PetSmart (UNKNOWN:PETM.DL) is in a good place heading into Wednesday's quarterly report.

Analysts see revenue climbing 6%, but they see profitability growing more than twice as fast. It's hard to call Wall Street ambitious here because PetSmart has landed ahead of where the pros have taken a catnap in each of the past four quarters.

In this video, longtime Fool contributor Rick Munarriz -- and his Cocker Spaniel -- explore the reasons why PetSmart may not necessarily be expensive at 18 times this year's projected earnings. 

Longtime Fool contributor Rick Munarriz -- and his dog -- have no position in any stocks mentioned. The Motley Fool recommends PetSmart. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.