Costco

Consumer Staples Consumer Staples Merchandise Retail Issaquah, Washington Last filing Oct 8, 2025 · FY2025

                    Revenue
                    FY2025
                
$275.2B
                    3y CAGR +6.6%
                    
                    P89
                    
                    +8.2%
                    
                    Net income
                    FY2025
                
$8.1B
                    Net margin +2.9%
                    
                    P39
                    
                    +9.9%
                    
                    Total assets
                    FY2025
                
$77.1B
                    ROA +10.5%
                    
                    P75
                    
                    +10.4%
                    
                    Operating cash flow
                    FY2025
                
$13.3B
                    FCF margin +2.8%
                    
                    P17
                    
                    +17.6%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

26 accounts · 10 years

Total assets $77.1B

Total liabilities $47.9B

Shareholders equity $29.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	5.1%	3.9%	5.7%	4.5%	5.7%	7.4%	5.5%	4.3%	3.5%	2.8%
Short Term Investments	0.4%	0.5%	0.6%	0.4%	0.5%	0.6%	0.7%	0.9%	1.0%	1.1%
Accounts Receivable	1.2%	1.1%	0.9%	1.0%	0.9%	0.9%	1.0%	1.2%	1.1%	1.1%
Inventory	6.6%	7.3%	6.9%	7.9%	7.3%	7.3%	7.5%	7.8%	7.6%	7.6%
Other Current Assets	0.6%	0.7%	0.7%	0.7%	0.7%	0.6%	0.7%	0.2%	0.2%	0.2%
Total Current Assets	13.9%	13.5%	14.8%	14.4%	15.1%	16.9%	15.4%	14.3%	13.4%	12.8%
Property,Plant and Equipment	11.6%	11.4%	11.0%	10.9%	12.0%	13.1%	13.7%	13.9%	14.1%	14.4%
Operating Lease Assets	1.0%	1.0%	1.1%	1.2%	1.5%	1.7%	0.0%	—	—	—
Other Noncurrent Assets	1.5%	1.5%	1.5%	1.8%	1.7%	1.7%	0.7%	0.6%	0.7%	0.8%
Total Assets	28.0%	27.4%	28.5%	28.3%	30.2%	33.3%	29.7%	28.8%	28.2%	27.9%
Liabilities
Accounts Payable	7.2%	7.6%	7.2%	7.9%	8.3%	8.5%	7.6%	7.9%	7.4%	6.4%
Accrued Liabilities	2.9%	2.8%	2.7%	2.8%	2.9%	3.0%	2.9%	2.9%	2.8%	2.9%
Deferred Revenue	1.0%	1.0%	1.0%	1.0%	1.0%	1.1%	1.1%	1.1%	1.2%	1.1%
Other Current Liabilities	2.4%	2.5%	2.6%	2.5%	2.3%	2.2%	2.5%	2.1%	2.1%	1.7%
Total Current Liabilities	13.5%	13.9%	13.9%	14.1%	15.0%	14.9%	15.2%	14.1%	13.6%	13.1%
Long Term Debt	2.1%	2.3%	2.2%	2.9%	3.4%	4.5%	3.4%	4.6%	5.1%	3.4%
Operating Lease Liabilities Noncurrent	0.9%	0.9%	1.0%	1.1%	1.3%	1.5%	0.0%	—	—	—
Other Noncurrent Liabilities	1.0%	1.0%	1.1%	1.1%	1.2%	1.2%	1.0%	0.9%	0.9%	1.0%
Total Liabilities	17.4%	18.2%	18.1%	19.2%	21.0%	22.1%	19.5%	19.6%	19.6%	17.5%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	3.0%	3.1%	3.0%	3.0%	3.6%	4.0%	4.2%	4.3%	4.5%	4.6%
Retained Earnings	8.2%	6.9%	8.1%	6.9%	6.0%	7.7%	6.7%	5.6%	4.6%	6.5%
Accumulated Other Comprehensive Income	-0.6%	-0.7%	-0.7%	-0.8%	-0.6%	-0.8%	-0.9%	-0.8%	-0.8%	-0.9%
Total Stockholders Equity	10.6%	9.3%	10.3%	9.1%	9.0%	11.0%	10.0%	9.0%	8.4%	10.2%
Total Liabilitiesand Equity	28.0%	27.4%	28.5%	28.3%	30.2%	33.3%	29.7%	28.8%	28.2%	27.9%

