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Chewy, Inc. (CHWY) stock

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NYSE: CHWY NYSE Other Specialty Retail Next results ~December 9, 2026

C+ Fundamentals grade

Chewy, Inc. is a US-listed company in the other specialty retail industry. Its financial year ends in January.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$7.9

Cash-flow model

Base case. Range ~$6.0–$10 across our lower- and higher-growth cases (1.2%–11.2% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 64% below it.

Price used: $22.27, November 2, 2026

Chewy, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 5 selling0 purchases and 19 sales by directors and officers, last 12 monthsInsider trades
  • Funds267 adding, 310 cuttingOf 71 active managers that changed their stake, 23 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Chewy files

Where Chewy stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $13.1bn, up 5.9% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin held at 4.3%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 4 of our 6 financial-health checks. Our cash-flow model value is $7.56 a share, against a share price of $21.64. At that price, our model says the market is pricing in about 25.4% a year of cash-flow growth for five years, faster than the 7.8% a year revenue growth it has delivered.

Source: 10-Q filed September 9, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 9, 2026 (estimated)

Chewy, Inc.'s trailing-twelve-month revenue grew 5.9% year on year, with a free-cash-flow margin of 4.3%. Where it lags: stock pay as % of revenue of 2.3% ranks 26 of 30 other specialty retail companies we cover.

Our discounted-cash-flow model values the business at ~$7.9 per share in the base case (~$6.0–$10 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 22.7% while net income grew 81.1%: a 58pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 1.5% in a year, so each share owns more of the business.

Things to watch

  • Priced above our value. The share price of $22.27 is 64% above our value per share of $8.
  • Volatile shares. Over the past year the shares showed annualised volatility of 47% and a beta of 0.7 against the S&P 500.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 2.3% ranks 26 of 30 other specialty retail companies we cover (median 0.7%).
  • Heavily shorted. 13.1% of the shares available to trade are sold short (3.1 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2027 Q2

Filed September 9, 2026
Earnings per share
$0.36 against an average estimate of $0.36: missed by 0.9%
Revenue
$3.33bn, up 7.3% on a year earlier
Share reaction
-9.4% in the first session after the results on September 9, 2026, against -1.1% for the S&P 500
Next report
December 9, 2026; average EPS estimate $0.38

Chewy's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+4.6%
  • 1 week+1.7%
  • 1 month+22.6%
  • This year-32.6%
  • 1 year-34.0%
  • 5 years-69.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$13.1B
Operating margin
2.5%
Net margin
2.1%
EPS (TTM, diluted)
$0.65

Growth

Revenue growth
+5.9%
Change in growth rate
−0.3 pts
Share count change
−1.4%

Cash

Free cash flow (TTM)
$568M
FCF margin
4.3%
Stock pay % of revenue
2.3%

Earnings

Last results
September 9, 2026
Next results (est.)
December 9, 2026

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results
  3. Announcement
  4. Insider trade
  5. Shareholder vote

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Chewy, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 24.9% a year of cash-flow growth for five years.That is faster than the 7.8% a year revenue growth Chewy has delivered.

  • Priced in24.9%
  • Last 12 months5.9%
  • 3 years a year6.4%
  • 5 years a year7.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($21.89, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$7.9
Price used
$21.89close November 3, 2026
Implied change
▼ 64%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Chewy, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($152M, FY2027 Q2 TTM), growing 6.7% and 6.4% in the next two years (forecasts, guidance and its record), then back to 6.2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$6.0–~$10 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Chewy, Inc.'s free cash flow after stock-based pay ( $152M, FY2027 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Chewy, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.97 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$7.9 ~$6.0–$10 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$24 ~$16–$38 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$8.2 ~$5.8–$12 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$4.0 ~$3.5–$4.8 Left out: out of range vs price (0.18x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$12 ~$7.9–$24 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Chewy, Inc. with Other Specialty Retail in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +33%
  • Free-cash-flow margin 1 point lower ▼ −23%
  • Last year's free-cash-flow margin change, if it persists ▲ +16%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $5$7$10$13$18$23
8.5% $4$6$7$10$13$17
10% $3$4$6$8$10$13

