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WSMHome furnishings retail

Williams-Sonoma

Not investment advice. Kevin may own this stock. How we value stocks

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Updated

Price
$262.09
Analysts view
Leaning bullish
Discount category
Far above intrinsic value
Pick status
Research only
Next earnings
Earnings Nov 18 · · estimated
History
Market cap
$31B
Shares of Aug 23, 2026
Yield at current rate
1.2%
Current annual rate, at the price of Nov 12, 2026
Dividend yield
1.1%
Last 12 months, at the price of Nov 12, 2026
P/E (trailing)
26.9
Price of Nov 12, 2026
EPS (trailing)
$9.75
12 months to Aug 2, 2026
52-week range
$165.51 – $274.45
To Nov 12, 2026
Beta
1.48
Vs S&P 500, 5 years monthly, to Oct 30, 2026
Average volume
1.1M
3 months, to Nov 12, 2026

Check the numbers:ExchangeGoogle FinanceYahoo FinanceSEC filings

In short

Thesis
Investors pay a premium for the high margins of Williams-Sonoma, and only comparable sales that keep growing with margins in the high teens while tariffs stay in place can earn this price.
Gap
Can close. The Q3 report in November 2026 and the Q4 report in March 2027 show whether margins hold without tariff refunds.

Company guidance: FY2026 net revenue +4.7% to +7.2%; comps +4.0% to +6.5%; non-GAAP operating margin 17.8% to 18.2% (, Q2 fiscal 2026 results release (8-K))

Price history

About

Williams-Sonoma, Inc. (Williams-Sonoma) is a retailer of home goods based in San Francisco, California. It sells furniture, cookware, decor and related goods through e-commerce websites, retail stores and business-to-business sales. Its brands include Pottery Barn, West Elm, Williams Sonoma, Pottery Barn Kids, Rejuvenation, Mark and Graham, GreenRow and Dormify. It operated 508 stores at August 2, 2026, in the United States, Puerto Rico, Canada, Australia and the United Kingdom, and it has franchise partners in other countries.

In the year that ended February 1, 2026 (fiscal 2025), net revenues were $7,806.8 million and net income was $1,088.4 million. Laura Alber is President and Chief Executive Officer. The company files 10-K and 10-Q reports with the SEC, and its common stock trades on the New York Stock Exchange in US dollars.

Thesis

The price of Williams-Sonoma depends on whether it can keep its operating margin in the high teens while tariffs stay in place and the housing market is weak. In Q2 of fiscal 2026, comparable brand revenue rose 6.2% and total revenue rose 6.7% to $1,959.8 million. The non-GAAP operating margin was 17.3%, which is 60 basis points less than a year before, because tariffs cut the merchandise margin. The GAAP margin of 22.9% is much higher, because the company booked refunds of earlier IEEPA tariffs.

The company counts those refunds out of the non-GAAP results and out of its guidance. It raised its guidance for fiscal 2026 to revenue growth of 4.7% to 7.2% and a non-GAAP operating margin of 17.8% to 18.2%, and it assumes that all tariffs now in place stay, including new Section 301 tariffs announced on July 23. For the price to hold or rise, three things must be true. Comparable sales must keep growing in all brands.

The company must pay for the tariff costs with supply chain efficiencies, occupancy leverage and a lower rate of staff cost, as it did in Q2. Demand for large home purchases must not fall further. The next tests are the Q3 report, expected in November 2026, and the Q4 report with the outlook for fiscal 2027, expected in March 2027.

Checkpoints

  1. Nov 18, 2026 · est.Pending
    Q3 fiscal 2026 results: margin without refundsComparable brand revenue keeps growing and the non-GAAP operating margin stays in the range of 17.8% to 18.2% that the company guides for the year, and this passes; a falling margin fails.
  2. Mar 2027 · est.Pending
    Q4 fiscal 2026 results and outlook for fiscal 2027Revenue for fiscal 2026 lands in the guided range and the first outlook for fiscal 2027 keeps a margin in the mid-to-high teens, and this passes; a lower margin outlook fails.

