CHWY
Chewy, Inc.
CHWY's fundamentals are strong and it looks cheap: trading at 34x earnings, about a third of its usual 95x. Analysts expect strong earnings growth.
CHWY Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Healthy |
CHWY's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
CHWY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 22x | $22.60 | — |
| Current | 34x | $22.60 | — |
| Cheap | 37x | $24.73 | +9.4% |
| Fair | 94x | $62.06 | +175% |
| Expensive | 623x | $411 | +1720% |
Historical ranges are pointers, not guarantees.
CHWY's PE is in its cheap range at 34x. If earnings grow as analysts expect, today's price would be 22x next year's earnings.
CHWY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for CHWY, with profitability improving.
CHWY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.02 | +54% |
| Q3 2026 | $0.66 | +78% |
| Q2 2026 | $0.60 | -34% |
| Q1 2026 | $0.52 | -43% |
| Q4 2025 | $0.50 | -46% |
| Q3 2025 | $0.37 | -55% |
| Q2 2025 | $0.91 | +379% |
| Q1 2025 | $0.91 | +911% |
| Q4 2024 | $0.92 | +2967% |
CHWY's earnings per share have fallen from their peak: $0.66 over the past year, against $0.92 in late 2024.
CHWY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.3B | +7.3% |
| Q2 2026 | $3.4B | +7.7% |
| Q1 2026 | $3.3B | +0.5% |
| Q4 2025 | $3.1B | +8.3% |
| Q3 2025 | $3.1B | +8.6% |
| Q2 2025 | $3.1B | +8.3% |
| Q1 2025 | $3.2B | +14% |
| Q4 2024 | $2.9B | +5.1% |
CHWY's revenue has grown year over year every quarter since late 2020: $3.3B last quarter, up 7.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 2.8% | +0.5 points |
| Q2 2026 | 3.8% | +1.4 points |
| Q1 2026 | 1.3% | +1.6 points |
| Q4 2025 | 2.1% | +1.2 points |
| Q3 2025 | 2.3% | +1.1 points |
| Q2 2025 | 2.5% | +0.2 points |
| Q1 2025 | -0.3% | +0.4 points |
| Q4 2024 | 0.9% | +1.3 points |
CHWY's operating margin was 2.8% last quarter, up 0.5 points from the same quarter a year ago, near the top of its range since 2019.
CHWY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $89.5M | -15% |
| Q2 2026 | $70.8M | +45% |
| Q1 2026 | $232M | +48% |
| Q4 2025 | $175.8M | +16% |
| Q3 2025 | $105.9M | +16% |
| Q2 2025 | $48.7M | -7.5% |
| Q1 2025 | $156.6M | +136% |
| Q4 2024 | $151.8M | +213% |
CHWY generated $568M in free cash flow over the past year, up 23% from the year before.
CHWY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.1% | -9M shares |
| 1 year | -4.3% | -18.3M shares |
| 3 years | -5% | -21.5M shares |
| 5 years | -1.6% | -6.6M shares |
| Available history | +2.2% | +8.8M shares |
CHWY has 410M diluted shares, down 4.3% from a year ago, with $510M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $200M |
| Q2 2026 | $200M |
| Q1 2026 | $55M |
| Q4 2025 | $54.9M |
| Q3 2025 | $129.5M |
| Q2 2025 | $23.1M |
| Q1 2025 | $67.7M |
| Q4 2024 | $343.2M |
CHWY spent $510M buying back its own shares over the past year, down 9.5% from the year before.
CHWY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.0x | Net Cash |
| Q2 2026 | -1.1x | Net Cash |
| Q1 2026 | -2.2x | Net Cash |
| Q4 2025 | -2.1x | Net Cash |
| Q3 2025 | -2.1x | Net Cash |
| Q2 2025 | -2.6x | Net Cash |
| Q1 2025 | -2.6x | Net Cash |
| Q4 2024 | -2.4x | Net Cash |
CHWY has more cash than debt.
CHWY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.2 | Neutral |
| Stochastic | 58.6 | Neutral |
CHWY's weekly RSI is 51 (neutral) and its Stochastic is 59 (neutral).
CHWY PE vs Consumer Cyclical Sector
| Metric | CHWY | Sector median | Relative |
|---|---|---|---|
| PE | 34x | 18x | 90% above |
| PE % | 7 | 47 | 40 pts below |
CHWY is trading at 34x earnings, a 90% premium to the Consumer Cyclical sector's median of 18x.
CHWY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $20.6 | 9.8% above |
| 20 week MA | $21.4 | 5.4% above |
| 50 week MA | $24.4 | 7.5% below |
| 100 week MA | $31.0 | 27% below |
| 200 week MA | $29.0 | 22% below |
CHWY has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 22% below its 200-week average.
CHWY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $28.6 | $104.0 | +263% |
| 2021 | $104.0 | $59.3 | -43% |
| 2022 | $59.3 | $39.3 | -34% |
| 2023 | $39.3 | $23.6 | -40% |
| 2024 | $23.6 | $34.1 | +44% |
| 2025 | $34.1 | $32.5 | -4.6% |
| 2026 YTD | $32.5 | $22.6 | -30% |
CHWY's yearly returns have swung widely, from +263% in 2020 to −43% in 2021. It's down 30% so far in 2026.