Wayfair Inc. (W) 10-Year Financial Performance & Capital Metrics

W •

Consumer CyclicalSpecialty RetailHome Furnishings and Decor Retail

AboutWayfair Inc. engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands. The company was founded in 2002 and is headquartered in Boston, Massachusetts.Show more

Revenue $12.46B +5.1%
EBITDA $322M +535.1%
Net Income -$313M +36.4%
EPS (Diluted) -2.42 +39.5%
Gross Margin 30.22% +0.2%
EBITDA Margin 2.58% +514.0%
Operating Margin 0.14% +103.5%
Net Margin -2.51% +39.5%
ROE -
ROIC -
Debt/Equity -
Interest Coverage 0.20 +101.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Efficient asset utilization: 3.6x turnover

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y18.67%

5Y-2.51%

3Y0.65%

TTM3.35%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM39.59%

EPS CAGR

10Y-

5Y-

3Y-

TTM43.08%

ROCE

10Y Avg-46.55%

5Y Avg-34.21%

3Y Avg-31.8%

Latest1.42%

Peer Comparison

Home Furnishings and Decor Retail

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RHRh	3.1B	165.71	45.78	5.01%	3.22%	32.85%
WSMWilliams-Sonoma, Inc.	25.32B	205.65	23.40	-0.5%	13.97%	53.45%	4.5%	0.63
BWMXBetterware de México, S.A.P.I. de C.V.	618.34M	16.57	14.97	8.39%	7.21%	79.36%	15.03%	4.45
TBHCThe Brand House Collective, Inc.	24.26M	1.08	-0.61	-5.83%	-7.56%
BBBYBed Bath & Beyond Inc.	367.04M	5.33	-3.78	-25.12%	-8.1%	-38.83%		0.10
DIBS1stdibs.Com, Inc.	176.12M	4.81	-9.82	4.22%	-19.94%	-18.97%		0.22
WWayfair Inc.	9.92B	76.33	-31.54	5.11%	-2.66%		4.68%

