CHWYNYSERetail-Catalog & Mail-Order HousesFiscal year ends February 1
Chewy, Inc.
Financials through Q2 FY2026, quarter ended Aug 2, 2026Last filing: 10-Q on Sep 9, 2026
$20.53−0.44 (-2.10%)
Close on Oct 19, 2026
- Market cap
- $8.42B
- P/E (TTM)
- 31.1
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2016 to 2025
Gross margin
29.8%+4.3 pts over 5 years
Operating margin
2.0%+3.3 pts over 5 years
Net margin
1.8%+3.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +6.2% | +7.6% | +12.0% | – | |
| Gross profit | +8.3% | +9.8% | +15.6% | – | |
| Operating income | +125.8% | +65.2% | – | – | |
| Net income | -43.3% | +64.7% | – | – | |
| EPS, diluted | -42.9% | +63.0% | – | – | |
| Free cash flow | +24.3% | +67.6% | +208.5% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 40.3% | 58.7% | |
| Return on assets | – | -6.9% | 7.0% | |
| Current ratio | – | 0.89 | 0.88 | |
| Interest coverage | – | -41.7× | 55.3× | |
| Inventory turnover | – | 12.8× | 10.4× | |
| Capex to revenue | – | 1.8% | 1.0% | |
| Diluted shares | – | 407M | 426M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Chewy generated $2.32B from operations and spent $2.04B on capital expenditure, dividends and share buybacks. 41% of that went back into the business.
Generated
$2.32B
Used
$2.04B
Capital expenditure$829.80M41%Dividends$00%Share buybacks$1.21B59%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin1.8%
×Asset turnover3.95×
×Equity multiplier8.40×
=Return on equity, FY202558.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 1.8% | 3.95× | 8.40× | 58.7% |
| FY2024 | 3.3% | 3.83× | 8.03× | 101.8% |
| FY2023 | 0.4% | 3.91× | 8.51× | 11.8% |
| FY2022 | 0.5% | 4.39× | 38.17× | 82.7% |
| FY2021 | -0.8% | 4.69× | -40.46× | 159.0% |
| FY2020 | -1.3% | 5.35× | -5.82× | 40.3% |
| FY2019 | -5.2% | 6.58× | -1.99× | 68.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$222.80M
- Cash generatingOperating cash flow above zero$691.60M
- Return on assets improvedROA up on the prior year12.3% → 7.4%
- Earnings backed by cashOperating cash flow above net income$691.60M vs $222.80M
- Less leverageLong-term debt to assets fell– → 0.0%
- Better liquidityCurrent ratio rose0.75 → 0.88
- No dilutionShare count did not rise431M → 426M
- Gross margin improvedGross margin up on the prior year29.24% → 29.79%
- More efficientAsset turnover rose3.72 → 4.18