Wayfair (W) Financials

$66.04 +2.84 (+4.49%)

Closing price 03:59 PM Eastern

Extended Trading

$65.89 -0.15 (-0.23%)

As of 07:47 PM Eastern

Annual Income Statements for Wayfair

This table shows Wayfair's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-77	-194	-245	-504	-985	185	-131	-1,331	-738	-492	-313
Consolidated Net Income / (Loss)	-77	-194	-245	-504	-985	185	-131	-1,331	-738	-492	-313
Net Income / (Loss) Continuing Operations	-77	-194	-245	-504	-985	185	-131	-1,331	-738	-492	-313
Total Pre-Tax Income	-77	-194	-244	-502	-982	205	-130	-1,319	-729	-482	-304
Total Operating Income	-81	-196	-235	-473	-930	360	-94	-1,384	-813	-461	17
Total Gross Profit	541	808	1,119	1,587	2,147	4,112	3,895	3,416	3,667	3,574	3,765
Total Revenue	2,250	3,380	4,721	6,779	9,127	14,145	13,708	12,218	12,003	11,851	12,457
Operating Revenue	2,250	3,380	4,721	6,779	9,127	14,145	13,708	12,218	12,003	11,851	12,457
Total Cost of Revenue	1,709	2,573	3,602	5,192	6,980	10,033	9,813	8,802	8,336	8,277	8,692
Operating Cost of Revenue	1,709	2,573	3,602	5,192	6,980	10,033	9,813	8,802	8,336	8,277	8,692
Total Operating Expenses	622	1,004	1,354	2,060	3,077	3,752	3,989	4,800	4,480	4,035	3,748
Selling, General & Admin Expense	263	467	635	1,026	1,624	1,826	2,015	2,625	2,447	1,977	1,776
Marketing Expense	278	409	550	774	1,096	1,412	1,378	1,473	1,397	1,472	1,425
Other Operating Expenses / (Income)	81	128	170	260	357	510	584	632	557	470	471
Impairment Charge	-	-	-	-	0.00	0.00	12	39	14	37	23
Restructuring Charge	-	-	-	-	-	4.00	0.00	31	65	79	53
Total Other Income / (Expense), net	4.00	2.45	-8.68	-29	-52	-155	-36	65	84	-21	-321
Interest Expense	-	-	-	-	-	0.00	0.00	-96	-100	-29	233
Interest & Investment Income	1.28	0.69	-9.43	-29	-55	-146	-32	-27	-17	-29	-119
Other Income / (Expense), net	2.72	1.76	0.76	-0.20	3.00	-9.00	-4.00	-4.00	1.00	-21	31
Income Tax Expense	0.10	0.61	0.49	2.04	3.00	20	1.00	12	9.00	10	9.00
Basic Earnings per Share	($0.92)	($2.29)	($2.81)	($5.63)	($10.68)	$1.93	($1.26)	($12.54)	($6.47)	($4.01)	($2.44)
Weighted Average Basic Shares Outstanding	83.73M	84.98M	86.98M	89.47M	92M	96M	104M	106M	114M	123M	128M
Diluted Earnings per Share	($0.92)	($2.29)	($2.81)	($5.63)	($10.68)	$1.86	($1.26)	($12.54)	($6.47)	($4.01)	($2.44)
Weighted Average Diluted Shares Outstanding	83.73M	84.98M	86.98M	89.47M	92M	99M	104M	106M	114M	123M	128M
Weighted Average Basic & Diluted Shares Outstanding	83.73M	84.98M	86.98M	89.47M	92.20M	103.58M	105.09M	110.54M	120.36M	126.90M	130.75M

This table shows Wayfair's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-163	-174	-248	-42	-74	-128	-113	15	-99	-116	-105
Consolidated Net Income / (Loss)	-163	-174	-248	-42	-74	-128	-113	15	-99	-116	-105
Net Income / (Loss) Continuing Operations	-163	-174	-248	-42	-74	-128	-113	15	-99	-116	-105
Total Pre-Tax Income	-161	-171	-245	-40	-71	-126	-110	17	-97	-114	-104
Total Operating Income	-152	-172	-235	-35	-74	-117	-122	17	38	84	-11
Total Gross Profit	917	944	819	941	873	941	837	984	934	1,010	880
Total Revenue	2,944	3,114	2,729	3,117	2,884	3,121	2,730	3,273	3,117	3,337	2,931
Operating Revenue	2,944	3,114	2,729	3,117	2,884	3,121	2,730	3,273	3,117	3,337	2,931
Total Cost of Revenue	2,027	2,170	1,910	2,176	2,011	2,180	1,893	2,289	2,183	2,327	2,051
Operating Cost of Revenue	2,027	2,170	1,910	2,176	2,011	2,180	1,893	2,289	2,183	2,327	2,051
Total Operating Expenses	1,069	1,116	1,054	976	947	1,058	959	967	896	926	891
Selling, General & Admin Expense	596	597	534	489	480	474	429	465	445	437	424
Marketing Expense	337	381	324	365	354	429	344	372	330	379	329
Other Operating Expenses / (Income)	136	138	117	121	112	120	107	121	118	125	114
Impairment Charge	0.00	-	0.00	1.00	1.00	35	23	0.00	0.00	-	0.00
Restructuring Charge	0.00	-	79	0.00	0.00	-	56	9.00	3.00	-15	24
Total Other Income / (Expense), net	-9.00	1.00	-10	-5.00	3.00	-9.00	12	0.00	-135	-198	-93
Interest Expense	0.00	-	0.00	0.00	0.00	-	-25	-6.00	99	165	43
Interest & Investment Income	-5.00	-2.00	-6.00	-4.00	-5.00	-14	-23	-29	-31	-36	-39
Other Income / (Expense), net	-4.00	3.00	-4.00	-1.00	8.00	-24	10	23	-5.00	3.00	-11
Income Tax Expense	2.00	3.00	3.00	2.00	3.00	2.00	3.00	2.00	2.00	2.00	1.00
Basic Earnings per Share	($1.40)	($1.44)	($2.06)	($0.34)	($0.60)	($1.01)	($0.89)	$0.11	($0.76)	($0.90)	($0.80)
Weighted Average Basic Shares Outstanding	116M	114M	120M	122M	123M	123M	127M	128M	130M	128M	131M
Diluted Earnings per Share	($1.40)	($1.44)	($2.06)	($0.34)	($0.60)	($1.01)	($0.89)	$0.11	($0.76)	($0.90)	($0.80)
Weighted Average Diluted Shares Outstanding	116M	114M	120M	122M	123M	123M	127M	129M	130M	128M	131M
Weighted Average Basic & Diluted Shares Outstanding	117.95M	120.36M	121.93M	123.46M	125.32M	126.90M	128.32M	129.66M	130.34M	130.75M	132.00M

