Chewy
CHWY Consumer Cyclical Internet Retail
Chewy’s revenue for fiscal 2026 (year ended January 2026) was $12.6 billion, up 6.24% from fiscal 2025. In the quarter to July 2026, revenue grew 7.28%, EPS grew 33.3% and free cash flow fell 15.5%, each against the same quarter a year earlier. Revenue growth for ten consecutive years, operating cash flow growth for five.
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Chewy (CHWY) Piotroski F-score
Chewy's Piotroski F-score for fiscal 2026 is 8 out of 9: 8 of nine tests of profitability, leverage and efficiency passed, up from 7 in fiscal 2025.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2026 | 8 | 1.00 |
| FY2025 | 7 | 1.00 |
| FY2024 | 6 | (1.00) |
| FY2023 | 7 | 2.00 |
| FY2022 | 5 | (1.00) |
| FY2021 | 6 | — |
How fiscal 2026’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 6.98% | 12.66% | Pass | 1 |
| Positive operating cash flow | 691.60m | 596.30m | Pass | 1 |
| Rising return on assets | 6.98% | 12.66% | Fail | 0 |
| Cash flow above net income | 468.80m | 203.60m | Pass | 1 |
| Falling long-term leverage | 0.00 | 0.00 | Pass | 1 |
| Rising current ratio | 0.88 | 0.75 | Pass | 1 |
| No new shares issued | 414,100,000 | 421,400,000 | Pass | 1 |
| Rising gross margin | 29.79% | 29.24% | Pass | 1 |
| Rising asset turnover | 3.95 | 3.83 | Pass | 1 |
| Piotroski F-score | Strong — most fundamentals improved | 8 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| CHWY Chewy | 8 |
| CART Maplebear Inc. compare | 7 |
| GLBE Global-e Online Ltd. compare | 7 |
| CPNG Coupang, Inc. compare | 6 |
| W Wayfair Inc. compare | 6 |
| VIPS Vipshop Holdings Limited compare | 6 |
| JD JD.com, Inc. compare | 5 |
| ETSY Etsy, Inc. compare | 5 |
| OZON Ozon Holdings PLC Sponsored ADR compare | 5 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover