European Wax Center, Inc.(EWCZ)Earnings, Financials & Key Ratios

EWCZ•NASDAQ

$5.80

$272M mkt cap·26.4× P/E·Price updated May 6, 2026

SectorConsumer Defensive IndustryHousehold Products Sub-IndustryBeauty Services and Direct Selling

AboutEuropean Wax Center, Inc. operates as the franchisor and operator of out-of-home waxing services in the United States. The company offers body and facial waxing services; and pre- and post-service products, including ingrown hair serums, exfoliating gels, brow shapers, and skin treatments. As of March 26, 2022, it had a portfolio of centers operating in 874 locations across 44 states, including 868 franchised centers and six corporate-owned centers. European Wax Center, Inc. was founded in 2004 and is headquartered in Plano, Texas.Show more

Revenue$217M-1.9%
EBITDA$68M+4.6%
Net Income$10M+20.2%
EPS (Diluted)0.22+29.4%
Gross Margin73.58%+2.7%
EBITDA Margin31.37%+6.6%
Operating Margin22.02%+9.4%
Net Margin4.82%+22.5%
ROE10.13%+42.7%
ROIC8.28%+12.8%
Debt/Equity4.16+25.7%
Interest Coverage1.87+12.4%

Technical→

EWCZ Key Insights

European Wax Center, Inc. (EWCZ) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓FCF machine: 25.8% free cash flow margin
✓Momentum leader: RS Rating 81 (top 19%)
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 5.5% through buybacks

✗Weaknesses

✗High debt to equity ratio of 4.2x

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

EWCZ Price & Volume

European Wax Center, Inc. (EWCZ) stock price & volume — 10-year historical chart

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EWCZ Growth Metrics

European Wax Center, Inc. (EWCZ) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years7.06%

3 Years6.68%

TTM-5.47%

Profit CAGR

10 Years-

5 Years-

3 Years14.82%

TTM2.33%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM13.84%

Return on Capital

10 Years4.25%

5 Years4.68%

3 Years6.58%

Last Year6.99%

EWCZ Recent Earnings

European Wax Center, Inc. (EWCZ) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 9/12 qtrs (75%)●Beat Revenue 7/12 qtrs (58%)

Q2 2026Latest

Mar 4, 2026

EPS

$0.10

Est $0.04

+150.0%

Revenue

$45M

Est $46M

-2.4%

Q4 2025

Nov 12, 2025

EPS

$0.25

Est $0.14

+78.6%

Revenue

$54M

Est $46M

+17.1%

Q3 2025

Aug 13, 2025

EPS

$0.27

Est $0.19

+42.1%

Revenue

$56M

Est $53M

+5.6%

Q2 2025

May 14, 2025

EPS

$0.22

Est $0.05

+340.0%

Revenue

$51M

Est $57M

-9.6%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Mar 4, 2026	$0.10vs $0.04+150.0%	$45Mvs $46M-2.4%
Q4 2025	Nov 12, 2025	$0.25vs $0.14+78.6%	$54Mvs $46M+17.1%
Q3 2025	Aug 13, 2025	$0.27vs $0.19+42.1%	$56Mvs $53M+5.6%
Q2 2025	May 14, 2025	$0.22vs $0.05+340.0%	$51Mvs $57M-9.6%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	FCF Yield	Debt / Equity
FATFAT Brands Inc.Direct Competitor	2.77M	0.16	-0.01	23.35%	-39.33%
SKINThe Beauty Health CompanyDirect Competitor	120.86M	0.93	-5.83	-10.02%	-3.16%	-15.42%	30.76%	6.20
LFSTLifeStance Health Group, Inc.Direct Competitor	2.85B	7.36	368	13.85%	0.68%	0.65%	3.85%	0.13
XPOFXponential Fitness, Inc.Direct Competitor	247.38M	6.63	-4.51	-1.71%	-11.08%		10%
REGNRegeneron Pharmaceuticals, Inc.Product Competitor	74.89B	720.78	17.38	0.99%	29.65%	14.32%	5.45%	0.09
SMRTSmartRent, Inc.Product Competitor	228.54M	1.19	-7	-26.16%	-45.45%	-29.32%		0.02
ULTAUlta Beauty, Inc.Product Competitor	24.48B	535.10	20.87	9.71%	9.31%	44.07%	4.36%	0.78
EYENational Vision Holdings, Inc.Product Competitor	1.8B	22.67	61.27	9%	1.49%	3.47%	4.08%	0.80

Compare EWCZ vs Peers

European Wax Center, Inc. (EWCZ) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs FAT

Most directly comparable listed peer for EWCZ.

