C

COSTCO WHOLESALE CORP /NEW

COST · CIK 0000909832

18 fiscal years · 67 SEC filings · every number carries its receipt

Revenue (FY)
$275.24B8.2%
FY2025
Net income (FY)
$8.10B9.9%
FY2025
Free cash flow (FY)
$7.84B18.2%
FY2025
Diluted EPS (FY)
$18.2110.0%
FY2025
The story, charted

The shape of the business

FY2008–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$100B$200BFY2008 · Revenue $72.48B · Net income $1.28B · 0001193125-10-230379 · filed 2010-10-18FY08Revenue $72.48BNet income $1.28B0001193125-10-230379 · filed 2010-10-18FY2009 · Revenue $71.42B · Net income $1.09B · 0001193125-11-271844 · filed 2011-10-14FY09Revenue $71.42BNet income $1.09B0001193125-11-271844 · filed 2011-10-14FY2010 · Revenue $77.95B · Net income $1.30B · 0001193125-12-428890 · filed 2012-10-19FY10Revenue $77.95BNet income $1.30B0001193125-12-428890 · filed 2012-10-19FY2011 · Revenue $88.92B · Net income $1.46B · 0001445305-13-002422 · filed 2013-10-16FY11Revenue $88.92BNet income $1.46B0001445305-13-002422 · filed 2013-10-16FY2012 · Revenue $99.14B · Net income $1.71B · 0000909832-14-000021 · filed 2014-10-15FY12Revenue $99.14BNet income $1.71B0000909832-14-000021 · filed 2014-10-15FY2013 · Revenue $105.16B · Net income $2.04B · 0000909832-15-000014 · filed 2015-10-14FY13Revenue $105.16BNet income $2.04B0000909832-15-000014 · filed 2015-10-14FY2014 · Revenue $112.64B · Net income $2.06B · 0000909832-16-000032 · filed 2016-10-12FY14Revenue $112.64BNet income $2.06B0000909832-16-000032 · filed 2016-10-12FY2015 · Revenue $116.20B · Net income $2.38B · 0000909832-17-000014 · filed 2017-10-18FY15Revenue $116.20BNet income $2.38B0000909832-17-000014 · filed 2017-10-18FY2016 · Revenue $118.72B · Net income $2.35B · 0000909832-18-000013 · filed 2018-10-26FY16Revenue $118.72BNet income $2.35B0000909832-18-000013 · filed 2018-10-26FY2017 · Revenue $129.03B · Net income $2.68B · 0000909832-18-000013 · filed 2018-10-26FY17Revenue $129.03BNet income $2.68B0000909832-18-000013 · filed 2018-10-26FY2018 · Revenue $141.58B · Net income $3.13B · 0000909832-20-000017 · filed 2020-10-07FY18Revenue $141.58BNet income $3.13B0000909832-20-000017 · filed 2020-10-07FY2019 · Revenue $152.70B · Net income $3.66B · 0000909832-21-000014 · filed 2021-10-06FY19Revenue $152.70BNet income $3.66B0000909832-21-000014 · filed 2021-10-06FY2020 · Revenue $166.76B · Net income $4.00B · 0000909832-22-000021 · filed 2022-10-05FY20Revenue $166.76BNet income $4.00B0000909832-22-000021 · filed 2022-10-05FY2021 · Revenue $195.93B · Net income $5.01B · 0000909832-23-000042 · filed 2023-10-11FY21Revenue $195.93BNet income $5.01B0000909832-23-000042 · filed 2023-10-11FY2022 · Revenue $226.95B · Net income $5.84B · 0000909832-24-000049 · filed 2024-10-09FY22Revenue $226.95BNet income $5.84B0000909832-24-000049 · filed 2024-10-09FY2023 · Revenue $242.29B · Net income $6.29B · 0000909832-25-000101 · filed 2025-10-08FY23Revenue $242.29BNet income $6.29B0000909832-25-000101 · filed 2025-10-08FY2024 · Revenue $254.45B · Net income $7.37B · 0000909832-25-000101 · filed 2025-10-08FY24Revenue $254.45BNet income $7.37B0000909832-25-000101 · filed 2025-10-08FY2025 · Revenue $275.24B · Net income $8.10B · 0000909832-25-000101 · filed 2025-10-08FY25Revenue $275.24BNet income $8.10B0000909832-25-000101 · filed 2025-10-08FY25Revenue $275.24BNet income $8.10B0000909832-25-000101 · filed 2025-10-08FY09FY11FY13FY15FY17FY19FY21FY23FY25

