	1.46	1.42	1.42	1.37	1.32	1.32	1.30	1.29	1.28	1.15	1.12	1.11	1.11	1.14	1.12	1.11	1.10	1.102
Net Debt/EBITDA	0.73	1.17	1.30	1.13	1.17	0.96	0.78	0.59	1.08	0.89	0.75	0.59	0.93	0.73	0.60	0.41	0.96	0.76	0.65	0.61	0.610
Interest Coverage	34.67	31.09	25.02	20.62	18.33	16.42	16.52	17.15	17.50	17.75	17.91	18.21	18.77	20.18	21.15	21.90	22.72	22.20	22.34	22.67	22.666
Equity Multiplier	-0.69	-0.23	-0.39	-0.56	-0.49	-0.74	-1.09	-1.61	-0.49	-0.73	-1.06	-1.54	-0.53	-0.81	-1.17	-2.04	-0.46	-0.76	-1.15	-1.20	-1.204
Cash Ratio	snapshot only																				2.740
Debt Service Coverage	snapshot only																				23.147
Cash to Debt	snapshot only																				0.447
FCF to Debt	snapshot only																				0.700
Defensive Interval	snapshot only																				367.7 days

Efficiency & Turnover

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Asset Turnover	2.69	3.46	2.95	1.82	2.84	2.98	2.23	1.89	2.80	2.12	1.79	1.52	2.91	2.20	1.90	1.60	3.33	2.36	2.00	1.86	1.858
Inventory Turnover	22.19	16.34	10.47	9.43	8.57	11.30	9.81	10.78	8.40	10.61	11.16	10.12	8.72	8.51	9.94	8.64	8.17	7.46	5.67	13.04	13.041
Receivables Turnover	97.09	44.60	63.77	53.27	934.15	53.61	57.08	50.53	497.57	50.65	51.55	49.47	623.62	38.88	50.25	51.93	110.71	37.04	48.73	47.00	46.998
Payables Turnover	2.48	2.99	2.92	2.53	2.23	3.07	2.92	2.78	2.53	3.23	2.56	2.25	2.08	2.27	2.35	2.11	1.92	2.18	1.75	4.38	4.375
DSO	4	8	6	7	0	7	6	7	1	7	7	7	1	9	7	7	3	10	7	8	7.8 days
DIO	16	22	35	39	43	32	37	34	43	34	33	36	42	43	37	42	45	49	64	28	28.0 days
DPO	147	122	125	144	164	119	125	131	144	113	143	162	175	161	155	173	190	167	209	83	83.4 days
Cash Conversion Cycle	-127	-92	-85	-99	-121	-80	-81	-90	-100	-71	-103	-119	-133	-108	-111	-124	-142	-109	-137	-48	-47.7 days
Fixed Asset Turnover	snapshot only																				34.039
Operating Cycle	snapshot only																				35.8 days
Cash Velocity	snapshot only																				3.283
Capital Intensity	snapshot only																				0.491

Growth (YoY)

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Revenue	18.4%	20.4%	9.5%	8.1%	4.1%	2.9%	4.4%	4.5%	2.3%	1.2%	-0.7%	-3.0%	-2.3%	0.3%	1.0%	3.3%	5.9%	2.3%	3.8%	8.6%	8.61%
Net Income	33.9%	27.2%	13.6%	12.1%	-1.2%	-4.8%	-1.7%	-0.5%	1.9%	4.0%	0.7%	-1.4%	-0.6%	2.6%	2.9%	3.0%	4.3%	-0.3%	-1.3%	0.3%	0.31%
EPS	38.3%	32.6%	22.3%	19.8%	4.3%	-1.6%	-3.8%	-3.6%	-1.5%	2.1%	0.0%	-1.8%	-0.2%	2.3%	2.4%	2.4%	3.3%	-1.3%	-2.1%	0.5%	0.52%
FCF	23.0%	20.0%	5.6%	-3.6%	-16.5%	-15.2%	1.2%	1.6%	8.7%	5.9%	-5.5%	-5.2%	-4.2%	1.1%	5.8%	5.4%	7.0%	-4.5%	-2.6%	-1.6%	-1.58%
EBITDA	26.6%	21.3%	9.0%	7.6%	4.9%	1.8%	3.4%	4.1%	1.1%	2.1%	-1.2%	-3.4%	-0.8%	2.5%	3.7%	3.9%	3.6%	-1.5%	-0.6%	0.8%	0.80%
Op. Income	27.7%	21.9%	9.2%	7.6%	4.4%	0.9%	1.8%	1.9%	-0.6%	1.0%	-1.1%	-2.7%	-0.7%	2.3%	2.8%	3.2%	3.1%	-1.7%	-0.8%	0.8%	0.84%
OCF Growth	snapshot only																				-1.70%
Asset Growth	snapshot only																				-16.21%
Debt Growth	snapshot only																				-0.01%
Shares Change	snapshot only																				-0.20%
Dividend Growth	snapshot only																				25.80%

