RIVN
Rivian Automotive, Inc.
RIVN offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
WINA
Winmark Corporation
WINA has a slight edge over RIVN overall, supported by stronger valuation and lower modeled downside.
RIVN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Weak | |
| Unavailable |
RIVN's revenue is currently healthy, but its profitability and cash flow are weak. There isn't enough data to rate its balance sheet.
WINA Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Healthy |
WINA's revenue, profitability, cash flow and balance sheet are all currently healthy.
RIVN PE Valuation
RIVN has no meaningful PE right now: it lost money over the past year.
WINA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 21x | $240 | -12% |
| Current | 24x | $272 | — |
| Fair | 28x | $312 | +15% |
| Expensive | 36x | $403 | +48% |
Historical ranges are pointers, not guarantees.
WINA's PE is in its fair range at 24x.
RIVN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect RIVN's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
WINA Forward outlook
There aren't enough analyst estimates for WINA to show an outlook.
RIVN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.25 | +$0.83 |
| Q2 2026 | -$2.58 | +$0.62 |
| Q1 2026 | -$2.92 | +$0.77 |
| Q4 2025 | -$3.07 | +$1.62 |
| Q3 2025 | -$3.08 | +$2.52 |
| Q2 2025 | -$3.20 | +$2.76 |
| Q1 2025 | -$3.69 | +$2.08 |
| Q4 2024 | -$4.69 | +$1.05 |
RIVN is still losing money, but far less than before: $2.25 per share over the past year, against $7.40 at its worst in late 2022.
WINA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $11.20 | -0.2% |
| Q2 2026 | $11.01 | -2% |
| Q1 2026 | $11.09 | -0.9% |
| Q4 2025 | $11.30 | +3.8% |
| Q3 2025 | $11.22 | +2.6% |
| Q2 2025 | $11.23 | +2.5% |
| Q1 2025 | $11.19 | +2.1% |
| Q4 2024 | $10.89 | -1.4% |
WINA has the edge over RIVN on earnings quality, reporting a profit while its opponent remains loss making.
RIVN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.2B | +38% |
| Q2 2026 | $1.7B | +27% |
| Q1 2026 | $1.4B | +11% |
| Q4 2025 | $1.3B | -26% |
| Q3 2025 | $1.6B | +78% |
| Q2 2025 | $1.3B | +13% |
| Q1 2025 | $1.2B | +3% |
| Q4 2024 | $1.7B | +32% |
RIVN has the edge over WINA on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -41% | +22 points |
| Q2 2026 | -50% | +35 points |
| Q1 2026 | -64% | -11 points |
| Q4 2025 | -65% | -27 points |
| Q3 2025 | -63% | +71 points |
| Q2 2025 | -86% | +33 points |
| Q1 2025 | -53% | +70 points |
| Q4 2024 | -38% | +82 points |
RIVN's operating margin was −41% last quarter, up 22 points from the same quarter a year ago, near the top of its range since 2021.
WINA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $27.9M | +23% |
| Q2 2026 | $22M | +7.6% |
| Q1 2026 | $20.8M | -4.9% |
| Q4 2025 | $21.1M | +7.9% |
| Q3 2025 | $22.6M | +5.2% |
| Q2 2025 | $20.4M | +1.5% |
| Q1 2025 | $21.9M | +9% |
| Q4 2024 | $19.5M | -2.5% |
WINA's revenue has picked up after three years of holding roughly level: $28M last quarter, up 23% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 57% | -9.3 points |
| Q2 2026 | 62% | -1.9 points |
| Q1 2026 | 59% | -2.7 points |
| Q4 2025 | 62% | -3.6 points |
| Q3 2025 | 66% | -3.5 points |
| Q2 2025 | 64% | -0.7 points |
| Q1 2025 | 62% | +1.3 points |
| Q4 2024 | 65% | +2.8 points |
WINA has the edge over RIVN on profitability, with a higher operating margin.