Valuation multiples over time Market data may be delayed

At fiscal year end 2020202120222023202420252026Now
Share price$26.51$101.82$43.95$45.91$19.38$38.98$29.11$22.27
Market value$10.6bn$41.5bn$18.3bn$19.6bn$8.4bn$16.8bn$12.4bn$9.3bn
+ Net debt (− = net cash)−$212m−$563m−$603m−$332m−$602m−$596m−$860m−$11m
Enterprise value$10.3bn$40.9bn$17.7bn$19.3bn$7.8bn$16.2bn$11.5bn$9.3bn
Multiples
Price / sales 2.2x5.8x2.0x1.9x0.8x1.4x1.0x0.7x
Price / earnings ———n/mn/m42.8x55.6x34.1x
Price / free cash flow —n/mn/m164.4x24.4x37.1x22.0x16.5x
EV / EBITDA ———138.0x90.2x71.3x30.1x20.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

28 /100

Weak moat

How hard Chewy's competitive advantage looks for rivals to wear away, judged from 8 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 1.2% of total assets over 8 years.

  • Pricing power 10 / 20

    Gross margin has been a median 27.7%, moving by 2.6 percentage points (standard deviation) across 8 years.

  • Durability 0 / 20

    Operating margin has been a median 0.2%; its worst year was -6.1%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 5 of 8 years, at a median 2.4% of revenue.

  • Discipline 16 / 20

    The diluted share count rose 0.7% over five years; stock-based pay has been a median 2.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (33 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: December 9, 2026, before the open. Analysts expect revenue of $3.3bn and EPS of $0.38 (range $0.35 to $0.41) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.54 +22% $13.5bn +7%
Next $1.87 +21% $14.4bn +7%

Next year's EPS estimate has moved +1.7% in 90 days, across 18 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.9% on 90 days ago. In the last 30 days, 10 analysts raised Chewy, Inc.'s forecast and 5 cut it.

Consensus EPS forecast Chewy, Inc., last 90 days
$1.50 $1.60 $1.70 $1.80 $1.90 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.53 Current fiscal year, 60 days ago: $1.53 Current fiscal year, 30 days ago: $1.54 Current fiscal year, 7 days ago: $1.54 Current fiscal year, Now: $1.54 $1.54 Next fiscal year, 90 days ago: $1.84 Next fiscal year, 60 days ago: $1.84 Next fiscal year, 30 days ago: $1.87 Next fiscal year, 7 days ago: $1.87 Next fiscal year, Now: $1.87 $1.87

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.53$1.84
60 days ago $1.53$1.84
30 days ago $1.54$1.87
7 days ago $1.54$1.87
Now $1.54$1.87

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $0.36 $0.36 −0.9%
Apr 2026 $0.43 $0.43 +0.8%
Jan 2026 $0.28 $0.27 −3.1%
Oct 2025 $0.30 $0.32 +5.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 9, 2026

No numeric guidance in Chewy, Inc.'s latest earnings release (filed September 9, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Chewy, Inc.'s revenue by +6.7% next year and +6.4% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+6.9%, weight 69%) and the company's own record (+6.2%, weight 31%) . How the weights are set.

Analyst recommendations

26 analysts, Oct 2026
Buy1869%
Hold831%
Sell00%

Monthly trend

  1. Oct 2026711826
  2. Sep 2026711826
  3. Aug 2026812626
  4. Jul 2026812525

Counts of recommendations published by analysts covering Chewy, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
13.1%
of tradable shares
Days to cover
3.11
at average volume
Short interest, 1 month
+27%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
2.7%
of shares
Employees
18,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −34.0%

$33.72 on October 31, 2025 to $22.27

ThenNowEffect
Revenue (last 12 months) $12.3bn $13.1bn +5.9%
Net margin 1.2% 2.1% +71.1%
P/E multiple 95.0x 34.1x −64.1%
Share count 426m 420m +1.5%

Biggest factor: p/e multiple.