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	3.38B	4.72B	6.78B	9.13B	14.15B	13.71B	12.22B	12B	11.85B	12.46B
Revenue Growth %	50.25%	39.66%	43.6%	34.63%	54.98%	-3.09%	-10.87%	-1.76%	-1.27%	5.11%
Cost of Goods Sold+	2.57B	3.6B	5.19B	6.98B	10.03B	9.81B	8.8B	8.34B	8.28B	8.69B
COGS % of Revenue	76.1%	76.3%	76.59%	76.47%	70.93%	71.59%	72.04%	69.45%	69.84%	69.78%
Gross Profit+	807.81M	1.12B	1.59B	2.15B	4.11B	3.9B	3.42B	3.67B	3.57B	3.77B
Gross Margin %	23.9%	23.7%	23.41%	23.53%	29.07%	28.41%	27.96%	30.55%	30.16%	30.22%
Gross Profit Growth %	49.39%	38.5%	41.82%	35.33%	91.5%	-5.28%	-12.3%	7.35%	-2.54%	5.34%
Operating Expenses+	1B	1.35B	2.06B	3.08B	3.75B	3.98B	4.8B	4.48B	4.04B	3.75B
OpEx % of Revenue	29.7%	28.69%	30.39%	33.72%	26.52%	29.01%	39.29%	37.32%	34.05%	30.09%
Selling, General & Admin	1B	1.34B	2.06B	3.08B	3.24B	3.98B	4.73B	4.4B	3.92B	3.42B
SG&A % of Revenue	29.7%	28.48%	30.41%	33.71%	22.92%	29.01%	38.71%	36.67%	33.07%	27.44%
Research & Development	21.6M	34.5M	51.3M	82M	132M	171M	224M	0	257M	0
R&D % of Revenue	0.64%	0.73%	0.76%	0.9%	0.93%	1.25%	1.83%	-	2.17%	-
Other Operating Expenses	-21.6M	-24.93M	-52.96M	-81.73M	377.82M	-171M	-154M	79M	-141M	330M
Operating Income+	-196.22M	-235.45M	-473.28M	-929.94M	360.35M	-94M	-1.38B	-813M	-461M	17M
Operating Margin %	-5.8%	-4.99%	-6.98%	-10.19%	2.55%	-0.69%	-11.33%	-6.77%	-3.89%	0.14%
Operating Income Growth %	-141.2%	-20%	-101.01%	-96.49%	138.75%	-126.09%	-1372.34%	41.26%	43.3%	103.69%
EBITDA+	-140.65M	-148.43M	-349.74M	-737.52M	646.06M	228M	-1.01B	-396M	-74M	322M
EBITDA Margin %	-4.16%	-3.14%	-5.16%	-8.08%	4.57%	1.66%	-8.29%	-3.3%	-0.62%	2.58%
EBITDA Growth %	-187.59%	-5.54%	-135.62%	-110.88%	187.6%	-64.71%	-544.3%	60.91%	81.31%	535.14%
D&A (Non-Cash Add-back)	55.57M	87.02M	123.54M	192.42M	285.71M	322M	371M	417M	387M	305M
EBIT	-196.22M	-234.69M	-473.48M	-927M	351.72M	-98M	-1.29B	-712M	-453M	-23M
Net Interest Income+	694K	-9.43M	-28.56M	-55M	-146M	-32M	-27M	-17M	-29M	-83M
Interest Income	694K	0	0	0	0	0	0	0	0	0
Interest Expense	0	9.43M	28.56M	55M	146M	32M	27M	17M	29M	83M
Other Income/Expense	2.45M	-8.68M	-28.76M	-51.63M	-155.03M	-36M	65M	84M	-21M	-323M
Pretax Income+	-193.77M	-244.13M	-502.04M	-981.57M	205.32M	-130M	-1.32B	-729M	-482M	-306M
Pretax Margin %	-5.73%	-5.17%	-7.41%	-10.75%	1.45%	-0.95%	-10.8%	-6.07%	-4.07%	-2.46%
Income Tax+	608K	486K	2.04M	3.01M	20.32M	1M	12M	9M	10M	7M
Effective Tax Rate %	100.31%	100.2%	100.41%	100.31%	90.1%	100.77%	100.91%	101.23%	102.07%	102.29%
Net Income+	-194.38M	-244.61M	-504.08M	-984.58M	185M	-131M	-1.33B	-738M	-492M	-313M
Net Margin %	-5.75%	-5.18%	-7.44%	-10.79%	1.31%	-0.96%	-10.89%	-6.15%	-4.15%	-2.51%
Net Income Growth %	-150.99%	-25.85%	-106.07%	-95.32%	118.79%	-170.81%	-916.03%	44.55%	33.33%	36.38%
Net Income (Continuing)	-194.38M	-244.61M	-504.08M	-984.58M	185M	-131M	-1.33B	-738M	-492M	-313M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-2.29	-2.81	-5.63	-10.68	1.86	-1.26	-12.56	-6.47	-4.00	-2.42
EPS Growth %	-148.91%	-22.71%	-100.36%	-89.7%	117.42%	-167.74%	-896.83%	48.49%	38.18%	39.5%
EPS (Basic)	-2.29	-2.81	-5.63	-10.68	1.93	-1.26	-12.56	-6.47	-4.00	-2.42
Diluted Shares Outstanding	84.98M	86.98M	89.47M	92.2M	99.34M	104M	106M	114M	123M	130.34M
