Chewy, Inc.CHWY
NYSE•Consumer Cyclical•Internet Retail
Chewy, Inc., together with its subsidiaries, engages in the e-commerce business in the United States. It offers pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services. The company serves its customer through its retail websites and mobile applications, including Autoship subscription program. Chewy, Inc. was founded in 2010 and is based in Plantation, Florida.
Chewy, Inc. (CHWY) reported trailing twelve months revenue of $12.60B as of February 2026, a 6.2% increase year-over-year. Quarterly revenue reached $3.26B, reflecting continued top-line momentum.
Chewy, Inc. generated $222.80M in TTM net income, with quarterly EBITDA of $76.90M. The operating margin expanded from -0.3% to 1.3%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (1.3%) and net margin (1.2%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 0.7% a year ago, signaling stronger bottom-line efficiency.
CHWY trades at a P/E of 54.1x (a premium multiple) and a P/S of 1.0x. The price-to-book ratio of 24.2x indicates a significant premium over book value.
The company generated $232.00M in free cash flow over the trailing twelve months, a 48.1% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $3.37B in total assets with no in long-term debt against $497.90M in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 1.5%. The business may lack pricing power or face rising costs.'
ROE averages 81.2% but has fluctuated — the competitive advantage may be cyclical or emerging.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~12.1% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF covers net income by 7.2x on average — earnings are well-supported by cash generation.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 4.7% — net buybacks are reducing shares outstanding and boosting per-share value.