Stock Analysis on Net
Stock Analysis on Net

Costco Wholesale Corp. (NASDAQ:COST)

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

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

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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 24.69 28.40 25.66 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
Accrued salaries and benefits 6.74 6.25 6.75 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
Accrued member rewards 3.39 3.28 3.47 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
Deferred membership fees 3.74 3.61 3.70 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
Other current liabilities 10.19 8.96 8.55 9.85 10.82 8.97 9.04 10.69 11.43 9.86 10.63 9.33 10.77 9.27 8.86 9.44 9.62 9.16 9.04 8.55 8.12 14.33 6.88 10.74 10.45 11.00
Current liabilities 48.74% 50.50% 48.13% 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%
Long-term debt, excluding current portion 6.80 6.84 7.41 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
Long-term operating lease liabilities 2.96 2.94 3.19 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
Other long-term liabilities 3.14 3.12 3.44 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
Other liabilities 12.90% 12.90% 14.04% 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%
Total liabilities 61.64% 63.40% 62.17% 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%
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
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 0.00 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
Additional paid-in capital 10.25 10.16 10.74 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
Accumulated other comprehensive loss -1.92 -2.39 -2.30 -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
Retained earnings 30.04 28.83 29.38 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
Total Costco stockholders’ equity 38.36% 36.60% 37.83% 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%
Noncontrolling interests 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 0.85 0.88 0.84 0.87 0.86 0.87 0.75 0.76 0.78 0.79 0.71
Total equity 38.36% 36.60% 37.83% 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%
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%

Based on: 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 composition of liabilities and stockholders’ equity exhibited notable shifts over the observed period. Current liabilities generally represented the largest portion of total liabilities and equity, fluctuating between approximately 44% and 54% of the total. Long-term liabilities, encompassing long-term debt and lease obligations, consistently accounted for roughly 17% to 23% of the total. Stockholders’ equity demonstrated an increasing trend initially, followed by a period of relative stability and then a further increase, ultimately representing between 29% and 38% of the total.

Current Liabilities
Current liabilities as a percentage of total liabilities and equity decreased from 51.07% in November 2019 to a low of 44.03% in May 2020. A significant increase was then observed, peaking at 54.25% in November 2020, before fluctuating between approximately 47% and 52% through February 2024. A slight decrease to around 50% was noted in the most recent periods. Accounts payable consistently formed the largest component of current liabilities, typically ranging from 22% to 31% of the total. Accrued salaries and benefits and accrued member rewards also contributed significantly, generally between 6% and 8% and 2% and 4% respectively. Other current liabilities showed considerable volatility, increasing from 10.45% to 14.33% between February 2020 and November 2020, and then fluctuating between approximately 8% and 11%.
Long-Term Liabilities
Long-term debt, excluding the current portion, generally decreased over the period, falling from 9.93% in November 2019 to a low of 7.79% in May 2021, before stabilizing around 8% to 10% through November 2022. A further decline was observed in subsequent periods, reaching approximately 6.8% in the latest reporting periods. Long-term operating lease liabilities remained relatively stable, fluctuating between 3.12% and 5.01% of the total. Other long-term liabilities exhibited a similar pattern, decreasing from 3.48% to 3.14% over the observed timeframe.
Stockholders’ Equity
Total stockholders’ equity increased from 30.84% in November 2019 to a peak of 36.32% in May 2023, before decreasing slightly to 38.36% in February 2026. Retained earnings consistently represented the largest component of equity, increasing from 20.97% to 30.04% over the period, demonstrating strong earnings retention. Additional paid-in capital remained relatively stable, fluctuating between approximately 10% and 13%. Accumulated other comprehensive loss consistently represented a small negative percentage of total equity, ranging from -1.59% to -3.24%. Common stock remained a negligible component of total equity.

The observed trends suggest a dynamic balance between short-term and long-term financing. The initial decrease in current liabilities, followed by a substantial increase, may reflect changes in working capital management or seasonal fluctuations in business activity. The consistent growth in retained earnings indicates profitability and effective reinvestment of earnings. The decreasing trend in long-term debt suggests a shift towards alternative financing strategies or a reduction in reliance on debt financing.

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