COST (Costco Wholesale Corporation) Stock Financials & Earnings

Company Info & Key Metrics

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, Aus...

CEORon Vachris

Country🇺🇸 United States

ExchangeNASDAQ

IPOJul 9, 1986

www.costco.com

Revenue$69.6B

YoY Growth+9.2%

QoQ Growth+3.4%

Net Income$2.0B

EPS-$4.50

Free Cash Flow$1.7B

Gross Margin12.8%

Op. Margin3.7%

Net Margin2.9%

FCF Margin2.5%

Rev Multiple (TTM)1.6x

P/E Ratio (TTM)52.1x

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
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

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q3 23	0.9x	36.9x
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
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

CapEx

Quarter	CapEx
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

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 23	+2.0%	+2.3%
Q4 23	+9.5%	+9.4%
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
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
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
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

Revenue by Geography

Quarter	Canada	Other International Operations	United States
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 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
Q3 23	444M	-0.0%
Q4 23	444M	+0.0%
Q1 24	444M	-0.0%
Q2 24	445M	+0.1%
Q3 24	445M	+0.0%
Q4 24	445M	+0.0%
Q1 25	445M	+0.0%
Q2 25	445M	-0.0%
Q3 25	445M	-0.0%
Q4 25	445M	-0.0%
Q1 26	445M	-0.0%
Q2 26	445M	+0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$578K	195K
FY 15	$567K	205K
FY 16	$545K	218K
FY 17	$592K	218K
FY 18	$613K	231K
FY 19	$623K	245K
FY 20	$611K	273K
FY 21	$680K	288K
FY 22	$747K	304K
FY 23	$767K	316K
FY 24	$764K	333K
FY 25	$807K	341K