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Equity
Costco Wholesale Corporation (COST) perpetual futures
COST perpetual futures on 21 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade COSTUSDT.
Costco operates membership warehouses worldwide, selling a wide range of products from groceries to electronics, and offers services like pharmacies and gas stations.
$1,105+0.7%NASDAQ open
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Trading data
Perpetual market activity
21/21 live markets
Trading data
Perpetual market activity
Venues
21
Live markets
21/21
24h volume
$171.2MCoverage: 18/21 marketsExchange-reported volume: $173.6M
Open interest
$16.7MCoverage: 16/21 markets
Best liquidity
$1.5M
XT.com
Tightest spread
+0.1 bps
Bitunix
Highest volume
$166.2M
Deepcoin
Settlement mix
USDT · 16/21
Perp/spot vol.
0.07x
Spot volume $2.3B
OI / float
0.00%
Float $488.9B
Spot performance
1D+0.42%
5D+4.49%
1M+14.41%
6M+5.72%
YTD+26.66%
1Y+18.07%
Venue matrix
21 markets
Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.
| Trade | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 Binance | Trade | COST/USDT | Trading | $1,106 | 0.0% APR 0.000% every 8h | +2.7 bps | - | $1.5M | $1.6M | USDT | - | |
 LBank | Trade | COST/USDT | Trading | $1,105 | 0.0% APR 0.000% every 8h | +2.7 bps | $827.2K | $266.3K | $49.3K | USDT | 50x | |
 Bybit | Trade | COST/USDT | Trading | $1,106 | 0.0% APR 0.000% every 8h | +11.8 bps | $58.1K | $260.7K | $312.2K | USDT | 25x | |
 OKX | Trade | COST/USDT | Trading | $1,107 | 0.0% APR 0.000% every 8h | +5.4 bps | $36.6K | $239.1K | $306.4K | USDT | 20x | |
 Hyperliquid HIP-3 | Trade | xyz:COST | Trading | $1,106 | +0.8% APR +0.00009% every 1h | +7.2 bps | - | $231.7K | $1M | USDC | 20x | |
 Bitunix | Trade | COST/USDT | Trading | $1,105 | -0.9% APR -0.00078% every 8h | +0.1 bps | $244K | $171.1K | $51.5K | USDT | 20x | |
 Helix (Injective) | Trade | COST/USDC | Trading | $1,106 | -24.1% APR -0.00275% every 1h | - | no public depth feed | $142.3K | - | USDC | 12x | |
 Bitget | Trade | COST/USDT | Trading | $1,106 | 0.0% APR 0.000% every 8h | +5.2 bps | $520.1K | $133.3K | $681.3K | USDT | 25x | |
 MEXC | Trade | COST/USDT | Trading | $1,106 | 0.0% APR 0.000% every 8h | +11.9 bps | $28.7K | $123.9K | $12.2M | USDT | 100x | |
 BloFin | Trade | COST/USDT | Trading | $1,106 | +1.0% APR +0.00094% every 8h | +2.8 bps | - | $102.9K | $49.1K | USDT | 20x | |
 Aster | Trade | COSTUSDT | Trading | $1,108 | 0.0% APR 0.000% every 8h | +15.4 bps | $44.5K | $81.8K | $120K | USDT | - | |
 HTX | Trade | COST/USDT | Trading | $1,104 | 0.0% APR 0.000% every 8h | +54.7 bps | $21.5K | $66.9K | $9K | USDT | - | |
 Gate.io | Trade | COST/USDT | Trading | $1,106 | 0.0% APR 0.000% every 8h | +21.8 bps | $61.6K | $2.2K | $90K | USDT | 25x | |
 Crypto.com Exchange | Trade | COST/USD | Trading | $1,104 | -36.8% APR -0.00420% every 1h | +17.0 bps | $9.7K | $39.6 | $5.9K | USD | 50x | |
 Extended | Trade | COST/USD | Trading | $1,106 | +4.4% APR +0.00050% every 1h | +8.7 bps | - | $0 | $0 | USD | 10x | |
 Vest | Trade | COST/USDC | Trading | $1,106 | +5.0% APR +0.00057% every 1h | +9.9 bps | - | - | - | USDC | 25x | |
 Deepcoin | Trade | COST/USDT | Trading | $1,106 | -15.3% APR -0.014% every 8h | +2.8 bps | - | $166.2M | - | USDT | 25x | |
 XT.com | Trade | COST/USDT | Trading | $1,105 | 0.0% APR 0.000% every 8h | +2.7 bps | $1.5M | $970.8K | - | USDT | 20x | |
 BingX | Trade | COST-USDT | Trading | $1,105 | -5.5% APR -0.00500% every 8h | +5.4 bps | $833.1K15 min | $746K | - | USDT | - | |
 Ourbit | Trade | COST/USDT | Trading | $1,106 | 0.0% APR 0.000% every 8h | +3.2 bps | $125.1K | $1.7M⚠ | $141.6K | USDT | 100x | |
 KuCoin | Trade | COST/USDT | Trading | $1,107 | 0.0% APR 0.000% every 8h | +26.2 bps | $7.2K | $675.7K⚠ | $31.7K | USDT | 20x |
Unverified volume: implausibly high against open interest, a typical sign of wash trading. These venues are listed last.