Scale Benchmark

vs REGN

Larger-name benchmark to compare EWCZ against a more recognizable public peer.

Peer Set

Compare Top 5

vs FAT, SKIN, LFST, XPOF

EWCZ Income Statement

European Wax Center, Inc. (EWCZ) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Sales/Revenue	154.2M	103.41M	178.68M	207.35M	221.02M	216.92M	211.26M
Revenue Growth %	-	-32.94%	72.79%	16.05%	6.59%	-1.86%	-5.47%
Cost of Goods Sold	40.9M	35.51M	46.84M	59.23M	62.64M	57.31M	64.73M
COGS % of Revenue	26.52%	34.34%	26.22%	28.56%	28.34%	26.42%	-
Gross Profit	113.3M▲ 0%	67.9M▼ 40.1%	131.84M▲ 94.2%	148.12M▲ 12.4%	158.39M▲ 6.9%	159.6M▲ 0.8%	146.53M▲ 0%
Gross Margin %	73.48%	65.66%	73.78%	71.44%	71.66%	73.58%	69.36%
Gross Profit Growth %	-	-40.07%	94.17%	12.35%	6.93%	0.77%	-
Operating Expenses	101.63M	71.12M	107.28M	108.22M	113.91M	111.84M	95.03M
OpEx % of Revenue	65.91%	68.77%	60.04%	52.19%	51.54%	51.56%	-
Selling, General & Admin	86.1M	50.49M	86.61M	87.61M	93.35M	91.64M	85.02M
SG&A % of Revenue	55.84%	48.83%	48.47%	42.25%	42.24%	42.25%	-
Research & Development	18.18M	0	0	0	0	0	0
R&D % of Revenue	11.79%	-	-	-	-	-	-
Other Operating Expenses	-2.65M	20.63M	20.67M	20.61M	20.55M	20.2M	2M
Operating Income	11.67M▲ 0%	-3.22M▼ 127.6%	24.56M▲ 863.0%	39.9M▲ 62.4%	44.48M▲ 11.5%	47.76M▲ 7.4%	51.5M▲ 0%
Operating Margin %	7.57%	-3.11%	13.75%	19.24%	20.12%	22.02%	24.38%
Operating Income Growth %	-	-127.59%	863.03%	62.44%	11.48%	7.38%	-
EBITDA	27.2M	16.36M	44.9M	60.51M	65.03M	68.04M	71.56M
EBITDA Margin %	17.64%	15.82%	25.13%	29.18%	29.42%	31.37%	33.87%
EBITDA Growth %	-	-39.84%	174.37%	34.77%	7.47%	4.64%	5.02%
D&A (Non-Cash Add-back)	15.53M	19.58M	20.33M	20.61M	20.55M	20.28M	20.06M
EBIT	11.67M	-2.17M	24.37M	39.91M	44.48M	42.36M	46.5M
Net Interest Income	-15.55M	-18.28M	-20.29M	-23.63M	-26.69M	-25.49M	-26.2M
Interest Income	0	0	0	0	0	0	0
Interest Expense	15.55M	18.28M	20.29M	23.63M	26.69M	25.49M	26.2M
Other Income/Expense	-36.06M	-18.28M	-20.48M	-79.85M	-26.27M	-30.89M	-31.19M
Pretax Income	-24.4M▲ 0%	-21.5M▲ 11.9%	4.08M▲ 119.0%	-39.95M▼ 1079.0%	18.2M▲ 145.6%	16.87M▼ 7.3%	20.3M▲ 0%
Pretax Margin %	-15.82%	-20.79%	2.28%	-19.27%	8.24%	7.78%	9.61%
Income Tax	0	0	114K	-53.47M	6.16M	2.19M	3.9M
Effective Tax Rate %	0%	0%	2.79%	133.82%	33.84%	12.98%	19.22%
Net Income	-24.4M▲ 0%	-21.5M▲ 11.9%	6.91M▲ 132.2%	7.31M▲ 5.7%	8.7M▲ 19.1%	10.46M▲ 20.2%	11.24M▲ 0%
Net Margin %	-15.82%	-20.79%	3.87%	3.52%	3.94%	4.82%	5.32%
Net Income Growth %	-	11.89%	132.16%	5.73%	19.1%	20.2%	2.33%
Net Income (Continuing)	-24.4M	-21.5M	3.97M	13.51M	12.04M	14.68M	16.4M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	161.85M	51.3M	32.98M	27.55M	26.7M
EPS (Diluted)	-1.27▲ 0%	-0.81▲ 36.2%	-0.09▲ 88.6%	0.18▲ 294.6%	0.17▼ 5.6%	0.22▲ 29.4%	0.26▲ 0%
EPS Growth %	-	36.22%	88.58%	294.59%	-5.56%	29.41%	13.84%
EPS (Basic)	-1.27	-0.81	-0.09	0.18	0.17	0.22	-
Diluted Shares Outstanding	31.37M	31.37M	36.93M	40.15M	49.59M	46.87M	43.5M
Basic Shares Outstanding	31.37M	31.37M	36.93M	40.01M	49.51M	46.84M	43.38M
Dividend Payout Ratio	-	-	-	2808.52%	32.73%	7.54%	-

