WRBY
Warby Parker Inc.
WRBY's fundamentals are strong: earnings per share more than tripled and revenue grew 9.9%, though free cash flow fell 44%. At 535x earnings, it's trading less than half its usual 2277x. Analysts expect that strong growth to continue, though they disagree widely on how much.
WRBY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Under pressure | |
| Strong |
WRBY's revenue, profitability and balance sheet are currently healthy, but its cash flow is under pressure.
WRBY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 53x | $26.73 | — |
| Cheap | 439x | $21.93 | -18% |
| Current | 535x | $26.73 | — |
| Fair | 2,274x | $114 | +325% |
| Expensive | 2,646x | $132 | +395% |
Historical ranges are pointers, not guarantees.
WRBY's PE is in its cheap range at 535x. If earnings grow as analysts expect, today's price would be 53x next year's earnings.
WRBY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for WRBY, with profitability improving. However, they disagree widely on these estimates.
WRBY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.51 | +916% |
| Q3 2026 | $0.05 | +400% |
| Q2 2026 | $0.06 | +$0.13 |
| Q1 2026 | $0.01 | +$0.13 |
| Q4 2025 | $0.01 | +$0.18 |
| Q3 2025 | $0.01 | +$0.28 |
| Q2 2025 | -$0.07 | +$0.32 |
| Q1 2025 | -$0.12 | +$0.35 |
| Q4 2024 | -$0.17 | +$0.37 |
WRBY's earnings per share have climbed steadily: $0.05 over the past year, about five times what it earned the year before, and higher year over year every quarter since early 2023.
WRBY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $244.7M | +10% |
| Q2 2026 | $235.5M | +9.8% |
| Q1 2026 | $242.4M | +8.3% |
| Q4 2025 | $212M | +11% |
| Q3 2025 | $221.7M | +15% |
| Q2 2025 | $214.5M | +14% |
| Q1 2025 | $223.8M | +12% |
| Q4 2024 | $190.6M | +18% |
WRBY's revenue has grown year over year every quarter since early 2021: $245M last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 1.4% | -0.2 points |
| Q2 2026 | 1.3% | +3.5 points |
| Q1 2026 | 0.7% | -0.4 points |
| Q4 2025 | -3.2% | +1.7 points |
| Q3 2025 | 1.6% | +5 points |
| Q2 2025 | -2.1% | +2.6 points |
| Q1 2025 | 1.1% | +3.7 points |
| Q4 2024 | -4.9% | +8.4 points |
WRBY's operating margin was 1.4% last quarter, about level with the same quarter a year ago.
WRBY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$2M | -$459K |
| Q2 2026 | $6.8M | -72% |
| Q1 2026 | $8.4M | -37% |
| Q4 2025 | $8.1M | +271% |
| Q3 2025 | -$1.5M | -112% |
| Q2 2025 | $23.9M | +71% |
| Q1 2025 | $13.2M | +141% |
| Q4 2024 | $2.2M | +2282% |
WRBY usually generates cash, though not every quarter: the latest was −$2M, but it generated $21M over the past year.
WRBY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +401K shares |
| 1 year | +0.6% | +741K shares |
| 3 years | +6.9% | +8.1M shares |
| 5 years | +101% | +63.3M shares |
WRBY has 126M diluted shares, up 0.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q2 2021 | $2M |
| Q1 2021 | $6.1M |
| Q4 2020 | — |
WRBY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -5.1x | Net Cash |
| Q2 2026 | -5.3x | Net Cash |
| Q1 2026 | -6.3x | Net Cash |
| Q4 2025 | -6.4x | Net Cash |
| Q3 2025 | -6.7x | Net Cash |
| Q2 2025 | -9.3x | Net Cash |
| Q1 2025 | -10.6x | Net Cash |
| Q4 2024 | -16.1x | Net Cash |
WRBY has more cash than debt.
WRBY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.1 | Neutral |
| Stochastic | 40.8 | Neutral |
WRBY's weekly RSI is 53 (neutral) and its Stochastic is 41 (neutral).
WRBY PE vs Healthcare Sector
| Metric | WRBY | Sector median | Relative |
|---|---|---|---|
| PE | 535x | 26x | 1,968% above |
| PE % | 26 | 39 | 13 pts below |
WRBY is trading at 535x earnings, a 1968% premium to the Healthcare sector's median of 26x.
WRBY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $25.6 | 4.3% above |
| 20 week MA | $25.9 | 3.3% above |
| 50 week MA | $25.2 | 6.2% above |
| 100 week MA | $23.7 | 13% above |
| 200 week MA | $18.9 | 42% above |
WRBY is in an uptrend: it's above all five of its weekly moving averages, and 42% above its 200-week average.
WRBY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $53.7 | $47.5 | -12% |
| 2022 | $47.5 | $13.5 | -72% |
| 2023 | $13.5 | $14.1 | +4.2% |
| 2024 | $14.1 | $24.4 | +73% |
| 2025 | $24.4 | $24.2 | -1% |
| 2026 YTD | $24.2 | $26.7 | +11% |
WRBY has finished lower in three of the last five years. It's up 11% so far in 2026.