Carter's vs Warby Parker
Carter's reported revenue of $2.9 billion in fiscal 2025, 3.3 times Warby Parker's $872 million in fiscal 2025. Carter's revenue grew 1.9% in its latest year, and Warby Parker's grew 13.0%. Carter's had an operating margin of 5.0%, against -0.6% at Warby Parker. Free cash flow was $69 million at Carter's and $44 million at Warby Parker. Their fiscal years end in different months (January 3 and December 31), so the periods don't line up exactly.
Side by side
| Carter's | Warby Parker | |
|---|---|---|
| Latest fiscal year | FY2025, Jan 3, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $2.9B | $872M |
| Revenue growth | 1.9% | 13.0% |
| Revenue growth a year, last 5 years | −0.8% | 17.2% |
| Gross margin | 45.4% | 54.0% |
| Operating margin | 5.0% | −0.6% |
| Net margin | 3.2% | 0.2% |
| Free cash flow | $69M | $44M |
| Free cash flow margin | 2.4% | 5.0% |
| Return on capital | 11.9% | −3.4% |
| Net debt to EBITDA | 0.4x | −6.4x |
| Dividends and buybacks | $56M | $0M |
| Change in diluted share count | −0.3% | 3.9% |
| Last close | $31.81 | $25.28 |
| P/E at the last close | 5.9× | — |
| Insider trades, last 12 months | — | sold $47.1 million |
| Piotroski F-score | 5 of 9 | 4 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Carter'sWarby Parker
Operating margin
Percent of revenue
Carter'sWarby Parker
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Carter'sWarby Parker
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Carter's and Warby Parker pages.