Growth (CAGR)

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Revenue 3Y	2.6%	3.1%	3.5%	3.6%	3.6%	3.6%	6.7%	7.9%	8.0%	7.8%	4.3%	3.1%	1.3%	1.4%	1.5%	1.6%	1.9%	1.2%	1.3%	2.9%	2.87%
Revenue 5Y	3.3%	3.2%	3.1%	3.1%	3.1%	3.1%	3.0%	2.9%	2.8%	2.6%	2.8%	2.4%	2.1%	2.5%	4.0%	4.7%	5.4%	5.1%	3.5%	4.2%	4.22%
EPS 3Y	13.8%	14.5%	14.9%	14.4%	11.9%	9.2%	11.7%	12.4%	12.4%	10.0%	5.6%	4.3%	0.8%	0.9%	-0.5%	-1.0%	0.5%	1.0%	0.1%	0.3%	0.34%
EPS 5Y	15.8%	15.9%	17.0%	16.6%	13.1%	11.2%	10.4%	9.0%	8.6%	8.6%	7.9%	7.2%	6.6%	6.3%	7.4%	7.4%	7.9%	6.1%	3.4%	3.1%	3.13%
Net Income 3Y	9.8%	10.0%	9.8%	9.2%	7.0%	6.2%	10.0%	10.4%	10.4%	8.0%	4.0%	3.2%	0.0%	0.5%	0.6%	0.4%	1.9%	2.1%	0.7%	0.6%	0.63%
Net Income 5Y	12.4%	11.8%	11.7%	12.1%	9.9%	8.2%	7.6%	6.2%	5.9%	5.6%	5.6%	5.0%	4.4%	5.0%	6.6%	6.5%	6.9%	5.2%	2.7%	2.6%	2.60%
EBITDA 3Y	7.3%	7.8%	8.1%	7.8%	7.5%	6.9%	10.4%	10.9%	10.3%	8.0%	3.7%	2.7%	1.7%	2.1%	2.0%	1.5%	1.3%	1.0%	0.6%	0.4%	0.37%
EBITDA 5Y	6.1%	5.8%	6.2%	6.8%	7.0%	6.1%	6.0%	5.7%	5.6%	5.4%	5.3%	4.7%	4.5%	5.0%	6.6%	6.5%	6.6%	5.0%	2.8%	2.5%	2.53%
Gross Profit 3Y	2.7%	3.2%	3.5%	3.5%	3.7%	4.0%	7.2%	8.5%	8.5%	7.8%	4.6%	3.4%	2.0%	2.3%	2.4%	2.4%	2.6%	2.3%	2.3%	2.2%	2.25%
Gross Profit 5Y	3.4%	3.4%	3.3%	3.4%	3.7%	3.3%	3.2%	3.1%	2.9%	2.9%	3.1%	2.7%	2.5%	3.2%	4.8%	5.6%	6.2%	5.6%	4.0%	3.7%	3.70%
Op. Income 3Y	7.1%	7.7%	8.1%	7.8%	7.5%	6.8%	10.2%	10.4%	9.8%	7.5%	3.2%	2.2%	1.0%	1.4%	1.2%	0.8%	0.6%	0.5%	0.3%	0.4%	0.39%
Op. Income 5Y	6.0%	5.8%	6.0%	6.6%	6.7%	5.8%	5.6%	5.1%	5.0%	4.9%	5.0%	4.5%	4.2%	4.7%	6.3%	6.2%	6.3%	4.5%	2.3%	2.1%	2.11%
FCF 3Y	62.8%	34.9%	22.6%	8.5%	-1.1%	-0.9%	0.2%	3.5%	3.7%	2.5%	0.4%	-2.4%	-4.6%	-3.1%	0.4%	0.5%	3.7%	0.7%	-0.9%	-0.5%	-0.53%
FCF 5Y	—	—	—	—	—	76.0%	54.4%	46.1%	31.4%	17.1%	12.0%	4.3%	0.1%	0.8%	0.1%	2.1%	2.7%	0.8%	0.8%	-0.7%	-0.72%
OCF 3Y	11.4%	7.4%	5.7%	1.5%	-4.7%	-4.5%	-3.9%	0.3%	0.6%	0.8%	-0.5%	-3.0%	-4.5%	-3.0%	-2.1%	-1.9%	0.8%	-2.0%	-0.9%	-0.6%	-0.56%
OCF 5Y	13.5%	15.1%	12.9%	13.7%	11.7%	10.6%	8.1%	6.0%	4.7%	2.3%	1.1%	-1.3%	-3.6%	-2.9%	-2.3%	0.2%	0.8%	-0.4%	0.1%	-1.1%	-1.07%
Assets 3Y	-16.8%	-31.2%	-16.3%	-11.4%	-21.0%	-12.8%	14.6%	15.7%	-2.6%	7.7%	18.3%	-1.9%	-0.1%	34.4%	16.9%	16.8%	-6.5%	-4.1%	-3.2%	-6.8%	-6.75%
Assets 5Y	-11.2%	-20.3%	-10.5%	-6.5%	-8.9%	-3.6%	-0.5%	1.9%	-9.1%	-3.9%	-0.6%	1.4%	-15.4%	-9.2%	6.4%	8.4%	-4.5%	2.7%	9.8%	-3.9%	-3.91%
Equity 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Book Value 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Dividend 3Y	37.4%	39.0%	36.0%	35.2%	-12.8%	-13.6%	-14.9%	-14.7%	33.7%	32.5%	31.6%	30.4%	-3.1%	-3.4%	-4.9%	-5.3%	6.7%	6.8%	7.3%	7.6%	7.57%

