Wayfair Inc. (W) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the W SEC filings page.
Wayfair Inc. (W) reported $12.9B in revenue over the twelve months to Jun 30, 2026, up 7.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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).
Wayfair’s operating recovery reached break-even and stronger cash generation in 2025, but financing costs and negative equity still weigh on the business.
The key disconnect is that 2025 operating income turned positive at$17M while net income remained a net loss of$313M . Interest expense rose to$165M from$83M in FY2024, showing that improved core operations have not yet translated into bottom-line earnings.
Gross margin held near
Cash conversion exceeded reported profitability: operating cash flow was
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Wayfair Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Wayfair Inc. has an operating margin of 0.1%, meaning the company retains less than $1 of operating profit per $100 of revenue. This results in a moderate score of 31/100, indicating healthy but not exceptional operating efficiency. This is up from -3.9% the prior year.
Wayfair Inc.'s revenue grew 5.1% year-over-year to $12.5B, a solid pace of expansion. This earns a growth score of 37/100.
Wayfair Inc.'s current ratio of 0.94 is below the typical benchmark, resulting in a score of 16/100. However, the company holds substantial cash reserves (69% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
Wayfair Inc. has a free cash flow margin of 3.7%, earning a moderate score of 36/100. The company generates positive cash flow after capital investments, but with room for improvement.
Wayfair Inc. scores 3.03, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Wayfair Inc. passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Wayfair Inc. reported a net loss of $313.0M while generating $534.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Wayfair Inc. earns $0.10 in operating income for every $1 of interest expense ($17.0M vs $165.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Wayfair Inc. generated $3.5B in revenue in Q2 2026. This represents an increase of 7.5% from the same quarter a year earlier. Against the prior quarter it is up 20.1%.
Wayfair Inc.'s EBITDA was $168.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 76.8% from the same quarter a year earlier. Against the prior quarter it is up 200.0%.
Wayfair Inc. reported -$1.0M in net income in Q2 2026. This represents a decrease of 106.7% from the same quarter a year earlier. Against the prior quarter it is up 99.0%.
Wayfair Inc. earned -$0.01 per diluted share (EPS) in Q2 2026. This represents a decrease of 109.1% from the same quarter a year earlier. Against the prior quarter it is up 98.8%.
Cash & Balance Sheet
Wayfair Inc. generated $334.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 28.5% from the same quarter a year earlier. Against the prior quarter it is up 533.8%.
Wayfair Inc. held $1.1B in cash against $2.8B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Wayfair Inc.'s gross margin was 29.9% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.1 percentage points.
Wayfair Inc.'s operating margin was 3.0% in Q2 2026, reflecting core business profitability. This is up 2.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.3 percentage points.
Wayfair Inc.'s net profit margin was 0.0% in Q2 2026, showing the share of revenue converted to profit. This is down 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.5 percentage points.
Not reported for Q2 2026.
