What is Chewy's operating income?

Chewy's total operating income in 2025 was $254.30 million, based on the following breakdown: Total Gross Profit: $3.75 billion Total Operating Expenses: $3.50 billion

Chewy (CHWY) Financials

$17.89 -0.32 (-1.75%)

As of 09:37 AM Eastern

Compare

Annual Income Statements for Chewy

This table shows Chewy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/28/2018	2/3/2019	2/2/2020	1/31/2021	1/30/2022	1/29/2023	1/28/2024	2/2/2025	2/1/2026
Net Income / (Loss) Attributable to Common Shareholders	-338	-268	-252	-92	-75	50	40	393	223
Consolidated Net Income / (Loss)	-338	-268	-252	-92	-75	50	40	393	223
Net Income / (Loss) Continuing Operations	-338	-268	-252	-92	-75	50	40	393	223
Total Pre-Tax Income	-338	-268	-252	-92	-75	53	48	152	263
Total Operating Income	-338	-268	-253	-90	-74	56	-24	113	254
Total Gross Profit	368	715	1,144	1,821	2,385	2,834	3,162	3,468	3,754
Total Revenue	2,104	3,533	4,847	7,146	8,967	10,119	11,148	11,861	12,602
Operating Revenue	2,104	3,533	4,847	7,146	8,967	10,119	11,148	11,861	12,602
Total Cost of Revenue	1,737	2,818	3,703	5,325	6,582	7,285	7,986	8,394	8,848
Operating Cost of Revenue	1,737	2,818	3,703	5,325	6,582	7,285	7,986	8,394	8,848
Total Operating Expenses	705	983	1,397	1,911	2,459	2,778	3,185	3,355	3,500
Selling, General & Admin Expense	452	590	970	1,398	1,840	2,129	2,443	2,551	2,675
Marketing Expense	254	393	427	513	619	649	742	804	825
Total Other Income / (Expense), net	-0.21	-0.12	0.36	-2.02	-1.64	-3.88	72	39	9.00
Interest & Investment Income	-0.21	-0.12	0.36	-2.02	-1.64	9.29	72	39	9.00
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	2.65	8.70	-241	41
Basic Earnings per Share	($2.67)	($0.68)	($0.63)	($0.23)	($0.18)	$0.12	$0.09	$0.93	$0.54
Weighted Average Basic Shares Outstanding	262.20M	393M	398.26M	407.24M	417.22M	422.33M	429.40M	421.40M	414.10M
Diluted Earnings per Share	($2.67)	($0.68)	($0.63)	($0.23)	($0.18)	$0.12	$0.09	$0.91	$0.52
Weighted Average Diluted Shares Outstanding	262.20M	393M	398.26M	407.24M	417.22M	427.77M	432M	431M	425.80M
Weighted Average Basic & Diluted Shares Outstanding	262.20M	393M	398.26M	407.24M	420.48M	426.95M	434.92M	413.64M	416.68M

This table shows Chewy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	10/29/2023	1/28/2024	4/28/2024	7/28/2024	10/27/2024	2/2/2025	5/4/2025	8/3/2025	11/2/2025	2/1/2026	5/3/2026
Net Income / (Loss) Attributable to Common Shareholders	-35	32	67	299	3.90	23	62	62	59	39	95
Consolidated Net Income / (Loss)	-35	32	67	299	3.90	23	62	62	59	39	95
Net Income / (Loss) Continuing Operations	-35	32	67	299	3.90	23	62	62	59	39	95
Total Pre-Tax Income	-34	37	78	47	30	-2.70	78	74	69	42	131
Total Operating Income	-9.72	-22	65	32	26	-9.71	77	70	65	43	129
Total Gross Profit	782	798	854	844	844	926	924	942	928	960	1,011
Total Revenue	2,746	2,826	2,878	2,859	2,878	3,247	3,116	3,104	3,117	3,265	3,357
Operating Revenue	2,746	2,826	2,878	2,859	2,878	3,247	3,116	3,104	3,117	3,265	3,357
Total Cost of Revenue	1,964	2,028	2,024	2,015	2,034	2,321	2,192	2,162	2,188	2,305	2,346
Operating Cost of Revenue	1,964	2,028	2,024	2,015	2,034	2,321	2,192	2,162	2,188	2,305	2,346
Total Operating Expenses	792	820	789	812	818	936	847	873	863	917	883
Selling, General & Admin Expense	612	626	603	621	627	701	653	672	665	685	677
Marketing Expense	179	194	187	191	192	235	194	201	198	233	206
Total Other Income / (Expense), net	-24	59	14	14	3.90	7.02	1.00	4.30	4.10	-0.40	2.80
Interest & Investment Income	10	31	14	14	3.90	3.72	1.00	4.30	4.10	-0.40	2.80
Income Tax Expense	1.70	4.64	12	-253	26	-25	16	12	10	2.90	37
Basic Earnings per Share	($0.08)	$0.07	$0.15	$0.70	$0.01	$0.07	$0.15	$0.15	$0.14	$0.10	$0.23
Weighted Average Basic Shares Outstanding	430.76M	429.46M	434.90M	429.40M	414.40M	421.35M	413.70M	414.20M	414.20M	414.10M	413.80M
Diluted Earnings per Share	($0.08)	$0.07	$0.15	$0.68	$0.01	$0.07	$0.15	$0.14	$0.14	$0.09	$0.23
Weighted Average Diluted Shares Outstanding	430.76M	432.04M	436.40M	437.90M	426.60M	430.99M	425.30M	428.40M	425.50M	425.80M	419.10M
Weighted Average Basic & Diluted Shares Outstanding	431.41M	434.92M	435.91M	418.39M	408.25M	413.64M	415.21M	414.82M	415.00M	416.68M	409.42M

