Petmed Express Inc Stock Research

Market Summary

USD15.91-0.65

Market Closed

-3.93%

PETS Alerts

Big fall in earnings (Y/Y)

PETS Stock Price

PETS RSI Chart

PETS Valuation

Market Cap

335.3M

Price/Earnings (Trailing)

29.41

Price/Sales (Trailing)

1.29

EV/EBITDA

12.74

Price/Free Cashflow

14.59

PETS Price/Sales (Trailing)

PETS Profitability

EBT Margin

5.78%

Return on Equity

8.53%

Return on Assets

6.9%

Free Cashflow Yield

6.85%

PETS Fundamentals

PETS Revenue

Revenue (TTM)

260.5M

Revenue Y/Y

-3.04%

Revenue Q/Q

-9.98%

PETS Earnings

Earnings (TTM)

11.4M

Earnings Y/Y

-100.45%

Earnings Q/Q

-100.74%

Price Action

52 Week Range

15.8928.25

(Low)(High)

Last 7 days

-9.5%

Last 30 days

-15.7%

Last 90 days

-8.6%

Trailing 12 Months

-37.0%

PETS Financial Health

Current Ratio

4.31

PETS Investor Care

Dividend Yield

7.54%

Dividend/Share (TTM)

1.2

Shares Dilution (1Y)

4.30%

Diluted EPS (TTM)

0.57

Peers (Alternatives to Petmed Express)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
AMZN	1.0T	514.0B	2.44%	-40.04%	-368.89	1.95	9.40%	-108.16%
EBAY	23.0B	9.8B	-10.85%	-25.12%	-18.09	2.34	-6.00%	-109.33%
CHWY	14.5B	9.8B	-16.71%	-26.82%	-709.89	1.49	14.45%	-288.94%
ETSY	13.1B	2.6B	-16.82%	-24.20%	-18.89	5.11	11.73%	-479.56%
MID-CAP
W	3.5B	12.2B	-31.26%	-71.79%	-2.66	0.29	-10.87%	-916.03%
SMALL-CAP
RVLV	1.9B	1.1B	-1.22%	-55.16%	32.79	1.75	23.56%	-41.21%
OSTK	865.3M	1.9B	-5.11%	-60.51%	-24.56	0.45	-30.01%	-109.05%
SFIX	530.9M	1.8B	11.88%	-50.14%	-1.79	0.29	-16.43%	-882.41%
PETS	335.3M	260.5M	-15.68%	-36.98%	29.41	1.29	-6.68%	-47.81%
LE	291.4M	1.6B	4.24%	-53.05%	-137.32	0.18	-2.37%	-104.59%
DLTH	210.2M	682.3M	-1.64%	-52.46%	17.29	0.31	-0.22%	-64.32%
REAL	113.0M	603.5M	-15.94%	-85.94%	-0.58	0.19	29.04%	16.80%
IMBI	14.1M	453.2M	-38.97%	-92.06%	-0.32	0.03	-5.99%	-122.89%

Financials for Petmed Express

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-0.7%	260	262	264	273	279
Gross Profit	-3.3%	73.00	76.00	76.00	78.00	79.00
Operating Expenses	6.0%	60.00	57.00	52.00	52.00	52.00
S&GA Expenses	8.0%	39.00	36.00	32.00	31.00	30.00
EBITDA	-21.8%	18.00	23.00	28.00	30.00	-
EBITDA Margin	-21.2%	0.07*	0.09*	0.11*	0.11*	-
Earnings Before Taxes	-26.1%	15.00	20.00	25.00	27.00	28.00
EBT Margin	-25.6%	0.06*	0.08*	0.09*	0.10*	-
Net Income	-27.3%	11.00	16.00	19.00	21.00	22.00
Net Income Margin	-26.8%	0.04*	0.06*	0.07*	0.08*	-
Free Cahsflow	18.4%	23.00	19.00	23.00	17.00	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-2.4%	165	169	165	176	168
Current Assets	-3.0%	134	138	134	151	143
Cash Equivalents	6.1%	102	97.00	105	111	109
Net PPE	0.2%	25.00	25.00	25.00	24.00	25.00
Liabilities	1.4%	32.00	31.00	25.00	34.00	28.00
Current Liabilities	1.7%	31.00	31.00	24.00	33.00	26.00
Shareholder's Equity	-3.3%	134	138	140	142	141
Retained Earnings	-5.1%	117	123	127	130	131
Additional Paid-In Capital	11.9%	17.00	15.00	13.00	12.00	10.00
Accumulated Depreciation	-	12.00	-	-	-	-
Shares Outstanding	0%	21.00	21.00	21.00	21.00	20.00