Every passed and failed checkpoint across all picks

Recent events

  • October 16, 2026Williams-Sonoma appointed Lynn Martin as a director, effective October 19, 2026.
  • August 28, 2026In its Form 10-Q, Williams-Sonoma said that it bought back no shares in Q2. In the first half, it bought back 1,608,253 shares for $287.8 million. About $1.1 billion remains under its buyback authorizations.
  • August 26, 2026Williams-Sonoma reported Q2 fiscal 2026 results. Revenue rose 6.7% to $1,959.8 million, GAAP diluted EPS was $2.84 and non-GAAP diluted EPS was $2.10. Operating cash flow for the half-year was $696 million, and cash was $1.0 billion.
Show 3 older events
  • August 26, 2026Williams-Sonoma booked income from refunds of IEEPA tariffs in Q2: a $167.8 million cut in cost of goods sold and $6.3 million of interest. It also booked $47.5 million for payments to vendors and $10.0 million for a one-time employee payment. It had collected almost all of its first refund claim of $197.8 million.
  • August 26, 2026Williams-Sonoma raised its guidance for fiscal 2026 to revenue growth of 4.7% to 7.2% and a non-GAAP operating margin of 17.8% to 18.2%.
  • May 21, 2026Williams-Sonoma reported Q1 fiscal 2026 results. Revenue was $1,805.5 million and diluted EPS was $1.93.

Latest news and filings

Last earnings
August 26, 2026 (8-K on sec.gov)
Next earnings
Expected about November 18, 2026. The company has not confirmed the date.

Every filing on SEC EDGAR (CIK 719955)

Risks

  • Tariffs can cut the margin. The guidance assumes that all tariffs now in place stay for fiscal 2026, including Section 232 and Section 301 tariffs, and the merchandise margin fell 230 basis points in Q2 because of tariff costs. The refunds of Q2 will not come again.
  • Demand for home goods can fall. The company says that its results came despite the housing market and other macroeconomic events. A longer weak housing market would hurt sales of big items.
  • Costs of transport and oil can rise. The guidance assumes that oil prices stay elevated for the rest of the year.
  • The margin must hold after the refunds. The GAAP operating margin of Q2 was 22.9%, but the non-GAAP margin was 17.3%. A reader who looks at the GAAP result will overstate the earning power.
  • Rules for the tariffs can change. Some tariffs the company paid were refunded, and new tariffs followed. A change in either direction can move cost and the amount of vendor payments.

Balance sheet

At August 2, 2026, Williams-Sonoma had cash and cash equivalents of $1,028.9 million, against $1,019.8 million at February 1, 2026. It had no borrowings under its credit facility of $600 million, and $13.6 million of letters of credit were outstanding under it.

Dividends

Yield at the current rate
1.2% (current annual rate, at today’s price)
Dividend yield
1.1% (last 12 months, at today’s price of $262.09)
Paid per share
$2.94 in the last 12 months (4 payments)
Current annual rate
$3.04 ($0.76 × 4 a year)
Payout ratio
30% of the last fiscal year’s earnings (the year that ended February 1, 2026)
Latest ex-dividend date
October 16, 2026, $0.76 per share

Dividends per share by year

Williams-Sonoma dividends per share by year
2016
$0.73
2017
$0.77
2018
$0.84
2019
$0.935
2020
$0.985
2021
$1.21
2022
$1.525
2023
$1.74
2024
$2.155
2025
$2.55

From 2020 to 2025, the dividend grew by about 21.0% a year. From 2015 to 2025, the dividend grew by about 14.0% a year.

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.

Questions about Williams-Sonoma

What does Williams-Sonoma do?

Williams-Sonoma, Inc. (Williams-Sonoma) is a retailer of home goods based in San Francisco, California. It sells furniture, cookware, decor and related goods through e-commerce websites, retail stores and business-to-business sales. Its market cap is $31B at the current price of $262.09.

When does Williams-Sonoma report earnings next?

This is an estimate: Williams-Sonoma may report on November 18, 2026. It last reported results on August 26, 2026.

Is Williams-Sonoma stock below its intrinsic value?

Williams-Sonoma stock is far above intrinsic value. This is general information, not advice.

What changed recently at Williams-Sonoma?

The latest update is from October 16, 2026. Williams-Sonoma appointed Lynn Martin as a director, effective October 19, 2026.

What are the main risks for Williams-Sonoma?

Tariffs can cut the margin. Demand for home goods can fall. Costs of transport and oil can rise.

How much debt and cash does Williams-Sonoma have?

At August 2, 2026, Williams-Sonoma had cash and cash equivalents of $1,028.9 million, against $1,019.8 million at February 1, 2026. This is as of August 2, 2026.

Does Williams-Sonoma pay a dividend?

Yes. The current annual dividend of Williams-Sonoma is $3.04 per share. That is a dividend yield of 1.2% at the current price of $262.09. In the last 12 months, it paid $2.94 per share (1.1%). The latest ex-dividend date was October 16, 2026.

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