Saturday 17 October 2026
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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. In the quarter to June 2026, revenue grew 9.81%, EPS grew 379.7% and free cash flow fell 71.8%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
23.40
1.19
−4.84%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | — | — | — | — | — | 42.03 | 10.86 | 9.50 | 11.35 | 13.63 |
Analyst estimates 2026–2028 Powerpack |
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| High | — | — | — | — | — | 60.30 | 47.29 | 17.88 | 25.89 | 31.00 | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | — | 2,759 | 3,033 | 3,032 | 3,491 | 3,780 | 4,036 | ||||
| Revenue/emp, $m | — | — | — | 0.00 | 0.14 | 0.18 | 0.20 | 0.19 | 0.20 | 0.22 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | — | — | — | 370 | 394 | 541 | 598 | 670 | 771 | 872 | ||||
| Gross margin, % | — | — | — | 60.22 | 58.91 | 58.76 | 57.02 | 54.53 | 55.34 | 53.97 | |||||
| EBT | — | — | — | 0 | (56) | (144) | (110) | (63) | (20) | 3 | |||||
| EBT margin, % | — | — | — | 0.07 | (14.15) | (26.63) | (18.37) | (9.37) | (2.53) | 0.35 | |||||
| Net income | — | 0 | — | 0 | (56) | (144) | (110) | (63) | (20) | 2 | |||||
| Depreciation | — | — | — | 15 | 18 | 22 | 32 | 41 | 50 | 54 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | — | — | — | 7.07 | 7.42 | 7.59 | 5.20 | 5.71 | 6.41 | 7.11 | ||||
| Earnings | — | — | — | (0.52) | (1.05) | (2.21) | (0.96) | (0.54) | (0.17) | 0.01 | |||||
| Cash flow | — | — | — | 0.41 | 0.62 | (0.45) | 0.09 | 0.52 | 0.82 | 0.90 | |||||
| Capex | — | — | — | (0.62) | (0.38) | (0.68) | (0.52) | (0.46) | (0.53) | (0.55) | |||||
| Free cash flow | — | — | — | (0.21) | 0.24 | (1.13) | (0.43) | 0.06 | 0.29 | 0.36 | |||||
| Book value | — | — | — | 0.00 | (3.74) | 4.01 | 2.49 | 2.57 | 2.82 | 3.00 | |||||
| Shares, m | — | — | — | 52 | 53 | 71 | 115 | 117 | 120 | 123 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,387.90 | ||||
| P/S | — | — | — | 6.04 | 6.04 | 6.13 | 2.75 | 2.61 | 3.78 | 3.07 | |||||
| P/B | — | — | — | 0.00 | 0.00 | 11.60 | 5.75 | 5.80 | 8.57 | 7.27 | |||||
| EV/Sales | — | — | — | 5.50 | 5.50 | 5.66 | 2.41 | 2.29 | 3.45 | 2.74 | |||||
| EV/FCF | — | — | — | (196.95) | (196.95) | (38.02) | (28.88) | 209.32 | 76.64 | 54.57 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | 21 | 33 | (32) | 10 | 61 | 99 | 111 | ||||
| Capex | — | — | — | (33) | (20) | (49) | (60) | (54) | (64) | (67) | |||||
| Free cash flow | — | — | — | (11) | 13 | (81) | (50) | 7 | 35 | 44 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | — | — | — | 16 | 255 | 210 | 165 | 172 | 196 | 202 | ||||
| Total debt | — | — | — | — | — | — | 173 | — | — | — | |||||
| Net debt | — | — | — | (55) | (314) | (256) | (209) | (217) | (254) | (286) | |||||
| Shareholders’ equity | — | — | — | — | (198) | 286 | 287 | 302 | 340 | 368 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | — | — | — | 0.00 | (25.15) | (35.56) | (21.87) | (11.00) | (3.24) | 0.23 | ||||
| ROIC | — | — | — | 0.00 | 0.00 | (303.52) | (89.04) | (53.00) | (21.91) | (4.10) | |||||
| ROE | — | — | — | 29.69 | 28.86 | (358.15) | (38.56) | (21.48) | (6.35) | 0.46 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
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 |
|---|---|---|---|---|---|---|---|---|---|
| MMSI Merit Medical Systems, Inc. | $5.4B | 36.4× | 23.4× | +9.51% (above 0%: growing) | +18.18% (above 0%: growing) | −25.66% (below 0%: shrinking) | 51.37% | 14.42% | Compare |
| STVN Stevanato Group S.p.A. | $5.3B | 33.8× | 27.5× | +10.46% (above 0%: growing) | −25.00% (below 0%: shrinking) | −167.02% (below 0%: shrinking) | 28.75% | 12.93% | Compare |
| ICUI ICU Medical, Inc. | $4.2B | 136× | 49.5× | +0.51% (above 0%: growing) | −46.85% (below 0%: shrinking) | +655.98% (above 0%: growing) | 42.61% | 7.09% | Compare |
| NVST Envista Holdings Corporation | $3.8B | 38.8× | 24.4× | +7.10% (above 0%: growing) | +106.25% (above 0%: growing) | +37.57% (above 0%: growing) | 55.72% | 10.99% | Compare |
| PLSE Pulse Biosciences, Inc | $3.3B | — (loss-making) | — (loss-making) | +4,922.22% (above 0%: growing) | n/m | −45.39% (below 0%: shrinking) | 37.10% | (5,823.04%) | Compare |
| WRBY Warby Parker Inc. | $3.0B | 334× | 122× | +9.81% (above 0%: growing) | n/m | −71.75% (below 0%: shrinking) | 57.94% | 1.34% | |
| ATRC AtriCure, Inc. | $2.9B | 259× | 591× | +12.83% (above 0%: growing) | n/m | −2.79% (below 0%: shrinking) | 77.23% | 6.29% | Compare |
| LMAT LeMaitre Vascular, Inc. | $1.9B | 27.9× | 31.5× | +9.57% (above 0%: growing) | +22.95% (above 0%: growing) | −27.95% (below 0%: shrinking) | 72.13% | 28.98% | Compare |
| XRAY DENTSPLY SIRONA Inc. | $1.8B | — (loss-making) | 27.0× | −4.06% (below 0%: shrinking) | n/m | +252.94% (above 0%: growing) | 54.90% | 9.13% | Compare |
| Median of peers | $3.5B | 37.6× | 27.5× | +9.54% | +18.18% | −14.22% | 53.14% | 10.06% |
Warby Parker Inc. (WRBY) key facts
- Strength: Warby Parker Inc.’s revenue for fiscal 2025 (year ended December 2025) was $871.9 million, up 13.0% from fiscal 2024.
- Warby Parker Inc. (WRBY) is a Medical Instruments & Supplies company in the Healthcare sector, listed on the New York Stock Exchange.
- As of October 16, 2026, WRBY traded at $23.40, a market capitalization of $3.0 billion.
- Return on equity was 0.46% and debt-to-equity 0.00.
- Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 4.73 (safe zone) for fiscal 2025.