Chewy Inc Financials
Chewy Inc (CHWY) reported $12.6B in revenue for fiscal year 2025, up 6.2% from the prior fiscal year. This page shows its 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).
Chewy’s numbers show an inventory-led commerce model where margin expansion, not just scale, is now doing more work.
FY2025’s net margin of1.8% versus FY2024’s3.3% looks weaker on the surface, but operating margin still improved. With operating cash flow reaching$691.6M , the gap is best read as a tax-effect reversal from FY2024’s$241M tax benefit rather than a softer operating engine.
Across FY2023-FY2025, gross margin widened from
Free cash flow reached
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. 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.
Chewy Inc has an operating margin of 2.0%, meaning the company retains $2 of operating profit per $100 of revenue. This results in a moderate score of 35/100, indicating healthy but not exceptional operating efficiency. This is up from 0.9% the prior year.
Chewy Inc's revenue grew 6.2% year-over-year to $12.6B, a solid pace of expansion. This earns a growth score of 55/100.
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 9/100, reflecting increased financial risk.
Chewy Inc's current ratio of 0.88 is below the typical benchmark, resulting in a score of 15/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Chewy Inc has a free cash flow margin of 4.5%, earning a moderate score of 43/100. The company generates positive cash flow after capital investments, but with room for improvement.
Chewy Inc's ROE of 44.8% shows moderate profitability relative to equity, earning a score of 62/100. This is down from 150.2% the prior year.
Chewy Inc scores 5.45, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Chewy Inc passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
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.
Chewy Inc earns $55.28 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
Earnings & Revenue
Chewy Inc generated $12.6B in revenue in fiscal year 2025. This represents an increase of 6.2% from the prior year.
Chewy Inc's EBITDA was $383.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 68.8% from the prior year.
Chewy Inc reported $222.8M in net income in fiscal year 2025. This represents a decrease of 43.3% from the prior year.
Chewy Inc earned $0.52 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 42.9% from the prior year.
Cash & Balance Sheet
Chewy Inc generated $562.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 24.3% from the prior year.
Chewy Inc held $860.1M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Chewy Inc's gross margin was 29.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.6 percentage points from the prior year.
Chewy Inc's operating margin was 2.0% in fiscal year 2025, reflecting core business profitability. This is up 1.1 percentage points from the prior year.
Chewy Inc's net profit margin was 1.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.5 percentage points from the prior year.
Chewy Inc's ROE was 44.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 105.4 percentage points from the prior year.
Capital Allocation
Chewy Inc spent $262.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 72.2% from the prior year.
Chewy Inc invested $129.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 10.2% from the prior year.
Not reported for fiscal year 2025.
CHWY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.6B | $12.6B+6.2% | $11.9B+6.4% | $11.1B+10.2% | $10.1B+12.8% | $9.0B+25.5% | $7.1B+47.4% | $4.8B+37.2% | $3.5B+67.9% | $2.1B |
| Cost of Revenue | $8.8B | $8.8B+5.4% | $8.4B+5.1% | $8.0B+9.6% | $7.3B+10.7% | $6.6B+23.6% | $5.3B+43.8% | $3.7B+31.4% | $2.8B+62.3% | $1.7B |
| Gross Profit | $3.8B | $3.8B+8.3% | $3.5B+9.7% | $3.2B+11.5% | $2.8B+18.8% | $2.4B+31.0% | $1.8B+59.2% | $1.1B+60.1% | $714.8M+94.5% | $367.6M |
| SG&A Expenses | $2.7B | $2.7B+4.8% | $2.6B+4.4% | $2.4B+14.8% | $2.1B+15.7% | $1.8B+31.6% | $1.4B+44.1% | $969.9M+64.5% | $589.5M+30.5% | $451.7M |
| Operating Income | $254.3M | $254.3M+125.8% | $112.6M+577.1% | -$23.6M-141.8% | $56.4M+176.7% | -$73.6M+18.7% | -$90.5M+64.2% | -$252.7M+5.6% | -$267.8M+20.7% | -$337.9M |
| Interest Expense | $4.6M | $4.6M-16.7% | $5.5M+54.1% | $3.6M+39.1% | $2.6M+19.0% | $2.2M-0.2% | $2.2M | N/A | N/A | N/A |
| Income Tax | $40.5M | $40.5M+116.8% | -$241.0M-2870.1% | $8.7M+228.8% | $2.6M | $0 | $0 | $0 | $0 | $0 |
| Net Income | $222.8M | $222.8M-43.3% | $392.7M+891.7% | $39.6M-20.6% | $49.9M+166.4% | -$75.2M+18.7% | -$92.5M+63.4% | -$252.4M+5.8% | -$267.9M+20.8% | -$338.1M |
| EPS (Diluted) | — | $0.52-42.9% | $0.91+911.1% | $0.09-25.0% | $0.12+166.7% | -$0.18+21.7% | -$0.23+63.5% | -$0.63 | N/A | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
TTM is the trailing twelve months, Q2 FY2026 through Q1 FY2027, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
CHWY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.4B+11.7% | $3.0B-5.4% | $3.2B+26.5% | $2.5B+20.8% | $2.1B+19.8% | $1.7B+86.7% | $932.3M+72.1% | $541.6M | N/A |
| Current Assets | $2.0B+22.5% | $1.7B-21.0% | $2.1B+38.0% | $1.5B+15.2% | $1.3B+7.9% | $1.2B+94.8% | $629.8M+40.4% | $448.6M | N/A |
| Cash & Equivalents | $860.1M+44.4% | $595.8M-1.1% | $602.2M+81.6% | $331.6M-45.0% | $603.1M+7.1% | $563.3M+165.6% | $212.1M+140.1% | $88.3M+28.4% | $68.8M |
| Inventory | $864.8M+3.4% | $836.7M+16.3% | $719.3M+6.1% | $678.0M+21.0% | $560.4M+9.2% | $513.3M+61.5% | $317.8M+43.9% | $220.9M | N/A |
| Accounts Receivable | $222.2M+31.5% | $169.0M+9.7% | $154.0M+21.3% | $127.0M+2.8% | $123.5M+22.7% | $100.7M+25.1% | $80.5M+65.1% | $48.7M | N/A |
| Goodwill | $39.4M0.0% | $39.4M-0.1% | $39.4M0.0% | $39.4M | $0 | N/A | N/A | N/A | N/A |
| Total Liabilities | $2.9B+4.2% | $2.8B+2.9% | $2.7B+13.4% | $2.4B+13.9% | $2.1B+18.9% | $1.7B+30.4% | $1.3B+52.3% | $877.6M | N/A |
| Current Liabilities | $2.3B+4.3% | $2.2B+4.5% | $2.1B+15.5% | $1.8B+11.1% | $1.6B+19.1% | $1.4B+25.5% | $1.1B+35.2% | $814.0M | N/A |
| Total Equity | $497.9M+90.4% | $261.5M-48.8% | $510.3M+218.3% | $160.3M+504.6% | -$39.6M+27.9% | -$55.0M+86.4% | -$404.0M-20.3% | -$335.9M-301.4% | -$83.7M |
| Retained Earnings | -$1.4B+14.1% | -$1.6B+19.9% | -$2.0B+2.0% | -$2.0B-0.2% | -$2.0B-3.8% | -$1.9B-5.0% | -$1.8B-15.9% | -$1.6B | N/A |
Not reported in any period shown, so not listed: Long-Term Debt.
CHWY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $713.7M | $691.6M+16.0% | $596.3M+22.6% | $486.2M+39.0% | $349.8M+82.4% | $191.7M+44.4% | $132.8M+185.0% | $46.6M+447.2% | -$13.4M+83.2% | -$79.7M |
| Capital Expenditures | $129.2M | $129.2M-10.2% | $143.8M+0.3% | $143.3M-37.8% | $230.3M+25.7% | $183.2M+40.1% | $130.7M+168.8% | $48.6M+10.1% | $44.2M+9.6% | $40.3M |
| Free Cash Flow | $584.5M | $562.4M+24.3% | $452.5M+32.0% | $342.9M+187.0% | $119.5M+1296.1% | $8.6M+325.3% | $2.0M+197.9% | -$2.1M+96.4% | -$57.6M+52.0% | -$120.0M |
| Investing Cash Flow | -$339.2M | -$151.8M-138.5% | $394.6M+237.3% | -$287.4M+53.3% | -$615.5M-218.5% | -$193.3M-56.2% | -$123.7M-148.1% | -$49.9M-256.6% | $31.8M+116.3% | -$195.8M |
| Financing Cash Flow | -$505.8M | -$276.0M+72.3% | -$996.7M-1492.0% | $71.6M+1163.3% | -$6.7M-116.3% | $41.3M-87.9% | $342.2M+169.4% | $127.0M+11033.8% | $1.1M-99.4% | $187.8M |
| Share Buybacks | $439.4M | $262.5M-72.2% | $942.8M | $0 | $0 | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q2 FY2026 through Q1 FY2027, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
