Petmed Express (PETS) AI Stock Analysis

• Market Cap: $72.02M
• Dividend Yield: N/A
• Average Volume (3M): 5.21M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.34
• Revenue Growth: -24.81%
• EPS Growth: -5344.15%
• Country: US
• Employees: 287
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Pharmaceuticals
• EPS (TTM): 0.04
• Shares Outstanding: 21,369,520
• 10 Day Avg. Volume: 225,674
• 30 Day Avg. Volume: 5,209,018
• PEG Ratio: 0.73
• Price to Book (P/B): 1.01
• Price to Sales (P/S): 0.38
• P/FCF Ratio: -218.47
• Enterprise Value/Market Cap: 0.24
• Enterprise Value/Revenue: 0.09
• Enterprise Value/Gross Profit: 0.29
• Enterprise Value/Ebitda: -0.44
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: $3.50 ▲(97.74% Upside)

Petmed Express faces significant financial challenges, with declining revenue and profitability issues. Despite strong technical indicators suggesting bullish momentum, the negative P/E ratio and recent corporate events highlight financial distress. The appointment of new leadership provides a potential positive outlook, but overall, the stock remains risky.

Positive Factors

Low Leverage

Minimal leverage provides financial stability and flexibility, allowing the company to navigate economic challenges without significant debt burdens.

Leadership Changes

New leadership with financial expertise can improve governance and strategic direction, potentially enhancing operational performance and shareholder value.

Strategic Acquisition Proposal

The acquisition proposal suggests potential for operational enhancement and growth under new ownership, which could unlock long-term shareholder value.

Negative Factors

Declining Revenue

Declining revenue growth indicates challenges in market competitiveness and product demand, potentially impacting long-term profitability and market position.

Profitability Issues

Sustained profitability issues can hinder reinvestment in business growth and innovation, affecting the company's ability to compete effectively in the market.

Nasdaq Compliance Notice

Non-compliance with Nasdaq listing rules can lead to delisting risks, affecting investor confidence and access to capital markets for future funding needs.

Petmed Express Business Overview & Revenue Model

Company Description

PetMed Express, Inc., together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies 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, and other pet supplies. It sells its products through its Internet website; mobile app; telephone contact center; and direct mail/print, which includes brochures and postcards, as well as television advertising under the 1-800-PetMeds and PetMeds brands. PetMed Express, Inc. was incorporated in 1996 and is headquartered in Delray Beach, Florida.

How the Company Makes Money

PetMed Express generates revenue primarily through the sale of pet medications and health products. The company's revenue model is built on both prescription and over-the-counter products, with a significant focus on recurring purchases like monthly flea and tick treatments. The company also benefits from partnerships with veterinarians, enabling them to facilitate prescription fulfillment and reach a wider customer base. Additional revenue streams may include product sales related to pet supplies and nutritional supplements. Marketing efforts, including promotions and customer loyalty programs, further contribute to driving sales and enhancing customer retention.

Petmed Express Financial Statement Overview

Summary

Petmed Express is experiencing financial difficulties, with declining revenue and profitability issues. The balance sheet shows low leverage, but the negative return on equity is concerning. Cash flow volatility and inefficiencies in cash generation highlight operational challenges.

Income Statement

Petmed Express has experienced a decline in revenue growth, with a negative growth rate of -7.23% in the TTM period. The company is facing challenges with profitability, as indicated by negative net profit and EBIT margins. The gross profit margin remains moderate at 29.70%, but the overall income statement reflects financial struggles, particularly in maintaining profitability.

Balance Sheet

The balance sheet shows a low debt-to-equity ratio of 0.0117, indicating minimal leverage, which is a positive aspect. However, the return on equity is negative, reflecting the company's inability to generate profit from its equity base. The equity ratio stands at 42.94%, suggesting a stable capital structure, but the negative ROE highlights profitability concerns.

