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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.
$22.54
+$1.16 (+5.43%)
Price from 5 days ago
Operating margin is thin at 2.02%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 6.2%, steady but not accelerating.
At 43x earnings, the current multiple leaves limited room for execution misses or growth deceleration.
43.3x earnings, 17.1x FCF. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$12.60B
▲ +6.2% YoY
Net Income (TTM)
$223M
▼ -43.3% YoY
Op. Margin
2.02%
▲ +1.1pp YoY
ROIC
23.09%
▲ +13.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$562M
▲ +24.3% YoY
Op. Cash Flow (TTM)
$692M
▲ +16.0% YoY
Net Debt
-$322M
Net Cash Position
Cash & Equiv.
$879M
5Y CAGR: +12.0%
5Y CAGR: +208.5%
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