Tokenized wrappers of the real stock, tradable on-chain and on crypto exchanges around the clock. Premium/discount compares the token price to our stock reference price. Data: CoinMarketCap · Robinhood · DexScreener · GeckoTerminal.
| Product | Price | Premium vs stock | 24h Vol. | Market Cap | Chains |
|---|---|---|---|---|---|
| COSTonOndo GM | $1,111 | +0.54% | $4.7M | $1.4M | Ethereum · BNB Smart Chain (BEP20) · Solana |
| COSTRobinhood | $1,108 | +0.09% | $24k | $551k | Robinhood Chain |
| Exchange | Pair | Price | 24h Vol. | Liquidity |
|---|---|---|---|---|
 uniswapDEX · robinhood | COST/USDG ↗ | $1,108 | $24k | $375k |
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100k
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100kBroad liquidity · 14 of 21 venues absorb $10k · Typical cost: +9.5 bps – +24.2 bps
Too thin: Crypto.com Exchange, KuCoin
No fresh book data: Deepcoin, Helix (Injective), BloFin, Extended, Vest
Taker execution estimate incl. approx. fees - maker fills are not guaranteed.
Best venues for this underlying
Best liquidity
COSTTightest spread
COSTHighest volume
COSTFunding history
Stored venue snapshots by market
Funding history
Stored venue snapshots by marketNext catalyst
Catalysts
Next catalyst
Catalysts
Earnings
2026-12-10
Revenue est. $74.4B · Updated 1h ago
Dividend
$30.00
2026-11-24
No unusual perp activity right now.
Reference data
Market context
Reference data
Market context
NASDAQ
Extended-hours reference
Bid1,053.5
Ask1,106.39
Volume443,400
Research data
Analysts, filings and peer context
Research data
Analysts, filings and peer context
Estimates
6DateEPS estimateRevenue estimateGrowthAnalysts
FY 202620.50$302.3B+10%24
FY 202722.82$329.7B+9%28
FY 202825.10$355.5B+8%25
FY 202927.43$378.5B+6%14
FY 203029.87$405.4B+7%6
FY 203132.63$437.1B+8%7
Source: FMP · Consensus
Company events
62026-12-10EarningsActual - / Estimate 4.92-
2026-11-24Dividend$30-
2026-10-30Dividend$1.47-
2026-09-24Earnings · After market closeActual 6.75 / Estimate 6.54Beat
2026-07-24Dividend$1.47-
2026-05-28EarningsActual 4.93 / Estimate 5.00Miss
Peer comparison
Similar listed perpsRevenue mix
Latest annualUNITED STATESGeographic$219.8B
Other International OperationsGeographic$42.8B
CANADAGeographic$40.6B
Analysts
Price targets in USD| Consensus rating | Buy |
|---|---|
| Average 12-month price target | $1,112 |
| 12-month target range (low – high) | $955 – $1,275 |
| Ratings in the provider's consensus | 59 |
Price targets as of 2026-11-12
Analyst rating history
Ratings| Month | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| Nov 2026 | 5 | 21 | 14 | 1 | 1 |
| Oct 2026 | 5 | 21 | 13 | 1 | 1 |
| Sep 2026 | 4 | 20 | 14 | 1 | 1 |
| Aug 2026 | 4 | 19 | 14 | 1 | 1 |
| Jul 2026 | 4 | 19 | 14 | 1 | 1 |
| Jun 2026 | 3 | 19 | 13 | 1 | 1 |
| May 2026 | 3 | 19 | 13 | 2 | 1 |
| Apr 2026 | 3 | 20 | 12 | 2 | 0 |
| Mar 2026 | 3 | 20 | 12 | 2 | 1 |
| Feb 2026 | 3 | 20 | 12 | 1 | 1 |
| Jan 2026 | 3 | 20 | 12 | 1 | 1 |
| Dec 2025 | 3 | 19 | 15 | 2 | 1 |
Ownership
Institutional · 2026-Q3Free float99.8%442.2M shares
Shares outstanding443.1M shares
Institutional33.1%3,421 investors
Investor count change-973
Reference market activity
COST-PERPDay range (Nov 12)$1.09K$1.1K
52 week$844.06$1.1K
Spot volume2.1M
Average volume-
Price performance
111D+0.4%
5D+4.5%
1M+14.4%
3M+13.6%
6M+5.7%
YTD+26.7%
1Y+18.1%
3Y+88.9%
5Y+110.1%
10Y+618.6%
MAX+43,241.7%
Insider activity
FY2026 Q4Acquisitions14 transactions33,153 shares
Dispositions43 transactions16,671 shares
Purchases0Ratio 0.33
Sales2
Insider transactions
25DateReporting persontransactionssharesPriceFilings
Costco officer Teresa A. Jones reported selling 900 common shares at about $1,083.95 on Nov 11, 2026, leaving 5,698 shares owned. She also gifted 200 shares, leaving 5,498.
Costco officer Sullivan John Christopher received an award of 4,552 common shares (A) and had 3,763 shares withheld for taxes (F) at $1,018.21 on 2026-10-22, leaving 48,460 shares owned.
Costco officer Adam Webb reported disposing of 260 common shares at $1,018.21 each across 5 F-Tax withholding transactions on 2026-10-22, leaving 3,270 shares owned.
Costco officer Javier Polit received an award of 4,129 common shares and had 1,572 shares withheld for taxes at $1,018.21 each, leaving 12,747 shares owned.
Costco officer Gary Millerchip received an award of 6,140 common shares and had 1,631 shares withheld for taxes at $1,018.21, leaving 19,975 shares owned.
Costco CEO Vachris received a 13,973-share Common Stock award on 2026-10-22 and had 2,524 shares withheld for taxes at $1,018.21 each, leaving 63,707 shares owned.
Filings
68 · Latest SEC filings2026-11-124Insider transaction report (Form 4)
Costco officer Teresa A. Jones reported selling 900 common shares at about $1,083.95 on Nov 11, 2026, leaving 5,698 shares owned. She also gifted 200 shares, leaving 5,498.
2026-10-274Insider transaction report (Form 4)
Costco officer Sullivan John Christopher received an award of 4,552 common shares (A) and had 3,763 shares withheld for taxes (F) at $1,018.21 on 2026-10-22, leaving 48,460 shares owned.
