On competitive factors:
Competition Our industry is highly competitive, based on factors such as price, merchandise quality and selection, location, convenience, distribution strategy, and customer service.
COSTCO WHOLESALE CORP /NEW (COST) single-company analysis
This page is a descriptive assembly from a frozen evidence pack of public SEC filing excerpts and verified SEC companyfacts metrics. It is not a rating, recommendation, endorsement, forecast, valuation, or investment advice. Filer viewpoints are attributed to the filer and figures are as of their cited filing dates.
Informational only - not investment advice. See Disclaimer.
Back to COST company profile. Existing company-page SVG figures remain the source for financial time-series context.
Business & segments
On membership warehouses:
Approximately 95% are employed in our membership warehouses and distribution channels.
On e-commerce operations:
Our e-commerce operations give members convenience and a broader selection of goods and services.
On supply diversification:
For future product supply need, we pursue diversification in our supply-chain and seek to expand in-country production.
Financial profile
The values below are templated from verified SEC companyfacts-derived facts. The embedded SVG figures show selected annual series from the same facts.
Reported revenue: 275,235,000,000
Operating margin: 3.77%
Free cash flow: 7,837,000,000
Revenue scale is shown from verified SEC companyfacts. Revenue: 275,235,000,000
Operating margin is shown from verified SEC companyfacts. Operating margin: 3.77%
Net margin is shown from verified SEC companyfacts. Net margin: 2.94%
Free cash flow is computed from verified operating cash flow and capital expenditure facts. Free cash flow: 7,837,000,000
Capital expenditures are shown as reported payment magnitude from verified SEC companyfacts. Capital expenditures: 5,498,000,000
Dividends paid are shown as reported cash outflow magnitude from verified SEC companyfacts. Dividends paid: 2,183,000,000
| Metric | Value | Fiscal year | Period end | Source |
|---|---|---|---|---|
| Capital expenditures | 5,498,000,000 | 2025 | 2025-08-31 | USD |
| Dividends paid | 2,183,000,000 | 2025 | 2025-08-31 | USD |
| Free cash flow | 7,837,000,000 | 2025 | 2025-08-31 | USD |
| Liabilities / equity | 1.64 | 2025 | 2025-08-31 | Ratio |
| Net income | 8,099,000,000 | 2025 | 2025-08-31 | USD |
| Net margin | 2.94% | 2025 | 2025-08-31 | Percent |
| Operating cash flow | 13,335,000,000 | 2025 | 2025-08-31 | USD |
| Operating income | 10,383,000,000 | 2025 | 2025-08-31 | USD |
Stated strategy
On workforce compensation objectives:
Rather, we believe that achieving our longer-term objectives of reducing employee turnover, increasing productivity and enhancing employee satisfaction requires maintaining compensation levels that are better than the industry average for much of our workforce.
Key idiosyncratic risks
On commodity supply and demand:
Prices of certain commodities, including gasoline and consumable goods used in manufacturing and our warehouse retail operations, are historically volatile and are subject to fluctuations arising from changes in domestic and international supply and demand, inflationary pressures, labor costs, competition, market speculation, government regulations, taxes and periodic delays in delivery.
On competition:
The evolution of retailing in online and mobile channels has improved the ability of customers to comparison shop, which has enhanced competition.
Recent developments
On gross-margin movement:
Gross margin percentage was negatively impacted by seven basis points due to a LIFO charge in 2025 for higher merchandise costs and one basis point in warehouse ancillary and other businesses.
On membership-fee income:
The fee income increase accounted for approximately 40% of membership income growth during 2025.