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Warby Parker Inc.

WRBY Healthcare Medical Instruments & Supplies

Warby Parker Inc.’s revenue for fiscal 2025 (year ended December 2025) was $871.9 million, up 13.0% from fiscal 2024.

Revenue
+10.4%
EPS
−20.0%
Free cash flow
−30.3%

Quarter to September 2026, against a year earlier

26.05 4.76 +22.36%
Market cap
$3.2B
P/E
434×
Fwd P/E
208×
Dividend yield
—
F-score
6/9
Altman Z
4.73
Beneish M
−2.64
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 50.30
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 5 6 — 2 1 2 3 5 — — 2 —
Insider Ownership 18.06%

Capital & Financial Ratios $m

Size
Market Cap 3,220.00
Revenue ttm 934.66
Net income ttm 7.47
Free cash flow ttm 21.29
Net debt Q (287.91)
Valuation
P/E 434.17 (above 35: high)
Forward P/E 208.00 (above 35: high)
Price / sales 3.48
Forward P/S Powerpack
Price / FCF 152.61
Price / book 8.05 (above 6: high)
Financial health
Current ratio Q 2.26 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q (1.36)
Growth
Revenue growth Q +10.40% (above 0%: growing)
Operating income growth Q −0.36% (below 0%: shrinking)
EPS, this year +18.98% (at or above 15%: strong)
EPS, next year A +47.32% (at or above 15%: strong)
Revenue, next year A +11.25% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +39.71% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.2×, against a ten-year median of 2.7×; over the ten years it ranged from 1.5× in 2023 to 6.5× in 2022.
P/S against its own 10 years 68.33%
10-year low 10-year high
P/B against its own 10 years 71.74%
10-year low 10-year high
EV/Sales against its own 10 years 70.05%
10-year low 10-year high
EV/FCF against its own 10 years 88.82%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 217 254 286 288
Receivables 2 2 3 2
Inventory 62 52 45 46
Other — — — —
299 326 352 366
2023 2024 2025 Q'26
Payables 22 24 32 29
ST’ Debt — — — —
Other 2 3 4 3
127 130 150 162

Compound Annual Growth %

10y 5y 3y
Sales — 17.23% 13.39%
Cash Flow — 27.59% 120.24%
Earnings — 0.00% 0.00%
Book Value — 0.00% 8.66%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.12 Actual 0.13