CHWY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.8%+0.6pp | 29.2%+0.9pp | 28.4%+0.4pp | 28.0%+1.4pp | 26.6%+1.1pp | 25.5%+1.9pp | 23.6%+3.4pp | 20.2%+2.8pp | 17.5% |
| Operating Margin | 2.0%+1.1pp | 0.9%+1.2pp | -0.2%-0.8pp | 0.6%+1.4pp | -0.8%+0.4pp | -1.3%+3.9pp | -5.2%+2.4pp | -7.6%+8.5pp | -16.1% |
| Net Margin | 1.8%-1.5pp | 3.3%+2.9pp | 0.4%-0.1pp | 0.5%+1.3pp | -0.8%+0.5pp | -1.3%+3.9pp | -5.2%+2.4pp | -7.6%+8.5pp | -16.1% |
| Return on Equity | 44.8%-105.4pp | 150.2%+142.4pp | 7.8%-23.4pp | 31.1% | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 6.6%-6.4pp | 13.0%+11.8pp | 1.2%-0.7pp | 2.0%+5.6pp | -3.6%+1.7pp | -5.3%+21.8pp | -27.1%+22.4pp | -49.5% | N/A |
| Current Ratio | 0.88+0.1x | 0.75-0.2x | 1.00+0.2x | 0.830.0x | 0.80-0.1x | 0.89+0.3x | 0.570.0x | 0.55 | N/A |
| Debt-to-Equity | 5.76-4.8x | 10.53+5.3x | 5.25-9.5x | 14.72 | N/A | N/A | N/A | N/A | N/A |
| FCF Margin | 4.5%+0.6pp | 3.8%+0.7pp | 3.1%+1.9pp | 1.2%+1.1pp | 0.1%+0.1pp | 0.0%+0.1pp | 0.0%+1.6pp | -1.6%+4.1pp | -5.7% |
Note: The current ratio is below 1.0 (0.88), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Where Chewy Inc Ranks
Frequently Asked Questions
What is Chewy Inc's annual revenue?
Chewy Inc (CHWY) reported $12.6B in total revenue for fiscal year 2025. 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.
How fast is Chewy Inc's revenue growing?
Chewy Inc (CHWY) revenue grew by 6.2% year-over-year, from $11.9B to $12.6B in fiscal year 2025.
Is Chewy Inc profitable?
Yes, Chewy Inc (CHWY) reported a net income of $222.8M in fiscal year 2025, with a net profit margin of 1.8%.
What is Chewy Inc's EBITDA?
Chewy Inc (CHWY) had EBITDA of $383.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Chewy Inc's gross margin?
Chewy Inc (CHWY) had a gross margin of 29.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Chewy Inc's operating margin?
Chewy Inc (CHWY) had an operating margin of 2.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Chewy Inc's net profit margin?
Chewy Inc (CHWY) had a net profit margin of 1.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Chewy Inc's return on equity (ROE)?
Chewy Inc (CHWY) has a return on equity of 44.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Chewy Inc's free cash flow?
Chewy Inc (CHWY) generated $562.4M in free cash flow during fiscal year 2025. 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.
What is Chewy Inc's operating cash flow?
Chewy Inc (CHWY) generated $691.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Chewy Inc's total assets?
Chewy Inc (CHWY) had $3.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Chewy Inc's capital expenditures?
Chewy Inc (CHWY) invested $129.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Chewy Inc's current ratio?
Chewy Inc (CHWY) had a current ratio of 0.88 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Chewy Inc's debt-to-equity ratio?
Chewy Inc (CHWY) had a debt-to-equity ratio of 5.76 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Chewy Inc's return on assets (ROA)?
Chewy Inc (CHWY) had a return on assets of 6.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Chewy Inc's Altman Z-Score?
Chewy Inc (CHWY) has an Altman Z-Score of 5.45, 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.
What is Chewy Inc's Piotroski F-Score?
Chewy Inc (CHWY) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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.
Are Chewy Inc's earnings high quality?
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.
Can Chewy Inc cover its interest payments?
Chewy Inc (CHWY) has an interest coverage ratio of 55.28x, 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.
How financially healthy is Chewy Inc?
Chewy Inc (CHWY) scores 37 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.