EWCZ Balance Sheet

European Wax Center, Inc. (EWCZ) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Total Current Assets	41.99M	56.88M	75.31M	86.32M	95.5M	87.84M	108.5M
Cash & Short-Term Investments	10.26M	36.72M	43.3M	44.22M	52.73M	49.73M	73.6M
Cash Only	10.26M	36.72M	43.3M	44.22M	52.73M	49.73M	73.6M
Short-Term Investments	0	0	0	0	0	0	0
Accounts Receivable	6.79M	5.07M	6.66M	6.93M	9.25M	7.28M	211.47M
Days Sales Outstanding	16.07	17.9	13.6	12.2	15.28	12.26	101.6
Inventory	22.04M	12.28M	19.42M	23.02M	20.77M	19.07M	15.62M
Days Inventory Outstanding	196.67	126.23	151.35	141.85	121.01	121.45	101.99
Other Current Assets	2.9M	2.49M	0	7.27M	7.66M	7M	-192.2M
Total Non-Current Assets	534.49M	550.02M	538.13M	629.72M	638.62M	619.23M	612.2M
Property, Plant & Equipment	4.46M	5.04M	3.86M	7.65M	6.3M	5.63M	13.44M
Fixed Asset Turnover	34.60x	20.52x	46.25x	27.12x	35.11x	38.56x	20.66x
Goodwill	328.55M	328.55M	328.55M	328.55M	39.11M	39.11M	39.11M
Intangible Assets	198.41M	213.27M	202M	183.03M	451.5M	432.16M	417.66M
Long-Term Investments	0	0	0	0	0	0	0
Other Non-Current Assets	3.08M	3.16M	3.72M	4.3M	3.09M	2.02M	7.24M
Total Assets	576.48M▲ 0%	606.9M▲ 5.3%	613.44M▲ 1.1%	716.03M▲ 16.7%	734.12M▲ 2.5%	707.07M▼ 3.7%	720.7M▲ 0%
Asset Turnover	0.27x	0.17x	0.29x	0.29x	0.30x	0.31x	0.30x
Asset Growth %	-	5.28%	1.08%	16.72%	2.53%	-3.68%	-6.6%
Total Current Liabilities	29.98M	18.45M	31.97M	32.81M	37.82M	36.11M	29.55M
Accounts Payable	3.84M	615K	7.68M	5.87M	6.05M	5.62M	0
Days Payables Outstanding	34.25	6.32	59.88	36.2	35.24	35.76	24.16
Short-Term Debt	2.29M	2.43M	5.63M	4M	4M	4M	5.22M
Deferred Revenue (Current)	2.46M	2.35M	3M	4.08M	5.26M	4.15M	16.1M
Other Current Liabilities	19.69M	9.15M	8.82M	9.15M	14.01M	13.98M	20.52M
Current Ratio	1.40x	3.08x	2.36x	2.63x	2.52x	2.43x	2.43x
Quick Ratio	0.67x	2.42x	1.75x	1.93x	1.98x	1.90x	1.90x
Cash Conversion Cycle	178.49	137.8	105.07	117.85	101.05	97.94	179.43
Total Non-Current Liabilities	232.19M	270.43M	240.23M	552.92M	581.29M	579.36M	586.34M
Long-Term Debt	222.99M	262.98M	172.61M	370.94M	372M	373.25M	2.56M
Capital Lease Obligations	0	0	0	4.23M	3.16M	2.32M	7M
Deferred Tax Liabilities	0	0	0	0	0	738K	2.95M
Other Non-Current Liabilities	2.39M	925K	60.84M	170.85M	199.52M	197.23M	1.18B
Total Liabilities	262.16M	288.88M	272.2M	585.73M	619.11M	615.48M	615.89M
Total Debt	225.28M	265.4M	178.23M	380.47M	380.39M	380.82M	7.77M
Net Debt	215.01M	228.68M	134.93M	336.25M	327.65M	331.09M	-65.83M
Debt / Equity	0.72x	0.83x	0.52x	2.92x	3.31x	4.16x	4.16x
Debt / EBITDA	8.28x	16.22x	3.97x	6.29x	5.85x	5.60x	0.11x
Net Debt / EBITDA	7.90x	13.98x	3.01x	5.56x	5.04x	4.87x	4.87x
Interest Coverage	0.75x	-0.18x	1.21x	1.69x	1.67x	1.87x	1.78x
Total Equity	314.32M▲ 0%	318.02M▲ 1.2%	341.24M▲ 7.3%	130.3M▼ 61.8%	115M▼ 11.7%	91.59M▼ 20.4%	104.81M▲ 0%
Equity Growth %	-	1.18%	7.3%	-61.81%	-11.74%	-20.36%	-40.84%
Book Value per Share	10.02	10.14	9.24	3.25	2.32	1.95	2.41
Total Shareholders' Equity	314.32M	318.02M	179.39M	79M	82.02M	64.05M	78.11M
Common Stock	265.79M	265.79M	0	0	0	0	-86.24M
Retained Earnings	-55.02M	-61.39M	-3.49M	-118.44M	-110.88M	-100.42M	-91.15M
Treasury Stock	0	0	0	-10.08M	-40M	-80.15M	0
Accumulated OCI	-735K	-527K	-45K	0	0	0	0
Minority Interest	0	0	161.85M	51.3M	32.98M	27.55M	26.7M

