Warby Parker Inc. — Earnings Quality Grade C
WRBY · Healthcare
Some red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 1 days, change +0 days YoY
AR growth 68.6% exceeds revenue growth 13.0%
Revenue 13.0%, CFFO 12.2%. Cash follows revenue
Expense Quality
Inventory -15.0% vs COGS 16.5%. Normal
CapEx growth 4.7% vs revenue 13.0%. Normal
SG&A/Gross Profit = 101.1%, exceeds 70%
Gross margin 54.0%, change -1.4pp. Stable
Cash Flow Quality
CFFO far exceeds NI (ratio 67.5x). Non-cash charges depressing profits
FCF $0.0B, FCF/NI = 26.65
Accruals ratio = -15.1%. Low accruals
Cash $0.3B covers debt $0.2B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 5.2x (>4x). Financial stress
Other assets 17.6% vs revenue 13.0%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
No goodwill
Manipulation Score
M-Score = -2.58 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25