Chewy (CHWY) Operating Margin (2018 - 2026)

Chewy (CHWY) reported Operating Margin of 3.83% for Q2 2026, up 136.0% YoY from 1.62% in Q2 2025, and up 194.02% on a QoQ basis from 1.3% in Q1 2026.

Chewy (CHWY) Operating Margin (2018 - 2026) Analysis & Trends

Chewy has disclosed Operating Margin across 9 years of filings, most recently posting 3.83% for Q2 2026.

On a quarterly basis, Operating Margin rose 136.0% year-over-year to 3.83% in Q2 2026; TTM through May 2026 was 2.38%, a 135.0% increase from a year earlier, with the FY2026 full-year figure at 2.02%, up 107.0% from the prior year.
Operating Margin for Q2 2026 stood at 3.83%, up from 1.3% in the prior quarter.
The five-year high for Operating Margin was 3.83% in Q2 2026, with the low at 2.62% in Q1 2022.
A 5-year average of 0.82% and a median of 0.89% in 2023 frame the typical range for Operating Margin.
The sharpest annual moves came in 2022 and 2023: Operating Margin tumbled 368 bps in 2022, then soared 322 bps in 2023.
Year by year, Operating Margin stood at 0.02% in 2022, then sank by 1965 bps to 0.35% in 2023, then surged by 351 bps to 0.89% in 2024, then soared by 135 bps to 2.09% in 2025, then jumped by 83 bps to 3.83% in 2026.
Business Quant data shows CHWY's Operating Margin at 3.83% in Q2 2026, 1.3% in Q1 2026, and 2.09% in Q4 2025.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Operating Margin (Qtr)
1	Amazon Com	2,551.03 Bn	2,407.94 Bn	171.21 Bn	13.14%
2	Mercadolibre	82.72 Bn	77.07 Bn	3.86 Bn	6.91%
3	DoorDash	72.09 Bn	67.22 Bn	2.04 Bn	3.74%
4	PDD Holdings	62.92 Bn	38.25 Bn	12.81 Bn	22.37%
5	Ebay	48.30 Bn	44.44 Bn	2.29 Bn	19.78%
6	Coupang	34.44 Bn	34.35 Bn	2.30 Bn	-2.85%
7	Zkh	14.36 Bn	14.36 Bn	285.30 Mn	-1.06%
8	Wayfair	10.72 Bn	9.65 Bn	880.00 Mn	-0.38%
9	Maplebear	10.27 Bn	9.58 Bn	738.00 Mn	17.86%
10	Chewy	7.37 Bn	6.85 Bn	1.01 Bn	3.83%

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