Growth Quality

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Revenue Stability	0.31	0.26	0.59	0.50	0.46	0.44	0.65	0.56	0.56	0.54	0.84	0.81	0.82	0.90	0.81	0.76	0.79	0.78	0.83	0.83	0.833
Earnings Stability	0.84	0.90	0.93	0.88	0.82	0.85	0.90	0.85	0.75	0.78	0.82	0.78	0.64	0.72	0.72	0.67	0.55	0.55	0.53	0.54	0.540
Margin Stability	1.00	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.98	0.98	0.99	0.99	0.99	0.98	0.984
Rev. Growth Consistency	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	1.00	0.50	0.50	0.50	1.00	1.00	1.00	1.000
Earn. Growth Consistency	0.50	0.50	1.00	1.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.00	0.00	1.00	1.00	0.50	0.50	0.00	0.00	1.00	1.000
FCF Positive Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Earnings Persistence	0.86	0.89	0.95	0.95	1.00	0.98	0.99	1.00	0.99	0.98	1.00	0.99	1.00	0.99	0.99	0.99	0.98	1.00	0.99	1.00	0.999
Earnings Smoothness	0.71	0.76	0.87	0.89	0.99	0.95	0.98	1.00	0.98	0.96	0.99	0.99	0.99	0.97	0.97	0.97	0.96	1.00	0.99	1.00	0.997
ROE Trend	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Gross Margin Trend	0.01	0.00	0.00	0.00	0.01	-0.00	-0.00	-0.00	0.00	0.01	0.01	0.01	0.02	0.02	0.02	0.02	0.01	0.01	0.01	-0.04	-0.035
FCF Margin Trend	0.04	0.02	-0.06	-0.06	-0.11	-0.11	-0.03	-0.05	-0.03	-0.03	-0.03	-0.02	0.01	0.02	0.01	0.00	0.00	-0.03	-0.02	-0.04	-0.044
Sustainable Growth Rate	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Internal Growth Rate	30.2%	40.4%	28.1%	14.0%	2.4%	2.0%	1.1%	80.0%	—	—	—	—	4.1%	5.1%	4.2%	3.0%	—	—	—	—	—