Last 3 years +5.4%

$21.13 on November 3, 2023 to $22.27

ThenNowEffect
Revenue (last 12 months) $10.8bn $13.1bn +20.6%
Net margin 0.5% 2.1% +335.2%
P/E multiple 174.2x 34.1x −80.4%
Share count 430m 420m +2.4%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CHWY−34%−37%−36%+42%−1%−33%
Industry peers (median)+44%−27%+3%−23%−11%−17%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CHWY42%33%33%50%42%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CHWY−56%−61%−66%−37%−34%−49%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since June 14, 2019: 87% from February 12, 2021 to April 30, 2024. Getting back needed a 692% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$17.51 – $35.37
From 52-week high
−37.0%
vs 50-day average
+6.5%
vs 200-day average
−4.1%
Volatility (1 year)
47%
Beta vs S&P 500
0.73

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±9.7%
After a week
5 up, 7 down
typical move ±9.8%
After a month
6 up, 6 down
typical move ±14.1%
Results releasedNext dayS&P 500 next day5 days21 days
September 9, 2026 −9.4% −1.1% −10.1% −18.7%
June 10, 2026 −8.0% +0.1% −12.9% −0.4%
March 25, 2026 +15.2% −1.2% +13.5% +11.0%
December 10, 2025 −1.9% +0.9% −5.9% −2.4%
September 10, 2025 −14.4% +1.1% −9.3% −7.1%
June 11, 2025 −10.0% +0.1% −9.3% −17.4%
March 26, 2025 −2.7% −1.5% +1.2% +9.5%
December 4, 2024 −7.6% +0.5% −3.2% +10.3%
August 28, 2024 +11.0% −0.6% +1.2% +15.9%
May 29, 2024 +27.4% −1.4% +33.6% +61.1%
March 20, 2024 −4.6% +1.3% −6.2% −3.2%
December 6, 2023 +4.4% +0.4% +11.1% +12.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Chewy, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.13× the last 60 days’ realised volatility .
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

CHWY Chewy, Inc. Grade C+ $22.15

Own 100 shares, sell the $23.00 call expiring November 27, 2026 (25 days) for $0.71 a share — $71.00 per contract.

Previous session · Bid $0.71, ask $0.88, quoted Mon 2 Nov, 17:18 New York time with CHWY at $22.15. Option prices move with the shares: check the live chain at your broker before trading.

  • If CHWY ends below $23.00: you keep your shares and the $71.00 — 3.2% extra on the position, 46.8% a year at that pace.
  • If it ends above $23.00: your shares are sold at $23.00, a total return of 7.0% including the premium — at or above our value of ~$7.9.
$156 $0 −$429 Break-even $21.44 Price $22.15 ← Our value ~$7.9
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$71.00
Annualised
46.8%
Break-even
$21.44
Max gain
$156
Chance of selling
~42%

Collar

Own the shares, buy the $22.00 put and sell the $23.00 call, both expiring November 27, 2026 (25 days).

