Costco COST
Nasdaq · Retail-Variety Stores · $464.1BNo closes on file for COST yet.
Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.
2 stories have a settled next close so far (2 on the Wire). The record starts speaking at three.
The numbers
fiscal 2026, as filed with the SEC · 66-metric EOD snapshot via DatabentoMarket cap$464.1B
EV / True FCF53.2x
Revenue$303.2B +10.1%
True FCF (ex-SBC)$8.5B +19.7%
Rule of 4013.2%
ROIC40.4%
True FCF Yield1.8%
EPS, diluted$20.76 +14.0%
Modern Valuation (EOD)
Market Cap$464.1B
Enterprise Value$450.0B
EV / True FCF53.21
EV / FCF47.97
EV / Gross Profit—
EV / EBIT38.51
EV / Sales1.48
P / E (GAAP)50.30
P / FCF49.47
P / Oper. CF29.34
P / Book12.96
Owner & Cash Yields
True FCF Yield1.8%
FCF Yield2.0%
Owner Earn. Yield1.0%
Earnings Yield2.0%
Shareholder Yield+0.5%
Buyback Yield0.2%
Dividend Yield—
Dividend / sh$5.54
Payout Ratio27%
FCF / sh$21.17
EPS (diluted)$20.76
Compounder & Returns
Rule of 4013.2%
ROIC40.4%
Cash ROIC (CROIC)43.1%
GP / Assets—
ROE25.8%
ROA10.4%
Gross Margin—
Oper. Margin3.9%
Net Margin3.0%
FCF Margin3.1%
True FCF Margin2.8%
Quality & Dilution
Cash Conversion102%
Accrual Ratio−7.4%
SBC % of FCF9.8%
SBC % of Rev0.3%
Reinvest. Rate41%
Sales Growth Y/Y+10.1%
Sales 3Y CAGR+7.8%
EPS Growth Y/Y+14.0%
FCF Growth Y/Y+19.7%
FCF 3Y CAGR+11.6%
Share Change Y/Y−0.1%
Balance Sheet & Scale
Revenue (FY)$303.2B
Gross Profit (FY)—
Oper. Income (FY)$11.7B
GAAP Net Income$9.2B
True FCF (ex-SBC)$8.5B
Cash & Equiv$20.2B
Total Debt$6.2B
Net Cash (Debt)$14.0B
Net Cash % MCap+3.0%
Debt / FCF (yrs)0.7y
Current Ratio1.06443.13M sh
Price & Technicals (EOD)
Perf Week—
Perf Month—
Perf Quarter—
Perf Half Y—
Perf YTD—
SMA 20 Dist—
SMA 50 Dist—
SMA 100 Dist—
Window High—
Window Low—
RSI (14) · Vol—
Income Distribution & Cash Flow ConversionHow every dollar of COST revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow
Where Every $100 of Revenue Goes (FY2026)
Cost of Revenue (COGS)$264.3B ($87.2 / $100)
SG&A & Other OpEx$27.2B ($9.0 / $100)
Tax & Non-Operating$2.5B ($0.8 / $100)
Net Profit Kept$9.2B ($3.0 / $100)
Earnings Quality: GAAP Profit → True Owner Cash (FY2026)
GAAP Net Income$9.2B (3.0% margin)
Operating Cash Flow (OCF)$15.8B(5.2% of rev)
Less: Capital Expenditures−$6.4B(2.1% of rev)
Standard Free Cash Flow (FCF)$9.4B(3.1% margin)
Less: Stock-Based Comp (SBC)−$924.0M(9.8% of FCF)
True FCF (Owner Cash ex-SBC)$8.5B(2.8% of rev)
Revenue by fiscal year
Operating leverage — margins
GrossOperatingNet
| Line Item (USD) | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY Δ | 4Y CAGR | Trend |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | $227.0B | $242.3B | $254.5B | $275.2B | $303.2B | +10.1% | +7.5% | |
