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Online retailer of furniture and home goods, aggregating a huge catalog from suppliers with drop-ship logistics.
Online retailer of furniture and home goods, aggregating a huge catalog from suppliers with drop-ship logistics.
Suppliers ship most items directly to customers, so it holds little stock. It earns the gap between the shopper's price and what suppliers charge, plus advertising fees from suppliers paying for placement, and has built its own warehouses for bulkier items (CastleGate) to speed delivery.
Moat: narrow (scale, data, distribution). Large supplier/catalog network and logistics investment, but has struggled to reach sustained profitability against Amazon and retailers.
Headquarters: Boston, Massachusetts, United States · Founded: 2002 · Employees: 12,800
Size Wayfair (W) is a United States Consumer Discretionary company (Specialty Stores) with a market value of $15.3B, the 589th largest of 3,117 United States companies the cockpit tracks. Shares closed at $111.74 on 6 Nov 2026.
Performance Over six months the shares gained 68.8%, against +18.6% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 7.9% over the last twelve months (peer median +6.8%); the operating margin is 2.2% (peer median 5.3%).
Valuation It trades at 29.6× forward earnings against a peer median of 17.1× (2nd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 48% a year for seven years (Req g). Recent delivered growth is -3%, so the hurdle is +50 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Credit Wayfair has 3 bonds outstanding ($1.63B), rated BB+ by the agencies and trading like BB+ at a weighted spread of 162 bp.
Short interest Short interest is 9.2% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $13.2B | $12.5B | $11.9B | $12.0B | $12.2B |
| Revenue growth | — | +5% | -1% | -2% | — |
| Gross profit | $3.96B | $3.77B | $3.57B | $3.67B | $3.42B |
| EBITDA | $560M | $398M | $42.0M | -$317M | -$943M |
| Net income | -$160M | -$313M | -$492M | -$738M | -$1.33B |
| Free cash flow | $476M | $329M | $83.0M | -$2.00M | -$1.13B |
| Capital expenditure | $232M | $205M | $234M | $351M | $458M |
| Total debt | $3.44B | $4.30B | $4.22B | $4.20B | $4.16B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Wayfair W | $15.3B | +69% | +8% | 2% | 29.6× | 47.7% |
| Amazon AMZN | $2.80T | -5% | +15% | 13% | 26.3× | n/a |
| Williams-Sonoma WSM | $29.9B | +40% | +2% | 19% | 25.6× | 15.4% |
| RH RH | $2.48B | -2% | +3% | 10% | 20.2× | 11.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | W | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.3% | +5.4% | 11th highest of 21 |
| 6-month return | +68.8% | +18.6% | highest of 21 |
| Distance from 52-week high | -12.7% | -18.3% | 10th highest of 21 |
| Revenue growth (TTM) | +7.9% | +6.8% | 10th highest of 21 |
| Operating margin | 2.2% | 5.3% | 2nd lowest of 21 |
| Forward P/E | 29.6× | 17.1× | 2nd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 47.7% | 4.4% | most demanding of 17 |
| Growth delivered (Del g) | -2.5% | +8.6% | lowest of 17 |
| Hurdle (Req g minus delivered) | +50.2 pp | -3.8 pp | most demanding of 17 |
| Net debt / EBITDA | 4.2× | 2.2× | 5th most indebted of 21 |
| Bond spread | 162 bp | 109 bp | widest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wayfair W | United States | $15.3B | +69% | +8% | 2% | 29.6× | 47.7% | -2.5% |
| Penske Automotive PAG | United States | $13.9B | +22% | +6% | 3% | 15.2× | 12.6% | +9.2% |
| BJ's Wholesale Club BJ | United States | $13.8B | +18% | +9% | 4% | 22.4× | -0.7% | +6.8% |
| Dick's Sporting Goods DKS | United States | $12.5B | -35% | +54% | 6% | 11.8× | 8.7% | +12.4% |
| Tractor Supply TSCO | United States | $18.9B | +20% | +4% | 9% | 18.0× | 4.1% | +7.9% |
| Nitori 9843.T | Japan | $11.7B | +47% | 0% | 13% | 20.0× | 2.7% | +4.9% |
| Carrefour CA.PA | France | $11.1B | -21% | -8% | 3% | 8.4× | -1.2% | +3.1% |
| Sanrio 8136.T | Japan | $9.78B | +33% | +28% | 39% | 22.4× | 1.9% | +36.4% |
| Murphy USA MUSA | United States | $9.45B | -10% | +20% | 4% | 17.5× | -9.4% | +11.5% |
| Ulta Beauty ULTA | United States | $27.6B | +24% | +11% | 13% | 21.1× | 7.1% | +15.0% |
| Williams-Sonoma WSM | United States | $29.9B | +40% | +2% | 19% | 25.6× | 15.4% | +2.9% |
| CarMax KMX | United States | $7.31B | +28% | +4% | 2% | 15.5× | 17.6% | +6.7% |
| Pepco Group BV PCO.WA | Poland | $7.18B | +58% | -42% | 15% | 16.8× | 4.6% | +4.5% |
| Lithia Motors LAD | United States | $6.68B | +5% | +1% | 4% | 8.0× | n/a | n/a |
| Kalyan Jewellers India KALYANKJIL.NS | India | $6.47B | +44% | +46% | 6% | 37.6× | n/a | n/a |
| Ultrapar Participacoes S.A. Sponsored ADR UGP | United States | $6.12B | -11% | +20% | 5% | 7.0× | -12.6% | +12.2% |
| AutoNation AN | United States | $5.88B | -11% | -2% | 5% | 8.3× | n/a | n/a |
| Frasers FRAS.L | United Kingdom | $5.64B | +44% | +8% | 7% | 9.1× | n/a | n/a |
| Rush Enterprises RUSHA | United States | $5.54B | +6% | -3% | 5% | 15.4× | 7.9% | +9.4% |
| PriceSmart PSMT | United States | $5.02B | +3% | +12% | 5% | 27.2× | 10.5% | +10.2% |
| AutoZone AZO | United States | $51.8B | -8% | +7% | 18% | 19.0× | -2.8% | +6.8% |
Wayfair has 3 bonds outstanding with $1.63B face value. The agencies rate it BB+; its bonds trade like BB+. Weighted yield 6.28%, a spread of 162 bp over government bonds.