Professional
Added to YB: 2021-04-15
Pitch date: 2021-04-15
W [bullish]
Wayfair Inc.
-69.01%
current return
Author Info
1 Main Capital is a long-biased investment partnership that invests primarily in high-quality, attractively valued, growing businesses. Visit their fund website.
Company Info
Wayfair Inc. engages in the e-commerce business in the United States and internationally. It offers online selections of furniture, décor, housewares, and home improvement products through its sites comprising Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.
Market Cap
$13.3B
Pitch Price
$313.99
Price Target
N/A
Dividend
N/A
EV/EBITDA
68.30
P/E
-39.77
EV/Sales
1.30
Sector
Specialty Retail
Category
growth
1 Main Holdings top position: Wayfair Inc (W)
W: E-commerce leader in $840B home goods market (just 2% share). Online penetration only 20%, far below other categories. Expects to 8x revs to $100B by 2030 w/ 10%+ EBITDA margins. Impressive capital efficiency: 15x rev growth since 2013 w/ just 2.5x share dilution. Working capital benefit & no inventory/supplier risk. Trades at 30x FCF (excl SBC) on near-term COVID uncertainty, but lead director bought $13M. Long-term outlook strong.
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