This table details how cash moves in and out of Wayfair's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-22	-54	279	292	-267	1,547	-424	-656	276	-6.00	156
Net Cash From Operating Activities	135	63	34	85	-197	1,417	410	-674	349	317	534
Net Cash From Continuing Operating Activities	135	63	34	85	-197	1,417	410	-674	349	317	534
Net Income / (Loss) Continuing Operations	-77	-194	-245	-504	-985	185	-131	-1,331	-738	-492	-313
Consolidated Net Income / (Loss)	-77	-194	-245	-504	-985	185	-131	-1,331	-738	-492	-313
Depreciation Expense	32	56	87	124	192	286	322	371	417	387	305
Amortization Expense	0.00	0.00	5.83	23	62	134	7.00	8.00	8.00	9.00	9.00
Non-Cash Adjustments To Reconcile Net Income	31	50	69	128	225	289	362	497	516	402	582
Changes in Operating Assets and Liabilities, net	149	152	116	315	309	523	-150	-219	146	11	-49
Net Cash From Investing Activities	-138	-96	-130	-260	-855	-236	-515	1.00	-152	-262	-219
Net Cash From Continuing Investing Activities	-138	-96	-130	-260	-855	-236	-515	1.00	-152	-262	-219
Purchase of Property, Plant & Equipment	-45	-97	-100	-159	-272	-186	-101	-186	-148	-73	-70
Purchase of Investments	-207	-88	-55	-99	-554	-481	-989	-430	-36	-67	-115
Sale and/or Maturity of Investments	134	120	71	61	115	580	749	889	233	39	101
Other Investing Activities, net	-22	-32	-46	-63	-144	-149	-174	-272	-201	-161	-135
Net Cash From Financing Activities	-19	-21	375	467	787	353	-303	16	77	-69	-129
Net Cash From Continuing Financing Activities	-19	-21	375	467	787	353	-303	16	77	-69	-129
Repayment of Debt	-	-	0.00	-1.15	-3.00	-1,240	-3.00	-507	-514	-858	-1,472
Issuance of Debt	0.00	0.00	420	562	935	2,228	0.00	678	678	786	1,383
Other Financing Activities, net	-19	-21	-45	-93	-145	-255	0.00	-80	-87	3.00	-40
Effect of Exchange Rate Changes	-0.46	-0.39	0.85	-	-2.00	13	-	1.00	2.00	8.00	-30
Cash Interest Paid	-	0.00	0.00	1.55	8.00	17	27	27	53	63	139

This table details how cash moves in and out of Wayfair's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	42	35	-215	197	-8.00	20	18	-12	-155	305	-472
Net Cash From Operating Activities	121	158	-139	245	49	162	-96	273	155	202	-52
Net Cash From Continuing Operating Activities	121	158	-139	245	49	162	-96	273	155	202	-52
Net Income / (Loss) Continuing Operations	-163	-174	-248	-42	-74	-128	-113	15	-99	-116	-105
Consolidated Net Income / (Loss)	-163	-174	-248	-42	-74	-128	-113	15	-99	-116	-105
Depreciation Expense	106	105	104	99	94	90	81	78	75	71	67
Amortization Expense	3.00	2.00	3.00	2.00	2.00	2.00	3.00	2.00	2.00	2.00	1.00
Non-Cash Adjustments To Reconcile Net Income	142	155	118	89	99	96	74	114	176	218	101
Changes in Operating Assets and Liabilities, net	33	70	-116	97	-72	102	-141	64	1.00	27	-116
Net Cash From Investing Activities	-79	-122	-75	-52	-51	-84	-17	-66	-67	-69	-46
Net Cash From Continuing Investing Activities	-79	-122	-75	-52	-51	-84	-17	-66	-67	-69	-46
Purchase of Property, Plant & Equipment	-30	-47	-13	-23	-17	-20	-5.00	-13	-27	-25	-25
Purchase of Investments	-4.00	-32	-36	-2.00	1.00	-30	-18	-37	-21	-39	-5.00
Sale and/or Maturity of Investments	4.00	4.00	15	12	6.00	6.00	44	14	16	27	13
Other Investing Activities, net	-49	-47	-41	-39	-41	-40	-38	-30	-35	-32	-29
Net Cash From Financing Activities	-	-	0.00	3.00	-	-72	140	-200	-243	174	-378
Net Cash From Continuing Financing Activities	-	-	0.00	3.00	-	-72	140	-200	-243	174	-378
Repayment of Debt	-	-	0.00	-	-	-858	-551	-191	-198	-532	-349
Issuance of Debt	-	-	0.00	-	-	786	691	-	-	692	0.00
Other Financing Activities, net	-	-	-	-	-	-	0.00	-	-45	14	-29
Effect of Exchange Rate Changes	-	-1.00	-1.00	-	-	-	-	-	-	-2.00	4.00
Cash Interest Paid	18	13	18	13	18	14	16	43	39	41	35

This table presents Wayfair's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	695	762	1,213	1,891	2,953	4,570	4,570	3,580	3,474	3,459	3,440
Total Current Assets	492	477	817	1,256	1,377	3,046	3,012	1,933	1,855	1,877	2,001
Cash & Equivalents	334	280	559	849	583	2,130	1,706	1,050	1,322	1,316	1,476
Short-Term Investments	52	69	61	114	404	462	693	228	29	56	66
Accounts Receivable	9.91	19	38	51	100	110	226	272	140	155	132
Inventories, net	20	19	28	46	62	52	69	90	75	76	71
Prepaid Expenses	76	91	131	195	229	292	318	293	289	274	256
Plant, Property, & Equipment, net	112	239	361	607	625	684	674	774	748	603	516
Total Noncurrent Assets	90	45	35	28	951	840	884	873	871	979	923
Other Noncurrent Operating Assets	6.35	10	11	19	796	840	884	873	871	979	923
Total Liabilities & Shareholders' Equity	695	762	1,213	1,891	2,953	4,570	4,570	3,580	3,474	3,459	3,440
Total Liabilities	452	682	1,262	2,222	3,897	5,762	6,189	6,130	6,181	6,214	6,222
Total Current Liabilities	397	557	740	1,139	1,612	2,166	2,217	2,072	2,183	2,370	2,129
Accounts Payable	271	379	440	650	908	1,157	1,166	1,204	1,234	1,246	1,202
Other Current Liabilities	24	44	85	128	703	1,009	1,051	868	949	1,124	927
Total Noncurrent Liabilities	55	125	522	1,082	2,286	3,596	3,972	4,058	3,998	3,844	4,093
Long-Term Debt	-	0.00	333	739	1,456	2,659	3,052	3,137	3,092	2,882	3,233
Other Noncurrent Operating Liabilities	55	96	106	160	830	937	920	921	906	962	860
Commitments & Contingencies	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	243	79	-44	-331	-944	-1,192	-1,619	-2,550	-2,707	-2,755	-2,782
Total Preferred & Common Equity	243	79	-48	-331	-944	-1,192	-1,619	-2,550	-2,707	-2,755	-2,782
Total Common Equity	243	79	-44	-331	-944	-1,192	-1,619	-2,550	-2,707	-2,755	-2,782
Common Stock	378	409	537	754	1,123	699	337	737	1,316	1,751	2,073
Retained Earnings	-136	-330	-583	-1,083	-2,065	-1,886	-1,949	-3,280	-4,018	-4,510	-4,823
Accumulated Other Comprehensive Income / (Loss)	0.14	-0.01	-2.36	-1.78	-1.43	-5.00	-7.00	-7.00	-5.00	4.00	-32
Other Equity Adjustments	0.00	-	-	-	-	-	0.00	-	0.00	0.00	0.00

