Debt to Equity
since 2005
Calculation
Costco Wholesale Corp., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Total Costco stockholders’ equity1 | |
|---|---|---|---|---|---|
| Sep 1, 2024 | 0.25 | = | 5,897) | ÷ | 23,622) |
| Sep 3, 2023 | 0.26 | = | 6,458) | ÷ | 25,058) |
| Aug 28, 2022 | 0.32 | = | 6,557) | ÷ | 20,642) |
| Aug 29, 2021 | 0.43 | = | 7,491) | ÷ | 17,564) |
| Aug 30, 2020 | 0.42 | = | 7,609) | ÷ | 18,284) |
| Sep 1, 2019 | 0.45 | = | 6,823) | ÷ | 15,243) |
| Sep 2, 2018 | 0.51 | = | 6,577) | ÷ | 12,799) |
| Sep 3, 2017 | 0.62 | = | 6,659) | ÷ | 10,778) |
| Aug 28, 2016 | 0.43 | = | 5,161) | ÷ | 12,079) |
| Aug 30, 2015 | 0.58 | = | 6,147) | ÷ | 10,617) |
| Aug 31, 2014 | 0.41 | = | 5,093) | ÷ | 12,303) |
| Sep 1, 2013 | 0.46 | = | 4,998) | ÷ | 10,833) |
| Sep 2, 2012 | 0.11 | = | 1,382) | ÷ | 12,361) |
| Aug 28, 2011 | 0.18 | = | 2,153) | ÷ | 12,002) |
| Aug 29, 2010 | 0.20 | = | 2,167) | ÷ | 10,829) |
| Aug 30, 2009 | 0.23 | = | 2,303) | ÷ | 10,024) |
| Aug 31, 2008 | 0.26 | = | 2,346) | ÷ | 9,192) |
| Sep 2, 2007 | 0.26 | = | 2,222) | ÷ | 8,623) |
| Sep 3, 2006 | 0.06 | = | 565) | ÷ | 9,143) |
| Aug 28, 2005 | 0.09 | = | 768) | ÷ | 8,881) |
Based on: 10-K (reporting date: 2024-09-01), 10-K (reporting date: 2023-09-03), 10-K (reporting date: 2022-08-28), 10-K (reporting date: 2021-08-29), 10-K (reporting date: 2020-08-30), 10-K (reporting date: 2019-09-01), 10-K (reporting date: 2018-09-02), 10-K (reporting date: 2017-09-03), 10-K (reporting date: 2016-08-28), 10-K (reporting date: 2015-08-30), 10-K (reporting date: 2014-08-31), 10-K (reporting date: 2013-09-01), 10-K (reporting date: 2012-09-02), 10-K (reporting date: 2011-08-28), 10-K (reporting date: 2010-08-29), 10-K (reporting date: 2009-08-30), 10-K (reporting date: 2008-08-31), 10-K (reporting date: 2007-09-02), 10-K (reporting date: 2006-09-03), 10-K (reporting date: 2005-08-28).
1 US$ in millions
The financial data reveals notable trends in the debt and equity structure over the analyzed periods. Total debt exhibits a general upward trajectory from 2005 through 2015, with some fluctuations thereafter. Initially, debt levels were relatively low, with modest increases until 2007. From 2008 onward, debt amounts show a significant rise, reaching a peak around 2015. After 2015, the debt values demonstrate variability but tend toward a gradual decrease in the most recent years, falling from 7609 million USD in 2020 to 5897 million USD in 2024.
In contrast, total stockholders’ equity indicates consistent growth throughout the periods. Starting at 8881 million USD in 2005, equity increases steadily, with some modest declines or plateaus occurring in intermittent years (notably around 2013 and 2015). The upward trend is especially steep from 2017 onwards, reaching a high of 25058 million USD in 2023 before a slight decrease to 23622 million USD in 2024. This pattern suggests strengthening shareholder equity over time.
The debt to equity ratio reflects these dynamics, showing low and stable values in the early years, generally below 0.30 until 2012. A sharp increase occurs from 2012 to 2015, with the ratio peaking at 0.62 in 2017, indicative of relatively higher leverage during this period. Following 2017, the ratio steadily declines, reaching 0.25 by 2024, which implies a conservative leverage position with debt constituting a smaller portion relative to equity in the most recent years.
