Thursday 29 October 2026 Export COST’s income statement to Excel — free account

Costco Wholesale Corporation

Costco Wholesale Corporation’s revenue for fiscal 2026 (year ended August 2026) was $303.2 billion, up 10.1% from fiscal 2025. In the quarter to August 2026, revenue grew 11.1%, EPS grew 14.8%, free cash flow grew 30.7% and total debt rose 6.46%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; revenue growth for ten consecutive years, operating cash flow growth for three.

983.72 8.41 −0.85%

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Market cap: $435.5B
P/E: 47.3×
Fwd P/E: 44.0×
Dividend yield: 0.71%
F-score: 7/9
Altman Z: 9.04
Beneish M: −2.66
Dividend safety: 80/100

Overview Business Profile Earnings & Analysis Segments Filings

Insider Decisions trades per month

Total sells 13.89

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	1	1	4	—	—	1	—	1	—	—	2	1

Insider Ownership 0.31%

Capital & Financial Ratios $m

Market Cap 435,480.00

Revenue 303,154.00

Net Income 9,226.00

Free Cash Flow 9,390.00

Net Debt (15,139.00)

Current Ratio 1.06

Debt/Equity 0.17

P/E ratio 47.34

Fwd P/E 44.00

P/S ratio 1.44

P/B ratio 12.20

Past 5Y EPS Growth 13.00%

This Y EPS Growth 9.80%

Next Y EPS Growth 9.86%

Next Y revenue growth 8.66%

Next 5Y EPS Growth 9.73%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 77.07%

10-year low 10-year high

P/S against its own 10 years 81.59%

10-year low 10-year high

P/B against its own 10 years 73.39%

10-year low 10-year high

EV/Sales against its own 10 years 80.74%

10-year low 10-year high

EV/FCF against its own 10 years 61.48%

10-year low 10-year high

Dividends

Payout Ratio 0.34

Annual Dividend Rate 7.01

Annual Dividend Yield 0.71%

	total	individual payouts
2029	Powerpack
2028	Powerpack
2027	Powerpack
2026	5.71	1.30 1.47 1.47 1.47
2025	5.06	1.16 1.30 1.30 1.30
2024	4.50	1.02 1.16 1.16 1.16
2023	3.96	0.90 1.02 1.02 1.02 15.00
2022	3.49	0.79 0.90 0.90 0.90
2021	3.07	0.70 0.79 0.79 0.79
2020	12.75	0.65 0.70 0.70 0.70 10.00 10.00
2019	2.52	0.57 0.65 0.65 0.65
2018	2.21	0.50 0.57 0.57 0.57
2017	1.95	0.45 7.00 0.50 0.50 0.50
2016	1.75	0.40 0.45 0.45 0.45

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	2026
Cash	15,234	11,144	15,284	21,301
Receivables	2,285	2,721	3,203	3,959
Inventory	16,651	18,647	18,116	19,324
Other	1,709	1,734	1,777	1,998
	35,879	34,246	38,380	46,582

	2023	2024	2025	2026
Payables	17,483	19,421	19,783	22,591
ST’ Debt	1,081	103	75	2,248
Other	6,254	6,313	6,589	7,429
	33,583	35,464	37,108	43,952

Compound Annual Growth %

	10y	5y	3y
Sales	9.83%	9.12%	7.76%
Cash Flow	17.00%	12.05%	12.66%
Earnings	14.66%	13.00%	13.61%
Book Value	11.25%	14.64%	12.63%

Earnings Trends EPS, adjusted, against the consensus

Q4 FY26 Estimate 6.48 Actual 6.60

3.91 4.67 5.43 6.19 6.95

Q1 FY26 Beat +0.08

Q2 FY26 Beat +0.03

Q3 FY26 Beat +0.02

Q4 FY26 Beat +0.12

Q1 FY27 — Dec 10

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Q1 FY26	4.26	4.34	Beat by 0.08
Q2 FY26	4.55	4.58	Beat by 0.03
Q3 FY26	4.91	4.93	Beat by 0.02
Q4 FY26	6.48	6.60	Beat by 0.12
Q1 FY27	4.87	—	Reports 10 December 2026

EPS $

	Nov	Feb	May	Aug	Year
’26	—	—	—	—	—
’26	4.50	4.58	4.93	6.75	20.76
’25	4.04	4.02	4.28	5.87	18.21
’24	3.58	3.92	3.78	5.29	16.56
’23	3.07	3.30	2.93	4.86	14.16
’22	2.98	2.92	3.04	4.20	13.14
’21	2.62	2.14	2.75	3.76	11.27

Fiscal quarters ending in the months shown.

