Chewy, Inc.
- Open
- 21.40
- Day high
- 21.68
- Day low
- 20.91
- Prev close
- 21.53
- Volume
- 3.5M
- Mkt cap
- $8.7B
- P/E (TTM)
- 44.5
- EPS (TTM)
- $0.47
- P/B
- 20.6
- P/S
- 0.7
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$2.3M over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions accumulating (13F)
Chewy, Inc. (CHWY) is a Consumer Cyclical company listed on NYSE. The stock is down 47% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
Chewy, Inc. (CHWY) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 14 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CHWY earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 10, 2026 | $0.24 | $0.23 | -5.6% | $3.4B | +0.2% |
| Mar 25, 2026 | $0.09 | $0.09 | -2.5% | $3.3B | -0.0% |
| Dec 10, 2025 | $0.12 | $0.32 | +156.4% | $3.1B | +0.6% |
| Sep 10, 2025 | $0.14 | $0.33 | +131.3% | $3.1B | +0.8% |
| Jun 11, 2025 | $0.17 | $0.35 | +109.8% | $3.1B | +1.2% |
| Mar 26, 2025 | $0.03 | $0.28 | +919.3% | $3.2B | +1.6% |
| Dec 4, 2024 | $0.08 | $0.20 | +150.0% | $2.9B | +0.7% |
| Aug 28, 2024 | $0.07 | $0.24 | +257.1% | $2.9B | +0.0% |
| May 29, 2024 | $0.13 | $0.31 | +135.9% | $2.9B | +0.9% |
| Mar 20, 2024 | $0.10 | $0.18 | +80.0% | $2.8B | +1.9% |
| Dec 6, 2023 | $0.09 | $0.15 | +66.7% | $2.7B | -1.8% |
| Aug 30, 2023 | $0.11 | $0.15 | +36.4% | $2.8B | +0.6% |
CHWY insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 30, 2026 | Hu Da-Waiofficer: General Counsel & Secretary | Sell | 4,103 | $19.49 |
| Jun 30, 2026 | Hu Da-Waiofficer: General Counsel & Secretary | Sell | 100 | $19.48 |
| Jun 3, 2026 | Hu Da-Waiofficer: General Counsel & Secretary | Tax | 445 | $22.54 |
| Jun 3, 2026 | Singh Sumitdirector, officer: Chief Executive Officer | Tax | 7,567 | $22.54 |
| Jun 3, 2026 | Singh Sumitdirector, officer: Chief Executive Officer | Tax | 1,273 | $22.54 |
| Jun 3, 2026 | Deppe Christopher S.officer: Chief Financial Officer | Tax | 182 | $22.54 |
| Jun 3, 2026 | Billings William G.officer: Chief Accounting Officer | Tax | 625 | $22.54 |
| May 5, 2026 | Billings William G.officer: Chief Accounting Officer | Tax | 1,064 | $25.42 |
| May 5, 2026 | Singh Sumitdirector, officer: Chief Executive Officer | Tax | 15,462 | $25.42 |
| May 5, 2026 | Singh Sumitdirector, officer: Chief Executive Officer | Tax | 2,172 | $25.42 |
| May 5, 2026 | Deppe Christopher S.officer: Chief Financial Officer | Tax | 2,857 | $25.42 |
| May 5, 2026 | Singh Sumitdirector, officer: Chief Executive Officer | Sell | 4,220 | $25.60 |
| May 5, 2026 | Singh Sumitdirector, officer: Chief Executive Officer | Sell | 83,306 | $25.60 |
| May 5, 2026 | Hu Da-Waiofficer: General Counsel & Secretary | Tax | 909 | $25.42 |
| Apr 10, 2026 | Deppe Christopher S.officer: Chief Financial Officer | Grant | 5,922 | — |
Source: CHWY SEC Form 4 filings, latest Jun 30, 2026. For informational purposes only — not investment advice.
See the full CHWY insider & 13F page →Chewy, Inc. company profile
Overview
Chewy, Inc. (NYSE:CHWY) is a leading pure-play e-commerce company specializing in pet products and services. Founded in 2010 and headquartered in Dania Beach, Florida, Chewy went public in June 2019. The company has established itself as the dominant online retailer in the pet industry, serving millions of pet owners across the United States with a comprehensive selection of pet food, supplies, medications, and health services. Since its founding, Chewy has grown from a startup to a multi-billion dollar enterprise, consistently gaining market share in the expanding pet care industry through its customer-centric approach and subscription-based Autoship program.
Business
Chewy operates as a pure-play e-commerce platform focused exclusively on pet products and services. The company serves as a comprehensive one-stop destination for pet owners, offering approximately 100,000 products from over 3,000 partner brands through its website and mobile applications. The company's core business segments include: 1. **Pet Food and Treats** - This represents the largest category, comprising both premium and everyday pet food brands for dogs, cats, and other pets. This segment benefits from high purchase frequency and customer loyalty, as pet owners typically maintain consistent feeding routines. 2. **Pet Supplies and Hard Goods** - Including toys, beds, carriers, grooming supplies, and other pet accessories. While this category has lower purchase frequency than food, it offers higher margins and helps drive cross-selling opportunities. 3. **Pet Medications and Health Products** - Prescription and over-the-counter medications, supplements, and health-related products. This segment represents a high-growth, high-margin opportunity as pet healthcare spending continues to increase. 4. **Pet Services** - Including Chewy Vet Care clinics, telehealth consultations, insurance products through CarePlus, and other health-related services. This newer segment aims to create a comprehensive pet healthcare ecosystem. The company's Autoship subscription program is central to its business model, allowing customers to schedule automatic deliveries of pet essentials. Autoship sales represented approximately 80% of total net sales in recent quarters, providing predictable recurring revenue and higher customer lifetime value. The pet industry benefits from non-discretionary spending patterns, as pet owners consistently prioritize their pets' basic needs regardless of economic conditions.
