Costco Wholesale Corporation

COST

Costco Wholesale Corporation

Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Costco Wholesale Corporation.

R40: 14 · 2026 Q3 $414.96B
$933.51
News

Coverage

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Rule of 40 2026 Q3
14.5
✗ Below 40
Revenue Growth YoY +11.6%
+
FCF Margin +2.9%
History
3
Q4
2024 R40 +8
11
Q1
12
Q2
12
Q3
10
Q4
2025 R40 +11
13
Q1
12
Q2
14
Q3
ANALYST RATINGS
Buy $1077
Consensus as of Aug 19, 2026
COST
Roth MKM Sell $781
Reiterated
2026-08-06
Evercore ISI Outperform $1,100
Reiterated
2026-08-06
Bernstein Outperform $1,194
Reiterated
2026-08-06
Goldman Sachs Buy $1,159
Reiterated
2026-08-06
Deutsche Bank Buy $1,106
Reiterated
2026-08-06

See all 7 ratings →

Revenue

Latest: $70.53B (2026Q3)

Period Value
2020Q4 $53.38B
2021Q1 $43.21B
2021Q2 $44.77B
2021Q3 $45.28B
2021Q4 $62.67B
2022Q1 $50.36B
2022Q2 $51.90B
2022Q3 $52.60B
2022Q4 $72.09B
2023Q1 $54.44B
2023Q2 $55.27B
2023Q3 $53.65B
2023Q4 $78.94B
2024Q1 $57.80B
2024Q2 $58.44B
2024Q3 $58.52B
2024Q4 $79.70B
2025Q1 $62.15B
2025Q2 $63.72B
2025Q3 $63.20B
2025Q4 $86.16B
2026Q1 $67.31B
2026Q2 $69.60B
2026Q3 $70.53B
EPS

Latest: $4.93 (2026Q3)

Period Value
2020Q4 $3.13
2021Q1 $2.62
2021Q2 $2.14
2021Q3 $2.75
2021Q4 $3.76
2022Q1 $2.98
2022Q2 $2.92
2022Q3 $3.04
2022Q4 $4.20
2023Q1 $3.07
2023Q2 $3.30
2023Q3 $2.93
2023Q4 $4.86
2024Q1 $3.58
2024Q2 $3.92
2024Q3 $3.78
2024Q4 $5.28
2025Q1 $4.04
2025Q2 $4.02
2025Q3 $4.28
2025Q4 $5.87
2026Q1 $4.50
2026Q2 $4.58
2026Q3 $4.93
P/E Ratio

Latest: 50.7 (2026Q3)

Period Value
2020Q4 35.4
2021Q1 37.0
2021Q2 32.0
2021Q3 33.7
2021Q4 38.4
2022Q1 44.2
2022Q2 39.9
2022Q3 35.1
2022Q4 38.0
2023Q1 39.1
2023Q2 34.2
2023Q3 36.5
2023Q4 37.4
2024Q1 39.0
2024Q2 48.1
2024Q3 49.7
2024Q4 53.4
2025Q1 56.7
2025Q2 60.9
2025Q3 58.8
2025Q4 51.7
2026Q1 48.9
2026Q2 53.0
2026Q3 50.7
Free Cash Flow

Latest: $2.04B (2026Q3)

Period Value
2020Q4 $3.39B
2021Q1 $1.75B
2021Q2 -$535M
2021Q3 $2.31B
2021Q4 $1.85B
2022Q1 $2.20B
2022Q2 -$322M
2022Q3 $373M
2022Q4 $1.25B
2023Q1 $1.55B
2023Q2 $2.30B
2023Q3 $721M
2023Q4 $2.17B
2024Q1 $3.61B
2024Q2 -$300M
2024Q3 $1.94B
2024Q4 $1.38B
2025Q1 $2.00B
2025Q2 $1.61B
2025Q3 $2.33B
2025Q4 $1.90B
2026Q1 $3.16B
2026Q2 $1.71B
2026Q3 $2.04B
Shares

Latest: $443,869,411.00 (2026Q1)