EWCZ Cash Flow Statement

European Wax Center, Inc. (EWCZ) cash flow — operating, investing & free cash flow history

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Cash from Operations	14.7M	1.4M	41.35M	44.35M	55.6M	56.51M	56.51M
Operating CF Margin %	9.53%	1.35%	23.14%	21.39%	25.16%	26.05%	-
Operating CF Growth %	-	-90.5%	2859.63%	7.28%	25.36%	1.63%	39.61%
Net Income	-24.4M	-21.5M	3.97M	13.51M	12.04M	14.68M	11.24M
Depreciation & Amortization	15.53M	19.58M	20.33M	20.61M	20.55M	20.28M	20.06M
Stock-Based Compensation	1.57M	2.05M	11.13M	9.03M	10.99M	5.15M	6.31M
Deferred Taxes	18.54M	0	195K	2.24M	5.04M	7.73M	8.73M
Other Non-Cash Items	3.67M	8.98M	8.63M	5.63M	5.49M	6.34M	6.4M
Working Capital Changes	-212K	-7.73M	-2.91M	-6.67M	1.49M	2.32M	3.86M
Change in Receivables	1.1M	1.72M	-2.19M	-802K	-2.7M	1.33M	-153K
Change in Inventory	-5.36M	5.1M	-9.46M	-3.53M	2.31M	1.42M	4.66M
Change in Payables	2.8M	0	0	0	0	0	0
Cash from Investing	-40.69M	-36.84M	-8.2M	-245K	-785K	-386K	-2.42M
Capital Expenditures	-42.53M	-2.16M	-559K	-245K	-785K	-521K	-2.42M
CapEx % of Revenue	27.58%	2.09%	0.31%	0.12%	0.36%	0.24%	-
Acquisitions	1.84M	0	0	0	0	135K	0
Investments	-	-	-	-	-	-	-
Other Investing	0	-34.69M	-7.64M	0	0	0	0
Cash from Financing	27.81M	61.9M	-26.56M	-36.62M	-46.38M	-59.15M	-33.83M
Debt Issued (Net)	34.45M	39.6M	-91.18M	202.33M	-4M	-4M	-4M
Equity Issued (Net)	0	0	1000K	-1000K	-1000K	-1000K	-3.38M
Dividends Paid	-5.19M	0	0	-205.25M	-2.85M	-789K	-42K
Share Repurchases	0	0	-139.31M	-10.08M	-29.92M	-40.15M	-16.09M
Other Financing	-1.45M	22.3M	-9.01M	-23.62M	-9.61M	-14.22M	-13.69M
Net Change in Cash	1.81M▲ 0%	26.46M▲ 1358.4%	6.58M▼ 75.1%	7.49M▲ 13.9%	8.43M▲ 12.6%	-3.03M▼ 136.0%	25.52M▲ 0%
Free Cash Flow	-27.83M▲ 0%	-35.45M▼ 27.4%	33.14M▲ 193.5%	44.11M▲ 33.1%	54.82M▲ 24.3%	55.98M▲ 2.1%	59.35M▲ 0%
FCF Margin %	-18.05%	-34.28%	18.55%	21.27%	24.8%	25.81%	28.09%
FCF Growth %	-	-27.36%	193.5%	33.09%	24.27%	2.13%	5.21%
FCF per Share	-0.89	-1.13	0.90	1.10	1.11	1.19	1.19
FCF Conversion (FCF/Net Income)	-0.60x	-0.06x	5.98x	6.07x	6.39x	5.40x	5.28x
Interest Paid	0	16.47M	11.76M	18.46M	22.24M	21.89M	21.73M
Taxes Paid	0	0	10K	169K	860K	498K	460K