Capital Allocation
Wayfair Inc. invested $26.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 100.0% from the same quarter a year earlier. Against the prior quarter it is up 4.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
W Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.5B+7.5% | $2.9B+7.4% | $3.3B+6.9% | $3.1B+8.1% | $3.3B+5.0% | $2.7B0.0% | $3.1B+0.2% | $2.9B-2.0% |
| Cost of Revenue | $2.5B+7.7% | $2.1B+8.3% | $2.3B+6.7% | $2.2B+8.6% | $2.3B+5.2% | $1.9B-0.9% | $2.2B+0.5% | $2.0B-0.8% |
| Gross Profit | $1.1B+7.1% | $880.0M+5.1% | $1.0B+7.3% | $934.0M+7.0% | $984.0M+4.6% | $837.0M+2.2% | $941.0M-0.3% | $873.0M-4.8% |
| Operating Income | $104.0M+511.8% | -$11.0M+91.0% | $84.0M+171.8% | $38.0M+151.4% | $17.0M+148.6% | -$122.0M+48.1% | -$117.0M+32.0% | -$74.0M+51.3% |
| EBITDA | $168.0M+76.8% | $56.0M+236.6% | $155.0M+674.1% | $113.0M+465.0% | $95.0M+48.4% | -$41.0M+68.7% | -$27.0M+59.7% | $20.0M+143.5% |
| Interest Expense | $39.0M+34.5% | $39.0M+69.6% | $82.0M+20.6% | $31.0M+520.0% | $29.0M+625.0% | $23.0M+283.3% | $68.0M+41.7% | $5.0M0.0% |
| Income Tax | $3.0M+50.0% | $1.0M-66.7% | $2.0M0.0% | $2.0M-33.3% | $2.0M0.0% | $3.0M0.0% | $2.0M-33.3% | $3.0M+50.0% |
| Net Income | -$1.0M-106.7% | -$105.0M+7.1% | -$116.0M+9.4% | -$99.0M-33.8% | $15.0M+135.7% | -$113.0M+54.4% | -$128.0M+26.4% | -$74.0M+54.6% |
| EPS (Basic) | -$0.01-109.1% | -$0.80+10.1% | -$0.90+12.6% | -$0.76-26.7% | $0.11+132.4% | -$0.89+56.8% | -$1.03+30.4% | -$0.60+57.1% |
| EPS (Diluted) | -$0.01-109.1% | -$0.80+10.1% | -$0.90+12.6% | -$0.76-26.7% | $0.11+132.4% | -$0.89+56.8% | -$1.03+30.4% | -$0.60+57.1% |
| Diluted Shares (Avg) | 132M+2.3% | 131M+3.1% | N/A | 130M+5.7% | 129M+5.7% | 127M+5.8% | N/A | 123M+6.0% |
Not reported in any period shown, so not listed: R&D Expenses, SG&A Expenses.
W Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.0B-9.2% | $2.9B-16.1% | $3.4B-0.5% | $3.1B-8.7% | $3.3B-4.6% | $3.4B+5.5% | $3.5B-0.4% | $3.4B+1.6% |
| Current Assets | $1.7B-6.9% | $1.6B-17.2% | $2.0B+6.6% | $1.7B-7.4% | $1.8B-0.7% | $1.9B+19.2% | $1.9B+1.2% | $1.8B+1.6% |
| Cash & Equivalents | $1.1B-19.7% | $1.0B-25.0% | $1.5B+12.2% | $1.2B-9.6% | $1.3B+1.7% | $1.3B+20.9% | $1.3B-0.5% | $1.3B+1.2% |
| Short-Term Investments | $78.0M+50.0% | $58.0M+93.3% | $66.0M+17.9% | $54.0M+68.8% | $52.0M+33.3% | $30.0M-40.0% | $56.0M+93.1% | $32.0M |
| Inventory | $84.0M-5.6% | $78.0M-13.3% | $71.0M-6.6% | $70.0M-13.6% | $89.0M+14.1% | $90.0M+11.1% | $76.0M+1.3% | $81.0M+2.5% |
| Accounts Receivable | $184.0M+67.3% | $158.0M+12.9% | $132.0M-14.8% | $129.0M-16.8% | $110.0M-31.7% | $140.0M+23.9% | $155.0M+10.7% | $155.0M+17.4% |
| Long-Term Investments | $0 | $0 | $20.0M+33.3% | $0 | $0 | $0 | $15.0M+7.1% | $0 |
| Goodwill | N/A | N/A | $400K0.0% | N/A | N/A | N/A | $400K0.0% | N/A |
| Total Liabilities | $5.8B-3.9% | $5.7B-8.3% | $6.2B+0.1% | $5.9B-4.3% | $6.0B-3.2% | $6.2B+2.7% | $6.2B+0.5% | $6.1B+1.3% |
| Current Liabilities | $2.3B+2.4% | $2.1B-10.0% | $2.1B-10.2% | $2.3B+3.9% | $2.2B+0.4% | $2.3B+12.7% | $2.4B+8.6% | $2.2B+8.7% |
| Non-Current Liabilities | $3.5B-7.5% | $3.7B-7.3% | $4.1B+6.5% | $3.6B-8.7% | $3.8B-5.2% | $3.9B-2.4% | $3.8B-3.9% | $4.0B-2.3% |
