COSTCO WHOLESALE CORPORATION REPORTS FOURTH QUARTER AND FISCAL YEAR 2026
Press Release COSTCO WHOLESALE CORPORATION REPORTS FOURTH QUARTER AND FISCAL YEAR 2026 OPERATING RESULTS ISSAQUAH, Wash., September 24, 2026 - Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the 16-week fourth quarter and the 52-week fiscal year ended August 30, 2026.
Net sales for the quarter increased 11.2 percent, to $93.9 billion, from $84.4 billion last year. Net sales for the fiscal year increased 10.1 percent, to $297.2 billion, from $269.9 billion last year.
*Excluding the impacts from changes in gasoline prices and foreign exchange. Net income for the fourth quarter was $2.998 billion, $6.75 per diluted share, compared to $2.610 billion, $5.87 per diluted share, last year. This year's fourth quarter was positively impacted by a non-recurring benefit of $0.15 per diluted share from IEEPA tariff refunds received in the quarter, less partial reinvestment of those refunds in increased member values. Net income for the fiscal year was $9.226 billion, $20.76 per diluted share, compared to $8.099 billion, $18.21 per diluted share, last year.
Costco currently operates 939 warehouses, including 647 in the United States and Puerto Rico, 115 in Canada, 43 in Mexico, 37 in Japan, 29 in the United Kingdom, 20 in Korea, 15 in Australia, 14 in Taiwan, seven in China, five in Spain, three in France, two in Sweden, and one each in Iceland, and New Zealand. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, Australia, and China. A conference call to discuss these results is scheduled for 2:00 p.m. (PT) today, September 24, 2026, and will be available via a webcast on investor.costco.com (click “Events & Presentations”).
Press Release Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. In some cases forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such forward- looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, inflation or deflation, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health-care costs and wages), workforce interruptions, energy and certain commodities, geopolitical conditions (including tariffs and global conflicts), the ability to maintain effective internal control over financial reporting, regulatory and other impacts related to environmental and social matters, public-health related factors, and other risks identified from time to time in the Company’s public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements, except as required by law. Comparable sales and comparable sales excluding impacts from changes in gasoline prices and foreign exchange are intended as supplemental information and are not a substitute for net sales presented in accordance with U.S. GAAP.
August 30, August 31, 2026 2025 ──────────────────────────────────────────────────────────────────────────── ASSETS CURRENT ASSETS Cash and cash equivalents $ 20,207 $ 14,161 Short-term investments 1,094 1,123 Receivables, net 3,959 3,203 Merchandise inventories 19,324 18,116 Other current assets 1,998 1,777 Total current assets 46,582 38,380 OTHER ASSETS Property and equipment, net 35,633 31,909 Operating lease right-of-use assets 2,697 2,725 Other long-term assets 4,133 4,085 TOTAL ASSETS $ 89,045 $ 77,099 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable $ 22,591 $ 19,783 Accrued salaries and benefits 5,641 5,205 Accrued member rewards 3,037 2,677 Deferred membership fees 3,006 2,854 Current portion of long-term debt 2,248 75 Other current liabilities 7,429 6,514 Total current liabilities 43,952 37,108 OTHER LIABILITIES Long-term debt, excluding current 3,914 5,713 portion Long-term operating lease liabilities 2,414 2,460 Other long-term liabilities 2,962 2,654 TOTAL LIABILITIES 53,242 47,935 COMMITMENTS AND CONTINGENCIES EQUITY Preferred stock $0.005 par value; 100,000,000 shares authorized; no shares — — issued and outstanding Common stock $0.005 par value; 900,000,000 shares authorized; 2 2 443,266,000 and 443,237,000 shares issued and outstanding Additional paid-in capital 8,830 8,282 Accumulated other comprehensive loss -1,620 -1,770 Retained earnings 28,591 22,650 TOTAL EQUITY 35,803 29,164 TOTAL LIABILITIES AND EQUITY $ 89,045 $ 77,099
August 30, August 31, 52 Weeks Ended 2026 2025 ────────────────────────────────────────────────────────────────────────────── CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 9,226 $ 8,099 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 2,674 2,426 Non-cash lease expense 318 303 Stock-based compensation 924 860 Other non-cash operating 355 -117 activities, net Changes in working capital 2,328 1,764 Net cash provided by operating 15,825 13,335 activities CASH FLOWS FROM INVESTING ACTIVITIES Additions to property and -6,435 -5,498 equipment Purchases of short-term -788 -1,028 investments Maturities of short-term 811 1,141 investments Other investing activities, 26 74 net Net cash used in investing -6,386 -5,311 activities CASH FLOWS FROM FINANCING ACTIVITIES Repayments of short-term -577 -862 borrowings Proceeds from short-term 553 816 borrowings Repayments of long-term debt -69 -103 Proceeds from issuance of 496 — long-term debt Tax withholdings on -361 -393 stock-based awards Repurchases of common stock -848 -903 Cash dividend payments -2,458 -2,183 Financing lease payments and other -91 -147 financing activities, net Net cash used in financing -3,355 -3,775 activities EFFECT OF EXCHANGE RATE CHANGES ON CASH -38 6 AND CASH EQUIVALENTS Net change in cash and cash 6,046 4,255 equivalents CASH AND CASH EQUIVALENTS BEGINNING OF 14,161 9,906 YEAR CASH AND CASH EQUIVALENTS END $ 20,207 $ 14,161 OF YEAR
Full text with the tables
Exhibit 99.1
Press Release
COSTCO WHOLESALE CORPORATION REPORTS FOURTH QUARTER AND FISCAL YEAR 2026
OPERATING RESULTS
ISSAQUAH, Wash., September 24, 2026 - Costco Wholesale Corporation (“Costco” or
the “Company”) (Nasdaq: COST) today announced its operating results for the
16-week fourth quarter and the 52-week fiscal year ended August 30, 2026.
Net sales for the quarter increased 11.2 percent, to $93.9 billion, from $84.4
billion last year. Net sales for the fiscal year increased 10.1 percent, to
$297.2 billion, from $269.9 billion last year.
Comparable sales for the fourth quarter and fiscal year were as follows:
16 Weeks 16 Weeks 52 Weeks 52 Weeks
Adjusted* Adjusted*
U.S. 10.7% 7.2% 8.2% 6.6%
Canada 5.0% 4.6% 7.8% 6.7%
Other International 7.0% 6.2% 9.8% 6.5%
Total Company 9.4% 6.7% 8.4% 6.6%
Digitally-Enabled 19.5% 19.8% 20.9% 20.7%
*Excluding the impacts from changes in gasoline prices and foreign exchange.
Net income for the fourth quarter was $2.998 billion, $6.75 per diluted share,
compared to $2.610 billion, $5.87 per diluted share, last year. This year's
fourth quarter was positively impacted by a non-recurring benefit of $0.15 per
diluted share from IEEPA tariff refunds received in the quarter, less partial
reinvestment of those refunds in increased member values. Net income for the
fiscal year was $9.226 billion, $20.76 per diluted share, compared to $8.099
billion, $18.21 per diluted share, last year.
Costco currently operates 939 warehouses, including 647 in the United States and
Puerto Rico, 115 in Canada, 43 in Mexico, 37 in Japan, 29 in the United Kingdom,
20 in Korea, 15 in Australia, 14 in Taiwan, seven in China, five in Spain, three
in France, two in Sweden, and one each in Iceland, and New Zealand. Costco also
operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan,
Japan, Australia, and China.
A conference call to discuss these results is scheduled for 2:00 p.m. (PT)
today, September 24, 2026, and will be available via a webcast on
investor.costco.com (click “Events & Presentations”).
Press Release
Certain statements contained in this document constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995. For these purposes, forward-looking statements are statements that address
activities, events, conditions or developments that the Company expects or
anticipates may occur in the future. In some cases forward-looking statements
can be identified because they contain words such as “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,”
“plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,”
“would,” or similar expressions and the negatives of those terms. Such forward-
looking statements involve risks and uncertainties that may cause actual events,
results or performance to differ materially from those indicated by such
statements. These risks and uncertainties include, but are not limited to,
domestic and international economic conditions, including exchange rates,
inflation or deflation, the effects of competition and regulation, uncertainties
in the financial markets, consumer and small business spending patterns and debt
levels, breaches of security or privacy of member or business information,
conditions affecting the acquisition, development, ownership or use of real
estate, capital spending, actions of vendors, rising costs associated with
employees (generally including health-care costs and wages), workforce
interruptions, energy and certain commodities, geopolitical conditions
(including tariffs and global conflicts), the ability to maintain effective
internal control over financial reporting, regulatory and other impacts related
to environmental and social matters, public-health related factors, and other
risks identified from time to time in the Company’s public statements and
reports filed with the Securities and Exchange Commission. Forward-looking
statements speak only as of the date they are made, and the Company does not
undertake to update these statements, except as required by law. Comparable
sales and comparable sales excluding impacts from changes in gasoline prices and
foreign exchange are intended as supplemental information and are not a
substitute for net sales presented in accordance with U.S. GAAP.
CONTACTS: Costco Wholesale Corporation
Josh Dahmen, 425/313-8254
Andrew Yoon, 425/313-6305
Bryan Starnes, 425/427-7403
COST-Earn
Press Release
COSTCO WHOLESALE CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(dollars in millions, except per share data) (unaudited)
16 August August 52 August August
Weeks 30, 31, Weeks 30, 31,
Ended 2026 2025 Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
REVEN…
Net $ 93,873 $ 84,432 $ 297,247 $ 269,912
sales
Membe… 1,850 1,724 5,907 5,323
fees
Total 95,723 86,156 303,154 275,235
reven…
OPERA…
EXPEN…
Merch… 83,531 75,037 264,279 239,886
costs
Selli…
gener… 8,391 7,778 27,190 24,966
and
admin…
Opera… 3,801 3,341 11,685 10,383
income
OTHER
INCOME
(EXPE…
Inter… -45 -46 -145 -154
expen…
Inter…
income
and 253 215 711 589
other,
net
INCOME
BEFORE 4,009 3,510 12,251 10,818
INCOME
TAXES
Provi…
for 1,011 900 3,025 2,719
income
taxes
NET $ 2,998 $ 2,610 $ 9,226 $ 8,099
INCOME
NET
INCOME
PER
COMMON
SHARE:
Basic $ 6.75 $ 5.88 $ 20.78 $ 18.24
Dilut… $ 6.75 $ 5.87 $ 20.76 $ 18.21
Shares
used
in
calcu…
(000'…
Basic 443,975 444,007 443,953 443,985
Dilut… 444,364 444,706 444,427 444,803
Press Release
COSTCO WHOLESALE CORPORATION
CONSOLIDATED BALANCE SHEETS
(amounts in millions, except par value and share data) (unaudited)
Subject to Reclassification
August 30, August 31,
2026 2025
────────────────────────────────────────────────────────────────────────────
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 20,207 $ 14,161
Short-term investments 1,094 1,123
Receivables, net 3,959 3,203
Merchandise inventories 19,324 18,116
Other current assets 1,998 1,777
Total current assets 46,582 38,380
OTHER ASSETS
Property and equipment, net 35,633 31,909
Operating lease right-of-use assets 2,697 2,725
Other long-term assets 4,133 4,085
TOTAL ASSETS $ 89,045 $ 77,099
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts payable $ 22,591 $ 19,783
Accrued salaries and benefits 5,641 5,205
Accrued member rewards 3,037 2,677
Deferred membership fees 3,006 2,854
Current portion of long-term debt 2,248 75
Other current liabilities 7,429 6,514
Total current liabilities 43,952 37,108
OTHER LIABILITIES
Long-term debt, excluding current 3,914 5,713
portion
Long-term operating lease liabilities 2,414 2,460
Other long-term liabilities 2,962 2,654
TOTAL LIABILITIES 53,242 47,935
COMMITMENTS AND CONTINGENCIES
EQUITY
Preferred stock $0.005 par value;
100,000,000 shares authorized; no shares — —
issued and outstanding
Common stock $0.005 par value;
900,000,000 shares authorized; 2 2
443,266,000 and 443,237,000 shares
issued and outstanding
Additional paid-in capital 8,830 8,282
Accumulated other comprehensive loss -1,620 -1,770
Retained earnings 28,591 22,650
TOTAL EQUITY 35,803 29,164
TOTAL LIABILITIES AND EQUITY $ 89,045 $ 77,099
Press Release
COSTCO WHOLESALE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(amounts in millions) (unaudited)
Subject to Reclassification
August 30, August 31,
52 Weeks Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
CASH FLOWS FROM OPERATING
ACTIVITIES
Net income $ 9,226 $ 8,099
Adjustments to reconcile net
income to
net cash provided by
operating
activities:
Depreciation and amortization 2,674 2,426
Non-cash lease expense 318 303
Stock-based compensation 924 860
Other non-cash operating 355 -117
activities, net
Changes in working capital 2,328 1,764
Net cash provided by
operating 15,825 13,335
activities
CASH FLOWS FROM INVESTING
ACTIVITIES
Additions to property and -6,435 -5,498
equipment
Purchases of short-term -788 -1,028
investments
Maturities of short-term 811 1,141
investments
Other investing activities, 26 74
net
Net cash used in investing -6,386 -5,311
activities
CASH FLOWS FROM FINANCING
ACTIVITIES
Repayments of short-term -577 -862
borrowings
Proceeds from short-term 553 816
borrowings
Repayments of long-term debt -69 -103
Proceeds from issuance of 496 —
long-term debt
Tax withholdings on -361 -393
stock-based awards
Repurchases of common stock -848 -903
Cash dividend payments -2,458 -2,183
Financing lease payments and
other -91 -147
financing activities, net
Net cash used in financing -3,355 -3,775
activities
EFFECT OF EXCHANGE RATE
CHANGES ON CASH -38 6
AND CASH EQUIVALENTS
Net change in cash and cash 6,046 4,255
equivalents
CASH AND CASH EQUIVALENTS
BEGINNING OF 14,161 9,906
YEAR
CASH AND CASH EQUIVALENTS END $ 20,207 $ 14,161
OF YEAR