PetMed Express

PETS

Specialty Retail · Consumer Cyclical

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Winston Score History

The full picture

PetMed Express, also known as 1-800-PetMeds, is an online pharmacy that sells prescription and non-prescription pet medications directly to pet owners in the United States. Its main products include flea and tick treatments, heartworm preventatives, and other common pet medicines for dogs and cats. The company competes in the pet health industry, where it was one of the early pioneers of direct-to-consumer pet pharmacy retail.

PetMed Express makes money by selling medications through its website and by phone, earning a margin on each product sold rather than charging subscriptions. It operates entirely within the U.S. and is a small-cap company facing intense competition from large rivals like Chewy, Amazon, and traditional veterinary clinics that have expanded their own online pharmacies. The company's negative operating margin signals it is currently spending more than it earns, and its biggest challenge is retaining customers and growing sales volume in a crowded market where larger competitors have significant pricing and logistics advantages.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-7.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+66.1% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

36.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~7 months

$13M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

PetMed Express has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

27.6%

Modest — 27.6% gross margin

Profit after running costs

Operating Margin

-15.2%

Losing money on operations — -15.2%

Return on the money invested

ROCE

-131.5%

Weak — -131.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-19.7%

Shrinking sales (-19.7% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-16.5%

Burning cash (-16.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.02

Conservative — low debt load (0.02)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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