Revenue $m

	Nov	Feb	May	Aug	Year
’26	—	—	—	—	—
’26	67,307	69,597	70,527	95,723	303,154
’25	62,151	63,723	63,205	86,156	275,235
’24	57,799	58,442	58,515	79,697	254,453
’23	54,437	55,266	53,648	78,939	242,290
’22	50,363	51,904	52,596	72,091	226,954
’21	43,208	44,769	45,277	62,675	195,929

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Nov	Feb	May	Aug	Year
’26	—	—	—	—	—
’26	4,688	2,996	3,449	4,692	15,825
’25	3,260	2,748	3,460	3,867	13,335
’24	4,651	731	2,999	2,958	11,339
’23	2,610	3,192	1,541	3,725	11,068
’22	3,258	401	1,227	2,506	7,392
’21	2,647	38	3,333	2,940	8,958

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Nov	Feb	May	Aug	Year
’26	—	—	—	—	—
’26	3,162	1,707	2,036	2,485	9,390
’25	1,996	1,611	2,329	1,901	7,837
’24	3,611	(300)	1,937	1,381	6,629
’23	1,553	2,302	721	2,169	6,745
’22	2,203	(322)	373	1,247	3,501
’21	1,754	(535)	2,305	1,846	5,370

Fiscal quarters ending in the months shown.

