15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 10.5% per year over the past 5 years.
Net income has grown faster than revenue (15.1% vs 10.5% per year).
Operating margin has been roughly flat, at 3.8% in the latest year.
Free cash flow has grown 5.3% per year over the past 5 years.
Financial health
The company holds more cash ($14.2B) than total debt ($5.8B).
Total debt has grown slower than revenue (-5.4% vs 10.5% per year).
Operating income covered interest expense 67× in the latest year, up from 34× 5 years ago.
Total debt is 0.5× EBITDA.
Shareholder returns
Dividends have been paid for 6 consecutive years, consuming 27.0% of earnings and 27.9% of free cash flow.
The dividend has grown 8.1% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$275.2B
$8.1B
12.8%
3.8%
$7.8B
$5.8B
$14.2B
2024
$254.5B
$7.4B
12.6%
3.6%
$6.6B
$5.9B
$9.9B
2023
$242.3B
$6.3B
12.3%
3.3%
$6.7B
$6.5B
$13.7B
2022
$227.0B
$5.8B
12.1%
3.4%
$3.5B
$6.6B
$10.2B
2021
$195.9B
$5.0B
12.9%
3.4%
$5.4B
$7.5B
$11.3B
2020
$166.8B
$4.0B
13.1%
3.3%
$6.1B
$7.7B
$12.3B
2019
$152.7B
$3.7B
10.8%
3.1%
$3.4B
$6.9B
$8.4B
2018
$141.6B
$3.1B
13.0%
3.2%
$2.8B
$6.6B
$6.1B
2017
$129.0B
$2.7B
13.3%
3.2%
$4.2B
$6.7B
$4.5B
2016
$118.7B
$2.4B
13.3%
3.1%
—
$5.2B
$3.4B
2015
—
$2.4B
—
—
—
$6.1B
$4.8B
2014
—
$2.1B
—
—
$2.0B
$5.1B
$5.7B
2013
—
$2.0B
—
—
$1.4B
$5.0B
$4.6B
2012
—
$1.7B
—
—
$1.6B
$1.4B
$3.5B
2011
—
$1.5B
—
—
$1.9B
$2.2B
$4.0B
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
May '26
$70.5B
$2.2B
12.8%
4.0%
$2.0B
$5.7B
$18.9B
Feb '26
$69.6B
$2.0B
12.8%
3.7%
$1.7B
$5.8B
$17.4B
Nov '25
$67.3B
$2.0B
13.1%
3.7%
$3.2B
$5.7B
$16.2B
Aug '25
$86.2B
$2.6B
12.9%
3.9%
$1.9B
$5.8B
$14.2B
May '25
$63.2B
$1.9B
13.0%
4.0%
$2.3B
$5.9B
$13.8B
Feb '25
$63.7B
$1.8B
12.5%
3.6%
$1.6B
$5.9B
$12.4B
Nov '24
$62.2B
$1.8B
12.9%
3.5%
$2.0B
$5.8B
$10.9B
Sep '24
$79.7B
$2.4B
12.7%
3.8%
$1.4B
$5.9B
$9.9B
May '24
$58.5B
$1.7B
12.5%
3.8%
$1.9B
$6.9B
$10.4B
Feb '24
$58.4B
$1.7B
12.5%
3.5%
-$300M
$6.9B
$9.1B
Nov '23
$57.8B
$1.6B
12.7%
3.4%
$3.6B
$6.9B
$17.0B
Sep '23
$78.9B
$2.2B
12.3%
3.5%
$2.2B
$6.5B
$13.7B
May '23
$53.6B
$1.3B
12.1%
3.1%
$721M
$6.5B
$12.5B
Feb '23
$55.3B
$1.5B
12.4%
3.4%
$2.3B
$6.6B
$13.0B
Nov '22
$54.4B
$1.4B
12.2%
3.2%
$1.6B
$6.5B
$10.9B
Aug '22
$72.1B
$1.9B
11.8%
3.5%
$1.2B
$6.6B
$10.2B
May '22
$52.6B
$1.4B
11.9%
3.4%
$373M
$6.6B
$11.2B
Feb '22
$51.9B
$1.3B
12.3%
3.5%
-$322M
$6.7B
$11.8B
Nov '21
$50.4B
$1.3B
12.7%
3.4%
$2.2B
$7.5B
$12.8B
Aug '21
$62.7B
$1.7B
12.7%
3.6%
$1.8B
$7.5B
$11.3B
Valuation over time
How the market has priced COST against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 37.7× (Mar '23) to 51.6× (Jun '26).
The price-to-sales ratio has risen from 1.0× (Mar '23) to 1.5× (Jun '26).
The dividend yield has fallen from 0.7% (Mar '23) to 0.5% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is COST growing its revenue and profit?
Over the past 5 years, Costco's revenue has grown 10.5% per year, and net income grown 15.1% per year. These are computed facts, not advice.
How much debt does COST have?
As of FY2025, Costco reported $5.8B of total debt against $14.2B of cash; operating income covered interest expense 67×.
What is COST's profit margin?
In FY2025, gross margin was 12.8%, operating margin 3.8%, and net margin 2.9%.
What is COST's P/E ratio?
As of Jun '26, Costco traded at a price-to-earnings ratio of about 51.6× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.