Stock Analysis on Net

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

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

Microsoft Excel
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
Accounts payable 26.26 25.42 29.70 27.81 27.75 26.38 27.61 25.34 25.25 24.54 27.79 27.82 27.64 27.09 30.49 27.47 27.13 26.19 28.25 25.51 20.90 22.70 28.08 25.72 25.90 25.03 29.97
Accrued salaries and benefits 6.38 7.03 6.52 6.87 6.43 7.24 6.07 6.20 6.17 6.71 6.54 6.83 6.41 6.89 6.21 6.90 6.68 7.52 5.96 6.49 6.27 7.00 6.14 7.00 6.60 7.41 6.81
Accrued member rewards 3.42 3.40 3.33 3.49 3.44 3.42 2.99 3.12 3.11 3.02 2.97 2.98 2.86 2.85 2.69 2.82 2.82 2.81 2.41 2.51 2.57 2.55 2.32 2.60 2.65 2.64 2.46
Deferred membership fees 3.88 3.86 3.66 3.58 3.76 3.83 3.34 3.39 3.65 3.61 3.52 3.39 3.53 3.56 3.42 3.45 3.67 3.73 3.30 3.33 3.54 3.82 3.53 3.77 4.02 4.05 3.87
Current portion of long-term debt 0.24 0.13 0.13 0.15 1.59 1.63 1.46 1.57 0.00 0.11 0.11 0.11 0.12 0.00 1.25 1.35 0.16 0.17 0.16 0.17 2.89 1.02 3.31 3.74 3.88 3.97 0.00
Other current liabilities 9.61 10.69 8.84 8.89 9.10 9.81 8.39 9.06 9.33 10.65 9.16 8.74 9.32 9.62 7.92 7.70 8.39 7.95 14.17 6.71 7.85 9.43 7.69 8.35 9.13 9.35 8.18
Current liabilities 49.79% 50.53% 52.17% 50.79% 52.07% 52.30% 49.87% 48.68% 47.50% 48.64% 50.08% 49.87% 49.87% 50.01% 51.98% 49.67% 48.86% 48.37% 54.25% 44.72% 44.03% 46.52% 51.07% 51.18% 52.19% 52.45% 51.29%
Long-term debt, excluding current portion 7.57 7.86 7.83 8.30 8.59 8.84 7.96 7.79 9.73 9.73 9.80 10.11 10.19 10.56 10.39 11.29 13.09 13.70 12.50 13.53 14.69 10.45 9.93 11.29 10.97 11.20 14.79
Long-term operating lease liabilities 3.26 3.12 3.12 3.40 3.51 3.75 3.26 3.52 3.76 3.83 3.79 3.87 3.84 4.10 4.13 4.46 4.61 4.83 4.27 4.60 4.90 5.01 4.75 0.00 0.00 0.00 0.00
Other long-term liabilities 3.44 3.56 3.56 3.69 3.77 3.80 3.45 3.70 3.70 3.69 3.80 3.98 3.97 3.66 3.88 4.07 3.81 3.74 3.55 3.48 3.13 3.16 2.71 3.20 2.97 3.21 3.15
Other liabilities 14.28% 14.54% 14.51% 15.39% 15.87% 16.40% 14.66% 15.01% 17.18% 17.25% 17.39% 17.95% 18.00% 18.32% 18.41% 19.82% 21.51% 22.26% 20.33% 21.61% 22.71% 18.63% 17.39% 14.49% 13.94% 14.41% 17.94%
Total liabilities 64.06% 65.07% 66.68% 66.17% 67.94% 68.70% 64.53% 63.68% 64.69% 65.89% 67.47% 67.82% 67.87% 68.33% 70.38% 69.50% 70.36% 70.63% 74.58% 66.33% 66.75% 65.15% 68.45% 65.67% 66.13% 66.86% 69.24%
Preferred stock $.005 par value; no shares issued and outstanding 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock $.005 par value 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Additional paid-in capital 10.79 10.99 10.77 11.21 11.34 11.49 10.16 10.64 10.80 10.66 10.57 10.73 11.39 11.39 11.01 11.86 12.08 12.46 11.17 12.06 12.74 13.34 12.43 14.13 14.42 14.53 13.94
Accumulated other comprehensive loss -2.54 -3.06 -2.93 -2.62 -2.83 -2.78 -2.50 -2.62 -2.52 -2.50 -2.92 -2.85 -2.51 -1.98 -1.89 -1.92 -1.59 -1.75 -1.83 -2.33 -3.24 -2.62 -2.57 -3.16 -3.02 -2.99 -3.04
Retained earnings 27.68 27.00 25.48 25.23 23.54 22.59 27.81 28.29 27.02 25.94 24.86 24.29 22.39 21.36 19.65 19.68 18.27 17.78 15.33 23.18 22.97 23.34 20.97 22.59 21.70 20.83 19.14
Total Costco stockholders’ equity 35.94% 34.93% 33.32% 33.83% 32.06% 31.30% 35.47% 36.32% 35.31% 34.10% 32.52% 32.17% 31.27% 30.78% 28.78% 29.63% 28.78% 28.50% 24.68% 32.91% 32.48% 34.06% 30.84% 33.57% 33.11% 32.38% 30.05%
Noncontrolling interests 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.85 0.88 0.84 0.87 0.86 0.87 0.75 0.76 0.78 0.79 0.71 0.75 0.76 0.76 0.71
Total equity 35.94% 34.93% 33.32% 33.83% 32.06% 31.30% 35.47% 36.32% 35.31% 34.11% 32.53% 32.18% 32.13% 31.67% 29.62% 30.50% 29.64% 29.37% 25.42% 33.67% 33.25% 34.85% 31.55% 34.33% 33.87% 33.14% 30.76%
Total liabilities and equity 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).