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	18.9%	27.00	23.00	25.00	18.00	28.00
Share Based Compensation	5.4%	6.00	6.00	5.00	5.00	4.00
Cashflow From Investing	-8.6%	-8.81	-8.12	-7.26	-1.75	-1.85
Cashflow From Financing	-0.1%	-24.46	-24.43	-24.41	-24.38	-23.97
Dividend Payments	0.1%	24.00	24.00	24.00	24.00	24.00
Buy Backs	-	0.00	-	-	-	-

Risks for PETS

What is the probability of a big loss on PETS?

95.8%

Probability that Petmed Express stock will be more than 20% underwater in next one year

65.4%

Probability that Petmed Express stock will be more than 30% underwater in next one year.

24.2%

Probability that Petmed Express stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does PETS drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Petmed Express was unfortunately bought at previous high price.

Drawdowns

Returns for PETS

Cumulative Returns on PETS

6.3%

10-Year Cumulative Returns

3.1%

7-Year Cumulative Returns

-13.1%

5-Year Cumulative Returns

-12.8%

3-Year Cumulative Returns

What are the long-term rolling returns for PETS?

FIve years rolling returns for Petmed Express.

Annualized Returns

Which funds bought or sold PETS recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-23	MetLife Investment Management, LLC	unchanged	-	-18,885	183,655	-%
2023-03-17	American Portfolios Advisors	unchanged	-	-13.00	644	-%
2023-03-06	Rockefeller Capital Management L.P.	added	1.35	-	1,000	-%
2023-03-01	Lakewood Asset Management LLC	new	-	69,000	69,000	0.06%
2023-02-24	NATIXIS	new	-	10,620	10,620	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	unchanged	-	-11,000	116,000	-%
2023-02-21	MACQUARIE GROUP LTD	sold off	-100	-14,000	-	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	unchanged	-	9.00	3,009	-%
2023-02-17	TRUIST FINANCIAL CORP	new	-	183,407	183,407	-%
2023-02-16	MAVERICK CAPITAL LTD	added	31.72	216,350	1,330,350	0.03%

Latest Funds Activity

Are funds buying PETS calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own PETS

No. of Funds

PETS Alerts

Big fall in earnings (Y/Y)

Petmed Express News

Schedule 13G FIlings of Petmed Express

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	7.04%	1,483,238	SC 13G/A
Jan 26, 2023	proshare advisors llc	3.2%	649,277	SC 13G/A
Jan 23, 2023	blackrock inc.	16.5%	3,473,358	SC 13G/A
Jan 27, 2022	blackrock inc.	15.7%	3,290,803	SC 13G/A
Jan 26, 2022	blackrock inc.	15.7%	3,290,803	SC 13G
Feb 11, 2021	renaissance technologies llc	6.21%	1,258,073	SC 13G/A
Feb 10, 2021	vanguard group inc	7.74%	1,569,843	SC 13G/A
Jan 25, 2021	blackrock inc.	15.4%	3,131,671	SC 13G
Feb 13, 2020	renaissance technologies llc	8.02%	1,616,400	SC 13G/A
Feb 12, 2020	vanguard group inc	6.86%	1,384,273	SC 13G/A

PETS Fair Value

Petmed Express fair value in different scenarios

The table shows the Fair Value estimates for Petmed Express for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	7.25 -54.43%	9.90 -37.77%	11.68 -26.59%	17.62 10.75%	20.58 29.35%
Current Inflation	6.98 -56.13%	9.30 -41.55%	10.88 -31.62%	16.01 0.63%	18.55 16.59%
Very High Inflation	6.63 -58.33%	8.55 -46.26%	9.89 -37.84%	14.08 -11.50%	16.14 1.45%

Historical Petmed Express Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Petmed Express

View All Filings

Date Filed	Form Type	Document
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	S-8	Employee Benefits Plan
Feb 08, 2023	8-K	Current Report
Feb 07, 2023	10-Q	Quarterly Report
Feb 06, 2023	8-K	Current Report
Jan 26, 2023	SC 13G/A	Major Ownership Report
Jan 23, 2023	SC 13G/A	Major Ownership Report
Jan 19, 2023	8-K	Current Report
Jan 17, 2023	8-K	Current Report

