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Chewy Inc Financials

CHWY
Source SEC Filings (10-K/10-Q) Updated Feb 1, 2026 Currency USD FYE February

This page shows Chewy Inc (CHWY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CHWY FY2026

Chewy’s cash-generating retail model is showing widening margins that turn moderate sales growth into stronger cash output.

Between FY2025 and FY2026, operating income more than doubled to $254.3M while net income fell to $222.8M; that apparent contradiction comes from FY2025 carrying a $241M tax benefit, so the core business improved even though reported profit looked weaker.

From FY2024 to FY2026, gross margin moved from 28.4% to 29.8%, while SG&A did not rise as fast as gross profit. That let operating leverage show through: FY2026 operating cash flow reached $691.6M against net income of $222.8M, a pattern more consistent with fixed-cost absorption and expense discipline than with an accounting-only lift.

Capital intensity remains light: capex was only $129.2M in FY2026, leaving free cash flow at $562.4M and suggesting the business can scale without heavy asset build-out. Liquidity is tighter than the cash balance alone suggests, because current assets still trailed current liabilities by $266.4M even with $860.1M of cash, so day-to-day funding still leans on working-capital timing.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 36 / 100
Financial Profile 36/100

Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Chewy Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
25

Chewy Inc has an operating margin of 2.0%, meaning the company retains $2 of operating profit per $100 of revenue. This below-average margin results in a low score of 25/100, suggesting thin profitability after operating expenses. This is up from 0.9% the prior year.

Growth
44

Chewy Inc's revenue grew 6.2% year-over-year to $12.6B, a solid pace of expansion. This earns a growth score of 44/100.

Leverage
0

Chewy Inc has elevated debt relative to equity (D/E of 5.76), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity
12

Chewy Inc's current ratio of 0.88 is below the typical benchmark, resulting in a score of 12/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow
35

Chewy Inc has a free cash flow margin of 4.5%, earning a moderate score of 35/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
100

Chewy Inc earns a strong 44.8% return on equity (ROE), meaning it generates $45 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 104.6% the prior year.

Altman Z-Score Safe
5.07

Chewy Inc scores 5.07, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
5/9

Chewy Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed
3.10x

For every $1 of reported earnings, Chewy Inc generates $3.10 in operating cash flow ($691.6M OCF vs $222.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe
55.3x

Chewy Inc earns $55.3 in operating income for every $1 of interest expense ($254.3M vs $4.6M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$12.6B
YoY+6.2%
5Y CAGR+12.0%

Chewy Inc generated $12.6B in revenue in fiscal year 2026. This represents an increase of 6.2% from the prior year.

EBITDA
$383.6M
YoY+68.8%

Chewy Inc's EBITDA was $383.6M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 68.8% from the prior year.

Net Income
$222.8M
YoY-43.3%

Chewy Inc reported $222.8M in net income in fiscal year 2026. This represents a decrease of 43.3% from the prior year.

EPS (Diluted)
$0.52
YoY-42.9%

Chewy Inc earned $0.52 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 42.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$562.4M
YoY+24.3%
5Y CAGR+208.5%

Chewy Inc generated $562.4M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 24.3% from the prior year.

Cash & Debt
$860.1M
YoY+39.5%
5Y CAGR+6.2%

Chewy Inc held $860.1M in cash against $0 in long-term debt as of fiscal year 2026.

Dividends Per Share
N/A
Shares Outstanding
N/A

Margins & Returns

Gross Margin
29.8%
YoY+0.6pp
5Y CAGR+4.3pp

Chewy Inc's gross margin was 29.8% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 0.6 percentage points from the prior year.

Operating Margin
2.0%
YoY+1.1pp
5Y CAGR+3.3pp

Chewy Inc's operating margin was 2.0% in fiscal year 2026, reflecting core business profitability. This is up 1.1 percentage points from the prior year.

Net Margin
1.8%
YoY-1.5pp
5Y CAGR+3.1pp

Chewy Inc's net profit margin was 1.8% in fiscal year 2026, showing the share of revenue converted to profit. This is down 1.5 percentage points from the prior year.

Return on Equity
44.8%
YoY-59.8pp
5Y CAGR+178.7pp

Chewy Inc's ROE was 44.8% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 59.8 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$262.5M
YoY-72.2%

Chewy Inc spent $262.5M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 72.2% from the prior year.

