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COSTCO WHOLESALE CORP /NEWCOST

Sector
Consumer
Industry
Retail-Variety Stores
Exchange
Nasdaq

Stock Price $COST

Latest filings

You are here#2 of 17 in Consumer Staples by market cap

Filing record · 2016–202610-K1210-Q328-K130

COST filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 130 current reports (8-K) between 2016 and 2026.

  1. FY2019 annual report10-K · Oct ’19Oct ’19
  2. Leadership change8-K · Feb ’22Feb ’22
  3. Leadership change8-K · Oct ’25Oct ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  18. $275.24B
YoY changeLargest recent move+17.5%in FY21Latest +8.2%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All COST Financial Metrics56 metrics

Income Statement12

Balance Sheet25

Cash Flow14

Per Share5

02—Overview

COSTCO WHOLESALE CORP /NEW Financial Overview 2021–2025

Updated Jul 10, 2026

Costco’s membership fee revenue surged 10%a in FY2025 and accelerated to 14% growth early in FY2026, underscoring a remarkably sticky subscription model that serves as the primary engine for the retailer's profitability. This high-margin loyalty empowers the warehouse club to intentionally suppress merchandise markups, driving aggressive volume expansion and market share gains without sacrificing its bottom line.

The company's long-term trajectory highlights the success of this strategy. Net sales grew steadily from $192.05 billion in FY2021 to $269.9 billionb in FY2025, fueled by a rapidly expanding global footprint and consistently higher shopping frequency. Over this same period, operational efficiencies allowed Costco to continuously widen its profitability, expanding its gross margin by 20 basis points to reach 11.12% in FY2025. This financial discipline generated massive shareholder returns, including a $15.00 per share special cash dividend distributed in FY2024 that totaled approximately $6.7 billion.

This execution has earned Costco a massive premium from the market. Net income jumped to $8.1 billionc by the close of FY2025, and investors responded by assigning the stock a $418.1 billion market cap. Shares traded at $943.32 at the end of FY2025, valuing the business at a lofty 51.8x earnings as the company proved it could sustain double-digit top-line momentum, reaching 10% comparable sales growth by Q3 2026.

Recent Developments (Q2 and Q3 2026)

Costco sustained its robust top-line momentum in Q3 2026, generating $70.5 billiond in total revenue, representing a 12% increase year-over-year. This expansion translated to strong bottom-line results, with diluted earnings per share jumping to $4.93 from $4.28 in the prior year. The retailer also demonstrated confidence in its operational cash flow by raising its regular quarterly dividend to $1.47 per share in April 2026, up from $1.30. To sustain this trajectory, management allocated $6.5 billion in capital expenditures for FY2026 to fund new warehouse openings and digital initiatives.

Rising membership fee income—up 11% to $1.37 billione in the third quarter—and steady global footprint expansion provide a robust bull case for continued, high-margin profit growth. Conversely, the bear case highlights that at 52.8x earnings as of June 3, 2026, the stock's valuation is priced for perfection, leaving virtually no margin of safety if consumer spending decelerates.

What to watch: returns on the ongoing digital investments; pace of international and domestic warehouse openings.

