Is the 10% EBITDA Margin Target Finally Within Reach for Chewy?

Key Takeaways CHWY Q3 adjusted EBITDA grew 30% to $180.9M, with margin up 100 basis points to 5.8%.CHWY targets a 10% EBITDA margin, with gains split between gross margin and expense leverage.CHWY expects FY25 EBITDA margin of 5.6%-5.7%, backed by Autoship and ad revenue strength.Chewy, Inc. (CHWY) posted a steady year-over-year profitability improvement in the third quarter of 2025 and remains firmly on course to achieve its long-term target of a 10% adjusted EBITDA margin. Third-quarter performance built ...