NASDAQ : COST
Costco Wholesale Corporation — Financial statements
Consumer Staples · Discount Stores · United States
Last price 996.08 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 441.39B
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Financial statements
Costco Wholesale Corporation (COST) reported revenue of 303.15B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year September - August; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 303.15B | 303.15B | 275.24B | 254.45B | 242.29B | 226.95B |
| Cost of Revenue | 264.45B | 264.45B | 239.89B | 222.36B | 212.19B | 199.38B |
| Gross Profit | 38.70B | 38.70B | 35.35B | 32.09B | 30.09B | 27.57B |
| Selling, General & Admin | 27.19B | 27.19B | 24.97B | 22.81B | 21.59B | 19.66B |
| Operating Expenses | 27.19B | 27.19B | 24.97B | 22.81B | 21.59B | 19.66B |
| Operating Income | 11.51B | 11.51B | 10.38B | 9.29B | 8.51B | 7.91B |
| Interest Expense | -145.00M | -145.00M | -154.00M | -169.00M | -160.00M | -158.00M |
| Interest & Investment Income | 591.00M | 591.00M | 469.00M | 533.00M | 470.00M | 61.00M |
| Currency Exchange Gain (Loss) | 69.00M | 69.00M | 84.00M | 26.00M | 29.00M | 106.00M |
| Other Non Operating Income (Expenses) | 41.00M | 41.00M | 36.00M | 65.00M | 34.00M | 38.00M |
| EBT Excluding Unusual Items | 12.07B | 12.07B | 10.82B | 9.74B | 8.88B | 7.96B |
| Asset Writedown | -391.00M | -118.00M | ||||
| Other Unusual Items | 184.00M | 184.00M | ||||
| Pretax Income | 12.25B | 12.25B | 10.82B | 9.74B | 8.49B | 7.84B |
| Income Tax Expense | 3.02B | 3.02B | 2.72B | 2.37B | 2.19B | 1.93B |
| Earnings From Continuing Operations | 9.23B | 9.23B | 8.10B | 7.37B | 6.29B | 5.92B |
| Minority Interest in Earnings | -71.00M | |||||
| Net Income | 9.23B | 9.23B | 8.10B | 7.37B | 6.29B | 5.84B |
| Net Income to Common | 9.23B | 9.23B | 8.10B | 7.37B | 6.29B | 5.84B |
| Shares Outstanding (Basic) | 443.95M | 443.95M | 443.99M | 443.91M | 443.85M | 443.65M |
| Shares Outstanding (Diluted) | 444.43M | 444.43M | 444.80M | 444.76M | 444.45M | 444.76M |
| EPS (Basic) | 20.78 | 20.78 | 18.24 | 16.60 | 14.18 | 13.17 |
| EPS (Diluted) | 20.76 | 20.76 | 18.21 | 16.56 | 14.16 | 13.14 |
| Free Cash Flow | 9.38B | 9.38B | 7.84B | 6.63B | 6.75B | 3.50B |
| Free Cash Flow Per Share | 21.11 | 21.11 | 17.62 | 14.90 | 15.18 | 7.87 |
| Dividend Per Share | 5.54 | 5.54 | 4.92 | 4.36 | 3.84 | 3.38 |
| Gross Margin | 12.77% | 12.77% | 12.84% | 12.61% | 12.42% | 12.15% |
| Operating Margin | 3.80% | 3.80% | 3.77% | 3.65% | 3.51% | 3.49% |
| Profit Margin | 3.04% | 3.04% | 2.94% | 2.90% | 2.60% | 2.57% |
| Free Cash Flow Margin | 3.09% | 3.09% | 2.85% | 2.60% | 2.78% | 1.54% |
| EBITDA | 14.19B | 14.19B | 12.81B | 11.52B | 10.58B | 9.81B |
| EBITDA Margin | 4.68% | 4.68% | 4.65% | 4.53% | 4.37% | 4.32% |
| D&A For EBITDA | 2.67B | 2.67B | 2.43B | 2.24B | 2.08B | 1.90B |
| EBIT | 11.51B | 11.51B | 10.38B | 9.29B | 8.51B | 7.91B |
| EBIT Margin | 3.80% | 3.80% | 3.77% | 3.65% | 3.51% | 3.49% |