  • Net cost of $0.32 a share ($32.00 per contract of 100 shares).
  • Worst case at expiry: -2.1%, if the shares fall below $22.00 (-0.7% from today).
  • Best case at expiry: +2.4%, if the shares rise above $23.00 (+3.8%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $7.90: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Chewy, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Chewy, Inc.
$11B $12B $13B $14B FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue (TTM), FY24 Q3: $11B Revenue (TTM), FY24 Q4: $11.1B Revenue (TTM), FY25 Q1: $11.2B Revenue (TTM), FY25 Q2: $11.3B Revenue (TTM), FY25 Q3: $11.4B Revenue (TTM), FY25 Q4: $11.9B Revenue (TTM), FY26 Q1: $12.1B Revenue (TTM), FY26 Q2: $12.3B Revenue (TTM), FY26 Q3: $12.6B Revenue (TTM), FY26 Q4: $12.6B Revenue (TTM), FY27 Q1: $12.8B Revenue (TTM), FY27 Q2: $13.1B $13.1B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q3 $11B
FY24 Q4 $11.1B
FY25 Q1 $11.2B
FY25 Q2 $11.3B
FY25 Q3 $11.4B
FY25 Q4 $11.9B
FY26 Q1 $12.1B
FY26 Q2 $12.3B
FY26 Q3 $12.6B
FY26 Q4 $12.6B
FY27 Q1 $12.8B
FY27 Q2 $13.1B
Revenue growth, TTM YoY Chewy, Inc.
0% 5% 10% 15% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue growth, TTM YoY, FY24 Q3: 12.1% Revenue growth, TTM YoY, FY24 Q4: 10.2% Revenue growth, TTM YoY, FY25 Q1: 7.2% Revenue growth, TTM YoY, FY25 Q2: 4.4% Revenue growth, TTM YoY, FY25 Q3: 3.5% Revenue growth, TTM YoY, FY25 Q4: 6.4% Revenue growth, TTM YoY, FY26 Q1: 7.7% Revenue growth, TTM YoY, FY26 Q2: 9.2% Revenue growth, TTM YoY, FY26 Q3: 10.0% Revenue growth, TTM YoY, FY26 Q4: 6.2% Revenue growth, TTM YoY, FY27 Q1: 6.1% Revenue growth, TTM YoY, FY27 Q2: 5.9% 5.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q3 12.1%
FY24 Q4 10.2%
FY25 Q1 7.2%
FY25 Q2 4.4%
FY25 Q3 3.5%
FY25 Q4 6.4%
FY26 Q1 7.7%
FY26 Q2 9.2%
FY26 Q3 10.0%
FY26 Q4 6.2%
FY27 Q1 6.1%
FY27 Q2 5.9%
Operating margin (TTM) Chewy, Inc.
-1% 0% 1% 2% 3% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Operating margin (TTM), FY24 Q3: 0.1% Operating margin (TTM), FY24 Q4: -0.2% Operating margin (TTM), FY25 Q1: 0.1% Operating margin (TTM), FY25 Q2: 0.6% Operating margin (TTM), FY25 Q3: 0.9% Operating margin (TTM), FY25 Q4: 0.9% Operating margin (TTM), FY26 Q1: 1.0% Operating margin (TTM), FY26 Q2: 1.3% Operating margin (TTM), FY26 Q3: 1.6% Operating margin (TTM), FY26 Q4: 2.0% Operating margin (TTM), FY27 Q1: 2.4% Operating margin (TTM), FY27 Q2: 2.5% 2.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q3 0.1%
FY24 Q4 -0.2%
FY25 Q1 0.1%
FY25 Q2 0.6%
FY25 Q3 0.9%
FY25 Q4 0.9%
FY26 Q1 1.0%
FY26 Q2 1.3%
FY26 Q3 1.6%
FY26 Q4 2.0%
FY27 Q1 2.4%
FY27 Q2 2.5%
FCF margin (TTM) Chewy, Inc.
2% 3% 4% 5% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 FCF margin (TTM), FY24 Q3: 2.9% FCF margin (TTM), FY24 Q4: 3.1% FCF margin (TTM), FY25 Q1: 2.4% FCF margin (TTM), FY25 Q2: 2.3% FCF margin (TTM), FY25 Q3: 3.2% FCF margin (TTM), FY25 Q4: 3.8% FCF margin (TTM), FY26 Q1: 3.7% FCF margin (TTM), FY26 Q2: 3.8% FCF margin (TTM), FY26 Q3: 3.9% FCF margin (TTM), FY26 Q4: 4.5% FCF margin (TTM), FY27 Q1: 4.6% FCF margin (TTM), FY27 Q2: 4.3% 4.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 2.9%
FY24 Q4 3.1%
FY25 Q1 2.4%
FY25 Q2 2.3%
FY25 Q3 3.2%
FY25 Q4 3.8%
FY26 Q1 3.7%
FY26 Q2 3.8%
FY26 Q3 3.9%
FY26 Q4 4.5%
FY27 Q1 4.6%
FY27 Q2 4.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Chewy took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $12.6B
  2. Cost of revenue $8.8B · 70.2%
  3. Gross profit $3.8B · 29.8%
  4. Selling, general and admin $2.7B · 21.2%
  5. Other operating costs $825M · 6.5%
  6. Operating income $254M · 2.0%
  7. Net income $223M · 1.8%

