European Wax Center, Inc. Financials
This page shows European Wax Center, Inc. (EWCZ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash conversion is the dominant mechanic: low reinvestment turns modest reported earnings into substantial cash despite financing outflows.
Across FY2024-FY2026, operating cash flow remained roughly five to six times net income, while free cash flow stayed close to operating cash flow. That combination indicates earnings are substantially supplemented by non-cash or working-capital effects, while the business retains most internally generated cash after capital spending.
The latest year produced operating cash flow of
The balance sheet points to a thin-equity, debt-supported structure: debt-to-equity increased from 3.4x in FY2024 to 4.3x in FY2025 as equity fell to
Financial Health Signals
European Wax Center, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
For every $1 of reported earnings, European Wax Center, Inc. generates $6.10 in operating cash flow ($53.0M OCF vs $8.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
European Wax Center, Inc. reported $8.7M in net income in fiscal year 2026. This represents a decrease of 17.0% from the prior year.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
Cash & Balance Sheet
European Wax Center, Inc. generated $50.1M in free cash flow in fiscal year 2026, representing cash available after capex. This represents a decrease of 10.5% from the prior year.
European Wax Center, Inc. paid $3.30 per share in dividends in fiscal year 2026. That is unchanged from the prior year.
Not reported for fiscal year 2026.
Margins & Returns
European Wax Center, Inc.'s ROE was 8.3% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 3.1 percentage points from the prior year.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
Capital Allocation
European Wax Center, Inc. spent $6.1M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 84.8% from the prior year.
European Wax Center, Inc. invested $2.9M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 458.9% from the prior year.
Not reported for fiscal year 2026.
EWCZ Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $14.3M |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $1.7M |
| Net Income | $960K | N/A | $3.8M+0.8% | $3.8M+116.3% | $1.7M | N/A | $1.5M-65.2% | $4.2M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Interest Expense, EPS (Diluted).
EWCZ Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Goodwill | N/A | $39.1M | N/A | N/A | N/A | $39.1M | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | $390.0M | N/A | N/A |
| Total Equity | $106.7M+1.8% | $104.9M+0.1% | $104.8M-1.0% | $105.9M+7.5% | $98.5M+7.6% | $91.6M-6.4% | $97.9M-15.1% | $115.3M |
Not reported in any period shown, so not listed: Total Assets, Current Assets, Cash & Equivalents, Inventory, Accounts Receivable, Total Liabilities, Current Liabilities, Retained Earnings.
EWCZ Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $618K-92.1% | $7.8M-55.0% | $17.3M+13.9% | $15.2M+19.6% | $12.7M-23.2% | $16.6M+11.7% | $14.8M+2.9% | $14.4M |
| Capital Expenditures | $1.7M+131.3% | $739K-8.8% | $810K+15.2% | $703K+6.5% | $660K+169.4% | $245K+301.6% | $61K-67.0% | $185K |
| Free Cash Flow | -$1.1M-115.5% | $7.1M-57.2% | $16.5M+13.8% | $14.5M+20.3% | $12.0M-26.1% | $16.3M+10.5% | $14.8M+3.8% | $14.2M |
| Investing Cash Flow | -$1.7M-131.3% | -$739K+8.8% | -$810K-15.2% | -$703K-6.5% | -$660K-169.4% | -$245K-301.6% | -$61K+67.0% | -$185K |
| Financing Cash Flow | -$3.2M+29.4% | -$4.6M+32.4% | -$6.8M+24.0% | -$8.9M-158.4% | -$3.5M+76.3% | -$14.6M+34.7% | -$22.4M-18.3% | -$18.9M |
| Share Buybacks | $0 | $0-100.0% | $4.6M+1112.8% | $383K-64.0% | $1.1M-89.4% | $10.0M-50.4% | $20.1M+101.4% | $10.0M |
Not reported in any period shown, so not listed: Dividends Paid.
EWCZ Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | 0.9% | N/A | 3.6%+0.1pp | 3.5%+1.8pp | 1.8% | N/A | 1.5%-2.2pp | 3.7% |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | 4.26 | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Assets, Current Ratio, FCF Margin.
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Frequently Asked Questions
Is European Wax Center, Inc. profitable?
Yes, European Wax Center, Inc. (EWCZ) reported a net income of $8.7M in fiscal year 2026.
Does European Wax Center, Inc. pay dividends?
Yes, European Wax Center, Inc. (EWCZ) paid $3.30 per share in dividends during fiscal year 2026.
What is European Wax Center, Inc.'s return on equity (ROE)?
European Wax Center, Inc. (EWCZ) has a return on equity of 8.3% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is European Wax Center, Inc.'s free cash flow?
European Wax Center, Inc. (EWCZ) generated $50.1M in free cash flow during fiscal year 2026. This represents a -10.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is European Wax Center, Inc.'s operating cash flow?
European Wax Center, Inc. (EWCZ) generated $53.0M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are European Wax Center, Inc.'s capital expenditures?
European Wax Center, Inc. (EWCZ) invested $2.9M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
Are European Wax Center, Inc.'s earnings high quality?
European Wax Center, Inc. (EWCZ) has an earnings quality ratio of 6.10x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.