(WRBY) Warby Parker - Overview
Stock: Eyeglasses, Sunglasses, Contact Lenses, Accessories, Eye Exams
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 71.9% |
| Relative Tail Risk | -14.4% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.09 |
| Alpha | -32.53 |
| Character TTM | |
|---|---|
| Beta | 1.731 |
| Beta Downside | 1.672 |
| Drawdowns 3y | |
|---|---|
| Max DD | 50.74% |
| CAGR/Max DD | 0.34 |
Description: WRBY Warby Parker January 12, 2026
Warby Parker Inc. (NYSE: WRBY) designs, manufactures, and sells a full spectrum of eyewear-including prescription glasses, sunglasses, and contact lenses-through its own retail locations, e-commerce site, and mobile apps across the United States and Canada. The product suite also covers ancillary accessories (cases, anti-fog sprays, travel pouches) and in-store eye exams, positioning the firm as a vertically integrated “one-stop-shop” for vision care.
Since its 2009 incorporation and New York headquarters, the company has leveraged a direct-to-consumer (DTC) model that now accounts for roughly 80 % of total sales, with the remaining revenue generated via wholesale partnerships and optical clinics. In FY 2023, WRBY reported revenue of about **$1.0 billion**, a **12 % year-over-year increase**, driven largely by a **~15 % rise in same-store sales** and a **3.5 % lift in average order value** after expanding its premium lens offerings.
Key economic and sector drivers include: (1) **Growing consumer discretionary spending** on premium eyewear as U.S. disposable income rebounds; (2) **Increasing demand for blue-light and light-responsive lenses** amid remote-work and screen-time trends; and (3) **Regulatory shifts** that favor tele-optometry, enabling Warby Parker to capture a larger share of the vision-care market through virtual eye exams.
Financially, the firm maintains a **gross margin around 55 %** and generated **positive operating cash flow of $150 million** in the most recent quarter, reflecting efficient supply-chain management and a high-margin accessory mix. However, the **stock’s forward price-to-sales multiple of ~8×** remains elevated relative to the broader specialty-retail peer group, implying that continued top-line acceleration and margin expansion are critical to justify valuation.
For a deeper quantitative dive, the ValueRay platform offers a granular breakdown of WRBY’s financials and valuation metrics.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income: 717.0k TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 0.23 > 1.0 |
| NWC/Revenue: 24.92% < 20% (prev 25.74%; Δ -0.81% < -1%) |
| CFO/TA 0.15 > 3% & CFO 107.4m > Net Income 717.0k |
| Net Debt (-47.8m) to EBITDA (43.8m): -1.09 < 3 |
| Current Ratio: 2.61 > 1.5 & < 3 |
| Outstanding Shares: last quarter (124.9m) vs 12m ago 3.31% < -2% |
| Gross Margin: 54.39% > 18% (prev 0.54%; Δ 5385 % > 0.5%) |
| Asset Turnover: 126.5% > 50% (prev 116.4%; Δ 10.10% > 0%) |
| Interest Coverage Ratio: -0.81 > 6 (EBITDA TTM 43.8m / Interest Expense TTM -7.07m) |
Altman Z'' -3.34
| A: 0.30 (Total Current Assets 344.1m - Total Current Liabilities 132.1m) / Total Assets 706.9m |
| B: -0.96 (Retained Earnings -679.6m / Total Assets 706.9m) |
| C: -0.01 (EBIT TTM -5.72m / Avg Total Assets 672.5m) |
| D: -2.02 (Book Value of Equity -681.3m / Total Liabilities 337.3m) |
| Altman-Z'' Score: -3.34 = D |
Beneish M -3.20
| DSRI: 0.91 (Receivables 1.14m/1.09m, Revenue 850.6m/742.5m) |
| GMI: 1.00 (GM 54.39% / 54.35%) |
| AQI: 0.91 (AQ_t 0.01 / AQ_t-1 0.01) |
| SGI: 1.15 (Revenue 850.6m / 742.5m) |
| TATA: -0.15 (NI 717.0k - CFO 107.4m) / TA 706.9m) |
| Beneish M-Score: -3.20 (Cap -4..+1) = AA |
What is the price of WRBY shares?
