Costco Wholesale Corporation (COST)财务
NASDAQ · Consumer Defensive · Discount Stores · 员工355,000人 · CEO Ron Vachris
- 股价
- $1,012.28 +1.78%
- 市值
- $4490亿
- 企业价值
- $4370亿
- 最近财报
- Q4 '26 2026-10-07提交
- 下次财报
- 2026-12-10 EPS预期 $4.93
营收(TTM)–– 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)–– 对比去年同期营业利润 –
净利润(TTM)–– 对比去年同期税后,含营业外收益
自由现金流(TTM)–– 对比去年同期资本支出 –
稀释EPS(TTM)–– 对比去年同期最近4个季度之和
净现金$127亿+151.3% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $4490亿 EV $4370亿
- 营收
- – 过去12个月
- 营收增速
- +9% FY2027年一致预期
- 净利润率
- – 净利润 / 营收,TTM
- P/E
- 48.7× 预期 44.4×(FY2027)
- P/S
- 1.5× 股价 / 营收,TTM
- EV / EBITDA
- 30.4× TTM
- 自由现金流
- – 过去12个月
- 净利润
- – 过去12个月
- 营收预期
- $3300亿 FY2027年一致预期
- 盈利
- 2026-12-10 营收预期 $743亿
- 股息
- $5.71 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-09-24):营收低于预期1.2%,EPS 超预期3.2%营收$939亿,预期$950亿(-1.2%);EPS $6.75,预期$6.54(+3.2%)。
- 营收增长加速:同比11.1%Q4 '26营收$957亿,此前四个季度的平均值为9.3%。
- 稀释股数一年内减少0.1%Q4 '26稀释股数4.44亿,一年前为4.45亿。
- 净现金 $127亿现金 + 短期投资 $213亿,含租赁债务 $85.8亿;一年前净现金 $50.6亿。
上一季度:Q4 '26
截至2026-08-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q4 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $957亿 | $862亿 | +11.1% |
| 毛利率 | 12.7% | 12.9% | -0.2 百分点 |
| 营业利润 | $38亿 | $33.4亿 | +13.8% |
| 营业利润率 | 4.0% | 3.9% | +0.1 百分点 |
| 净利润 | $30亿 | $26.1亿 | +14.9% |
| 稀释EPS | $6.75 | $5.87 | +15.0% |
| 经营现金流 | $46.9亿 | $38.7亿 | +21.3% |
| 资本支出 | $22.1亿 | $19.7亿 | +12.3% |
| 自由现金流 | $24.9亿 | $19亿 | +30.7% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $1.53亿 | $1.4亿 | +9.3% |
实际 vs 一致预期
2026-09-24| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $939亿 | $950亿 | -1.2% |
| EPS(一致预期口径) | $6.75 | $6.54 | +3.2% |
来自2026-09-24发布的Q4 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q4 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Food and Sundries | $627亿 | +83.1% | 37.7% | – | – | |
| Non-Foods | $408亿 | +90.5% | 24.5% | – | – | |
| Other | $367亿 | +120.9% | 22.1% | – | – | |
| Fresh Food | $228亿 | +87.8% | 13.7% | – | – | |
| Membership | $32.2亿 | +86.9% | 1.9% | – | – |
按地区划分的营收
占总额比例| 分部 | Q4 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $1210亿 | – | 73.0% | – | – | |
| Other International Operations | $227亿 | +89.0% | 13.7% | – | – | |
| CANADA | $222亿 | – | 13.4% | – | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 自由现金流
- –
- 股东回报 / FCF
- –
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 48.7× | 45.9× | 38.4× – 53.8× |
| EV / EBITDA | 30.4× | 27.6× | 22.2× – 32.6× |
| EV / 营收 | 1.4× | 1.3× | 1.0× – 1.6× |
| 股价 / FCF | 47.8× | 52.2× | 35.8× – 67.3× |
| 股价 / 净资产 | 12.6× | 12.8× | 9.6× – 16.8× |
| FCF收益率 | 2.1% | 2.0% | 1.5% – 2.8% |
| 投入资本回报率 | 18.6% | 18.4% | 16.3% – 20.2% |
| 净资产收益率 | 28.0% | 27.6% | 25.1% – 31.2% |
分析师
一致目标价 $1,111.55 (+9.8%)
区间 $955.00 – $1,275.00 · 评级 Buy
强烈买入0
买入39
持有19
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $3300亿 | +8.7% | $22.79 | +9.8% | 44.4× | 28 |
| FY2028 | $3550亿 | +7.6% | $25.03 | +9.8% | 40.4× | 25 |
| FY2029 | $3780亿 | +6.5% | $27.43 | +9.6% | 36.9× | 12 |
| FY2030 | $4050亿 | +7.3% | $29.87 | +8.9% | 33.9× | 8 |
| FY2031 | $4370亿 | +7.8% | $32.63 | +9.3% | 31.0× | 6 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Costco Wholesale Corporation在近期10-Q / 10-K文件中标记的全部246项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| – | – | – | -$4600万 | – | – | |
| – | – | – | -0.4% | – | – | |
| – | – | – | $13.8亿 | – | – | |
| Accounts Payable, Current | $226亿 | $198亿 | +14.2% | $226亿 | $198亿 | +14.2% |
| Accrued Insurance | $21.6亿 | $18.8亿 | +14.9% | $21.6亿 | $18.8亿 | +14.9% |
| Accrued Liabilities, Current | $30.4亿 | $26.8亿 | +13.4% | $30.4亿 | $26.8亿 | +13.4% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $210亿 | $189亿 | +10.8% | $210亿 | $189亿 | +10.8% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$16.2亿 | -$17.7亿 | +8.5% | -$16.2亿 | -$17.7亿 | +8.5% |
| Additional Paid in Capital, Common Stock | $88.3亿 | $82.8亿 | +6.6% | $88.3亿 | $82.8亿 | +6.6% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | – | – | – | 1.5万2012-09-02 | 0 | – |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | – | – | – | $9.29亿 | $8.64亿 | +7.5% |
| Assets | $890亿 | $771亿 | +15.5% | $890亿 | $771亿 | +15.5% |
| Assets, Current | $466亿 | $384亿 | +21.4% | $466亿 | $384亿 | +21.4% |
| Buildings and Improvements, Gross | $278亿 | $255亿 | +8.9% | $278亿 | $255亿 | +8.9% |
| Capital Expenditures Incurred but Not yet Paid | – | – | – | $2.2亿 | $1.93亿 | +14.0% |
| Cash and Cash Equivalents, at Carrying Value | $202亿 | $142亿 | +42.7% | $202亿 | $142亿 | +42.7% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $202亿 | $142亿 | +42.7% | $202亿 | $142亿 | +42.7% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | – | – | – | $60.5亿 | $42.6亿 | +42.1% |
| Common Stock, Dividends, Per Share, Declared | – | – | – | $5.54 | $4.92 | +12.6% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 9亿 | 9亿 | 0.0% | 9亿 | 9亿 | 0.0% |
| Common Stock, Shares, Issued | 4.43亿 | 4.43亿 | 0.0% | 4.43亿 | 4.43亿 | 0.0% |
| Common Stock, Shares, Outstanding | 4.43亿 | 4.43亿 | 0.0% | 4.43亿 | 4.43亿 | 0.0% |
| Common Stock, Value, Issued | $200万 | $200万 | 0.0% | $200万 | $200万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | – | – | – | $93.8亿 | $81.6亿 | +14.9% |
| Construction in Progress, Gross | $27.2亿 | $18.8亿 | +44.6% | $27.2亿 | $18.8亿 | +44.6% |
| Cost of Goods and Services Sold | – | – | – | $2640亿 | $2400亿 | +10.2% |
| Credit and Debit Card Receivables, at Carrying Value | $28.4亿 | $26.7亿 | +6.4% | $28.4亿 | $26.7亿 | +6.4% |
| Current Federal Tax Expense (Benefit) | – | – | – | $12.1亿 | $14亿 | -13.5% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $10.4亿 | $9.55亿 | +9.0% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $4.72亿 | $4.49亿 | +5.1% |
| Debt Instrument, Redemption Price, Percentage | – | – | – | 100.0% | 100.0% | 0.0% |
| Debt Issuance Costs, Net | $1300万 | $1700万 | -23.5% | $1300万 | $1700万 | -23.5% |
| Debt Securities, Available-for-sale | $7.96亿 | $7.86亿 | +1.3% | $7.96亿 | $7.86亿 | +1.3% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $700万2026-02-15 | – | – | $300万2025-08-31 | – | – |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $1400万 | – | – | $1400万 | – | – |
| Debt Securities, Available-for-sale, Amortized Cost | $8.1亿 | $7.83亿 | +3.4% | $8.1亿 | $7.83亿 | +3.4% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $2.73亿 | $1.9亿 | +43.7% | $2.73亿 | $1.9亿 | +43.7% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $4.11亿 | $4.74亿 | -13.3% | $4.11亿 | $4.74亿 | -13.3% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $1.26亿 | $1.19亿 | +5.9% | $1.26亿 | $1.19亿 | +5.9% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $2.65亿 | $1.9亿 | +39.5% | $2.65亿 | $1.9亿 | +39.5% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $4.05亿 | $4.77亿 | -15.1% | $4.05亿 | $4.77亿 | -15.1% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $1.26亿 | $1.19亿 | +5.9% | $1.26亿 | $1.19亿 | +5.9% |
| Debt Securities, Held-to-maturity | $2.98亿 | $3.37亿 | -11.6% | $2.98亿 | $3.37亿 | -11.6% |
| Debt Securities, Held-to-Maturity, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $0 | $0 | – | $0 | $0 | – |
| Debt Securities, Held-to-Maturity, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $0 | $0 | – | $0 | $0 | – |
| Debt Securities, Held-to-Maturity, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $2.98亿 | $3.37亿 | -11.6% | $2.98亿 | $3.37亿 | -11.6% |
| Debt Securities, Unrealized Gain (Loss) | – | – | – | $300万2025-08-31 | -$100万 | +400.0% |
| DebtSecuritiesAvailableForSaleAndHeldToMaturityAmortizedCostBeforeAllowanceForCreditLoss | $11.1亿 | $11.2亿 | -1.1% | $11.1亿 | $11.2亿 | -1.1% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $3.28亿 | -$4200万 | +881.0% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$4300万 | -$2000万 | -115.0% |
| Deferred Revenue, Current | $30.1亿 | $28.5亿 | +5.3% | $30.1亿 | $28.5亿 | +5.3% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $2100万 | -$1800万 | +216.7% |
| Deferred Tax Assets, Deferred Income | $3.98亿 | $3.69亿 | +7.9% | $3.98亿 | $3.69亿 | +7.9% |
| Deferred Tax Assets, Gross | $27.4亿 | $24.8亿 | +10.7% | $27.4亿 | $24.8亿 | +10.7% |
| Deferred Tax Assets, Net of Valuation Allowance | $21亿 | $19.2亿 | +9.3% | $21亿 | $19.2亿 | +9.3% |
| Deferred Tax Assets, Tax Credit Carryforwards, Foreign | $4.7亿 | $3.9亿 | +20.5% | $4.7亿 | $3.9亿 | +20.5% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $1.22亿 | $1亿 | +22.0% | $1.22亿 | $1亿 | +22.0% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $10.4亿 | $9.17亿 | +13.5% | $10.4亿 | $9.17亿 | +13.5% |
| Deferred Tax Liabilities, Gross | $25.3亿 | $20.5亿 | +23.3% | $25.3亿 | $20.5亿 | +23.3% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-K 2026-08-30, 10-Q 2026-05-10, 10-Q 2026-02-15, 10-Q 2025-11-23, 10-K 2025-08-31, 10-Q 2025-05-11, 10-Q 2025-02-16, 10-Q 2024-11-24, 10-K 2024-09-01
数据截至 2026-11-01