$375.70
-1.3%Winmark Corporation, together with its subsidiaries, operates as a franchisor of retail store concepts that buy, sell, trade, and consign used merchandise primarily in the United States and Canada. The company operates through two segments, Franchising and Leasing. Its franchises retail stores operate under the Plato's Closet, Once Upon A Child, Play It Again Sports, Style Encore, and Music Go Round brand names. The company's Plato's Closet brand stores buys and sells used clothing and accessories for the teenage and young adult market; and Once Upon A Child brand stores buys and sells used and new children's clothing, toys, furniture, equipment, and accessories primarily to parents of children ages infant to 12 years. Its Play It Again Sports brand stores buys, sells, trades in, and used and new sporting goods, equipment, and accessories for various athletic activities, such as team sports, fitness, ski/snowboard, golf, and others; Style Encore brand stores buys and sells used women's apparel, shoes, and accessories; and Music Go Round brand stores buys, sells, trades in, and used and new musical instruments, speakers, amplifiers, music-related electronics, and related accessories. In addition, the company is also involved in the middle-market equipment leasing business focusing on technology and business-essential equipment. As of February 23, 2022, it had 1,271 franchised stores, as well as offers its products online at musicgoround.com, playitagainsports.com, and style-encore.com. Winmark Corporation was incorporated in 1988 and is headquartered in Minneapolis, Minnesota.
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $47.8M | $51.0M | $54.3M | $57.8M | $61.6M | $65.6M | $69.9M | $74.5M | $79.4M | $84.5M |
| Maintenance CapEx | -$41.0K | -$43.6K | -$46.5K | -$49.5K | -$52.8K | -$56.2K | -$59.9K | -$63.8K | -$68.0K | -$72.4K |
| Owner Earnings | $47.8M | $50.9M | $54.2M | $57.8M | $61.6M | $65.6M | $69.9M | $74.4M | $79.3M | $84.5M |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $44.2M | $43.6M | $43.1M | $42.5M | $41.9M | $41.3M | $40.8M | $40.2M | $39.7M | $39.1M |
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