Cash Flow Quality

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
OCF/Net Income	1.21	1.19	1.17	1.16	1.11	1.15	1.12	1.10	1.09	1.09	1.06	1.06	1.06	1.07	1.08	1.09	1.08	1.02	1.07	1.06	1.064
FCF/OCF	0.99	1.00	0.92	0.92	0.92	0.92	1.00	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	1.00	1.00	1.00	0.99	0.993
FCF/Net Income	snapshot only																				1.057
OCF/EBITDA	snapshot only																				0.777
CapEx/Revenue	0.4%	0.3%	4.7%	4.7%	4.5%	4.5%	0.2%	0.4%	0.5%	0.6%	0.6%	0.4%	0.5%	0.4%	0.4%	0.4%	0.2%	0.2%	0.2%	0.3%	0.34%
CapEx/Depreciation	snapshot only																				0.264
Accruals Ratio	-0.29	-0.33	-0.26	-0.15	-0.15	-0.21	-0.13	-0.09	-0.13	-0.09	-0.05	-0.04	-0.08	-0.07	-0.08	-0.07	-0.13	-0.02	-0.06	-0.05	-0.054
Sloan Accruals	snapshot only																				-0.296
Cash Flow Adequacy	snapshot only																				0.878
Earnings Quality Score	snapshot only																				0.750

Dividends & Buybacks

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Dividend Yield	4.0%	4.5%	5.4%	5.1%	2.5%	1.9%	1.8%	1.7%	3.0%	3.5%	3.6%	3.3%	2.8%	3.5%	2.9%	2.2%	3.2%	3.2%	3.2%	4.6%	4.97%
Dividend/Share	$8.83	$9.11	$9.73	$9.99	$5.42	$5.58	$5.62	$5.69	$11.87	$12.03	$12.14	$12.20	$10.60	$10.69	$10.75	$10.76	$13.26	$13.31	$13.40	$13.53	$13.96
Payout Ratio	83.1%	83.7%	85.4%	86.7%	48.8%	52.1%	51.2%	51.2%	1.1%	1.1%	1.1%	1.1%	97.3%	95.5%	95.7%	96.2%	1.2%	1.2%	1.2%	1.2%	1.20%
FCF Payout Ratio	69.0%	70.7%	78.9%	80.9%	48.0%	49.4%	46.0%	46.8%	1.0%	1.0%	1.1%	1.1%	93.1%	90.2%	89.0%	89.3%	1.1%	1.2%	1.1%	1.1%	1.14%
Total Payout Ratio	1.9%	2.6%	2.7%	2.4%	1.7%	84.6%	54.4%	53.2%	1.1%	1.1%	1.1%	1.1%	97.3%	1.0%	1.0%	1.0%	1.2%	1.2%	1.2%	1.4%	1.40%
Div. Increase Streak	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Chowder Number	1.37	1.42	1.25	1.20	-0.39	-0.39	-0.39	-0.40	1.30	1.23	1.21	1.19	-0.08	-0.07	-0.08	-0.09	0.30	0.29	0.29	0.30	0.301
Buyback Yield	5.3%	9.4%	11.3%	9.3%	6.4%	1.2%	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.2%	0.2%	0.1%	0.2%	0.0%	0.0%	0.7%	0.74%
Net Buyback Yield	5.3%	9.4%	11.3%	9.3%	6.4%	1.1%	-0.2%	-0.2%	-0.3%	-0.3%	-0.3%	-0.3%	-0.4%	-0.2%	-0.1%	-0.2%	-0.2%	-0.4%	-0.4%	0.3%	0.31%
Total Shareholder Return	9.3%	13.9%	16.7%	14.4%	8.9%	3.0%	1.7%	1.5%	2.7%	3.2%	3.3%	3.1%	2.4%	3.3%	2.8%	2.0%	3.1%	2.8%	2.8%	4.9%	4.88%

DuPont Factors

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Tax Burden (NI/EBT)	0.80	0.80	0.80	0.81	0.78	0.78	0.79	0.78	0.78	0.78	0.78	0.79	0.78	0.78	0.78	0.78	0.78	0.79	0.78	0.78	0.781
Interest Burden (EBT/EBIT)	0.97	0.97	0.96	0.95	0.95	0.94	0.94	0.94	0.95	0.95	0.96	0.96	0.96	0.96	0.95	0.95	0.96	0.95	0.95	0.95	0.954
EBIT Margin	0.66	0.65	0.66	0.66	0.66	0.64	0.65	0.65	0.65	0.65	0.64	0.65	0.66	0.66	0.66	0.65	0.65	0.64	0.63	0.61	0.605
Asset Turnover	2.69	3.46	2.95	1.82	2.84	2.98	2.23	1.89	2.80	2.12	1.79	1.52	2.91	2.20	1.90	1.60	3.33	2.36	2.00	1.86	1.858
Equity Multiplier	-1.15	-0.59	-0.66	-1.21	-0.57	-0.46	-0.66	-0.94	-0.49	-0.73	-1.08	-1.57	-0.51	-0.77	-1.11	-1.76	-0.49	-0.78	-1.16	-1.55	-1.550