Shares of revenue. Source: Chewy's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2018 Jan 2018 2019 Feb 2019 2020 Feb 2020 2021 Jan 2021 2022 Jan 2022 2023 Jan 2023 2024 Jan 2024 2025 Feb 2025 2026 Feb 2026 LTM Aug 2026
Income
Revenue 2.1 3.5 4.8 7.1 9.0 10.1 11.1 11.9 12.6 13.1
Gross profit 0.4 0.7 1.1 1.8 2.4 2.8 3.2 3.5 3.8 3.9
EBITDA −0.3 −0.2 −0.2 −0.1 −0.0 0.1 0.1 0.2 0.4 0.4
Operating income −0.3 −0.3 −0.3 −0.1 −0.1 0.1 −0.0 0.1 0.3 0.3
Net income −0.3 −0.3 −0.3 −0.1 −0.1 0.0 0.0 0.4 0.2 0.3
Diluted EPS −$2.67 −$0.68 −$0.63 −$0.23 −$0.18 $0.12 $0.09 $0.91 $0.52 $0.65
Growth (year on year)
Revenue — +67.9% +37.2% +47.4% +25.5% +12.8% +10.2% +6.4% +6.2% +5.9%
EBITDA — — — — — — — — — +70.4%
Net income — — — — — — — — −43.3% —
Diluted EPS — — — — — — — — −42.9% —
Margins
Gross margin 17.5% 20.2% 23.6% 25.5% 26.6% 28.0% 28.4% 29.2% 29.8% 29.9%
EBITDA margin −15.5% −6.9% −4.6% −0.8% −0.2% 1.4% 0.8% 1.9% 3.0% 3.4%
Operating margin −16.1% −7.6% −5.2% −1.3% −0.8% 0.6% −0.2% 0.9% 2.0% 2.5%
Net margin −16.1% −7.6% −5.2% −1.3% −0.8% 0.5% 0.4% 3.3% 1.8% 2.1%
Free-cash-flow margin −5.7% −1.6% −0.0% 0.0% 0.1% 1.2% 3.1% 3.8% 4.5% 4.3%
Cash flow
Cash from operations −0.1 −0.0 0.0 0.1 0.2 0.3 0.5 0.6 0.7 0.7
Capital spending 0.0 0.0 0.0 0.1 0.2 0.2 0.1 0.1 0.1 0.1
Free cash flow −0.1 −0.1 −0.0 0.0 0.0 0.1 0.3 0.5 0.6 0.6
Stock-based pay 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.3
Free cash flow after stock pay −0.1 −0.1 −0.1 −0.1 −0.1 −0.0 0.1 0.1 0.3 0.3
Balance sheet
Cash 0.1 0.1 0.2 0.6 0.6 0.3 0.6 0.6 0.9 0.6
Total debt — — — — — — — — — 0.6
Net debt (negative = net cash) −0.1 −0.1 −0.2 −0.6 −0.6 −0.3 −0.6 −0.6 −0.9 −0.0
Diluted shares 262m 393m 398m 407m 417m 428m 432m 431m 426m 420m
Returned to shareholders
Buybacks — — — — — 0.0 0.0 0.9 0.3 0.5
Total returned — — — — — 0.0 0.0 0.9 0.3 0.5

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 6 checks passed · August 2, 2026
What it owns · $3.7bn
Short-term assets $1.8bnLonger-term assets $1.9bn
What it owes, and who funded it · $3.7bn
Short-term liabilities $2.2bnLonger-term liabilities $1.2bnShareholders' equity $371m
  • Short-term assets cover short-term liabilities $1.8bn of assets due within a year against $2.2bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.8bn short-term assets against $1.2bn of longer-dated liabilities.
  • More cash than debt $611m of cash against $592m of debt.
  • Debt below 40% of shareholders' equity Debt is 160% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $717m of operating cash flow against $592m of debt.
  • Operating profit covers interest at least five times over Operating income of $328m against $12m of interest.

