Price to Book Value (P/BV)
since 2005
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Costco Wholesale Corp. pages available for free this week:
- Cash Flow Statement
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
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Calculation
Costco Wholesale Corp., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total Costco stockholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Oct 8, 2025 | = | ÷ | = | ÷ | |||||||
| Oct 9, 2024 | = | ÷ | = | ÷ | |||||||
| Oct 11, 2023 | = | ÷ | = | ÷ | |||||||
| Oct 5, 2022 | = | ÷ | = | ÷ | |||||||
| Oct 6, 2021 | = | ÷ | = | ÷ | |||||||
| Oct 7, 2020 | = | ÷ | = | ÷ | |||||||
| Oct 11, 2019 | = | ÷ | = | ÷ | |||||||
| Oct 26, 2018 | = | ÷ | = | ÷ | |||||||
| Oct 18, 2017 | = | ÷ | = | ÷ | |||||||
| Oct 12, 2016 | = | ÷ | = | ÷ | |||||||
| Oct 14, 2015 | = | ÷ | = | ÷ | |||||||
| Oct 15, 2014 | = | ÷ | = | ÷ | |||||||
| Oct 16, 2013 | = | ÷ | = | ÷ | |||||||
| Oct 19, 2012 | = | ÷ | = | ÷ | |||||||
| Oct 14, 2011 | = | ÷ | = | ÷ | |||||||
| Oct 18, 2010 | = | ÷ | = | ÷ | |||||||
| Oct 16, 2009 | = | ÷ | = | ÷ | |||||||
| Oct 16, 2008 | = | ÷ | = | ÷ | |||||||
| Oct 25, 2007 | = | ÷ | = | ÷ | |||||||
| Nov 17, 2006 | = | ÷ | = | ÷ | |||||||
| Nov 10, 2005 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-08-31), 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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Costco Wholesale Corp. Annual Report.
- Share Price Trend
- The share price exhibited a substantial upward trajectory throughout the analyzed period. Starting at $50.06, it experienced gradual increases with some fluctuations until around 2014, after which the growth notably accelerated. By 2024 and 2025, the share price surged dramatically to over $900, indicating strong market performance and investor confidence in recent years.
- Book Value per Share (BVPS) Development
- The book value per share displayed a steady yet moderate upward movement over the years. Starting from $18.81, it increased gradually with occasional declines and volatility. Despite some fluctuations, the BVPS rose from below $20 in 2005 to approximately $65.81 by 2025, reflecting a consistent build-up of net asset value on a per-share basis.
- Price-to-Book Value Ratio (P/BV) Analysis
- The price-to-book value ratio showed considerable growth, starting at 2.66 and advancing to a peak of 17.05 in 2024 before slightly retreating to 13.9 the following year. The increase in the P/BV ratio suggests that market valuation outpaced the growth in book value, highlighting greater investor optimism, potential expectations of future earnings growth, or possibly an elevated premium for the company's shares over their accounting value.
- Overall Insights
- The combined trends suggest that while the company's intrinsic net asset value (as represented by BVPS) increased steadily, the market's valuation of the company accelerated at a much faster pace particularly in the last decade. This disparity is captured in the rising P/BV ratio, signaling increased market confidence and possibly higher growth expectations. The strong increase in share price relative to book value indicates that investors may be valuing factors beyond the book assets, such as brand strength, market position, or future earnings prospects.
Comparison to Competitors
Costco Wholesale Corp., P/BV, long-term trends, comparison to competitors
| Costco Wholesale Corp. | Target Corp. | Walmart Inc. | |
|---|---|---|---|
| Oct 8, 2025 | |||
| Oct 9, 2024 | |||
| Oct 11, 2023 | |||
| Oct 5, 2022 | |||
| Oct 6, 2021 | |||
| Oct 7, 2020 | |||
| Oct 11, 2019 | |||
| Oct 26, 2018 | |||
| Oct 18, 2017 | |||
| Oct 12, 2016 | |||
| Oct 14, 2015 | |||
| Oct 15, 2014 | |||
| Oct 16, 2013 | |||
| Oct 19, 2012 | |||
| Oct 14, 2011 | |||
| Oct 18, 2010 | |||
| Oct 16, 2009 | |||
| Oct 16, 2008 | |||
| Oct 25, 2007 | |||
| Nov 17, 2006 | |||
| Nov 10, 2005 |
Based on: 10-K (reporting date: 2025-08-31), 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., P/BV, long-term trends, comparison to sector (consumer staples distribution & retail)
| Costco Wholesale Corp. | Consumer Staples Distribution & Retail | |
|---|---|---|
| Oct 8, 2025 | ||
| Oct 9, 2024 | ||
| Oct 11, 2023 | ||
| Oct 5, 2022 | ||
| Oct 6, 2021 | ||
| Oct 7, 2020 | ||
| Oct 11, 2019 | ||
| Oct 26, 2018 | ||
| Oct 18, 2017 | ||
| Oct 12, 2016 | ||
| Oct 14, 2015 | ||
| Oct 15, 2014 | ||
| Oct 16, 2013 | ||
| Oct 19, 2012 | ||
| Oct 14, 2011 | ||
| Oct 18, 2010 | ||
| Oct 16, 2009 | ||
| Oct 16, 2008 | ||
| Oct 25, 2007 | ||
| Nov 17, 2006 | ||
| Nov 10, 2005 |
Based on: 10-K (reporting date: 2025-08-31), 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., P/BV, long-term trends, comparison to industry (consumer staples)
| Costco Wholesale Corp. | Consumer Staples | |
|---|---|---|
| Oct 8, 2025 | ||
| Oct 9, 2024 | ||
| Oct 11, 2023 | ||
| Oct 5, 2022 | ||
| Oct 6, 2021 | ||
| Oct 7, 2020 | ||
| Oct 11, 2019 | ||
| Oct 26, 2018 | ||
| Oct 18, 2017 | ||
| Oct 12, 2016 | ||
| Oct 14, 2015 | ||
| Oct 15, 2014 | ||
| Oct 16, 2013 | ||
| Oct 19, 2012 | ||
| Oct 14, 2011 | ||
| Oct 18, 2010 | ||
| Oct 16, 2009 | ||
| Oct 16, 2008 | ||
| Oct 25, 2007 | ||
| Nov 17, 2006 | ||
| Nov 10, 2005 |
Based on: 10-K (reporting date: 2025-08-31), 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).