This table presents Wayfair's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	3,653	3,212	3,382	3,360	3,240	3,436	3,414	3,419	3,278	3,116	2,870
Total Current Assets	2,004	1,607	1,774	1,784	1,588	1,822	1,812	1,893	1,810	1,678	1,568
Cash & Equivalents	731	970	1,249	1,281	1,107	1,304	1,296	1,338	1,326	1,171	1,004
Short-Term Investments	557	78	4.00	0.00	50	39	32	30	52	54	58
Accounts Receivable	332	181	128	132	113	161	155	140	110	129	158
Inventories, net	103	83	77	79	81	78	81	90	89	70	78
Prepaid Expenses	281	295	316	292	237	240	248	295	233	254	270
Plant, Property, & Equipment, net	763	762	759	751	714	680	658	556	540	523	502
Total Noncurrent Assets	886	843	849	825	938	934	944	970	928	915	800
Other Noncurrent Operating Assets	886	34	43	47	938	934	944	970	928	915	800
Total Liabilities & Shareholders' Equity	3,653	3,212	3,382	3,360	3,240	3,436	3,414	3,419	3,278	3,116	2,870
Total Liabilities	6,031	5,957	6,080	6,068	6,065	6,196	6,147	6,228	5,997	5,884	5,712
Total Current Liabilities	1,961	1,909	1,974	1,996	2,025	2,207	2,169	2,283	2,215	2,254	2,055
Accounts Payable	1,056	1,058	1,104	1,173	1,055	1,168	1,187	1,123	1,140	1,199	1,094
Other Current Liabilities	905	851	870	823	970	1,039	982	1,160	1,075	1,055	961
Total Noncurrent Liabilities	4,070	4,048	4,106	4,072	4,040	3,989	3,978	3,945	3,782	3,630	3,657
Long-Term Debt	3,134	3,138	3,205	3,207	3,095	3,059	3,061	3,000	2,884	2,748	2,931
Other Noncurrent Operating Liabilities	936	43	40	38	945	930	917	945	898	882	726
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-2,378	-2,745	-2,698	-2,708	-2,825	-2,760	-2,733	-2,809	-2,719	-2,768	-2,842
Total Preferred & Common Equity	-2,378	-2,745	-2,698	-2,708	-2,825	-2,760	-2,733	-2,809	-2,719	-2,768	-2,842
Total Common Equity	-2,378	-2,745	-2,698	-2,708	-2,825	-2,760	-2,733	-2,809	-2,719	-2,768	-2,842
Common Stock	565	894	988	1,142	1,446	1,552	1,657	1,821	1,921	1,971	2,114
Retained Earnings	-2,929	-3,635	-3,681	-3,844	-4,266	-4,308	-4,382	-4,623	-4,608	-4,707	-4,928
Accumulated Other Comprehensive Income / (Loss)	-14	-4.00	-5.00	-6.00	-5.00	-4.00	-8.00	-7.00	-32	-32	-28
Other Equity Adjustments	-	-	-	-	0.00	0.00	-	0.00	-	0.00	0.00

This table displays calculated financial ratios and metrics derived from Wayfair's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	70.58%	50.25%	39.66%	43.60%	34.63%	54.98%	-3.09%	-10.87%	-1.76%	-1.27%	5.11%
EBITDA Growth	63.42%	-200.72%	-2.13%	-130.78%	-105.59%	214.56%	-70.04%	-536.80%	61.65%	77.78%	520.93%
EBIT Growth	46.97%	-147.31%	-20.69%	-101.74%	-95.78%	137.86%	-127.92%	-1,316.33%	41.50%	40.64%	109.96%
NOPAT Growth	44.95%	-141.20%	-20.00%	-101.01%	-96.50%	149.90%	-120.25%	-1,372.34%	41.26%	43.30%	103.69%
Net Income Growth	47.71%	-150.99%	-25.85%	-106.07%	-95.41%	118.78%	-170.81%	-916.03%	44.55%	33.33%	36.38%
EPS Growth	69.02%	-148.91%	-22.71%	-100.36%	-89.70%	117.42%	-167.74%	-895.24%	48.41%	38.02%	39.15%
Operating Cash Flow Growth	3,175.66%	-53.51%	-46.45%	152.31%	-332.14%	819.29%	-71.07%	-264.39%	151.78%	-9.17%	68.45%
Free Cash Flow Firm Growth	196.09%	-259.40%	-80.67%	-40.19%	-76.17%	305.14%	-127.44%	-453.29%	76.35%	85.14%	-225.17%
Invested Capital Growth	-102.51%	-21.42%	-1.15%	-38.13%	-66.40%	-78.37%	14.13%	28.47%	-39.80%	-28.88%	12.37%
Revenue Q/Q Growth	17.26%	7.81%	10.65%	9.27%	6.03%	8.74%	-2.96%	-1.22%	0.11%	0.06%	1.76%
EBITDA Q/Q Growth	55.79%	-16.86%	-8.60%	-17.80%	-26.62%	151.26%	-60.32%	-12.99%	30.52%	13.13%	136.60%
EBIT Q/Q Growth	41.92%	-16.81%	-11.17%	-15.94%	-23.37%	694.94%	-148.29%	-10.77%	16.89%	5.49%	126.67%
NOPAT Q/Q Growth	40.99%	-16.48%	-11.34%	-15.04%	-23.32%	1,115.65%	-141.32%	-10.72%	16.27%	10.66%	109.24%
Net Income Q/Q Growth	42.42%	-17.15%	-13.35%	-16.41%	-23.40%	209.17%	-238.15%	-12.61%	19.34%	8.55%	3.69%
EPS Q/Q Growth	36.99%	-16.84%	-12.40%	-15.84%	-22.62%	177.82%	-201.61%	-12.97%	21.86%	9.68%	4.31%
Operating Cash Flow Q/Q Growth	35.50%	-21.17%	-52.12%	7.13%	-66.96%	20.75%	-22.35%	1.32%	20.76%	1.28%	8.10%
Free Cash Flow Firm Q/Q Growth	0.00%	-31.81%	-38.63%	-9.09%	-39.29%	42.60%	-85.31%	-2.22%	76.60%	-106.39%	-222.29%
Invested Capital Q/Q Growth	-53.96%	-39.02%	-21.13%	-23.57%	-15.11%	2.54%	-10.55%	-29.89%	-2,246.67%	-24.50%	12.37%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	24.03%	23.90%	23.70%	23.41%	23.52%	29.07%	28.41%	27.96%	30.55%	30.16%	30.22%
EBITDA Margin	-2.05%	-4.11%	-3.00%	-4.83%	-7.37%	5.45%	1.69%	-8.26%	-3.22%	-0.73%	2.91%
Operating Margin	-3.62%	-5.80%	-4.99%	-6.98%	-10.19%	2.55%	-0.69%	-11.33%	-6.77%	-3.89%	0.14%
EBIT Margin	-3.49%	-5.75%	-4.97%	-6.98%	-10.16%	2.48%	-0.71%	-11.36%	-6.77%	-4.07%	0.39%
Profit (Net Income) Margin	-3.44%	-5.75%	-5.18%	-7.44%	-10.79%	1.31%	-0.96%	-10.89%	-6.15%	-4.15%	-2.51%
Tax Burden Percent	100.12%	100.31%	100.20%	100.41%	100.31%	90.24%	100.77%	100.91%	101.23%	102.07%	102.96%
Interest Burden Percent	98.37%	99.64%	104.02%	106.03%	105.93%	58.40%	132.65%	95.03%	89.78%	100.00%	-633.33%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	9.76%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-28.26%	-120.76%	-1,367.28%	269.33%	154.52%	-17.32%	9.32%	63.85%	28.08%	18.02%	11.31%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-12.58%	-26.71%	-23.77%	-30.51%	-38.28%	9.33%	-2.14%	-34.06%	-23.02%	-13.90%	1.39%
Return on Assets (ROA)	-12.39%	-26.70%	-24.77%	-32.48%	-40.67%	4.92%	-2.87%	-32.66%	-20.92%	-14.19%	-9.07%
Return on Common Equity (ROCE)	-28.27%	-120.82%	-1,366.29%	269.33%	154.52%	-17.32%	9.32%	63.85%	28.08%	18.02%	11.31%
Return on Equity Simple (ROE_SIMPLE)	-31.93%	-244.85%	506.14%	152.42%	104.32%	-15.52%	8.09%	52.20%	27.26%	17.86%	0.00%
Net Operating Profit after Tax (NOPAT)	-57	-137	-165	-331	-651	325	-66	-969	-569	-323	12
NOPAT Margin	-2.53%	-4.06%	-3.49%	-4.89%	-7.13%	2.30%	-0.48%	-7.93%	-4.74%	-2.72%	0.10%
Net Nonoperating Expense Percent (NNEP)	-4.65%	-13.97%	-27.45%	-123.82%	251.89%	73.52%	18.11%	28.84%	9.38%	10.42%	20.30%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-165.04%	-147.82%	-254.09%	2.64%
Cost of Revenue to Revenue	75.97%	76.10%	76.30%	76.59%	76.48%	70.93%	71.59%	72.04%	69.45%	69.84%	69.78%
SG&A Expenses to Revenue	11.67%	13.82%	13.45%	15.13%	17.79%	12.91%	14.70%	21.48%	20.39%	16.68%	14.26%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	27.65%	29.70%	28.69%	30.39%	33.71%	26.53%	29.10%	39.29%	37.32%	34.05%	30.09%
Earnings before Interest and Taxes (EBIT)	-79	-194	-235	-473	-927	351	-98	-1,388	-812	-482	48
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-46	-139	-142	-327	-673	771	231	-1,009	-387	-86	362
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	16.50	37.78	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	16.76	39.91	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.78	0.89	1.49	1.20	0.92	1.59	1.45	0.29	0.61	0.47	1.05
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	121.39	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.82%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	1.57	0.78	1.45	1.19	0.96	1.59	1.50	0.44	0.75	0.60	1.19
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	29.21	88.80	0.00	0.00	0.00	40.82
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	64.17	0.00	0.00	0.00	0.00	307.88
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	69.33	0.00	0.00	0.00	0.00	1,241.87
Enterprise Value to Operating Cash Flow (EV/OCF)	26.20	42.15	202.89	95.33	0.00	15.90	50.03	0.00	25.84	22.28	27.67
Enterprise Value to Free Cash Flow (EV/FCFF)	63.06	0.00	0.00	0.00	0.00	27.50	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.36	-9.53	-2.79	-1.54	-2.23	-1.89	-1.23	-1.14	-1.05	-1.16
Long-Term Debt to Equity	0.00	0.36	-9.53	-2.79	-1.54	-2.23	-1.89	-1.23	-1.14	-1.05	-1.16
Financial Leverage	-1.61	-2.54	-16.25	0.75	-0.21	-0.18	-0.26	-0.60	-0.68	-0.60	-0.58
Leverage Ratio	2.28	4.52	55.20	-8.29	-3.80	-3.52	-3.25	-1.95	-1.34	-1.27	-1.25
Compound Leverage Factor	2.24	4.51	57.42	-8.79	-4.02	-2.06	-4.31	-1.86	-1.20	-1.27	7.89
Debt to Total Capital	0.00%	26.69%	111.73%	155.94%	284.42%	181.25%	212.98%	534.41%	803.12%	2,269.29%	716.85%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	26.69%	111.73%	155.94%	284.42%	181.25%	212.98%	534.41%	803.12%	2,269.29%	716.85%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.08%	73.29%	-11.73%	-55.94%	-184.42%	-81.25%	-112.98%	-434.41%	-703.12%	-2,169.29%	-616.85%
Debt to EBITDA	0.00	-0.21	-2.93	-2.82	-2.16	3.45	13.21	-3.11	-7.99	-33.51	8.93
Net Debt to EBITDA	0.00	2.52	1.59	0.15	-0.47	0.09	2.83	-1.84	-4.50	-17.56	4.67
Long-Term Debt to EBITDA	0.00	-0.21	-2.93	-2.82	-2.16	3.45	13.21	-3.11	-7.99	-33.51	8.93
Debt to NOPAT	0.00	-0.21	-2.52	-2.78	-2.24	8.18	-46.38	-3.24	-5.43	-8.93	271.68
Net Debt to NOPAT	0.00	2.55	1.37	0.15	-0.48	0.21	-9.92	-1.92	-3.06	-4.68	142.10
Long-Term Debt to NOPAT	0.00	-0.21	-2.52	-2.78	-2.24	8.18	-46.38	-3.24	-5.43	-8.93	271.68
Altman Z-Score	8.07	5.50	6.01	4.23	2.28	5.34	4.47	1.15	1.66	1.51	2.92
Noncontrolling Interest Sharing Ratio	-0.02%	-0.05%	0.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.24	0.86	1.10	1.10	0.85	1.41	1.36	0.93	0.85	0.79	0.94
Quick Ratio	1.00	0.66	0.89	0.89	0.67	1.25	1.18	0.75	0.68	0.64	0.79
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	56	-89	-162	-227	-399	819	-225	-1,244	-294	-44	-142
Operating Cash Flow to CapEx	302.64%	64.95%	33.48%	53.30%	-72.43%	761.83%	405.94%	-362.37%	235.81%	434.25%	762.86%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.61
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.29
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.99
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	3.60	4.64	4.78	4.37	3.77	3.76	3.00	3.00	3.40	3.42	3.61
Accounts Receivable Turnover	283.81	232.98	165.47	153.11	121.43	134.89	81.60	49.07	58.27	80.35	86.81
Inventory Turnover	86.11	133.81	154.62	139.95	129.43	176.49	162.20	110.72	101.04	109.63	118.26
Fixed Asset Turnover	26.02	19.22	15.72	14.00	14.82	21.62	20.19	16.88	15.77	17.54	22.26
