What is Wayfair's gain on lease modification?

Wayfair (W) reported gain on lease modification of $3.75M in Q4 2025.

What does gain on lease modification mean?

Accounting gains or losses resulting from changes to lease contract terms.

How do you interpret gain on lease modification?

Gains often signal favorable renegotiations or lease terminations, while losses may indicate restructuring costs.

How does gain on lease modification compare across companies?

Varies significantly based on real estate strategy and lease portfolio management.

Wayfair W Gain on lease modification

Gain on lease modification at other companies

Axsome TherapeuticsAXSM

$2.25M—

Verisk Analytics, Inc.VRSK

$0—

Burlington StoresBURL

-$655K—

VICI Properties Inc.VICI

$0—

VICI Properties Inc.VICI

$0—

PEA

PEAKPEAK

——

Other financials

Income statement

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Revenue$2.9B+7.4%

Gross profit$880.0M+5.1%

Operating income-$11.0M+91.0%

Net income-$105.0M+7.1%

EPS (diluted)-$0.80+10.1%

Balance sheet

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Cash & equivalents$1.0B-25.0%

Total debt$3.6B-7.1%

Total equity-$2.8B-1.2%

Total assets$2.9B-16.1%

Cash flow

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Operating cash flow-$52.0M+45.8%

CapEx$25.0M+400%

Free cash flow-$77.0M+23.8%

Valuation

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Market cap$11.68B+142%

Enterprise value$14.32B+87.7%

P/S0.9×+0.5×

Profitability

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Gross margin30.1%-0.2pp

Operating margin1%+0.6pp

Net margin-2.4%-0.4pp

FCF margin3.9%+1.4pp

Returns & leverage

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Return on equity-380.2%—

Debt / equity135.6×—

Current ratio0.8×-0.1×

Where this comes from

Reported directly by Wayfair in its filing.

Tagged under the XBRL concept w:GainLossOnModificationOfLease.

The official record: Wayfair’s 10-K, filed February 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Wayfair's gain on lease modification?: Wayfair (W) reported gain on lease modification of $3.75M in Q4 2025.
What does gain on lease modification mean?: Accounting gains or losses resulting from changes to lease contract terms.
How do you interpret gain on lease modification?: Gains often signal favorable renegotiations or lease terminations, while losses may indicate restructuring costs.
How does gain on lease modification compare across companies?: Varies significantly based on real estate strategy and lease portfolio management.