Name: Costco Wholesale Corp. (NASDAQ:COST) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Costco Wholesale Corp., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Aug 30, 2026	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
Net sales	93,873)	69,154)	68,242)	65,978)	84,432)	61,965)	62,530)	60,985)	78,185)	57,392)	57,331)	56,717)	77,430)	52,604)	54,239)	53,437)	70,764)	51,612)	50,937)	49,417)	61,441)	44,376)	43,888)	42,347)
Merchandise costs	(83,531)	(61,519)	(60,719)	(58,510)	(75,037)	(54,996)	(55,744)	(54,109)	(69,588)	(51,173)	(51,140)	(50,457)	(69,219)	(47,175)	(48,423)	(47,769)	(63,558)	(46,355)	(45,517)	(43,952)	(54,733)	(39,415)	(39,078)	(37,458)
Gross margin	10,342)	7,635)	7,523)	7,468)	9,395)	6,969)	6,786)	6,876)	8,597)	6,219)	6,191)	6,260)	8,211)	5,429)	5,816)	5,668)	7,206)	5,257)	5,420)	5,465)	6,708)	4,961)	4,810)	4,889)
Membership fees	1,850)	1,373)	1,355)	1,329)	1,724)	1,240)	1,193)	1,166)	1,512)	1,123)	1,111)	1,082)	1,509)	1,044)	1,027)	1,000)	1,327)	984)	967)	946)	1,234)	901)	881)	861)
Selling, general and administrative	(8,391)	(6,193)	(6,272)	(6,334)	(7,778)	(5,679)	(5,663)	(5,846)	(7,067)	(5,145)	(5,240)	(5,358)	(6,939)	(4,794)	(4,940)	(4,917)	(6,036)	(4,450)	(4,575)	(4,718)	(5,667)	(4,199)	(4,351)	(4,320)
Operating income	3,801)	2,815)	2,606)	2,463)	3,341)	2,530)	2,316)	2,196)	3,042)	2,197)	2,062)	1,984)	2,781)	1,679)	1,903)	1,751)	2,497)	1,791)	1,812)	1,693)	2,275)	1,663)	1,340)	1,430)
Interest expense	(45)	(32)	(33)	(35)	(46)	(35)	(36)	(37)	(49)	(41)	(41)	(38)	(56)	(36)	(34)	(34)	(48)	(35)	(36)	(39)	(52)	(40)	(40)	(39)
Interest income and other, net	253)	155)	148)	155)	215)	85)	142)	147)	120)	128)	216)	160)	238)	128)	114)	53)	67)	71)	25)	42)	68)	27)	19)	29)
Other income (expense)	208)	123)	115)	120)	169)	50)	106)	110)	71)	87)	175)	122)	182)	92)	80)	19)	19)	36)	(11)	3)	16)	(13)	(21)	(10)
Income before income taxes	4,009)	2,938)	2,721)	2,583)	3,510)	2,580)	2,422)	2,306)	3,113)	2,284)	2,237)	2,106)	2,963)	1,771)	1,983)	1,770)	2,516)	1,827)	1,801)	1,696)	2,291)	1,650)	1,319)	1,420)
Provision for income taxes	(1,011)	(746)	(686)	(582)	(900)	(677)	(634)	(508)	(759)	(603)	(494)	(517)	(803)	(469)	(517)	(406)	(638)	(455)	(481)	(351)	(597)	(417)	(348)	(239)
Net income including noncontrolling interests	2,998)	2,192)	2,035)	2,001)	2,610)	1,903)	1,788)	1,798)	2,354)	1,681)	1,743)	1,589)	2,160)	1,302)	1,466)	1,364)	1,878)	1,372)	1,320)	1,345)	1,694)	1,233)	971)	1,181)
Net income attributable to noncontrolling interests	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(10)	(19)	(21)	(21)	(24)	(13)	(20)	(15)
Net income attributable to Costco	2,998)	2,192)	2,035)	2,001)	2,610)	1,903)	1,788)	1,798)	2,354)	1,681)	1,743)	1,589)	2,160)	1,302)	1,466)	1,364)	1,868)	1,353)	1,299)	1,324)	1,670)	1,220)	951)	1,166)

Financial performance over the analyzed period demonstrates a consistent upward trajectory in both top-line revenue and bottom-line profitability. A distinct seasonal pattern is evident, with significant peaks in net sales and membership fees occurring during the August and September reporting periods each year.

Revenue and Membership Growth: Net sales expanded from $42.3 billion in November 2020 to $93.8 billion by August 2026. This growth is supported by a steady increase in membership fee revenue, which rose from $861 million to $1.85 billion. The growth in membership fees suggests a strengthening of the recurring revenue base, which typically carries higher margins than merchandise sales.
Gross Margin and Cost Analysis: Gross margins scaled in tandem with revenue, increasing from $4.8 billion to $10.3 billion. The relationship between merchandise costs and net sales remained relatively stable, indicating that the cost of goods sold was managed effectively in proportion to sales growth throughout the period.
Operational Efficiency: Operating income grew from $1.43 billion to $3.8 billion. While selling, general, and administrative expenses increased from $4.3 billion to $8.3 billion, the growth in operating income indicates that the expansion of scale has allowed for improved operational leverage over time.
Non-Operating Income and Net Profitability: A significant increase in interest income and other miscellaneous income is observed beginning in 2023, which contributed positively to income before taxes. Consequently, net income attributable to the company grew from $1.16 billion in November 2020 to $2.99 billion by August 2026, reflecting a robust increase in overall profitability.

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Costco Wholesale Corp. (NASDAQ:COST)

Income StatementQuarterly Data

Income Statement
Quarterly Data