Accounts Payable Turnover	8.16	7.91	8.79	9.52	8.96	9.72	8.45	7.43	6.84	6.68	7.10
Days Sales Outstanding (DSO)	1.29	1.57	2.21	2.38	3.01	2.71	4.47	7.44	6.26	4.54	4.20
Days Inventory Outstanding (DIO)	4.24	2.73	2.36	2.61	2.82	2.07	2.25	3.30	3.61	3.33	3.09
Days Payable Outstanding (DPO)	44.72	46.14	41.54	38.33	40.74	37.56	43.20	49.14	53.38	54.68	51.40
Cash Conversion Cycle (CCC)	-39.19	-41.85	-36.97	-33.34	-34.92	-32.79	-36.48	-38.40	-43.50	-46.81	-44.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-223	-271	-274	-379	-631	-1,125	-966	-691	-966	-1,245	-1,091
Invested Capital Turnover	-13.48	-13.67	-17.30	-20.75	-18.08	-16.11	-13.11	-14.75	-14.49	-10.72	-10.67
Increase / (Decrease) in Invested Capital	-113	-48	-3.13	-105	-252	-494	159	275	-275	-279	154
Enterprise Value (EV)	3,540	2,648	6,824	8,090	8,730	22,523	20,513	5,382	9,018	7,064	14,778
Market Capitalization	4,006	2,998	7,050	8,138	8,416	22,456	19,860	3,523	7,277	5,554	13,087
Book Value per Share	$2.89	$0.93	($0.50)	($3.66)	($10.14)	($11.99)	($15.49)	($23.80)	($22.95)	($21.98)	($21.34)
Tangible Book Value per Share	$2.84	$0.88	($0.53)	($3.69)	($10.14)	($11.99)	($15.49)	($23.80)	($22.95)	($21.98)	($21.34)
Total Capital	243	108	372	591	512	1,467	1,433	587	385	127	451
Total Debt	0.00	29	415	922	1,456	2,659	3,052	3,137	3,092	2,882	3,233
Total Long-Term Debt	0.00	29	415	922	1,456	2,659	3,052	3,137	3,092	2,882	3,233
Net Debt	-466	-351	-226	-48	314	67	653	1,859	1,741	1,510	1,691
Capital Expenditures (CapEx)	45	97	100	159	272	186	101	186	148	73	70
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-291	-429	-543	-847	-1,221	-1,712	-1,604	-1,417	-1,679	-1,865	-1,670
Debt-free Net Working Capital (DFNWC)	95	-80	77	117	-234	880	795	-139	-328	-493	-128
Net Working Capital (NWC)	95	-80	77	117	-234	880	795	-139	-328	-493	-128
Net Nonoperating Expense (NNE)	20	57	80	173	334	140	65	362	169	169	325
Net Nonoperating Obligations (NNO)	-466	-351	-231	-48	314	67	653	1,859	1,741	1,510	1,691
Total Depreciation and Amortization (D&A)	32	56	93	146	254	420	329	379	425	396	314
Debt-free, Cash-free Net Working Capital to Revenue	-12.92%	-12.68%	-11.50%	-12.49%	-13.38%	-12.10%	-11.70%	-11.60%	-13.99%	-15.74%	-13.41%
Debt-free Net Working Capital to Revenue	4.24%	-2.37%	1.63%	1.72%	-2.57%	6.22%	5.80%	-1.14%	-2.73%	-4.16%	-1.03%
Net Working Capital to Revenue	4.24%	-2.37%	1.63%	1.72%	-2.57%	6.22%	5.80%	-1.14%	-2.73%	-4.16%	-1.03%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.92)	($2.29)	($2.81)	($5.63)	($10.68)	$1.93	($1.26)	($12.54)	($6.47)	($4.01)	($2.44)
Adjusted Weighted Average Basic Shares Outstanding	84.38M	85.96M	88.50M	91.10M	94.12M	95.83M	104M	106M	114M	123M	128M
Adjusted Diluted Earnings per Share	($0.92)	($2.29)	($2.81)	($5.63)	($10.68)	$1.86	($1.26)	($12.54)	($6.47)	($4.01)	($2.44)
Adjusted Weighted Average Diluted Shares Outstanding	84.38M	85.96M	88.50M	91.10M	94.12M	99.34M	104M	106M	114M	123M	128M
Adjusted Basic & Diluted Earnings per Share	($0.92)	($2.29)	($2.81)	($5.63)	($10.68)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	83.73M	84.98M	86.98M	89.47M	92.20M	103.58M	105.09M	110.54M	120.36M	126.90M	130.75M
Normalized Net Operating Profit after Tax (NOPAT)	-57	-137	-165	-331	-651	328	-57	-920	-514	-242	65
Normalized NOPAT Margin	-2.53%	-4.06%	-3.49%	-4.89%	-7.13%	2.32%	-0.42%	-7.53%	-4.28%	-2.04%	0.52%
Pre Tax Income Margin	-3.44%	-5.73%	-5.17%	-7.41%	-10.76%	1.45%	-0.95%	-10.80%	-6.07%	-4.07%	-2.44%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.21
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.05
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.09
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.25
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	205.41%	-229.01%	-5.63%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Wayfair's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	130,747,862.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	130,747,862.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.80
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	3.66%	0.42%	-1.62%	-1.70%	-2.04%	0.22%	0.04%	5.00%	8.08%	6.92%	7.36%
EBITDA Growth	82.97%	73.28%	45.68%	285.71%	163.83%	20.97%	78.79%	84.62%	266.67%	426.53%	264.29%
EBIT Growth	58.18%	49.40%	31.32%	74.10%	57.69%	16.57%	53.14%	211.11%	150.00%	161.70%	80.36%
NOPAT Growth	59.14%	47.88%	32.28%	75.35%	51.32%	31.98%	48.09%	161.22%	151.35%	171.79%	90.98%
Net Income Growth	42.40%	50.43%	30.14%	8.70%	54.60%	26.44%	54.44%	135.71%	-33.78%	9.38%	7.08%
EPS Growth	47.37%	55.69%	36.02%	17.07%	57.14%	29.86%	56.80%	132.35%	-26.67%	10.89%	10.11%
Operating Cash Flow Growth	128.07%	61.22%	5.44%	12.90%	-59.50%	2.53%	30.94%	11.43%	216.33%	24.69%	45.83%
Free Cash Flow Firm Growth	-13.48%	130.55%	172.34%	208.73%	245.33%	27.49%	-78.11%	-83.78%	-72.65%	-148.30%	-203.47%
Invested Capital Growth	108.46%	-39.80%	-518.40%	-1,007.83%	-2,322.22%	-28.88%	-32.69%	-16.19%	-24.50%	12.37%	17.33%
Revenue Q/Q Growth	-7.16%	5.77%	-12.36%	14.22%	-7.48%	8.22%	-12.53%	19.89%	-4.77%	7.06%	-12.17%
EBITDA Q/Q Growth	-34.29%	-31.91%	-112.90%	149.24%	-53.85%	-263.33%	42.86%	528.57%	-8.33%	45.45%	-71.25%
EBIT Q/Q Growth	-12.23%	-8.33%	-41.42%	84.94%	-83.33%	-113.64%	20.57%	135.71%	-17.50%	163.64%	-125.29%
NOPAT Q/Q Growth	-7.04%	-13.16%	-36.63%	85.11%	-111.43%	-58.11%	-4.27%	117.56%	77.33%	121.05%	-113.10%
Net Income Q/Q Growth	-254.35%	-6.75%	-42.53%	83.06%	-76.19%	-72.97%	11.72%	113.27%	-760.00%	-17.17%	9.48%
EPS Q/Q Growth	-241.46%	-2.86%	-43.06%	83.50%	-76.47%	-68.33%	11.88%	112.36%	-790.91%	-18.42%	11.11%
Operating Cash Flow Q/Q Growth	-44.24%	30.58%	-187.97%	276.26%	-80.00%	230.61%	-159.26%	384.38%	-43.22%	30.32%	-125.74%
Free Cash Flow Firm Q/Q Growth	34.50%	122.62%	504.46%	21.40%	-12.45%	-80.16%	3.81%	-10.07%	47.61%	-135.05%	-122.37%
Invested Capital Q/Q Growth	-60.87%	-2,246.67%	8.18%	-17.70%	4.21%	-24.50%	5.46%	-3.06%	-2.64%	12.37%	10.82%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	31.15%	30.31%	30.01%	30.19%	30.27%	30.15%	30.66%	30.06%	29.96%	30.27%	30.02%
EBITDA Margin	-1.60%	-1.99%	-4.84%	2.09%	1.04%	-1.57%	-1.03%	3.67%	3.53%	4.79%	1.57%
Operating Margin	-5.16%	-5.52%	-8.61%	-1.12%	-2.57%	-3.75%	-4.47%	0.52%	1.22%	2.52%	-0.38%
EBIT Margin	-5.30%	-5.43%	-8.76%	-1.16%	-2.29%	-4.52%	-4.10%	1.22%	1.06%	2.61%	-0.75%
Profit (Net Income) Margin	-5.54%	-5.59%	-9.09%	-1.35%	-2.57%	-4.10%	-4.14%	0.46%	-3.18%	-3.48%	-3.58%
Tax Burden Percent	101.24%	101.75%	101.22%	105.00%	104.23%	101.59%	102.73%	88.24%	102.06%	101.75%	100.96%
Interest Burden Percent	103.21%	101.18%	102.51%	111.11%	107.58%	89.36%	98.21%	42.50%	-293.94%	-131.03%	472.73%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	11.76%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	35.98%	28.08%	22.66%	22.98%	19.78%	18.02%	12.67%	10.95%	11.82%	11.31%	10.79%
Cash Return on Invested Capital (CROIC)	-2,792.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-18.12%	-18.47%	-32.46%	-4.03%	-8.00%	-15.45%	-14.60%	4.37%	3.97%	9.42%	-3.02%
Return on Assets (ROA)	-18.93%	-19.02%	-33.69%	-4.71%	-8.97%	-14.02%	-14.73%	1.64%	-11.91%	-12.55%	-14.42%
Return on Common Equity (ROCE)	35.98%	28.08%	22.66%	22.98%	19.78%	18.02%	12.67%	10.95%	11.82%	11.31%	10.79%
Return on Equity Simple (ROE_SIMPLE)	33.79%	0.00%	22.34%	22.72%	19.69%	0.00%	12.71%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-106	-120	-165	-25	-52	-82	-85	15	27	59	-7.70
NOPAT Margin	-3.61%	-3.87%	-6.03%	-0.79%	-1.80%	-2.62%	-3.13%	0.46%	0.85%	1.76%	-0.26%
Net Nonoperating Expense Percent (NNEP)	2.46%	2.98%	3.41%	0.77%	0.99%	2.84%	1.55%	0.00%	7.72%	10.92%	5.56%
Return On Investment Capital (ROIC_SIMPLE)	-	-31.27%	-	-	-	-64.49%	-44.71%	9.09%	-133.00%	13.04%	-8.65%
Cost of Revenue to Revenue	68.85%	69.69%	69.99%	69.81%	69.73%	69.85%	69.34%	69.94%	70.04%	69.73%	69.98%