Revenue model
Chewy generates revenue primarily through product sales with multiple complementary revenue streams. The core business model revolves around selling pet products at markup from wholesale costs, with gross margins typically around 28-30%. The company's paying customers are individual pet owners who purchase directly through the website or mobile app. The Autoship subscription program drives the majority of revenue, representing over 80% of net sales. This model provides predictable recurring revenue while offering customers convenience and modest discounts. Autoship customers typically have higher lifetime value and lower churn rates compared to one-time purchasers. **Emerging Revenue Streams:** 1. **Sponsored Ads** - Chewy monetizes its platform by allowing pet product brands to advertise their products, currently generating approximately 1% of net sales with potential to reach 3% long-term. 2. **Healthcare Services** - Through Chewy Vet Care clinics and telehealth services, the company charges service fees for veterinary consultations and procedures. 3. **Insurance and Wellness Programs** - CarePlus insurance products generate commission revenue from policy sales. **Margin Influencing Factors:** Factors that increase margins include automation of fulfillment centers, growth in higher-margin categories like healthcare and private label products, and expansion of sponsored ads revenue. The company benefits from economies of scale in shipping and procurement as it grows. Factors that decrease margins include commodity price inflation affecting pet food costs, increased shipping expenses, competitive pricing pressure, and investments in new growth initiatives like veterinary clinics. The company's margins are also sensitive to the mix between consumables (lower margin, high frequency) and hard goods (higher margin, lower frequency).
Competitive moat
Chewy's competitive moat is moderately strong but faces several challenges. The company's primary advantages stem from its scale, customer relationships, and specialized focus on the pet category. **Key Moat Elements:** The company benefits from significant scale advantages in logistics and procurement, operating a network of automated fulfillment centers that enable efficient nationwide shipping of bulky pet products. Its Autoship program creates customer switching costs through convenience and habit formation, while the comprehensive product selection and pet-focused customer service build customer loyalty. Chewy's data and personalization capabilities allow for targeted marketing and product recommendations based on pet profiles and purchase history. The expanding healthcare ecosystem, including vet clinics and telehealth services, creates additional switching costs and deepens customer relationships beyond simple product transactions. **Competitive Threats:** The moat faces pressure from several directions. Amazon represents the most significant threat, leveraging its Prime membership, logistics network, and vast resources to compete aggressively in pet products. Traditional retailers like PetSmart and Petco are strengthening their omnichannel capabilities, combining online convenience with physical store presence. **Vulnerability Assessment:** Chewy's moat is somewhat narrow because pet products are largely commoditized, and the company doesn't manufacture most of what it sells. While customer loyalty exists, it's primarily driven by convenience rather than unique products. The company's success depends heavily on execution excellence in logistics, customer service, and marketing rather than structural competitive advantages. New entrants with sufficient capital could potentially replicate Chewy's model, though the required scale and operational complexity create meaningful barriers to entry.
Risks & safety
Chewy presents a **moderate margin of safety** with some financial strength but elevated valuation metrics. **Financial Stability:** - Cash position: $596 million in cash and short-term investments provides reasonable liquidity buffer - Debt level: Debt-to-equity ratio of 1.92 indicates moderate leverage but manageable given cash flow generation - Cash flow: Strong free cash flow of $453 million annually demonstrates operational efficiency - Solvency risk: Low near-term solvency risk given positive cash generation and adequate liquidity **Valuation Concerns:** - EV/EBITDA: 142.5x represents extremely high valuation multiple, indicating significant premium pricing - Price-to-book: 59.5x suggests substantial premium to book value - Current ratio: 0.75 indicates working capital constraints, though typical for retail operations - Graham metrics: Negative Graham net-net value indicates stock trades well above conservative valuation benchmarks **Other Considerations:** - Business model generates predictable cash flows through Autoship subscriptions - Market leadership position provides some defensive characteristics - Growth trajectory and margin expansion potential may justify premium valuation - Exposure to consumer discretionary spending creates cyclical risk
Recent development
Over the past few years, Chewy has executed several strategic initiatives to diversify beyond pure e-commerce and build a comprehensive pet care ecosystem. The most significant development has been the launch of Chewy Vet Care clinics, with 8 locations opened in 2024 and plans for 8-10 additional clinics in 2025. These clinics serve as customer acquisition channels while providing higher-margin healthcare services. The company has also launched Chewy+, a paid membership program designed to increase customer engagement and cross-category purchasing. Early results show promising adoption rates and higher spending among members. Additionally, Chewy has significantly expanded its sponsored ads business, reaching approximately 1% of net sales in 2024 with potential to grow to 3% long-term. **Technology and Platform Improvements:** Chewy has invested heavily in mobile app development, with app-based orders growing 15% year-over-year. The company completed migration to a first-party platform for sponsored ads, enabling better targeting and measurement capabilities. Automation initiatives continue across fulfillment centers, though less than half of volume currently ships through automated facilities. **Geographic and Market Expansion:** The company has expanded into the Canadian market and continues to evaluate international opportunities. Within the U.S., Chewy has focused on gaining market share in the growing pet healthcare segment through telehealth services, prescription medications, and insurance products. **Capital Allocation Strategy:** Chewy initiated its first share repurchase program in 2024, returning $943 million to shareholders while maintaining investments in growth initiatives. The company has balanced growth investments with profitability improvements, achieving adjusted EBITDA margin expansion to 4.8% in 2024 while targeting long-term margins of 10%.
CHWY company profile · for informational purposes only — not investment advice.
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