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Chewy vs Qvc: revenue, profit, margins and growth compared

Chewy brought in $12.6B of revenue in fiscal 2025, Qvc $8.3B in fiscal 2025. Revenue changed by +6.2% at Chewy and -7.8% at Qvc on the year before, so Chewy grew faster. Chewy kept 1.8% of its revenue as net profit, Qvc -26.1%. Free cash flow was $562.4M at Chewy and $287M at Qvc.

Side by side, latest fiscal year

CHWYQVCCQ
Fiscal year endedFY2025 (February 1, 2026)FY2025 (December 31, 2025)
Revenue$12.6B$8.3B
Revenue growth+6.2%-7.8%
Net income$222.8M-$2.2B
Net margin1.8%-26.1%
Free cash flow$562.4M$287M
Free cash flow margin4.5%3.5%
Earnings per share (diluted)$0.52n/a
Cash$860.1M$1.5B
Debt$0$5B
Price to earnings35.8n/a
Market value$7.6B$12
Dividend yieldn/an/a
Rank by revenue in sector#106 of 1065 · Consumer discretionary#143 of 1065 · Consumer discretionary

Over the years

Revenue
CHWY FY2019: $3.5BCHWY FY2019: $4.8BCHWY FY2020: $7.1BCHWY FY2021: $9BCHWY FY2022: $10.1BCHWY FY2023: $11.1BCHWY FY2024: $11.9BCHWY FY2025: $12.6BQVCCQ FY2018: $11.3BQVCCQ FY2019: $11BQVCCQ FY2020: $11.5BQVCCQ FY2021: $11.4BQVCCQ FY2022: $9.9BQVCCQ FY2023: $9.4BQVCCQ FY2024: $9BQVCCQ FY2025: $8.3BFY18FY19FY20FY21FY22FY23FY24FY25
CHWY $12.6BQVCCQ $8.3B
Net income
CHWY FY2019: -$267.9MCHWY FY2019: -$252.4MCHWY FY2020: -$92.5MCHWY FY2021: -$75.2MCHWY FY2022: $49.9MCHWY FY2023: $39.6MCHWY FY2024: $392.7MCHWY FY2025: $222.8MQVCCQ FY2018: $882MQVCCQ FY2019: $767MQVCCQ FY2020: $844MQVCCQ FY2021: $787MQVCCQ FY2022: -$1.9BQVCCQ FY2023: $159MQVCCQ FY2024: -$1.1BQVCCQ FY2025: -$2.2BFY18FY19FY20FY21FY22FY23FY24FY25
CHWY $222.8MQVCCQ -$2.2B
Net margin
CHWY FY2019: -7.6%CHWY FY2019: -5.2%CHWY FY2020: -1.3%CHWY FY2021: -0.8%CHWY FY2022: 0.5%CHWY FY2023: 0.4%CHWY FY2024: 3.3%CHWY FY2025: 1.8%QVCCQ FY2018: 7.8%QVCCQ FY2019: 7.0%QVCCQ FY2020: 7.4%QVCCQ FY2021: 6.9%QVCCQ FY2022: -18.9%QVCCQ FY2023: 1.7%QVCCQ FY2024: -11.9%QVCCQ FY2025: -26.1%FY18FY19FY20FY21FY22FY23FY24FY25
CHWY 1.8%QVCCQ -26.1%
Revenue growth
CHWY FY2019: +37.2%CHWY FY2020: +47.4%CHWY FY2021: +25.5%CHWY FY2022: +12.8%CHWY FY2023: +10.2%CHWY FY2024: +6.4%CHWY FY2025: +6.2%QVCCQ FY2019: -2.6%QVCCQ FY2020: +4.4%QVCCQ FY2021: -1.0%QVCCQ FY2022: -12.9%QVCCQ FY2023: -4.4%QVCCQ FY2024: -4.8%QVCCQ FY2025: -7.8%FY19FY20FY21FY22FY23FY24FY25
CHWY +6.2%QVCCQ -7.8%
Free cash flow
CHWY FY2019: -$57.6MCHWY FY2019: -$2.1MCHWY FY2020: $2MCHWY FY2021: $8.6MCHWY FY2022: $119.5MCHWY FY2023: $342.9MCHWY FY2024: $452.5MCHWY FY2025: $562.4MQVCCQ FY2019: $1BQVCCQ FY2020: $2BQVCCQ FY2021: $959MQVCCQ FY2022: $193MQVCCQ FY2023: $912MQVCCQ FY2024: $362MQVCCQ FY2025: $287MFY19FY20FY21FY22FY23FY24FY25
CHWY $562.4MQVCCQ $287M

Fiscal years as each company reports them; the two may end in different months.

Questions about Chewy and Qvc

Which is bigger by revenue, Chewy or Qvc?

Chewy is bigger by revenue: $12.6B in fiscal 2025, against $8.3B for Qvc in fiscal 2025.

Which keeps more of its revenue as profit, Chewy or Qvc?

Chewy had a net margin of 1.8% in fiscal 2025; Qvc had -26.1% in fiscal 2025.

Which grew revenue faster, Chewy or Qvc?

In their latest fiscal years revenue changed by +6.2% at Chewy and -7.8% at Qvc.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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