Warby Parker Inc (WRBY) fair value: what the stock is really worth
As of Nov 12, 2026: fair value (intrinsic value) of Warby Parker Inc stock $5.47, price $26.73, that is 79.5% below the price, quality 62 out of 100. Rating: strongly overvalued. Calculated from audited financials with 21 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 11, 2026.
How to read this chart
60‑month range $9.69 – $59.50 · fair‑value band $4.17 – $6.72 · the $26.73 price screens above the $5.47 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 11, 2026.
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Warby Parker Inc. sells eyewear products through its retail and e-commerce platform in the United States and Canada. The company offers eyeglasses and sunglasses; and single-vision, progressive, light-responsive, polarized, blue-light-filtering, tinted, non-prescription, and contact lenses.
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It also provides accessories, such as cases, pouches, lenses kit with anti-fog spray, travel cases, lenses cloth, anti-fog lens spray, and sun clip-ons through its stores, website, and mobile apps. In addition, the company offers eye exams and vision tests, as well as optical services.
Warby Parker Inc. was incorporated in 2009 and is headquartered in New York, New York.
Stock analysis
Warby Parker Inc (WRBY) currently trades at $26.73, while our model-based Fair Value estimate is $5.47, 80% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $9.29 per share, and 0 of the 21 models we run sit above the $26.73 price.
Bear case: the Economic Profit group reads lowest at $1.83, and 21 of the 21 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $4.17 (bear) to $6.72 (bull), the price of $26.73 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 62/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Warby Parker Inc reported revenue of $872M in FY2025 versus $541M in FY2021, a compound +12.7%/yr. Reported net income was $1.6M in FY2025.
Key figures
Market cap $3.4B Mid · P/E ratio 424.7 · P/S ratio 3.60 · EPS (TTM) $0.0600 · Net margin 0.8% · Return on equity 1.9% · Return on assets (EBIT) −14.0% (5-year average) · Operating margin 1.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 23 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 12% below its 52-week high and 62% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −43% fair-value upside, at −80%, WRBY screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely ($0.2200 to $13.02). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear$4.17Fair Value $5.47Bull$6.72
Price $26.73 · Downside -79.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.0521 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 6 officers or directors sold shares worth $27.6M and none bought.
SaleNeil Harris BlumenthalCo-Chief Executive Officer, Director11× since Dec 11, 2025: 900,000 shares, avg. $28.12$25.3MNov 9, 202610b5-1 plan
SaleDavid Abraham GilboaCo-Chief Executive Officer, Director7× since Dec 11, 2025: 821,970 shares, avg. $29.01$23.8MNov 9, 202610b5-1 plan
SaleJeffrey Jacob RaiderDirector5× since Dec 12, 2025: 95,000 shares, avg. $27.69$2.6MNov 9, 2026
SaleTeresa BriggsDirector5,000 shares at $25.94$129,683Jun 16, 202610b5-1 plan
SaleYoungme E MoonDirector2× since Dec 11, 2025: 48,832 shares, avg. $28.55$1.4MJun 12, 2026
SaleBradley E SingerDirector2× since Mar 4, 2026: 40,793 shares, avg. $28.19$1.1MMay 14, 2026
SaleJoel E CutlerDirector19,932 shares at $26.01$518,431Dec 16, 2025
Plus 19 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+13.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.2%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.3%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−14.1% (2020) → −0.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+40.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+13.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +37.5% a year for the price and +10.9% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (98 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Warby Parker's zero debt and positive cash flow provide a stable base, yet its limited durable moat and persistently low net margins remain the core constraint on business quality.
Main risk: The planned end of the home try-on program risks eroding the low-friction entry point that built the brand and thereby hitting customer acquisition and future demand.
Warby Parker is ending its home try-on program by year end and directing customers toward its growing store fleet and virtual tools, since most recent users already live near a location. At the same time the company prepares to launch Intelligent Eyewear with Google and Samsung while eye exams expand rapidly. Our models see the stock as overvalued. Will the shift to a tighter omnichannel approach strengthen repeat visits and margins more than it reduces the low-friction entry point that built the brand?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Instruments & Supplies · 196 stocks
Beats the industry median on 2/12 measures
Overall it trails its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside−79.5% · Bottom 25%
Profitability
Return on equity (12 months)1.9% · Below median
Return on assets0.2% · Below median
Net margin (12 months)0.8% · Below median
Operating margin (12 months)1.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)10.4% · Above median
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
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Is Warby Parker Inc (WRBY) overvalued or undervalued?
As of Nov 11, 2026, our model estimates a fair value of $5.47 versus a price of $26.73, about 80% lower (overvalued).
What is the fair value of WRBY?
Our model-based fair value for Warby Parker Inc is $5.47 (as of Nov 11, 2026), built from audited fundamentals. The current price: $26.73.
What is the quality score of WRBY?
Warby Parker Inc has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Warby Parker Inc (WRBY)?
Our model-based price target is the fair value of $5.47 (as of Nov 11, 2026) from 21 valuation models. Cautious scenario $4.17, optimistic scenario $6.72. It is a calculation from audited fundamentals, not an analyst target.