Period Value
2018Q3 $438,541,544.00
2019Q1 $440,490,478.00
2019Q2 $439,880,257.00
2019Q3 $439,789,186.00
2019Q4 $439,656,950.00
2020Q1 $441,757,627.00
2020Q2 $441,579,952.00
2020Q3 $441,523,711.00
2021Q1 $442,955,229.00
2021Q2 $442,533,785.00
2021Q3 $442,069,091.00
2022Q1 $443,432,486.00
2022Q2 $443,224,290.00
2022Q3 $442,962,949.00
2023Q1 $443,729,036.00
2023Q2 $443,483,205.00
2023Q3 $443,148,481.00
2024Q1 $443,728,416.00
2024Q2 $443,504,036.00
2024Q3 $443,335,024.00
2025Q1 $443,898,870.00
2025Q2 $443,683,357.00
2025Q3 $443,477,086.00
2026Q1 $443,869,411.00
Cumulative FCF

Latest: $55.96B (2026Q3)

Period Value
2020Q4 $18.97B
2021Q1 $20.73B
2021Q2 $20.19B
2021Q3 $22.50B
2021Q4 $24.34B
2022Q1 $26.55B
2022Q2 $26.22B
2022Q3 $26.60B
2022Q4 $27.84B
2023Q1 $29.40B
2023Q2 $31.70B
2023Q3 $32.42B
2023Q4 $34.59B
2024Q1 $38.20B
2024Q2 $37.90B
2024Q3 $39.84B
2024Q4 $41.22B
2025Q1 $43.21B
2025Q2 $44.83B
2025Q3 $47.15B
2025Q4 $49.05B
2026Q1 $52.22B
2026Q2 $53.92B
2026Q3 $55.96B
Just reported

Latest results

See all COST earnings → Investor relations →

Background

Company History

Exchange
NASDAQ
IPO Date
Dec 5, 1985
IPO Price
$10.00
as issued; not split-adjusted, so not comparable to the current price
Shares Outstanding
444.5M
1983
Founding of Costco

Founded on September 15, 1983, in Seattle by James Sinegal and Jeffrey Brotman, opening first warehouse selling to small businesses at 8-9% markup over wholesale.

1993
PriceClub Merger

Merged with Price Club to form PriceCostco, combining 206 locations and $16 billion in sales, with universal memberships.

1997
Reversion to Costco Name

Merged company reverted to Costco name and stock symbol, rebranding all Price Club locations.

2005
First Warehouse Replacement

Replaced original Seattle warehouse with new building; demolished old for parking lot, gas station, and car wash (opened 2006).

2019
First Store in China

Opened first warehouse in Shanghai on August 27, 2019; closed early due to overwhelming demand.

2020
Acquisition of Innovel

Acquired logistics company Innovel for $1 billion.

2024
Membership Fee Increase

Raised fees (Gold Star/Business $60 to $65, Executive $120 to $130); implemented barcode scanners and restricted food court to members.

2025
Lawsuit Against Federal Government

Filed lawsuit seeking refund of tariffs imposed by Trump Administration, challenging use under International Emergency Economic Powers Act.

Leadership

Key Players

showing 6 of 17

Ron Vachris
President and Chief Executive Officer
CEO since January 2024, succeeding Craig Jelinek. Previously served as President and COO from February 2022. Started at Costco as a forklift driver in 1982 and rose through warehouse operations, merchandising, and regional management roles.

The CEO view — 1 appearance →

Gary Millerchip
Executive Vice President and Chief Financial Officer
CFO since March 2024, succeeding longtime CFO Richard Galanti. Previously served as CFO of The Kroger Co. Brings extensive retail financial leadership and capital allocation experience.
Russ Miller
Senior Executive Vice President, COO — Warehouse Operations, U.S. and Mexico
Oversees Costco's core U.S. and Mexico warehouse operations. Also serves on Costco's Board of Directors since 2024. Longtime Costco executive with deep operational expertise across merchandising and regional management.
Pierre Riel
Executive Vice President, COO — International Division
Leads Costco's international operations spanning Canada, UK, Japan, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden.
Patrick J. Callans
Executive Vice President, Administration
Oversees administrative functions including human resources, legal, loss prevention, and information systems. Joined Costco executive leadership in 2019.
Joseph P. Portera
Executive Vice President, COO — Eastern and Canadian Divisions
Manages Costco's Eastern U.S. and Canadian warehouse operations. Long-tenured executive who has overseen significant expansion in these key markets.

See all 17 key players →

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By latest reported 13F position value. Market value at quarter-end, not cost basis.