| Effective Tax Rate | 24.69% | 24.69% | 25.13% | 24.36% | 25.86% | 24.55% |
| Revenue as Reported | 303.15B | 303.15B | 275.24B | 254.45B | 242.29B | 226.95B |
Balance sheet
Fiscal year September - August; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 20.21B | 20.21B | 14.16B | 9.91B | 13.70B | 10.20B |
| Short-Term Investments | 1.09B | 1.09B | 1.12B | 1.24B | 1.53B | 846.00M |
| Cash & Short-Term Investments | 21.30B | 21.30B | 15.28B | 11.14B | 15.23B | 11.05B |
| Receivables | 3.96B | 3.96B | 3.20B | 2.72B | 2.29B | 2.24B |
| Inventory | 19.32B | 19.32B | 18.12B | 18.65B | 16.65B | 17.91B |
| Other Current Assets | 2.00B | 2.00B | 1.78B | 1.73B | 1.71B | 1.50B |
| Total Current Assets | 46.58B | 46.58B | 38.38B | 34.25B | 35.88B | 32.70B |
| Property, Plant & Equipment | 39.74B | 39.74B | 36.12B | 33.08B | 30.72B | 29.04B |
| Goodwill | 953.00M | 953.00M | 26.00M | 26.00M | 994.00M | 993.00M |
| Long-Term Deferred Tax Assets | 635.00M | 635.00M | 592.00M | 548.00M | 491.00M | 445.00M |
| Other Long-Term Assets | 1.13B | 1.13B | 1.98B | 1.93B | 908.00M | 992.00M |
| Total Assets | 89.05B | 89.05B | 77.10B | 69.83B | 68.99B | 64.17B |
| Accounts Payable | 22.59B | 22.59B | 19.78B | 19.42B | 17.48B | 17.85B |
| Accrued Expenses | 8.68B | 8.68B | 7.88B | 7.23B | 6.43B | 6.29B |
| Current Portion of Long-Term Debt | 2.25B | 2.25B | 75.00M | 103.00M | 1.08B | 73.00M |
| Current Portion of Leases | 286.00M | 286.00M | 286.00M | 326.00M | 349.00M | 484.00M |
| Current Unearned Revenue | 3.01B | 3.01B | 2.85B | 2.50B | 2.34B | 2.17B |
| Other Current Liabilities | 7.14B | 7.14B | 6.23B | 5.88B | 5.91B | 5.13B |
| Total Current Liabilities | 43.95B | 43.95B | 37.11B | 35.46B | 33.58B | 32.00B |
| Long-Term Debt | 3.91B | 3.91B | 5.71B | 5.79B | 5.38B | 6.48B |
| Long-Term Leases | 3.73B | 3.73B | 3.86B | 3.73B | 3.73B | 3.87B |
| Long-Term Deferred Tax Liabilities | 1.07B | 1.07B | 724.00M | 769.00M | 795.00M | 724.00M |
| Other Long-Term Liabilities | 577.00M | 577.00M | 529.00M | 456.00M | 452.00M | 448.00M |
| Total Liabilities | 53.24B | 53.24B | 47.94B | 46.21B | 43.94B | 43.52B |
| Common Stock | 2.00M | 2.00M | 2.00M | 2.00M | 2.00M | 2.00M |
| Additional Paid-In Capital | 8.83B | 8.83B | 8.28B | 7.83B | 7.34B | 6.88B |
| Retained Earnings | 28.59B | 28.59B | 22.65B | 17.62B | 19.52B | 15.59B |
| Comprehensive Income & Other | -1.62B | -1.62B | -1.77B | -1.83B | -1.80B | -1.83B |
| Total Common Equity | 35.80B | 35.80B | 29.16B | 23.62B | 25.06B | 20.64B |
| Minority Interest | 5.00M | |||||
| Shareholders' Equity | 35.80B | 35.80B | 29.16B | 23.62B | 25.06B | 20.65B |
| Total Liabilities & Equity | 89.05B | 89.05B | 77.10B | 69.83B | 68.99B | 64.17B |
| Total Debt | 10.18B | 10.18B | 9.94B | 9.95B | 10.54B | 10.91B |
| Net Cash (Debt) | 11.12B | 11.12B | 5.35B | 1.20B | 4.70B | 143.00M |
| Net Cash Per Share | 25.02 | 25.02 | 12.03 | 2.69 | 10.57 | 0.32 |
| Filing Date Shares Outstanding | 443.13M | 443.13M | 443.18M | 443.07M | 442.74M | 442.60M |