EWCZ Key Ratios

European Wax Center, Inc. (EWCZ) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2020	2021	2022	2023	2024	TTM
Return on Equity (ROE)	-6.8%	2.1%	3.1%	7.1%	10.13%	10.72%
Return on Invested Capital (ROIC)	-0.45%	3.6%	6.35%	7.34%	8.28%	8.28%
Gross Margin	65.66%	73.78%	71.44%	71.66%	73.58%	69.36%
Net Margin	-20.79%	3.87%	3.52%	3.94%	4.82%	5.32%
Debt / Equity	0.83x	0.52x	2.92x	3.31x	4.16x	4.16x
Interest Coverage	-0.18x	1.21x	1.69x	1.67x	1.87x	1.78x
FCF Conversion	-0.06x	5.98x	6.07x	6.39x	5.40x	5.28x
Revenue Growth	-32.94%	72.79%	16.05%	6.59%	-1.86%	-5.47%

EWCZ SEC Filings & Documents

European Wax Center, Inc. (EWCZ) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Mar 4, 2026·SEC

Material company update

Feb 10, 2026·SEC

Material company update

Jan 12, 2026·SEC

10-K Annual Reports

FY 2026

Mar 4, 2026·SEC

FY 2025

Mar 11, 2025·SEC

FY 2024

Mar 6, 2024·SEC

10-Q Quarterly Reports

FY 2025

Nov 12, 2025·SEC

FY 2025

Aug 13, 2025·SEC

FY 2025

May 14, 2025·SEC

EWCZ Frequently Asked Questions

European Wax Center, Inc. (EWCZ) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

European Wax Center, Inc. (EWCZ) reported $211.3M in revenue for fiscal year 2024. This represents a 37% increase from $154.2M in 2019.

European Wax Center, Inc. (EWCZ) saw revenue decline by 1.9% over the past year.

Yes, European Wax Center, Inc. (EWCZ) is profitable, generating $11.2M in net income for fiscal year 2024 (4.8% net margin).

Dividend & Returns

Yes, European Wax Center, Inc. (EWCZ) pays a dividend with a yield of 0.29%. This makes it attractive for income-focused investors.

European Wax Center, Inc. (EWCZ) has a return on equity (ROE) of 10.1%. This is reasonable for most industries.

European Wax Center, Inc. (EWCZ) generated $59.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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European Wax Center, Inc. (EWCZ) financial analysis — history, returns, DCA and operating performance tools

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Dividend History

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Earnings History

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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European Wax Center, Inc.(EWCZ)Earnings, Financials & Key Ratios

EWCZ Key Insights

✓Strengths

✗Weaknesses

EWCZ Price & Volume

EWCZ Growth Metrics

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