Basic Shares Outstanding	84.98M	86.98M	89.47M	92.2M	95.83M	104M	106M	114M	123M	130.34M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	477.09M	816.82M	1.26B	1.38B	3.05B	3.01B	1.93B	1.85B	1.88B	2B
Cash & Short-Term Investments	348.58M	619.99M	963.74M	987M	2.59B	2.4B	1.28B	1.35B	1.37B	1.54B
Cash Only	279.84M	558.96M	849.46M	582.75M	2.13B	1.71B	1.05B	1.32B	1.32B	1.48B
Short-Term Investments	68.74M	61.03M	114.28M	404.25M	462M	693M	228M	29M	56M	66M
Accounts Receivable	54.16M	80.83M	100.11M	148.05M	172M	296M	341M	234M	290M	132M
Days Sales Outstanding	5.85	6.25	5.39	5.92	4.44	7.88	10.19	7.12	8.93	3.87
Inventory	18.55M	28.04M	46.16M	61.69M	52M	69M	90M	75M	76M	71M
Days Inventory Outstanding	2.63	2.84	3.25	3.23	1.89	2.57	3.73	3.28	3.35	2.98
Other Current Assets	34.33M	54.48M	114.92M	134.22M	180M	155M	129M	114M	73M	256M
Total Non-Current Assets+	284.59M	396.58M	634.91M	1.58B	1.52B	1.56B	1.65B	1.62B	1.58B	1.44B
Property, Plant & Equipment	239.35M	361.14M	606.98M	1.39B	1.49B	1.52B	1.61B	1.57B	1.53B	1.38B
Fixed Asset Turnover	14.12x	13.07x	11.17x	6.58x	9.48x	9.00x	7.57x	7.65x	7.76x	9.04x
Goodwill	1.92M	1.92M	2.1M	400K	400K	0	0	0	0	0
Intangible Assets	2.31M	1.18M	485K	18.41M	16.6M	16M	15M	14M	13M	0
Long-Term Investments	30.97M	21.56M	6.53M	155.69M	0	8M	11M	14M	15M	0
Other Non-Current Assets	10.04M	10.78M	18.83M	13.47M	15M	11M	8M	23M	26M	61M
Total Assets+	761.68M	1.21B	1.89B	2.95B	4.57B	4.57B	3.58B	3.47B	3.46B	3.44B
Asset Turnover	4.44x	3.89x	3.59x	3.09x	3.10x	3.00x	3.41x	3.46x	3.43x	3.62x
Asset Growth %	9.66%	59.31%	55.83%	56.18%	54.76%	0%	-21.66%	-2.96%	-0.43%	-0.55%
Total Current Liabilities+	557.22M	739.75M	1.14B	1.61B	2.17B	2.22B	2.07B	2.18B	2.37B	2.13B
Accounts Payable	379.49M	440.37M	650.17M	908.1M	1.16B	1.17B	1.2B	1.23B	1.25B	1.2B
Days Payables Outstanding	53.84	44.62	45.7	47.49	42.09	43.37	49.93	54.03	54.95	50.48
Short-Term Debt	0	0	0	0	0	0	0	117M	236M	0
Deferred Revenue (Current)	65.89M	94.12M	148.06M	167.64M	293M	299M	0	195M	212M	0
Other Current Liabilities	66.06M	104.44M	169.92M	251.56M	318M	320M	266M	217M	228M	2.13B
Current Ratio	0.86x	1.10x	1.10x	0.85x	1.41x	1.36x	0.93x	0.85x	0.79x	0.94x
Quick Ratio	0.82x	1.07x	1.06x	0.82x	1.38x	1.33x	0.89x	0.82x	0.76x	0.91x
Cash Conversion Cycle	-45.36	-35.53	-37.07	-38.34	-35.76	-32.92	-36.01	-43.63	-42.66	-43.63
Total Non-Current Liabilities+	125.08M	521.98M	1.08B	2.29B	3.6B	3.97B	4.06B	4B	3.84B	4.09B
Long-Term Debt	0	332.9M	738.9M	1.46B	2.66B	3.05B	3.14B	3.09B	2.88B	4.07B
Capital Lease Obligations	28.9M	82.58M	183.06M	822.6M	870M	892M	893M	862M	929M	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	96.18M	106.49M	160.39M	6.94M	67M	28M	28M	44M	33M	25M
Total Liabilities	682.3M	1.26B	2.22B	3.9B	5.76B	6.19B	6.13B	6.18B	6.21B	6.22B
Total Debt+	68.85M	453.03M	982.05M	2.37B	3.63B	4.05B	4.16B	4.2B	4.22B	4.07B
Net Debt	-210.99M	-105.93M	132.59M	1.79B	1.5B	2.35B	3.1B	2.88B	2.9B	2.59B
Debt / Equity	0.87x	-	-	-	-	-	-	-	-	-
Debt / EBITDA	-	-	-	-	5.61x	17.78x	-	-	-	12.63x
Net Debt / EBITDA	-	-	-	-	2.32x	10.30x	-	-	-	8.05x
Interest Coverage	-	-24.96x	-16.57x	-16.91x	2.47x	-2.94x	-51.26x	-47.82x	-15.90x	0.20x
Total Equity+	79.38M	-48.33M	-330.72M	-944.21M	-1.19B	-1.62B	-2.55B	-2.71B	-2.75B	-2.78B
Equity Growth %	-67.27%	-160.88%	-584.31%	-185.5%	-26.24%	-35.82%	-57.5%	-6.16%	-1.77%	-0.98%
Book Value per Share	0.93	-0.56	-3.70	-10.24	-12.00	-15.57	-24.06	-23.75	-22.40	-21.34
