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
May 10, 2026 Feb 15, 2026 Nov 23, 2025 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
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-Q (reporting date: 2026-05-10), 10-Q (reporting date: 2026-02-15), 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).


The capitalization structure exhibits a progressive shift from a higher reliance on liabilities toward a strengthened equity base. Total liabilities declined from 68.45% in November 2019 to 61.23% by May 2026, while total equity increased from 31.55% to 38.77% over the same period. This trend indicates a gradual deleveraging of the balance sheet and an increase in the proportion of internally generated capital.

Current Liability Trends
Current liabilities consistently represent the largest portion of the funding structure, typically fluctuating between 44% and 54% of total liabilities and equity. Accounts payable serve as the primary driver within this category, ranging from a low of 20.90% to a high of 30.49%, reflecting a consistent reliance on trade credit to manage operational liquidity.
Long-Term Debt and Solvency
A significant reduction in long-term leverage is observed. Long-term debt, excluding the current portion, peaked at 14.69% in May 2020 and followed a sustained downward trajectory to reach 6.56% by May 2026. This contraction in long-term debt, coupled with the decline in long-term operating lease liabilities from 4.75% to 2.85%, suggests a strategic effort to reduce fixed financial obligations.
Equity and Retained Earnings Growth
The expansion of total equity is primarily attributed to the growth of retained earnings, which rose from 20.97% in November 2019 to 30.64% by May 2026. This growth signifies strong profit retention and an increasing capacity to fund assets through equity rather than external borrowing. Additional paid-in capital remained relatively stable, hovering between 10% and 13%.
Operational Liability Stability
Deferred membership fees have remained remarkably stable, generally oscillating between 3.3% and 3.8%, which underscores the consistency of the membership-based revenue model. Accrued member rewards showed a slight upward trend, increasing from 2.32% in 2019 to 3.41% by 2026, indicating a marginal increase in the liability associated with member loyalty programs relative to the total balance sheet.