| Long-Term Debt | $2.8B-3.0% | $2.9B-2.3% | $3.2B+12.2% | $2.7B-10.2% | $2.9B-5.7% | $3.0B-3.1% | $2.9B-6.8% | $3.1B-4.6% |
| Total Equity | -$2.8B-2.5% | -$2.8B-1.2% | -$2.8B-1.0% | -$2.8B-1.3% | -$2.7B+1.5% | -$2.8B+0.6% | -$2.8B-1.8% | -$2.7B-0.9% |
| Retained Earnings | -$4.9B-7.0% | -$4.9B-6.6% | -$4.8B-6.9% | -$4.7B-7.4% | -$4.6B-7.0% | -$4.6B-8.4% | -$4.5B-12.2% | -$4.4B-14.0% |
W Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $360.0M+31.9% | -$52.0M+45.8% | $202.0M+24.7% | $155.0M+216.3% | $273.0M+11.4% | -$96.0M+30.9% | $162.0M+2.5% | $49.0M-59.5% |
| Depreciation & Amortization | $64.0M-17.9% | $67.0M-17.3% | $71.0M-21.1% | $75.0M-20.2% | $78.0M-21.2% | $81.0M-22.1% | $90.0M-14.3% | $94.0M-11.3% |
| Stock-Based Compensation | $69.0M-31.0% | $67.0M+4.7% | N/A | $88.0M-7.4% | $100.0M+5.3% | $64.0M-46.2% | N/A | $95.0M-31.7% |
| Capital Expenditures | $26.0M+100.0% | $25.0M+400.0% | $25.0M+25.0% | $27.0M+58.8% | $13.0M-43.5% | $5.0M-61.5% | $20.0M-57.4% | $17.0M-43.3% |
| Free Cash Flow | $334.0M+28.5% | -$77.0M+23.8% | $177.0M+24.6% | $128.0M+300.0% | $260.0M+17.1% | -$101.0M+33.6% | $142.0M+27.9% | $32.0M-64.8% |
| Investing Cash Flow | -$79.0M-19.7% | -$46.0M-170.6% | -$69.0M+17.9% | -$67.0M-31.4% | -$66.0M-26.9% | -$17.0M+77.3% | -$84.0M+31.1% | -$51.0M+35.4% |
| Financing Cash Flow | -$221.0M-10.5% | -$378.0M-370.0% | $174.0M+341.7% | -$243.0M | -$200.0M-6766.7% | $140.0M | -$72.0M | $0 |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
W Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.9%-0.1pp | 30.0%-0.6pp | 30.3%+0.1pp | 30.0%-0.3pp | 30.1%-0.1pp | 30.7%+0.7pp | 30.1%-0.2pp | 30.3%-0.9pp |
| Operating Margin | 3.0%+2.4pp | -0.4%+4.1pp | 2.5%+6.3pp | 1.2%+3.8pp | 0.5%+1.6pp | -4.5%+4.1pp | -3.8%+1.8pp | -2.6%+2.6pp |
| Net Margin | 0.0%-0.5pp | -3.6%+0.6pp | -3.5%+0.6pp | -3.2%-0.6pp | 0.5%+1.8pp | -4.1%+4.9pp | -4.1%+1.5pp | -2.6%+3.0pp |
| Return on Assets | 0.0%-0.5pp | -3.7%-0.4pp | -3.4%+0.3pp | -3.2%-1.0pp | 0.5%+1.7pp | -3.3%+4.3pp | -3.7%+1.3pp | -2.2%+2.7pp |
| Current Ratio | 0.74-0.1x | 0.76-0.1x | 0.94+0.1x | 0.74-0.1x | 0.820.0x | 0.830.0x | 0.79-0.1x | 0.84-0.1x |
| Asset Turnover | 1.18+0.2x | 1.02+0.2x | 0.97+0.1x | 1.00+0.2x | 1.00+0.1x | 0.800.0x | 0.900.0x | 0.840.0x |
| FCF Margin | 9.5%+1.6pp | -2.6%+1.1pp | 5.3%+0.8pp | 4.1%+3.0pp | 7.9%+0.8pp | -3.7%+1.9pp | 4.5%+1.0pp | 1.1%-2.0pp |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Note: Shareholder equity is negative (-$2.8B), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.94), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Wayfair Inc. W | FY2025 | $12.5B | -$313.0M | -2.5% | $14.5B | 25/100 |
| Maplebear Inc. CART | FY2025 | $3.7B | $447.0M | 11.9% | $11.0B | 57/100 |
| Chewy, Inc. CHWY | FY2025 | $12.6B | $222.8M | 1.8% | $7.6B | 50/100 |
| Vipshop Holdings Limited VIPS | FY2025 | $15.1B | $1.0B | 6.8% | $6.0B | 52/100 |
| eBay Inc EBAY | FY2025 | $11.1B | $2.0B | 18.3% | $49.8B | 60/100 |
| DoorDash, Inc. DASH | FY2025 | $13.7B | $935.0M | 6.8% | $83.1B | 54/100 |
Where Wayfair Inc. Ranks
Frequently Asked Questions