From Chewy, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q2 TTM
Buybacks (TTM)
$510M
Returned to shareholders
90%
of free cash flow
Buybacks, last 3 fiscal years
$1.2B
Diluted share count
−1.4%
year over year
Total shareholder yield
5.6%
dividends 0.0% + buybacks 5.6% of market value
Sales & admin spending
20.9%
of revenue
Days sales outstanding
6 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in other specialty retail
Last 12 months unless stated CHWY ULTA TSCO DKS BBWI ASO Median
Revenue, last 12 months $13.1bn $13.0bn $15.8bn $21.1bn $7.2bn $6.2bn $1.2bn
Revenue growth, last 12 months 5.9% 11.2% 4.0% 53.5% −2.2% 3.7% 4.0%
Revenue growth, 3-year average 6.4% 6.5% 2.2% 18.8% −1.1% −0.1% 2.6%
Revenue growth, latest quarter 7.3% 8.9% 2.3% 53.2% −2.3% 3.0% 2.3%
Gross margin 29.9% 39.3% 36.5% 32.1% 44.1% 35.8% 36.5%
Operating margin 2.5% 12.5% 8.5% 5.5% 16.7% 9.6% 2.2%
Operating margin, 3-year average 1.5% 13.3% 9.5% 9.0% 17.1% 9.4% 1.5%
Net margin 2.1% 9.3% 6.4% 4.0% 10.8% 6.4% 0.8%
Cash from operations / revenue 5.5% 12.1% 8.2% 7.5% 17.7% 8.8% 5.5%
Free-cash-flow margin 4.3% 8.9% 1.9% 1.1% 14.3% 5.3% 3.0%
Free-cash-flow margin, 3-year average 3.5% 8.6% 3.8% 3.4% 11.4% 5.4% 2.7%
Stock pay / revenue 2.3% 0.4% 0.4% 0.7% 0.3% 0.4% 0.6%
Change in share count −1.4% −4.2% −1.2% 9.3% −5.5% −4.5% 0.7%

Median of all 35 companies we cover in other specialty retail. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

35 other specialty retail companies
Measure Company Peer median Rank
Revenue growth Growth 5.9% 4.0% 15 of 35
Change in growth rate Growth -0.3pp -0.2pp 19 of 35
Gross margin Profitability 29.9% 36.5% 23 of 31
Operating margin Profitability 2.5% 2.2% 14 of 33
Net margin Profitability 2.1% 0.8% 15 of 35
Free-cash-flow margin Cash generation 4.3% 3.1% 13 of 34
Stock pay as % of revenue Cash generation 2.3% 0.7% 26 of 30
Long-term debt as % of assets Balance sheet 15.7% 14.2% 16 of 26
Change in share count Balance sheet -1.5% 0.6% 10 of 33
Days sales outstanding Balance sheet 6 days 13 days 6 of 20

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$7.9B
Institutions reporting
510
Shares held vs prior quarter
▼ 0.3%
Positions opened / closed
76 / 155

Top buyers and sellers, Q2 2026: 267 institutions bought and 310 sold ; the biggest buyer was Canada Pension Plan Investment Board (+14.9M shares) and the biggest seller Holocene Advisors, LP (−4.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Bc Partners Pe LP $3.5B 176.5M 44.2% 0.0%
Blackrock, Inc. $446M 22.7M 5.7% ▲ 4.5%
Canada Pension Plan Investment Board $396M 20.2M 5.0% ▲ 285.7%
AQR Capital Management LLC $250M 12.9M 3.2% ▼ 20.9%
Morgan Stanley $217M 11.1M 2.8% ▲ 36.3%
Vanguard Capital Management LLC $194M 9.9M 2.5% ▼ 4.7%
Vanguard Portfolio Management LLC $191M 9.7M 2.4% ▼ 3.4%
State Street Corp $149M 7.6M 1.9% ▲ 6.0%
Federated Hermes, Inc. $146M 7.4M 1.9% ▲ 137.7%
Two Sigma Investments, LP $131M 6.6M 1.7% ▲ 7.0%
Geode Capital Management, LLC $123M 6.3M 1.6% ▲ 6.0%
Neuberger Berman Group LLC $99.5M 5.1M 1.3% ▲ 29.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Chewy, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $7.3M 19 trades by 5 insiders · 96% under pre-set plans
Net ▼ $7.3M net selling
Insider Date Trade Shares Price Value
Billings William G. Chief Accounting Officer October 15, 2026 Sell pre-set plan 17,283 $21.00 $362,943
Singh Sumit Chief Executive Officer August 3, 2026 Sell pre-set plan 43,244 $23.01 $995,044
Singh Sumit Chief Executive Officer August 3, 2026 Sell pre-set plan 6,233 $23.01 $143,421
Hu Da-Wai General Counsel & Secretary June 29, 2026 Sell 4,103 $19.49 $79,967
Hu Da-Wai General Counsel & Secretary June 29, 2026 Sell 100 $19.48 $1,948
Singh Sumit Chief Executive Officer May 4, 2026 Sell pre-set plan 83,306 $25.60 $2.1M
Singh Sumit Chief Executive Officer May 4, 2026 Sell pre-set plan 4,220 $25.60 $108,032
Hu Da-Wai General Counsel & Secretary April 1, 2026 Sell 8,149 $26.91 $219,290
Deppe Christopher S. Chief Financial Officer March 2, 2026 Sell pre-set plan 3,043 $26.87 $81,765
Mehta Satish Chief Technology Officer February 2, 2026 Sell pre-set plan 13,013 $28.99 $377,247
Mehta Satish Chief Technology Officer December 3, 2025 Sell pre-set plan 8,872 $33.53 $297,478
Singh Sumit Chief Executive Officer December 2, 2025 Sell pre-set plan 639 $33.73 $21,553

