Warby Parker Inc. (WRBY) AI Stock Analysis

Warby Parker Inc. is an eyewear company that provides eyeglasses, sunglasses, contact lenses, and accessories such as lens care essentials and anti-fog spray kits. It also offers specialized lenses, including light-responsive and blue-light-filtering options. Founded in 2009 and headquartered in New York, the company operates a retail network of 160 stores across the United States and Canada alongside online and mobile platforms. Using a direct-to-consumer model, Warby Parker pairs affordable pricing with eye exams and vision tests, while operating social impact initiatives such as its "Buy a Pair, Give a Pair" program.

Warby Parker increased revenue from $540.8M in FY2021 to $871.9M in FY2025, recording a 5-year revenue CAGR of 17.2% from FY2020 to FY2025. Annual revenue grew 13.0% in FY2025, following 15.2% growth in FY2024. Profitability improved over this period, with net income rising from -$144.3M in FY2021 to $1.6M in FY2025, while operating margin improved from -26.6% to -0.6%. Gross margin was 54.0% in FY2025 compared to 58.8% in FY2021. For the trailing twelve months ended June 30, 2026, revenue stood at $911.6M, though quarterly earnings fell 9.6% year-over-year while quarterly revenue rose 9.8%.

As of June 30, 2026, Warby Parker held $292.7M in cash and short-term investments against total debt of $251.0M, resulting in net cash of $41.7M. The company maintained a current ratio of 2.27, total assets of $772.3M, and shareholders' equity of $392.0M, with a debt-to-equity ratio of 0.64. In FY2025, operating cash flow reached $110.8M, supporting capital expenditures of $67.0M and generating free cash flow of $43.7M. Over five years, the diluted share count increased by 11.8%.

Trading at $23.34 as of October 16, 2026, Warby Parker has a market capitalization of $2.89B and an enterprise value of $2.84B. The stock trades at a trailing P/E of 389.0x and a forward P/E of 54.3x, both above the median of its US-listed Healthcare peers at 24.6x and 17.3x, respectively. Its EV/to EBITDA stands at 51.7x compared to the peer median of 12.0x, while its price-to-sales of 3.2x sits below the peer median of 4.1x. Over the past year, WRBY returned 8.4% compared to 16.8% for SPY, and over five years returned -57.4% versus 83.0% for SPY.

Wall Street coverage includes 8 Strong Buy, 2 Buy, and 4 Hold ratings, with no Sell or Strong Sell recommendations. The mean price target is $30.46, representing a 30.5% premium to the last close of $23.34. For the fiscal year ending December 31, 2026, analysts estimate revenue of $971.1M and EPS of $0.42, implying 97.2% EPS growth. For the next fiscal year, 9 analysts project revenue of $1.14B and EPS of $0.61. Over the last 4 quarters, the company beat EPS estimates 1 time. The next earnings date is November 5, 2026.

This page is an AI-written research summary of Warby Parker Inc. (WRBY). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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