SG&A Expenses to Revenue	20.24%	19.17%	19.57%	15.69%	16.64%	15.19%	15.71%	14.21%	14.28%	13.10%	14.47%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	36.31%	35.84%	38.62%	31.31%	32.84%	33.90%	35.13%	29.54%	28.75%	27.75%	30.40%
Earnings before Interest and Taxes (EBIT)	-156	-169	-239	-36	-66	-141	-112	40	33	87	-22
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-47	-62	-132	65	30	-49	-28	120	110	160	46
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.59	0.61	0.67	0.54	0.59	0.47	0.34	0.55	0.95	1.05	0.78
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	217.25	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.82	0.75	0.83	0.68	0.73	0.60	0.48	0.67	1.07	1.19	0.92
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	316.49	110.52	85.66	40.82	26.84
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	307.88	84.80
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1,241.87	130.61
Enterprise Value to Operating Cash Flow (EV/OCF)	33.83	25.84	27.86	21.16	27.70	22.28	15.82	20.79	26.53	27.67	20.25
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	16.35	10.96	12.68	0.00	122.77	0.00	112.79	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-1.49	-1.14	-1.10	-1.11	-1.12	-1.05	-1.07	-1.06	-0.99	-1.16	-1.03
Long-Term Debt to Equity	-1.49	-1.14	-1.10	-1.11	-1.12	-1.05	-1.07	-1.06	-0.99	-1.16	-1.03
Financial Leverage	-0.90	-0.68	-0.88	-0.83	-0.82	-0.60	-0.63	-0.59	-0.59	-0.58	-0.62
Leverage Ratio	-1.38	-1.34	-1.16	-1.25	-1.25	-1.27	-1.18	-1.23	-1.19	-1.25	-1.11
Compound Leverage Factor	-1.42	-1.36	-1.19	-1.39	-1.34	-1.13	-1.16	-0.52	3.49	1.63	-5.26
Debt to Total Capital	304.22%	803.12%	1,146.30%	1,023.08%	933.23%	2,269.29%	1,570.68%	1,747.88%	-13,740.00%	716.85%	3,293.26%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	304.22%	803.12%	1,146.30%	1,023.08%	933.23%	2,269.29%	1,570.68%	1,747.88%	-13,740.00%	716.85%	3,293.26%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-204.22%	-703.12%	-1,046.30%	-923.08%	-833.23%	-2,169.29%	-1,470.68%	-1,647.88%	13,840.00%	-616.85%	-3,193.26%
Debt to EBITDA	-7.24	-7.99	-11.21	-17.38	-30.92	-33.51	166.67	39.51	17.96	8.93	6.72
Net Debt to EBITDA	-4.94	-4.50	-7.02	-9.75	-17.51	-17.56	90.67	20.63	9.95	4.67	4.29
Long-Term Debt to EBITDA	-7.24	-7.99	-11.21	-17.38	-30.92	-33.51	166.67	39.51	17.96	8.93	6.72
Debt to NOPAT	-5.94	-5.43	-6.31	-7.36	-8.47	-8.93	-12.32	-13.92	-21.34	271.68	32.71
Net Debt to NOPAT	-4.05	-3.06	-3.95	-4.13	-4.80	-4.68	-6.70	-7.27	-11.82	142.10	20.86
Long-Term Debt to NOPAT	-5.94	-5.43	-6.31	-7.36	-8.47	-8.93	-12.32	-13.92	-21.34	271.68	32.71
Altman Z-Score	2.43	2.27	2.23	2.16	2.16	1.83	1.72	2.24	2.81	2.96	2.81
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.89	0.85	0.78	0.83	0.84	0.79	0.83	0.82	0.74	0.94	0.76
Quick Ratio	0.71	0.68	0.63	0.68	0.68	0.64	0.66	0.67	0.60	0.79	0.59
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-683	155	935	1,135	993	197	205	184	272	-95	-212
Operating Cash Flow to CapEx	403.33%	336.17%	-1,069.23%	1,065.22%	288.24%	810.00%	-1,920.00%	2,100.00%	574.07%	808.00%	-208.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.74	-0.58	-4.92
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.57	1.22	-1.21
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.29	1.07	-1.79
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	3.42	3.40	3.71	3.49	3.50	3.42	3.56	3.58	3.75	3.61	4.03
Accounts Receivable Turnover	51.68	58.27	81.35	82.38	82.54	80.35	93.69	88.62	86.20	86.81	84.95
Inventory Turnover	92.02	101.04	101.13	106.88	103.34	109.63	96.61	100.28	113.18	118.26	105.36
Fixed Asset Turnover	15.84	15.77	16.20	16.54	16.81	17.54	18.66	19.69	20.73	22.26	23.93
Accounts Payable Turnover	7.51	6.84	7.85	7.29	7.01	6.68	7.58	7.26	7.16	7.10	7.98
Days Sales Outstanding (DSO)	7.06	6.26	4.49	4.43	4.42	4.54	3.90	4.12	4.23	4.20	4.30
Days Inventory Outstanding (DIO)	3.97	3.61	3.61	3.42	3.53	3.33	3.78	3.64	3.23	3.09	3.46
Days Payable Outstanding (DPO)	48.58	53.38	46.50	50.06	52.10	54.68	48.12	50.31	50.96	51.40	45.72
Cash Conversion Cycle (CCC)	-37.55	-43.50	-38.40	-42.21	-44.14	-46.81	-40.45	-42.55	-43.50	-44.11	-37.96
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	45	-966	-887	-1,044	-1,000	-1,245	-1,177	-1,213	-1,245	-1,091	-973
Invested Capital Turnover	-49.24	-14.49	-35.43	-25.63	-24.80	-10.72	-11.48	-10.64	-10.91	-10.67	-11.77
Increase / (Decrease) in Invested Capital	577	-275	-1,099	-1,159	-1,045	-279	-290	-169	-245	154	204
Enterprise Value (EV)	9,776	9,018	9,944	8,145	8,669	7,064	5,697	8,068	13,106	14,778	11,703
Market Capitalization	7,023	7,277	8,006	6,429	6,936	5,554	4,065	6,562	11,583	13,087	9,834
Book Value per Share	($23.35)	($22.95)	($23.54)	($22.64)	($22.14)	($21.98)	($22.13)	($21.19)	($21.35)	($21.34)	($21.74)
Tangible Book Value per Share	($23.35)	($22.95)	($23.54)	($22.64)	($22.14)	($21.98)	($22.13)	($21.19)	($21.35)	($21.34)	($21.74)
Total Capital	1,326	385	270	299	328	127	191	165	-20	451	89
Total Debt	4,034	3,092	3,095	3,059	3,061	2,882	3,000	2,884	2,748	3,233	2,931
Total Long-Term Debt	4,034	3,092	3,095	3,059	3,061	2,882	3,000	2,884	2,748	3,233	2,931
Net Debt	2,753	1,741	1,938	1,716	1,733	1,510	1,632	1,506	1,523	1,691	1,869
Capital Expenditures (CapEx)	30	47	13	23	17	20	5.00	13	27	25	25
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,493	-1,679	-1,594	-1,728	-1,685	-1,865	-1,758	-1,783	-1,801	-1,670	-1,549
Debt-free Net Working Capital (DFNWC)	-212	-328	-437	-385	-357	-493	-390	-405	-576	-128	-487
Net Working Capital (NWC)	-212	-328	-437	-385	-357	-493	-390	-405	-576	-128	-487
Net Nonoperating Expense (NNE)	57	54	84	18	22	46	28	0.00	126	175	97
Net Nonoperating Obligations (NNO)	2,753	1,741	1,938	1,716	1,733	1,510	1,632	1,506	1,523	1,691	1,869
Total Depreciation and Amortization (D&A)	109	107	107	101	96	92	84	80	77	73	68
Debt-free, Cash-free Net Working Capital to Revenue	-12.45%	-13.99%	-13.33%	-14.52%	-14.23%	-15.74%	-14.83%	-14.85%	-14.71%	-13.41%	-12.24%
Debt-free Net Working Capital to Revenue	-1.77%	-2.73%	-3.65%	-3.23%	-3.01%	-4.16%	-3.29%	-3.37%	-4.71%	-1.03%	-3.85%
Net Working Capital to Revenue	-1.77%	-2.73%	-3.65%	-3.23%	-3.01%	-4.16%	-3.29%	-3.37%	-4.71%	-1.03%	-3.85%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.40)	($1.44)	($2.06)	($0.34)	($0.60)	($1.01)	($0.89)	$0.11	($0.76)	($0.90)	($0.80)
Adjusted Weighted Average Basic Shares Outstanding	116M	114M	120M	122M	123M	123M	127M	128M	130M	128M	131M
Adjusted Diluted Earnings per Share	($1.40)	($1.44)	($2.06)	($0.34)	($0.60)	($1.01)	($0.89)	$0.11	($0.76)	($0.90)	($0.80)
Adjusted Weighted Average Diluted Shares Outstanding	116M	114M	120M	122M	123M	123M	127M	129M	130M	128M	131M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	117.95M	120.36M	121.93M	123.46M	125.32M	126.90M	128.32M	129.66M	130.34M	130.75M	132.00M
Normalized Net Operating Profit after Tax (NOPAT)	-106	-120	-109	-24	-51	-57	-30	23	29	48	9.10
Normalized NOPAT Margin	-3.61%	-3.87%	-4.00%	-0.76%	-1.77%	-1.84%	-1.10%	0.70%	0.92%	1.45%	0.31%
Pre Tax Income Margin	-5.47%	-5.49%	-8.98%	-1.28%	-2.46%	-4.04%	-4.03%	0.52%	-3.11%	-3.42%	-3.55%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.33	0.53	-0.51
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.27	0.36	-0.18
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.06	0.38	-1.09
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.20	-0.76
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Wayfair (NYSE: W) has shown a pattern of revenue growth and margin stabilization in late-2025, with improving operating cash flow and a return toward positive operating income, even as the company continues to carry a large debt load and negative equity. Below are the most notable trends from the last four years of quarterly data you provided.