RIVN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.1B | -$703M |
| Q2 2026 | -$849M | -$451M |
| Q1 2026 | -$1.1B | -$549M |
| Q4 2025 | -$1.1B | -234% |
| Q3 2025 | -$421M | +$732M |
| Q2 2025 | -$398M | +$639M |
| Q1 2025 | -$526M | +$997M |
| Q4 2024 | $856M | +$2.3B |
RIVN has burned cash in almost every quarter: −$4.2B over the past year, against −$489M the year before.
WINA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $12.7M | +4.4% |
| Q2 2026 | $10.7M | +19% |
| Q1 2026 | $11.9M | -21% |
| Q4 2025 | $8.5M | +0.5% |
| Q3 2025 | $12.2M | +0.6% |
| Q2 2025 | $9M | +11% |
| Q1 2025 | $15M | +13% |
| Q4 2024 | $8.5M | -2.4% |
WINA has the edge over RIVN on cash generation, producing positive trailing cash flow while its opponent burns cash.
RIVN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +9.1% | +121M shares |
| 1 year | +19% | +226M shares |
| 3 years | +52% | +494M shares |
RIVN has 1.4B diluted shares, up 19% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | $6M |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
WINA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -10.3K shares |
| 1 year | -0.2% | -7.5K shares |
| 3 years | +0.9% | +31.9K shares |
| 5 years | -2.6% | -97.2K shares |
| Available history | -10% | -415K shares |
WINA has the edge over RIVN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $8.1M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $168,800 |
| Q1 2025 | $2.2M |
| Q4 2022 | $838,600 |
| Q3 2022 | $433,700 |
| Q2 2022 | $11.3M |
RIVN Net Leverage
RIVN's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
WINA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.6x | Very low |
| Q2 2026 | 0.6x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | 0.9x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.6x | Very low |
| Q1 2025 | 0.7x | Very low |
| Q4 2024 | 0.9x | Very low |
WINA's net debt is less than a year of its operating earnings (EBITDA).
RIVN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.5 | Neutral |
| Stochastic | 25.6 | Neutral |
RIVN's weekly RSI is 41 (neutral) and its Stochastic is 26 (neutral).
WINA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.3 | Neutral |
| Stochastic | 6.8 | Oversold |
WINA's weekly RSI is 35 (neutral) and its Stochastic is 7 (oversold).
RIVN PE vs Consumer Cyclical Sector
RIVN has no meaningful PE right now: it lost money over the past year.
WINA PE vs Consumer Cyclical Sector
| Metric | WINA | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 18x | 35% above |
| PE % | 39 | 47 | 8 pts below |
WINA is trading at 24x earnings, a 35% premium to the Consumer Cyclical sector's median of 18x.
RIVN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $13.3 | 3.9% below |
| 20 week MA | $15.1 | 15% below |
| 50 week MA | $15.9 | 19% below |
| 100 week MA | $14.7 | 13% below |
| 200 week MA | $15.1 | 15% below |
RIVN is in a downtrend: it's below all five of its weekly moving averages, and 15% below its 200-week average.
WINA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $287.9 | 5.6% below |
| 20 week MA | $324.0 | 16% below |
| 50 week MA | $379.4 | 28% below |
| 100 week MA | $389.0 | 30% below |
| 200 week MA | $376.0 | 28% below |
WINA is in a downtrend: it's below all five of its weekly moving averages, and 28% below its 200-week average.
RIVN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $130.0 | $96.8 | -25% |
| 2022 | $96.8 | $19.1 | -80% |
| 2023 | $19.1 | $23.5 | +23% |
| 2024 | $23.5 | $13.7 | -42% |
| 2025 | $13.7 | $20.9 | +53% |
| 2026 YTD | $20.9 | $12.8 | -39% |
RIVN has finished lower in three of the last five years. It's down 39% so far in 2026.
WINA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $196.2 | $184.0 | -6.2% |
| 2021 | $184.0 | $241.9 | +31% |
| 2022 | $241.9 | $238.4 | -1.5% |
| 2023 | $238.4 | $417.6 | +75% |
| 2024 | $417.6 | $396.2 | -5.1% |
| 2025 | $396.2 | $410.2 | +3.5% |
| 2026 YTD | $410.2 | $271.7 | -34% |
WINA has the edge over RIVN on returns for 2026, with the stronger performance.