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 18 trades and filings

No trades in Chewy, Inc. disclosed in the last 12 months; 18 earlier trades on record.

  • Marie Newman(D-IL 3):Sale (full), $1,001 - $15,000, traded August 13, 2021, filed September 8, 2021
  • Marie Newman(D-IL 3):Sale (full), $1,001 - $15,000, traded July 9, 2021, filed August 5, 2021
  • Marie Newman(D-IL 3):Purchase, $1,001 - $15,000, traded July 2, 2021, filed August 5, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around December 9, 2026 estimated from the company's past filing pattern, not announced

  • September 9, 2026
  • June 10, 2026
  • March 25, 2026
  • December 10, 2025
  • September 10, 2025
  • June 11, 2025

Recent SEC filings

Data status

When each part of this page on Chewy, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Chewy, Inc. in brief

What does Chewy, Inc. do?
Chewy, Inc. is a US-listed company in the other specialty retail industry. Its financial year ends in January.
What is Chewy, Inc.'s stock ticker?
Chewy, Inc. trades under the ticker CHWY on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Chewy, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Chewy, Inc. reported revenue of $13.1B, 5.9% higher than a year earlier, according to its SEC filings.
What is Chewy, Inc.'s free cash flow?
Chewy, Inc.'s free-cash-flow margin is 4.3% of revenue over the trailing twelve months, ranking 13 of the 34 other specialty retail companies we cover.
What is Chewy, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Chewy, Inc.'s free cash flow after stock-based pay gives ~$7.9 per share in the base case, and ~$6.0–$10 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Chewy, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Bc Partners Pe LP, Blackrock, Inc. and Canada Pension Plan Investment Board. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Chewy, Inc. buying back stock, and does it pay a dividend?
Chewy, Inc. spent $510M on share repurchases over the trailing twelve months, and its diluted share count fell 1.4% over the year.
What is Chewy, Inc.'s market cap?
On November 2, 2026, Chewy, Inc.'s market capitalisation was about $9.3B, with a price-to-earnings ratio of 34.1 and net debt of -$11M. Market figures come from third-party market data and may be delayed.
How much debt does Chewy, Inc. have?
Chewy, Inc.'s debt-to-equity ratio is 159.7%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Chewy, Inc.'s competitors?
In our Other Specialty Retail peer group, the companies closest to Chewy, Inc. are Ulta Beauty, Tractor Supply, Dick's Sporting Goods, Inc., Bath & Body Works, Inc. and Academy Sports & Outdoors, Inc. The side-by-side comparison below sets their revenue, margins and growth against Chewy, Inc.'s.
Are insiders buying or selling Chewy, Inc. stock?
Over the last 12 months, Chewy, Inc.'s directors and officers reported 0 open-market purchases and 19 sales on Form 4. The insider trading page charts every trade.
When is Chewy, Inc.'s next earnings date?
Around December 9, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Chewy, Inc. announces its own schedule.