Wayfair vs Williams-Sonoma
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The short version
- Wayfair is the larger business, with $12.5B of revenue in fiscal 2025 against $7.8B for Williams-Sonoma, about 1.6 times as much.
- Wayfair grew revenue faster (5.1%, against 1.2%).
- Williams-Sonoma kept more of each dollar of sales as operating profit (18.1% operating margin, against 0.1%).
- Williams-Sonoma turned more of its sales into free cash flow (13.5% FCF margin, against 3.7%).
| Latest fiscal year | W · FY25 | WSM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $14.8B | $30.0B |
| Revenue | $12.5B | $7.8B |
| Free cash flow | $464M | $1.1B |
| Net income | −$313M | $1.1B |
| Growth | ||
| Revenue growth | 5.1% | 1.2% |
| 5-year growth | −2.5% | 2.9% |
| Share count change | 4.1% | −3.8% |
| Profitability | ||
| Gross margin | 30.2% | 46.2% |
| Operating margin | 0.1% | 18.1% |
| Net margin | −2.5% | 13.9% |
| FCF margin | 3.7% | 13.5% |
| Return on capital | — | 106.5% |
| Return on equity | — | 51.5% |
| Balance sheet | ||
| Net debt | $1.7B | −$1.0B |
| Net debt / EBITDA | 5.4x | −0.6x |
| Dividends and buybacks | $0.0M | $1.2B |
| Valuation & quality | ||
| P/E | — | 25.9x |
| Piotroski F-score | 6 | 5 |
Revenue
FY16
W $3.4B
WSM $5.1B
FY17
W $4.7B
WSM $5.3B
FY18
W $6.8B
WSM $5.7B
FY19
W $9.1B
WSM $5.9B
FY20
W $14.1B
WSM $6.8B
FY21
W $13.7B
WSM $8.2B
FY22
W $12.2B
WSM $8.7B
FY23
W $12.0B
WSM $7.8B
FY24
W $11.9B
WSM $7.7B
FY25
W $12.5B
WSM $7.8B
W
WSM
Operating margin
FY16
W −5.8%
WSM 9.3%
FY17
W −5.0%
WSM 8.6%
FY18
W −7.0%
WSM 7.7%
FY19
W −10.2%
WSM 7.9%
FY20
W 2.6%
WSM 13.4%
FY21
W −0.7%
WSM 17.6%
FY22
W −11.3%
WSM 17.3%
FY23
W −6.8%
WSM 16.1%
FY24
W −3.9%
WSM 18.6%
FY25
W 0.1%
WSM 18.1%
W
WSM
Free cash flow
FY16
W −$33.9M
WSM $327M
FY17
W −$66.8M
WSM $310M
FY18
W −$74.3M
WSM $396M
FY19
W −$469M
WSM $421M
FY20
W $1.2B
WSM $1.1B
FY21
W $309M
WSM $1.1B
FY22
W −$860M
WSM $699M
FY23
W $201M
WSM $1.5B
FY24
W $244M
WSM $1.1B
FY25
W $464M
WSM $1.1B
W
WSM
Return on capital
FY16
W —
WSM 30.0%
FY17
W —
WSM 24.3%
FY18
W —
WSM 30.4%
FY19
W —
WSM 32.7%
FY20
W —
WSM 74.8%
FY21
W —
WSM 144.2%
FY22
W —
WSM 104.9%
FY23
W —
WSM 84.4%
FY24
W —
WSM 120.7%
FY25
W —
WSM 106.5%
W
WSM
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.