Per Share

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
EPS (Diluted TTM)	$10.63	$10.89	$11.39	$11.53	$11.09	$10.72	$10.97	$11.12	$10.92	$10.94	$10.97	$10.92	$10.89	$11.19	$11.23	$11.18	$11.25	$11.04	$11.00	$11.23	$11.23
Book Value/Share	$-10.41	$-17.70	$-19.32	$-17.07	$-17.33	$-15.04	$-12.00	$-9.46	$-16.08	$-14.36	$-11.54	$-9.19	$-13.92	$-12.51	$-10.03	$-7.13	$-14.50	$-12.46	$-10.16	$-10.15	$-10.42
Tangible Book/Share	$-10.57	$-17.86	$-20.49	$-18.21	$-18.44	$-16.11	$-13.04	$-10.47	$-17.06	$-15.32	$-12.48	$-10.10	$-14.80	$-13.37	$-10.87	$-7.94	$-15.28	$-13.22	$-11.50	$-11.48	$-11.48
Revenue/Share	$20.84	$21.42	$22.38	$22.78	$22.89	$22.78	$22.88	$23.08	$22.62	$22.62	$22.58	$22.28	$22.16	$22.62	$22.70	$22.88	$23.24	$22.92	$23.38	$24.91	$25.58
FCF/Share	$12.80	$12.89	$12.32	$12.35	$11.28	$11.30	$12.21	$12.17	$11.85	$11.76	$11.47	$11.49	$11.39	$11.85	$12.09	$12.04	$12.07	$11.20	$11.68	$11.87	$12.20
OCF/Share	$12.88	$12.95	$13.37	$13.42	$12.31	$12.32	$12.26	$12.27	$11.96	$11.88	$11.60	$11.57	$11.50	$11.94	$12.17	$12.14	$12.13	$11.24	$11.72	$11.96	$12.28
Cash/Share	$3.81	$0.78	$2.97	$5.03	$3.93	$6.87	$8.92	$11.13	$3.65	$6.26	$8.04	$10.13	$3.32	$5.94	$7.83	$10.76	$2.83	$5.35	$6.98	$7.59	$7.79
EBITDA/Share	$13.86	$14.21	$14.94	$15.22	$15.34	$14.95	$15.13	$15.35	$14.99	$14.98	$14.86	$14.76	$14.92	$15.32	$15.35	$15.24	$15.31	$14.94	$15.14	$15.39	$15.39
Debt/Share	$13.96	$17.45	$22.46	$22.25	$21.81	$21.25	$20.69	$20.25	$19.78	$19.55	$19.24	$18.84	$17.19	$17.12	$17.07	$16.94	$17.50	$16.77	$16.76	$16.97	$16.97
Net Debt/Share	$10.15	$16.67	$19.50	$17.21	$17.89	$14.39	$11.77	$9.12	$16.13	$13.29	$11.20	$8.71	$13.86	$11.18	$9.24	$6.18	$14.67	$11.43	$9.78	$9.38	$9.38

Academic Models

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	13.022
Altman Z-Prime	snapshot only																				21.659
Piotroski F-Score	7	6	7	6	5	6	6	6	7	7	7	8	9	8	8	8	6	6	6	6	6
Beneish M-Score	-4.69	-5.20	-3.39	-2.90	-2.79	-3.05	-2.81	-2.85	-3.33	-2.84	-2.34	-2.74	-2.91	-2.39	-2.90	-2.80	-2.81	-2.85	-2.63	-2.18	-2.181
Ohlson O-Score	snapshot only																				-3.021
Net-Net WC	snapshot only																				$-13.52

Credit

Metric	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Current
Credit Rating	snapshot only																				B-
Credit Score	94.56	92.57	92.50	93.03	91.42	90.52	90.36	91.05	84.49	20.00	20.00	20.00	20.00	20.00	20.00	20.00	20.00	20.00	20.00	20.00	20.000
Credit Grade	snapshot only																				16
Credit Trend	snapshot only																				0.000
Implied Spread (bps)	snapshot only																				900.000
Industry Credit Rank	snapshot only																				79
Sector Credit Rank	snapshot only																				81

WINA NASDAQ

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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