Income Statement

Revenue, expense, and profitability

12 accounts · 10 years

Revenue $275.2B

Operating income $10.4B

Net income $8.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	87.2%	87.4%	87.7%	87.9%	87.1%	86.9%	87.0%	87.0%	86.7%	86.7%
Expenses Selling,General and Administrative	9.1%	9.0%	8.9%	8.7%	9.5%	9.8%	9.8%	9.8%	10.0%	10.2%
Other Income Expense Operating Income	3.8%	3.6%	3.3%	3.4%	3.4%	3.3%	3.1%	3.2%	3.2%	3.1%
Other Income Expense Interest Expense	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%
Income Tax Income Tax Expense	1.0%	0.9%	0.9%	0.8%	0.8%	0.8%	0.7%	0.9%	1.0%	1.0%
net Income Other Items Below Tax	0.2%	0.2%	0.2%	-0.0%	-0.0%	-0.0%	-0.0%	-0.0%	-0.0%	-0.0%
net Income net Income	2.9%	2.9%	2.6%	2.6%	2.6%	2.4%	2.4%	2.2%	2.1%	2.0%
net Income Comprehensive Income	3.0%	2.9%	2.6%	2.3%	2.6%	2.5%	2.2%	2.1%	2.1%	2.0%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	0.2%	0.2%	0.2%	0.2%	0.2%	0.3%	0.3%	0.3%	0.3%	0.4%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 10 years

