Costco Wholesale (COST) financial statements
Costco Wholesale reported revenue of $303.2B in fiscal 2026, up 10.0% a year over 9 years.
Net income was $9.2B and the operating margin 3.9%, against 3.2% in 2017.
Free cash flow was $9.4B, and the company returned $2.5B in dividends and $848M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Costco Wholesale's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $129.0B | $141.6B | $152.7B | $166.8B | $195.9B | $227.0B | $242.3B | $254.5B | $275.2B | $303.2B |
| Cost of revenue | $111.9B | $123.2B | $132.9B | $144.9B | $170.7B | $199.4B | $212.6B | $222.4B | $239.9B | $264.3B |
| Gross profit | $17.1B | $18.4B | $16.5B | $21.8B | $25.2B | $27.6B | $29.7B | $32.1B | $35.3B | — |
| Selling, general and admin | $12.9B | $13.9B | $15.0B | $16.4B | $18.5B | $19.8B | $21.6B | $22.8B | $25.0B | $27.2B |
| Operating income | $4.1B | $4.5B | $4.7B | $5.4B | $6.7B | $7.8B | $8.1B | $9.3B | $10.4B | $11.7B |
| Interest expense | $134M | $159M | $150M | $160M | $171M | $158M | $160M | $169M | $154M | $145M |
| Pre-tax income | $4.0B | $4.4B | $4.8B | $5.4B | $6.7B | $7.8B | $8.5B | $9.7B | $10.8B | $12.3B |
| Income tax | $1.3B | $1.3B | $1.1B | $1.3B | $1.6B | $1.9B | $2.2B | $2.4B | $2.7B | $3.0B |
| Net income | $2.7B | $3.1B | $3.7B | $4.0B | $5.0B | $5.8B | $6.3B | $7.4B | $8.1B | $9.2B |
| EPS (diluted) | $6.08 | $7.09 | $8.26 | $9.02 | $11.27 | $13.14 | $14.16 | $16.56 | $18.21 | $20.76 |
| Diluted shares | 441M | 442M | 443M | 444M | 444M | 445M | 444M | 445M | 445M | 444M |
| Gross margin | 13.3% | 13.0% | 10.8% | 13.1% | 12.9% | 12.1% | 12.3% | 12.6% | 12.8% | — |
| Operating margin | 3.2% | 3.2% | 3.1% | 3.3% | 3.4% | 3.4% | 3.3% | 3.6% | 3.8% | 3.9% |
| Net margin | 2.1% | 2.2% | 2.4% | 2.4% | 2.6% | 2.6% | 2.6% | 2.9% | 2.9% | 3.0% |
Balance sheet
Fiscal years, from Costco Wholesale's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $5.8B | $7.3B | $9.4B | $13.3B | $12.2B | $11.0B | $15.2B | $11.1B | $15.3B | $21.3B |
| Receivables | $1.4B | $1.7B | $1.5B | $1.6B | $1.8B | $2.2B | $2.3B | $2.7B | $3.2B | $4.0B |
| Inventory | $9.8B | $11.0B | $11.4B | $12.2B | $14.2B | $17.9B | $16.7B | $18.6B | $18.1B | $19.3B |
| Total current assets | $17.3B | $20.3B | $23.5B | $28.1B | $29.5B | $32.7B | $35.9B | $34.2B | $38.4B | $46.6B |
| Property, plant and equipment | $18.2B | $19.7B | $20.9B | $21.8B | $23.5B | $24.6B | $26.7B | $29.0B | $31.9B | $35.6B |
| Goodwill | — | — | $53M | $988M | $996M | $993M | $994M | $994M | $994M | $994M |
| Total assets | $36.3B | $40.8B | $45.4B | $55.6B | $59.3B | $64.2B | $69.0B | $69.8B | $77.1B | $89.0B |
| Total current liabilities | $17.5B | $19.9B | $23.2B | $24.8B | $29.4B | $32.0B | $33.6B | $35.5B | $37.1B | $44.0B |
| Long-term debt | $6.6B | $6.5B | $5.1B | $7.5B | $6.7B | $6.5B | $5.4B | $5.8B | $5.7B | $3.9B |
| Total liabilities | $25.3B | $27.7B | $29.8B | $36.9B | $41.2B | $43.5B | $43.9B | $46.2B | $47.9B | $53.2B |
| Shareholders' equity | $10.8B | $12.8B | $15.2B | $18.3B | $17.6B | $20.6B | $25.1B | $23.6B | $29.2B | $35.8B |
| Net debt | $2.1B | $522M | -$1.6B | -$4.7B | -$3.8B | -$3.6B | -$7.2B | -$4.0B | -$8.4B | -$14.0B |
Cash flow
Fiscal years, from Costco Wholesale's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $6.7B | $5.8B | $6.4B | $8.9B | $9.0B | $7.4B | $11.1B | $11.3B | $13.3B | $15.8B |
| Capital spending | $2.5B | $3.0B | $3.0B | $2.8B | $3.6B | $3.9B | $4.3B | $4.7B | $5.5B | $6.4B |
| Free cash flow | $4.2B | $2.8B | $3.4B | $6.1B | $5.4B | $3.5B | $6.7B | $6.6B | $7.8B | $9.4B |
| Stock-based compensation | $514M | $544M | $595M | $619M | $665M | $724M | $774M | $818M | $860M | $924M |
| Dividends paid | $3.9B | $689M | $1.0B | $1.5B | $5.7B | $1.5B | $1.3B | $9.0B | $2.2B | $2.5B |
| Share buybacks (net) | -$469M | -$328M | -$247M | -$196M | -$496M | -$439M | -$676M | -$700M | -$903M | -$848M |
| Net borrowing | $1.6B | -$86M | $209M | $792M | -$94M | -$800M | -$75M | -$579M | -$103M | $427M |
| Free cash flow margin | 3.3% | 2.0% | 2.2% | 3.6% | 2.7% | 1.5% | 2.8% | 2.6% | 2.8% | 3.1% |
| Dividends per share | $8.85 | $1.56 | $2.34 | $3.33 | $12.94 | $3.37 | $2.81 | $20.33 | $4.91 | $5.53 |
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Open COST in InvestinglyQuestions
What was Costco Wholesale's revenue in 2026?
$303.2B in fiscal 2026, from its 10-K filing.
How much free cash flow does Costco Wholesale generate?
$9.4B in fiscal 2026 (operating cash flow minus capital spending).
From Costco Wholesale's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.