Stock Analysis on Net

Costco Wholesale Corp. (NASDAQ:COST)

$24.99

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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Costco Wholesale Corp., consolidated balance sheet: assets (quarterly data)

US$ in millions

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
Cash and cash equivalents
Short-term investments
Receivables, net
Merchandise inventories
Other current assets
Current assets
Property and equipment, net
Operating lease right-of-use assets
Other long-term assets
Other assets
Total assets

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).


Analysis of the quarterly financial data reveals several notable trends and patterns across various asset categories over the observed periods.

Cash and Cash Equivalents

This category exhibits considerable fluctuation throughout the periods. Initial values around 6,778 million USD show an increasing trend, peaking at 17,011 million USD in November 2023, before experiencing a notable decline to 9,095 million USD by February 2024. Subsequent quarters show a recovery trend, rising back above 13,000 million USD by May 2024 and September 2024, and reaching 13,836 million USD by May 2025. These variations suggest changes in liquidity management or operational cash flow cycles.

Short-term Investments

Short-term investments demonstrate variability with generally moderate values between 700 and 1,500 million USD. Noteworthy is a peak near 1,500 million USD in September 2023, followed by declines and partial recovery. The fluctuations are less dramatic compared to cash, indicating a relatively stable but adaptive investment strategy in liquid securities or equivalents.

Receivables, Net

Receivables show moderate volatility but a general upward trajectory over time. Starting near 1,795 million USD, values fluctuate but consistently increase after 2021, reaching levels above 3,000 million USD by May 2025. This trend may reflect growth in sales volume, extended credit terms, or changes in customer base dynamics.

Merchandise Inventories

Inventory levels exhibit a distinct upward trend with significant seasonal and cyclical variations. Beginning around 12,205 million USD, inventories rise sharply to peak levels exceeding 20,000 million USD by late 2024 before a slight decrease is observed by mid-2025. The overall increase in inventory may signal expansion in merchandise assortment, stockpiling for anticipated demand, or supply chain considerations.

Other Current Assets

These assets generally increase over the period, from approximately 1,000 million USD to near 2,000 million USD. The steady growth suggests increasing prepaid expenses, deferred charges, or other short-term asset components linked with business growth or operational scaling.

Current Assets

Overall current assets correlate closely with the sum of individual current items, exhibiting strong growth from about 22,954 million USD initially to over 40,000 million USD by late 2023. Despite some decrease in early 2024, the trend remains upward, indicating improved short-term financial strength and liquidity.

Property and Equipment, Net

Fixed assets show steady and consistent growth over time, increasing from approximately 19,879 million USD to 30,582 million USD. This suggests ongoing capital investment or acquisition of long-term assets underpinning expansion or modernization in operations.

Operating Lease Right-of-Use Assets

Data becomes available from September 2019, showing values around 2,600 million USD with minor fluctuations and slight overall decline to approximately 2,531 million USD by early 2025. The relative stability may indicate a consistent leasing strategy, with possible lease term modifications or asset reclassifications.

Other Long-term Assets

These assets increase notably from just under 1,000 million USD initially to just above 4,000 million USD by mid-2025. The substantial rise implies accumulation of long-term investments, goodwill, or deferred tax assets consistent with corporate growth and asset diversification.

Other Assets

Other assets experience gradual growth, rising from roughly 20,860 million USD to over 37,300 million USD. This continual increase indicates accumulation of miscellaneous non-current assets that may include intangible assets, deferred charges, or equity investments expanding with overall enterprise growth.

Total Assets

Total assets display a strong growth trend, rising from approximately 43,814 million USD to a peak close to 73,723 million USD by November 2023. A slight drop to around 66,323 million USD is noted in early 2024, followed by recovery and further growth reaching 75,482 million USD by mid-2025. This overall upward trend reflects expanding business scale, asset acquisition, and increased operational capacity.


Assets: Selected Items


Current Assets: Selected Items