WNYSERetail-Catalog & Mail-Order HousesFiscal year ends December 31
Wayfair Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$111.98+4.70 (+4.38%)
Close on Oct 19, 2026
- Market cap
- $14.78B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
30.2%+1.2 pts over 5 years
Operating margin
0.1%−2.4 pts over 5 years
Net margin
-2.5%−3.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +5.1% | +0.6% | -2.5% | +18.7% | |
| Gross profit | +5.3% | +3.3% | -1.7% | +21.4% | |
| Operating income | – | – | -45.7% | – | |
| Free cash flow | +90.2% | – | -17.7% | +17.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -120.8% | -17.3% | 11.3% | |
| Return on assets | -26.7% | 4.9% | -9.1% | |
| Current ratio | 0.86 | 1.41 | 0.94 | |
| Debt to equity | – | – | -1.18 | |
| Net debt to EBITDA | – | – | 5.58× | |
| Interest coverage | – | – | 0.1× | |
| Inventory turnover | 133.8× | 176.5× | 118.3× | |
| Capex to revenue | 2.9% | 1.3% | 0.6% | |
| Diluted shares | 85M | 99M | 128M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Wayfair generated $2.28B from operations and spent $953.00M on capital expenditure, dividends and share buybacks. 61% of that went back into the business.
Generated
$2.28B
Used
$953.00M
Capital expenditure$578.00M61%Dividends$00%Share buybacks$375.00M39%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-2.5%
×Asset turnover3.61×
×Equity multiplier-1.25×
=Return on equity, FY202511.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -2.5% | 3.61× | -1.25× | 11.3% |
| FY2024 | -4.2% | 3.42× | -1.27× | 18.0% |
| FY2023 | -6.1% | 3.40× | -1.34× | 28.1% |
| FY2022 | -10.9% | 3.00× | -1.95× | 63.9% |
| FY2021 | -1.0% | 3.00× | -3.25× | 9.3% |
| FY2020 | 1.3% | 3.76× | -3.52× | -17.3% |
| FY2019 | -10.8% | 3.77× | -3.80× | 154.5% |
| FY2018 | -7.4% | 4.37× | -8.18× | 265.8% |
| FY2017 | -5.2% | 4.78× | 63.60× | -1575.4% |
| FY2016 | -5.8% | 4.64× | 4.52× | -120.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$313.00M
- Cash generatingOperating cash flow above zero$534.00M
- Return on assets improvedROA up on the prior year-14.2% → -9.0%
- Earnings backed by cashOperating cash flow above net income$534.00M vs -$313.00M
- Less leverageLong-term debt to assets fell83.3% → 94.0%
- Better liquidityCurrent ratio rose0.79 → 0.94
- No dilutionShare count did not rise123M → 128M
- Gross margin improvedGross margin up on the prior year30.16% → 30.22%
- More efficientAsset turnover rose3.41 → 3.60