Capital Expenditures
$129.2M
YoY-10.2%
5Y CAGR-0.2%

Chewy Inc invested $129.2M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 10.2% from the prior year.

CHWY Income Statement

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Revenue N/A $3.1B+0.4% $3.1B-0.4% $3.1B+3.6% $3.0B+4.6% $2.9B+0.7% $2.9B-0.7% $2.9B
Cost of Revenue N/A $2.2B+1.2% $2.2B-1.4% $2.2B+1.8% $2.2B+5.9% $2.0B+0.9% $2.0B-0.4% $2.0B
Gross Profit N/A $928.2M-1.5% $942.2M+2.0% $923.8M+7.9% $856.2M+1.5% $843.9M0.0% $843.8M-1.2% $854.0M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses N/A $665.1M-1.0% $671.9M+2.9% $653.1M+0.4% $650.2M+3.8% $626.5M+0.9% $621.2M+3.1% $602.6M
Operating Income N/A $65.2M-6.5% $69.7M-9.4% $76.9M+449.5% -$22.0M-185.9% $25.6M-20.2% $32.1M-50.3% $64.6M
Interest Expense N/A $1.4M0.0% $1.4M+7.7% $1.3M-4.3% $1.4M+0.4% $1.4M-10.3% $1.5M+13.0% $1.3M
Income Tax N/A $10.1M-15.8% $12.0M-22.6% $15.5M+152.5% -$29.5M-215.2% $25.6M+110.1% -$252.6M-2296.5% $11.5M
Net Income N/A $59.2M-4.5% $62.0M-0.6% $62.4M+128.6% $27.3M+600.0% $3.9M-98.7% $299.1M+347.1% $66.9M
EPS (Diluted) N/A $0.140.0% $0.14-6.7% $0.15 N/A $0.01-98.5% $0.68+353.3% $0.15

CHWY Balance Sheet

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Total Assets $3.4B+2.2% $3.3B+5.6% $3.1B+1.9% $3.1B+1.5% $3.0B+1.9% $3.0B-4.7% $3.1B-3.1% $3.2B
Current Assets $2.0B+5.6% $1.9B+8.2% $1.8B+4.1% $1.7B+3.0% $1.7B+2.9% $1.6B-7.8% $1.8B-17.5% $2.1B
Cash & Equivalents $860.1M+27.3% $675.4M+14.1% $591.8M-4.0% $616.4M+3.5% $595.8M+17.6% $506.6M-27.0% $694.5M-38.8% $1.1B
Inventory $864.8M-8.4% $943.9M+7.9% $874.6M+8.4% $806.9M-3.6% $836.7M-2.5% $858.6M+6.9% $803.3M+6.8% $752.3M
Accounts Receivable $222.2M+2.9% $216.0M-2.4% $221.2M+10.6% $200.0M+18.3% $169.0M-12.5% $193.2M-3.9% $201.0M+16.7% $172.2M
Goodwill $39.4M0.0% $39.4M0.0% $39.4M0.0% $39.4M0.0% $39.4M-0.1% $39.4M0.0% $39.4M0.0% $39.4M
Total Liabilities $2.9B+1.5% $2.8B+3.5% $2.7B+1.6% $2.7B-2.5% $2.8B+0.7% $2.7B+4.5% $2.6B+2.3% $2.6B
Current Liabilities $2.3B+1.8% $2.3B+3.0% $2.2B+2.5% $2.1B-3.0% $2.2B+1.3% $2.2B+6.0% $2.1B+3.0% $2.0B
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $497.9M+6.1% $469.4M+20.4% $389.9M+3.8% $375.6M+43.6% $261.5M+17.1% $223.4M-54.1% $486.8M-24.3% $643.0M
Retained Earnings -$1.4B+2.8% -$1.4B+4.1% -$1.5B+4.1% -$1.5B+3.9% -$1.6B+1.4% -$1.6B+0.2% -$1.6B+15.7% -$1.9B