Group	Line	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	Trend	10 yrs	2027e	2028e	2029e	Next 3/yr
												Ten-year view		Analyst estimates Powerpack
Price, $
Price, $	Low	150.00	175.79	199.85	271.28	307.00	406.51	447.90	640.51	844.06	852.50		+21.3%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	High	195.35	245.16	307.34	393.15	571.49	612.27	681.91	1,008.25	1,078.24	1,096.50		+21.1%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
People
People	Employees	231,000	245,000	254,000	273,000	288,000	304,000	316,000	333,000	341,000	355,000		+4.9%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	Revenue/emp, $m	0.56	0.58	0.60	0.61	0.68	0.75	0.77	0.76	0.81	0.85		+4.8%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
Income, $m
Income, $m	Revenue	129,025	141,576	152,703	166,761	195,929	226,954	242,290	254,453	275,235	303,154		+10.0%	329,411	353,665	378,656	+7.7%
	Gross margin, %	13.29	13.01	12.98	13.09	12.88	12.15	12.26	12.61	12.84	12.82		(0.5) pt	Powerpack Costco Wholesale Corporation’s next three years, line by line Analysts expect revenue to grow 7.7% a year to 2029 — slower than the 10.0% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	4,039	4,442	4,765	5,367	6,680	7,840	8,487	9,740	10,818	12,251		+13.1%
	EBT margin, %	3.13	3.14	3.12	3.22	3.41	3.45	3.50	3.83	3.93	4.04		+0.9 pt
	Net income	2,714	3,179	3,704	4,059	5,079	5,915	6,292	7,367	8,099	9,226		+14.6%
	Depreciation	1,370	1,437	1,492	1,645	1,781	1,900	2,077	2,237	2,426	2,674		+7.7%
Per share, $
Per share, $	Revenue	294.28	322.85	347.25	377.03	442.19	511.56	545.88	573.20	619.92	682.85		+9.8%
	Earnings	6.11	7.15	8.32	9.05	11.30	13.17	14.18	16.59	18.24	20.78		+14.6%
	Cash flow	15.34	13.17	14.45	20.03	20.22	16.66	24.94	25.54	30.03	35.65		+9.8%
	Capex	(5.71)	(6.77)	(6.82)	(6.35)	(8.10)	(8.77)	(9.74)	(10.61)	(12.38)	(14.49)		+10.9%
	Free cash flow	9.63	6.40	7.64	13.68	12.12	7.89	15.20	14.93	17.65	21.15		+9.1%
	Book value	25.27	29.88	35.44	42.29	40.80	46.54	56.46	53.21	65.69	80.65		+13.8%
	Shares, m	438	439	440	442	443	444	444	444	444	444		+0.1%
Valuation, ×
Valuation, ×	P/E	25.70	32.61	35.10	38.42	39.89	39.46	39.12	52.93	51.44	45.42		40.0
	P/S	0.53	0.72	0.84	0.92	1.02	1.01	1.01	1.53	1.51	1.38		1.0
	P/B	6.20	7.80	8.24	8.22	11.16	11.22	9.73	16.51	14.29	11.70		10.5
	EV/Sales	0.55	0.72	0.82	0.89	1.00	0.99	0.97	1.51	1.48	1.33		1.0
	EV/FCF	16.73	36.20	37.47	24.47	32.55	154.52	41.41	58.04	51.97	43.02		49.6
Cash, $m
Cash, $m	Operating cash flow	6,726	5,774	6,356	8,861	8,958	7,392	11,068	11,339	13,335	15,825		+10.0%
	Capex	(2,502)	(2,969)	(2,998)	(2,810)	(3,588)	(3,891)	(4,323)	(4,710)	(5,498)	(6,435)		+11.1%
	Free cash flow	4,224	2,805	3,358	6,051	5,370	3,501	6,745	6,629	7,837	9,390		+9.3%
Balance, $m
Balance, $m	Working capital	(178)	363	248	3,276	64	698	2,296	(1,218)	1,272	2,630		n/m
	Total debt	6,666	6,577	6,823	7,609	7,491	6,557	6,458	5,897	5,788	6,162		(0.9%)
	Net debt	887	(682)	(2,621)	(5,696)	(4,684)	(4,492)	(8,776)	(5,247)	(9,496)	(15,139)		n/m
	Shareholders’ equity	11,079	13,103	15,584	18,705	18,078	20,647	25,058	23,622	29,164	35,803		+13.9%
Returns, %
Returns, %	ROA	7.71	8.12	8.49	7.93	8.72	9.47	9.45	10.61	11.02	11.11		+3.4 pt
	ROIC	21.47	22.54	22.84	26.11	31.30	30.15	31.15	31.58	32.99	35.34		+13.9 pt
	ROE	22.89	25.92	25.51	23.34	27.22	30.18	27.53	30.27	30.69	28.40		+5.5 pt

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Aug 2026 · latest quarter Aug 2026 · fundamentals updated 13 Oct 2026

Where the money comes from and where it goes Fiscal 2026

Fiscal 2026: revenue by segment, and margins
United States	219,823	72.51%
Other International	42,770	14.11%
Canada	40,561	13.38%
Gross margin		12.82%
Operating margin		3.85%
Pre-tax margin		4.04%