This table details how cash moves in and out of Chewy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/28/2018	2/3/2019	2/2/2020	1/31/2021	1/30/2022	1/29/2023	1/28/2024	2/2/2025	2/1/2026
Net Change in Cash & Equivalents	-88	20	124	351	40	-272	271	-6.40	264
Net Cash From Operating Activities	-80	-13	47	133	192	350	486	596	692
Net Cash From Continuing Operating Activities	-80	-13	47	133	192	350	486	596	692
Net Income / (Loss) Continuing Operations	-338	-268	-252	-92	-75	50	40	393	223
Consolidated Net Income / (Loss)	-338	-268	-252	-92	-75	50	40	393	223
Depreciation Expense	13	23	31	36	55	83	110	115	129
Non-Cash Adjustments To Reconcile Net Income	13	15	156	148	111	212	267	340	346
Changes in Operating Assets and Liabilities, net	227	206	113	42	100	4.52	70	-251	-6.50
Net Cash From Investing Activities	-196	32	-50	-124	-193	-616	-287	395	-152
Net Cash From Continuing Investing Activities	-196	32	-50	-124	-193	-616	-287	395	-152
Purchase of Property, Plant & Equipment	-40	-44	-49	-131	-193	-230	-143	-144	-129
Purchase of Investments	-	-	-	0.00	0.00	-544	-3,222	0.00	-41
Sale and/or Maturity of Investments	-	-	-	0.00	0.00	200	3,078	538	24
Other Investing Activities, net	-156	76	-1.23	7.05	0.00	-1.40	-0.40	0.00	-5.20
Net Cash From Financing Activities	188	1.14	127	342	41	-6.73	72	-997	-276
Net Cash From Continuing Financing Activities	188	1.14	127	342	41	-6.73	72	-997	-276
Repayment of Debt	0.00	-0.16	-1.91	-0.70	-2.45	-3.91	-0.70	-0.90	-3.10
Repurchase of Common Equity	-	-	-	-	-	0.00	0.00	-944	-264
Other Financing Activities, net	63	1.30	19	25	44	-2.83	72	-52	-9.20
Effect of Exchange Rate Changes	-	-	-	-	0.00	0.00	0.20	-0.60	0.50

This table details how cash moves in and out of Chewy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	10/29/2023	1/28/2024	4/28/2024	7/28/2024	10/27/2024	2/2/2025	5/4/2025	8/3/2025	11/2/2025	2/1/2026	5/3/2026
Net Change in Cash & Equivalents	11	132	532	-440	-188	89	21	-25	84	185	-375
Net Cash From Operating Activities	79	100	82	123	183	208	86	134	208	263	109
Net Cash From Continuing Operating Activities	79	100	82	123	183	208	86	134	208	263	108
Net Income / (Loss) Continuing Operations	-35	32	67	299	3.93	23	62	62	59	39	95
Consolidated Net Income / (Loss)	-35	32	67	299	3.93	23	62	62	59	39	95
Depreciation Expense	26	27	28	28	29	29	30	32	33	34	37
Amortization Expense	-	-	-	-	-	-	-	-	-	-	9.30
Non-Cash Adjustments To Reconcile Net Income	109	42	73	89	89	89	90	83	87	86	69
Changes in Operating Assets and Liabilities, net	-19	-1.46	-86	-293	62	67	-96	-43	29	104	-102
Net Cash From Investing Activities	-65	-50	506	-29	-32	-51	-41	-30	-57	-24	-229
Net Cash From Continuing Investing Activities	-65	-50	506	-29	-32	-51	-41	-30	-57	-24	-229
Purchase of Property, Plant & Equipment	-32	-32	-29	-32	-32	-51	-38	-28	-32	-31	-38
Acquisitions	-	-	-	-	-	-	0.00	-	-	-	-175
Purchase of Investments	-433	-2,346	-	-	-	-	0.00	-	-	-17	-21
Sale and/or Maturity of Investments	400	2,328	535	3.40	-	-	0.00	-	-	24	5.30
Other Investing Activities, net	-	-	0.00	-	-	-	-3.50	-1.70	-	-	0.00
Net Cash From Financing Activities	-2.80	83	-55	-535	-340	-67	-25	-129	-67	-55	-255
Net Cash From Continuing Financing Activities	-2.80	83	-55	-535	-340	-67	-25	-129	-67	-55	-255
Repayment of Debt	-0.13	-0.04	-0.30	-0.27	-0.20	-0.15	-3.00	-	-0.20	0.10	-1.50
Repurchase of Common Equity	-	-	0.00	-	-343	-69	-24	-130	-55	-55	-200
Other Financing Activities, net	-2.67	83	-55	-2.77	3.82	1.81	1.60	0.70	-11	-0.10	-53
Effect of Exchange Rate Changes	-	0.15	-0.10	-0.06	0.09	-0.47	0.40	0.20	-0.30	0.20	0.00

This table presents Chewy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	2/3/2019	2/2/2020	1/31/2021	1/30/2022	1/29/2023	1/28/2024	2/2/2025	2/1/2026
Total Assets	542	932	1,741	2,086	2,520	3,187	3,015	3,366
Total Current Assets	449	630	1,227	1,324	1,525	2,104	1,662	2,036
Cash & Equivalents	88	212	563	603	332	602	596	860
Short-Term Investments	-	-	-	0.00	347	532	0.90	19
Accounts Receivable	127	81	101	124	127	154	169	222
Inventories, net	221	318	513	560	678	719	837	865
Prepaid Expenses	12	19	49	37	41	97	60	70
Plant, Property, & Equipment, net	92	0.00	0.00	367	479	521	562	552
Total Noncurrent Assets	1.35	303	514	396	516	561	790	778
Goodwill	-	-	-	0.00	39	39	39	39
Intangible Assets	-	-	-	-	-	-	-	0.30
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	0.00	258	232
Other Noncurrent Operating Assets	1.35	303	514	396	477	522	493	506
Total Liabilities & Shareholders' Equity	542	932	1,741	2,086	2,520	3,187	3,015	3,366
Total Liabilities	878	1,336	1,743	2,072	2,360	2,677	2,753	2,869
Total Current Liabilities	814	1,101	1,381	1,645	1,828	2,111	2,207	2,302
Accounts Payable	503	683	778	883	1,033	1,105	1,176	1,221
Accrued Expenses	311	417	602	762	795	1,006	1,031	1,080
Total Noncurrent Liabilities	64	236	362	427	532	566	546	567
Other Noncurrent Operating Liabilities	64	236	362	427	532	566	546	567
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-336	-404	-2.00	15	160	510	262	498
Total Preferred & Common Equity	-336	-404	-2.00	15	160	510	262	498
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-336	-404	-2.00	15	160	510	262	498
Common Stock	1,256	1,440	1,935	2,026	2,176	2,486	1,844	1,857
Retained Earnings	-1,592	-1,844	-1,937	-2,011	-2,015	-1,976	-1,583	-1,360
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	0.00	-0.41	0.10	0.90

This table presents Chewy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	10/30/2022	4/30/2023	7/30/2023	10/29/2023	4/28/2024	7/28/2024	10/27/2024	5/4/2025	8/3/2025	11/2/2025	5/3/2026
Total Assets	2,491	2,738	2,904	2,936	3,201	3,102	2,958	3,060	3,119	3,295	3,304
Total Current Assets	1,521	1,734	1,854	1,883	2,126	1,753	1,616	1,712	1,782	1,928	1,838
Cash & Equivalents	378	409	457	469	1,135	694	507	616	592	675	485
Short-Term Investments	297	394	448	488	3.49	0.49	0.89	-	-	26	35
Accounts Receivable	127	152	163	161	172	201	193	200	221	216	231
Inventories, net	679	731	738	712	752	803	859	807	875	944	1,008
Prepaid Expenses	39	47	48	53	63	54	56	89	94	67	79
Plant, Property, & Equipment, net	467	475	512	515	525	526	528	561	555	554	556
Total Noncurrent Assets	504	530	538	539	550	823	814	788	782	812	909
Goodwill	-	39	39	39	39	39	39	39	39	39	113
Intangible Assets	-	-	-	-	-	-	-	-	-	-	88
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	276	276	258	258	258	232
Other Noncurrent Operating Assets	504	491	498	499	511	508	499	491	485	515	476
Total Liabilities & Shareholders' Equity	2,491	2,738	2,904	2,936	3,201	3,102	2,958	3,060	3,119	3,295	3,304
Total Liabilities	2,327	2,456	2,539	2,543	2,558	2,616	2,734	2,685	2,729	2,825	2,880
Total Current Liabilities	1,782	1,893	1,999	1,965	1,996	2,055	2,179	2,140	2,193	2,260	2,345
Accounts Payable	992	1,114	1,119	1,078	1,144	1,180	1,229	1,177	1,226	1,277	1,311
Accrued Expenses	790	780	880	886	852	875	950	963	967	983	1,033
Total Noncurrent Liabilities	545	563	540	579	562	561	555	545	536	565	535
Other Noncurrent Operating Liabilities	545	563	540	579	562	561	555	545	536	565	535
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	164	282	365	393	643	487	223	376	390	469	424
Total Preferred & Common Equity	164	282	365	393	643	487	223	376	390	469	424
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	164	282	365	393	643	487	223	376	390	469	424
Common Stock	2,132	2,222	2,285	2,349	2,552	2,096	1,828	1,896	1,848	1,868	1,689
Retained Earnings	-1,968	-1,939	-1,920	-1,956	-1,909	-1,610	-1,606	-1,521	-1,459	-1,399	-1,265
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-0.00	0.35	0.66	0.50	0.70	0.50	0.90