revenue 3.8× since FY2008 · net margin 1.8% → 2.9%

MarginsNet marginFCF margin
0%1%2%3%FY2008 · Net margin 1.8% · FCF margin 0.8%FY08Net margin 1.8%FCF margin 0.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 1.5% · FCF margin 1.2%FY09Net margin 1.5%FCF margin 1.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 1.7% · FCF margin 2.2%FY10Net margin 1.7%FCF margin 2.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 1.6% · FCF margin 2.1%FY11Net margin 1.6%FCF margin 2.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 1.7% · FCF margin 1.6%FY12Net margin 1.7%FCF margin 1.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 1.9% · FCF margin 1.3%FY13Net margin 1.9%FCF margin 1.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 1.8% · FCF margin 1.8%FY14Net margin 1.8%FCF margin 1.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 2.0% · FCF margin 1.6%FY15Net margin 2.0%FCF margin 1.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 2.0% · FCF margin 0.5%FY16Net margin 2.0%FCF margin 0.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 2.1% · FCF margin 3.3%FY17Net margin 2.1%FCF margin 3.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 2.2% · FCF margin 2.0%FY18Net margin 2.2%FCF margin 2.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 2.4% · FCF margin 2.2%FY19Net margin 2.4%FCF margin 2.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 2.4% · FCF margin 3.6%FY20Net margin 2.4%FCF margin 3.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 2.6% · FCF margin 2.7%FY21Net margin 2.6%FCF margin 2.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 2.6% · FCF margin 1.5%FY22Net margin 2.6%FCF margin 1.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 2.6% · FCF margin 2.8%FY23Net margin 2.6%FCF margin 2.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 2.9% · FCF margin 2.6%FY24Net margin 2.9%FCF margin 2.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 2.9% · FCF margin 2.8%FY25Net margin 2.9%FCF margin 2.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 2.9%FCF margin 2.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 2.9% · free cash flow 2.8% of revenue

Cash engineOperating cash flowFree cash flow
$0$5B$10BFY2008 · OCF $2.21B · FCF $607.0M · 0001193125-10-230379 · filed 2010-10-18FY08OCF $2.21BFCF $607.0M0001193125-10-230379 · filed 2010-10-18FY2009 · OCF $2.09B · FCF $842.0M · 0001193125-11-271844 · filed 2011-10-14FY09OCF $2.09BFCF $842.0M0001193125-11-271844 · filed 2011-10-14FY2010 · OCF $2.78B · FCF $1.73B · 0001193125-12-428890 · filed 2012-10-19FY10OCF $2.78BFCF $1.73B0001193125-12-428890 · filed 2012-10-19FY2011 · OCF $3.20B · FCF $1.91B · 0001445305-13-002422 · filed 2013-10-16FY11OCF $3.20BFCF $1.91B0001445305-13-002422 · filed 2013-10-16FY2012 · OCF $3.06B · FCF $1.58B · 0000909832-14-000021 · filed 2014-10-15FY12OCF $3.06BFCF $1.58B0000909832-14-000021 · filed 2014-10-15FY2013 · OCF $3.44B · FCF $1.35B · 0000909832-14-000021 · filed 2014-10-15FY13OCF $3.44BFCF $1.35B0000909832-14-000021 · filed 2014-10-15FY2014 · OCF $3.98B · FCF $1.99B · 0000909832-14-000021 · filed 2014-10-15FY14OCF $3.98BFCF $1.99B0000909832-14-000021 · filed 2014-10-15FY2015 · OCF $4.29B · FCF $1.89B · 0000909832-17-000014 · filed 2017-10-18FY15OCF $4.29BFCF $1.89B0000909832-17-000014 · filed 2017-10-18FY2016 · OCF $3.29B · FCF $643.0M · 0000909832-18-000013 · filed 2018-10-26FY16OCF $3.29BFCF $643.0M0000909832-18-000013 · filed 2018-10-26FY2017 · OCF $6.73B · FCF $4.22B · 0000909832-18-000013 · filed 2018-10-26FY17OCF $6.73BFCF $4.22B0000909832-18-000013 · filed 2018-10-26FY2018 · OCF $5.77B · FCF $2.81B · 0000909832-20-000017 · filed 2020-10-07FY18OCF $5.77BFCF $2.81B0000909832-20-000017 · filed 2020-10-07FY2019 · OCF $6.36B · FCF $3.36B · 0000909832-21-000014 · filed 2021-10-06FY19OCF $6.36BFCF $3.36B0000909832-21-000014 · filed 2021-10-06FY2020 · OCF $8.86B · FCF $6.05B · 0000909832-22-000021 · filed 2022-10-05FY20OCF $8.86BFCF $6.05B0000909832-22-000021 · filed 2022-10-05FY2021 · OCF $8.96B · FCF $5.37B · 0000909832-23-000042 · filed 2023-10-11FY21OCF $8.96BFCF $5.37B0000909832-23-000042 · filed 2023-10-11FY2022 · OCF $7.39B · FCF $3.50B · 0000909832-24-000049 · filed 2024-10-09FY22OCF $7.39BFCF $3.50B0000909832-24-000049 · filed 2024-10-09FY2023 · OCF $11.07B · FCF $6.75B · 0000909832-25-000101 · filed 2025-10-08FY23OCF $11.07BFCF $6.75B0000909832-25-000101 · filed 2025-10-08FY2024 · OCF $11.34B · FCF $6.63B · 0000909832-25-000101 · filed 2025-10-08FY24OCF $11.34BFCF $6.63B0000909832-25-000101 · filed 2025-10-08FY2025 · OCF $13.34B · FCF $7.84B · 0000909832-25-000101 · filed 2025-10-08FY25OCF $13.34BFCF $7.84B0000909832-25-000101 · filed 2025-10-08FY25OCF $13.34BFCF $7.84B0000909832-25-000101 · filed 2025-10-08’09’13’17’21’25

