Wayfair
W NYSE· Homefurnishing Retail
Last close · Oct 26, 2026
$113.05
KIRA · Stoqly’s AI analyst, in plain words
- Wayfair had $12.5B of revenue in fiscal 2025, up 5.1% on the year before. Over five years, revenue changed −2.5% a year on average.
- Its operating margin was 0.1%, up 4.0 pts: of every 100 in sales, about 0 is left after running the business.
- Wayfair lost $313M in fiscal 2025.
- Free cash flow was $464M in fiscal 2025, 3.7% of revenue.
- Wayfair returned $0.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count rose 4.1%.
- Wayfair owes $1.7B more than it holds in cash, about 5.4 years of operating profit.
Market cap
$14.9B
P/E
—
Revenue
$12.5B
Net income
−$313M
Free cash flow
$464M
Operating margin
0.1%
Wayfair in 30 seconds · fiscal 2025
Are sales growing?
+5.1%
Yes. Sales grew 5.1% last year.
Does it make a profit?
−2.5%
No. It lost money last year.
Does profit turn into cash?
3.7%
Partly. 3.7% of sales ends up as free cash.
Is debt under control?
5.4x
Heavy. Repaying its debt would take 5.4 years of operating profit.
How healthy are the accounts?
6 / 9
Mixed. It passes 6 of 9 health tests.
What Wayfair does
Wayfair is an online retailer of furniture, décor, housewares and home improvement products, selling to households and to businesses. Its site offers 40 million products from about 20 thousand suppliers. It runs several brands: Wayfair, AllModern, Birch Lane, Joss & Main, Perigold (luxury) and Wayfair Professional, plus over one hundred house brands. Only the Wayfair brand sells outside the United States, in Canada, the United Kingdom and Ireland. Wayfair earns money by selling these goods to customers. Most products ship directly from suppliers, and a growing share moves through its own warehouses and delivery network, which handles large parcels. It reports two segments, the U.S. and International. The U.S. segment accounted for 88% of net revenue in 2025. It also offers a rewards program, store credit cards and a small number of physical stores. At the end of 2025 it operated 12 physical stores in 4 states. The 10-K says it has a history of losses.
Biggest risks, in its own words
- A history of losses, with no guarantee it can reach lasting profit and positive cash flow.
- Winning new customers and getting them to buy again at a reasonable marketing cost.
- Tariffs and trade rules that raise the cost of products sourced from other countries.
- Its reliance on suppliers and on carriers and other third parties to deliver goods.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 19, 2026
- Legal name
- Wayfair Inc.
- CIK
- 0001616707
Wayfair · W
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $13.7B | $12.2B | $12.0B | $11.9B | $12.5B |
| Revenue growth | −3.1% | −10.9% | −1.8% | −1.3% | 5.1% |
| Gross margin | 28.4% | 28.0% | 30.6% | 30.2% | 30.2% |
| Operating margin | −0.7% | −11.3% | −6.8% | −3.9% | 0.1% |
| Net income | −$131M | −$1.3B | −$738M | −$492M | −$313M |
| Net margin | −1.0% | −10.9% | −6.2% | −4.2% | −2.5% |
| Diluted EPS | −$1.26 | −$12.54 | −$6.47 | −$4.01 | −$2.44 |
| Cash | |||||
| Cash from operations | $410M | −$674M | $349M | $317M | $534M |
| Capital expenditure | $101M | $186M | $148M | $73.0M | $70.0M |
| Free cash flow | $309M | −$860M | $201M | $244M | $464M |
| FCF margin | 2.3% | −7.0% | 1.7% | 2.1% | 3.7% |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $300M | $75.0M | $0.0M | $0.0M | $0.0M |
| Share count change | 5.1% | 1.9% | 7.6% | 7.9% | 4.1% |
| Debt and strength | |||||
| Cash and short-term investments | $2.4B | $1.3B | $1.4B | $1.4B | $1.5B |
| Debt incl. finance leases | $3.1B | $3.1B | $3.2B | $3.1B | $3.3B |
| Shareholders' equity | −$1.6B | −$2.6B | −$2.7B | −$2.8B | −$2.8B |
| Net debt / EBITDA | 2.9x | — | — | — | 5.4x |
| Current ratio | 1.4x | 0.9x | 0.9x | 0.8x | 0.9x |
| Interest coverage | −3.5x | −51.3x | −12.9x | −5.6x | 0.1x |
| Returns and quality | |||||
| Piotroski F-score | 3 | 1 | 5 | 5 | 6 |
| Altman Z'' | −0.7 | −6.3 | −6.4 | −6.6 | −5.3 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$238M
5 insiders
Of sales under plans
100%
$238M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Wayfair · W
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Wayfair W | $14.9B | 5.1% | 0.1% | 3.7% | — | — | 6 |
| Williams-Sonoma WSM | $29.7B | 1.2% | 18.1% | 13.5% | 106.5% | 25.6x | 5 |
| RH RH | $2.7B | 8.1% | 11.3% | 7.3% | — | 24.1x | — |
| Ulta Beauty ULTA | $27.0B | 9.7% | 12.4% | 8.6% | 55.8% | 22.8x | 6 |
| Chewy CHWY | $9.0B | 6.2% | 2.0% | 4.5% | — | 33.2x | 7 |
KIRA
At $113.05 a share, the company is worth $14.9B.
Wayfair grew sales faster than 1 of its 4 similar companies.
Source: SEC EDGAR XBRL filings (CIK 0001616707). Data updated October 11, 2026. For information only — not investment advice. Check the original filings before relying on any figure.