Fundamentals Hub
▼ FY 2025 Summary Analysis
Annual report ending Feb 1, 2026Overview and Growth
In fiscal 2025, Chewy, Inc. recorded $12.60B of revenue, net income of $222.80M, and an operating cash inflow of $691.60M. At $12.60B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $11.86B in fiscal 2024, revenue recorded a 6.2% year-over-year increase. Diluted earnings per share were $0.52, translating the period’s attributable earnings into the amount reported for each diluted share. The per-share result recorded a 42.9% decrease from fiscal 2024 diluted EPS of $0.91. The revenue-to-assets relationship was 3.74x, showing the sales generated relative to the resources carried on the balance sheet.Profitability
The first profit layer was $3.75B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 29.8% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was $254.30M, capturing profitability after direct costs and the operating expenses reflected in the statements. The operating result equaled 2.0% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all reported below-operating-line items, the company recorded net income of $222.80M for the fiscal year. The final earnings result represented 1.8% of revenue, connecting the absolute net income figure with the company’s top-line scale. The earnings statement records $263.30M of pretax income, the profit base against which the reported tax provision can be assessed. Measured against revenue, pretax income equaled 2.1%, adding a pre-tax profitability layer between revenue and net income. The reported income-tax provision was $40.50M, the amount recognized between pretax income and the final net-income result. The income-tax provision equaled 15.4% of pretax income, showing the tax burden absorbed by the year’s earnings. The relationship between net income and period-end equity was 44.7%, indicating the profitability achieved on book capital. Net income represented 6.6% of period-end assets, placing the company’s bottom-line result against the total resource base employed.Liquidity and Capital Structure
At period end, the $3.37B asset base was financed through $2.87B of liabilities and $497.90M of equity. At period end, current assets of $2.04B compared with current liabilities of $2.30B, defining the company’s short-term resource position. At 0.88x, current liabilities exceeded current assets and placed pressure on the company’s near-term liquidity position. Reported cash and equivalents were $860.10M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 37.4% of current liabilities, showing how much near-term coverage came from cash alone. The liabilities-to-assets relationship was 85.2%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 25.5%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 11.7% from $3.01B in fiscal 2024, leaving current total assets higher year over year.Cash Flow and Earnings Quality
The company reported $691.60M of operating cash flow, a cash inflow that shows the cash generated by operations. Against net income, operating cash flow measured 3.1x, showing the relationship between accrual earnings and operating cash. The cash-flow statement records $129.20M of capital expenditures, the investment amount considered after operating cash generation. Relative to operating cash flow, capital expenditures measured 18.7%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $562.40M of positive free cash flow for the period. Relative to revenue, free cash flow equaled 4.5%, showing how much sales converted into cash after investment. Free cash flow equaled 16.7% of total assets, relating post-investment cash generation to the company’s resource base.
Based on the annual report for the fiscal year ending Feb 1, 2026.
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