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Wayfair W Operating margin

Operating margin at other companies

Target logo
TargetTGT
4.5%-0.9pp
Lowe's Companies logo
Lowe's CompaniesLOW
11.5%-0.8pp
Walmart
 logo
Walmart WMT
4.2%-0.2pp
Home Depot logo
Home DepotHD
12.4%-0.8pp
Williams-Sonoma logo
Williams-SonomaWSM
18%-0.1pp
Amazon logo
AmazonAMZN
11.5%+0.5pp

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
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

Calculated from Wayfair’s reported figures.

Based on trailing twelve months.

The official record: Wayfair’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Wayfair's operating margin?
Wayfair (W) reported operating margin of 1% in Q1 2026.
How has Wayfair's operating margin changed year-over-year?
Wayfair's operating margin increased by 134.4% year-over-year, from -2.9% to 1%.
What is the long-term trend for Wayfair's operating margin?
Over 5 years (2020 to 2025), Wayfair's operating margin has grown at a -44.3% compound annual growth rate (CAGR), from 2.5% to 0.1%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.