COST Q4 2023 Earnings Report — Costco Wholesale Corporation Revenue & Financial Results | Market Cap Arena

Costco Wholesale CorporationCOST

Q4 2023 Earnings

Reported October 10, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2023	Q3 2023	Q4 2022	QoQ Change	YoY Change
Revenue	$78.9B	$53.6B	—	47.1%	—
Op. Income	$2.8B	$1.7B	—	65.6%	—
Gross Margin	12.3%	12.1%	—	0.2pp	—
Net Margin	2.7%	2.4%	—	0.3pp	—
EPS (Diluted)	$4.86	$2.93	—	65.9%	—
Free Cash Flow	$2.2B	$721M	—	200.8%	—

Revenue Flow

Item	Amount
REVENUE	$78.9B
Cost of Revenue	$69.2B
GROSS PROFIT	$9.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$6.9B
Other Expenses	$0
Operating Expenses	$6.9B
Cost & Expenses	$76.2B
OPERATING INCOME	$2.8B
Interest Income	$212M
Interest Expense	$56M
Other Income/Expenses	$182M
INCOME BEFORE TAX	$3.0B
Income Tax Expense	$803M
Net Income from Continuing Ops	$2.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.2B
D&A	$688M
EBIT	$3.0B
EBITDA	$3.7B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$78.9B
Cost of Revenue	$69.2B
GROSS PROFIT	$9.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$6.9B
Other Expenses	$0
Operating Expenses	$6.9B
Cost & Expenses	$76.2B
OPERATING INCOME	$2.8B
Interest Income	$212M
Interest Expense	$56M
Other Income/Expenses	$182M
INCOME BEFORE TAX	$3.0B
Income Tax Expense	$803M
Net Income from Continuing Ops	$2.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.2B
D&A	$688M
EBIT	$3.0B
EBITDA	$3.7B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$2.2B
Depreciation & Amortization	$688M
Stock-Based Compensation	$131M
Deferred Income Tax	$0
Other Non-Cash Items	$166M
Change in Working Capital	$580M
OPERATING CASH FLOW	$3.7B
Capital Expenditure	-$1.6B
Acquisitions (Net)	$0
Purchases of Investments	-$675M
Sales/Maturities of Investments	$343M
Other Investing Activities	$63M
NET CASH FROM INVESTING	-$1.8B
Net Debt Issuance	-$278M
Common Stock Repurchased	-$230M
Common Dividends Paid	-$452M
Other Financing Activities	$296M
NET CASH FROM FINANCING	-$664M
FREE CASH FLOW	$2.2B
Net Change in Cash	$1.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$13.7B
Short-Term Investments	$1.5B
Net Receivables	$2.3B
Inventory	$16.7B
Other Current Assets	$1.7B
TOTAL CURRENT ASSETS	$35.9B
PP&E (Net)	$29.4B
Goodwill	$994M
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$2.7B
TOTAL NON-CURRENT ASSETS	$33.1B
TOTAL ASSETS	$69.0B
Account Payables	$17.5B
Short-Term Debt	$1.1B
Deferred Revenue	$0
Other Current Liabilities	$8.6B
TOTAL CURRENT LIABILITIES	$33.6B
Long-Term Debt	$5.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2.5B
TOTAL NON-CURRENT LIABILITIES	$10.4B
TOTAL LIABILITIES	$43.9B
Common Stock	$2M
Additional Paid-In Capital	$7.3B
Retained Earnings	$19.5B
Treasury Stock	$0
Accum. Other Comp. Income	-$1.8B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$25.1B
Minority Interest	$0
TOTAL EQUITY	$25.1B
TOTAL LIABILITIES & EQUITY	$69.0B
Total Debt	$8.9B
Net Debt	-$4.8B