Total Shareholders' Equity	79.38M	-48.33M	-330.72M	-944.21M	-1.19B	-1.62B	-2.55B	-2.71B	-2.75B	-2.78B
Common Stock	86K	88K	91K	94K	0	0	0	0	0	0
Retained Earnings	-329.94M	-583.27M	-1.08B	-2.07B	-1.89B	-1.95B	-3.28B	-4.02B	-4.51B	-4.82B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	13K	-2.36M	-1.78M	-1.43M	-5M	-7M	-7M	-5M	4M	-32M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	62.81M	33.63M	84.86M	-196.82M	1.42B	410M	-674M	349M	317M	534M
Operating CF Margin %	1.86%	0.71%	1.25%	-2.16%	10.02%	2.99%	-5.52%	2.91%	2.67%	4.29%
Operating CF Growth %	-53.51%	-46.45%	152.31%	-331.93%	819.82%	-71.06%	-264.39%	151.78%	-9.17%	68.45%
Net Income	-194.38M	-244.61M	-504.08M	-984.58M	185M	-131M	-1.33B	-738M	-492M	-313M
Depreciation & Amortization	55.57M	87.02M	123.54M	192.42M	285.71M	322M	371M	417M	387M	305M
Stock-Based Compensation	49.4M	67.84M	127.56M	227.45M	276M	344M	513M	605M	395M	335M
Deferred Taxes	0	0	0	0	0	12M	0	0	0	0
Other Non-Cash Items	331K	7.03M	22.53M	60.42M	146.93M	13M	-8M	-81M	16M	207M
Working Capital Changes	151.88M	116.36M	315.31M	307.48M	522.89M	-150M	-219M	146M	11M	0
Change in Receivables	-9.22M	-18.17M	-12.79M	-49.19M	-14.73M	-118M	-48M	132M	-35M	29M
Change in Inventory	1.35M	-9.45M	-18.32M	-15.63M	9.95M	-17M	-21M	16M	-2M	6M
Change in Payables	126.01M	104.18M	285.06M	330.32M	531.53M	9M	-177M	-18M	38M	-95M
Cash from Investing+	-95.88M	-130.34M	-260.29M	-854.84M	-236.07M	-515M	1M	-152M	-262M	-219M
Capital Expenditures	-128.09M	-146.88M	-221.96M	-400.88M	-334.43M	-280M	-458M	-148M	-73M	-70M
CapEx % of Revenue	3.79%	3.11%	3.27%	4.39%	2.36%	2.04%	3.75%	1.23%	0.62%	0.56%
Acquisitions	1.51M	46.43M	0	0	0	0	272M	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1M	-46.43M	-398K	-15.57M	-124K	5M	-272M	-201M	-161M	-135M
Cash from Financing+	-20.88M	374.97M	467.46M	786.5M	352.59M	-303M	16M	77M	-69M	-129M
Debt Issued (Net)	0	420.45M	562.05M	935M	988M	0	171M	164M	-72M	0
Equity Issued (Net)	209K	244K	138K	-1000K	-1000K	-1000K	-1000K	0	0	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	-380.24M	-300M	-75M	0	0	0
Other Financing	-21.09M	-45.72M	-94.72M	-146.37M	-255.18M	-3M	-80M	-87M	3M	-129M
Net Change in Cash	-54.34M	279.12M	290.5M	-266.71M	1.55B	-424M	-656M	276M	-6M	156M
Free Cash Flow+	-65.27M	-113.25M	-137.09M	-597.7M	1.08B	130M	-1.13B	-2M	83M	464M
FCF Margin %	-1.93%	-2.4%	-2.02%	-6.55%	7.65%	0.95%	-9.26%	-0.02%	0.7%	3.72%
FCF Growth %	-189.49%	-73.5%	-21.06%	-335.98%	281.08%	-87.99%	-970.77%	99.82%	4250%	459.04%
FCF per Share	-0.77	-1.30	-1.53	-6.48	10.90	1.25	-10.68	-0.02	0.67	3.56
FCF Conversion (FCF/Net Income)	-0.32x	-0.14x	-0.17x	0.20x	7.66x	-3.13x	0.51x	-0.47x	-0.64x	-1.71x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-120.76%	-1575.36%	-	-	-	-	-	-	-	-
Return on Invested Capital (ROIC)	-	-	-	-216.33%	47.13%	-13.65%	-161.68%	-167.05%	-212.77%	-
Gross Margin	23.9%	23.7%	23.41%	23.53%	29.07%	28.41%	27.96%	30.55%	30.16%	30.22%
Net Margin	-5.75%	-5.18%	-7.44%	-10.79%	1.31%	-0.96%	-10.89%	-6.15%	-4.15%	-2.51%
Debt / Equity	0.87x	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-24.96x	-16.57x	-16.91x	2.47x	-2.94x	-51.26x	-47.82x	-15.90x	0.20x
FCF Conversion	-0.32x	-0.14x	-0.17x	0.20x	7.66x	-3.13x	0.51x	-0.47x	-0.64x	-1.71x
Revenue Growth	50.25%	39.66%	43.6%	34.63%	54.98%	-3.09%	-10.87%	-1.76%	-1.27%	5.11%

