A Business at a Glance
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Costco Wholesale Corporation and its subsidiaries (Costco or the Company) began operations in 1983, in Seattle, Washington. We are principally engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, Mexico, Japan, the United Kingdom (U.K.), Korea, Australia, Taiwan, China, Spain, France, Sweden, Iceland, and New Zealand. Costco operated 914, 890, and 861 warehouses worldwide at August 31, 2025, September 1, 2024, and September 3, 2023. The Company operates e-commerce sites in the U.S., Canada, Mexico, the U.K., Korea, Taiwan, Japan, and Australia. Our common stock trades on the NASDAQ Global Select Market, under the symbol “COST.” We report on a 52/53-week fiscal year, consisting of thirteen four-week periods and ending on the Sunday nearest the end of August. The first three quarters consist of three periods each, and the fourth quarter consists of four periods (five weeks in the thirteenth period in a 53-week year).
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Net Sales | — | — | $237.71B | $249.63B | $269.91B | 50% |
Food and Sundries | $77.28B | $85.63B | $96.17B | $101.46B | $109.56B | 20% |
Non-Foods | $55.97B | $61.10B | $60.87B | $63.97B | $71.19B | 13% |
Warehouse ancillary and other businesses | $31.63B | $46.47B | $48.69B | $49.97B | $51.17B | 9% |
Fresh Foods | $27.18B | $29.53B | $31.98B | $34.22B | $37.99B | 7% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 286.3B | 275.2B | 254.5B | 242.3B | 227.0B | 195.9B |
| Net Income | 8.5B | 8.1B | 7.4B | 6.3B | 5.8B | 5.0B |
| EPS | $19.23 | $18.21 | $16.56 | $14.16 | $13.14 | $11.27 |
| Free Cash Flow | 9.1B | 7.8B | 6.6B | 6.7B | 3.5B | 5.4B |
| ROIC | 42.0% | 38.5% | 33.8% | 30.4% | 31.4% | 31.2% |
| Gross Margin | 12.9% | 12.8% | 12.6% | 12.3% | 12.1% | 12.9% |
| Debt/Equity | 0.18 | 0.28 | 0.35 | 0.40 | 0.44 | 0.62 |
| Dividends/Share | $6.36 | $4.92 | $19.36 | $2.82 | $3.37 | $12.94 |
| Operating Income | 10.9B | 10.4B | 9.3B | 8.1B | 7.8B | 6.7B |
| Operating Margin | 3.8% | 3.8% | 3.6% | 3.3% | 3.4% | 3.4% |
| ROE | 26.6% | 30.7% | 31.2% | 25.1% | 28.3% | 28.5% |
| Shares Outstanding | 444M | 445M | 445M | 444M | 445M | 444M |
COSTCO WHOLESALE CORP /NEW passes 5 of 9 quality checks, suggesting mixed fundamentals.
COSTCO WHOLESALE CORP /NEW trades at 52.5x trailing earnings, compared to its 15-year median P/E of 36.0x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 48.4x vs a median of 35.4x. The company's 5-year average ROIC is 33.1% with a gross margin of 12.5%. Total shareholder yield (dividends + buybacks) is 0.9%. At current prices, the estimated annualized return to fair value is +11.5%.
COSTCO WHOLESALE CORP /NEW (COST) has a current P/E ratio of 52.5, compared to its historical median P/E of 36.0. The stock is currently considered Expensive based on its historical valuation range.
COSTCO WHOLESALE CORP /NEW (COST) has a 5-year average return on invested capital (ROIC) of 33.1%. This indicates strong capital allocation and a potential competitive advantage.
COSTCO WHOLESALE CORP /NEW (COST) has a market capitalization of $435.2B. It is classified as a mega-cap stock.
Yes, COSTCO WHOLESALE CORP /NEW (COST) pays a dividend with a trailing twelve-month yield of 0.65%. The company also returns capital through share buybacks, with a buyback yield of 0.21%.
Based on historical P/E analysis, COSTCO WHOLESALE CORP /NEW (COST) appears expensive. The current P/E of 52.5 is 46% above its historical median of 36.0. The estimated fair value CAGR (P/E method) is 12.6%.
COSTCO WHOLESALE CORP /NEW (COST) operates in the Retail-Variety Stores industry, within the Consumer Defensive sector.
COSTCO WHOLESALE CORP /NEW (COST) reported annual revenue of $275.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
COSTCO WHOLESALE CORP /NEW (COST) has a net profit margin of 2.9%. This is a modest margin.
COSTCO WHOLESALE CORP /NEW (COST) generated $7.8 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
COSTCO WHOLESALE CORP /NEW (COST) has a debt-to-equity ratio of 0.28. This indicates a conservatively financed balance sheet.
COSTCO WHOLESALE CORP /NEW (COST) reported earnings per share (EPS) of $18.21 in its most recent fiscal year.
COSTCO WHOLESALE CORP /NEW (COST) has a return on equity (ROE) of 30.7%. This indicates the company generates strong returns for shareholders.
COSTCO WHOLESALE CORP /NEW (COST) has a 5-year average gross margin of 12.5%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 18 years of financial data for COSTCO WHOLESALE CORP /NEW (COST), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
COSTCO WHOLESALE CORP /NEW (COST) has a book value per share of $65.57, based on its most recent annual SEC filing.
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