This table displays calculated financial ratios and metrics derived from Chewy's official financial filings.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/28/2018	2/3/2019	2/2/2020	1/31/2021	1/30/2022	1/29/2023	1/28/2024	2/2/2025	2/1/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	414,998,553.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	414,998,553.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	0.54
Growth Metrics	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	-236	-187	-177	-63	-51	54	-19	291	215
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	33.43%	-3.80%	111.49%	43.22%
Earnings before Interest and Taxes (EBIT)	-338	-268	-253	-90	-74	43	-10	117	254
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-319	-235	-222	-55	-18	127	99	231	384
Valuation Ratios	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	237	15	-114	-29	-16	86	2.92	261
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	-424	-616	-565	-588	-518	-624	-335	-381
Increase / (Decrease) in Invested Capital	0.00	-424	-192	51	-23	70	-105	289	-46
Book Value per Share	$0.00	($0.85)	($1.01)	$0.00	$0.04	$0.38	$1.19	$0.64	$1.20
Tangible Book Value per Share	$0.00	($0.85)	($1.01)	$0.00	$0.04	$0.29	$1.10	$0.54	$1.10
Total Capital	0.00	-336	-404	-2.00	15	160	510	261	498
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	0.00	-88	-212	-563	-603	-679	-1,134	-597	-879
Capital Expenditures (CapEx)	40	44	49	131	193	230	143	144	129
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-454	-683	-717	-924	-982	-1,141	-1,141	-1,145
Debt-free Net Working Capital (DFNWC)	0.00	-365	-471	-154	-321	-303	-6.53	-544	-266
Net Working Capital (NWC)	0.00	-365	-471	-154	-321	-303	-6.53	-544	-266
Net Nonoperating Expense (NNE)	102	80	75	29	24	3.68	-59	-101	-7.62
Net Nonoperating Obligations (NNO)	0.00	-88	-212	-563	-603	-679	-1,134	-597	-879
Total Depreciation and Amortization (D&A)	19	33	31	36	55	83	110	115	129
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($2.67)	($0.68)	($0.63)	($0.23)	($0.18)	$0.12	$0.09	$0.93	$0.54
Adjusted Weighted Average Basic Shares Outstanding	262.20M	393M	401.40M	415.26M	417.22M	422.33M	429.46M	421.35M	414.10M
Adjusted Diluted Earnings per Share	($2.67)	($0.68)	($0.63)	($0.23)	($0.18)	$0.12	$0.09	$0.91	$0.52
Adjusted Weighted Average Diluted Shares Outstanding	262.20M	393M	401.40M	415.26M	417.22M	427.77M	432.04M	430.99M	425.80M
Adjusted Basic & Diluted Earnings per Share	($2.67)	($0.68)	($0.63)	($0.23)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	262.20M	393M	398.26M	407.24M	420.48M	426.95M	434.92M	413.64M	416.68M
Normalized Net Operating Profit after Tax (NOPAT)	-236	-187	-177	-63	-51	54	-19	79	215
Debt Service Ratios	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Chewy's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	10/29/2023	1/28/2024	4/28/2024	7/28/2024	10/27/2024	2/2/2025	5/4/2025	8/3/2025	11/2/2025	2/1/2026	5/3/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	414,998,553.00	416,676,964.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	414,998,553.00	416,676,964.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.09	0.23
