Chewy
CHWY · Other Specialty Retail
$21.93
1.8%Wayfair
W · Homefurnishing Retail
$112.49
0.9%The short version
- Chewy is the larger business, with $12.6B of revenue in fiscal 2025 against $12.5B for Wayfair.
- Chewy grew revenue faster (6.2%, against 5.1%).
- Chewy kept more of each dollar of sales as operating profit (2.0% operating margin, against 0.1% operating margin).
- Chewy turned more of its sales into free cash flow (4.5% FCF margin, against 3.7% FCF margin).
| Latest fiscal year | CHWY · FY25 | W · FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.0B | $14.8B |
| Revenue | $12.6B | $12.5B |
| Free cash flow | $562M | $464M |
| Net income | $223M | −$313M |
| Growth | ||
| Revenue growth | 6.2% | 5.1% |
| 5-year growth | 12.0% | −2.5% |
| Share count change | −1.2% | 4.1% |
| Profitability | ||
| Gross margin | 29.8% | 30.2% |
| Operating margin | 2.0% | 0.1% |
| Net margin | 1.8% | −2.5% |
| FCF margin | 4.5% | 3.7% |
| Return on capital | — | — |
| Return on equity | 58.7% | — |
| Balance sheet | ||
| Net debt | −$879M | $1.7B |
| Net debt / EBITDA | −2.3x | 5.4x |
| Dividends and buybacks | $263M | $0.0M |
| Valuation & quality | ||
| P/E | 33.2x | — |
| Piotroski F-score | 7 | 6 |
FY16
CHWY —
W $3.4B
FY17
CHWY $2.1B
W $4.7B
FY18
CHWY $3.5B
W $6.8B
FY19
CHWY $4.8B
W $9.1B
FY20
CHWY $7.1B
W $14.1B
FY21
CHWY $9.0B
W $13.7B
FY22
CHWY $10.1B
W $12.2B
FY23
CHWY $11.1B
W $12.0B
FY24
CHWY $11.9B
W $11.9B
FY25
CHWY $12.6B
W $12.5B
CHWY
W
FY16
CHWY —
W −5.8%
FY17
CHWY −16.1%
W −5.0%
FY18
CHWY −7.6%
W −7.0%
FY19
CHWY −5.2%
W −10.2%
FY20
CHWY −1.3%
W 2.6%
FY21
CHWY −0.8%
W −0.7%
FY22
CHWY 0.6%
W −11.3%
FY23
CHWY −0.2%
W −6.8%
FY24
CHWY 1.0%
W −3.9%
FY25
CHWY 2.0%
W 0.1%
CHWY
W
FY16
CHWY —
W −$33.9M
FY17
CHWY −$120M
W −$66.8M
FY18
CHWY −$57.6M
W −$74.3M
FY19
CHWY −$2.1M
W −$469M
FY20
CHWY $2.0M
W $1.2B
FY21
CHWY $8.6M
W $309M
FY22
CHWY $119M
W −$860M
FY23
CHWY $343M
W $201M
FY24
CHWY $453M
W $244M
FY25
CHWY $562M
W $464M
CHWY
W
FY16
CHWY —
W —
FY17
CHWY —
W —
FY18
CHWY —
W —
FY19
CHWY —
W —
FY20
CHWY —
W —
FY21
CHWY —
W —
FY22
CHWY —
W —
FY23
CHWY —
W —
FY24
CHWY —
W —
FY25
CHWY —
W —
CHWY
W
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.