Petmed Express Inc Financials
This page shows Petmed Express Inc (PETS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Petmed Express Inc has an operating margin of -0.7%, meaning the company retains $-1 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -3.0% the prior year.
Petmed Express Inc's revenue declined 17.2% year-over-year, from $274.1M to $227.0M. This contraction results in a growth score of 0/100.
Petmed Express Inc carries a low D/E ratio of 0.75, meaning only $0.75 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 83/100, indicating a strong balance sheet with room for future borrowing.
Petmed Express Inc's current ratio of 1.26 indicates adequate short-term liquidity, earning a score of 30/100. The company can meet its near-term obligations, though with limited headroom.
While Petmed Express Inc generated $4.7M in operating cash flow, capex of $5.1M consumed most of it, leaving -$395K in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Petmed Express Inc passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Petmed Express Inc generates $-0.75 in operating cash flow ($4.7M OCF vs -$6.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Petmed Express Inc generated $227.0M in revenue in fiscal year 2025. This represents a decrease of 17.2% from the prior year.
Petmed Express Inc's EBITDA was $5.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 598.1% from the prior year.
Petmed Express Inc generated -$395K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 103.6% from the prior year.
Petmed Express Inc reported -$6.3M in net income in fiscal year 2025. This represents an increase of 16.0% from the prior year.
Petmed Express Inc earned $-0.30 per diluted share (EPS) in fiscal year 2025. This represents an increase of 18.9% from the prior year.
Petmed Express Inc held $54.7M in cash against $0 in long-term debt as of fiscal year 2025.
Petmed Express Inc paid $0.00 per share in dividends in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Petmed Express Inc had 21M shares outstanding in fiscal year 2025. This represents a decrease of 2.3% from the prior year.
Petmed Express Inc's gross margin was 30.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.5 percentage points from the prior year.
Petmed Express Inc's operating margin was -0.7% in fiscal year 2025, reflecting core business profitability. This is up 2.3 percentage points from the prior year.
Petmed Express Inc's net profit margin was -2.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.0 percentage points from the prior year.
Petmed Express Inc invested $5.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 13.3% from the prior year.
PETS Income Statement
| Metric | Q3'26 | Q3'26 | Q2'26 | Q1'26 | Q3'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $41K-99.9% | $40.7M-8.3% | $44.4M-13.3% | $51.2M+5.2% | $48.6M-6.4% | $52.0M-10.5% | $58.0M-12.3% | $66.2M |
| Cost of Revenue | $38K-99.9% | $32.2M+0.7% | $31.9M-13.1% | $36.8M | N/A | $35.8M-8.8% | $39.3M-16.7% | $47.2M |
| Gross Profit | $9K-99.9% | $9.5M-23.8% | $12.4M-13.8% | $14.4M-17.5% | $17.5M+8.3% | $16.1M-14.1% | $18.8M-1.4% | $19.0M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $12K-99.9% | $12.2M-14.0% | $14.2M+9.5% | $12.9M | N/A | $10.8M+2.8% | $10.5M+115.3% | $4.9M |
| Operating Income | $10K+100.1% | -$10.5M-24.9% | -$8.4M+75.4% | -$34.1M-577.9% | $7.1M+1687.1% | -$450K-181.2% | $554K-87.4% | $4.4M |
