WINA (Winmark Corp) vs S&P 500 Comparison

WINA

S&P 500

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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WINA

S&P 500

Difference

1Y 3Y 5Y 10Y 15Y 20Y

WINA

S&P 500

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Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

Select Stock to Compare

S&P 500

WINA

TSCO

ULTA

DKS

601888

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1Y 3Y 5Y 10Y 15Y 20Y

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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Winmark Corp
Glance View

Market Cap

1.3B USD

Industry

Retail

In the world of resale retail, Winmark Corporation has carved out a unique niche that combines entrepreneurial spirit with a keen sense of sustainability. Founded in 1988, the company has grown through a model that is both innovative and consistent. Winmark operates as a franchisor of five resale retailing brands: Plato's Closet, Once Upon A Child, Play It Again Sports, Music Go Round, and Style Encore. Each brand caters to a specific niche market—ranging from gently used sporting goods and clothes for children and teens to high-quality resale apparel for fashion-conscious adults—ensuring Winmark appeals to diverse consumer demographics. What sets Winmark apart is its skill in creating systems and processes that empower local franchise owners to succeed. By offering extensive training, operational support, and access to an established brand image, Winmark not only helps these entrepreneurs thrive but also aligns itself with a growing trend towards sustainable shopping. Underpinning Winmark's success is a business model that capitalizes on the growing consumer demand for value and the cultural shift towards recycling and sustainability. By focusing on the resale of high-quality, secondhand goods, Winmark franchises earn revenue from the sale of used products, while also benefitting sellers who quickly convert their unwanted items into cash. This arrangement serves as a win-win, nurturing a community-centric retail environment. The corporation makes money through initial franchise fees, ongoing royalties, and other services that support their franchisees, creating a multi-layered revenue stream. This approach not only earns steady profits but also fortifies Winmark's position as a leader in the expanding resale sector, harnessing both economic and environmental benefits.

View WINA Analysis

WINA Intrinsic Value

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

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US		Tractor Supply Co NASDAQ:TSCO	Select
US		Ulta Beauty Inc NASDAQ:ULTA	Select
US		DICK'S Sporting Goods Inc NYSE:DKS	Select
CN		China Tourism Group Duty Free Corp Ltd SSE:601888	Select
CN		Pop Mart International Group Ltd HKEX:9992	Select
HK		Chow Tai Fook Jewellery Group Ltd HKEX:1929	Select
NL	G	Grandvision NV F:8GV	Select
JP		Sanrio Co Ltd TSE:8136	Select
US		Bath & Body Works Inc NYSE:BBWI	Select
UK		JD Sports Fashion PLC LSE:JD	Select

US		Tractor Supply Co NASDAQ:TSCO	Add
US		Ulta Beauty Inc NASDAQ:ULTA	Add
US		DICK'S Sporting Goods Inc NYSE:DKS	Add
CN		China Tourism Group Duty Free Corp Ltd SSE:601888	Add
CN		Pop Mart International Group Ltd HKEX:9992	Add
HK		Chow Tai Fook Jewellery Group Ltd HKEX:1929	Add
NL	G	Grandvision NV F:8GV	Add
JP		Sanrio Co Ltd TSE:8136	Add
US		Bath & Body Works Inc NYSE:BBWI	Add
UK		JD Sports Fashion PLC LSE:JD	Add

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WINA

vs

S&P 500

Stocks Performance
WINA vs S&P 500

Performance Gap
WINA vs S&P 500

Performance By Year
WINA vs S&P 500

Competitors Performance
Winmark Corp vs Peers

Winmark Corp
Glance View

Company

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WINA vs S&P 500

Stocks Performance WINA vs S&P 500

Performance Gap WINA vs S&P 500

Performance By Year WINA vs S&P 500

Competitors Performance Winmark Corp vs Peers

Winmark Corp Glance View

Company

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Stocks

WINA

vs

S&P 500

Stocks Performance
WINA vs S&P 500

Performance Gap
WINA vs S&P 500

Performance By Year
WINA vs S&P 500

Competitors Performance
Winmark Corp vs Peers

Winmark Corp
Glance View