2026-10-274Insider transaction report (Form 4)
Costco officer Javier Polit received an award of 4,129 common shares and had 1,572 shares withheld for taxes at $1,018.21 each, leaving 12,747 shares owned.
2026-10-274Insider transaction report (Form 4)
Costco officer Adam Webb reported disposing of 260 common shares at $1,018.21 each across 5 F-Tax withholding transactions on 2026-10-22, leaving 3,270 shares owned.
2026-10-264Insider transaction report (Form 4)
Costco director Susan L. Decker received a grant of 266 common shares on Oct 22, 2026, at $0.00, bringing her holdings to 8,798 shares.
2026-10-264Insider transaction report (Form 4)
Costco director Gina Marie Raimondo received an award of 266 common shares on 2026-10-22 at $0.00 under code A (grant/compensation, not a purchase), leaving her with 481 shares owned.
2026-10-264Insider transaction report (Form 4)
Costco director Sarah M. R. Sally received an award (A) of 266 common shares at $0.00 on 2026-10-22, bringing her holdings to 3,879 shares.
2026-10-264Insider transaction report (Form 4)
Director James Hamilton E received a 266-share Common Stock award (code A) on 2026-10-22 at $0.00, bringing his holdings to 55,804 shares. This is compensation, not an open-market purchase.
2026-10-264Insider transaction report (Form 4)
Costco officer Adamo Claudine reported 692 common shares withheld for taxes (F-InKind) at $1,018.21 each across 5 transactions on 2026-10-22, leaving 6,442 shares owned.
2026-10-264Insider transaction report (Form 4)
Costco officer Gary Millerchip received an award of 6,140 common shares and had 1,631 shares withheld for taxes at $1,018.21, leaving 19,975 shares owned.
2026-10-264Insider transaction report (Form 4)
Costco CEO Vachris received a 13,973-share Common Stock award on 2026-10-22 and had 2,524 shares withheld for taxes at $1,018.21 each, leaving 63,707 shares owned.
2026-10-264Insider transaction report (Form 4)
Costco director Wilderotter Mary Agnes received a 266-share award of common stock at $0.00 on 2026-10-22, bringing her holdings to 8,527 shares. This is a grant, not a purchase.
2026-10-264Insider transaction report (Form 4)
Director John W. Stanton received an award of 266 shares of Costco common stock on 2026-10-22, after which he owned 24,356 shares.
2026-10-264Insider transaction report (Form 4)
Costco director Jeffrey S. Raikes received a 266-share award of common stock on 2026-10-22 at $0.00 per share, an A-Award grant rather than an open-market purchase, raising his direct holdings to 6,310 shares.
2026-10-264Insider transaction report (Form 4)
Costco officer James C. Klauer reported 5 F-InKind tax-withholding transactions totaling 2,101 common shares disposed at $1,018.21 each, leaving 45,929 shares owned.
2026-10-264Insider transaction report (Form 4)
Costco officer George Sarah Catherine reported 5 F-InKind tax-withholding transactions totaling 260 common shares disposed at $1,018.21 each on 2026-10-22, leaving 3,868 shares owned after the final disposal.
2026-10-264Insider transaction report (Form 4)
Costco director Helena Foulkes received an award of 266 common shares at $0.00 on 2026-10-22, leaving her with 1,353 shares directly owned. Filed on Form 4.
2026-10-264Insider transaction report (Form 4)
Costco director Kenneth D. Denman received an award of 266 common shares at $0.00 on Oct 22, 2026, bringing his holdings to 5,045 shares.
2026-10-264Insider transaction report (Form 4)
Costco officer Barbre Tiffany Marie was awarded 1,965 common shares (code A, grant) on 2026-10-22 and had 537 shares withheld for taxes (code F) at $1,018.21 across five dispositions, leaving 6,584 shares owned.
2026-10-144Insider transaction report (Form 4)
Officer Wilcox sold 1,100 shares of Costco common stock at $958.205 per share, leaving 3,094 shares owned.
2026-09-304Insider transaction report (Form 4)
Costco officer Caton Frates sold 801 common shares at $915.93 on Sept 29, 2026, leaving 7,912 shares owned.
2026-09-303/AInitial insider ownership statement (Form 3)
Costco officer Adam Webb filed an amended Form 3 reporting 1 transaction tied to Common Stock with 0 shares acquired at $0.00, leaving 3,529 shares owned. This is a Form 3/A filing dated 2026-09-30.
2026-09-304Insider transaction report (Form 4)
Costco officer Claudine Adamo sold 2,200 common shares at $915.93 on Sept 29, 2026, leaving 7,134 shares held.
2026-09-144Insider transaction report (Form 4)
Costco officer Teresa A. Jones received an award of 4,129 common shares and had 1,459 shares withheld for taxes at $902.38 under a net settlement, leaving her with 6,598 shares.
2026-09-144Insider transaction report (Form 4)
Costco officer Frates Caton received a 4,552-share Common Stock award and had 1,654 shares withheld for taxes at $902.38 each, leaving 8,713 shares owned.
2026-09-144Insider transaction report (Form 4)
Costco officer Claudine Adamo reported a grant of 4,129 common shares and 917 shares withheld for taxes at $902.38, leaving 9,334 shares owned.
2026-09-144Insider transaction report (Form 4)
Costco officer Riel Pierre received an award of 4,552 common shares and had 1,562 shares withheld for taxes at $902.38, leaving 14,246 shares owned.
2026-09-144Insider transaction report (Form 4)
Costco officer Wilcox William Richard was awarded 4,129 common shares (A-Award) at $0.00 and had 1,935 shares withheld for taxes (F-InKind) at $902.38, leaving 4,194 shares owned.
2026-09-144Insider transaction report (Form 4)
Costco officer Rubanenko Yoram received a 4,129-share Common Stock award and had 1,696 shares withheld for taxes at $902.38, leaving 10,680 shares owned.
2026-09-144Insider transaction report (Form 4)
Costco EVP James C. Klauer received an award of 4,129 common shares at $0.00 and had 936 shares withheld for taxes at $902.38 each, leaving 48,030 shares owned.
2026-09-103Initial insider ownership statement (Form 3)
Self Adam Webb, an EVP at Costco, filed an initial Form 3 disclosing 3,527 shares of Common Stock owned. No purchase, sale, or other transaction occurred.
2026-07-144Insider transaction report (Form 4)
Costco director Jeffrey S. Raikes gifted 5,249 shares of common stock on 2026-07-10, leaving 6,044 shares owned afterward.
2026-06-254Insider transaction report (Form 4)
Director Kenneth D. Denman sold 885 shares of Costco common stock at $957.4525 per share on 2026-06-23, leaving 4,779 shares owned afterward.
2026-05-153/AInitial insider ownership statement (Form 3)
This amended Form 3 for Costco EVP Sarah Catherine George reports no new transactions, only an initial ownership position of 4,128 common shares as of March 2, 2026.
2026-04-014Insider transaction report (Form 4)
Costco EVP Caton Frates sold 700 shares of common stock at $993 each on 2026-04-01, leaving 5,815 shares owned afterward.
2026-03-134Insider transaction report (Form 4)
On 2026-03-12, EVP George Sarah Catherine disposed of 642 Costco common shares at $991.2129 each in a discretionary transaction, leaving 0 shares owned afterward.
2026-03-134Insider transaction report (Form 4)
Costco EVP Gary Millerchip had 1,154 shares of common stock withheld to cover taxes at $992.23 per share, leaving 15,465 shares owned afterward.
2026-03-114Insider transaction report (Form 4)
Costco EVP Claudine Adamo sold 730 common shares at $1,003.021 on 2026-03-09, leaving 6,121 shares owned afterward.
2026-03-113Initial insider ownership statement (Form 3)
Costco EVP George Sarah Catherine filed a Form 3 initial statement of beneficial ownership on 2026-03-11, reporting Common Stock holdings only; no transactions were reported.
2026-01-284Insider transaction report (Form 4)
Director Jeffrey S. Raikes gifted 5,115 shares of Costco common stock on 2026-01-27, leaving 11,293 shares owned afterward. This was a gift, not a sale or purchase.
2026-01-284Insider transaction report (Form 4)
Teresa A. Jones, EVP of Costco Wholesale, gifted 300 shares of common stock on 2026-01-27, leaving her with 3,928 shares owned afterward.
2026-01-234Insider transaction report (Form 4)
Executive VP Teresa A. Jones sold 850 shares of Costco common stock on 2026-01-21 at $986.2567 per share, leaving 4,228 shares owned afterward.
2026-01-204Insider transaction report (Form 4)
Director Susan L. Decker sold 458 shares of Costco common stock on 2026-01-16 at $955 per share, leaving 8,532 shares owned afterward.
2026-01-204Insider transaction report (Form 4)
Director Gina Marie Raimondo received a grant/award of 215 Costco common shares on 2026-01-16 at $0.00 (compensation, not a purchase), now owning 215 shares directly.
2026-01-203Initial insider ownership statement (Form 3)
Gina Marie Raimondo filed an initial Form 3 as a Costco director, reporting no beneficially owned securities as of Jan 15, 2026.
2026-01-154Insider transaction report (Form 4)
James C. Klauer, EVP of Costco Wholesale, sold 1,500 shares of common stock on 2026-01-14 at $939 per share. He held 44,837 shares afterward.
2026-01-124Insider transaction report (Form 4)
Costco Sr. EVP Russell D. Miller sold 1,500 common shares at $916.32 on 2026-01-09, leaving 8,240 shares owned afterward.
2025-12-314Insider transaction report (Form 4)
Javier Polit, EVP of Costco, sold 2,607 shares of common stock on the open market over two transactions (Dec 29-30, 2025) at prices between $862.895 and $867.2054, leaving 10,190 shares owned afterward.
2025-12-224Insider transaction report (Form 4)
Costco director Kenneth D Denman gifted 325 common shares on 2025-12-19, leaving 5,664 shares owned afterward.
2025-12-174Insider transaction report (Form 4)
Susan L. Decker, a director at Costco, gifted 2,827 shares of common stock on 2025-12-15, leaving her with 8,990 shares owned afterward.
Transcripts
Earnings callsFY2026 Q42026-09-24
Earnings calls
AI summary
positiveCostco reported fourth quarter fiscal 2026 results for the 16 weeks ended August 30, with net sales of $93.87 billion, up 11.2% from $84.43 billion. Net income was $2.998 billion, or $6.75 per diluted share, including a nonrecurring benefit of $0.15 per diluted share from IEEPA tariff refunds received in the quarter less partial reinvestment in increased member values; excluding this, net income and EPS rose 12.3% and 12.4%. Comparable sales rose 9.4% and 6.7% adjusted for gas price inflation and FX. Digitally-enabled comparable sales rose 19.5% (19.8% adjusted for FX). Membership fee income was $1.849 billion, up 7.3% (7.7% adjusted for FX). The company opened 12 warehouses in the quarter and 28 in the fiscal year, ending with 939 worldwide, and plans about 33 openings in FY2027. Management discussed record gas volumes, pharmacy strength, digital growth, delivery partnerships, membership quality metrics, and ongoing inflation uncertainty.