US Stock Screener

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Wayfair Inc. (W) 10-Year Financial Performance & Capital Metrics

W •

Consumer CyclicalSpecialty RetailHome Furnishings and Decor Retail

Revenue $12.46B +5.1%
EBITDA $322M +535.1%
Net Income -$313M +36.4%
EPS (Diluted) -2.42 +39.5%
Gross Margin 30.22% +0.2%
EBITDA Margin 2.58% +514.0%
Operating Margin 0.14% +103.5%
Net Margin -2.51% +39.5%
ROE -
ROIC -
Debt/Equity -
Interest Coverage 0.20 +101.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Efficient asset utilization: 3.6x turnover

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y18.67%

5Y-2.51%

3Y0.65%

TTM3.35%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM39.59%

EPS CAGR

10Y-

5Y-

3Y-

TTM43.08%

ROCE

10Y Avg-46.55%

5Y Avg-34.21%

3Y Avg-31.8%

Latest1.42%

Peer Comparison

Home Furnishings and Decor Retail

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RHRh	3.1B	165.71	45.78	5.01%	3.22%	32.85%
WSMWilliams-Sonoma, Inc.	25.32B	205.65	23.40	-0.5%	13.97%	53.45%	4.5%	0.63
BWMXBetterware de México, S.A.P.I. de C.V.	618.34M	16.57	14.97	8.39%	7.21%	79.36%	15.03%	4.45
TBHCThe Brand House Collective, Inc.	24.26M	1.08	-0.61	-5.83%	-7.56%
BBBYBed Bath & Beyond Inc.	367.04M	5.33	-3.78	-25.12%	-8.1%	-38.83%		0.10
DIBS1stdibs.Com, Inc.	176.12M	4.81	-9.82	4.22%	-19.94%	-18.97%		0.22
WWayfair Inc.	9.92B	76.33	-31.54	5.11%	-2.66%		4.68%

