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

Chewy brought in $12.6B of revenue in fiscal 2025, Wayfair $12.5B in fiscal 2025. Revenue changed by +6.2% at Chewy and +5.1% at Wayfair on the year before, so Chewy grew faster. Chewy kept 1.8% of its revenue as net profit, Wayfair -2.5%. Free cash flow was $562.4M at Chewy and $464M at Wayfair.

Side by side, latest fiscal year

CHWYW
Fiscal year endedFY2025 (February 1, 2026)FY2025 (December 31, 2025)
Revenue$12.6B$12.5B
Revenue growth+6.2%+5.1%
Net income$222.8M-$313M
Net margin1.8%-2.5%
Free cash flow$562.4M$464M
Free cash flow margin4.5%3.7%
Earnings per share (diluted)$0.52-$2.44
Cash$860.1M$1.5B
Debt$0$3.3B
Price to earnings35.1n/a
Market value$7.5B$13.4B
Dividend yieldn/an/a
Rank by revenue in sector#102 of 778 · Consumer discretionary#103 of 778 · 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: $12.6BW FY2018: $6.8BW FY2019: $9.1BW FY2020: $14.1BW FY2021: $13.7BW FY2022: $12.2BW FY2023: $12BW FY2024: $11.9BW FY2025: $12.5BFY18FY19FY20FY21FY22FY23FY24FY25
CHWY $12.6BW $12.5B
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: $222.8MW FY2018: -$504.1MW FY2019: -$985MW FY2020: $185MW FY2021: -$131MW FY2022: -$1.3BW FY2023: -$738MW FY2024: -$492MW FY2025: -$313MFY18FY19FY20FY21FY22FY23FY24FY25
CHWY $222.8MW -$313M
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%W FY2018: -7.4%W FY2019: -10.8%W FY2020: 1.3%W FY2021: -1.0%W FY2022: -10.9%W FY2023: -6.1%W FY2024: -4.2%W FY2025: -2.5%FY18FY19FY20FY21FY22FY23FY24FY25
CHWY 1.8%W -2.5%
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%W FY2019: +34.6%W FY2020: +55.0%W FY2021: -3.1%W FY2022: -10.9%W FY2023: -1.8%W FY2024: -1.3%W FY2025: +5.1%FY19FY20FY21FY22FY23FY24FY25
CHWY +6.2%W +5.1%
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: $562.4MW FY2018: -$74.3MW FY2019: -$469MW FY2020: $1.2BW FY2021: $309MW FY2022: -$860MW FY2023: $201MW FY2024: $244MW FY2025: $464MFY18FY19FY20FY21FY22FY23FY24FY25
CHWY $562.4MW $464M

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

Questions about Chewy and Wayfair

Which is bigger by revenue, Chewy or Wayfair?

Chewy is bigger by revenue: $12.6B in fiscal 2025, against $12.5B for Wayfair in fiscal 2025.

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

Chewy had a net margin of 1.8% in fiscal 2025; Wayfair had -2.5% in fiscal 2025.

Which grew revenue faster, Chewy or Wayfair?

In their latest fiscal years revenue changed by +6.2% at Chewy and +5.1% at Wayfair.

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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