| Interest Expense | $0-100.0% | $400K | N/A | N/A | N/A | $400K | N/A | N/A |
| Income Tax | $11-99.9% | $11K+22.2% | $9K0.0% | $9K | N/A | $465K+133.2% | -$1.4M-246.2% | $958K |
| Net Income | $11K+100.1% | -$10.6M-23.9% | -$8.5M+75.1% | -$34.2M-854.6% | $4.5M+740.2% | -$707K-130.4% | $2.3M-38.0% | $3.8M |
| EPS (Diluted) | $0.50+200.0% | $-0.50-22.0% | $-0.41+75.2% | $-1.65-817.4% | $0.23+866.7% | $-0.03-127.3% | $0.11-38.9% | $0.18 |
PETS Balance Sheet
| Metric | Q3'26 | Q3'26 | Q2'26 | Q1'26 | Q3'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $88K-99.9% | $88.0M-12.3% | $100.3M-8.7% | $109.8M-26.1% | $148.7M+2.7% | $144.8M-0.8% | $146.0M-4.4% | $152.7M |
| Current Assets | $49K-99.9% | $48.5M-18.4% | $59.5M-12.4% | $67.9M-13.9% | $78.9M+15.3% | $68.4M-3.4% | $70.8M-8.8% | $77.6M |
| Cash & Equivalents | $27K-99.9% | $26.9M-25.4% | $36.1M-12.2% | $41.1M-24.8% | $54.7M+9.2% | $50.1M-3.7% | $52.0M+13.2% | $46.0M |
| Inventory | $12K-99.9% | $12.2M-17.3% | $14.8M-19.6% | $18.4M+13.3% | $16.2M+37.4% | $11.8M-9.9% | $13.1M-48.7% | $25.5M |
| Accounts Receivable | $2K-99.9% | $1.6M-20.7% | $2.0M+22.4% | $1.6M-30.7% | $2.3M+2.6% | $2.3M+39.4% | $1.6M-28.4% | $2.3M |
| Goodwill | $27K | $0 | $0 | $0-100.0% | $26.7M0.0% | $26.7M0.0% | $26.7M0.0% | $26.7M |
| Total Liabilities | $55K-99.9% | $55.2M-3.6% | $57.2M-1.8% | $58.3M-8.3% | $63.6M+30.8% | $48.6M-2.0% | $49.6M-16.2% | $59.2M |
| Current Liabilities | $55K-99.9% | $54.8M-3.4% | $56.7M-1.6% | $57.6M-8.2% | $62.8M+30.9% | $48.0M-1.8% | $48.8M-16.2% | $58.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $33K-99.9% | $32.8M-23.9% | $43.1M-16.5% | $51.5M-39.5% | $85.1M-11.5% | $96.2M-0.3% | $96.4M+3.1% | $93.5M |
| Retained Earnings | $13K-99.9% | $13.3M-44.2% | $23.9M-26.3% | $32.4M-51.3% | $66.5M-14.9% | $78.2M-0.9% | $78.9M+3.0% | $76.6M |
PETS Cash Flow Statement
| Metric | Q3'26 | Q3'26 | Q2'26 | Q1'26 | Q3'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $24K+100.3% | -$9.2M-323.4% | -$2.2M+82.3% | -$12.3M-275.0% | $7.0M+701.4% | -$1.2M-115.8% | $7.4M+186.8% | -$8.5M |
| Capital Expenditures | $4K+118.5% | -$21K-100.8% | $2.6M+103.1% | $1.3M-45.9% | $2.4M+207.3% | $777K-38.6% | $1.3M+85.2% | $683K |
| Free Cash Flow | $20K+100.2% | -$9.2M-92.3% | -$4.8M+64.6% | -$13.6M-393.3% | $4.6M+338.0% | -$1.9M-131.7% | $6.1M+166.6% | -$9.2M |
| Investing Cash Flow | $4K-81.5% | $21K+100.8% | -$2.6M-103.1% | -$1.3M+45.9% | -$2.4M-207.3% | -$777K+38.6% | -$1.3M-85.2% | -$683K |
| Financing Cash Flow | $261 | $0+100.0% | -$231K-670.0% | -$30K-500.0% | -$5K-400.0% | -$1K+98.6% | -$71K+31.7% | -$104K |
| Dividends Paid | $24-97.6% | $1K-95.5% | $22K+2100.0% | $1K-80.0% | $5K+400.0% | $1K-98.6% | $71K-31.7% | $104K |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | $0 | $0-100.0% | $11.5M |
PETS Financial Ratios
| Metric | Q3'26 | Q3'26 | Q2'26 | Q1'26 | Q3'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.3%0.0pp | 23.3%-4.7pp | 28.0%-0.2pp | 28.1%-7.8pp | 35.9%+4.9pp | 31.0%-1.3pp | 32.3%+3.6pp | 28.7% |
| Operating Margin | 25.8%+51.5pp | -25.8%-6.9pp | -18.9%+47.8pp | -66.7%-81.4pp | 14.7%+15.6pp | -0.9%-1.8pp | 0.9%-5.7pp | 6.6% |
| Net Margin | 25.9%+51.9pp | -25.9%-6.8pp | -19.2%+47.5pp | -66.7%-76.0pp | 9.3%+10.7pp | -1.4%-5.4pp | 4.0%-1.7pp | 5.7% |
| Return on Equity | 32.2%+25.7pp | 6.5%+2.7pp | 3.8%-3.1pp | 6.9%+0.4pp | 6.5%+1.1pp | 5.4%+3.0pp | 2.4%-1.6pp | 4.0% |
| Return on Assets | 12.0%+24.0pp | -12.0%-3.5pp | -8.5%+22.6pp | -31.1%-36.9pp | 5.8%+6.3pp | -0.5%-2.1pp | 1.6%-0.9pp | 2.5% |
