Chewy vs. Coupang: Steady vs. Fluctuating Quarterly Revenue Trends
Key Points
Coupang currently appears stronger in absolute revenue volume, outperforming Chewy in every recorded quarter and establishing a consistently higher baseline of total sales over the eight-quarter tracking period shown in the provided financial data for both organizations.
Over the last eight periods, Chewy demonstrated a steady quarter-over-quarter revenue trend that remained within a very tight band, while Coupang showed more noticeable quarter-over-quarter fluctuations, initially trending higher before registering sequential declines during the final two quarters of the evaluated timeframe.
Investors should closely watch whether the existing revenue gap between the two companies remains stable over the long term or begins to actively narrow in upcoming quarters if the larger organization experiences further sequential softening in its broader top-line growth trajectory.
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Chewy: Maintaining Steady Revenue Trends Over Two Years
Chewy (NYSE:CHWY) primarily earns its revenue by selling pet food, essential supplies, and specialized animal medications directly to consumers online.
It focused on integrating its recent veterinary acquisition to gradually expand its physical clinical care footprint across new geographic locations, while a third-party supplier issued a voluntary product recall for two specific dog supplements over potential contamination concerns.
Coupang: Generating Higher Total Revenue With Some Fluctuation
Coupang (NYSE:CPNG) generates its core revenue by operating a large e-commerce marketplace and managing multiple logistics delivery services for international consumers.
It expanded the geographic coverage of its signature delivery service to reach more customers throughout Taiwan, while simultaneously facing a new on-site investigation and legal standoff with South Korean regulatory authorities over its ongoing pricing strategies and supplier policies.
Why Revenue Matters for Investors
Revenue here refers to the data provider's standardized income statement revenue line item, which serves as a primary metric for individual investors looking to evaluate top-line business scale and assess overall operational trajectory over time.
Quarterly Revenue for Chewy and Coupang
| Calendar quarter | Chewy Revenue | Coupang Revenue |
|---|---|---|
| Q3 2024 | $2.9 billion (quarter ended Oct. 27, 2024) | $7.9 billion (quarter ended Sept. 30, 2024) |
| Q4 2024 | $3.3 billion (quarter ended Feb. 2, 2025) | $8.0 billion (quarter ended Dec. 31, 2024) |
| Q1 2025 | $3.1 billion (quarter ended May 4, 2025) | $7.9 billion (quarter ended March 31, 2025) |
| Q2 2025 | $3.1 billion (quarter ended Aug. 3, 2025) | $8.5 billion (quarter ended June 30, 2025) |
| Q3 2025 | $3.1 billion (quarter ended Nov. 2, 2025) | $9.3 billion (quarter ended Sept. 30, 2025) |
| Q4 2025 | $3.3 billion (quarter ended Feb. 1, 2026) | $8.8 billion (quarter ended Dec. 31, 2025) |
| Q1 2026 | $3.4 billion (quarter ended May 3, 2026) | $8.5 billion (quarter ended March 31, 2026) |
| Q2 2026 | $3.3 billion (quarter ended Aug. 2, 2026) | $8.9 billion (quarter ended June 30, 2026) |
Foolish Take
When comparing Chewy to Coupang, I lean toward Chewy.
Admittedly, neither e-commerce company has delivered compelling levels of revenue growth. However, I look upon Chewy's growth potential more favorably. Between its expansion into Canada and its efforts to open vet clinics, it appears to have greater potential for expansion and could enter other markets in the future.
Although Coupang is the e-commerce leader in South Korea, its days of rapid growth appear to be over. While it has moved into Taiwan to stoke revenue growth, it must compete with Sea Limited and others in that market. Also, with e-commerce becoming established globally, it seems to have fewer obvious opportunities for expansion.
Additionally, Coupang does not currently earn a profit, so a P/E ratio comparison is not appropriate. Nonetheless, when comparing the price-to-sales (P/S) ratio of both companies, Chewy's 0.6 P/S ratio is lower than Coupang's 0.8 sales multiple.
Thus, as both companies seek newer and more creative opportunities to deliver higher growth, Chewy seems to hold the edge at this time.
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Will Healy has positions in Sea Limited. The Motley Fool has positions in and recommends Chewy and Sea Limited. The Motley Fool recommends Coupang. The Motley Fool has a disclosure policy.
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