Accounts payable
Accounts payable as a percentage of total liabilities and equity demonstrates fluctuating trends, initially declining from 29.97% in late 2018 to around 20.9% in early 2020, followed by rebounds reaching above 27% in late 2021 and stabilizing near 26% in the most recent periods of 2024 and 2025. This indicates variable supplier credit utilization over time with partial recovery after a dip during the early pandemic period.
Accrued salaries and benefits
This item oscillates moderately between 5.96% and 7.52%, with no clear upward or downward trend. Peaks occur sporadically, for instance 7.52% in early 2021 and 7.24% in early 2024, implying consistent fluctuations in employee obligations relative to total financing.
Accrued member rewards
Accrued member rewards show a steady gradual increase from approximately 2.46% in late 2018 to a recent range of about 3.3–3.4% by 2024, reflecting an expanding accumulation of customer incentives relative to total liabilities and equity.
Deferred membership fees
Deferred membership fees remain relatively stable, fluctuating narrowly between 3.3% and 4.05%, without pronounced trends, suggesting stable deferred revenue from memberships across the periods analyzed.
Current portion of long-term debt
Values are primarily low and occasionally missing; however, there is a notable reduction from above 3% in 2019 to consistently below 2% from 2020 onward, indicating a decline in current maturities of long-term debt relative to total financing.
Other current liabilities
Other current liabilities show variable behavior with a significant peak at 14.17% in late 2020 but generally hover between 6.7% and around 10%, reflecting episodic increases in miscellaneous short-term obligations.
Current liabilities (total)
Current liabilities display a decreasing trend from over 51% in 2018-2019 to a low near 44% in 2020, followed by a recovery peaking again above 52% in early 2024. This volatility reflects shifts in short-term liabilities possibly influenced by external economic factors including the pandemic impacts.
Long-term debt, excluding current portion
Long-term debt shows a decline from about 14.79% in late 2018 to under 8% in 2023–2025, indicating a reduction in long-term debt load relative to total liabilities and equity over the analyzed timeframe.
Long-term operating lease liabilities
Beginning data appears from mid-2019 showing a slow downward trajectory from approximately 4.75% to around 3.12%-3.26%, implying gradual reduction in lease obligations categorized as long-term liabilities.
Other long-term liabilities
Other long-term liabilities remain relatively stable between approximately 2.7% and 4.1%, with slight fluctuations, indicating a consistent level of additional long-term obligations.
Other liabilities
The category of other liabilities exhibits a declining trend from nearly 18% in 2018 to approximately 14.3% in 2025, reflecting a decrease in unspecified liabilities relative to total financing.
Total liabilities
Total liabilities as a percentage of total liabilities and equity decrease from roughly 69% in 2018 to about 64% in 2025, indicating a gradual shift toward relatively greater equity financing over the time period analyzed.
Common stock $.005 par value
Common stock remains negligible and constant near zero throughout, suggesting no significant changes or reissuances in share capital reflected directly in this percentage metric.
Additional paid-in capital
Additional paid-in capital declines from about 14.5% in 2019 to around 10.7%-11% in 2024-2025, representing a reduction in contributed capital relative to total liabilities and equity.
Accumulated other comprehensive loss
This item remains negative throughout, fluctuating mildly around -2.5% to -3%, without a clear trend indicating persistent comprehensive losses impacting equity.
Retained earnings
Retained earnings display a general increase from about 19% in late 2018 to nearly 28% by 2023-2025, highlighting growing accumulated profitability contributing to equity.
Total Costco stockholders’ equity
Stockholders’ equity fluctuates between approximately 24.7% and 35.9%, mostly trending upward after an initial dip around 2020, indicating a strengthening in equity proportion of the capital structure in recent years.
Noncontrolling interests
Noncontrolling interests are minimal, varying near zero to just under 1%, and missing in later periods, signifying negligible influence of minority ownership stakes on total financing.
Total equity
Total equity percentage rises from about 30.8% in 2018 up to levels exceeding 35% around 2023, though it dips near 31% in early 2024 before recovering, consistent with strengthening equity financing relative to liabilities.
Total liabilities and equity
Always summing to 100%, confirming that the analyzed percentages fully allocate total financing between liabilities and equity components.