Revenue by segment since 2009

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
WMT Walmart Inc.	$942.3B	42.9×	41.7×	+5.94% (above 0%: growing)	−9.09% (below 0%: shrinking)	+15.75% (above 0%: growing)	26.14%	4.99%	Compare
COST Costco Wholesale Corporation	$435.5B	47.3×	44.0×	+11.10% (above 0%: growing)	+14.80% (above 0%: growing)	+30.72% (above 0%: growing)	12.74%	3.97%
TGT Target Corporation	$67.7B	15.4×	14.7×	+5.27% (above 0%: growing)	+100.49% (above 0%: growing)	+141.23% (above 0%: growing)	33.67%	9.65%	Compare
DG Dollar General Corporation	$27.8B	16.3×	16.8×	+5.24% (above 0%: growing)	+33.16% (above 0%: growing)	−33.98% (below 0%: shrinking)	32.60%	6.81%	Compare
DLTR Dollar Tree, Inc.	$23.9B	15.5×	15.7×	+7.02% (above 0%: growing)	+196.70% (above 0%: growing)	+4,013.41% (above 0%: growing)	42.91%	14.11%	Compare
BJ BJ's Wholesale Club Holdings, Inc.	$13.1B	22.5×	22.5×	+15.73% (above 0%: growing)	+20.18% (above 0%: growing)	+165.90% (above 0%: growing)	17.83%	4.05%	Compare
TBBB BBB Foods Inc.	$6.1B	— (loss-making)	— (loss-making)	+55.49% (above 0%: growing)	n/m	+1,859.24% (above 0%: growing)	16.75%	1.35%	Compare
OLLI Ollie's Bargain Outlet Holdings, Inc.	$5.1B	19.2×	19.0×	+9.09% (above 0%: growing)	+42.00% (above 0%: growing)	+19.36% (above 0%: growing)	43.46%	14.63%	Compare
PSMT PriceSmart, Inc.	$5.0B	31.2×	30.9×	+12.49% (above 0%: growing)	+12.28% (above 0%: growing)	−76.43% (below 0%: shrinking)	17.70%	4.43%	Compare
Median of peers	$18.5B	19.2×	19.0×	+8.06%	+33.16%	+80.30%	29.37%	5.90%

All 10 Discount Stores stocks →

Business profile

Updated 25 October 2026

Costco Wholesale Corporation operates membership warehouses and e-commerce sites. Founded in 1983 and headquartered in Issaquah, it is led by President and Chief Executive Officer Ron M. Vachris.

Members pay an annual fee to shop a limited assortment of nationally branded and private-label goods at warehouses and online. The merchandise range includes grocery and household staples, fresh food, consumer electronics, apparel, home goods, appliances, tires, and seasonal items. Warehouses also provide gasoline, pharmacy, food court, optical, hearing-aid, and tire-installation services.

Read the full business profile →

From the latest earnings call

Updated 23 October 2026

Ron Vachris said Costco plans 33 warehouse openings in fiscal 2027, including five relocations, as it works toward 30 net new openings annually.
Gary Millerchip said Costco intends to reinvest most tariff refunds in member value and will separately disclose their net quarterly earnings impact.

Read the Earnings & Analysis →

Analyst rating changes each firm’s latest, last six months

Firm	Date	Action	Rating	Target
JPMorgan	Oct 20, 2026	Target cut	Outperform	1,025.00
Roth Capital	Oct 16, 2026	Reiterated	Sell	781.00
Tigress Financial	Oct 15, 2026	Target raised	Buy	1,065.00 → 1,250.00
Truist	Oct 8, 2026	Reiterated	Hold	—
Bank of America	Sep 30, 2026	Target cut	Buy	1,200.00 → 1,095.00
Roth MKM	Sep 28, 2026	Reiterated	Sell	781.00
Guggenheim	Sep 28, 2026	Reiterated	Hold	—
DA Davidson	Sep 28, 2026	Target raised	—	1,040.00
HSBC	Sep 28, 2026	Upgrade	Buy	—

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 72.51%

Held by the ten largest 35.42%

Holder	Shares	Stake	Change
Vanguard	44.03m	9.93%	−136.07k
BlackRock	34.20m	7.71%	−744.21k
State Street	18.38m	4.15%	+232.72k
Invesco	13.99m	3.15%	+359.89k
Geode Capital Management	10.63m	2.40%	−31.75k
Morgan Stanley	10.22m	2.30%	+321.73k
Bank of America	7.25m	1.63%	−265.26k
Norges Bank	6.47m	1.46%	+6.47m
Fidelity (FMR)	6.16m	1.39%	−555.05k
UBS	5.74m	1.30%	+356.49k

13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 4 December 2025

Chief executive’s pay

Year	Total pay	Actually paid	$100 invested
2025	13.93m	15.63m	293.59

Ownership

Directors and executive officers, together less than 1%

Vanguard Group, Inc. 9.79%

BlackRock, Inc. 7.83%

Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement