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Side-by-side financial comparison of Chewy, Inc. (CHWY) and Coupang, Inc. (CPNG). Click either name above to swap in a different company.
Coupang, Inc. is the larger business by last-quarter revenue ($8.8B vs $3.1B, roughly 2.8× Chewy, Inc.). Chewy, Inc. runs the higher net margin — 1.9% vs -0.3%, a 2.2% gap on every dollar of revenue. On growth, Coupang, Inc. posted the faster year-over-year revenue change (10.9% vs 8.3%). Chewy, Inc. produced more free cash flow last quarter ($175.8M vs $-278.0M). Over the past eight quarters, Coupang, Inc.'s revenue compounded faster (11.4% CAGR vs 4.6%).
Chewy, Inc. is an American online retailer of pet food and other pet-related products based in Plantation, Florida. Chewy went public in 2019 with the ticker symbol CHWY on the New York Stock Exchange.
Coupang, Inc. is an American Delaware-incorporated technology and online retail company headquartered in Seattle, Washington. Founded in 2010 by Bom Kim, the company operates a retail business, food delivery service, and OTT streaming service, with offices and operations in South Korea, Taiwan, the United States, India, Japan and Singapore.
CHWY vs CPNG — Head-to-Head
Income Statement — Q3 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $3.1B | $8.8B |
| Net Profit | $59.2M | $-26.0M |
| Gross Margin | 29.8% | 28.8% |
| Operating Margin | 2.1% | 0.1% |
| Net Margin | 1.9% | -0.3% |
| Revenue YoY | 8.3% | 10.9% |
| Net Profit YoY | 1405.6% | -116.7% |
| EPS (diluted) | $0.14 | $-0.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $3.1B | $8.8B | ||
| Q3 25 | $3.1B | $9.3B | ||
| Q2 25 | $3.1B | $8.5B | ||
| Q1 25 | $3.2B | $7.9B | ||
| Q4 24 | $2.9B | $8.0B | ||
| Q3 24 | $2.9B | $7.9B | ||
| Q2 24 | $2.9B | $7.3B | ||
| Q1 24 | $2.8B | $7.1B |
| Q4 25 | $59.2M | $-26.0M | ||
| Q3 25 | $62.0M | $95.0M | ||
| Q2 25 | $62.4M | $32.0M | ||
| Q1 25 | $22.8M | $107.0M | ||
| Q4 24 | $3.9M | $156.0M | ||
| Q3 24 | $299.1M | $70.0M | ||
| Q2 24 | $66.9M | $-77.0M | ||
| Q1 24 | $34.3M | $5.0M |
| Q4 25 | 29.8% | 28.8% | ||
| Q3 25 | 30.4% | 29.4% | ||
| Q2 25 | 29.6% | 30.0% | ||
| Q1 25 | 28.5% | 29.3% | ||
| Q4 24 | 29.3% | 31.3% | ||
| Q3 24 | 29.5% | 28.8% | ||
| Q2 24 | 29.7% | 29.3% | ||
| Q1 24 | 28.2% | 27.1% |
| Q4 25 | 2.1% | 0.1% | ||
| Q3 25 | 2.2% | 1.7% | ||
| Q2 25 | 2.5% | 1.7% | ||
| Q1 25 | -0.3% | 1.9% | ||
| Q4 24 | 0.9% | 3.9% | ||
| Q3 24 | 1.1% | 1.4% | ||
| Q2 24 | 2.2% | -0.3% | ||
| Q1 24 | -0.7% | 0.6% |
| Q4 25 | 1.9% | -0.3% | ||
| Q3 25 | 2.0% | 1.0% | ||
| Q2 25 | 2.0% | 0.4% | ||
| Q1 25 | 0.7% | 1.4% | ||
| Q4 24 | 0.1% | 2.0% | ||
| Q3 24 | 10.5% | 0.9% | ||
| Q2 24 | 2.3% | -1.1% | ||
| Q1 24 | 1.2% | 0.1% |
| Q4 25 | $0.14 | $-0.02 | ||
| Q3 25 | $0.14 | $0.05 | ||
| Q2 25 | $0.15 | $0.02 | ||
| Q1 25 | $0.07 | $0.06 | ||
| Q4 24 | $0.01 | $0.08 | ||
| Q3 24 | $0.68 | $0.04 | ||
| Q2 24 | $0.15 | $-0.04 | ||