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	3.38B	4.72B	6.78B	9.13B	14.15B	13.71B	12.22B	12B	11.85B	12.46B
Revenue Growth %	50.25%	39.66%	43.6%	34.63%	54.98%	-3.09%	-10.87%	-1.76%	-1.27%	5.11%
Cost of Goods Sold+	2.57B	3.6B	5.19B	6.98B	10.03B	9.81B	8.8B	8.34B	8.28B	8.69B
COGS % of Revenue	76.1%	76.3%	76.59%	76.47%	70.93%	71.59%	72.04%	69.45%	69.84%	69.78%
Gross Profit+	807.81M	1.12B	1.59B	2.15B	4.11B	3.9B	3.42B	3.67B	3.57B	3.77B
Gross Margin %	23.9%	23.7%	23.41%	23.53%	29.07%	28.41%	27.96%	30.55%	30.16%	30.22%
Gross Profit Growth %	49.39%	38.5%	41.82%	35.33%	91.5%	-5.28%	-12.3%	7.35%	-2.54%	5.34%
Operating Expenses+	1B	1.35B	2.06B	3.08B	3.75B	3.98B	4.8B	4.48B	4.04B	3.75B
OpEx % of Revenue	29.7%	28.69%	30.39%	33.72%	26.52%	29.01%	39.29%	37.32%	34.05%	30.09%
Selling, General & Admin	1B	1.34B	2.06B	3.08B	3.24B	3.98B	4.73B	4.4B	3.92B	3.42B
SG&A % of Revenue	29.7%	28.48%	30.41%	33.71%	22.92%	29.01%	38.71%	36.67%	33.07%	27.44%
Research & Development	21.6M	34.5M	51.3M	82M	132M	171M	224M	0	257M	0
R&D % of Revenue	0.64%	0.73%	0.76%	0.9%	0.93%	1.25%	1.83%	-	2.17%	-
Other Operating Expenses	-21.6M	-24.93M	-52.96M	-81.73M	377.82M	-171M	-154M	79M	-141M	330M
Operating Income+	-196.22M	-235.45M	-473.28M	-929.94M	360.35M	-94M	-1.38B	-813M	-461M	17M
Operating Margin %	-5.8%	-4.99%	-6.98%	-10.19%	2.55%	-0.69%	-11.33%	-6.77%	-3.89%	0.14%
Operating Income Growth %	-141.2%	-20%	-101.01%	-96.49%	138.75%	-126.09%	-1372.34%	41.26%	43.3%	103.69%
EBITDA+	-140.65M	-148.43M	-349.74M	-737.52M	646.06M	228M	-1.01B	-396M	-74M	322M
EBITDA Margin %	-4.16%	-3.14%	-5.16%	-8.08%	4.57%	1.66%	-8.29%	-3.3%	-0.62%	2.58%
EBITDA Growth %	-187.59%	-5.54%	-135.62%	-110.88%	187.6%	-64.71%	-544.3%	60.91%	81.31%	535.14%
D&A (Non-Cash Add-back)	55.57M	87.02M	123.54M	192.42M	285.71M	322M	371M	417M	387M	305M
EBIT	-196.22M	-234.69M	-473.48M	-927M	351.72M	-98M	-1.29B	-712M	-453M	-23M
Net Interest Income+	694K	-9.43M	-28.56M	-55M	-146M	-32M	-27M	-17M	-29M	-83M
Interest Income	694K	0	0	0	0	0	0	0	0	0
Interest Expense	0	9.43M	28.56M	55M	146M	32M	27M	17M	29M	83M
Other Income/Expense	2.45M	-8.68M	-28.76M	-51.63M	-155.03M	-36M	65M	84M	-21M	-323M
Pretax Income+	-193.77M	-244.13M	-502.04M	-981.57M	205.32M	-130M	-1.32B	-729M	-482M	-306M
Pretax Margin %	-5.73%	-5.17%	-7.41%	-10.75%	1.45%	-0.95%	-10.8%	-6.07%	-4.07%	-2.46%
Income Tax+	608K	486K	2.04M	3.01M	20.32M	1M	12M	9M	10M	7M
Effective Tax Rate %	100.31%	100.2%	100.41%	100.31%	90.1%	100.77%	100.91%	101.23%	102.07%	102.29%
Net Income+	-194.38M	-244.61M	-504.08M	-984.58M	185M	-131M	-1.33B	-738M	-492M	-313M
Net Margin %	-5.75%	-5.18%	-7.44%	-10.79%	1.31%	-0.96%	-10.89%	-6.15%	-4.15%	-2.51%
Net Income Growth %	-150.99%	-25.85%	-106.07%	-95.32%	118.79%	-170.81%	-916.03%	44.55%	33.33%	36.38%
Net Income (Continuing)	-194.38M	-244.61M	-504.08M	-984.58M	185M	-131M	-1.33B	-738M	-492M	-313M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-2.29	-2.81	-5.63	-10.68	1.86	-1.26	-12.56	-6.47	-4.00	-2.42
EPS Growth %	-148.91%	-22.71%	-100.36%	-89.7%	117.42%	-167.74%	-896.83%	48.49%	38.18%	39.5%
EPS (Basic)	-2.29	-2.81	-5.63	-10.68	1.93	-1.26	-12.56	-6.47	-4.00	-2.42
Diluted Shares Outstanding	84.98M	86.98M	89.47M	92.2M	99.34M	104M	106M	114M	123M	130.34M
Basic Shares Outstanding	84.98M	86.98M	89.47M	92.2M	95.83M	104M	106M	114M	123M	130.34M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	477.09M	816.82M	1.26B	1.38B	3.05B	3.01B	1.93B	1.85B	1.88B	2B
