COST

MKT CAP:$449B

Costco Wholesale Corporation

Market Cap

$449B

Consumer Defensive·Discount Stores·🇺🇸 United States·NASDAQ

Consumer Def.·Discount Stores·🇺🇸·NASDAQ

Stock Price

$1,010.85+$156.35 (+18.30%)

Apr 24, 2026

Company Details

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, a...

CEO

Ron Vachris

IPO Date

Jul 9, 1986

Website

www.costco.com

Key Metrics TTM

Revenue

$286.3B

+8.4% YoY

Net Income

$8.5B

EPS (Diluted)

$19.23

Free Cash Flow

$9.1B

Revenue / Share

$643.99

Gross Margin

12.9%

Operating Margin

3.8%

Net Margin

3.0%

FCF Margin

3.2%

P/S

1.6x

P/E

52.5x

Earnings Reports

Q2 2026

Mar 11, 2026

$69.6B+9.2%EPS $4.58

Q1 2026

Dec 17, 2025

$67.3B+8.3%EPS $4.50

FY 2025

Oct 7, 2025

$275.2B+8.2%EPS $18.21

Q4 2025

Oct 7, 2025

$86.2B+8.1%EPS $5.87

Q3 2025

Jun 4, 2025

$63.2B+8.0%EPS $4.28

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 23	$54.4B	$6.7B	$1.8B
Q2 23	$55.3B	$6.8B	$1.9B
Q3 23	$53.6B	$6.5B	$1.7B
Q4 23	$78.9B	$9.7B	$2.8B
Q1 24	$57.8B	$7.3B	$2.0B
Q2 24	$58.4B	$7.3B	$2.1B
Q3 24	$58.5B	$7.3B	$2.2B
Q4 24	$79.7B	$10.1B	$3.0B
Q1 25	$62.2B	$8.0B	$2.2B
Q2 25	$63.7B	$8.0B	$2.3B
Q3 25	$63.2B	$8.2B	$2.5B
Q4 25	$86.2B	$11.1B	$3.3B
Q1 26	$67.3B	$8.8B	$2.5B
Q2 26	$69.6B	$8.9B	$2.6B

Valuation

Quarter	P/S	P/E
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	1.0x	37.8x
Q1 24	1.1x	40.5x
Q2 24	1.3x	47.2x
Q3 24	1.4x	48.0x
Q4 24	1.6x	53.8x
Q1 25	1.6x	56.3x
Q2 25	1.8x	61.9x
Q3 25	1.7x	57.5x
Q4 25	1.5x	51.6x
Q1 26	1.4x	47.4x
Q2 26	1.5x	51.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$2.6B	$1.6B
Q2 23	$3.2B	$2.3B
Q3 23	$1.5B	$721M
Q4 23	$3.7B	$2.2B
Q1 24	$4.7B	$3.6B
Q2 24	$731M	-$300M
Q3 24	$3.0B	$1.9B
Q4 24	$3.0B	$1.4B
Q1 25	$3.3B	$2.0B
Q2 25	$2.7B	$1.6B
Q3 25	$3.5B	$2.3B
Q4 25	$3.9B	$1.9B
Q1 26	$4.7B	$3.2B
Q2 26	$3.0B	$1.7B

Capital Expenditures

Quarter	CapEx
Q1 23	$1.1B
Q2 23	$890M
Q3 23	$820M
Q4 23	$1.6B
Q1 24	$1.0B
Q2 24	$1.0B
Q3 24	$1.1B
Q4 24	$1.6B
Q1 25	$1.3B
Q2 25	$1.1B
Q3 25	$1.1B
Q4 25	$2.0B
Q1 26	$1.5B
Q2 26	$1.3B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 24	+6.2%	+5.9%
Q2 24	+5.7%	+5.7%
Q3 24	+9.1%	+8.4%
Q4 24	+1.0%	+0.7%
Q1 25	+7.5%	+7.4%
Q2 25	+9.0%	+8.9%
Q3 25	+8.0%	+7.7%
Q4 25	+8.1%	+8.0%
Q1 26	+8.3%	+8.2%
Q2 26	+9.2%	+9.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$402M	0.7%
Q2 23	$147M	0.3%
Q3 23	$94M	0.2%
Q4 23	$131M	0.2%
Q1 24	$444M	0.8%
Q2 24	$136M	0.2%
Q3 24	$106M	0.2%
Q4 24	$132M	0.2%
Q1 25	$463M	0.7%
Q2 25	$151M	0.2%
Q3 25	$106M	0.2%
Q4 25	$140M	0.2%
Q1 26	$486M	0.7%
Q2 26	$166M	0.2%