What is Wayfair Inc.'s annual revenue?
Wayfair Inc. (W) reported $12.5B in total revenue for fiscal year 2025. This represents a 5.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Wayfair Inc.'s revenue growing?
Wayfair Inc. (W) revenue grew by 5.1% year-over-year, from $11.9B to $12.5B in fiscal year 2025.
Is Wayfair Inc. profitable?
No, Wayfair Inc. (W) reported a net income of -$313.0M in fiscal year 2025, with a net profit margin of -2.5%.
What is Wayfair Inc.'s EBITDA?
Wayfair Inc. (W) had EBITDA of $322.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Wayfair Inc. have?
As of fiscal year 2025, Wayfair Inc. (W) had $1.5B in cash and equivalents against $3.2B in long-term debt.
What is Wayfair Inc.'s gross margin?
Wayfair Inc. (W) had a gross margin of 30.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Wayfair Inc.'s operating margin?
Wayfair Inc. (W) had an operating margin of 0.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Wayfair Inc.'s net profit margin?
Wayfair Inc. (W) had a net profit margin of -2.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Wayfair Inc.'s free cash flow?
Wayfair Inc. (W) generated $464.0M in free cash flow during fiscal year 2025. This represents a 90.2% 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 Wayfair Inc.'s operating cash flow?
Wayfair Inc. (W) generated $534.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Wayfair Inc.'s total assets?
Wayfair Inc. (W) had $3.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Wayfair Inc.'s capital expenditures?
Wayfair Inc. (W) invested $70.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Wayfair Inc.'s current ratio?
Wayfair Inc. (W) had a current ratio of 0.94 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Wayfair Inc.'s return on assets (ROA)?
Wayfair Inc. (W) had a return on assets of -9.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Wayfair Inc.'s P/E ratio?
Wayfair Inc. (W) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $14.5B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Wayfair Inc.'s price-to-sales ratio?
Wayfair Inc. (W) trades at 1.1x sales, its market capitalization divided by revenue of $12.9B revenue, trailing 12 months to June 30, 2026. The market capitalization is $14.5B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Wayfair Inc.'s debt-to-equity ratio negative or not reported?
Wayfair Inc. (W) has negative shareholder equity of -$2.8B as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Wayfair Inc.'s Altman Z-Score?
Wayfair Inc. (W) has an Altman Z-Score of 3.03, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Wayfair Inc.'s Piotroski F-Score?
Wayfair Inc. (W) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Wayfair Inc.'s earnings high quality?
Wayfair Inc. (W) reported a net loss of $313.0M while generating $534.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.
Can Wayfair Inc. cover its interest payments?
Wayfair Inc. (W) has an interest coverage ratio of 0.10x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Wayfair Inc.?
Wayfair Inc. (W) scores 25 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.