COSTCO WHOLESALE CORP /NEW
COST · Retail-Variety Stores · 443.5M shares · +0%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$98M (gross $676M, SBC $774M)
Reference price $957.45 · est. market cap ~$424.6B — last insider sale, 2026-06-23 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A89Dominant wide-moat membership warehouse franchise with elite returns, pricing power and exceptional cash generation despite deliberately thin margins.
Strengths
- Top-decile ROA (10.5%, 100th pct), strong ROE (27.8%, 89th pct) and interest coverage (67x, 96th pct)
- Durable moat: membership loyalty, Kirkland private label, scale-driven pricing authority
- Strong FCF ($7.8B, 99th pct) and steady 8% revenue growth
Risks
- Structurally low gross/operating margins (11th pct) by design
- Concentration in U.S./Canada (esp. California) and tariff exposure on merchandise costs
Notable findings
- Customer concentration~86% of revenue from one customer/distributor — and Canadian operations, which comprised 86% and 84% of net sales and operating income in 2025
- Strong balance sheetStrong balance sheet — $15.3B cash & investments
- Insider sellingInsider selling — 7 open-market sale(s) by 7 insider(s) (cluster of 7 insiders, ~$6M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
12.8%
Operating margin
3.8%
Net margin
2.9%
Return on equity
27.8%
Return on assets
10.5%
ROIC
23.5%
Revenue growth (QoQ)
8.3%
Net-income growth
9.9%
Debt / equity
0.2×
Net debt / EBITDA
-0.7×
Interest coverage
67.4×
Current ratio
1.0×
Free cash flow
$7.8B
EBITDA
$12.8B
Tangible book value
$29.2B
Cash & investments
$15.3B
Stock comp / revenue
0.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-23 | DENMAN KENNETH D | Sell | 885 | $957.45 |
| 2026-04-01 | Frates Caton | Sell | 700 | $993.00 |
| 2026-03-12 | George Sarah Catherine | I | 642 | $991.21 |
| 2026-03-11 | MILLERCHIP GARY | Tax withheld | 1.2K | $992.23 |
| 2026-03-09 | Adamo Claudine | Sell | 730 | $1,003.02 |
| 2026-01-27 | Jones Teresa A. | Gift | 300 | — |
| 2026-01-27 | RAIKES JEFFREY S | Gift | 5.1K | — |
| 2026-01-21 | Jones Teresa A. | Sell | 850 | $986.26 |
| 2026-01-16 | DECKER SUSAN L | Sell | 458 | $955.00 |
| 2026-01-16 | Raimondo Gina Marie | Grant | 215 | — |
| 2026-01-14 | Klauer James C | Sell | 1.5K | $939.00 |
| 2026-01-09 | Miller Russell D | Sell | 1.5K | $916.32 |
| 2025-12-30 | POLIT JAVIER | Sell | 558 | $862.89 |
| 2025-12-29 | POLIT JAVIER | Sell | 2.0K | $867.21 |
| 2025-12-19 | DENMAN KENNETH D | Gift | 325 | — |
| 2025-12-15 | DECKER SUSAN L | Gift | 2.8K | — |
| 2025-11-10 | RAIKES JEFFREY S | Gift | 4.1K | — |
| 2025-11-07 | Wilcox William Richard | Sell | 2.4K | $930.13 |
| 2025-10-24 | Adamo Claudine | Sell | 2.7K | $935.68 |
| 2025-10-24 | Barbre Tiffany Marie | Sell | 1.2K | $934.62 |
| 2025-10-22 | MILLERCHIP GARY | Grant | 6.3K | — |
| 2025-10-22 | MILLERCHIP GARY | Tax withheld | 313 | $944.68 |
