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Costco Wholesale Corporation Reports Fourth Quarter and Fiscal Year 2026 Operating Results

ISSAQUAH, Wash., Sept. 24, 2026 (GLOBE NEWSWIRE) — 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%
Canada5.0% 4.6% 7.8% 6.7%
Other International7.0% 6.2% 9.8% 6.5%
        
Total Company9.4% 6.7% 8.4% 6.6%
        
Digitally-Enabled19.5% 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”).

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

COSTCO WHOLESALE CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(dollars in millions, except per share data) (unaudited)
    
 16 Weeks Ended 52 Weeks Ended
 August 30, 2026 August 31, 2025 August 30, 2026 August 31, 2025
REVENUE       
Net sales        $93,873  $84,432  $297,247  $269,912 
Membership fees         1,850   1,724   5,907   5,323 
Total revenue         95,723   86,156   303,154   275,235 
OPERATING EXPENSES       
Merchandise costs         83,531   75,037   264,279   239,886 
Selling, general and administrative         8,391   7,778   27,190   24,966 
Operating income         3,801   3,341   11,685   10,383 
OTHER INCOME (EXPENSE)       
Interest expense         (45)  (46)  (145)  (154)
Interest income and other, net         253   215   711   589 
INCOME BEFORE INCOME TAXES 4,009   3,510   12,251   10,818 
Provision for income taxes         1,011   900   3,025   2,719 
NET INCOME        $2,998  $2,610  $9,226  $8,099 
        
NET INCOME PER COMMON SHARE:       
Basic        $6.75  $5.88  $20.78  $18.24 
Diluted        $6.75  $5.87  $20.76  $18.21 
        
Shares used in calculation (000’s):       
Basic         443,975   444,007   443,953   443,985 
Diluted         444,364   444,706   444,427   444,803 
        


COSTCO WHOLESALE CORPORATION
CONSOLIDATED BALANCE SHEETS
(amounts in millions, except par value and share data) (unaudited)
    
Subject to Reclassification   
 August 30,
2026
 August 31,
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 portion         3,914   5,713 
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; 443,266,000 and 443,237,000 shares issued and outstanding         2   2 
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 
      

COSTCO WHOLESALE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(amounts in millions) (unaudited)
  
Subject to Reclassification 
 52 Weeks Ended
 August 30,
2026
 August 31,
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 activities, net         355   (117)
Changes in working capital         2,328   1,764 
Net cash provided by operating activities         15,825   13,335 
CASH FLOWS FROM INVESTING ACTIVITIES   
Additions to property and equipment         (6,435)  (5,498)
Purchases of short-term investments         (788)  (1,028)
Maturities of short-term investments         811   1,141 
Other investing activities, net         26   74 
Net cash used in investing activities         (6,386)  (5,311)
CASH FLOWS FROM FINANCING ACTIVITIES   
Repayments of short-term borrowings         (577)  (862)
Proceeds from short-term borrowings         553   816 
Repayments of long-term debt         (69)  (103)
Proceeds from issuance of long-term debt         496   — 
Tax withholdings on stock-based awards         (361)  (393)
Repurchases of common stock         (848)  (903)
Cash dividend payments         (2,458)  (2,183)
Financing lease payments and other financing activities, net         (91)  (147)
Net cash used in financing activities         (3,355)  (3,775)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS         (38)  6 
Net change in cash and cash equivalents         6,046   4,255 
CASH AND CASH EQUIVALENTS BEGINNING OF YEAR         14,161   9,906 
CASH AND CASH EQUIVALENTS END OF YEAR        $20,207  $14,161 

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