# Wayfair Inc. (W) — Stock CV

Wayfair Inc. is a $14.5B consumer company. Revenue grew 7.5% over the last year, it currently loses money, and its net debt equals ~3.0 years of free cash flow.

> Wayfair engages in e-commerce in the United States (88% of 2025 sales), Canada, the United Kingdom, and Ireland. It's also embarked on expansion into the brick-and-mortar landscape, with 13 stores (excluding outlets) between the AllModern, Birch Lane, Joss & Main, and Wayfair banners.

## Identity

- **Ticker**: W
- **Sector**: Consumer Cyclical
- **Industry**: Retail-Catalog & Mail-Order Houses
- **Headquarters**: BOSTON, MA
- **Employees**: 12 800
- **Website**: https://www.wayfair.com
- **Market cap**: $14.5B
- **Last price**: $105.74
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $12.9B
- **Net income**: -$321M
- **Free cash flow**: $562M
- **Net debt**: $1.69B
- **Revenue growth (YoY)**: 7.5%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 62 |
| Growth | 0 |
| Profitability | 0 |
| Health | 14 |
| Quality | 65 |
| Moat | 11 |

## Qualifications (beginner checklist) — 5 of 9 passed

- [x] Revenue growing — +7.5% YoY
- [ ] Profitable — -$321M TTM
- [x] Profit growing — +36.4% YoY
- [x] Generates cash — $562M TTM
- [x] Debt under control — ~3.0y of cash flow to repay
- [x] Established company — $14.5B market cap
- [ ] Not printing shares — +28.9% shares over ~5y
- [ ] Proven track record — 1/10 profitable years
- [ ] Financially stable — Altman Z 1.2 — distress

## Experience (career milestones)

- **2022** — Wayfair announced the opening of a flagship store in the King of Prussia Mall outside of Philadelphia, PA
- **FY2020** — Turned profitable: $185M net income after a loss year
- **FY2020** — Revenue crossed $10B: $14.1B for the year
- **FY2020** — Best year on record: $185M net income
- **Jul 10, 2020** — Wayfair became the subject of a conspiracy theory known as WayfairGate that accused the company of…
- **Mar 26, 2019** — Wayfair announced that its first permanent physical storefront would open in the Natick Mall in…
- **2018** — According to an August 2018 article in The Boston Globe, Wayfair added an additional 2,000 employees in the first…
- **FY2016** — Revenue already above $1B: $3.38B in first reported year
- **2013** — It acquired DwellStudio, a New York City-based design house and retailer focused on modern home and…
- **2012** — It launched Wayfair Supply, a single destination for Wayfair's business, government and…
- **Sep 1, 2011** — Wayfair.com launched on September 1, 2011
- **2002** — Formerly known as CSN Stores, it was founded in 2002, and currently offers 14 million items from more than 11,000…

## Strengths

- None stand out in the data.

## Watch-outs

- Not profitable — 2.5% net margin
- Altman Z-Score 1.25 — elevated financial-distress risk
- Thin interest coverage (-1.6×)
- Loss-making in 9 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $13.7B | -$131M | $309M |
| FY2022 | $12.2B | -$1.33B | -$860M |
| FY2023 | $12.0B | -$738M | $201M |
| FY2024 | $11.9B | -$492M | $244M |
| FY2025 | $12.5B | -$313M | $464M |

---

Source: https://stockcv.com/W — derived from company filings; may be delayed or incomplete. Information, not investment advice.