Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Statement of Comprehensive Income
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
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Costco Wholesale Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-11-23), 10-K (reporting date: 2025-08-31), 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).
- Current Liabilities
- The proportion of current liabilities relative to total liabilities and equity fluctuated moderately over the periods. It showed a notable peak around late 2020 at 54.25%, followed by a general decline and stabilization near the 48% to 52% range in subsequent years. Key components such as accounts payable demonstrated variability, reaching a high of over 30% in late 2021, then moderating to approximately 25%-28% in later periods. Accrued salaries and benefits and accrued member rewards both experienced slight increases over time, with accrued member rewards gradually rising from about 2.3% to over 3.4%, indicating a growing obligation or accrual related to membership incentives.
- Long-Term Liabilities
- Long-term debt, excluding current portions, increased significantly between early 2020 and mid-2020, peaking near 14.7%. After this peak, a steady decline followed, decreasing to under 7% by late 2025. Long-term operating lease liabilities gradually diminished from near 5% to below 3% towards the later periods, reflecting potential lease terminations or right-of-use asset amortization. Other long-term liabilities maintained a relatively stable ratio, fluctuating modestly in the 3% to 4% range throughout the timeframe.
- Total Liabilities
- Total liabilities as a percentage of total liabilities and equity increased sharply in late 2020 to nearly 75%, likely influenced by spikes in current liabilities. Thereafter, it experienced a general declining trend, tapering to approximately 63%-66% in the latter data points, suggesting a moderate deleveraging or shift in capital structure over time.
- Stockholders’ Equity
- The proportion of total stockholders’ equity showed an inverse relationship with total liabilities, dipping to as low as 24.68% in late 2020 before progressively increasing to over 37% in late 2025. Retained earnings as a component of equity consistently increased from roughly 21% to nearly 29%, demonstrating accumulation of net income or increased profitability retention. Additional paid-in capital, while slightly declining from earlier peaks around 13%, stabilized near 10%-11% in recent periods. Accumulated other comprehensive loss remained consistently negative but relatively stable, averaging near -2.5%, which may reflect ongoing unrealized losses or adjustments in comprehensive income components.
- Overall Observations
- The fiscal structure underwent notable shifts during the period, characterized by a rise in liabilities in late 2020, possibly linked to external economic factors or strategic financial decisions, followed by a gradual return to more balanced capital composition with increased equity ratios by 2025. Growth in accrued member rewards and retained earnings suggests strengthening operational performance and expanding member engagement. The reduction in long-term debt and operating lease liabilities points to improved financial flexibility or changes in asset financing strategies.