Stock research
Costco runs a membership warehouse-club model that earns much of its profit from annual membership fees rather than product markups.
For the fiscal year ended August 31, 2025, Costco Wholesale Corporation reported revenue of $275.2B and net income of $8.1B, with operating cash flow of $13.3B. Source: Form 10-K filed October 8, 2025
Reviewed · SEC data as of
Reported SEC XBRL figures. Each metric’s period and original filing are listed below.
Delayed Cboe One market data via TradingView. It may differ from primary-exchange or consolidated quotes.
High renewal rates and bulk pricing have built a loyal customer base.
Reported figures from Costco Wholesale Corporation's filings, pulled directly from SEC XBRL data rather than a third-party terminal. Each row links to the filing it came from.
| Metric | Value | Period | Source |
|---|---|---|---|
| Revenue | $275.2B | 2024-09-02 – 2025-08-31 | SEC filing |
| Net income | $8.1B | 2024-09-02 – 2025-08-31 | SEC filing |
| Operating cash flow | $13.3B | 2024-09-02 – 2025-08-31 | SEC filing |
| Diluted EPS | $18.21 | 2024-09-02 – 2025-08-31 | SEC filing |
| Net margin | 2.9% | 2024-09-02 – 2025-08-31 | SEC filing |
| Shares outstanding | 444M | As of 2025-12-10 | SEC filing |
Values are as tagged by the issuer in XBRL. Revenue for banks and insurers is net of interest expense where that is the reported line. Fiscal years that do not follow the calendar are shown by their period-end date. No price, market cap, or valuation multiple is shown because Yield Theory does not republish unlicensed market data.
Diluted EPS is the earnings figure behind the price-to-earnings ratio; the P/E multiple compression calculator shows how a change in that multiple moves a share price. Shares outstanding multiplied by the share price gives market capitalization.
For Costco Wholesale Corporation, the most important recurring operating and market variables are:
Each question starts with what the filings show, then why it matters. None of these is a rating or a forecast.
Membership fee revenue rose 10% to $5.3 billion in fiscal 2025 on 81.0 million paid members and 145.2 million cardholders, with renewal rates of 92.3% in the U.S. and Canada and 89.8% worldwide. Compare fee revenue with audited net income of $8.1 billion to see how much of earnings the subscription-like base supports.
Net sales increased 8% to $269.9 billion, driven by comparable sales and 24 net new warehouses, bringing the count to 914 across 14 countries. Item 1A highlights dependence on U.S. and Canadian operations, which produced 86% of net sales, and cannibalization risk from openings in existing markets.
Gross margin percentage rose 20 basis points in fiscal 2025, or 11 basis points excluding gasoline price deflation, while gasoline was about 10% of net sales and e-commerce about 7%. Item 1A notes that gasoline, e-commerce, and tariffs each pressure gross margin differently; read the MD&A for the mix effects.
Item 1A explicitly states that the stock price reflects high market expectations for comparable sales, membership fee revenue, gross margin, and openings, and that missing them could cause a decline. Audited fiscal 2025 revenue was $275.2 billion and diluted EPS $18.21, up 10%; test whether those growth rates justify the multiple.
Operating cash flow was $13.3B, 1.65 times net income of $8.1B, for the fiscal year ended August 31, 2025.
Cash from operations exceeded reported earnings. Non-cash charges such as depreciation, amortization and stock-based compensation usually explain the gap; the cash-flow statement shows which.
Net income was 2.9% of revenue for the fiscal year ended August 31, 2025, based on revenue and net income reported for the same period.
Net margin reflects the business model as much as execution, so compare it with companies in the same SEC industry and read the income statement for one-time items before treating it as a run rate.
The SEC lists Costco Wholesale Corporation's fiscal year end as August 30, not December 31. The latest annual figures here run from September 2, 2024 to August 31, 2025. Its reporting year ends on a nearby date rather than a fixed calendar day.
Annual results cover a different 12 months from calendar-year peers. Align periods before comparing growth or margins across companies.
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| Politician | Trade date | Type | Owner | Amount | Source |
|---|---|---|---|---|---|
| Rich McCormick | 2026-07-30 | Sale | Self | $1,001 - $15,000 | Filing #20035204 |
| Dan Newhouse | 2026-07-10 | Purchase | Spouse | $1,001 - $15,000 | Filing #20034998 |
| Alan Armstrong | 2026-03-27 | Purchase | Self | $1,001 - $15,000 | Filing #fda235b3-bad7-4637-8fa1-053f354d929c |
| Gilbert Cisneros | 2026-01-30 | Purchase | Self | $1,001 - $15,000 | Filing #20033983 |
| Gilbert Cisneros | 2025-12-24 | Sale | Self | $1,001 - $15,000 | Filing #20033762 |
| Rich McCormick | 2025-11-05 | Purchase | Self | $1,001 - $15,000 | Filing #20033610 |
| Gilbert Cisneros | 2025-10-17 | Purchase | Self | $1,001 - $15,000 | Filing #20033455 |
| Shelley Capito | 2025-10-17 | Sale | Spouse | $1,001 - $15,000 | Filing #defd46d8-f9db-46d6-96f9-77bebce203b6 |
| John Boozman | 2025-10-09 | Purchase | Joint | $1,001 - $15,000 | Filing #97a4172e-e2d9-4dea-9014-d8aa2134d628 |
| Valerie Hoyle | 2025-09-23 | Sale | Spouse | $1,001 - $15,000 | Filing #20032211 |
All verified COST congressional disclosures
Congressional disclosures are delayed, range-based records—not real-time signals or proof of motive. See the source-linked tracker for scope and limitations.
Costco runs a membership warehouse-club model that earns much of its profit from annual membership fees rather than product markups.
For the fiscal year ended August 31, 2025, Costco Wholesale Corporation reported revenue of $275.2B and net income of $8.1B, with operating cash flow of $13.3B. The figures come from Costco Wholesale Corporation's SEC XBRL filings.
The SEC lists Costco Wholesale Corporation's fiscal year end as August 30.
The current verified House and Senate snapshot contains 30 transaction rows for COST, each linked to the original filing.
Costco Wholesale Corporation is headquartered in Issaquah, Washington and was founded in 1983.
This page does not rate COST as a buy or sell. It sets out what Costco Wholesale Corporation reports, what investors should watch and the questions a thesis has to answer, with links to the SEC filings. It is research, not investment advice.
This page is independent research and educational information, not investment advice or a recommendation to buy or sell any security. Company facts are compiled from public sources. Do your own research.
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