- Total Debt
- Shows an overall increase from 2005 to 2015, peaking near 6150 million USD, followed by fluctuations and a downward trend after 2020.
- Total Stockholders’ Equity
- Demonstrates consistent growth across the entire period, with sizeable increases after 2017, culminating in a peak around 25000 million USD before a minor decline in the latest year.
- Debt to Equity Ratio
- Remained low through 2012, increased substantially until 2017, indicating heightened leverage, then gradually decreased thereafter, reaching levels close to those seen early in the period.
Overall, the patterns suggest a strategic shift over time from moderate use of debt financing toward a stronger equity base and reduced relative leverage in recent years. This trend may reflect policies focused on improving financial stability and reducing risk associated with high debt levels.
Comparison to Competitors
Costco Wholesale Corp., debt to equity, long-term trends, comparison to competitors
| Costco Wholesale Corp. | Target Corp. | Walmart Inc. | |
|---|---|---|---|
| Sep 1, 2024 | 0.25 | 1.19 | 0.56 |
| Sep 3, 2023 | 0.26 | 1.44 | 0.58 |
| Aug 28, 2022 | 0.32 | 1.07 | 0.51 |
| Aug 29, 2021 | 0.43 | 0.88 | 0.60 |
| Aug 30, 2020 | 0.42 | 0.97 | 0.73 |
| Sep 1, 2019 | 0.45 | 1.00 | 0.80 |
| Sep 2, 2018 | 0.51 | 0.99 | 0.60 |
| Sep 3, 2017 | 0.62 | 1.16 | 0.59 |
| Aug 28, 2016 | 0.43 | 0.98 | 0.62 |
| Aug 30, 2015 | 0.58 | 0.91 | 0.62 |
| Aug 31, 2014 | 0.41 | 0.85 | 0.74 |
| Sep 1, 2013 | 0.46 | 1.07 | 0.71 |
| Sep 2, 2012 | 0.11 | 1.11 | 0.75 |
| Aug 28, 2011 | 0.18 | 1.02 | 0.73 |
| Aug 29, 2010 | 0.20 | 1.10 | 0.58 |
| Aug 30, 2009 | 0.23 | 1.37 | 0.65 |
| Aug 31, 2008 | 0.26 | 1.12 | 0.69 |
| Sep 2, 2007 | 0.26 | 0.64 | 0.63 |
| Sep 3, 2006 | 0.06 | 0.69 | 0.73 |
| Aug 28, 2005 | 0.09 | 0.73 | 0.64 |
Based on: 10-K (reporting date: 2024-09-01), 10-K (reporting date: 2023-09-03), 10-K (reporting date: 2022-08-28), 10-K (reporting date: 2021-08-29), 10-K (reporting date: 2020-08-30), 10-K (reporting date: 2019-09-01), 10-K (reporting date: 2018-09-02), 10-K (reporting date: 2017-09-03), 10-K (reporting date: 2016-08-28), 10-K (reporting date: 2015-08-30), 10-K (reporting date: 2014-08-31), 10-K (reporting date: 2013-09-01), 10-K (reporting date: 2012-09-02), 10-K (reporting date: 2011-08-28), 10-K (reporting date: 2010-08-29), 10-K (reporting date: 2009-08-30), 10-K (reporting date: 2008-08-31), 10-K (reporting date: 2007-09-02), 10-K (reporting date: 2006-09-03), 10-K (reporting date: 2005-08-28).
