COSTCO WHOLESALE CORP /NEW

Listed Company

COSTCIK 0000909832NasdaqLarge AcceleratedRetail-Variety StoresWashingtonFY ends Aug 30

Period

FY 2025

Revenue

$275.24B

Net Income

$8.10B

Total Assets

$77.10B

Equity

$29.16B

Shares Out

443.65M

Op. Cash Flow

$13.34B

Business

COSTCO WHOLESALE CORP /NEW operates membership warehouses and e-commerce platforms that sell a limited-selection, low-price assortment to members. It offers core merchandise including foods, fresh foods, non-foods, and private-label Kirkland Signature items, along with ancillary services such as gasoline, pharmacy, optical, tire installation, travel and business center products. The company organizes operations into warehouse, warehouse ancillary and other businesses (including e-commerce, business centers and travel) and maintains global depots and logistics functions. Costco distributes through physical membership warehouses and online sites across North America, Europe, Asia, Australia and New Zealand.

Summary from filing dated 2025-10-08

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-08-31	FY 2024 2024-08-31	FY 2023 2023-08-31	FY 2022 2022-08-31	FY 2021 2021-08-31
Total revenue	275,235	254,453	242,290	226,954	195,929
Merchandise costs	239,886	222,358	212,586	199,382	170,684
Selling, general and administrative	24,966	22,810	21,590	19,779	18,537
Operating income	10,383	9,285	8,114	7,793	6,708
Interest expense	−154	−169	−160	−158	−171
Interest income and other, net	589	624	533	205	143
INCOME BEFORE INCOME TAXES	10,818	9,740	8,487	—	—
Provision for income taxes	2,719	2,373	2,195	1,925	1,601
NET INCOME	8,099	7,367	6,292	5,844	5,007
Basic (per share)	18.24	16.59	14.18	13.17	11.3
Diluted (per share)	18.21	16.56	14.16	13.14	11.27
Basic (shares)	444	444	444	444	443
Diluted (shares)	445	445	444	445	444

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-08-31	FY 2024 2024-08-31	FY 2023 2023-08-31	FY 2022 2022-08-31	FY 2021 2021-08-31
Cash and cash equivalents	14,161	9,906	13,700	10,203	11,258
Short-term investments	1,123	1,238	1,534	846	917
Receivables, net	3,203	2,721	2,285	2,241	1,803
Merchandise inventories	18,116	18,647	16,651	17,907	14,215
Other current assets	1,777	1,734	1,709	1,499	1,312
Total current assets	38,380	34,246	35,879	32,696	29,505
Property and equipment, net	31,909	29,032	26,684	24,646	23,492
Operating lease right-of-use assets	2,725	2,617	2,713	2,774	2,890
Other long-term assets	4,085	3,936	3,718	4,050	3,381
Total assets	77,099	69,831	68,994	64,166	59,268
Accounts payable	19,783	19,421	17,483	17,848	16,278
Accrued salaries and benefits	5,205	4,794	4,278	4,381	4,090
Accrued member rewards	2,677	2,435	2,150	1,911	1,671
Deferred membership fees	2,854	2,501	2,337	2,174	2,042
Other current liabilities	6,589	6,313	6,254	5,611	4,561
Total current liabilities	37,108	35,464	33,583	31,998	29,441
Long-term debt, excluding current portion	5,713	5,794	5,377	6,484	6,692
Long-term operating lease liabilities	2,460	2,375	2,426	2,482	2,642
Other long-term liabilities	2,654	2,576	2,550	2,555	2,415
TOTAL LIABILITIES	47,935	46,209	43,936	43,519	41,190
Preferred stock $.005 par value; 100,000,000 shares authorized; no shares issued and outstanding	0	0	0	0	0
Common Stock $.005 par value; 900,000,000 shares authorized; 443,237,000 and 442,126,000 shares issued and outstanding	2	2	2	2	4
Additional paid-in capital	8,282	7,829	7,340	6,884	7,031
Accumulated other comprehensive loss	−1,770	−1,828	−1,805	−1,829	−1,137
Retained earnings	22,650	17,619	19,521	15,585	11,666
TOTAL EQUITY	29,164	23,622	25,058	20,642	17,564
TOTAL LIABILITIES AND EQUITY	77,099	69,831	68,994	64,166	59,268

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-08-31	FY 2024 2024-08-31	FY 2023 2023-08-31	FY 2022 2022-08-31	FY 2021 2021-08-31
Depreciation and amortization	2,426	2,237	2,077	1,900	1,781
Non-cash lease expense	303	315	412	377	286
Stock-based compensation	860	818	774	724	665
Impairment of assets and other non-cash operating activities, net	117	9	−495	−39	−144
Merchandise inventories	559	−2,068	1,228	−4,003	−1,892
Accounts payable	404	1,938	−382	1,891	1,838
Other operating assets and liabilities, net	801	741	172	549	1,057
Net cash provided by operating activities	13,335	11,339	11,068	7,392	8,958
Additions to property and equipment	−5,498	−4,710	−4,323	−3,891	−3,588
Purchases of short-term investments	−1,028	−1,470	−1,622	−1,121	−1,331
Maturities of short-term investments	1,141	1,790	937	1,145	1,446
Other investing activities, net	74	−19	36	−48	−62
Net cash used in investing activities	−5,311	−4,409	−4,972	−3,915	−3,535
Repayments of short-term borrowings	−862	−920	−935	−6	0
Proceeds from short-term borrowings	816	928	917	53	41
Repayments of long-term debt	−103	−1,077	−75	−800	−94
Proceeds from issuance of long-term debt	0	498	0	0	0
Tax withholdings on stock-based awards	−393	−315	−303	−363	−312
Repurchases of common stock	−903	−700	−676	−439	−496
Cash dividend payments	−2,183	−9,041	−1,251	−1,498	−5,748
Financing lease payments and other financing activities, net	−147	−137	−291	−180	—
Net cash used in financing activities	−3,775	−10,764	−2,614	−4,283	−6,488
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	6	40	15	−249	46
Net change in cash and cash equivalents	4,255	−3,794	3,497	−1,055	−1,019
Interest	106	129	125	145	149
Income taxes paid, net	2,917	2,319	2,234	1,940	1,527
Capital expenditures included in liabilities	193	203	170	156	184

Filings

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