Chewy Inc

CHWY: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Chewy Earnings: Active Customer Growth Rebounds in Solid Quarter; Shares Fairly Valued

Jaime M Katz , Ari Felhandler

Mar 26, 2025

Narrow-moat Chewy delivered solid fourth-quarter fiscal 2024 results that exceeded our estimates but gave a slightly more cautious outlook than our fiscal 2025 forecast. As a result, we don't plan a material change to our $31 per share fair value estimate and continue to view shares as fairly valued. Overall, we remain positive on Chewy's long-term prospects, supported by its proven ability to attract, retain, and upsell customers through rich consumer data and a broad product and service reach, positioning the firm to capture a disproportionate share of online petcare sales.

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Chewy Inc

Chewy Earnings: Active Customer Growth Rebounds in Solid Quarter; Shares Fairly Valued

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