The company maintains a vulnerable capital structure with a debt-to-equity ratio of 2.41 and a current ratio of 0.85, indicating limited liquidity to cover short-term obligations.
| Total Current Assets | 960.84M | 1.02B | 973.62M | 951.74M | 1.02B | 1.07B | 777.55M | 711M | 761.61M |
| Cash & Short-Term Investments | 166.8M | 256.74M | 165.76M | 125.43M | 201.9M | 211.6M | 111.4M | 148.78M | 180.65M |
| Cash Only | 166.8M | 256.74M | 165.76M | 125.43M | 201.9M | 211.6M | 111.4M | 148.78M | 180.65M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 36.93M | 45.81M | 40.42M | 44.37M | 49.58M | 55.62M | 41.83M | 31.52M | 27.88M |
| Days Sales Outstanding | 2.45 | 2.8 | 2.41 | 2.59 | 3 | 3.5 | 3.1 | 2.59 | 2.32 |
| Inventory | 632.91M | 590.21M | 653.33M | 684.5M | 652.43M | 675.11M | 538.67M | 478.97M | 470.14M |
| Days Inventory Outstanding | 61.15 | 58.92 | 62.89 | 64.04 | 65.99 | 72.89 | 69.88 | 69.15 | 68.99 |
| Other Current Assets | 60.16M | 127.03M | 60.59M | 38.83M | 60.81M | 86.09M | 45.61M | 26.88M | 34.17M |
| Total Non-Current Assets | 4.12B | 4.15B | 4.22B | 4.41B | 5.6B | 5.43B | 5.3B | 5.45B | 4.16B |
| Property, Plant & Equipment | 1.91B | 1.94B | 2.03B | 2.2B | 2.2B | 2.07B | 1.96B | 2.12B | 683.55M |
| Fixed Asset Turnover | 2.51x | 3.07x | 3.02x | 2.84x | 2.74x | 2.81x | 2.52x | 2.10x | 6.43x |
| Goodwill | 980.06M | 980.06M | 980.06M | 980.3M | 2.19B | 2.18B | 2.18B | 2.18B | 2.18B |
| Intangible Assets | 1.02B | 1.02B | 1.02B | 1.02B | 1.02B | 1.02B | 1.02B | 1.03B | 1.17B |
| Long-Term Investments | 0 | 0 | 13.95M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 207.47M | 203.83M | 174.02M | 205.69M | 176.81M | 152.79M | 138.19M | 122.39M | 130.93M |
| Total Assets | 5.08B | 5.17B | 5.19B | 5.36B | 6.61B | 6.5B | 6.08B | 6.16B | 4.92B |
| Asset Turnover | 1.16x | 1.15x | 1.18x | 1.17x | 0.91x | 0.89x | 0.81x | 0.72x | 0.89x |
| Asset Growth % | -3.58% | -0.4% | -3.15% | -18.9% | 1.77% | 6.95% | -1.29% | 24.99% | - |
| Total Current Liabilities | 1.13B | 1.13B | 1.14B | 1.11B | 1.02B | 1.05B | 875.31M | 841.94M | 543.47M |
| Accounts Payable | 480.66M | 450.55M | 492.88M | 485.13M | 381.21M | 403.98M | 339.49M | 293.2M | 276.93M |
| Days Payables Outstanding | 44.55 | 44.98 | 47.44 | 45.39 | 38.56 | 43.62 | 44.04 | 42.33 | 40.64 |
| Short-Term Debt | 325.64M | 324.69M | 23.31M | 15.96M | 22.79M | 21.76M | 2.2M | 28.64M | 28.35M |
| Deferred Revenue (Current) | 0 | 0 | 29.56M | 33.52M | 23.05M | 18M | 15.53M | 0 | 0 |
| Other Current Liabilities | 216.18M | 358.9M | 134.15M | 85.3M | 89.93M | 150.63M | 129.48M | 93.69M | 94.27M |
| Current Ratio | 0.85x | 0.90x | 0.85x | 0.86x | 0.99x | 1.02x | 0.89x | 0.84x | 1.40x |
| Quick Ratio | 0.29x | 0.38x | 0.28x | 0.24x | 0.36x | 0.38x | 0.27x | 0.28x | 0.54x |
| Cash Conversion Cycle | 19.05 | 16.75 | 17.86 | 21.24 | 30.43 | 32.77 | 28.94 | 29.42 | 30.67 |
| Total Non-Current Liabilities | 2.8B | 2.88B | 2.94B | 3.07B | 3.21B | 3.19B | 3.15B | 4.75B | 3.74B |
| Long-Term Debt | 1.46B | 1.49B | 1.58B | 1.58B | 1.63B | 1.64B | 1.65B | 3.23B | 3.2B |
| Capital Lease Obligations | 4.13B | 1.05B | 1.05B | 1.12B | 1.17B | 1.12B | 1.1B | 1.16B | 0 |
| Deferred Tax Liabilities | 911.75M | 234.91M | 217.71M | 251.63M | 303.12M | 318.36M | 280.92M | 265.28M | 304.2M |
| Other Non-Current Liabilities | 104.56M | 104.41M | 100.18M | 112.9M | 106.84M | 109.05M | 122.92M | 101.65M | 241.38M |
| Total Liabilities | 3.93B | 4.01B | 4.08B | 4.18B | 4.23B | 4.24B | 4.02B | 5.59B | 4.29B |
| Total Debt | 2.78B | 2.86B | 2.96B | 3.04B | 3.13B | 3.05B | 3B | 4.69B | 3.23B |
| Net Debt | 2.62B | 2.6B | 2.79B | 2.92B | 2.93B | 2.84B | 2.89B | 4.54B | 3.05B |
| Debt / Equity | 2.41x | 2.46x | 2.66x | 2.57x | 1.32x | 1.35x | 1.46x | 8.36x | 5.06x |
| Debt / EBITDA | 9.11x | 9.02x | - | - | 7.47x | 6.95x | 8.13x | 16.51x | - |
| Net Debt / EBITDA | 8.56x | 8.21x | - | - | 6.99x | 6.47x | 7.83x | 15.99x | - |
| Interest Coverage | 1.07x | 1.12x | 0.11x | -7.77x | 2.10x | 3.62x | 0.81x | 0.44x | -0.88x |