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.09 0.11 Beat by 0.02
Q4 FY25 0.05 0.00 Miss by 0.05
Q1 FY26 0.11 0.12 Beat by 0.01
Q2 FY26 0.12 0.13 Beat by 0.01
Q3 FY26 0.09 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.03 0.04 0.04 — —
’25 0.03 (0.01) 0.05 (0.05) 0.01
’24 (0.02) (0.06) (0.03) (0.06) (0.17)
’23 (0.09) (0.14) (0.15) (0.16) (0.54)
’22 (0.30) (0.28) (0.21) (0.18) (0.96)
’21 0.06 (0.19) (1.45) (0.41) (2.21)
’20 — (0.11) (0.78) (0.04) (1.05)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 242 236 245 — —
’25 224 214 222 212 872
’24 200 188 192 191 771
’23 172 166 170 162 670
’22 153 150 149 146 598
’21 139 132 137 133 541
’20 — 67 104 113 394
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 25 30 25 — —
’25 29 40 18 23 111
’24 20 32 27 20 99
’23 9 19 20 14 61
’22 (10) (4) 1 24 10
’21 (3) (2) 5 (32) (32)
’20 — — 13 19 33
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 8 7 (2) — —
’25 13 24 (2) 8 44
’24 5 14 13 2 35
’23 (4) 7 4 0 7
’22 (26) (20) (13) 10 (50)
’21 (12) (14) (8) (46) (81)
’20 — — (1) 14 13
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — — 370 394 541 598 670 771 872 935 +15.3% 970 1,134 1,537 +20.8%
Gross margin, % — — — 60.22 58.91 58.76 57.02 54.53 55.34 53.97 54.75 (6.2) pt
EBT — — — 0 (56) (144) (110) (63) (20) 3 10 +49.2%
EBT margin, % — — — 0.07 (14.15) (26.63) (18.37) (9.37) (2.53) 0.35 1.10 +0.3 pt
Net income — 0 — 0 (56) (144) (110) (63) (20) 2 7 n/m
Per share, $
Per share, $ Revenue — — — 7.07 7.42 7.59 5.20 5.71 6.41 7.11 7.49 +0.1%
Earnings — — — (1.10) (1.05) (2.21) (0.96) (0.54) (0.17) 0.01 0.06 n/m
Cash flow — — — 0.41 0.62 (0.45) 0.09 0.52 0.82 0.90 0.82 +14.2%
Capex — — — (0.62) (0.38) (0.68) (0.52) (0.46) (0.53) (0.55) (0.65) (2.1%)
Free cash flow — — — (0.21) 0.24 (1.13) (0.43) 0.06 0.29 0.36 0.17 n/m
Book value — — — 0.00 (3.74) 4.01 2.49 2.57 2.82 3.00 3.23 n/m
Shares, m — — — 52 53 71 115 117 120 123 124 +15.2%
Valuation, ×
Valuation, × P/E — — — 0.00 0.00 0.00 0.00 0.00 0.00 1,387.90 434.17 198.3
P/S — — — 6.04 6.04 6.13 2.75 2.61 3.78 3.07 3.48 4.3
P/B — — — 0.00 0.00 11.60 5.75 5.80 8.57 7.27 8.05 5.6
EV/Sales — — — 5.50 5.50 5.66 2.41 2.29 3.45 2.74 3.17 3.9
EV/FCF — — — (196.95) (196.95) (38.02) (28.88) 209.32 76.64 54.57 139.09 (17.2)
Cash, $m
Cash, $m Operating cash flow — — — 21 33 (32) 10 61 99 111 102 +31.5%
Capex — — — (33) (20) (49) (60) (54) (64) (67) (81) +12.8%
Free cash flow — — — (11) 13 (81) (50) 7 35 44 21 n/m
Balance, $m
Balance, $m Working capital — — — 16 255 210 165 172 196 202 204 +52.9%
Net debt — — — (55) (314) (256) (209) (217) (254) (286) (288) +31.5%
Shareholders’ equity — — — — (198) 286 287 302 340 368 403 n/m
Returns, %
Returns, % ROA — — — 0.00 (25.15) (35.56) (21.87) (11.00) (3.24) 0.23 1.00 +0.2 pt
ROIC — — — 0.00 0.00 (303.52) (89.04) (53.00) (21.91) (4.10) 0.83 (4.1) pt
ROE — — — 29.69 28.86 (358.15) (38.56) (21.48) (6.35) 0.46 1.93 (29.2) pt
People
People Employees — — — — 2,759 3,033 3,032 3,491 3,780 4,036 — +7.9%
Revenue/emp, $m — — — 0.00 0.14 0.18 0.20 0.19 0.20 0.22 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Warby Parker Inc. vs peers in Medical Instruments & Supplies (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ICUI ICU Medical, Inc. $4.2B 69.3× 48.8× +4.37% (above 0%: growing) n/m +292.20% (above 0%: growing) 41.89% 9.34% Compare
PLSE Pulse Biosciences, Inc $3.9B — (loss-making) — (loss-making) +359.30% (above 0%: growing) n/m −1,180.54% (below 0%: shrinking) 51.65% (6,149.87%) Compare
STVN Stevanato Group S.p.A. $3.6B 22.4× 30.2× +5.91% (above 0%: growing) +17.53% (above 0%: growing) +4,089.92% (above 0%: growing) 29.12% 18.51% Compare
WRBY Warby Parker Inc. $3.2B 434× 208× +10.40% (above 0%: growing) −20.00% (below 0%: shrinking) −30.28% (below 0%: shrinking) 54.41% 1.45%
ATRC AtriCure, Inc. $3.1B 199× 573× +15.03% (above 0%: growing) n/m −0.73% (below 0%: shrinking) 77.27% 2.82% Compare
XRAY DENTSPLY SIRONA Inc. $2.0B — (loss-making) 24.5× −7.52% (below 0%: shrinking) n/m −17.95% (below 0%: shrinking) 52.99% 4.43% Compare
LMAT LeMaitre Vascular, Inc. $1.9B 29.7× 28.2× +11.34% (above 0%: growing) −14.29% (below 0%: shrinking) −25.78% (below 0%: shrinking) 71.66% 26.03% Compare
KMTS Kestra Medical Technologies, Ltd. $1.7B — (loss-making) — (loss-making) +59.88% (above 0%: growing) n/m −17.75% (below 0%: shrinking) 56.50% (121.59%) Compare
AZTA Azenta, Inc. $1.6B — (loss-making) — (loss-making) +12.04% (above 0%: growing) n/m −134.69% (below 0%: shrinking) 44.89% (2.59%) Compare
Median of peers $2.6B 49.5× 30.2× +11.69% — −17.85% 52.32% 3.63%

All 53 Medical Instruments & Supplies stocks →

Pay and ownership Proxy statement filed 28 April 2026

Ownership

Directors and executive officers, together 55.90% of the votes
Neil Blumenthal 29.60% of the votes
David Gilboa 26.00% of the votes
FMR LLC 6.00% of the votes
JPMorgan Chase & Co. 3.70% of the votes
Durable Capital Partners LP 2.80% of the votes
Blackrock Inc. 2.50% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Warby Parker Inc. (WRBY) Latest News

5 Nov

Impact 4 · · The Motley Fool transcript
Impact 3 · · The Motley Fool
Impact 3 · · GuruFocus.com
Impact 3 · · Moby
Impact 3 · · StockStory
Impact 3 · · Business Wire

14 Oct

Impact 3 · · StockStory

29 Sep

Impact 4 · · StockStory
Impact 3 · · Barrons.com
Impact 3 ·

25 Sep

Impact 4 · · TIKR
Impact 3 · · Zacks

1 Sep

Impact 3 ·

19 Aug

Impact 3 ·

13 Aug

Impact 3 · · The Motley Fool transcript

10 Aug

Impact 3 ·

9 Aug

Impact 4 · · MarketBeat transcript

7 Aug

Impact 4 ·

6 Aug

Impact 4 · · Moby transcript
Impact 4 ·
Impact 4 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·

17 Jun

Impact 4 ·

19 May

Impact 4 · · Business Wire
Impact 3 · · Barrons.com

15 May

Impact 4 · · Simply Wall St.

9 May

Impact 4 · · Simply Wall St.
Impact 4 · · The Motley Fool

WRBY metrics, ten years each

stockrow.com/WRBY · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com