Chewy, Inc.
For the period ended Feb 1, 2026. Filed Mar 25, 2026.
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FY2026 · Filed Mar 25, 2026
CHWY$22.86-0.8%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
| Fiscal Year | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities | |||
| Net income | $222.8 | $392.7 | $39.6 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 129.3 | 114.6 | 109.7 |
| Share-based compensation expense | 297.9 | 306.4 | 239.1 |
| Non-cash lease expense | 37.3 | 33.0 | 37.8 |
| Change in fair value of equity warrants and investments | 3.0 | (1.5) | (13.1) |
| Provision for deferred taxes | 28.6 | (257.5) | — |
| Unrealized foreign currency (gains) losses, net | (0.2) | 1.1 | (0.4) |
| Other adjustments | 8.0 | 1.0 | 3.9 |
| Net change in operating assets and liabilities: | |||
| Accounts receivable | (53.1) | (15.1) | (27.1) |
| Inventories | (27.7) | (117.8) | (41.2) |
| Prepaid expenses and other current assets | (21.8) | (14.0) | (50.1) |
| Other non-current assets | (3.5) | 3.5 | (29.9) |
| Trade accounts payable | 45.4 | 71.1 | 71.8 |
| Accrued expenses and other current liabilities | 53.0 | 109.7 | 152.3 |
| Operating lease liabilities | (34.0) | (32.0) | (27.2) |
| Other long-term liabilities | 6.6 | 1.1 | 21.0 |
| Net cash provided by operating activities | 691.6 | 596.3 | 486.2 |
| Cash flows from investing activities | |||
| Capital expenditures | (129.2) | (143.8) | (143.3) |
| Proceeds from sales and maturities of marketable securities | 24.0 | 538.4 | 3,078.0 |
| Purchases of marketable securities | (41.4) | — | (3,221.7) |
| Other investing activities | (5.2) | — | (0.4) |
| Net cash (used in) provided by investing activities | (151.8) | 394.6 | (287.4) |
| Cash flows from financing activities | |||
| Repurchases of common stock | (262.5) | (942.8) | — |
| Income taxes paid for, net of proceeds from, parent reorganization transaction | (9.2) | (51.9) | 60.6 |
| Payments of secondary offering costs | (1.2) | (1.1) | — |
| Principal repayments of finance lease obligations | (0.2) | (0.9) | (0.5) |
| Capital contribution from parent reorganization transaction | — | — | 22.0 |
| Payments for tax sharing agreement with related parties | — | — | (10.3) |
| Other financing activities | (2.9) | — | (0.2) |
| Net cash (used in) provided by financing activities | (276.0) | (996.7) | 71.6 |
| Effect of exchange rate changes on cash and cash equivalents | 0.5 | (0.6) | 0.2 |
| Net increase (decrease) in cash and cash equivalents | 264.3 | (6.4) | 270.6 |
| Cash and cash equivalents, as of beginning of period | 595.8 | 602.2 | 331.6 |
| Cash and cash equivalents, as of end of period | $860.1 | $595.8 | $602.2 |
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