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.44%	3.61%	3.12%	2.63%	4.80%	14.91%	8.28%	8.59%	8.31%	-	7.74%
EBITDA Growth	-181.04%	25.50%	105.29%	53.59%	398.22%	-30.33%	15.44%	67.99%	79.82%	-	63.52%
EBIT Growth	-10,001.61%	59.76%	302.99%	166.96%	158.38%	-224.88%	19.04%	117.13%	154.69%	-	67.10%
NOPAT Growth	-1,467.58%	-262.89%	132.75%	1,417.10%	150.22%	64.57%	11.75%	-71.72%	1,545.71%	-	50.62%
Net Income Growth	-1,630.59%	370.92%	192.65%	1,380.26%	111.12%	-28.52%	-6.73%	-79.27%	1,417.95%	-	51.92%
EPS Growth	-900.00%	250.00%	200.00%	1,260.00%	112.50%	0.00%	0.00%	-79.41%	1,300.00%	-	53.33%
Operating Cash Flow Growth	-32.40%	-1.20%	-44.90%	-22.18%	131.13%	108.46%	5.49%	8.51%	13.30%	-	25.58%
Free Cash Flow Firm Growth	130.71%	248.11%	1,891.01%	-453.90%	-699.07%	-442.39%	-753.13%	141.31%	101.34%	-	72.97%
Invested Capital Growth	-10.36%	-20.35%	4.92%	61.50%	49.63%	46.26%	51.37%	3.03%	18.30%	-	60.17%
Revenue Q/Q Growth	-1.42%	2.91%	1.30%	-0.67%	0.67%	12.85%	-4.05%	-0.38%	0.40%	-	2.83%
EBITDA Q/Q Growth	-145.30%	278.03%	167.51%	-32.45%	-12.04%	-58.41%	370.90%	-4.77%	-3.73%	-	127.31%
EBIT Q/Q Growth	-448.41%	111.73%	833.58%	-47.40%	-23.80%	-125.08%	1,297.82%	-9.36%	-6.46%	-	202.35%
NOPAT Q/Q Growth	56.53%	-182.06%	409.47%	273.74%	-98.34%	-298.97%	1,006.08%	-5.20%	-4.62%	-	134.45%
Net Income Q/Q Growth	-275.05%	190.14%	99.19%	347.13%	-98.69%	479.65%	173.78%	-0.64%	-4.52%	-	141.84%
EPS Q/Q Growth	-260.00%	187.50%	87.50%	353.33%	-98.53%	600.00%	114.29%	-6.67%	0.00%	-	155.56%
Operating Cash Flow Q/Q Growth	-49.94%	25.41%	-17.11%	50.62%	48.66%	13.11%	-58.36%	54.98%	55.27%	-	-58.81%
Free Cash Flow Firm Q/Q Growth	29.14%	86.91%	-66.29%	-528.09%	-118.61%	-6.82%	34.72%	127.02%	-92.90%	-	-161.12%
Invested Capital Q/Q Growth	-4.29%	-10.60%	20.61%	57.96%	-36.45%	-17.99%	28.16%	16.15%	-14.96%	-	74.82%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	28.47%	28.24%	29.68%	29.52%	29.33%	28.52%	29.65%	30.35%	29.78%	-	30.13%
EBITDA Margin	-0.67%	1.15%	3.19%	2.17%	1.90%	0.70%	3.43%	3.28%	3.14%	-	5.21%
Operating Margin	-0.35%	-0.78%	2.25%	1.12%	0.89%	-0.30%	2.47%	2.25%	2.09%	-	3.83%
EBIT Margin	-1.60%	0.18%	2.22%	1.18%	0.89%	-0.20%	2.47%	2.25%	2.09%	-	3.83%
Profit (Net Income) Margin	-1.29%	1.13%	2.32%	10.46%	0.14%	0.70%	2.00%	2.00%	1.90%	-	2.82%
Tax Burden Percent	105.06%	87.30%	85.35%	643.08%	13.33%	-845.09%	80.10%	83.78%	85.43%	-	72.20%
Interest Burden Percent	76.80%	710.46%	122.74%	138.46%	115.24%	42.01%	101.30%	106.17%	106.29%	-	102.18%
Effective Tax Rate	0.00%	12.70%	14.65%	-543.08%	86.67%	0.00%	19.90%	16.22%	14.57%	-	27.80%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Return on Equity (ROE)	5.19%	11.81%	18.07%	85.16%	130.34%	101.78%	76.24%	34.48%	59.59%	-	63.82%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Return on Assets (OROA)	-6.50%	0.71%	8.39%	4.42%	3.45%	-0.76%	9.54%	8.91%	8.42%	-	15.45%
Return on Assets (ROA)	-5.24%	4.41%	8.79%	39.40%	0.53%	2.68%	7.74%	7.93%	7.65%	-	11.40%
Return on Common Equity (ROCE)	5.19%	11.81%	18.07%	85.16%	130.34%	101.78%	76.24%	34.48%	59.59%	-	63.82%
Return on Equity Simple (ROE_SIMPLE)	3.68%	0.00%	13.01%	74.48%	179.85%	0.00%	103.36%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	-6.80	-19	55	206	3.42	-6.80	62	58	56	40	93
NOPAT Margin	-0.25%	-0.68%	1.92%	7.21%	0.12%	-0.21%	1.98%	1.88%	1.79%	-	2.76%
Net Nonoperating Expense Percent (NNEP)	-3.50%	5.64%	1.21%	11.62%	0.07%	3.42%	0.09%	0.56%	0.58%	-	0.36%
Return On Investment Capital (ROIC_SIMPLE)	-	-3.76%	-	-	-	-2.60%	16.40%	14.98%	11.87%	7.95%	21.87%
Cost of Revenue to Revenue	71.53%	71.76%	70.32%	70.48%	70.67%	71.48%	70.35%	69.65%	70.22%	-	69.87%
SG&A Expenses to Revenue	22.30%	22.15%	20.94%	21.73%	21.77%	21.58%	20.96%	21.64%	21.34%	-	20.16%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	28.83%	29.02%	27.43%	28.40%	28.43%	28.81%	27.18%	28.11%	27.69%	-	26.30%
Earnings before Interest and Taxes (EBIT)	-44	5.14	64	34	26	-6.42	77	70	65	43	129
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-18	33	92	62	55	23	107	102	98	77	175
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	19.72	16.39	10.72	22.42	50.47	60.86	40.37	38.24	29.80	-	25.09
Price to Tangible Book Value (P/TBV)	21.92	17.76	11.42	24.40	61.29	71.68	45.10	42.54	32.53	-	47.79
Price to Revenue (P/Rev)	0.70	0.75	0.61	0.97	0.99	1.34	1.25	1.21	1.11	-	0.83
Price to Earnings (P/E)	536.09	211.23	82.39	30.11	28.06	40.52	39.06	98.65	67.76	-	41.70
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Earnings Yield	0.19%	0.47%	1.21%	3.32%	3.56%	2.47%	2.56%	1.01%	1.48%	-	2.40%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Enterprise Value to Revenue (EV/Rev)	0.62	0.65	0.51	0.90	0.94	1.29	1.20	1.16	1.06	-	0.79
Enterprise Value to EBITDA (EV/EBITDA)	73.25	72.69	39.25	60.77	44.67	66.25	60.25	50.66	40.74	-	22.89
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	152.38	173.96	84.00	131.33	116.49	88.12	65.75	-	33.09
Enterprise Value to NOPAT (EV/NOPAT)	673.38	0.00	434.68	55.44	51.00	52.55	45.36	104.19	69.58	-	41.06
Enterprise Value to Operating Cash Flow (EV/OCF)	13.95	14.86	13.71	26.60	22.05	25.69	24.21	23.42	20.90	-	14.18
Enterprise Value to Free Cash Flow (EV/FCFF)	107.81	83.96	0.00	0.00	0.00	5,239.50	219.47	109.19	95.63	-	99.63
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Financial Leverage	-2.93	-2.70	-2.10	-1.88	-2.38	-2.24	-1.72	-1.47	-1.75	-	-1.42
Leverage Ratio	9.74	8.51	6.42	7.06	9.56	8.04	6.15	7.10	9.02	-	7.96
Compound Leverage Factor	7.48	60.47	7.88	9.77	11.02	3.38	6.23	7.53	9.59	-	8.13
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	-	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Altman Z-Score	4.58	4.51	4.41	5.34	5.38	6.44	6.56	6.50	6.14	-	5.51
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.96	1.00	1.07	0.85	0.74	0.75	0.80	0.81	0.85	-	0.78
Quick Ratio	0.57	0.61	0.66	0.44	0.32	0.35	0.38	0.37	0.41	-	0.32
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	46	86	30	-126	-277	-295	-193	52	3.70	85	-52
Operating Cash Flow to CapEx	250.52%	307.43%	279.66%	386.55%	578.84%	407.61%	229.18%	478.21%	647.66%	-	287.80%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	4.07	3.91	3.78	3.77	3.88	3.83	3.86	3.97	4.03	-	4.04
Accounts Receivable Turnover	76.75	79.34	69.37	62.19	64.60	73.43	65.02	58.48	61.51	-	59.54
Inventory Turnover	11.39	11.43	10.80	10.42	10.31	10.79	10.98	10.38	9.84	-	9.92
Fixed Asset Turnover	22.51	22.29	22.48	21.79	21.95	21.89	22.29	22.85	23.26	-	23.00
Accounts Payable Turnover	7.65	7.47	7.10	6.99	7.02	7.36	7.38	7.24	7.07	-	7.24