| Total Equity | 1.16B | 1.16B | 1.11B | 1.18B | 2.38B | 2.26B | 2.06B | 561.06M | 637.91M |
| Equity Growth % | 12.65% | 4.55% | -5.98% | -50.26% | 5.57% | 9.76% | 266.32% | -12.05% | - |
| Book Value per Share | 4.07 | 4.07 | 4.07 | 4.43 | 8.95 | 8.50 | 9.76 | 0.38 | 0.44 |
| Total Shareholders' Equity | 1.16B | 1.16B | 1.11B | 1.18B | 2.38B | 2.27B | 2.07B | 569.39M | 637.91M |
| Common Stock | 285K | 282K | 277K | 269K | 266K | 265K | 264K | 1.36B | 1.35B |
| Retained Earnings | -1.16B | -1.14B | -1.15B | -1.05B | 232.97M | 142.17M | -22.25M | -780.47M | -707.52M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -8.72M | -8.39M | -18.08M | 1.82M | -4.1M | -2.24M | -1.27M | -8.27M | -2.19M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | -18.2M | -13.58M | -8.33M | 0 |
High leverage and liquidity constraints
As reported in recent financial filings, Petco's total assets have contracted from $5.4 billion in 2023Q4 to $5.1 billion in 2026Q1, reflecting a shrinking capital base that underscores the company's ongoing struggle to maintain its physical footprint while navigating persistent net losses and negative retained earnings.
The consistent decline in total assets suggests that the company is failing to replace its depreciating asset base with productive new investments. This trajectory indicates that the business model is currently in a state of retrenchment rather than growth, which warrants caution regarding the long-term viability of its store-in-store strategy.
Based on the company's reported figures, the debt-to-equity ratio has remained elevated, peaking at 3.46 in 2025Q3, which indicates that Petco is heavily reliant on external financing to sustain its operations and service its existing debt obligations in a high-interest-rate environment.
The high leverage ratio suggests that the company has limited room for error, as a significant portion of its capital structure is committed to debt service rather than operational improvements. Investors should monitor whether the company can deleverage without further diluting equity or sacrificing essential maintenance capital.
According to quarterly balance sheet data, the current ratio has consistently hovered below 1.0, reaching a low of 0.84 in 2024Q3, which suggests that the company lacks sufficient liquid assets to comfortably cover its short-term liabilities without relying on continuous access to external credit markets.
A current ratio consistently under 1.0 is a red flag for a retailer with high fixed-cost obligations, as it implies a structural mismatch between current assets and immediate payment requirements. This liquidity profile appears to leave the company highly vulnerable to any sudden disruptions in consumer spending or credit availability.
As indicated by the balance sheet, goodwill remains a significant component of total assets at $980.1 million, representing a substantial portion of the company's equity base and signaling potential impairment risk if the integrated veterinary and retail platform fails to meet long-term performance expectations.
The concentration of goodwill suggests that a large portion of the company's book value is tied to past acquisitions rather than tangible, cash-generating assets. If the expected synergies from the veterinary clinic expansion do not materialize, the company may face significant write-downs that would further erode its already thin equity position.
Quick answers to the most common questions about buying WOOF stock.
As of 2025, Petco Health and Wellness Company, Inc. (WOOF) had total assets of $5.17B including $1.02B in current assets.
Petco Health and Wellness Company, Inc. (WOOF) carries total debt of $2.86B, offset by $256.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Petco Health and Wellness Company, Inc. (WOOF) has total shareholders' equity (book value) of $1.16B ($4.07 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Petco Health and Wellness Company, Inc. (WOOF) reported a current ratio of 0.90x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.