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Suburban Propane Partners vs Winmark: revenue, profit, margins and growth compared

Suburban Propane Partners brought in $1.4B of revenue in fiscal 2025, Winmark $86.1M in fiscal 2025. Revenue changed by +7.9% at Suburban Propane Partners and +5.9% at Winmark on the year before, so Suburban Propane Partners grew faster. Suburban Propane Partners kept 7.4% of its revenue as net profit, Winmark 48.4%. Free cash flow was $114.3M at Suburban Propane Partners and $44.7M at Winmark.

Side by side, latest fiscal year

SPHWINA
Fiscal year endedFY2025 (September 27, 2025)FY2025 (December 27, 2025)
Revenue$1.4B$86.1M
Revenue growth+7.9%+5.9%
Net income$106.6M$41.7M
Net margin7.4%48.4%
Free cash flow$114.3M$44.7M
Free cash flow margin8.0%51.9%
Earnings per share (diluted)$1.62$11.30
Cash$405K$10.3M
Debt$1.2Bn/a
Price to earnings10.326.2
Market value$1.1B$1.1B
Dividend yieldn/an/a
Rank by revenue in sector#406 of 778 · Consumer discretionary#697 of 778 · Consumer discretionary

Over the years

Revenue
SPH FY2018: $1.3BSPH FY2019: $1.3BSPH FY2020: $1.1BSPH FY2021: $1.3BSPH FY2022: $1.5BSPH FY2023: $1.4BSPH FY2024: $1.3BSPH FY2025: $1.4BWINA FY2018: $72.5MWINA FY2019: $73.3MWINA FY2020: $66.1MWINA FY2021: $78.2MWINA FY2022: $81.4MWINA FY2023: $83.2MWINA FY2024: $81.3MWINA FY2025: $86.1MFY18FY19FY20FY21FY22FY23FY24FY25
SPH $1.4BWINA $86.1M
Net income
SPH FY2018: $76.5MSPH FY2019: $68.6MSPH FY2020: $60.8MSPH FY2021: $122.8MSPH FY2022: $139.7MSPH FY2023: $123.8MSPH FY2024: $74.2MSPH FY2025: $106.6MWINA FY2018: $30.1MWINA FY2019: $32.1MWINA FY2020: $29.8MWINA FY2021: $39.9MWINA FY2022: $39.4MWINA FY2023: $40.2MWINA FY2024: $40MWINA FY2025: $41.7MFY18FY19FY20FY21FY22FY23FY24FY25
SPH $106.6MWINA $41.7M
Net margin
SPH FY2018: 5.7%SPH FY2019: 5.4%SPH FY2020: 5.5%SPH FY2021: 9.5%SPH FY2022: 9.3%SPH FY2023: 8.7%SPH FY2024: 5.6%SPH FY2025: 7.4%WINA FY2018: 41.5%WINA FY2019: 43.9%WINA FY2020: 45.1%WINA FY2021: 51.0%WINA FY2022: 48.4%WINA FY2023: 48.3%WINA FY2024: 49.2%WINA FY2025: 48.4%FY18FY19FY20FY21FY22FY23FY24FY25
SPH 7.4%WINA 48.4%
Revenue growth
SPH FY2019: -5.7%SPH FY2020: -12.6%SPH FY2021: +16.3%SPH FY2022: +16.5%SPH FY2023: -4.8%SPH FY2024: -7.1%SPH FY2025: +7.9%WINA FY2019: +1.1%WINA FY2020: -9.9%WINA FY2021: +18.4%WINA FY2022: +4.1%WINA FY2023: +2.3%WINA FY2024: -2.3%WINA FY2025: +5.9%FY19FY20FY21FY22FY23FY24FY25
SPH +7.9%WINA +5.9%
Free cash flow
SPH FY2018: $177.5MSPH FY2019: $191.8MSPH FY2020: $176.9MSPH FY2021: $196.7MSPH FY2022: $176.2MSPH FY2023: $180.3MSPH FY2024: $101.2MSPH FY2025: $114.3MWINA FY2018: $34.2MWINA FY2019: $50.5MWINA FY2020: $43.2MWINA FY2021: $48.3MWINA FY2022: $43.7MWINA FY2023: $43.6MWINA FY2024: $42MWINA FY2025: $44.7MFY18FY19FY20FY21FY22FY23FY24FY25
SPH $114.3MWINA $44.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Suburban Propane Partners and Winmark

Which is bigger by revenue, Suburban Propane Partners or Winmark?

Suburban Propane Partners is bigger by revenue: $1.4B in fiscal 2025, against $86.1M for Winmark in fiscal 2025.

Which keeps more of its revenue as profit, Suburban Propane Partners or Winmark?

Suburban Propane Partners had a net margin of 7.4% in fiscal 2025; Winmark had 48.4% in fiscal 2025.

Which grew revenue faster, Suburban Propane Partners or Winmark?

In their latest fiscal years revenue changed by +7.9% at Suburban Propane Partners and +5.9% at Winmark.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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