CHWY Cash Flow Statement

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Operating Cash Flow $263.4M+26.7% $207.9M+55.3% $133.9M+55.0% $86.4M-58.4% $207.5M+13.1% $183.5M+48.7% $123.4M+50.7% $81.9M
Capital Expenditures $31.4M-2.2% $32.1M+14.6% $28.0M-25.7% $37.7M-25.9% $50.9M+60.6% $31.7M-0.6% $31.9M+8.9% $29.3M
Free Cash Flow $232.0M+32.0% $175.8M+66.0% $105.9M+117.5% $48.7M-68.9% $156.6M+3.2% $151.8M+65.9% $91.5M+74.0% $52.6M
Investing Cash Flow -$23.9M+58.1% -$57.0M-91.9% -$29.7M+27.9% -$41.2M+19.1% -$50.9M-60.6% -$31.7M-11.2% -$28.5M-105.6% $505.7M
Financing Cash Flow -$55.0M+17.9% -$67.0M+48.1% -$129.0M-416.0% -$25.0M+62.7% -$67.0M+80.3% -$339.7M+36.5% -$534.9M-870.8% -$55.1M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $55.0M+0.2% $54.9M-57.6% $129.5M+460.6% $23.1M-65.8% $67.6M-80.3% $343.2M-35.5% $532.0M $0

CHWY Financial Ratios

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Gross Margin N/A 29.8%-0.6pp 30.3%+0.7pp 29.6%+1.2pp 28.4%-0.9pp 29.3%-0.2pp 29.5%-0.2pp 29.7%
Operating Margin N/A 2.1%-0.2pp 2.3%-0.2pp 2.5%+3.2pp -0.7%-1.6pp 0.9%-0.2pp 1.1%-1.1pp 2.2%
Net Margin N/A 1.9%-0.1pp 2.0%0.0pp 2.0%+1.1pp 0.9%+0.8pp 0.1%-10.3pp 10.5%+8.1pp 2.3%
Return on Equity N/A 12.6%-3.3pp 15.9%-0.7pp 16.6%+6.2pp 10.4%+8.7pp 1.8%-59.7pp 61.4%+51.0pp 10.4%
Return on Assets N/A 1.8%-0.2pp 2.0%-0.1pp 2.0%+1.1pp 0.9%+0.8pp 0.1%-9.5pp 9.6%+7.5pp 2.1%
Current Ratio 0.88+0.0 0.85+0.0 0.81+0.0 0.80+0.0 0.75+0.0 0.74-0.1 0.85-0.2 1.07
Debt-to-Equity 5.76-0.3 6.02-1.0 7.00-0.1 7.15-3.4 10.53-1.7 12.24+6.9 5.37+1.4 3.98
FCF Margin N/A 5.6%+2.2pp 3.4%+1.8pp 1.6%-3.6pp 5.2%-0.1pp 5.3%+2.1pp 3.2%+1.4pp 1.8%

Note: The current ratio is below 1.0 (0.88), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Chewy Inc (CHWY) reported $12.6B in total revenue for fiscal year 2026. This represents a 6.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Chewy Inc (CHWY) revenue grew by 6.2% year-over-year, from $11.9B to $12.6B in fiscal year 2026.

Yes, Chewy Inc (CHWY) reported a net income of $222.8M in fiscal year 2026, with a net profit margin of 1.8%.

Chewy Inc (CHWY) reported diluted earnings per share of $0.52 for fiscal year 2026. This represents a -42.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Chewy Inc (CHWY) had EBITDA of $383.6M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

Chewy Inc (CHWY) had a gross margin of 29.8% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

Chewy Inc (CHWY) had an operating margin of 2.0% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

Chewy Inc (CHWY) had a net profit margin of 1.8% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Chewy Inc (CHWY) has a return on equity of 44.8% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

Chewy Inc (CHWY) generated $562.4M in free cash flow during fiscal year 2026. This represents a 24.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Chewy Inc (CHWY) generated $691.6M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

Chewy Inc (CHWY) had $3.4B in total assets as of fiscal year 2026, including both current and long-term assets.

Chewy Inc (CHWY) invested $129.2M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

Yes, Chewy Inc (CHWY) spent $262.5M on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

Chewy Inc (CHWY) had a current ratio of 0.88 as of fiscal year 2026, which is below 1.0, which may suggest potential liquidity concerns.

Chewy Inc (CHWY) had a debt-to-equity ratio of 5.76 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

Chewy Inc (CHWY) had a return on assets of 6.6% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

Chewy Inc (CHWY) has an Altman Z-Score of 5.07, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Chewy Inc (CHWY) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Chewy Inc (CHWY) has an earnings quality ratio of 3.10x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Chewy Inc (CHWY) has an interest coverage ratio of 55.3x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Chewy Inc (CHWY) scores 36 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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