Comparison to Sector (Consumer Staples Distribution & Retail)
Costco Wholesale Corp., debt to equity, long-term trends, comparison to sector (consumer staples distribution & retail)
| Costco Wholesale Corp. | Consumer Staples Distribution & Retail | |
|---|---|---|
| Sep 1, 2024 | 0.25 | 0.57 |
| Sep 3, 2023 | 0.26 | 0.59 |
| Aug 28, 2022 | 0.32 | 0.54 |
| Aug 29, 2021 | 0.43 | 0.61 |
| Aug 30, 2020 | 0.42 | 0.70 |
| Sep 1, 2019 | 0.45 | 0.77 |
| Sep 2, 2018 | 0.51 | 0.63 |
| Sep 3, 2017 | 0.62 | 0.66 |
| Aug 28, 2016 | 0.43 | 0.64 |
| Aug 30, 2015 | 0.58 | 0.65 |
| Aug 31, 2014 | 0.41 | 0.72 |
| Sep 1, 2013 | 0.46 | 0.74 |
| Sep 2, 2012 | 0.11 | 0.73 |
| Aug 28, 2011 | 0.18 | 0.71 |
| Aug 29, 2010 | 0.20 | 0.62 |
| Aug 30, 2009 | 0.23 | 0.71 |
| Aug 31, 2008 | 0.26 | 0.72 |
| Sep 2, 2007 | 0.26 | 0.60 |
| Sep 3, 2006 | 0.06 | 0.64 |
| Aug 28, 2005 | 0.09 | 0.59 |
Based on: 10-K (reporting date: 2024-09-01), 10-K (reporting date: 2023-09-03), 10-K (reporting date: 2022-08-28), 10-K (reporting date: 2021-08-29), 10-K (reporting date: 2020-08-30), 10-K (reporting date: 2019-09-01), 10-K (reporting date: 2018-09-02), 10-K (reporting date: 2017-09-03), 10-K (reporting date: 2016-08-28), 10-K (reporting date: 2015-08-30), 10-K (reporting date: 2014-08-31), 10-K (reporting date: 2013-09-01), 10-K (reporting date: 2012-09-02), 10-K (reporting date: 2011-08-28), 10-K (reporting date: 2010-08-29), 10-K (reporting date: 2009-08-30), 10-K (reporting date: 2008-08-31), 10-K (reporting date: 2007-09-02), 10-K (reporting date: 2006-09-03), 10-K (reporting date: 2005-08-28).
Comparison to Industry (Consumer Staples)
Costco Wholesale Corp., debt to equity, long-term trends, comparison to industry (consumer staples)
| Costco Wholesale Corp. | Consumer Staples | |
|---|---|---|
| Sep 1, 2024 | 0.25 | 1.11 |
| Sep 3, 2023 | 0.26 | 1.15 |
| Aug 28, 2022 | 0.32 | 1.07 |
| Aug 29, 2021 | 0.43 | 1.07 |
| Aug 30, 2020 | 0.42 | 1.24 |
| Sep 1, 2019 | 0.45 | 1.18 |
| Sep 2, 2018 | 0.51 | 1.11 |
| Sep 3, 2017 | 0.62 | 1.20 |
| Aug 28, 2016 | 0.43 | 1.09 |
| Aug 30, 2015 | 0.58 | 1.00 |
| Aug 31, 2014 | 0.41 | 0.96 |
| Sep 1, 2013 | 0.46 | 0.87 |
| Sep 2, 2012 | 0.11 | 0.83 |
| Aug 28, 2011 | 0.18 | 0.80 |
| Aug 29, 2010 | 0.20 | 0.74 |
| Aug 30, 2009 | 0.23 | 0.69 |
| Aug 31, 2008 | 0.26 | 0.68 |
| Sep 2, 2007 | 0.26 | 0.55 |
| Sep 3, 2006 | 0.06 | 0.52 |
| Aug 28, 2005 | 0.09 | 0.59 |
Based on: 10-K (reporting date: 2024-09-01), 10-K (reporting date: 2023-09-03), 10-K (reporting date: 2022-08-28), 10-K (reporting date: 2021-08-29), 10-K (reporting date: 2020-08-30), 10-K (reporting date: 2019-09-01), 10-K (reporting date: 2018-09-02), 10-K (reporting date: 2017-09-03), 10-K (reporting date: 2016-08-28), 10-K (reporting date: 2015-08-30), 10-K (reporting date: 2014-08-31), 10-K (reporting date: 2013-09-01), 10-K (reporting date: 2012-09-02), 10-K (reporting date: 2011-08-28), 10-K (reporting date: 2010-08-29), 10-K (reporting date: 2009-08-30), 10-K (reporting date: 2008-08-31), 10-K (reporting date: 2007-09-02), 10-K (reporting date: 2006-09-03), 10-K (reporting date: 2005-08-28).