OpEx Breakdown

Quarter	SG&A
Q1 23	$4.9B
Q2 23	$4.9B
Q3 23	$4.8B
Q4 23	$6.9B
Q1 24	$5.4B
Q2 24	$5.2B
Q3 24	$5.1B
Q4 24	$7.1B
Q1 25	$5.8B
Q2 25	$5.7B
Q3 25	$5.7B
Q4 25	$7.8B
Q1 26	$6.3B
Q2 26	$6.3B

Revenue Segments

Quarter	Food and Sundries	Fresh Food	Membership	Non-Foods	Other
Q1 23	$21.4B	$6.7B	$1.0B	$14.0B	$11.2B
Q2 23	$21.9B	$7.4B	$1.0B	$14.7B	$10.2B
Q3 23	$21.3B	$7.2B	$1.0B	$13.1B	$11.0B
Q1 24	$23.0B	$7.3B	$1.1B	$14.8B	$11.6B
Q2 24	$23.7B	$8.0B	$1.1B	$15.0B	$10.6B
Q3 24	$23.1B	$7.9B	$1.1B	$14.5B	$11.9B
Q4 24	$31.7B	$11.0B	$1.5B	$19.7B	$15.8B
Q1 25	$25.1B	$8.2B	$1.2B	$16.2B	$11.5B
Q2 25	$25.1B	$8.8B	$1.2B	$17.5B	$11.1B
Q3 25	$25.1B	$8.8B	$1.2B	$16.1B	$12.0B
Q4 25	$34.2B	$12.1B	$1.7B	$21.4B	$16.6B
Q2 26	$27.1B	$9.9B	$1.4B	$19.2B	$12.1B

Revenue by Geography

Quarter	Canada	Other International Operations	United States
Q1 23	$7.4B	$6.9B	$40.1B
Q2 23	$7.3B	$7.8B	$40.1B
Q3 23	$7.3B	$7.3B	$39.0B
Q1 24	$7.9B	$8.1B	$41.8B
Q2 24	$7.9B	$8.6B	$42.0B
Q3 24	$8.0B	$8.1B	$42.4B
Q4 24	$11.1B	$10.7B	$57.9B
Q1 25	$8.4B	$8.7B	$45.1B
Q2 25	$8.3B	$9.0B	$46.4B
Q3 25	$8.3B	$8.6B	$46.3B

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$11.2B	$638M	$11.8B
Q4 22	$10.2B	$846M	$11.0B
Q1 23	$10.9B	$817M	$11.7B
Q2 23	$13.0B	$735M	$13.7B
Q3 23	$12.5B	$1.2B	$13.7B
Q4 23	$13.7B	$1.5B	$15.2B
Q1 24	$17.0B	$853M	$17.9B
Q2 24	$9.1B	$1.2B	$10.3B
Q3 24	$10.4B	$1.1B	$11.5B
Q4 24	$9.9B	$1.2B	$11.1B
Q1 25	$10.9B	$920M	$11.8B
Q2 25	$12.4B	$802M	$13.2B
Q3 25	$13.8B	$1.0B	$14.8B
Q4 25	$14.2B	$1.1B	$15.3B
Q1 26	$16.2B	$966M	$17.2B
Q2 26	$17.4B	$857M	$18.2B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 23	445M	—	—
Q2 23	444M	-0.0%	—
Q3 23	444M	-0.0%	—
Q4 23	444M	+0.0%	—
Q1 24	444M	-0.0%	-0.0%
Q2 24	445M	+0.1%	+0.1%
Q3 24	445M	+0.0%	+0.1%
Q4 24	445M	+0.0%	+0.1%
Q1 25	445M	0.0%	+0.1%
Q2 25	445M	-0.0%	+0.0%
Q3 25	445M	-0.0%	-0.0%
Q4 25	445M	-0.0%	-0.1%
Q1 26	445M	-0.0%	-0.1%
Q2 26	445M	0.0%	-0.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 23	$179.1K	304K
Q2 23	$181.8K	304K
Q3 23	$176.5K	304K
Q4 23	$259.7K	304K
Q1 24	$182.9K	316K
Q2 24	$184.9K	316K
Q3 24	$185.2K	316K
Q4 24	$239.3K	333K
Q1 25	$186.6K	333K
Q2 25	$191.4K	333K
Q3 25	$189.8K	333K
Q4 25	$252.7K	341K
Q1 26	$197.4K	341K
Q2 26	$204.1K	341K

Revenue / Employee