Q4 2025 Operating Income: $84 million, turning positive from a $117 million loss in Q4 2024.
Gross Margin: Approximately 30.2% in Q4 2025 (Gross Profit $1.01B on $3.337B revenue), a modest improvement vs. earlier periods.
Cash From Operations (Q4 2025): Net cash from continuing operating activities of $202 million, up from $162 million in Q4 2024 and $49 million in Q4 2023.
Free Cash Flow (Q4 2025): Roughly $177 million for the quarter (about $202M of operating cash flow less $25M capex).
Financing Cash Flow (Q4 2025): Net cash from financing activities of $174 million, indicating ongoing access to external liquidity.
Revenue Trend (4-year view): Operating revenue rose from about $3.101B in Q4 2022 to $3.337B in Q4 2025, a modest multi-year increase.
Profitability Trend: Net income remains negative in all periods, though losses narrowed in 2025 (Q4 net loss of $116M; Q3 was also negative, improving vs. earlier years).
Gross Margin Stability: Gross margin has hovered around 30% across periods with small fluctuations.
Liquidity Pressure: Tight liquidity as of Q3 2025, with $1.678B in current assets vs. $2.254B in current liabilities (current ratio ≈ 0.74).
Equity & Debt Burden: Total equity remained negative (~$-2.77B in Q3 2025) alongside substantial long-term debt (~$2.75B), signaling ongoing solvency challenges.

