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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.
ChewyMEX:CHWY 63 Operating Margin % is 3.83% as of Apr. 2026. GuruFocus rates MEX:CHWY with a GF Score™ of 63/100 and a GF Value™ of MXN576.82 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,130 Retail - Cyclical companies, Chewy ranks worse than 59.82% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Chewy's Operating Income for the
three
months ended in Apr. 2026 was MXN2,251 Mil. Chewy's Revenue for the
three
months ended in Apr. 2026 was MXN58,805 Mil. Therefore, Chewy's Operating Margin % for the quarter that ended in Apr. 2026 was 3.83%.
The historical rank and industry rank for Chewy's Operating Margin % or its related term are showing as below:
MEX:CHWY'
s Operating Margin % Range Over the Past 10 Years
Min: -16.06 Med: -1.05 Max: 2.38
Current: 2.38
MEX:CHWY's Operating Margin % is ranked worse than 59.82% of 1130
companies
in the Retail - Cyclical industry
Industry Median: 3.92
vs MEX:CHWY: 2.38
Chewy's 5-Year Average Operating Margin % Growth Rate was 0.00% per year.
Chewy's Operating Income for the
three
months ended in Apr. 2026 was MXN2,251 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Apr. 2026 was MXN5,508 Mil.
Chewy (MEX:CHWY) Operating Margin % Explanation
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Chewy Operating Margin % Related Terms
Chewy Operating Margin % Historical Data
* Premium members only.
The historical data trend for Chewy's Operating Margin % 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.
MEX:CHWY vs ETSY, CART, VIPS: Operating Margin % Comparison
For the Internet Retail subindustry, Chewy's Operating Margin %, along with its competitors' market caps and Operating Margin % 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 Operating Margin % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Chewy's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Chewy's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
Chewy's Operating Margin % for the fiscal year that ended in Jan. 2026 is calculated as
* 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 (MEX:CHWY) has a Operating Margin % of 3.83% as of Apr. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Chewy and its competitors. According to the industry distribution chart, Chewy ranks #676 out of 1130 companies in the Retail - Cyclical industry, placing it in the top 59.8%.
Is Chewy's Operating Margin % too high?
Chewy's current Operating Margin % is 3.83%. The Retail - Cyclical industry median Operating Margin % is 3.92. Chewy's value of 3.83% is 2.3% below this industry median. Based on the distribution chart, Chewy ranks #676 out of 1130 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, Chewy has a GF Score™ of 63/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Chewy's Operating Margin % compare to ETSY and CART?
According to the Retail - Cyclical industry distribution chart, Chewy ranks #676 out of 1130 companies for Operating Margin %. This places Chewy in the lower half of its industry. The industry median Operating Margin % is 3.92. Chewy's value of 3.83% is 2.3% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a Retail - Cyclical company?
The median Operating Margin % among Retail - Cyclical companies is 3.92, based on 1,130 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Chewy's current Operating Margin % of 3.83% is 2.3% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Chewy and its competitors. For the Retail - Cyclical industry, the median Operating Margin % is 3.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Chewy's current Operating Margin % is 3.83%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chewy stock overvalued right now?
Based on GuruFocus' analysis, Chewy (MEX:CHWY) is currently considered Significantly Undervalued. The stock's GF Value™ is MXN576.82, compared to a current price of MXN386.00 — trading 33.1% below its estimated fair value. The current Operating Margin % is 3.83% and 2.3% below the Retail - Cyclical industry median of 3.92. Chewy's overall GF Score™ is 63/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Chewy (MEX:CHWY), the current Operating Margin % is 3.83% as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Chewy (MEX:CHWY) Overvalued in 2026?
Based on GuruFocus' analysis, Chewy stock appears to be undervalued.
The current stock price of MXN386.00 is trading 33.1% below its estimated GF Value™ of MXN576.82.
GuruFocus considers Chewy to be Significantly Undervalued.
Key valuation signals for MEX:CHWY:
Operating Margin %: 3.83%
GF Value™: MXN576.82 vs. price of MXN386.00 (33.1% below fair value)
Industry Position: 2.3% below the Retail - Cyclical median (#676 of 1130)
No single metric tells the full story. See the MEX:CHWY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
63GF Score
Get the complete analysis for MEX:CHWY
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