Chewy (CHWY) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

CHWY Chewy Inc CHWY
70 GF Score
Price $20.62
GF Value $31.18
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Chewy Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Chewy  (NYSE:CHWY) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Chewy Cyclically Adjusted PB Ratio Related Terms


Chewy Cyclically Adjusted PB Ratio Historical Data

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The historical data trend for Chewy's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Chewy Cyclically Adjusted PB Ratio Chart

Chewy Annual Data
Trend Dec16 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25 Jan26
Cyclically Adjusted PB Ratio
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Chewy Quarterly Data
Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26 Jul26
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CHWY vs ETSY, CART, GLBE: Cyclically Adjusted PB Ratio Comparison

For the Internet Retail subindustry, Chewy's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Chewy Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Chewy's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Chewy's Cyclically Adjusted PB Ratio falls into.


CHWY
70GF Score
Chewy Inc CHWY
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Chewy Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Chewy's Cyclically Adjusted Book per Share for the fiscal year that ended in Jan26 is calculated as:

For example, Chewy's adjusted Book Value per Share data for the fiscal year that ended in Jan26 was:

Adj_Book=Book Value per Share/CPI of Jan26 (Change)*Current CPI (Jan26)
=1.199/325.2520*325.2520
=1.199

Current CPI (Jan26) = 325.2520.

Chewy Annual Data

Book Value per Share CPI Adj_Book
201612 -1.330 241.432 -1.792
201801 -0.210 247.867 -0.276
201901 -0.843 251.712 -1.089
202001 -1.006 257.971 -1.268
202101 -0.005 261.582 -0.006
202201 0.035 281.148 0.040
202301 0.377 299.170 0.410
202401 1.182 308.417 1.247
202501 0.632 317.671 0.647
202601 1.199 325.252 1.199

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Chewy (CHWY) Overvalued in 2026?

Based on GuruFocus' analysis, Chewy stock appears to be undervalued. The current stock price of $20.62 is trading 33.9% below its estimated GF Value™ of $31.18. GuruFocus considers Chewy to be Significantly Undervalued.

Key valuation signals for CHWY:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $31.18 vs. price of $20.62 (33.9% below fair value)
  • GF Score™: 70/100 with 2 warning signs

No single metric tells the full story. See the CHWY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Chewy Business Description

Address 7700 West Sunrise Boulevard, Plantation, FL, USA, 33322
Chewy is the largest e-commerce petcare retailer in the US, generating $12.6 billion in fiscal 2025 sales across pet food, treats, hard goods, and pharmacy categories. The firm was founded in 2011, acquired by PetSmart in 2017, and tapped public markets as a stand-alone company in 2019 after spending time developing under the aegis of the pet superstore chain. The firm generates sales from pet food, treats, over-the-counter medications, medical prescription fulfillment, veterinary care, membership fees, sponsored ads, and hard goods like crates, leashes, and bowls.
70GF Score

Get the complete analysis for CHWY

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$20.62
Price
$31.18
GF Value