Flagship explainer

What drives WINMARK CORPORATION’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity−80%Tax burden78%net income ÷ pretax incomeInterest burden97%pretax ÷ operating incomeOperating margin63%operating income ÷ revenueAsset turnover3.33×revenue ÷ average assetsEquity multiplier-0.49×average assets ÷ average equityAs of 2025-12-27 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$41.7MFY2025
Income before tax$53.1MFY2025
Operating income$54.6MFY2025
$86.1MFY2025
Ending assets$24.9MFY2025
Beginning assets$26.8MFY2024
−$53.7MFY2025
−$51MFY2024
Source: · event Dec 27, 2025 · retrieved Jul 26, 2026 · annual-row source set
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WINA dupont explainer — Buy Like Buffett · Buy Like Buffett