Williams-Sonoma, Inc.
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+ FollowMarket Cap$29.77B
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Earnings Call Q2 2026
August 26, 2026 - AI Summary
Strong Q2 performance; broad-based growth and market-share gains
- Comp store growth: +6.2% (accelerated from +4.8% in Q1).
- Total revenue growth: +6.7% YoY; net revenues: $1.96B.
- All brands positive comps: Pottery Barn +5.1%, Williams Sonoma +7.6%, West Elm +6.4%; children’s +3.5%; emerging brands double-digit.
- Channels: E-commerce comp +6.5%, retail comp +5.5%.
- Industry context (surprising/important): Home furnishings industry was essentially flat, so their growth is framed as primarily share gain—not category demand tailwind—while also increasing penetration of full-price selling (i.e., less discounting).
Profitability held up despite tariff “peak”; operating margin beat and EPS growth
- Operating margin: 17.3% in Q2.
- Operating income: $338M (+3% YoY).
- EPS: $2.10 (+5% YoY), with management emphasizing they grew earnings through the peak tariff quarter.
- Gross margin headwind: 45.5%, down about 160 bps YoY, driven by tariff impacts on weighted-average COGS.
- Offset factors (good): They cite about 70 bps of positive offsets (≈ 30 bps supply chain efficiencies; ≈ 40 bps occupancy leverage), leaving gross margin “in line” with expectations.
Updated annual guidance (raised on both growth and margin); still assumes no housing recovery
- Comparable brand revenue growth: 4.0% to 6.5% (raised range).
- Total net revenue growth: 4.7% to 7.2%.
- Operating margin: 17.8% to 18.2% (raised range).
- Key assumption/risk framing: guidance assumes no material macro changes (housing turnover and interest rates not improving); management says they are not baking in a housing recovery.
- Back-half gross margin expectations: tariff pressure should moderate as they comp prior-year tariff payments; however, there are other negatives (see below).
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$90.61
66.4% downside
Current Fair Value
66.4% downsideOvervalued by 66.4% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $29.77 Billion |
|---|---|
| Enterprise Value | $30.95 Billion |
| Annual dividend | $2.94 |
| Dividend yield | 1.16% |
| Earnings per Share | $8.96 |
| Beta | 1.47 |
| Outstanding Shares | 117,765,000 |
Return
| Return on Equity | 55.07% |
|---|---|
| Return on Assets | 21.41% |
| Return on Invested Capital | 43.23% |
Valuation & Multiples
| P/E Ratio | 25.53 |
|---|---|
| PEG | 69.79 |
| Price to Sales | 4.03 |
| Price to Book Ratio | 15.0 |
| Enterprise Value to Revenue | 3.87 |
| Enterprise Value to EBIT | 19.84 |
| Enterprise Value to Net Income | 26 |
| Total Debt to Enterprise | 0.07 |
| Debt to Equity | 1.03 |
Revenue Sources
No data
Last Earnings Call
Report Date
August 26, 2026
EPS Estimate
$2.08
Consensus analyst estimateRevenue Estimate
$1.93 B
Consensus analyst estimateNext Earnings Call
Expected Date
November 18, 2026
EPS Estimate
$2.18
Consensus analyst estimateRevenue Estimate
$2.00 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 73.39% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 5.19%▼ 91.63% |
|---|---|
| Total Invested | $1.39B▼ 94.76% |
| Investors Holding | 381▼ 660.00% |
About Williams-Sonoma, Inc.
28,200 employees
CEO: Laura Alber
Williams-Sonoma, Inc. is an American publicly traded consumer retail company that sells kitchen-wares and home furnishings. It is headquartered in San Francisco, California, United States. The company has 625 brick and mortar stores and ...