Warby Parker Inc. (WRBY) intrinsic value & 10-year financials
Warby Parker Inc. (WRBY) has a Graham intrinsic value of $0.33 per share. At $23.34 on Oct 17, 2026, the stock trades 6973% above that value. Over the last 8 fiscal years revenue grew 15.3% a year to $871.9M, with an average return on invested capital of -83.7%.
- Graham intrinsic value
- $0.33
- Share price (Oct 17, 2026)
- $23.34
- Price vs Graham value
- 6973% above
- Market cap
- $2.9B
- Revenue (FY2025)
- $871.9M
- Revenue growth (8-yr CAGR)
- 15.3%
- ROIC (10-yr avg)
- -83.7%
- Free cash flow (FY2025)
- $43.7M
WRBY 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $871.9M | $1.6M | $0.01 | $43.7M | -0.6% | -1.0% |
| FY2024 | $771.3M | -$20.4M | -$0.17 | $34.7M | -3.9% | -11.4% |
| FY2023 | $669.8M | -$63.2M | -$0.54 | $7.3M | -10.7% | -31.0% |
| FY2022 | $598.1M | -$110.4M | -$0.96 | -$49.8M | -18.6% | -86.0% |
| FY2021 | $540.8M | -$144.3M | -$2.21 | -$80.5M | -26.6% | -485.6% |
| FY2020 | $393.7M | -$55.9M | -$1.05 | $12.7M | -14.1% | 28.7% |
| FY2019 | $370.5M | $0 | -$1.10 | -$11.2M | -0.4% | 0.5% |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Warby Parker Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Warby Parker Inc. has historically struggled to out-earn its cost of capital, averaging just -15.0% ROIC.
Warby Parker Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Warby Parker Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $0.33 per share.