What is the Warby Parker Inc stock forecast for 2026?
Our models put fair value at $5.47, about 80% lower versus a price of $26.73 (overvalued). Cautious scenario $4.17, optimistic scenario $6.72. The calculation is refreshed regularly with new filings.
What is the revenue of Warby Parker Inc (WRBY)?
Warby Parker Inc reported trailing-twelve-month revenue of about $935M (latest available figure, as of Nov 11, 2026).
What growth is priced into Warby Parker Inc (WRBY)?
For today's price to be fair in a discounted-cash-flow model, Warby Parker Inc would have to grow free cash flow by +40.8 % per year for five years (discount rate 12.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +17.2 % per year. As of Nov 11, 2026.
What discount rate (WACC) does the fair value of WRBY use?
Our models discount Warby Parker Inc at 12.1 %: a base by market capitalisation (mid), damped by beta 1.95, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Warby Parker Inc that is +40.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.1 %) and the same formula as our fair value.
How much growth has Warby Parker Inc (WRBY) delivered so far?
Over the past 5 years revenue at Warby Parker Inc grew +17.2 % a year. The price currently implies free-cash-flow growth of +40.8 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Warby Parker Inc (WRBY) growing?
The median revenue growth in the sector is +4.4 % a year. That is the yardstick for the growth priced into Warby Parker Inc (+40.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Warby Parker Inc (WRBY)?
The free-cash-flow yield on the price is 1.30 %: that much free cash flow Warby Parker Inc produces per unit of market value. When it exceeds the discount rate of our models (12.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Warby Parker Inc (WRBY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Warby Parker Inc it is $5.47 per share (as of Nov 11, 2026), against a price of $26.73. It is the blended result of 21 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Warby Parker Inc stock overvalued or undervalued in 2026?
As of Nov 11, 2026, WRBY trades above its calculated fair value: price $26.73, fair value $5.47, a gap of about −80% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WRBY?
No. The price is what the market pays today ($26.73); the fair value is what the company's own numbers justify ($5.47). For Warby Parker Inc the two are $21.26 per share apart. That gap is exactly why we show both numbers side by side.
How much is Warby Parker Inc worth?
The market values Warby Parker Inc at about $3.4B (market capitalisation, as of Nov 11, 2026). Per share that is $26.73; our models calculate a fair value of $5.47 per share.
What do the bullish and bearish scenarios say about WRBY?
Our models span a range for Warby Parker Inc: cautious scenario $4.17, base $5.47, optimistic $6.72 per share (as of Nov 11, 2026, price $26.73). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WRBY?
Warby Parker Inc trades at a price-to-earnings ratio of 424.7 (as of Nov 11, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $5.47 is built from several models across several years. Other multiples: P/B 9.1, P/S 3.6, EV/EBITDA 65.1.
How solid is the balance sheet of Warby Parker Inc (WRBY)?
Balance-sheet figures for Warby Parker Inc (as of Nov 11, 2026): return on equity 1.9%. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is WRBY from its 52-week high?
Warby Parker Inc trades at $26.73, about 12% below its 52-week high of $30.34 and 62% above the low of $16.49 (as of Nov 12, 2026). Distance from the high says nothing about value: that is what the fair value of $5.47 is for.
Which stocks are comparable to Warby Parker Inc?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Becton, Dickinson and Company, Medline Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Warby Parker Inc stock attractive at the current price?
The data as of Nov 11, 2026: price $26.73, calculated fair value $5.47 (−80%), Quality Score 62/100, from 21 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WRBY calculated?
We run Warby Parker Inc through 21 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $5.47 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.3% above its aggregate fair value. Warby Parker Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Warby Parker Inc (WRBY)?
The closing price on Nov 12, 2026 was $26.73. Our model-based fair value is $5.47, about 80% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Warby Parker Inc right now?
The price sits above even our optimistic bull case ($6.72). The favourable scenario is already priced in. Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Warby Parker Inc
How large is the market capitalisation of Warby Parker Inc (WRBY)?
The market capitalisation of Warby Parker Inc is $3.4B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Warby Parker Inc (WRBY)?
The price-to-sales ratio of Warby Parker Inc is 3.60 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Warby Parker Inc (WRBY)?
Earnings per share at Warby Parker Inc are $0.0600 (price ÷ EPS = P/E 424.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Warby Parker Inc (WRBY)?
The net margin of Warby Parker Inc is 0.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Warby Parker Inc (WRBY)?
The return on equity (ROE) of Warby Parker Inc is 1.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Warby Parker Inc (WRBY)?
On an EBIT basis the return on assets of Warby Parker Inc is −14.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Warby Parker Inc (WRBY)?
The operating margin of Warby Parker Inc is 1.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Warby Parker Inc (WRBY)?
Revenue at Warby Parker Inc is growing +10.4% versus a year earlier (3y avg +13.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Warby Parker Inc (WRBY)?
Earnings per share at Warby Parker Inc are growing −16.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Warby Parker Inc (WRBY) hold?
Warby Parker Inc holds more cash than debt, $53.2M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 11, 2026