Winmark(WINA) - 2024 Q4 - Annual Results

Financial Performance - Net income for the year ended December 28, 2024, was $39,954,200, or$10.89 per diluted share, compared to $40,178,100, or$11.04 per diluted share in 2023, representing a decrease of 0.6%[1] - Total revenue for the year ended December 28, 2024, was $81,289,100, down from$83,243,500 in 2023, reflecting a decline of approximately 2.4%[1] - The fourth quarter 2024 net income was $9,583,100, or$2.60 per diluted share, compared to $9,716,800, or$2.64 per diluted share for the same period last year, indicating a decrease of 1.4%[1] - Net cash provided by operating activities for the year was $42,157,900, compared to$43,994,300 in 2023, a decrease of about 4.2%[9] - The company paid dividends totaling $38,865,900 during the year, down from$43,664,200 in the previous year, reflecting a decrease of approximately 11%[9] Franchise Operations - As of December 28, 2024, there were 1,350 franchises in operation and over 2,800 available territories, with an additional 79 franchises awarded but not yet opened[2] Royalties - Royalties for the fiscal year ended December 28, 2024, amounted to $72,198,500, an increase from$70,230,700 in 2023, representing a growth of approximately 2.8%[7] Cash and Liabilities - The company reported a decrease in cash and cash equivalents to $12,189,800 as of December 28, 2024, down from$13,361,500 in 2023, a decline of about 8.8%[5] - Total current liabilities decreased significantly to $5,087,900 as of December 28, 2024, from$10,461,600 in 2023, a reduction of approximately 51.3%[5] Shareholders' Equity - The company’s total shareholders' equity (deficit) improved to $(51,046,100) as of December 28, 2024, compared to$(59,156,100) in 2023, indicating a positive change of approximately 13.5%[5]