Cash & Short-Term Investments	348.58M	619.99M	963.74M	987M	2.59B	2.4B	1.28B	1.35B	1.37B	1.54B
Cash Only	279.84M	558.96M	849.46M	582.75M	2.13B	1.71B	1.05B	1.32B	1.32B	1.48B
Short-Term Investments	68.74M	61.03M	114.28M	404.25M	462M	693M	228M	29M	56M	66M
Accounts Receivable	54.16M	80.83M	100.11M	148.05M	172M	296M	341M	234M	290M	132M
Days Sales Outstanding	5.85	6.25	5.39	5.92	4.44	7.88	10.19	7.12	8.93	3.87
Inventory	18.55M	28.04M	46.16M	61.69M	52M	69M	90M	75M	76M	71M
Days Inventory Outstanding	2.63	2.84	3.25	3.23	1.89	2.57	3.73	3.28	3.35	2.98
Other Current Assets	34.33M	54.48M	114.92M	134.22M	180M	155M	129M	114M	73M	256M
Total Non-Current Assets+	284.59M	396.58M	634.91M	1.58B	1.52B	1.56B	1.65B	1.62B	1.58B	1.44B
Property, Plant & Equipment	239.35M	361.14M	606.98M	1.39B	1.49B	1.52B	1.61B	1.57B	1.53B	1.38B
Fixed Asset Turnover	14.12x	13.07x	11.17x	6.58x	9.48x	9.00x	7.57x	7.65x	7.76x	9.04x
Goodwill	1.92M	1.92M	2.1M	400K	400K	0	0	0	0	0
Intangible Assets	2.31M	1.18M	485K	18.41M	16.6M	16M	15M	14M	13M	0
Long-Term Investments	30.97M	21.56M	6.53M	155.69M	0	8M	11M	14M	15M	0
Other Non-Current Assets	10.04M	10.78M	18.83M	13.47M	15M	11M	8M	23M	26M	61M
Total Assets+	761.68M	1.21B	1.89B	2.95B	4.57B	4.57B	3.58B	3.47B	3.46B	3.44B
Asset Turnover	4.44x	3.89x	3.59x	3.09x	3.10x	3.00x	3.41x	3.46x	3.43x	3.62x
Asset Growth %	9.66%	59.31%	55.83%	56.18%	54.76%	0%	-21.66%	-2.96%	-0.43%	-0.55%
Total Current Liabilities+	557.22M	739.75M	1.14B	1.61B	2.17B	2.22B	2.07B	2.18B	2.37B	2.13B
Accounts Payable	379.49M	440.37M	650.17M	908.1M	1.16B	1.17B	1.2B	1.23B	1.25B	1.2B
Days Payables Outstanding	53.84	44.62	45.7	47.49	42.09	43.37	49.93	54.03	54.95	50.48
Short-Term Debt	0	0	0	0	0	0	0	117M	236M	0
Deferred Revenue (Current)	65.89M	94.12M	148.06M	167.64M	293M	299M	0	195M	212M	0
Other Current Liabilities	66.06M	104.44M	169.92M	251.56M	318M	320M	266M	217M	228M	2.13B
Current Ratio	0.86x	1.10x	1.10x	0.85x	1.41x	1.36x	0.93x	0.85x	0.79x	0.94x
Quick Ratio	0.82x	1.07x	1.06x	0.82x	1.38x	1.33x	0.89x	0.82x	0.76x	0.91x
Cash Conversion Cycle	-45.36	-35.53	-37.07	-38.34	-35.76	-32.92	-36.01	-43.63	-42.66	-43.63
Total Non-Current Liabilities+	125.08M	521.98M	1.08B	2.29B	3.6B	3.97B	4.06B	4B	3.84B	4.09B
Long-Term Debt	0	332.9M	738.9M	1.46B	2.66B	3.05B	3.14B	3.09B	2.88B	4.07B
Capital Lease Obligations	28.9M	82.58M	183.06M	822.6M	870M	892M	893M	862M	929M	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	96.18M	106.49M	160.39M	6.94M	67M	28M	28M	44M	33M	25M
Total Liabilities	682.3M	1.26B	2.22B	3.9B	5.76B	6.19B	6.13B	6.18B	6.21B	6.22B
Total Debt+	68.85M	453.03M	982.05M	2.37B	3.63B	4.05B	4.16B	4.2B	4.22B	4.07B
Net Debt	-210.99M	-105.93M	132.59M	1.79B	1.5B	2.35B	3.1B	2.88B	2.9B	2.59B
Debt / Equity	0.87x	-	-	-	-	-	-	-	-	-
Debt / EBITDA	-	-	-	-	5.61x	17.78x	-	-	-	12.63x
Net Debt / EBITDA	-	-	-	-	2.32x	10.30x	-	-	-	8.05x
Interest Coverage	-	-24.96x	-16.57x	-16.91x	2.47x	-2.94x	-51.26x	-47.82x	-15.90x	0.20x
Total Equity+	79.38M	-48.33M	-330.72M	-944.21M	-1.19B	-1.62B	-2.55B	-2.71B	-2.75B	-2.78B
Equity Growth %	-67.27%	-160.88%	-584.31%	-185.5%	-26.24%	-35.82%	-57.5%	-6.16%	-1.77%	-0.98%
Book Value per Share	0.93	-0.56	-3.70	-10.24	-12.00	-15.57	-24.06	-23.75	-22.40	-21.34
Total Shareholders' Equity	79.38M	-48.33M	-330.72M	-944.21M	-1.19B	-1.62B	-2.55B	-2.71B	-2.75B	-2.78B
Common Stock	86K	88K	91K	94K	0	0	0	0	0	0