Over the past week, the price has changed by -11.36%, over one month by +2.41%, over three months by +24.99% and over the past year by -11.52%.
Is WRBY a buy, sell or hold?
- StrongBuy: 6
- Buy: 3
- Hold: 6
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the WRBY price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 27.3 | 14.4% |
| Analysts Target Price | 27.3 | 14.4% |
| ValueRay Target Price | 23.9 | 0.2% |
WRBY Fundamental Data Overview February 03, 2026
P/S = 3.6639
P/B = 8.8775
Revenue TTM = 850.6m USD
EBIT TTM = -5.72m USD
EBITDA TTM = 43.8m USD
Long Term Debt = 232.5m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 28.6m USD (from shortTermDebt, last quarter)
Debt = 232.5m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -47.8m USD (from netDebt column, last quarter)
Enterprise Value = 3.07b USD (3.12b + Debt 232.5m - CCE 280.4m)
Interest Coverage Ratio = -0.81 (Ebit TTM -5.72m / Interest Expense TTM -7.07m)
EV/FCF = 81.19x (Enterprise Value 3.07b / FCF TTM 37.8m)
FCF Yield = 1.23% (FCF TTM 37.8m / Enterprise Value 3.07b)
FCF Margin = 4.44% (FCF TTM 37.8m / Revenue TTM 850.6m)
Net Margin = 0.08% (Net Income TTM 717.0k / Revenue TTM 850.6m)
Gross Margin = 54.39% ((Revenue TTM 850.6m - Cost of Revenue TTM 387.9m) / Revenue TTM)
Gross Margin QoQ = 54.11% (prev 52.97%)
Tobins Q-Ratio = 4.34 (Enterprise Value 3.07b / Total Assets 706.9m)
Interest Expense / Debt = 0.81% (Interest Expense 1.88m / Debt 232.5m)
Taxrate = 21.0% (US default 21%)
NOPAT = -4.52m (EBIT -5.72m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.61 (Total Current Assets 344.1m / Total Current Liabilities 132.1m)
Debt / Equity = 0.63 (Debt 232.5m / totalStockholderEquity, last quarter 369.6m)
Debt / EBITDA = -1.09 (Net Debt -47.8m / EBITDA 43.8m)
Debt / FCF = -1.27 (Net Debt -47.8m / FCF TTM 37.8m)
Total Stockholder Equity = 356.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 0.11% (Net Income 717.0k / Total Assets 706.9m)
RoE = 0.20% (Net Income TTM 717.0k / Total Stockholder Equity 356.3m)
RoCE = -0.97% (EBIT -5.72m / Capital Employed (Equity 356.3m + L.T.Debt 232.5m))
RoIC = -1.27% (negative operating profit) (NOPAT -4.52m / Invested Capital 356.3m)
WACC = 11.48% (E(3.12b)/V(3.35b) * Re(12.29%) + D(232.5m)/V(3.35b) * Rd(0.81%) * (1-Tc(0.21)))
Discount Rate = 12.29% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 2.63%
[DCF Debug] Terminal Value 56.35% ; FCFF base≈35.7m ; Y1≈23.4m ; Y5≈10.7m
Fair Price DCF = 1.70 (EV 132.2m - Net Debt -47.8m = Equity 180.1m / Shares 105.7m; r=11.48% [WACC]; 5y FCF grow -40.0% → 2.90% )
[DCF Warning] FCF declining rapidly (-40.0%), DCF may be unreliable
EPS Correlation: 53.43 | EPS CAGR: 34.36% | SUE: 0.75 | # QB: 0
Revenue Correlation: 94.53 | Revenue CAGR: 14.62% | SUE: -1.34 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.15 | Chg30d=+0.000 | Revisions Net=+1 | Analysts=7
EPS next Year (2026-12-31): EPS=0.49 | Chg30d=-0.001 | Revisions Net=+2 | Growth EPS=+32.9% | Growth Revenue=+13.1%