COMP <GO>
REAL vs WINA // EV/EBITDA & P/E VALUATION
The RealReal Inc. (NASDAQ) VS. Winmark Corporation (NASDAQ) • 15-METRIC TALLY: REAL 4
— WINA 6
■ METRIC PARITY
LAST: $11.35 (+2.62%) • MKT CAP: $1.38B
valuation
—
LAST: $286.88 (+1.38%) • MKT CAP: $1.02B
valuation
18.5x
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (REAL VS. WINA)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | REAL | WINA | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | 74.60% | 96.00% | -21.40 | WINA | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | -27.40% | 84.50% | -111.90 | WINA | /roic <GO> |
| EV/EBITDA & P/E Valuation ACTIVE | — | 18.5x | — | TIE | /valuation <GO> |
| Free Cash Flow Yield | 1.33% | 4.38% | -3.05 | WINA | /fcf-yield <GO> |
| Operating Margin | -3.50% | 63.40% | -66.90 | WINA | /operating-margins <GO> |
| Net Profit Margin | 68.00% | 48.40% | +19.60 | REAL | /net-margins <GO> |
| Revenue Growth (YoY) | 15.40% | 5.90% | +9.50 | REAL | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 0.00% | 4.81% | -4.81 | WINA | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | 0.20 | — | — | TIE | /balance-sheet <GO> |
| Piotroski F-Score Quality | 5/9 | 8/9 | -3.00 | WINA | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 72.0 | 43.5 | +28.55 | REAL | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | — | — | — | TIE | /macro-sensitivity <GO> |
| Forward P/E Multiple | — | 22.8x | — | TIE | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $1.38B | $1.02B | $359.9M | REAL | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | REAL REV | WINA REV | REAL GROSS % | WINA GROSS % | REAL FCF | WINA FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $692.8M | $86.1M | 74.6% | 96.4% | $18.4M | $44.7M |
| FY 2024 | $600.5M | $81.3M | 74.5% | 95.8% | $12.6M | $42.0M |
| FY 2023 | $549.3M | $83.2M | — | — | -$61.3M | $44.0M |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
REAL // BETA —
WINA // BETA —