| Total Common Shares Outstanding | 443.27M | 443.27M | 443.24M | 443.13M | 442.79M | 442.66M |
| Working Capital | 2.63B | 2.63B | 1.27B | -1.22B | 2.30B | 698.00M |
| Book Value Per Share | 80.77 | 80.77 | 65.80 | 53.31 | 56.59 | 46.63 |
| Tangible Book Value | 34.85B | 34.85B | 29.14B | 23.60B | 24.06B | 19.65B |
| Tangible Book Value Per Share | 78.62 | 78.62 | 65.74 | 53.25 | 54.35 | 44.39 |
| Land | 11.27B | 11.27B | 10.32B | 9.45B | 8.59B | 7.96B |
| Buildings | 27.77B | 27.77B | 25.51B | 23.73B | 22.00B | 20.12B |
| Machinery | 14.85B | 14.85B | 13.13B | 12.39B | 11.51B | 10.28B |
| Construction In Progress | 2.72B | 2.72B | 1.88B | 1.39B | 1.27B | 1.58B |
Cash flow statement
Fiscal year September - August; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 9.23B | 9.23B | 8.10B | 7.37B | 6.29B | 5.84B |
| Depreciation & Amortization | 2.67B | 2.67B | 2.43B | 2.24B | 2.08B | 1.90B |
| Asset Writedown & Restructuring Costs | 495.00M | 39.00M | ||||
| Stock-Based Compensation | 924.00M | 924.00M | 860.00M | 818.00M | 774.00M | 724.00M |
| Other Operating Activities | 673.00M | 673.00M | 186.00M | 306.00M | 412.00M | 448.00M |
| Change in Inventory | -1.15B | -1.15B | 559.00M | -2.07B | 1.23B | -4.00B |
| Change in Accounts Payable | 2.75B | 2.75B | 404.00M | 1.94B | -382.00M | 1.89B |
| Change in Other Net Operating Assets | 718.00M | 718.00M | 801.00M | 741.00M | 172.00M | 549.00M |
| Operating Cash Flow | 15.82B | 15.82B | 13.34B | 11.34B | 11.07B | 7.39B |
| Capital Expenditures | -6.43B | -6.43B | -5.50B | -4.71B | -4.32B | -3.89B |
| Investment in Securities | 23.00M | 23.00M | 113.00M | 320.00M | -685.00M | 24.00M |
| Other Investing Activities | 34.00M | 34.00M | 74.00M | -19.00M | 36.00M | -48.00M |
| Investing Cash Flow | -6.38B | -6.38B | -5.31B | -4.41B | -4.97B | -3.92B |
| Short-Term Debt Issued | 553.00M | 553.00M | 816.00M | 928.00M | 917.00M | 53.00M |
| Long-Term Debt Issued | 496.00M | 496.00M | 498.00M | |||
| Total Debt Issued | 1.05B | 1.05B | 816.00M | 1.43B | 917.00M | 53.00M |
| Short-Term Debt Repaid | -577.00M | -577.00M | -862.00M | -920.00M | -935.00M | -6.00M |
| Long-Term Debt Repaid | -160.00M | -160.00M | -250.00M | -1.21B | -366.00M | -980.00M |
| Total Debt Repaid | -737.00M | -737.00M | -1.11B | -2.13B | -1.30B | -986.00M |
| Net Debt Issued (Repaid) | 312.00M | 312.00M | -296.00M | -708.00M | -384.00M | -933.00M |
| Repurchase of Common Stock | -1.21B | -1.21B | -1.30B | -1.01B | -979.00M | -802.00M |
| Common Dividends Paid | -2.46B | -2.46B | -2.18B | -2.39B | -1.25B | -1.50B |
| Other Financing Activities | -1.05B | |||||
| Financing Cash Flow | -3.35B | -3.35B | -3.77B | -10.76B | -2.61B | -4.28B |
| Foreign Exchange Rate Adjustments | -38.00M | -38.00M | 6.00M | 40.00M | 15.00M | -249.00M |
| Net Cash Flow | 6.05B | 6.05B | 4.25B | -3.79B | 3.50B | -1.05B |
| Free Cash Flow | 9.38B | 9.38B | 7.84B | 6.63B | 6.75B | 3.50B |
| Free Cash Flow Margin | 3.09% | 3.09% | 2.85% | 2.60% | 2.78% | 1.54% |