Retained Earnings	-329.94M	-583.27M	-1.08B	-2.07B	-1.89B	-1.95B	-3.28B	-4.02B	-4.51B	-4.82B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	13K	-2.36M	-1.78M	-1.43M	-5M	-7M	-7M	-5M	4M	-32M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	62.81M	33.63M	84.86M	-196.82M	1.42B	410M	-674M	349M	317M	534M
Operating CF Margin %	1.86%	0.71%	1.25%	-2.16%	10.02%	2.99%	-5.52%	2.91%	2.67%	4.29%
Operating CF Growth %	-53.51%	-46.45%	152.31%	-331.93%	819.82%	-71.06%	-264.39%	151.78%	-9.17%	68.45%
Net Income	-194.38M	-244.61M	-504.08M	-984.58M	185M	-131M	-1.33B	-738M	-492M	-313M
Depreciation & Amortization	55.57M	87.02M	123.54M	192.42M	285.71M	322M	371M	417M	387M	305M
Stock-Based Compensation	49.4M	67.84M	127.56M	227.45M	276M	344M	513M	605M	395M	335M
Deferred Taxes	0	0	0	0	0	12M	0	0	0	0
Other Non-Cash Items	331K	7.03M	22.53M	60.42M	146.93M	13M	-8M	-81M	16M	207M
Working Capital Changes	151.88M	116.36M	315.31M	307.48M	522.89M	-150M	-219M	146M	11M	0
Change in Receivables	-9.22M	-18.17M	-12.79M	-49.19M	-14.73M	-118M	-48M	132M	-35M	29M
Change in Inventory	1.35M	-9.45M	-18.32M	-15.63M	9.95M	-17M	-21M	16M	-2M	6M
Change in Payables	126.01M	104.18M	285.06M	330.32M	531.53M	9M	-177M	-18M	38M	-95M
Cash from Investing+	-95.88M	-130.34M	-260.29M	-854.84M	-236.07M	-515M	1M	-152M	-262M	-219M
Capital Expenditures	-128.09M	-146.88M	-221.96M	-400.88M	-334.43M	-280M	-458M	-148M	-73M	-70M
CapEx % of Revenue	3.79%	3.11%	3.27%	4.39%	2.36%	2.04%	3.75%	1.23%	0.62%	0.56%
Acquisitions	1.51M	46.43M	0	0	0	0	272M	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1M	-46.43M	-398K	-15.57M	-124K	5M	-272M	-201M	-161M	-135M
Cash from Financing+	-20.88M	374.97M	467.46M	786.5M	352.59M	-303M	16M	77M	-69M	-129M
Debt Issued (Net)	0	420.45M	562.05M	935M	988M	0	171M	164M	-72M	0
Equity Issued (Net)	209K	244K	138K	-1000K	-1000K	-1000K	-1000K	0	0	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	-380.24M	-300M	-75M	0	0	0
Other Financing	-21.09M	-45.72M	-94.72M	-146.37M	-255.18M	-3M	-80M	-87M	3M	-129M
Net Change in Cash	-54.34M	279.12M	290.5M	-266.71M	1.55B	-424M	-656M	276M	-6M	156M
Free Cash Flow+	-65.27M	-113.25M	-137.09M	-597.7M	1.08B	130M	-1.13B	-2M	83M	464M
FCF Margin %	-1.93%	-2.4%	-2.02%	-6.55%	7.65%	0.95%	-9.26%	-0.02%	0.7%	3.72%
FCF Growth %	-189.49%	-73.5%	-21.06%	-335.98%	281.08%	-87.99%	-970.77%	99.82%	4250%	459.04%
FCF per Share	-0.77	-1.30	-1.53	-6.48	10.90	1.25	-10.68	-0.02	0.67	3.56
FCF Conversion (FCF/Net Income)	-0.32x	-0.14x	-0.17x	0.20x	7.66x	-3.13x	0.51x	-0.47x	-0.64x	-1.71x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-120.76%	-1575.36%	-	-	-	-	-	-	-	-
Return on Invested Capital (ROIC)	-	-	-	-216.33%	47.13%	-13.65%	-161.68%	-167.05%	-212.77%	-
Gross Margin	23.9%	23.7%	23.41%	23.53%	29.07%	28.41%	27.96%	30.55%	30.16%	30.22%
Net Margin	-5.75%	-5.18%	-7.44%	-10.79%	1.31%	-0.96%	-10.89%	-6.15%	-4.15%	-2.51%
Debt / Equity	0.87x	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-24.96x	-16.57x	-16.91x	2.47x	-2.94x	-51.26x	-47.82x	-15.90x	0.20x
FCF Conversion	-0.32x	-0.14x	-0.17x	0.20x	7.66x	-3.13x	0.51x	-0.47x	-0.64x	-1.71x
Revenue Growth	50.25%	39.66%	43.6%	34.63%	54.98%	-3.09%	-10.87%	-1.76%	-1.27%	5.11%

Wayfair Inc. (W) 10-Year Financial Performance & Capital Metrics

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Wayfair Inc. (W) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare W vs Peers

vs WSM

vs RH

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Dividend History

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