Warby Parker Inc.'s (NYSE:WRBY) price-to-sales (or "P/S") ratio of 2.2x may not look like an appealing investment opportunity when you consider close to half the companies in the Specialty Retail industry in the United States have P/S ratios below 0.4x. Although, it's not wise to just take the P/S at face value as there may be an explanation why it's as high as it is.
NYSE:WRBY Price to Sales Ratio vs Industry April 17th 2024
How Has Warby Parker Performed Recently?
Recent times have been advantageous for Warby Parker as its revenues have been rising faster than most other companies. It seems that many are expecting the strong revenue performance to persist, which has raised the P/S. However, if this isn't the case, investors might get caught out paying too much for the stock.
If you'd like to see what analysts are forecasting going forward, you should check out our free report on Warby Parker.
Is There Enough Revenue Growth Forecasted For Warby Parker?
There's an inherent assumption that a company should outperform the industry for P/S ratios like Warby Parker's to be considered reasonable.
Taking a look back first, we see that the company managed to grow revenues by a handy 12% last year. The latest three year period has also seen an excellent 70% overall rise in revenue, aided somewhat by its short-term performance. So we can start by confirming that the company has done a great job of growing revenues over that time.
Looking ahead now, revenue is anticipated to climb by 13% each year during the coming three years according to the analysts following the company. With the industry only predicted to deliver 5.6% per annum, the company is positioned for a stronger revenue result.
In light of this, it's understandable that Warby Parker's P/S sits above the majority of other companies. Apparently shareholders aren't keen to offload something that is potentially eyeing a more prosperous future.
What We Can Learn From Warby Parker's P/S?
It's argued the price-to-sales ratio is an inferior measure of value within certain industries, but it can be a powerful business sentiment indicator.
As we suspected, our examination of Warby Parker's analyst forecasts revealed that its superior revenue outlook is contributing to its high P/S. Right now shareholders are comfortable with the P/S as they are quite confident future revenues aren't under threat. Unless the analysts have really missed the mark, these strong revenue forecasts should keep the share price buoyant.
We don't want to rain on the parade too much, but we did also find 1 warning sign for Warby Parker that you need to be mindful of.
It's important to make sure you look for a great company, not just the first idea you come across. So if growing profitability aligns with your idea of a great company, take a peek at this free list of interesting companies with strong recent earnings growth (and a low P/E).
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Warby Parker Inc.(紐約證券交易所代碼:WRBY)的市銷率(或稱 "P/S")爲2.2倍,如果考慮到美國專業零售行業近一半公司的市銷率低於0.4倍,這看起來可能並不是一個吸引人的投資機會。但是,僅按面值計算市銷率是不明智的,因爲可以解釋其爲何如此之高。
紐約證券交易所:WRBY 與行業的股價銷售比率 2024 年 4 月 17 日
Warby Parker 最近表現如何?
最近對Warby Parker來說是有利的,因爲其收入的增長速度快於大多數其他公司。看來許多人預計強勁的收入表現將持續下去,這提高了市銷率。但是,如果不是這樣,投資者可能會陷入爲股票支付過多費用的困境。
如果你想了解分析師對未來的預測,你應該查看我們關於沃比·帕克的免費報告。
預計Warby Parker的收入增長是否足夠?
人們固有的假設是,如果像沃比·帕克這樣的市銷率,公司的表現應該優於該行業,才算合理。
首先回顧一下,我們發現該公司去年的收入成功增長了12%。在最近三年中,總收入也實現了70%的出色增長,這在一定程度上得益於其短期表現。因此,我們可以首先確認該公司在此期間在增加收入方面做得很好。
展望未來,該公司的分析師表示,預計未來三年收入將每年增長13%。由於該行業的年增長率預計僅爲5.6%,因此該公司有望實現更強勁的收入業績。
有鑑於此,沃比·帕克的市銷率高於其他多數公司是可以理解的。顯然,股東們並不熱衷於轉移可能着眼於更繁榮未來的東西。
我們可以從Warby Parker的市銷率中學到什麼?
有人認爲,在某些行業中,市銷率是衡量價值的較差指標,但它可以是一個有力的商業信心指標。
正如我們所懷疑的那樣,我們對Warby Parker分析師預測的審查顯示,其優異的收入前景是其高市銷率的原因。目前,股東們對市盈率感到滿意,因爲他們非常有信心未來的收入不會受到威脅。除非分析師真的沒有達到目標,否則這些強勁的收入預測應該會保持股價的上漲。
我們不想在遊行隊伍中下太多雨,但我們也爲沃比·帕克找到了一個你需要注意的警告標誌。
重要的是要確保你尋找一家優秀的公司,而不僅僅是你遇到的第一個想法。因此,如果盈利能力的增長與你對一家優秀公司的想法一致,那就來看看這份免費名單吧,列出了最近收益增長強勁(市盈率低)的有趣公司。
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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。