Warby Parker Inc. (WRBY) Stock Analysis
Healthcare · Medical Instruments & Supplies · NYSE
Warby Parker Inc. (WRBY) posted $871.90M in revenue for fiscal 2025 (up 13.0% year over year), at a 0.2% net margin, and has compounded revenue about 17.2%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Warby Parker Inc.
Warby Parker Inc. has grown revenue from $370.46M to $871.90M over the last 7 fiscal years, compounding about 17.2% a year. The most recent year was up 13%, so growth has cooled from its longer-run pace.
Net margin sits at 0.2%, up 2.8 points year over year on a 54% gross margin.
At today's valuation the market is pricing in roughly 25.3% annual free-cash-flow growth — versus the 28.1% it actually delivered over the last five years, broadly in line with what it has delivered. The one thing worth a second look in the filings is receivables growing faster than sales.
Synthesised from Warby Parker Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Warby Parker Inc. revenue & earnings — last 7 fiscal years
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $370.46M | $393.72M | $540.80M | $598.11M | $669.76M | $771.32M | $871.90M |
| Gross profit | $223.11M | $231.94M | $317.75M | $341.06M | $365.22M | $426.83M | $470.58M |
| Net income | $0 | $-55.92M | $-144.27M | $-110.39M | $-63.20M | $-20.39M | $1.64M |
| Net margin | 0.0% | -14.2% | -26.7% | -18.5% | -9.4% | -2.6% | 0.2% |
Source: Warby Parker Inc. SEC filings (10-K).
Warby Parker Inc.: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Receivables growing faster than salesAccounts receivable rose 68.6% while revenue rose 13.0% in the latest year — a gap that can signal looser credit terms or pulled-forward sales. Worth checking days-sales-outstanding.
What growth is priced into WRBY stock?
At today's market cap of $3.17B, Warby Parker Inc. is priced for free-cash-flow growth of about 25.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $43.74M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 28.1%/yr over the last five fiscal years and revenue 17.2%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 7 years of Warby Parker Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Warby Parker Inc. financial history by metric
About Warby Parker Inc.
Warby Parker Inc. sells eyewear products through its retail and e-commerce platform in the United States and Canada. The company offers eyeglasses and sunglasses; and single-vision, progressive, light-responsive, polarized, blue-light-filtering, tinted, non-prescription, and contact lenses. It also provides accessories, such as cases, pouches, lenses kit with anti-fog spray, travel cases, lenses cloth, anti-fog lens spray, and sun clip-ons through its stores, website, and mobile apps. In addition, the company offers eye exams and vision tests, as well as optical services. Warby Parker Inc. was incorporated in 2009 and is headquartered in New York, New York.
Warby Parker Inc. — frequently asked questions
What is Warby Parker Inc.'s revenue?
Warby Parker Inc. (WRBY) reported revenue of $871.90M for fiscal year 2025, up 13.0% from the prior year, according to its SEC filings.
Is Warby Parker Inc. profitable?
Yes. WRBY earned net income of $1.64M in fiscal 2025, a net margin of 0.2%.
What is WRBY's P/E ratio?
Warby Parker Inc. trades at a price-to-earnings ratio of about 2581.5 based on the latest data in our nightly-refreshed cache.
How fast is Warby Parker Inc. growing?
WRBY's revenue grew at roughly 17.2% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Warby Parker Inc. have?
As of fiscal year 2025, WRBY carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Warby Parker Inc.'s gross margin?
WRBY's gross margin was 54.0% in fiscal 2025 — gross profit of $470.58M on revenue of $871.90M.
What is Warby Parker Inc.'s market cap?
Warby Parker Inc. (WRBY) has a market capitalization of about $3.17B, based on the latest data in our nightly-refreshed cache.
When does Warby Parker Inc.'s fiscal year end?
WRBY's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into WRBY stock?
At today's market cap of $3.17B, Warby Parker Inc. is priced for free-cash-flow growth of about 25.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $43.74M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 28.1%/yr over the last five fiscal years and revenue 17.2%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Warby Parker Inc.'s official SEC filings (10-K and 10-Q), covering 7 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.