Days Sales Outstanding (DSO)	4.76	4.60	5.26	5.87	5.65	4.97	5.61	6.24	5.93	-	6.13
Days Inventory Outstanding (DIO)	32.05	31.93	33.80	35.03	35.39	33.83	33.23	35.16	37.11	-	36.80
Days Payable Outstanding (DPO)	47.69	48.86	51.42	52.25	51.99	49.59	49.47	50.41	51.59	-	50.45
Cash Conversion Cycle (CCC)	-10.89	-12.33	-12.37	-11.35	-10.95	-10.79	-10.62	-9.01	-8.55	-	-7.52
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-564	-624	-495	-208	-284	-335	-241	-202	-232	-381	-96
Invested Capital Turnover	-20.56	-19.52	-22.12	-30.20	-26.98	-24.74	-32.88	-60.21	-48.76	-	-76.29
Increase / (Decrease) in Invested Capital	-53	-105	26	333	280	289	254	6.30	52	-46	145
Enterprise Value (EV)	6,797	7,227	5,751	10,220	10,768	15,317	14,548	14,318	13,286	-	10,122
Market Capitalization	7,755	8,361	6,889	10,915	11,275	15,913	15,164	14,910	13,988	-	10,642
Book Value per Share	$0.91	$1.19	$1.48	$1.12	$0.53	$0.64	$0.91	$0.94	$1.13	$1.20	$1.02
Tangible Book Value per Share	$0.82	$1.10	$1.39	$1.03	$0.44	$0.54	$0.81	$0.84	$1.04	$1.10	$0.53
Total Capital	393	510	643	487	223	261	376	390	469	498	424
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-957	-1,134	-1,138	-695	-508	-597	-616	-592	-702	-879	-520
Capital Expenditures (CapEx)	32	32	29	32	32	51	38	28	32	31	38
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,039	-1,141	-1,008	-997	-1,071	-1,141	-1,045	-1,003	-1,033	-1,145	-1,027
Debt-free Net Working Capital (DFNWC)	-82	-6.53	130	-302	-564	-544	-428	-411	-332	-266	-506
Net Working Capital (NWC)	-82	-6.53	130	-302	-564	-544	-428	-411	-332	-266	-506
Net Nonoperating Expense (NNE)	29	-51	-12	-93	-0.52	-30	-0.80	-3.60	-3.50	0.37	-2.02
Net Nonoperating Obligations (NNO)	-957	-1,134	-1,138	-695	-508	-597	-616	-592	-702	-879	-520
Total Depreciation and Amortization (D&A)	26	27	28	28	29	29	30	32	33	34	46
Debt-free, Cash-free Net Working Capital to Revenue	-9.40%	-10.23%	-8.97%	-8.82%	-9.36%	-9.62%	-8.64%	-8.13%	-8.21%	-	-7.99%
Debt-free Net Working Capital to Revenue	-0.74%	-0.06%	1.16%	-2.67%	-4.93%	-4.59%	-3.54%	-3.33%	-2.64%	-	-3.94%
Net Working Capital to Revenue	-0.74%	-0.06%	1.16%	-2.67%	-4.93%	-4.59%	-3.54%	-3.33%	-2.64%	-	-3.94%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.08)	$0.07	$0.15	$0.70	$0.01	$0.07	$0.15	$0.15	$0.14	$0.10	$0.23
Adjusted Weighted Average Basic Shares Outstanding	430.76M	429.46M	434.87M	429.38M	414.36M	421.35M	413.70M	414.20M	414.20M	414.10M	413.80M
Adjusted Diluted Earnings per Share	($0.08)	$0.07	$0.15	$0.68	$0.01	$0.07	$0.15	$0.14	$0.14	$0.09	$0.23
Adjusted Weighted Average Diluted Shares Outstanding	430.76M	432.04M	436.42M	437.88M	426.57M	430.99M	425.30M	428.40M	425.50M	425.80M	419.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	431.41M	434.92M	435.91M	418.39M	408.25M	413.64M	415.21M	414.82M	415.00M	416.68M	409.42M
Normalized Net Operating Profit after Tax (NOPAT)	-6.80	-19	55	22	18	-6.80	62	58	56	40	93
Normalized NOPAT Margin	-0.25%	-0.68%	1.92%	0.78%	0.62%	-0.21%	1.98%	1.88%	1.79%	-	2.76%
Pre Tax Income Margin	-1.23%	1.29%	2.72%	1.63%	1.03%	-0.08%	2.50%	2.38%	2.22%	-	3.91%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	240.34%	249.21%	373.97%	134.33%	-	172.45%

Financials Breakdown Chart

Key Financial Trends

Chewy (CHWY) has shown a pattern of steady top-line activity with improving profitability and cash flow in 2025, while maintaining a conservative balance sheet stance. Here are the key takeaways based on the last four years of quarterly statements.

Q4 2025 revenue was $3,264.7 million, up modestly from Q4 2024 ($3,247.0 million), indicating ongoing top-line resilience.
Gross margin remained solid around the high-20s to low-30s range, with Q4 2025 gross profit of $959.7 million on $3,264.7 million revenue (about 29% gross margin).
Operating income turned positive across several 2025 quarters (e.g., Q4 2025: $42.5 million; Q3 2025: $65.2 million), signaling improving operating efficiency.
Net income attributable to common shareholders was positive in multiple 2025 quarters (Q3 2025: $59.2 million; Q4 2025: $39.2 million), with per-share results showing ongoing profitability (Q3 2025 basic EPS $0.14; Q4 2025 basic EPS $0.10).
Cash flow from continuing operating activities was strong in late-2025 (Q4 2025: $263.4 million; Q3 2025: $207.9 million; Q2 2025: $133.9 million), evidencing healthy cash generation from core operations.
Free cash flow in Q4 2025 was solid (roughly $232 million), calculated as CFO $263.4 million minus PPE purchases of about $31.4 million, underscoring robust cash available after capital spending.
Cash on hand remained ample, with cash & equivalents around $675 million in Q3 2025 and generally in the $600–700 million band across 2025, providing liquidity to weather variability.
Capex is modest and steadily managed, with quarterly investments in property, plant & equipment typically in the $20–40 million range, supporting ongoing infrastructure without stressing liquidity.
Net income margins have been thin (for example, Q4 2025 net income of $39.2 million on $3,264.7 million revenue is roughly 1.2%), indicating limited profitability per dollar of sales despite positive earnings in several quarters.
Chewy carries a sizable negative retained earnings balance (e.g., Q3 2025 Retained Earnings around -$1.399 billion), reflecting a history of losses that remain to be offset by future gains, which can cap upside unless profitability fully compounds.

Additional context to watch going forward:

Chewy’s overall balance sheet shows a large current liabilities base (Total Current Liabilities around $2.26 billion in Q3 2025) versus Total Current Assets about $1.93 billion, implying working-capital pressures if operating cash flow slows. The company also maintains a sizable total assets base (~$3.29 billion in Q3 2025) and a relatively small equity cushion (Total Equity around $469 million) due to accumulated deficits, which means near-term leverage and liquidity dynamics may hinge on continued cash generation and disciplined capital allocation. Finally, stock buybacks were a notable part of 2025 cash outflows (for example, roughly $55 million in Q4 2025 and larger earlier buybacks in 2025), signaling an active capital allocation stance that could impact per-share metrics going forward.

06/22/26 09:35 AM ETAI Generated. May Contain Errors.

Chewy Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Chewy's financial year ends in February. Their financial year 2026 ended on February 1, 2026.

Chewy's net income appears to be on a downward trend, with a most recent value of $222.80 million in 2025, falling from -$338.06 million in 2017. The previous period was $392.70 million in 2024. Find out what analysts predict for Chewy in the coming months.

Chewy's total operating income in 2025 was $254.30 million, based on the following breakdown:

Total Gross Profit: $3.75 billion
Total Operating Expenses: $3.50 billion

Over the last 8 years, Chewy's total revenue changed from $2.10 billion in 2017 to $12.60 billion in 2025, a change of 498.8%.

Chewy's total liabilities were at $2.87 billion at the end of 2025, a 4.2% increase from 2024, and a 226.9% increase since 2018.

In the past 7 years, Chewy's cash and equivalents has ranged from $88.33 million in 2018 to $860.10 million in 2025, and is currently $860.10 million as of their latest financial filing in 2025.

Over the last 8 years, Chewy's book value per share changed from 0.00 in 2017 to 1.20 in 2025, a change of 120.0%.

Related Companies

Financial statements for NYSE:CHWY last updated on 6/11/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Chewy (CHWY) Financials

Financials Breakdown Chart

Key Financial Trends

Chewy Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Chewy (CHWY) Financials

Annual Income Statements for Chewy

Quarterly Income Statements for Chewy

Annual Cash Flow Statements for Chewy

Quarterly Cash Flow Statements for Chewy

Annual Balance Sheets for Chewy

Quarterly Balance Sheets for Chewy

Annual Metrics And Ratios for Chewy

Quarterly Metrics And Ratios for Chewy

Financials Breakdown Chart

Key Financial Trends

Chewy Financials - Frequently Asked Questions

When does Chewy's fiscal year end?

How has Chewy's net income changed over the last 8 years?

What is Chewy's operating income?

How has Chewy's revenue changed over the last 8 years?

How much debt does Chewy have?

How much cash does Chewy have?

How has Chewy's book value per share changed over the last 8 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools