Stock Analysis on Net
Stock Analysis on Net
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Costco Wholesale Corp. (NASDAQ:COST)

Common-Size Income Statement

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Costco Wholesale Corp., common-size consolidated income statement

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12 months ended: Aug 30, 2020 Sep 1, 2019 Sep 2, 2018 Sep 3, 2017 Aug 28, 2016 Aug 30, 2015
Net sales 100.00 100.00 100.00 100.00 100.00 100.00
Merchandise costs -88.80 -88.98 -88.96 -88.67 -88.65 -88.91
Gross margin 11.20% 11.02% 11.04% 11.33% 11.35% 11.09%
Membership fees 2.17 2.24 2.27 2.26 2.28 2.23
Selling, general and administrative -10.01 -10.04 -10.02 -10.26 -10.40 -10.07
Preopening expenses -0.03 -0.06 -0.05 -0.06 -0.07 -0.06
Operating income 3.33% 3.17% 3.24% 3.26% 3.16% 3.19%
Interest expense -0.10 -0.10 -0.11 -0.11 -0.11 -0.11
Interest income 0.05 0.08 0.05 0.04 0.04 0.04
Foreign-currency transactions gains (losses), net 0.00 0.02 0.02 0.00 0.02 0.04
Other, net 0.00 0.02 0.02 0.01 0.01 0.01
Interest income and other, net 0.06% 0.12% 0.09% 0.05% 0.07% 0.09%
Other income (expense) -0.04% 0.02% -0.03% -0.06% -0.05% -0.02%
Income before income taxes 3.29% 3.19% 3.21% 3.20% 3.12% 3.17%
Provision for income taxes -0.80 -0.71 -0.91 -1.05 -1.07 -1.05
Net income including noncontrolling interests 2.49% 2.48% 2.30% 2.15% 2.05% 2.12%
Net income attributable to noncontrolling interests -0.03 -0.03 -0.03 -0.03 -0.02 -0.03
Net income attributable to Costco 2.45% 2.45% 2.26% 2.12% 2.02% 2.09%

Based on: 10-K (filing date: 2020-10-07), 10-K (filing date: 2019-10-11), 10-K (filing date: 2018-10-26), 10-K (filing date: 2017-10-18), 10-K (filing date: 2016-10-12), 10-K (filing date: 2015-10-14).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Costco Wholesale Corp.’s operating income as a percentage of net sales decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Costco Wholesale Corp.’s income before income taxes as a percentage of net sales decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.
Net income attributable to Costco The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Costco Wholesale Corp.’s net income attributable to Costco as a percentage of net sales increased from 2018 to 2019 and from 2019 to 2020.