| Current Ratio | 0.890.0 | 0.89-0.2 | 1.05-0.1 | 1.18-0.1 | 1.26-0.2 | 1.43-0.0 | 1.45+0.1 | 1.33 |
| Debt-to-Equity | 1.680.0 | 1.68+0.4 | 1.33+0.2 | 1.13+0.4 | 0.75+0.2 | 0.510.0 | 0.51-0.1 | 0.63 |
| FCF Margin | 48.6%+71.3pp | -22.7%-11.9pp | -10.8%+15.7pp | -26.5%-17.9pp | -8.6%-4.8pp | -3.7%-14.3pp | 10.5%+24.4pp | -13.9% |
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Frequently Asked Questions
What is Petmed Express Inc's annual revenue?
Petmed Express Inc (PETS) reported $227.0M in total revenue for fiscal year 2025. This represents a -17.2% 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 Petmed Express Inc's revenue growing?
Petmed Express Inc (PETS) revenue declined by 17.2% year-over-year, from $274.1M to $227.0M in fiscal year 2025.
Is Petmed Express Inc profitable?
No, Petmed Express Inc (PETS) reported a net income of -$6.3M in fiscal year 2025, with a net profit margin of -2.8%.
What is Petmed Express Inc's earnings per share (EPS)?
Petmed Express Inc (PETS) reported diluted earnings per share of $-0.30 for fiscal year 2025. This represents a 18.9% 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.
What is Petmed Express Inc's EBITDA?
Petmed Express Inc (PETS) had EBITDA of $5.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Petmed Express Inc's gross margin?
Petmed Express Inc (PETS) had a gross margin of 30.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Petmed Express Inc's operating margin?
Petmed Express Inc (PETS) had an operating margin of -0.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Petmed Express Inc's net profit margin?
Petmed Express Inc (PETS) had a net profit margin of -2.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Petmed Express Inc's free cash flow?
Petmed Express Inc (PETS) generated -$395K in free cash flow during fiscal year 2025. This represents a -103.6% 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 Petmed Express Inc's operating cash flow?
Petmed Express Inc (PETS) generated $4.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Petmed Express Inc's total assets?
Petmed Express Inc (PETS) had $148.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Petmed Express Inc's capital expenditures?
Petmed Express Inc (PETS) invested $5.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How many shares does Petmed Express Inc have outstanding?
Petmed Express Inc (PETS) had 21M shares outstanding as of fiscal year 2025.
What is Petmed Express Inc's current ratio?
Petmed Express Inc (PETS) had a current ratio of 1.26 as of fiscal year 2025, which is considered adequate.
What is Petmed Express Inc's debt-to-equity ratio?
Petmed Express Inc (PETS) had a debt-to-equity ratio of 0.75 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Petmed Express Inc's return on assets (ROA)?
Petmed Express Inc (PETS) had a return on assets of -4.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Petmed Express Inc's Piotroski F-Score?
Petmed Express Inc (PETS) has a Piotroski F-Score of 4 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Petmed Express Inc's earnings high quality?
Petmed Express Inc (PETS) has an earnings quality ratio of -0.75x, considered mixed 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.
How financially healthy is Petmed Express Inc?
Petmed Express Inc (PETS) scores 23 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.