Cash Flow

Cash flow analysis reveals a significant decline in free cash flow, with a growth rate of 611.79% in the TTM period, indicating volatility. The operating cash flow to net income ratio is low, suggesting inefficiencies in converting income into cash. The free cash flow to net income ratio is negative, further emphasizing cash flow challenges.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	194.99M	226.97M	274.10M	256.58M	273.42M	303.58M
Gross Profit	58.39M	69.14M	77.71M	71.01M	75.34M	84.32M
EBITDA	-39.18M	6.71M	783.00K	10.99M	29.81M	32.96M
Net Income	-55.02M	-6.27M	-7.46M	5.14M	21.10M	23.92M
Balance Sheet
Total Assets	100.30M	148.70M	169.88M	170.00M	176.32M	187.50M
Cash, Cash Equivalents and Short-Term Investments	36.10M	54.72M	55.30M	104.09M	111.08M	118.72M
Total Debt	768.00K	996.00K	1.45M	995.00K	0.00	0.00
Total Liabilities	57.24M	63.57M	73.15M	60.04M	34.13M	46.22M
Stockholders Equity	43.06M	85.13M	96.73M	109.97M	142.19M	141.28M
Cash Flow
Free Cash Flow	-33.87M	-395.00K	-194.00K	22.54M	16.75M	37.64M
Operating Cash Flow	-27.88M	4.72M	4.32M	27.80M	18.50M	40.08M
Investing Cash Flow	-5.99M	-5.11M	-40.67M	-10.26M	-1.75M	-2.43M
Financing Cash Flow	-292.00K	-181.00K	-12.44M	-24.54M	-24.38M	-22.69M

Petmed Express Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.77
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PETS, the sentiment is Positive. The current price of 1.77 is below the 20-day moving average (MA) of 3.30, below the 50-day MA of 2.56, and below the 200-day MA of 3.09, indicating a bullish trend. The MACD of 0.26 indicates Positive momentum. The RSI at 57.78 is Neutral, neither overbought nor oversold. The STOCH value of 50.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PETS.

Petmed Express Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ADAG	52 Neutral	$79.18M	-2.56	-63.41%	―	-87.59%	11.53%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
PETS	50 Neutral	$72.02M	-1.25	-78.89%	―	-24.81%	-5344.15%
SRZN	50 Neutral	$171.17M	-0.87	―	―	-63.96%	-28.50%
LFMD	49 Neutral	$189.17M	-23.38	―	―	30.71%	73.43%
YI	37 Underperform	$25.07M	-2.55	―	―	-7.46%	73.05%

Petmed Express Corporate Events

PetMed Express Extends Shareholder Rights Plan

On November 26, 2025, PetMed Express announced an amendment to its shareholder rights plan, extending its expiration date to December 2, 2026, to protect shareholder investments and prevent control acquisition without a premium. Additionally, the Board approved a salary increase for Douglas Krulik, the Interim Principal Financial Officer, effective August 30, 2025, and entered into a severance agreement with him.

The most recent analyst rating on (PETS) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Petmed Express stock, see the PETS Stock Forecast page.

PetMed Express Faces Nasdaq Compliance Notice

PetMed Express, Inc. announced on November 13, 2025, that it received a notice from Nasdaq due to delays in filing its quarterly reports for periods ending June 30 and September 30, 2025. This non-compliance with Nasdaq’s listing rules requires the company to update its compliance plan by November 28, 2025. The notice does not immediately affect the company’s stock listing, and PetMed is working to complete the filings promptly. Additionally, preliminary second-quarter results indicate a decline in net sales compared to the previous year, with estimated sales ranging from $43.4 million to $44.5 million.

The most recent analyst rating on (PETS) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Petmed Express stock, see the PETS Stock Forecast page.

Petmed Express Appoints Interim CEO and President

On October 19, 2025, PetMed Express appointed James LaCamp as a director and Audit Committee Chair, effective immediately. LaCamp, with nearly two decades of experience in finance and accounting, is expected to enhance the company’s financial governance and oversight. Additionally, on October 20, 2025, the company entered into an Interim Executive Employment Agreement with Leslie C.G. Campbell, who will serve as Interim CEO and President for a year, highlighting the company’s strategic focus on board composition and leadership to drive growth and shareholder value.

The most recent analyst rating on (PETS) stock is a Sell with a $3.00 price target. To see the full list of analyst forecasts on Petmed Express stock, see the PETS Stock Forecast page.

PetMed Express Announces $1.2 Million Trade Name Impairment

On October 1, 2025, PetMed Express announced a $1.2 million non-cash impairment of its PCRX trade name for the quarter ended March 31, 2025, due to reduced actual and forecasted revenues. This impairment does not require future cash expenditures but highlights potential financial challenges, as the company also faces a sustained decline in its stock price, which may indicate further goodwill impairments affecting its financial condition and capital access.

The most recent analyst rating on (PETS) stock is a Sell with a $3.00 price target. To see the full list of analyst forecasts on Petmed Express stock, see the PETS Stock Forecast page.