| Cost of Revenue (COGS) | $199.4B | $212.6B | $222.4B | $239.9B | $264.3B | +10.2% | +7.3% | |
| Selling, General & Admin (SG&A) | $19.8B | $21.6B | $22.8B | $25.0B | $27.2B | +8.9% | +8.3% | |
| Operating Income (EBIT) | $7.8B | $8.1B | $9.3B | $10.4B | $11.7B | +12.5% | +10.7% | |
| Interest Expense | $158.0M | $160.0M | $169.0M | $154.0M | $145.0M | −5.8% | −2.1% | |
| Income Tax Expense | $1.9B | $2.2B | $2.4B | $2.7B | $3.0B | +11.3% | +12.0% | |
| GAAP Net Income | $5.8B | $6.3B | $7.4B | $8.1B | $9.2B | +13.9% | +12.1% | |
| Diluted EPS | $13.14 | $14.16 | $16.56 | $18.21 | $20.76 | +14.0% | +12.1% | |
| Diluted Shares | 444.8M | 444.5M | 444.8M | 444.8M | 444.4M | −0.1% | −0.0% | |
| Balance Sheet | ||||||||
| Cash & Equivalents | $10.2B | $13.7B | $9.9B | $14.2B | $20.2B | +42.7% | +18.6% | |
| Inventory | $17.9B | $16.7B | $18.6B | $18.1B | $19.3B | +6.7% | +1.9% | |
| Total Current Assets | $32.7B | $35.9B | $34.2B | $38.4B | $46.6B | +21.4% | +9.3% | |
| Total Assets | $64.2B | $69.0B | $69.8B | $77.1B | $89.0B | +15.5% | +8.5% | |
| Total Current Liabilities | $32.0B | $33.6B | $35.5B | $37.1B | $44.0B | +18.4% | +8.3% | |
| Total Debt (Short + Long Term) | $6.6B | $6.5B | $5.9B | $5.8B | $6.2B | +6.5% | −1.5% | |
| Total Liabilities | $43.5B | $43.9B | $46.2B | $47.9B | $53.2B | +11.1% | +5.2% | |
| Stockholders' Equity | $20.6B | $25.1B | $23.6B | $29.2B | $35.8B | +22.8% | +14.8% | |
| Net Cash / (Net Debt) | $3.6B | $7.2B | $4.0B | $8.4B | $14.0B | +67.7% | +40.1% | |
| Invested Capital | $17.0B | $17.8B | $19.6B | $20.8B | $21.8B | +4.7% | +6.4% | |
| Cash Flow & Capital Allocation | ||||||||
| Operating Cash Flow (OCF) | $7.4B | $11.1B | $11.3B | $13.3B | $15.8B | +18.6% | +20.9% | |
| Depreciation & Amortization (D&A) | $1.9B | $2.1B | $2.2B | $2.4B | $2.7B | +10.2% | +8.9% | |
| Stock-Based Compensation (SBC) | $724.0M | $774.0M | $818.0M | $860.0M | $924.0M | +7.4% | +6.3% | |
| Capital Expenditures (CapEx) | $3.9B | $4.3B | $4.7B | $5.5B | $6.4B | +17.0% | +13.4% | |
| Free Cash Flow (FCF) | $3.5B | $6.7B | $6.6B | $7.8B | $9.4B | +19.7% | +27.9% | |
| True FCF (ex-SBC Owner Cash) | $2.8B | $6.0B | $5.8B | $7.0B | $8.5B | +21.2% | +32.1% | |
| Share Repurchases (Buybacks) | $439.0M | $676.0M | $700.0M | $903.0M | $848.0M | −6.1% | +17.9% | |
| Dividends Paid | $1.5B | $1.3B | $9.0B | $2.2B | $2.5B | +12.6% | +13.2% | |
Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.
On the Wire
what COST did at the next close after each storySep 24
Costco reports fourth-quarter and fiscal 2026 operating results
+2.93%GlobeNewswire · 4:15 PM ET
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