Stock Analysis on Net

Costco Wholesale Corp. (NASDAQ:COST)

Common-Size Balance Sheet: Assets 
Quarterly Data

Costco Wholesale Corp., common-size consolidated balance sheet: assets (quarterly data)

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May 11, 2025 Feb 16, 2025 Nov 24, 2024 Sep 1, 2024 May 12, 2024 Feb 18, 2024 Nov 26, 2023 Sep 3, 2023 May 7, 2023 Feb 12, 2023 Nov 20, 2022 Aug 28, 2022 May 8, 2022 Feb 13, 2022 Nov 21, 2021 Aug 29, 2021 May 9, 2021 Feb 14, 2021 Nov 22, 2020 Aug 30, 2020 May 10, 2020 Feb 16, 2020 Nov 24, 2019 Sep 1, 2019 May 12, 2019 Feb 17, 2019 Nov 25, 2018
Cash and cash equivalents 18.33 16.87 14.86 14.19 15.32 13.71 23.07 19.86 18.72 19.40 16.44 15.90 17.53 18.74 19.88 19.00 17.85 15.73 22.57 22.10 20.93 15.96 17.55 18.47 16.03 14.21 15.47
Short-term investments 1.34 1.10 1.25 1.77 1.61 1.85 1.16 2.22 1.82 1.10 1.24 1.32 1.00 0.76 1.13 1.55 1.57 1.12 1.38 1.85 1.83 1.90 1.93 2.33 2.64 2.43 2.68
Receivables, net 3.81 4.18 4.04 3.90 3.80 4.19 3.45 3.31 3.75 4.06 3.50 3.49 3.12 3.54 3.01 3.04 2.78 3.52 2.73 2.79 2.91 4.08 3.33 3.38 3.89 4.66 4.10
Merchandise inventories 24.65 25.61 28.59 26.70 25.67 25.75 24.42 24.13 24.45 24.06 28.13 27.91 27.60 26.13 26.41 23.98 24.40 25.25 24.75 22.04 21.28 24.29 26.87 25.10 25.84 26.53 27.86
Other current assets 2.41 2.63 2.39 2.48 2.62 2.97 2.27 2.48 2.63 2.74 2.41 2.34 2.45 2.46 2.34 2.21 2.13 2.29 1.87 1.84 1.86 2.36 2.13 2.45 2.54 2.75 2.28
Current assets 50.54% 50.39% 51.13% 49.04% 49.02% 48.47% 54.37% 52.00% 51.37% 51.36% 51.72% 50.96% 51.69% 51.63% 52.77% 49.78% 48.74% 47.90% 53.30% 50.62% 48.82% 48.59% 51.80% 51.73% 50.93% 50.58% 52.39%
Property and equipment, net 40.52 40.71 39.97 41.57 41.32 41.62 36.85 38.68 38.85 38.48 38.08 38.41 37.81 38.13 37.24 39.64 40.47 41.03 37.01 39.25 41.61 44.03 41.29 46.01 46.80 47.07 45.37
Operating lease right-of-use assets 3.60 3.46 3.46 3.75 3.89 4.13 3.62 3.93 4.20 4.28 4.22 4.32 4.28 4.50 4.53 4.88 5.02 5.26 4.62 5.02 5.31 5.32 5.05 0.00 0.00 0.00 0.00
Other long-term assets 5.34 5.44 5.43 5.64 5.77 5.78 5.16 5.39 5.58 5.89 5.98 6.31 6.22 5.74 5.47 5.70 5.77 5.81 5.06 5.11 4.26 2.05 1.85 2.26 2.27 2.35 2.24
Other assets 49.46% 49.61% 48.87% 50.96% 50.98% 51.53% 45.63% 48.00% 48.63% 48.64% 48.28% 49.04% 48.31% 48.37% 47.23% 50.22% 51.26% 52.10% 46.70% 49.38% 51.18% 51.41% 48.20% 48.27% 49.07% 49.42% 47.61%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2025-05-11), 10-Q (reporting date: 2025-02-16), 10-Q (reporting date: 2024-11-24), 10-K (reporting date: 2024-09-01), 10-Q (reporting date: 2024-05-12), 10-Q (reporting date: 2024-02-18), 10-Q (reporting date: 2023-11-26), 10-K (reporting date: 2023-09-03), 10-Q (reporting date: 2023-05-07), 10-Q (reporting date: 2023-02-12), 10-Q (reporting date: 2022-11-20), 10-K (reporting date: 2022-08-28), 10-Q (reporting date: 2022-05-08), 10-Q (reporting date: 2022-02-13), 10-Q (reporting date: 2021-11-21), 10-K (reporting date: 2021-08-29), 10-Q (reporting date: 2021-05-09), 10-Q (reporting date: 2021-02-14), 10-Q (reporting date: 2020-11-22), 10-K (reporting date: 2020-08-30), 10-Q (reporting date: 2020-05-10), 10-Q (reporting date: 2020-02-16), 10-Q (reporting date: 2019-11-24), 10-K (reporting date: 2019-09-01), 10-Q (reporting date: 2019-05-12), 10-Q (reporting date: 2019-02-17), 10-Q (reporting date: 2018-11-25).


Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets exhibits notable fluctuations over the period. After an initial range around 15% to 18%, there is an observable increase in mid-2020, peaking above 22%. Subsequently, values fluctuate between roughly 14% and 19%, with a recurring pattern of rises followed by declines. The most recent periods show a moderate upward trend, concluding near 18%.
Short-term investments
Short-term investments as a share of total assets generally remain low, between approximately 0.7% and 2.7%. The data shows a decrease from around 2.7% in late 2018 to approximately 1.1% by early 2022, followed by minor oscillations. Notably, there are intermittent dips and recoveries, but no sustained growth trend is evident.
Receivables, net
Net receivables express a somewhat volatile trend, mostly fluctuating within a narrow range of 2.7% to 4.7%. Periods of decline are typically followed by recovery, with no definitive upward or downward trajectory. The latest values hover near 4%, indicating relative stability in this asset category’s proportion.
Merchandise inventories
Merchandise inventories represent a significant share of total assets, generally between 21% and 29%. A downward trend is visible from 2018 into early 2020, reaching approximately 21%, followed by a gradual increase peaking near 28.6% towards late 2024. This suggests periodic inventory accumulation, with some seasonal or strategic variation.
Other current assets
This category remains relatively stable throughout the period, fluctuating around 1.8% to 2.7% of total assets. Minor increases occur occasionally, but overall there is no substantial trend of increase or decrease.
Current assets
Current assets as a percentage of total assets generally range from about 48.5% to 54.4%, with some volatility. The proportion dips below 50% during several periods, particularly around early 2021 and early 2024, but mostly stays close to the 50% mark, indicating a steady allocation of resources within current assets.
Property and equipment, net
The share of property and equipment within total assets gradually decreases from near 47% in late 2018 to a low close to 37% by late 2019, followed by minor fluctuations. From early 2021 onwards, the share stabilizes around 38% to 41.6%, indicating a relatively consistent investment in fixed assets.
Operating lease right-of-use assets
Introduced after mid-2019, this category begins near 5% and demonstrates a slow declining trend over time, reaching approximately 3.5% toward the end of the period. The steady decrease suggests a reduction or amortization of leasing rights relative to total assets.
Other long-term assets
This asset category shows a gradual increase from below 2.5% in early periods to a peak exceeding 6% around mid-2022. Thereafter, it mildly declines and stabilizes near 5% to 5.8% in recent periods, indicating growth in other long-term assets followed by slight contraction.
Other assets
The proportion of other assets fluctuates between 45.6% and 52.1%, without a clear directional trend. Peaks occur intermittently, such as in early 2021 and early 2024, while troughs appear around late 2023. This category maintains a substantial portion of total assets, reflecting diverse asset composition.
Total assets
Total assets consistently represent 100% as expected since all asset categories sum up to the entirety of assets.