| 2025-10-22 | MILLERCHIP GARY | Tax withheld | 500 | $944.68 |
| 2025-10-22 | Klauer James C | Tax withheld | 240 | $944.68 |
| 2025-10-22 | Klauer James C | Tax withheld | 191 | $944.68 |
| 2025-10-22 | Klauer James C | Tax withheld | 199 | $944.68 |
| 2025-10-22 | Klauer James C | Tax withheld | 177 | $944.68 |
| 2025-10-22 | Klauer James C | Tax withheld | 111 | $944.68 |
| 2025-10-22 | Frates Caton | Tax withheld | 156 | $944.68 |
| 2025-10-22 | Frates Caton | Tax withheld | 248 | $944.68 |
| 2025-10-22 | Frates Caton | Tax withheld | 758 | $944.68 |
| 2025-10-22 | Frates Caton | Tax withheld | 901 | $944.68 |
| 2025-10-22 | Frates Caton | Tax withheld | 706 | $944.68 |
| 2025-10-22 | Callans Patrick J | Tax withheld | 240 | $944.68 |
| 2025-10-22 | Callans Patrick J | Tax withheld | 191 | $944.68 |
| 2025-10-22 | Callans Patrick J | Tax withheld | 199 | $944.68 |
| 2025-10-22 | Callans Patrick J | Tax withheld | 177 | $944.68 |
| 2025-10-22 | Callans Patrick J | Tax withheld | 111 | $944.68 |
| 2025-10-22 | Adamo Claudine | Tax withheld | 122 | $944.68 |
| 2025-10-22 | Adamo Claudine | Tax withheld | 97 | $944.68 |
| 2025-10-22 | Adamo Claudine | Tax withheld | 199 | $944.68 |
| 2025-10-22 | Adamo Claudine | Tax withheld | 177 | $944.68 |
| 2025-10-22 | Adamo Claudine | Tax withheld | 111 | $944.68 |
| 2025-10-22 | STANTON JOHN W | Grant | 286 | — |
| 2025-10-22 | Wilderotter Mary Agnes | Grant | 286 | — |
| 2025-10-22 | RAIKES JEFFREY S | Grant | 286 | — |
| 2025-10-22 | JAMES HAMILTON E | Grant | 286 | — |
| 2025-10-22 | Foulkes Helena | Grant | 286 | — |
| 2025-10-22 | DENMAN KENNETH D | Grant | 286 | — |
| 2025-10-22 | DECKER SUSAN L | Grant | 286 | — |
| 2025-10-22 | JEWELL SARAH MR SALLY | Grant | 286 | — |
| 2025-10-22 | Barbre Tiffany Marie | Grant | 2.1K | — |
| 2025-10-22 | Barbre Tiffany Marie | Tax withheld | 114 | $944.68 |
| 2025-10-22 | Barbre Tiffany Marie | Tax withheld | 90 | $944.68 |
| 2025-10-22 | Barbre Tiffany Marie | Tax withheld | 119 | $944.68 |
| 2025-10-22 | Barbre Tiffany Marie | Tax withheld | 135 | $944.68 |
| 2025-10-22 | Barbre Tiffany Marie | Tax withheld | 85 | $944.68 |
| 2025-10-22 | Vachris Roland Michael | Grant | 14K | — |
| 2025-10-22 | Vachris Roland Michael | Tax withheld | 1.5K | $944.68 |
| 2025-10-22 | Vachris Roland Michael | Tax withheld | 1.2K | $944.68 |
| 2025-10-22 | Sullivan John Christopher | Grant | 4.7K | — |
| 2025-10-22 | Sullivan John Christopher | Tax withheld | 421 | $944.68 |
| 2025-10-22 | Sullivan John Christopher | Tax withheld | 573 | $944.68 |
| 2025-10-22 | Sullivan John Christopher | Tax withheld | 569 | $944.68 |
| 2025-10-22 | Sullivan John Christopher | Tax withheld | 585 | $944.68 |
| 2025-10-22 | Sullivan John Christopher | Tax withheld | 366 | $944.68 |
| 2025-10-22 | POLIT JAVIER | Grant | 4.2K | — |
| 2025-10-22 | POLIT JAVIER | Tax withheld | 538 | $944.68 |