05/06/26 09:44 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Wayfair's Financials

When does Wayfair's fiscal year end?

According to the most recent income statement we have on file, Wayfair's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has Wayfair's net income changed over the last 10 years?

Wayfair's net income appears to be on an upward trend, with a most recent value of -$313 million in 2025, rising from -$77.44 million in 2015. The previous period was -$492 million in 2024. View Wayfair's forecast to see where analysts expect Wayfair to go next.

What is Wayfair's operating income?

Wayfair's total operating income in 2025 was $17 million, based on the following breakdown:

Total Gross Profit: $3.77 billion
Total Operating Expenses: $3.75 billion

How has Wayfair's revenue changed over the last 10 years?

Over the last 10 years, Wayfair's total revenue changed from $2.25 billion in 2015 to $12.46 billion in 2025, a change of 453.7%.

How much debt does Wayfair have?

Wayfair's total liabilities were at $6.22 billion at the end of 2025, a 0.1% increase from 2024, and a 1,276.4% increase since 2015.

How much cash does Wayfair have?

In the past 10 years, Wayfair's cash and equivalents has ranged from $279.84 million in 2016 to $2.13 billion in 2020, and is currently $1.48 billion as of their latest financial filing in 2025.

How has Wayfair's book value per share changed over the last 10 years?

Over the last 10 years, Wayfair's book value per share changed from 2.89 in 2015 to -21.34 in 2025, a change of -839.8%.

Related Companies

Financial statements for NYSE:W last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Wayfair (W) Financials

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Wayfair (W) Financials

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