Key takeaways
- Net sales rose 11.2% to $93.87 billion in Q4 FY2026; comps were up 9.4% and 6.7% adjusted for gas inflation and FX.
- Net income was $2.998 billion or $6.75 per diluted share, including a $0.15 per-share nonrecurring benefit from IEEPA tariff refunds net of partial reinvestment; excluding it, EPS rose 12.4%.
- Costco received $184 million in tariff refunds in Q4 ($174 million refunds plus $10 million interest), about one-third of expected total refunds, and has already received a similar amount in Q1 FY2027.
- The company ended FY2026 with 939 warehouses after 28 openings (25 net new), and plans about 33 openings in FY2027, including 5 relocations, toward a goal of 30 net new per year.
- Executive member penetration reached an all-time high, with 42.3 million paid executive members (up 9.4%); U.S./Canada renewal rate was 92.3% and worldwide 89.8%, each up 10 basis points sequentially.
Financial highlights
- Q4 net sales were $93.87 billion, up 11.2% from $84.43 billion; Q4 net income was $2.998 billion or $6.75 per diluted share.
- Excluding the $0.15 per-share nonrecurring tariff refund benefit, net income and EPS were up 12.3% and 12.4% from $2.61 billion or $5.87 per diluted share last year.
- Reported gross margin rate was 11.02% versus 11.13% last year; excluding gas inflation, gross margin was higher by 20 basis points, and core-on-core was higher by 18 basis points excluding tariff refunds and reinvestments.
- SG&A rate was 8.94% versus 9.21% last year, better by 27 basis points and 2 basis points excluding gas inflation; capital expenditure was $2.21 billion in Q4 and $6.4 billion for the full year.
Guidance
- Costco plans approximately $7.5 billion in capital expenditure for fiscal year 2027, mainly for new warehouse pipeline growth and supply chain spend, with capital expenditure growth expected to slow after FY2027.
- The company plans about 33 warehouse openings in FY2027, including 5 relocations, targeting a run rate of 30 net new openings per year, with 4 planned in Europe, 5 in Canada, and 1 in Mexico.
- Costco intends to continue reinvesting the majority of tariff refund dollars received in increased member values and will provide similar information on the net impact in future quarterly earnings calls.
- Management said recent membership growth rates are probably more typical of what to expect based on current new member growth and renewal rate normalization, and it does not provide guidance on particular metrics.
Q&A themes
- Pricing reinvestment of tariff refunds and whether it is driving sales, with management pointing to resilient member spending and nonfoods as the top-performing category.
- Membership growth slowing for eight quarters, narrowing spread versus unit growth, and quality metrics including record executive penetration, younger member growth, and slightly improved renewal rates.
- Consumer strength across income cohorts, with strength in both value-oriented everyday items and premium discretionary categories such as jewelry, travel, massage chairs and saunas.
- Third-party delivery expansion through Uber Eats, DoorDash and Instacart, viewed as mostly incremental with mostly younger users, alongside the evolving role of AI search in driving traffic.
Risks
- Tariff refunds and reinvestments are nonrecurring items that will continue to impact FY2027 financial results, with uncertainty around future tariff levels.
- Inflation remains in the low-single digits with nonfoods pressure from memory costs and oil-related items; Middle East conflict and oil price volatility make inflation difficult to predict.
- Costs in general liability and health care have been growing at a faster rate, and GLP-1 and Medicare drug pricing changes create ongoing pharmacy headwinds, though unit growth has partly offset them.
FY2026 Q32026-05-28
Earnings calls
AI summary
positiveCostco delivered strong Q3 results with 11.6% net sales growth and 15% net income growth, driven by record-breaking gas volumes amid elevated commodity prices and robust non-gas comparable sales of 6.6%. The company strategically invested in member value through lower pricing on everyday items like eggs and beef, while maintaining gross margin stability ex-gas inflation. Executive Memberships grew 9.6% YoY, signaling strength in higher-spending cohorts.
Key takeaways
- Record gas volumes in Q3 due to elevated oil prices; 2.4% traffic growth and 7.3% ticket growth worldwide (4.2% ex-gas inflation and FX)
- Gross margin ex-gas inflation improved 1 bp YoY; core-on-core margins down 9 bp as company invested in lower prices on eggs, beef, and gas to drive member value
- Executive Memberships up 9.6% to 41.2 million; total paid members up 4.1% to 82.9 million; U.S./Canada renewal rate 92.2%, up 10 bp
- Digitally enabled comps up 21.5% (20.8% ex-FX); same-day delivery now sub-45 minutes average with 4.8/5 member satisfaction; AI search traffic up triple digits YoY
- Net new warehouse openings of 4 in Q3 (3 U.S., 1 Canada) bringing total to 928; full-year FY2026 guidance revised down 2 buildings to 26 net openings
Financial highlights
- Net income: $2.192 billion or $4.93/diluted share, up 15% YoY vs. $1.903 billion or $4.28/share
- Net sales: $69.15 billion, up 11.6% YoY; comp sales up 9.8% reported, 6.6% ex-gas inflation and FX
- Membership fee income: $1.373 billion, up 10.7% YoY (9.9% ex-FX); 7% growth ex-fee increase and FX
- CapEx Q3: $1.41 billion; full-year FY2026 estimate ~$6.5 billion for warehouse expansion, remodels, depot network, and digital capabilities
Guidance
- FY2026 net new warehouse openings: 26 (revised down 2 buildings from prior guidance)
- CapEx full-year FY2026: approximately $6.5 billion
- Tariff refund claims: submissions over next several months; refunds expected rolling basis over 2-3 months post-approval; company plans to return portion of tariffs passed to members
Q&A themes
- Pricing strategy is strategic not reactionary; company lowers prices on high-visibility items (eggs, beef, sheets, golf balls) using LIFO benefits and commodity deflation to drive traffic and loyalty
- Membership growth of 4% is normalized rate ex-new market entries; growth below 5-year trend due to no major Asia expansion and cycling strong prior-year sign-ups; health remains good with Executive upgrades and digital member engagement improving
- Gas volumes record-breaking but difficult to predict sustainability; members visiting gas for first time driving long-term loyalty; members with gas engagement visit more frequently, spend more, renew at higher rates
- Retail media approach member-centric with personalization prioritized; AI search opportunity significant with Costco's value proposition and quality reviews resonating with large language models; 80-90% of retail media value reinvested in member pricing
Risks
- Tariff refunds timing and amount uncertain; pending lawsuit over return process may affect when and how much benefit flows to members
- Gas price sustainability unpredictable and core membership growth decelerating (4.1%) with fewer new major market openings; could pressure comp sales if economic conditions weaken
- Gross margin subject to commodity and resin cost inflation; plastic/polyester items expected to face higher costs if oil prices remain elevated; core-on-core margins down YoY despite top-line strength
FY2026 Q22026-03-05
Earnings calls
AI summary
positiveCostco delivered strong second quarter results with comparable sales up 7.4% (6.7% adjusted for gas and FX) and membership fee income up 13.6% year-over-year. The company is executing on strategic priorities including warehouse expansion, digital innovation, and managing tariff impacts through pricing discipline and supply chain agility. Management remains confident in achieving 30+ net new warehouse openings annually and continued digital-enabled sales growth exceeding overall sales growth.
Key takeaways
- Q2 diluted EPS of $4.58, up 14% YoY; net sales up 9.1% to $68.24 billion with 7.4% comparable sales growth
- Paid membership grew 4.8% to 82.1 million total members; 40.4 million paid executive memberships up 9.5%, reflecting strong upgrade activity from new digital benefits
- Digital-enabled sales up 22.6% (21.7% adjusted for FX); personalized product recommendations drove $470 million in e-commerce sales
- Warehouse count increased to 924 locations; targeting 30+ net new openings per year with creative real estate approaches including urban partnerships with parking structures and residential components
- Management navigating tariff environment through SKU consolidation, supply chain diversification, Kirkland Signature expansion, and domestic sourcing while lowering prices on affected categories
Financial highlights
- Net income $2.035 billion, up 13.7% YoY; diluted EPS $4.58 vs. $4.02 prior year
- Net sales $68.24 billion, up 9.1% YoY; comparable sales up 7.4% or 6.7% adjusted for gas and FX
- Membership fee income $1.355 billion, up 13.6% YoY; adjusted for FX, up 12.2%
- Gross margin rate 11.02% vs. 10.85% prior year; core-on-core margins up 22 basis points with broad-based gains across nonfood, food and sundries, and fresh categories
Guidance
- Targeting 28 net new warehouse openings in FY2026; pursuing 30-plus net new openings per year in coming years with roughly 55% domestic and 45% international mix
- Expecting continued inflation pressure from tariffs over next 150 days but applying agility in sourcing and product mix to mitigate member price impact
- Pharmacy business expected to see small impact from Medicare maximum fair pricing but not material headwind to top line sales
- Forecasting continued digital-enabled sales growth at faster pace than overall sales growth driven by personalization capabilities and same-day delivery expansion
Q&A themes
- Tariff management: Buyers applying agility to reduce member price impact through country-of-production moves, global buying consolidation, Kirkland Signature expansion, and domestic sourcing; IEEPA tariff refund process and timing unclear but company committed to returning value to members if received
- Membership renewal rates: U.S. and Canada rate down 10 bps to 92.1%; decline attributable to higher proportion of digital members renewing at lower rates, partially offset by targeted retention strategies; expected to stabilize after few more quarters
- Real estate creativity: Using parking decks, residential components above stores, and urban partnerships to enter previously inaccessible markets like Los Angeles and New York while maintaining Costco experience
- AI strategy: Focus on enhancing member value and employee productivity rather than chasing non-core opportunities; working with leading AI companies to ensure Costco visibility in LLM searches; early personalization results showing measurable sales impact
Risks
- Tariff environment remains extremely fluid with new global tariffs replacing eliminated IEEPA tariffs for at least 150 days; complexity of layered tariffs and rate changes making tracking of individual item impacts challenging
- Middle East instability could impact fuel costs and shipping schedules if sustained, with potential supply chain disruptions; company monitoring cautiously but no current disruptions to merchandise flow
- Membership renewal rates declining due to shift toward digital members with lower renewal rates; company expects few more quarters of decline before stabilization
FY2026 Q12025-12-11
Earnings calls
AI summary
positiveCostco reported Q1 FY2026 net income of $2.001 billion ($4.50 EPS) with net sales reaching $65.98 billion, up 8.2% year-over-year. Comparable sales grew 6.4% (excluding gas and FX), driven by 3.1% traffic growth and 3.2% ticket growth. Paid membership base expanded to 81.4 million (+5.2% YoY), with executive memberships reaching 39.7 million (+9.1% YoY), though renewal rates declined slightly by 10 basis points to 89.7% worldwide.