Latest Insider Trading transactions for PETS

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2022-07-28	FULGONI GIAN	acquired	163,200	21.76	7,500	-
2022-07-28	Cobb Peter	acquired	163,200	21.76	7,500	-
2022-07-28	Campbell Leslie C.G.	acquired	163,200	21.76	7,500	-
2022-07-28	PURCEL DIANA G	acquired	163,200	21.76	7,500	-
2022-07-28	Watson Jodi	acquired	163,200	21.76	7,500	-
2022-01-11	Watson Jodi	acquired	63,000	25.2	2,500	-
2022-01-11	Campbell Leslie C.G.	acquired	63,000	25.2	2,500	-
2021-07-30	FULGONI GIAN	acquired	235,425	31.39	7,500	-
2021-07-30	KORN RONALD J	acquired	235,425	31.39	7,500	-
2021-07-30	Watson Jodi	acquired	235,425	31.39	7,500	-

About Petmed Express

Matthew N. Hulett

www.1800petmeds.com

220

PetMed Express, Inc., together with its subsidiaries, doing business as 1-800-PetMeds, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, and other health products for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes. The company also sells food, beds, crates, stairs, strollers, and other pet supplies. It sells its products through its Internet website and mobile app; telephone contact center; and direct mail/print through catalogs, brochures, and postcards. PetMed Express, Inc. was incorporated in 1996 and is headquartered in Delray Beach, Florida.

PETS Income Statement

2022-09-30

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Sales	$ 65,394	$ 67,386	$ 135,581	$ 146,698
Cost of sales	46,943	48,212	97,187	105,744
Gross profit	18,451	19,174	38,394	40,954
Operating expenses:
General and administrative	10,753	6,958	20,104	14,999
Advertising	3,879	3,435	10,228	11,108
Depreciation	858	694	1,611	1,341
Total operating expenses	15,490	11,087	31,943	27,448
Income from operations	2,961	8,087	6,451	13,506
Other income:
Interest income, net	388	74	505	159
Other, net	261	170	459	454
Total other income	649	244	964	613
Income before provision for income taxes	3,610	8,331	7,415	14,119
Provision for income taxes	1,031	1,982	2,061	3,342
Net income	$ 2,579	$ 6,349	$ 5,354	$ 10,777
Net income per common share:
Basic (in dollars per share)	$ 0.13	$ 0.31	$ 0.26	$ 0.53
Diluted (in dollars per share)	$ 0.13	$ 0.31	$ 0.26	$ 0.53
Weighted average number of common shares outstanding:
Basic (in shares)	20,261	20,178	20,235	20,144
Diluted (in shares)	20,344	20,568	20,318	20,384
Cash dividends declared per common share (in dollars per share)	$ 0.30	$ 0.30	$ 0.60	$ 0.60

PETS Balance Sheet

2022-09-30

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Current assets:
Cash and cash equivalents	$ 96,546	$ 111,080
Accounts receivable, less allowance for doubtful accounts of $32 and $39, respectively	1,590	1,913
Inventories - finished goods	34,022	32,455
Prepaid expenses and other current assets	5,463	4,866
Prepaid income taxes	595	681
Total current assets	138,216	150,995
Noncurrent assets:
Property and equipment, net	25,189	24,464
Intangible and other assets	5,860	860
Total noncurrent assets	31,049	25,324
Total assets	169,265	176,319
Current liabilities:
Accounts payable	23,980	27,500
Accrued expenses and other current liabilities	6,585	5,697
Total current liabilities	30,565	33,197
Deferred tax liabilities	547	936
Commitments and contingencies
Total liabilities	31,112	34,133
Shareholders' equity:
Preferred stock, $.001 par value, 5,000 shares authorized; 3 convertible shares issued and outstanding with a liquidation preference of $4 per share	9	9
Common stock, $.001 par value, 40,000 shares authorized; 21,077 and 20,979 shares issued and outstanding, respectively	21	21
Additional paid-in capital	14,877	11,660
Retained earnings	123,246	130,496
Total shareholders' equity	138,153	142,186
Total liabilities and shareholders' equity	$ 169,265	$ 176,319