Operating cash flow $13.3B

Investing cash flow $-5.3B

Financing cash flow $-3.8B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	2.9%	2.9%	2.6%	2.6%	2.6%	2.4%	2.4%	2.2%	2.1%	2.0%
Operating Activities Depreciation and Amortization	1.0%	1.0%	1.0%	1.0%	1.1%	1.1%	1.0%	1.0%	1.1%	1.1%
Operating Activities Stock Based Compensation	0.3%	0.3%	0.3%	0.3%	0.3%	0.4%	0.4%	0.4%	0.4%	0.4%
Operating Activities Changes In Operating Assets and Liabilities	0.6%	0.2%	0.4%	-0.7%	0.5%	1.3%	0.3%	0.5%	1.7%	-0.9%
Operating Activities Other Non Cash Items	-0.0%	-0.0%	0.2%	0.0%	0.1%	0.0%	0.0%	-0.0%	-0.0%	-0.0%
Operating Activities net Cash From Operating Activities	4.8%	4.5%	4.6%	3.3%	4.6%	5.3%	4.2%	4.1%	5.2%	2.8%
Investing Activities Capital Expenditures	-2.0%	-1.9%	-1.8%	-1.7%	-1.8%	-1.7%	-2.0%	-2.1%	-1.9%	-2.2%
Investing Activities Purchases of Investments	-0.4%	-0.6%	-0.7%	-0.5%	-0.7%	-1.0%	-0.7%	-0.7%	-1.0%	-1.2%
Investing Activities Proceeds From Sale of Investments	0.4%	0.7%	0.4%	0.5%	0.7%	1.0%	0.8%	0.8%	1.1%	1.4%
Investing Activities Other Investing Activities	0.0%	-0.0%	0.0%	-0.0%	-0.0%	0.0%	-0.0%	0.0%	0.0%	0.0%
Investing Activities net Cash From Investing Activities	-1.9%	-1.7%	-2.1%	-1.7%	-1.8%	-2.3%	-1.9%	-2.1%	-1.8%	-2.0%
Financing Activities Proceeds From Debt	0.3%	0.6%	0.4%	0.0%	0.0%	2.4%	0.2%	0.0%	2.9%	0.2%
Financing Activities Repayment of Debt	-0.4%	-0.8%	-0.4%	-0.4%	-0.0%	-1.9%	-0.1%	-0.1%	-1.7%	-1.2%
Financing Activities Repurchase of Common Stock	-0.3%	-0.3%	-0.3%	-0.2%	-0.3%	-0.1%	-0.2%	-0.2%	-0.4%	-0.4%
Financing Activities Dividends Paid	-0.8%	-3.6%	-0.5%	-0.8%	-2.9%	-0.9%	-0.7%	-0.5%	-3.0%	-0.6%
Financing Activities Tax Withholding On Stock Based Compensation	-0.1%	-0.1%	-0.1%	-0.2%	-0.2%	-0.2%	-0.2%	-0.2%	-0.2%	-0.2%
Financing Activities Other Financing Activities	-0.1%	-0.1%	-0.1%	-0.5%	0.1%	0.0%	0.1%	0.0%	-0.2%	0.1%
Financing Activities net Cash From Financing Activities	-1.4%	-4.2%	-1.1%	-1.9%	-3.3%	-0.7%	-0.8%	-0.9%	-2.5%	-2.0%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%	0.0%	0.0%	-0.1%	0.0%	0.0%	-0.0%	-0.0%	0.0%	0.0%
Cash Reconciliation net Change In Cash	1.5%	-1.5%	1.4%	-0.5%	-0.5%	2.3%	1.5%	1.1%	0.9%	-1.2%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+12.8%	+12.6%	+12.3%	+12.1%	+12.9%	+13.1%	+13.0%	+13.0%	+13.3%	+13.3%
Operating margin	+3.8%	+3.6%	+3.3%	+3.4%	+3.4%	+3.3%	+3.1%	+3.2%	+3.2%	+3.1%
Net margin	+2.9%	+2.9%	+2.6%	+2.6%	+2.6%	+2.4%	+2.4%	+2.2%	+2.1%	+2.0%
FCF margin	+2.8%	+2.6%	+2.8%	+1.5%	+2.7%	+3.6%	+2.2%	+2.0%	+3.3%	+0.5%
Growth
Revenue CAGR (3y)	+6.6%	+9.1%	+13.3%	+14.1%	+11.4%	+8.9%	+8.8%	+6.8%	+4.6%	+4.1%
Returns
ROE	+27.8%	+31.2%	+25.1%	+28.3%	+28.5%	+21.9%	+24.0%	+24.5%	+24.9%	+19.5%
ROA	+10.5%	+10.5%	+9.1%	+9.1%	+8.4%	+7.2%	+8.1%	+7.7%	+7.4%	+7.1%
ROIC	+50.1%	+47.6%	+45.5%	+34.6%	+37.0%	+30.2%	+26.9%	+24.1%	+21.6%	+17.4%
Liquidity
Current ratio	1.03x	0.97x	1.07x	1.02x	1.00x	1.13x	1.01x	1.02x	0.99x	0.98x
Quick ratio	0.47x	0.36x	0.48x	0.39x	0.44x	0.56x	0.43x	0.39x	0.34x	0.30x
Leverage
D/E	1.64x	1.96x	1.75x	2.11x	2.35x	2.02x	1.96x	2.17x	2.34x	1.72x
Interest coverage	67.42x	54.94x	50.71x	49.32x	39.23x	33.97x	31.58x	28.18x	30.68x	27.61x
Efficiency
Asset turnover	3.57x	3.64x	3.51x	3.54x	3.31x	3.00x	3.36x	3.47x	3.55x	3.58x
Cash conversion cycle	+2d	+3d	+2d	+4d	-1d	-1d	+3d	+4d	+5d	+9d

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Costco

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