Value Investor
Start free

Wayfair

W on NYSE. Wayfair sells furniture, decor, housewares and home improvement products to homes and businesses. Market value $5.2bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Retail & consumer stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
4.2%fair

For every $100 of what the whole company costs, it produced $4.16 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
71.0×full

You pay 71.0 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: 25 of 100. Price score: 23 of 100. Our list needs 70 on quality and 60 on price.

$105.45 a share, 90% above its 1-year low

Over the past year the price has ranged from $55.60 to $119.98.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.3
-0.9
0.2
n/a
0.5
0.6
2021202220232024202512 monthsto Jun '26
Revenue
$13.7bn$12.2bn$12.0bn$11.9bn$12.5bn
Operating margin
-0.7%-11.3%-6.8%-3.9%0.1%
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.10bn0.11bn0.11bn0.12bn0.13bn

Health checks

  • Free cash flow positive3 of 4 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)5 of 8 checks we could run
  • Profit backed by cash (accruals)No
  • DebtUnknown
  • Revenue growth, five yearsShrinking, 2.5% a year
  • Buying back its own sharesNo, 23% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $3.5 billion last quarter, up 8% on a year ago.
  • A loss of $1 million, after a profit of $15 million a year ago.
  • It keeps 2 cents of each $1 of sales as operating profit, after losing 2 cents a year earlier.
  • 2% more shares than a year ago. Each share owns a bit less of the company.
  • Debt is $1.8 billion more than cash, up from $1.7 billion a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$2.9bn
December 2024$3.1bn
March 2025$2.7bn
June 2025$3.3bn
September 2025$3.1bn
December 2025$3.3bn
March 2026$2.9bn
June 2026$3.5bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$74m
December 2024-$128m
March 2025-$113m
June 2025$15m
September 2025-$99m
December 2025-$116m
March 2026-$105m
June 2026-$1m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
19 February 2026
Next quarterly (estimated, 10-Q)
3 November 2026

Who owns it

2 long-term investors we follow own it, unchanged from 2 last quarter. 456 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

6 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 5 sold $230m, $230m of it under preset trading plans.

  • Blotner Jon
    Pres., Commercial & Operations
    Sold
    under a preset trading plan
    Date
    2 October 2026
    Shares
    6,056
    Price
    $104.13
    Value
    $630,611
  • Tan Fiona
    Chief Technology Officer
    Sold
    under a preset trading plan
    Date
    1 October 2026
    Shares
    7,000
    Price
    $102.18
    Value
    $715,260
  • Conine Steven
    Director
    Sold
    under a preset trading plan
    Date
    14 September 2026
    Shares
    69,000
    Price
    $103.36
    Value
    $7m
  • Shah Niraj
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    14 September 2026
    Shares
    69,000
    Price
    $103.35
    Value
    $7m
  • Blotner Jon
    Pres., Commercial & Operations
    Sold
    under a preset trading plan
    Date
    8 September 2026
    Shares
    6,968
    Price
    $100.22
    Value
    $698,333
  • Shah Niraj
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    12 August 2026
    Shares
    69,000
    Price
    $103.36
    Value
    $7m
  • Conine Steven
    Director
    Sold
    under a preset trading plan
    Date
    12 August 2026
    Shares
    69,000
    Price
    $103.36
    Value
    $7m
  • Blotner Jon
    Pres., Commercial & Operations
    Sold
    under a preset trading plan
    Date
    2 July 2026
    Shares
    5,925
    Price
    $96.29
    Value
    $570,518
  • Conine Steven
    Director
    Sold
    under a preset trading plan
    Date
    24 April 2026
    Shares
    7,139
    Price
    $78.55
    Value
    $560,776
  • Shah Niraj
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    24 April 2026
    Shares
    6,137
    Price
    $78.62
    Value
    $482,478

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

  • Sales have shrunk: 2.5% a year.
  • It owes more than it owns on paper (negative equity). Often that's from borrowing to buy back shares.
  • It isn't cheap on profits: 71.0× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
Create a free account to run it

Your first deep dive is free.

What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.