Chewy, Inc. CHWY
Chewy, Inc. began operating as Chewy.com in 2011 and Chewy.com, LLC was formed as a Delaware limited liability company in October 2013. On March 16, 2016, Chewy.com, LLC converted from a Delaware limited liability company to a Delaware corporation and changed its name to Chewy, Inc. Chewy, Inc. completed the initial public offering of its Class A common stock, par value $0.01 per share (the "Class A common stock"), on June 18, 2019. Unless the context requires otherwise, references in this Annual Report on Form 10-K to "Chewy," the "Company," "we," "our," or "us" refer to Chewy, Inc. and its consolidated subsidiaries.
Our mission is to be the most trusted and convenient destination for pet parents and partners everywhere. We believe that we are the preeminent online source for pet products, supplies and prescriptions as a result of our broad selection of high-quality products and services, which we offer at competitive prices and deliver with an exceptional level of care and a personal touch to build brand loyalty and drive repeat purchasing. We seek to continually develop innovative ways for our customers to engage with us, as our websites and mobile applications allow our pet parents to manage their pets' health, wellness, and merchandise needs, while enabling them to conveniently shop for our products. We partner with approximately 4,000 of the best and most trusted brands in the pet industry, and we create and offer our own private brands. Through our websites and mobile applications, we offer our customers approximately 190,000 products and services offerings, to bring what we believe is a high-bar, customer-centric experience to our customers. By leveraging our extensive supply chain infrastructure consisting of fulfillment centers located in the U.S. and Canada, we are typically able to offer our products in a localized manner with the capability to serve over 80% of the U.S. population overnight and almost 100% in two days.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.60B | $11.86B | $11.15B | $10.12B | $8.97B | $7.15B | $4.85B | $3.53B | $2.10B | — |
| Cost of revenue | $8.85B | $8.39B | $7.99B | $7.28B | $6.58B | $5.33B | $3.70B | $2.82B | $1.74B | — |
| Gross profit | $3.75B | $3.47B | $3.16B | $2.83B | $2.39B | $1.82B | $1.14B | $714.8M | $367.6M | — |
| SG&A | $2.67B | $2.55B | $2.44B | $2.13B | $1.84B | $1.40B | $969.9M | $589.5M | $451.7M | — |
| Total operating expenses | $3.50B | $3.36B | $3.19B | $2.78B | $2.46B | $1.91B | $1.40B | $982.6M | $705.4M | — |
| Operating income | $254.3M | $112.6M | -$23.6M | $56.4M | -$73.6M | -$90.5M | -$252.7M | -$267.8M | -$337.9M | — |
| Interest expense | $4.6M | $5.5M | $3.6M | $2.6M | $2.2M | $2.2M | — | — | — | — |
| Pre-tax income | $263.3M | $151.7M | $48.3M | $52.5M | -$75.2M | -$92.5M | -$252.4M | -$267.9M | -$338.1M | — |
| Income tax | $40.5M | $241.0M | $8.7M | $2.6M | $0 | $0 | $0 | $0 | $0 | — |
| Net income | $222.8M | $392.7M | $39.6M | $49.9M | -$75.2M | -$92.5M | -$252.4M | -$267.9M | -$338.1M | — |
| EPS, basic | 0.54 | 0.93 | 0.09 | 0.12 | -0.18 | -0.23 | -0.63 | — | — | — |
| EPS, diluted | 0.52 | 0.91 | 0.09 | 0.12 | -0.18 | -0.23 | -0.63 | -0.68 | -2.67 | — |
| Shares, diluted (wtd. avg.) | $425.8M | $431.0M | $432.0M | $427.8M | $417.2M | $407.2M | $398.3M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $860.1M | $595.8M | $602.2M | $331.6M | $604.1M | $564.4M | $212.1M | $88.3M | $68.8M | $156.5M |
| Short-term investments | $18.7M | $900.0K | $531.8M | $346.9M | $0 | — | — | — | — | — |
| Receivables | $222.2M | $169.0M | $154.0M | $127.0M | $123.5M | $100.7M | $80.5M | $48.7M | — | — |
| Inventory | $864.8M | $836.7M | $719.3M | $678.0M | $560.4M | $513.3M | $317.8M | $220.9M | — | — |
| Total current assets | $2.04B | $1.66B | $2.10B | $1.52B | $1.32B | $1.23B | $629.8M | $448.6M | — | — |
| Property, plant and equipment | — | — | — | — | — | — | $118.7M | $91.7M | — | — |
| Goodwill | $39.4M | $39.4M | $39.4M | $39.4M | $0 | — | — | — | — | — |
| Other intangibles | — | $378.0K | $4.0M | $7.8M | — | — | — | — | — | — |
| Total assets | $3.37B | $3.01B | $3.19B | $2.52B | $2.09B | $1.74B | $932.3M | $541.6M | — | — |
| Total current liabilities | $2.30B | $2.21B | $2.11B | $1.83B | $1.64B | $1.38B | $1.10B | $814.0M | — | — |
| Total liabilities | $2.87B | $2.75B | $2.68B | $2.36B | $2.07B | $1.74B | $1.34B | $877.6M | — | — |
| Retained earnings | -$1.36B | -$1.58B | -$1.98B | -$2.02B | -$2.01B | -$1.94B | -$1.84B | -$1.59B | — | — |
| Total equity | $497.9M | $261.5M | $510.3M | $160.3M | -$39.6M | -$55.0M | -$404.0M | -$335.9M | -$83.7M | -$634.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $691.6M | $596.3M | $486.2M | $349.8M | $191.7M | $132.8M | $46.6M | -$13.4M | -$79.7M | — |
| Depreciation and amortisation | $129.3M | $114.6M | $109.7M | $83.4M | $55.3M | $35.7M | $30.6M | $23.2M | $12.5M | — |
| Stock-based compensation | $297.9M | $306.4M | $239.1M | $158.1M | $77.8M | $121.3M | $134.9M | $14.4M | $11.2M | — |
| Capital expenditure | $129.2M | $143.8M | $143.3M | $230.3M | $183.2M | $130.7M | $48.6M | $44.2M | $40.3M | — |
| Investing cash flow | -$151.8M | $394.6M | -$287.4M | -$615.5M | -$193.3M | -$123.7M | -$49.9M | $31.8M | -$195.8M | — |
| Financing cash flow | -$276.0M | -$996.7M | $71.6M | -$6.7M | $41.3M | $342.2M | $127.0M | $1.1M | $187.8M | — |
| Buybacks | $262.5M | $942.8M | $0 | $0 | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-022529.
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