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

Fiscal-year property and equipment additions were $6.435 billion, alongside $2.458 billion in cash dividend payments.

Rhea-AI Summary

Costco Wholesale (COST) reported fourth-quarter net sales of $93.9 billion for the 16 weeks ended August 30, 2026.

Quarterly net sales rose 11.2% from $84.4 billion a year earlier; diluted earnings were $6.75 per share versus $5.87. A non-recurring benefit from IEEPA tariff refunds, after partial reinvestment in member values, added $0.15 per diluted share to fourth-quarter results. Companywide comparable sales rose 9.4%, or 6.7% excluding changes in gasoline prices and foreign exchange.

For the 52-week fiscal year, net sales increased 10.1% to $297.2 billion from $269.9 billion, while diluted earnings were $20.76 per share versus $18.21. Membership fees were $5.907 billion versus $5.323 billion, and cash provided by operating activities was $15.825 billion versus $13.335 billion.

Positive

• Fourth-quarter net sales rose 11.2% year over year.
• Fiscal-year net sales rose 10.1% year over year.
• Fourth-quarter net income reached $2.998 billion versus $2.610 billion.
• Fiscal-year operating cash flow reached $15.825 billion versus $13.335 billion.

Negative

• None.

News Explained

At August 30, 2026, Costco reported $20,207 million in cash and $1,094 million in short-term investments; the current portion of long-term debt was $2,248 million and long-term debt was $3,914 million.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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%
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”).

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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did Costco's fourth-quarter earnings compare with last year?

Costco earned $2.998 billion, or $6.75 per diluted share, in the 16-week fourth quarter, versus $2.610 billion, or $5.87 per diluted share, a year earlier. The latest quarter included a non-recurring $0.15-per-diluted-share benefit from IEEPA tariff refunds after partial reinvestment in member values.

What were Costco's digitally enabled comparable sales in fiscal 2026?

Digitally enabled comparable sales rose 20.9% for the 52-week fiscal year and 19.5% for the 16-week fourth quarter. Excluding the effects of changes in gasoline prices and foreign exchange, the respective increases were 20.7% and 19.8%.

How much did Costco spend on property and equipment and shareholder payments in fiscal 2026?

For the 52 weeks ended August 30, 2026, Costco reported $6.435 billion in property and equipment additions, $848 million in common-stock repurchases and $2.458 billion in cash dividend payments.