Key takeaways
- Opened 8 new warehouses in Q1 with 921 total worldwide; revised FY2026 net new openings guidance to 28 (down from prior plan) due to Spain delays, but maintaining 30+ annual openings target for future years
- Digitally-enabled comparable sales grew 20.5%, with site traffic up 24% and app traffic up 48%; introduced AI-powered personalization driving positive sales lift
- Achieved record checkout productivity in final weeks of quarter with prescan technology delivering up to 20% speed improvements in early adopter warehouses
- Core-on-core gross margin improved 30 basis points driven by supply chain improvements, increased Kirkland Signature penetration, and marketing revenue growth
- Membership income grew 14% to $1.329 billion; excluding fee increase and FX, membership income grew 7.3% driven by base expansion and executive upgrades
Financial highlights
- Net income $2.001 billion ($4.50 EPS) vs. $1.798 billion ($4.04 EPS) prior year; ex-tax items, earnings grew 13.6%
- Net sales $65.98 billion, +8.2% YoY; comparable sales 6.4% (excluding gas and FX)
- Reported gross margin 11.32% vs. 11.28% prior year; core-on-core margins +30 bps YoY
- SG&A rate 9.6% vs. 9.59% prior year (essentially flat); included 4 bps negative impact from prior year tax assessment
Guidance
- FY2026 net new warehouse openings revised to 28 (from prior plan) due to building delays in Spain
- Planning 30+ net warehouse openings annually in future years with half in US, half internationally
- Expect 5 relocations in FY2026 (3 US, 1 Canada, 1 Taiwan); historical remodels show 20-60% sales uplift depending on scope
- Full year FY2026 capital expenditures estimated at approximately $6.5 billion to support warehouse expansion, remodels, depot network, and digital investments
Q&A themes
- Digital strategy focused on member experience and seamless omnichannel engagement; retail media opportunity in early innings with early success on third-party placements and gas pump advertising
- AI applications expanding beyond pharmacy (mid-teen pharmacy script growth, 98% in-stocks) to gas business inventory optimization; commitment to practical, member-focused implementations with tangible business value
- Renewal rate decline slowing due to targeted digital member communications; overall membership health remains strong with 5.2% paid member growth and 9.1% executive membership growth
- Extended operating hours driving executive membership upgrades and offsetting some gift card and gold commodity sales cycling; approximately 1% estimated sales lift from hour extension
Risks
- Renewal rates remain pressured by digital member cohort mix, renewing at lower rates than warehouse sign-ups; potential for slight additional decline over next few quarters despite mitigation efforts
- Healthcare cost increases exceeded sales growth in Q1, offsetting SG&A productivity gains; ongoing elevated healthcare cost environment could continue to pressure margins
- Tariff uncertainties creating month-to-month sales volatility; mitigation strategies include supplier diversification, US sourcing increases, and Kirkland Signature leverage, but future tariff impacts remain unpredictable
FY2025 Q42025-09-25
Earnings calls
AI summary
positiveCostco delivered strong fourth quarter results with net sales of $84.43 billion (up 8%) and net income of $2.61 billion (up 11%). The company opened 27 warehouses during fiscal 2025, bringing the total to 914 locations, and plans 35 openings in fiscal 2026. Membership growth remained robust at 6.3% with 81 million paid members, while gross margins improved slightly despite tariff headwinds.
Key takeaways
- Net sales grew 8% to $84.43 billion in Q4; full year net sales reached just under $270 billion with e-commerce sales exceeding $19.6 billion (up 15%)
- Comparable sales of 5.7% (6.4% adjusted for gas deflation and FX) driven by 3.7% traffic growth, with e-commerce comparable sales up 13.6%
- Gross margin improved 3 basis points excluding gas deflation; core on core margins up 29 basis points across all three main categories (fresh, food/sundries, nonfoods)
- Executive memberships grew 9.3% to 38.7 million members representing 47.7% of paid members and 74.2% of worldwide sales; membership fee income up 14% year-over-year
- Company implementing multi-pronged tariff mitigation strategy including Kirkland Signature expansion, supply chain optimization, and selective sourcing changes with minimal price increases
Financial highlights
- Q4 net income: $2.61 billion ($5.87 per diluted share), up 11% YoY; excluding non-recurring tax benefit, earnings grew 14%
- Q4 net sales: $84.43 billion, up 8% from $78.18 billion; FY2025 net sales just under $270 billion, up over 8%
- Membership fee income: $1.72 billion, up 14% YoY (13.6% adjusted for FX); membership growth of 6.3% to 81 million paid members
- Capital expenditure: $1.97 billion in Q4, approximately $5.5 billion for full year; expected to grow in fiscal 2026 to support warehouse expansion and remodels
Guidance
- Planning to open 35 new warehouses in fiscal 2026, of which 5 are relocations
- Capital expenditure expected to grow in fiscal 2026 and likely exceed sales growth rate again, supporting warehouse expansion, remodels, and technology investments
- Continued investment in extended warehouse hours, membership benefits (Instacart $10 credit, 5% gas rewards on credit card), and digital capabilities expected to drive growth
- Planning incremental CapEx commitment for remodels of mature US warehouses (averaging 20 years old) and expanded manufacturing for Kirkland Signature and new coffee roasting facility
Q&A themes
- Extended operating hours (June 30 launch) added approximately 1% to weekly US sales; early member communication and ongoing awareness campaigns supporting executive member upgrades
- Membership renewal rates expected to decline slightly for few more quarters due to higher proportion of online sign-ups (younger members renewing at lower rates), but company investing in auto-renewal and targeted digital communications for this cohort
- Tariff mitigation strategies include supply chain efficiency improvements, Kirkland Signature penetration increase (offering 15-20% value vs national brands), global consolidation of buying, and selective sourcing changes; company taking offensive approach with price increases as last resort
- E-commerce and digitally-enabled sales (now including Instacart same-day delivery, Uber Eats, DoorDash, Costco Travel) totaled over $27 billion in FY2025; media business in early stages with focus on personalized member messaging and demonstrating supplier value
Risks
- Tariff environment remains fluid with potential for changes; company cannot fully predict future tariff impacts or competitive pricing actions, which could pressure margins
- Membership renewal rates expected to continue declining as proportion of lower-renewal online sign-ups increases, though company believes this mix shift ultimately benefits overall membership growth and engagement
- Nonfood inflation returned in Q4 after 12 months of deflation, driving $43 million LIFO charge; company facing mixed inflation pressures across categories (beef, coffee, sugar, corn up; produce, eggs, cocoa down)
FY2025 Q32025-05-29
Earnings calls
Company news
Reuters, WSJ, Bloomberg and FT first, as far as our news provider delivers them; other publishers behind the second filter. Headlines link to the publisher.- Mapping the Market: Costco has momentum to rally on
- WSJ Readers Share Their Hacks for Shopping at Costco
- Costco Reports Higher Fourth-Quarter Profit as Sales, Membership Fees Rise
- Costco beats quarterly sales estimates on resilient demand for essentials
- Costco Sells Vacations, Gas and, Soon, Medicare Plans
Company data
Company intelligence
Updated: Nov 13, 2026, 01:47 PM UTC
Company data
Company intelligence
Company profile
- Sector
- Consumer Defensive
- Industry
- Discount Stores
- Chief executive
- Ron Vachris
- Employees
- 355,000
- IPO date
- Jul 9, 1986
- Country
- US
- Exchange
- NASDAQ Global Select
Altman Z-scorei9.78
Piotroski scorei7/9
Overall ratingiB
Owner earningsi$3.71B$8.34 per share
ESG risk ratingiB-Industry rank: 3/3
Rating factors
- Return on equityi
- 5/5
- Return on assetsi
- 5/5
- Debt to equityi
- 3/5
- Price to earningsi
- 1/5
- Price to booki
- 1/5
Company press releases
Costco Wholesale Corporation Declares $30 Special Cash Dividend and Reauthorizes Stock Repurchase ProgramGlobeNewsWireCostco Wholesale Corporation Reports October Sales ResultsGlobeNewsWireCostco Wholesale Corporation Announces Quarterly Cash DividendGlobeNewsWireCostco Wholesale Corporation Reports September Sales ResultsGlobeNewsWireCostco Wholesale Corporation Reports Fourth Quarter and Fiscal Year 2026 Operating ResultsGlobeNewsWireDoorDash and Costco Expand Global Partnership with Nationwide U.S. LaunchBusiness Wire
Congressional disclosures
Senate
Alan ArmstrongPurchase · $1,001 - $15,000Disclosed: Jul 21, 2026Markwayne MullinPurchase · $15,001 - $50,000Disclosed: Jan 16, 2026Markwayne MullinPurchase · $15,001 - $50,000Disclosed: Jan 16, 2026Shelley Moore CapitoSale (Partial) · $1,001 - $15,000Disclosed: Nov 4, 2025Shelley Moore CapitoSale · $1,001 - $15,000Disclosed: Nov 4, 2025
House
Market cap history
$484.91B+15.0%Aug 2026 – Nov 2026
Latest: $484.91B · 2026-11-12High: $484.91B · 2026-11-12Low: $398.86B · 2026-09-21
Largest fund holders
| Fund | Weight | Shares held |
|---|---|---|
| VTI | 0.55% | 14.1M |
| VOO | 0.61% | 11.6M |
| QQQ | 2.17% | 9.4M |
| IVV | 0.73% | 6M |
| 1657.T | 0.56% | 6M |
| XAW.TO | 0.43% | 6M |
| XWD.TO | 0.53% | 6M |
| IHVV.AX | 0.75% | 6M |
| SPY | 0.73% | 5.4M |
| FXAIX | 0.61% | 4.8M |
| VUG | 1.09% | 4.7M |
| VSCA.S | 0.1% | 3M |
Analyst track record
How the analysts covering COST have done: ratings, price-target accuracy and the measured reaction after their calls.
| 12 months | 3 years | |
|---|---|---|
| Ratings | 249 | 756 |
| Analysts | 36 | 48 |
| Buy / hold / sell | 181 / 59 / 9 | 556 / 191 / 9 |
| Upgrades / downgrades / initiations | 4 / 2 / 5 | 5 / 6 / 10 |
| Price targets hit / missed | 71 / 137 (34%) | 414 / 246 (63%) |
| Avg. return after a rating (TipRanks) | +0.9% | +14.7% |
| Best / worst call | +42.0% / -16.9% | +117.6% / -16.9% |
After buy calls on this stock: median 21-day move +1.1% vs S&P 500 +0.5% (n = 589)
Most accurate on this stock
Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.
- Greg MelichEvercore ISI94% hit rate on this stock · 35 targets measuredBuytarget $1,100Nov 11, 2026
- Peter BenedictRobert W. Baird94% hit rate on this stock · 16 targets measuredBuytarget $1,100Feb 5, 2026
- Krisztina KataiDeutsche Bank88% hit rate on this stock · 8 targets measuredBuytarget $1,079Sep 28, 2026
Latest ratings
| Date | Analyst | Call | Target | |
|---|---|---|---|---|
| Nov 13, 2026 | Christopher NardoneBank of America SecuritiesNov 13, 2026 | BuyMaintained | $1,257↗ | article ↗ |
| Nov 12, 2026 | Steven ZacconeCitiNov 12, 2026 | HoldMaintained | –↗ | article ↗ |
| Nov 11, 2026 | David BellingerMizuho SecuritiesNov 11, 2026 | BuyMaintained | $1,100↗ | article ↗ |
| Nov 11, 2026 | Greg MelichEvercore ISINov 11, 2026 | BuyMaintained | $1,100↗ | article ↗ |
| Nov 11, 2026 | Oliver ChenTD CowenNov 11, 2026 | BuyMaintained | $1,175↗ | article ↗ |
Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.
TipRanks data · computed Nov 13, 2026 · 249 ratings
Frequently asked questions
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