| Free Cash Flow Per Share | 21.11 | 21.11 | 17.62 | 14.90 | 15.18 | 7.87 |
| Levered Free Cash Flow | 6.75B | 6.75B | 5.90B | 4.47B | 5.46B | 2.35B |
| Unlevered Free Cash Flow | 6.84B | 6.84B | 6.00B | 4.57B | 5.56B | 2.45B |
| Cash Interest Paid | 103.00M | 103.00M | 106.00M | 129.00M | 125.00M | 145.00M |
| Cash Income Tax Paid | 2.84B | 2.84B | 2.92B | 2.32B | 2.23B | 1.94B |
| Change in Working Capital | 2.32B | 2.32B | 1.76B | 611.00M | 1.02B | -1.56B |
Ratios
Fiscal year September - August; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 448.57B | 419.30B | 418.34B | 395.62B | 241.18B | 235.58B |
| Enterprise Value | 437.45B | 407.53B | 411.85B | 393.42B | 236.48B | 233.33B |
| Last Close Price | 1,012.28 | 944.08 | 936.46 | 881.37 | 522.27 | 506.52 |
| PE Ratio | 48.76 | 45.45 | 51.65 | 53.70 | 38.33 | 40.31 |
| Forward PE | 44.36 | 43.14 | 48.66 | 51.99 | 35.33 | 38.18 |
| PS Ratio | 1.48 | 1.38 | 1.52 | 1.55 | 0.99 | 1.04 |
| PB Ratio | 12.53 | 11.71 | 14.34 | 16.75 | 9.62 | 11.41 |
| P/TBV Ratio | 12.87 | 12.03 | 14.36 | 16.77 | 10.02 | 11.99 |
| P/FCF Ratio | 47.81 | 44.69 | 53.38 | 59.68 | 35.76 | 67.29 |
| P/OCF Ratio | 28.36 | 26.51 | 31.37 | 34.89 | 21.79 | 31.87 |
| PEG Ratio | 4.04 | 3.99 | 5.34 | 5.63 | 3.52 | 3.23 |
| EV/Sales Ratio | 1.44 | 1.34 | 1.50 | 1.55 | 0.98 | 1.03 |
| EV/EBITDA Ratio | 30.84 | 28.73 | 32.15 | 34.15 | 22.35 | 23.78 |
| EV/EBIT Ratio | 38.00 | 35.40 | 39.67 | 42.37 | 27.80 | 29.49 |
| EV/FCF Ratio | 46.63 | 43.44 | 52.55 | 59.35 | 35.06 | 66.65 |
| Debt / Equity Ratio | 0.28 | 0.28 | 0.34 | 0.42 | 0.42 | 0.53 |
| Debt / EBITDA Ratio | 0.69 | 0.69 | 0.75 | 0.83 | 0.95 | 1.06 |
| Debt / FCF Ratio | 1.08 | 1.08 | 1.27 | 1.50 | 1.56 | 3.12 |
| Net Debt / Equity Ratio | -0.31 | -0.31 | -0.18 | -0.05 | -0.19 | -0.01 |
| Net Debt / EBITDA Ratio | -0.78 | -0.78 | -0.42 | -0.10 | -0.44 | -0.01 |
| Net Debt / FCF Ratio | -1.19 | -1.19 | -0.68 | -0.18 | -0.70 | -0.04 |
| Asset Turnover | 3.65 | 3.65 | 3.75 | 3.67 | 3.64 | 3.68 |
| Inventory Turnover | 14.13 | 14.13 | 13.05 | 12.60 | 12.28 | 12.41 |
| Quick Ratio | 0.57 | 0.57 | 0.50 | 0.39 | 0.52 | 0.41 |
| Current Ratio | 1.06 | 1.06 | 1.03 | 0.97 | 1.07 | 1.02 |
| Return on Equity (ROE) | 28.40% | 28.40% | 30.69% | 30.27% | 27.53% | 30.55% |
| Return on Assets (ROA) | 8.66% | 8.66% | 8.83% | 8.36% | 7.98% | 8.01% |
| Return on Invested Capital (ROIC) | 37.34% | 35.75% | 33.62% | 32.83% | 30.86% | 31.57% |
| Return on Capital Employed (ROCE) | 25.50% | 25.50% | 26.00% | 27.00% | 24.00% | 24.60% |
| Earnings Yield | 2.05% | 2.20% | 1.94% | 1.86% | 2.61% | 2.48% |
| FCF Yield | 2.09% | 2.24% | 1.87% | 1.68% | 2.80% | 1.49% |
| Dividend Yield | 0.58% | 0.59% | 0.52% | 0.49% | 0.70% | 0.64% |
| Payout Ratio | 28.32% | 26.64% | 26.95% | 32.39% | 19.88% | 25.63% |
| Buyback Yield / Dilution | 0.08% | 0.08% | -0.01% | -0.07% | 0.07% | -0.09% |
| Total Shareholder Return | 0.67% | 0.67% | 0.51% | 0.42% | 0.77% | 0.54% |