Chewy, Inc. (CHWY) Stock

Chewy, Inc. (CHWY) is a Consumer Discretionary stock trading at $23.89 (as of 2026-08-20), with a market capitalization of $10.01B and a trailing P/E of 39.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Chewy, Inc., together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its www.chewy.com retail Website, as well as its mobile applications. It offers approximately 100,000 products from 3,000 partner brands. The company was founded in 2010 and is headquartered in Dania Beach, Florida.

Understand Chewy, Inc.: how it makes money

Chewy sells pet food, treats, supplies, pet medications, and pet-health products, plus related pet services, through its online store (Chewy.com) and mobile apps, and it earns money mainly from customer purchases that are heavily supported by subscription-style Autoship.

Because a large share of sales comes from Autoship and from non-discretionary consumables and health categories, customer purchasing is more repeatable, which can help Chewy scale order volume alongside fulfillment automation, supporting profitability.

Business quality (Solid): Strong focus on customer repeat behavior (Autoship, active customers) and fulfillment efficiency (automation and shipping distance reduction), but the provided facts do not show segment-level operating drivers beyond the company total.

Valuation: At 30× earnings, CHWY trades 58% above the Retail average (19×). Note: one-time items can distort reported P/E.

Bull case

Repeat purchase mix is central: Autoship customer sales are a large share of net sales (84.4%), and non-discretionary categories are also a large share of net sales (85%).
Large and growing customer base: Chewy reports Active customers (ending) of 21,300,000 and Net customer additions of 200,000.
Breadth of assortment supports demand: Chewy offers approximately 100,000 products from about 3,000 partner brands.

Bear case

Profitability depends on sustaining customer activity: If Active customers (ending) or Net customer additions weaken, the benefits of Autoship-driven repeat purchasing could be reduced.
Operational efficiency is not fully automated: Only 40% of orders benefit from fulfillment automation, and 30% of outbound shipping volume is handled by automated fulfillment centers, so improvements are still a work in progress.

Valuation — source: SEC EDGAR (first-party)
Price	$23.89
Market Cap	$10.01B
P/E Ratio	39.2
EV / EBITDA	21.5
Price / Book	23.60
Price / Sales	0.78
FCF Yield	5.8%
DCF Value (model)	$29.46
DCF Upside vs Price	23.3%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$12.60B
Net Margin	1.8%
Revenue Growth (YoY)	7.7%
EPS Growth (YoY)	53.3%
FCF Growth (YoY)	45.4%

Financial Health — source: SEC EDGAR
Altman Z-Score	5.46 (safe)

Valuation vs Sector & Industry
Stock P/E	39.2
Sector P/E (Consumer Discretionary)	20.5
Industry P/E (Retail)	19.5
vs Sector	91.6%
vs Industry	101.0%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BC Partners PE LP ($4.76B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Consumer Discretionary
Industry	Retail
CEO	Sumit Singh
Employees	18,000
Country	US
IPO Date	2019-06-14

Related Companies (Business model: First-Party E-commerce (Own-Inventory or Own-Platform Retail); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.