| Q1 24 | $0.08 | $0.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $701.5M | $6.3B |
| Total DebtLower is stronger | — | $648.0M |
| Stockholders' EquityBook value | $469.4M | $4.6B |
| Total Assets | $3.3B | $17.8B |
| Debt / EquityLower = less leverage | — | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $701.5M | $6.3B | ||
| Q3 25 | $591.8M | $7.2B | ||
| Q2 25 | $616.4M | $6.8B | ||
| Q1 25 | $596.7M | $6.1B | ||
| Q4 24 | $507.5M | $5.9B | ||
| Q3 24 | $695.0M | $5.8B | ||
| Q2 24 | $1.1B | $5.5B | ||
| Q1 24 | $1.1B | $5.2B |
| Q4 25 | — | $648.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $988.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $469.4M | $4.6B | ||
| Q3 25 | $389.9M | $4.7B | ||
| Q2 25 | $375.6M | $4.7B | ||
| Q1 25 | $261.5M | $4.4B | ||
| Q4 24 | $223.4M | $4.1B | ||
| Q3 24 | $486.7M | $4.2B | ||
| Q2 24 | $642.9M | $3.9B | ||
| Q1 24 | $510.2M | $4.1B |
| Q4 25 | $3.3B | $17.8B | ||
| Q3 25 | $3.1B | $18.7B | ||
| Q2 25 | $3.1B | $17.8B | ||
| Q1 25 | $3.0B | $16.0B | ||
| Q4 24 | $3.0B | $15.3B | ||
| Q3 24 | $3.1B | $16.3B | ||
| Q2 24 | $3.2B | $15.2B | ||
| Q1 24 | $3.2B | $14.9B |
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.24× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $207.9M | $82.0M |
| Free Cash FlowOCF − Capex | $175.8M | $-278.0M |
| FCF MarginFCF / Revenue | 5.6% | -3.1% |
| Capex IntensityCapex / Revenue | 1.0% | 4.1% |
| Cash ConversionOCF / Net Profit | 3.51× | — |
| TTM Free Cash FlowTrailing 4 quarters | $487.0M | $522.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $207.9M | $82.0M | ||
| Q3 25 | $133.9M | $792.0M | ||
| Q2 25 | $86.4M | $545.0M | ||
| Q1 25 | $207.5M | $354.0M | ||
| Q4 24 | $183.5M | $676.0M | ||
| Q3 24 | $123.4M | $334.0M | ||
| Q2 24 | $81.9M | $664.0M | ||
| Q1 24 | $98.9M | $212.0M |
| Q4 25 | $175.8M | $-278.0M | ||
| Q3 25 | $105.9M | $439.0M | ||
| Q2 25 | $48.7M | $246.0M | ||
| Q1 25 | $156.6M | $115.0M | ||
| Q4 24 | $151.8M | $462.0M | ||
| Q3 24 | $91.5M | $-46.0M | ||
| Q2 24 | $52.6M | $486.0M | ||
| Q1 24 | $66.5M | $105.0M |
| Q4 25 | 5.6% | -3.1% | ||
| Q3 25 | 3.4% | 4.7% | ||
| Q2 25 | 1.6% | 2.9% | ||
| Q1 25 | 4.8% | 1.5% | ||
| Q4 24 | 5.3% | 5.8% | ||
| Q3 24 | 3.2% | -0.6% | ||
| Q2 24 | 1.8% | 6.6% | ||
| Q1 24 | 2.3% | 1.5% |
| Q4 25 | 1.0% | 4.1% | ||
| Q3 25 | 0.9% | 3.8% | ||
| Q2 25 | 1.2% | 3.5% | ||
| Q1 25 | 1.6% | 3.0% | ||
| Q4 24 | 1.1% | 2.7% | ||
| Q3 24 | 1.1% | 4.8% | ||
| Q2 24 | 1.0% | 2.4% | ||
| Q1 24 | 1.1% | 1.5% |
| Q4 25 | 3.51× | — | ||
| Q3 25 | 2.16× | 8.34× | ||
| Q2 25 | 1.38× | 17.03× | ||
| Q1 25 | 9.10× | 3.31× | ||
| Q4 24 | 46.66× | 4.33× | ||
| Q3 24 | 0.41× | 4.77× | ||
| Q2 24 | 1.22× | — | ||
| Q1 24 | 2.89× | 42.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CHWY
Segment breakdown not available.
CPNG
| Products | $6.6B | 75% |
| Third Party Merchant Services | $1.9B | 22% |
| Service Other | $296.0M | 3% |