03—Filings

Recent SEC Filings

  1. 8-KCOSTCO WHOLESALE CORP /NEW 8-K Report, Executive Changes (Oct 16, 2026)Costco Wholesale Corporation (COST) has filed an 8-K report detailing the compensation structure for its executive officers for fiscal year 2027. The filing outlines the approved bonus criteria, emphasizing a performance-driven approach tied to key financial metrics and expanding to include environmental and social objectives. This demonstrates a commitment to aligning executive incentives with both company performance and broader ESG (Environmental, Social, and Governance) goals. Investors should note the specific bonus targets for the Chief Executive Officer (CEO) and other executive officers, which include significant components based on sales and pre-tax income. The potential for variable payouts, ranging from zero up to 120% of target amounts, highlights the company's emphasis on achieving and exceeding performance goals. The inclusion of environmental and social metrics signifies a strategic move to integrate sustainability into executive compensation, reflecting evolving corporate responsibility expectations.
  2. 8-KCOSTCO WHOLESALE CORP /NEW 8-K Report, Corporate Update (Oct 14, 2026)Costco Wholesale Corporation (Nasdaq: COST) disclosed in this Form 8-K, filed October 14, 2026, that its Board of Directors declared a quarterly cash dividend of $1.47 per common share. The dividend is payable November 13, 2026, to shareholders of record at the close of business on October 30, 2026. The filing is a routine capital-return announcement under Item 8.01 (Other Events) and contains no earnings, guidance, or other financial results. For investors, the key takeaways are the dividend amount, the record and payment dates, and the implied yield on the stock. If the $1.47 quarterly rate is maintained, it annualizes to $5.88 per share. The press release also reports that Costco operates 939 warehouses across 14 countries and territories, and it includes standard forward-looking statement cautions covering economic conditions, competition, tariffs, labor costs, and other risks. The filing does not disclose whether the dividend is a change from the prior quarterly rate, so investors should compare it with the company's previous declarations to assess dividend growth. Revenue, margins, and comparable sales trends would need to come from the company's periodic reports and earnings releases.
  3. 8-KCOSTCO WHOLESALE CORP /NEW 8-K Report, Financial Results (Sep 24, 2026)Costco reported fourth-quarter fiscal 2026 results (16 weeks ended August 30, 2026) and full-year results (52 weeks). Q4 net sales rose 11.2% to $93.9 billion, and total revenue rose 11.1% to $95.7 billion including membership fees of $1.85 billion, up 7.3%. Q4 net income was $3.0 billion, or $6.75 per diluted share, up from $5.87 a year earlier. Management said the quarter included a non-recurring $0.15 per diluted share benefit from IEEPA tariff refunds, net of partial reinvestment in member prices. Excluding that benefit, net income grew about 12.3% and EPS about 12.4%. For the full year, net sales grew 10.1% to $297.2 billion and diluted EPS rose 14.0% to $20.76. Comparable sales were strong. Total company comparable sales grew 9.4% in Q4, or 6.7% excluding gasoline prices and foreign exchange, with U.S. adjusted comps at 7.2%. Traffic grew 3.3% and adjusted ticket grew 3.3%. Digitally-enabled comparable sales rose 19.5%, or 19.8% excluding FX. Engagement metrics held up: worldwide renewal was 89.8%, U.S. and Canada renewal was 92.3%, and total cardholders reached 150.4 million, up 3.6%. Gross margin fell 11 basis points to 11.02% as reported but improved 20 basis points excluding gasoline, and SG&A rose 27 basis points to 8.94%, or 2 basis points excluding gasoline. Balance sheet and cash flow remained solid. Full-year operating cash flow was $15.8 billion, up from $13.3 billion, and capital expenditures rose to $6.4 billion, reflecting continued expansion. Cash and equivalents increased to $20.2 billion against total debt of about $6.2 billion. The company ended the year with 939 warehouses and expects 967 by the end of fiscal 2027. Shareholder returns included $2.5 billion in dividends and $0.8 billion in buybacks. The filing itself is an earnings release under Item 2.02 and contains no new guidance beyond the warehouse opening plan.
  4. 8-KCOSTCO WHOLESALE CORP /NEW 8-K Report, Corporate Update (Jul 8, 2026)Costco Wholesale Corporation (COST) filed an 8-K on July 8, 2026, reporting its June retail-month sales results (the five weeks ended July 5, 2026) and announcing a quarterly cash dividend of $1.47 per share. Net sales for the month were $29.24 billion, up 10.6% from $26.44 billion a year earlier. Year-to-date net sales for the first 44 weeks reached $250.43 billion, up 10.1% from $227.46 billion. Total company comparable sales rose 8.8% for the five-week period and 8.3% for the 44 weeks. Excluding the effects of gasoline prices and foreign exchange, comparable sales growth was 7.0% for the month and 6.7% year to date, which indicates that fuel price inflation and currency movements contributed meaningfully to headline growth. Digitally-enabled comparable sales grew 20.9% for the month (21.5% ex-gas/FX-adjusted basis is 21.5%) and 21.5% year to date, continuing strong momentum in the e-commerce channel. The dividend of $1.47 per share is payable August 7, 2026, to shareholders of record at the close of business on July 24, 2026. The filing contains no material financial statement items, and the company reported 933 warehouses worldwide at the time of the release. The 8-K is primarily a routine monthly sales disclosure and dividend notice.
  5. 8-KCOSTCO WHOLESALE CORP /NEW 8-K Report, Financial Results (May 28, 2026)Costco reported third-quarter fiscal 2026 results (twelve weeks ended May 10, 2026) that show strong top-line momentum and solid profit growth. Net sales rose 11.6% to $69.15 billion, and total revenue rose 11.6% to $70.53 billion, helped by membership fees up 10.7% to $1.37 billion. Net income grew 15.2% to $2.19 billion, or $4.93 per diluted share, versus $4.28 a year earlier. Comparable sales grew 9.8% company-wide, but about 3.2 points of that reflects gasoline price and foreign exchange effects. Excluding those effects, comparable sales grew 6.6%, with traffic up 2.4% and adjusted ticket up 4.2%. Digitally-enabled comparable sales rose 21.5% (20.8% adjusted), and e-commerce site and app traffic rose 37%. Profitability was steady rather than expanding. Reported gross margin was 11.04%, down 21 basis points, though only 1 basis point lower excluding gasoline effects, and the core merchandise margin decline was roughly 46 basis points before adjustments. SG&A rose to 8.96% of sales, up 20 basis points, or 2 basis points excluding gasoline. Membership quality remained high, with a 89.7% worldwide renewal rate, a 92.2% U.S. and Canada renewal rate, 148.5 million total cardholders, and 41.2 million executive members. Over the first 36 weeks, net sales rose 9.6% and diluted EPS reached $14.01, up from $12.34. Balance sheet and cash flow remain strong. Cash and equivalents increased to $18.9 billion, and year-to-date operating cash flow was $11.1 billion against $4.2 billion of capital expenditures, which supports continued expansion. Management's warehouse pipeline shows 12 openings estimated for the remainder of fiscal 2026, which would bring the network to 940 locations. Investors should weigh the strong sales and membership trends against a modest margin pressure and the reliance on gasoline prices and currency for part of the reported growth.
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04—See also

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