| 2025-10-22 | POLIT JAVIER | Tax withheld | 294 | $944.68 |
| 2025-10-22 | POLIT JAVIER | Tax withheld | 337 | $944.68 |
| 2025-09-29 | Miller Russell D | Sell | 3.4K | $915.00 |
| 2025-09-29 | Frates Caton | Sell | 1.5K | $910.02 |
| 2025-09-23 | Miller Russell D | Gift | 2.9K | — |
| 2025-09-23 | Miller Russell D | Gift | 2.9K | — |
| 2025-09-10 | Rubanenko Yoram | Grant | 4.2K | — |
| 2025-09-10 | Rubanenko Yoram | Tax withheld | 1.7K | $956.29 |
| 2025-09-10 | Riel Pierre | Grant | 4.7K | — |
| 2025-09-10 | Riel Pierre | Tax withheld | 1.6K | $956.29 |
| 2025-09-10 | Miller Russell D | Grant | 4.7K | — |
| 2025-09-10 | Miller Russell D | Tax withheld | 1.7K | $956.29 |
| 2025-09-10 | Klauer James C | Grant | 4.2K | — |
| 2025-09-10 | Klauer James C | Tax withheld | 958 | $956.29 |
| 2025-09-10 | Jones Teresa A. | Grant | 4.2K | — |
| 2025-09-10 | Jones Teresa A. | Tax withheld | 1.5K | $956.29 |
| 2025-09-10 | Frates Caton | Grant | 4.2K | — |
| 2025-09-10 | Frates Caton | Tax withheld | 1.3K | $956.29 |
| 2025-09-10 | Callans Patrick J | Grant | 4.2K | — |
| 2025-09-10 | Callans Patrick J | Tax withheld | 950 | $956.29 |
| 2025-09-10 | Adamo Claudine | Grant | 4.2K | — |
| 2025-09-10 | Adamo Claudine | Tax withheld | 950 | $956.29 |
| 2025-09-02 | STANTON JOHN W | Gift | 211 | — |
| 2025-09-02 | STANTON JOHN W | Gift | 211 | — |
| 2025-08-20 | Jones Teresa A. | Sell | 600 | $992.05 |
| 2025-07-14 | RAIKES JEFFREY S | Gift | 6.6K | — |
| 2025-07-14 | Rubanenko Yoram | Sell | 4.0K | $974.96 |
| 2025-06-18 | DECKER SUSAN L | Sell | 546 | $980.00 |
| 2025-06-18 | DECKER SUSAN L | Sell | 1 | $978.39 |
| 2025-06-09 | Callans Patrick J | Sell | 3.0K | $1,002.77 |
| 2025-06-06 | Riel Pierre | Sell | 2.0K | $1,014.15 |
| 2025-04-17 | Klauer James C | Sell | 4.0K | $981.07 |
| 2025-03-27 | MILLERCHIP GARY | Sell | 1.1K | $940.01 |
| 2025-03-24 | Adamo Claudine | Sell | 900 | $922.56 |
| 2025-03-18 | Frates Caton | Sell | 850 | $900.25 |
| 2025-03-11 | Vachris Roland Michael | Sell | 3.6K | $931.00 |
| 2025-03-11 | MILLERCHIP GARY | Tax withheld | 1.1K | $930.49 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (2)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-06-03 | 2026-05-10 | 0000909832-26-000051 ↗ |
| 8-K | 2026-05-28 | 2026-05-28 | 0000909832-26-000046 ↗ |
| 8-K | 2026-04-15 | 2026-04-15 | 0000909832-26-000041 ↗ |
| 10-Q | 2026-03-11 | 2026-02-15 | 0000909832-26-000029 ↗ |
| 8-K | 2026-03-05 | 2026-03-05 | 0000909832-26-000025 ↗ |
| 8-K | 2026-01-21 | 2026-01-15 | 0000909832-26-000016 ↗ |
| 10-Q | 2025-12-17 | 2025-11-23 | 0000909832-25-000169 ↗ |
| 8-K | 2025-12-11 | 2025-12-11 | 0000909832-25-000164 ↗ |
| 8-K | 2025-10-20 | 2025-10-14 | 0000909832-25-000107 ↗ |
| 8-K | 2025-10-15 | 2025-10-15 | 0000909832-25-000105 ↗ |
| 10-K | 2025-10-08 | 2025-08-31 | 0000909832-25-000101 ↗ |
| 8-K | 2025-09-25 | 2025-09-25 | 0000909832-25-000093 ↗ |