Stock Analysis on Net

Costco Wholesale Corp. (NASDAQ:COST)

$24.99

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Costco Wholesale Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Aug 31, 2025 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
Accounts payable
Accrued salaries and benefits
Accrued member rewards
Deferred membership fees
Current portion of long-term debt
Other current liabilities
Current liabilities
Long-term debt, excluding current portion
Long-term operating lease liabilities
Other long-term liabilities
Other liabilities
Total liabilities
Preferred stock $.005 par value; no shares issued and outstanding
Common stock $.005 par value
Additional paid-in capital
Accumulated other comprehensive loss
Retained earnings
Total Costco stockholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 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).


The financial data reveals various trends in the composition of liabilities and equity over multiple quarters, reflecting changes in the company's financial structure and obligations.

Accounts payable
Accounts payable as a percentage of total liabilities and equity fluctuated moderately, with a general range between approximately 20.9% and 30.5%. Notably, peaks were observed around late 2021 and late 2024 approaching near 30%, indicating periods of increased short-term supplier obligations relative to the company's capital structure.
Accrued salaries and benefits
This item showed variability mostly within the 5.9% to 7.5% range. Some of the higher points were recorded in early 2021 and early 2025, potentially reflecting temporal increases in employee-related liabilities or compensation expenses.
Accrued member rewards
Accrued member rewards demonstrated a steady increasing trend from about 2.3% in late 2019 to nearly 3.5% by late 2024. This gradual rise suggests growing obligations related to customer loyalty programs, possibly driven by an expanding membership base or increased usage of reward benefits.
Deferred membership fees
Deferred membership fees generally hovered around 3.3% to 3.8%, showing minor fluctuations without any significant upward or downward long-term trend. This stability might indicate consistent membership fee recognition over time.
Current portion of long-term debt
The percentage representing the current portion of long-term debt remained relatively low and sporadic, often below 2%. There are occasional intervals of missing data and minimal variations, suggesting a relatively small short-term debt repayment obligation compared to total capital.
Other current liabilities
Other current liabilities exhibited variability between approximately 6.7% and 14.2%, with a notable spike at one point in late 2020 exceeding 14%. This volatility indicates fluctuations in miscellaneous short-term obligations, which may be influenced by operational or accrual timing factors.
Current liabilities (aggregate)
Current liabilities as a whole ranged from about 44% to 54% of total liabilities and equity. Peaks around late 2020 and late 2021 contrast with dips during intervening quarters, reflecting shifting short-term financial commitments.
Long-term debt, excluding current portion
Long-term debt remained relatively stable but showed a slight declining trend after early 2021, decreasing from highs near 14.7% to just above 7% by late 2025. This pattern suggests gradual debt repayment or refinancing reducing long-term leverage.
Long-term operating lease liabilities
These liabilities declined modestly over the reported periods, from close to 5% to roughly 3.1%-3.7%, indicating possible reductions in lease commitments or changes in accounting treatments.
Other long-term liabilities
Other long-term liabilities fluctuated within a narrow range of approximately 2.7% to 4.1%, with no clear long-term directional change.
Other liabilities (aggregate)
Other liabilities experienced a decrease from about 22.7% in mid-2020 to a range of roughly 14% to 17% more recently, reflecting a reduction in broader miscellaneous liabilities over time.
Total liabilities
Total liabilities generally oscillated between 62% and 75% of the capital structure, peaking near 75% around late 2020 and subsequently trending downward to about 62% by late 2025. This reduction indicates a shifting balance towards equity financing or capital retention.
Stockholders’ equity
The total equity portion exhibited an inverse pattern relative to liabilities, rising from approximately 25% in late 2020 to nearly 38% towards late 2025. The increase suggests strengthening owner financing or retained earnings accumulation.
Components of equity
Retained earnings grew notably as a percentage of the total, from about 15% at its lowest point to almost 30% by the end of the timeline. Additional paid-in capital remained fairly stable around 10% to 12%. Accumulated other comprehensive loss showed a consistent negative impact between roughly -1.8% and -3.2%, indicating ongoing comprehensive losses reducing equity marginally.
Noncontrolling interests
Noncontrolling interests remained negligible in recent periods, near 0.01%, reflecting minimal impact on overall equity composition.

In summary, the company's financial structure over the periods analyzed reveals a gradual reduction in total liabilities coupled with an increase in equity proportion, particularly driven by growing retained earnings. Short-term liabilities show some variability but remain a significant part of the capital structure. Long-term debt has decreased moderately while accrued member rewards and other accrued liabilities have increased modestly, suggesting evolving operational and customer-related obligations. Overall, the trends point toward a strengthening equity base and controlled leveraging over the timeframe considered.