Stock Analysis on Net

Costco Wholesale Corp. (NASDAQ:COST)

$24.99

Price to Sales (P/S)
since 2005

Microsoft Excel

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Calculation

Costco Wholesale Corp., P/S, long-term trends, calculation

Microsoft Excel

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 an overall upward trajectory from 2005 through 2025. Beginning at approximately $50.06 in 2005, the price experienced steady increases with some fluctuations, reaching $81.77 in 2011 and continuing to climb significantly in later years. Notably, from 2018 onward, the share price accelerated sharply, surpassing $500 in 2023 and approaching values above $900 by 2025. This suggests strong market confidence and perceived value growth over the two decades.
Sales Per Share Movement
Sales per share demonstrated consistent growth over the period. Starting near $109.85 in 2005, sales per share developed steadily without major setbacks, progressing to over $200 by 2011 and continuing to increase each subsequent year. By 2025, sales per share reached roughly $609.04. This indicates ongoing revenue growth relative to the number of shares outstanding, reflecting business expansion and stronger sales performance.
Price-to-Sales (P/S) Ratio Analysis
The P/S ratio showed varying patterns. Initially, it fluctuated between 0.35 and 0.46 through the early years up to 2009, indicating moderate market valuation relative to sales. From 2010 to 2017, the ratio generally trended upward, moving from around 0.36 to approximately 0.58, implying increasing investor willingness to pay more per unit of sales. The most significant rise occurred from 2018 onwards, where the ratio increased from about 0.55 to peak at roughly 1.61 in 2024, before a slight decline to 1.5 in 2025. This surge suggests heightened market optimism or expectations for future growth and profitability beyond historical sales figures.
Overall Insights
The data reflects robust growth in both stock price and sales performance, with share price appreciating at a faster rate than sales per share, especially in the recent five-year period. The rising P/S ratio corroborates an increased valuation premium, possibly due to improved profitability prospects, market conditions, or investor sentiment. The consistent sales growth supports a stable operational foundation, while the elevated market multiples highlight expectations for sustained or accelerating future performance.

Comparison to Competitors


Comparison to Sector (Consumer Staples Distribution & Retail)

Costco Wholesale Corp., P/S, long-term trends, comparison to sector (consumer staples distribution & retail)

Microsoft Excel

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)