FY2025: $13.34B operating cash − $5.50B capex = $7.84B free cash flow

Returns on capitalReturn on equityReturn on assets
0%10%20%30%FY2009 · ROE 10.8% · ROA 4.9%FY09ROE 10.8%ROA 4.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 12.0% · ROA 5.5%FY10ROE 12.0%ROA 5.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 12.2% · ROA 5.5%FY11ROE 12.2%ROA 5.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 13.8% · ROA 6.3%FY12ROE 13.8%ROA 6.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 18.8% · ROA 6.7%FY13ROE 18.8%ROA 6.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 16.7% · ROA 6.2%FY14ROE 16.7%ROA 6.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 22.4% · ROA 7.2%FY15ROE 22.4%ROA 7.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 19.5% · ROA 7.1%FY16ROE 19.5%ROA 7.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 24.9% · ROA 7.4%FY17ROE 24.9%ROA 7.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 24.5% · ROA 7.7%FY18ROE 24.5%ROA 7.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 24.0% · ROA 8.1%FY19ROE 24.0%ROA 8.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 21.9% · ROA 7.2%FY20ROE 21.9%ROA 7.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 28.5% · ROA 8.4%FY21ROE 28.5%ROA 8.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 28.3% · ROA 9.1%FY22ROE 28.3%ROA 9.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 25.1% · ROA 9.1%FY23ROE 25.1%ROA 9.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 31.2% · ROA 10.5%FY24ROE 31.2%ROA 10.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 27.8% · ROA 10.5%FY25ROE 27.8%ROA 10.5%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 27.8%ROA 10.5%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 11% (FY2009) → 28% (FY2025) · on assets 10.5%

Balance sheetLiabilitiesEquity
$0$50BFY2009 · Liabilities $11.88B · Equity $10.02BFY09Liabilities $11.88BEquity $10.02B0001193125-10-230379 · filed 2010-10-18FY2010 · Liabilities $12.88B · Equity $10.83BFY10Liabilities $12.88BEquity $10.83B0001193125-11-271844 · filed 2011-10-14FY2011 · Liabilities $14.19B · Equity $12.00BFY11Liabilities $14.19BEquity $12.00B0001193125-12-428890 · filed 2012-10-19FY2012 · Liabilities $14.62B · Equity $12.36BFY12Liabilities $14.62BEquity $12.36B0001445305-13-002422 · filed 2013-10-16FY2013 · Liabilities $19.27B · Equity $10.83BFY13Liabilities $19.27BEquity $10.83B0000909832-14-000021 · filed 2014-10-15FY2014 · Liabilities $20.51B · Equity $12.30BFY14Liabilities $20.51BEquity $12.30B0000909832-15-000014 · filed 2015-10-14FY2015 · Liabilities $22.17B · Equity $10.62BFY15Liabilities $22.17BEquity $10.62B0000909832-16-000032 · filed 2016-10-12FY2016 · Liabilities $20.83B · Equity $12.08BFY16Liabilities $20.83BEquity $12.08B0000909832-17-000014 · filed 2017-10-18FY2017 · Liabilities $25.27B · Equity $10.78BFY17Liabilities $25.27BEquity $10.78B0000909832-18-000013 · filed 2018-10-26FY2018 · Liabilities $27.73B · Equity $12.80BFY18Liabilities $27.73BEquity $12.80B0000909832-18-000013 · filed 2018-10-26FY2019 · Liabilities $29.82B · Equity $15.24BFY19Liabilities $29.82BEquity $15.24B0000909832-20-000017 · filed 2020-10-07FY2020 · Liabilities $36.85B · Equity $18.28BFY20Liabilities $36.85BEquity $18.28B0000909832-21-000014 · filed 2021-10-06FY2021 · Liabilities $41.19B · Equity $17.56BFY21Liabilities $41.19BEquity $17.56B0000909832-22-000021 · filed 2022-10-05FY2022 · Liabilities $43.52B · Equity $20.64BFY22Liabilities $43.52BEquity $20.64B0000909832-23-000042 · filed 2023-10-11FY2023 · Liabilities $43.94B · Equity $25.06BFY23Liabilities $43.94BEquity $25.06B0000909832-24-000049 · filed 2024-10-09FY2024 · Liabilities $46.21B · Equity $23.62BFY24Liabilities $46.21BEquity $23.62B0000909832-25-000101 · filed 2025-10-08FY2025 · Liabilities $47.94B · Equity $29.16BFY25Liabilities $47.94BEquity $29.16B0000909832-25-000101 · filed 2025-10-08FY25Liabilities $47.94BEquity $29.16B0000909832-25-000101 · filed 2025-10-08’09’13’17’21’25

FY2025: $77.10B assets · $47.94B liabilities · $29.16B equity

The receipts