Selected Financial Data
since 2005
Income Statement
Costco Wholesale Corp., selected items from income statement, long-term trends
US$ in millions
| 12 months ended: | Net sales | Operating income | Net income attributable to Costco |
|---|---|---|---|
| Sep 1, 2024 | 249,625) | 9,285) | 7,367) |
| Sep 3, 2023 | 237,710) | 8,114) | 6,292) |
| Aug 28, 2022 | 222,730) | 7,793) | 5,844) |
| Aug 29, 2021 | 192,052) | 6,708) | 5,007) |
| Aug 30, 2020 | 163,220) | 5,435) | 4,002) |
| Sep 1, 2019 | 149,351) | 4,737) | 3,659) |
| Sep 2, 2018 | 138,434) | 4,480) | 3,134) |
| Sep 3, 2017 | 126,172) | 4,111) | 2,679) |
| Aug 28, 2016 | 116,073) | 3,672) | 2,350) |
| Aug 30, 2015 | 113,666) | 3,624) | 2,377) |
| Aug 31, 2014 | 110,212) | 3,220) | 2,058) |
| Sep 1, 2013 | 102,870) | 3,053) | 2,039) |
| Sep 2, 2012 | 97,062) | 2,759) | 1,709) |
| Aug 28, 2011 | 87,048) | 2,439) | 1,462) |
| Aug 29, 2010 | 76,255) | 2,077) | 1,303) |
| Aug 30, 2009 | 69,889) | 1,777) | 1,086) |
| Aug 31, 2008 | 70,977) | 1,969) | 1,283) |
| Sep 2, 2007 | 63,088) | 1,609) | 1,083) |
| Sep 3, 2006 | 58,963) | 1,626) | 1,103) |
| Aug 28, 2005 | 51,862) | 1,474) | 1,063) |
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).
The financial data over the analyzed periods indicate a consistent upward trend in key performance metrics for the company.
- Net Sales
- Net sales showed steady growth throughout the years. Starting at approximately 51.9 billion US dollars in 2005, they increased consistently to reach nearly 250 billion US dollars by 2024. Notable increments were observed especially after 2015, indicating an accelerated revenue expansion phase.
- Operating Income
- Operating income followed a generally upward trajectory in alignment with net sales. Beginning at 1.5 billion US dollars in 2005, it rose steadily, crossing 9 billion US dollars by 2024. This suggests improving operational efficiency or successful scaling effects over time. Occasional fluctuations in the growth rate are minor and do not detract from the overall favorable trend.
- Net Income Attributable to Costco
- Net income attributable to the company increased consistently from just over 1 billion US dollars in 2005 to more than 7 billion US dollars in 2024. This growth reflects effective cost management and profitability enhancement, with the rate of increase generally mirroring that of operating income but showing stronger growth in the later years.
Overall, the data reveals robust growth in sales, operational profitability, and net earnings across the nearly two-decade span. The positive trends indicate longevity in business expansion and financial performance improvement, with no substantial indications of declining margins or revenue challenges during this timeframe.
Balance Sheet: Assets
Costco Wholesale Corp., selected items from assets, long-term trends
US$ in millions
| Current assets | Total assets | |
|---|---|---|
| Sep 1, 2024 | 34,246) | 69,831) |
| Sep 3, 2023 | 35,879) | 68,994) |
| Aug 28, 2022 | 32,696) | 64,166) |
| Aug 29, 2021 | 29,505) | 59,268) |
| Aug 30, 2020 | 28,120) | 55,556) |
| Sep 1, 2019 | 23,485) | 45,400) |
| Sep 2, 2018 | 20,289) | 40,830) |
| Sep 3, 2017 | 17,317) | 36,347) |
| Aug 28, 2016 | 15,218) | 33,163) |
| Aug 30, 2015 | 17,299) | 33,440) |
| Aug 31, 2014 | 17,588) | 33,024) |
| Sep 1, 2013 | 15,840) | 30,283) |
| Sep 2, 2012 | 13,526) | 27,140) |
| Aug 28, 2011 | 13,706) | 26,761) |
| Aug 29, 2010 | 11,708) | 23,815) |
| Aug 30, 2009 | 10,337) | 21,979) |
| Aug 31, 2008 | 9,462) | 20,682) |
| Sep 2, 2007 | 9,324) | 19,607) |
| Sep 3, 2006 | 8,232) | 17,495) |
| Aug 28, 2005 | 8,086) | 16,514) |
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).
The financial data reveals a consistent upward trend in both current assets and total assets over the observed period from 2005 to 2024.
- Current Assets
- The current assets exhibit steady growth, increasing from $8,086 million in 2005 to a peak of $35,879 million in 2023. This represents a more than fourfold increase over the 18-year period. Notably, the growth is relatively consistent year-over-year, with minor fluctuations. For instance, there is a slight decline in 2016 to $15,218 million from $17,299 million in 2015, before rising again in subsequent years. The increase is particularly pronounced after 2014, indicating an acceleration in asset accumulation. However, in the latest year (2024), there is a decline to $34,246 million from the previous year’s peak, suggesting a possible asset reallocation or other operational changes.
- Total Assets
- Total assets follow a similar upward trajectory, starting at $16,514 million in 2005 and reaching $69,831 million in 2024. The growth pattern is steady, with only minor periods of stagnation or slight decline, such as between 2015 and 2016 when assets decreased marginally from $33,440 million to $33,163 million. The most significant increases are observed post-2014, paralleling the trend seen in current assets. This suggests overall expansion in the company’s asset base, likely reflecting investments, acquisitions, or enhanced operational scale. The steady expansion in total assets suggests strengthening of the company’s balance sheet and likely enhanced capacity for operations and financing.
- Comparative Insights
- The ratio of current assets to total assets appears to fluctuate but generally suggests a stable proportion of liquid assets relative to overall assets. The sustained growth in current assets indicates effective management of short-term resources, which can contribute to liquidity management. Meanwhile, the growth in total assets indicates long-term investment and expansion strategies. The small decline in current assets in the last observed year, paired with a continued increase in total assets, might indicate a shift toward more fixed or long-term asset investments or changes in working capital management.
Balance Sheet: Liabilities and Stockholders’ Equity
Costco Wholesale Corp., selected items from liabilities and stockholders’ equity, long-term trends
US$ in millions
| Current liabilities | Total liabilities | Total debt | Total Costco stockholders’ equity | |
|---|---|---|---|---|
| Sep 1, 2024 | 35,464) | 46,209) | 5,897) | 23,622) |
| Sep 3, 2023 | 33,583) | 43,936) | 6,458) | 25,058) |
| Aug 28, 2022 | 31,998) | 43,519) | 6,557) | 20,642) |
| Aug 29, 2021 | 29,441) | 41,190) | 7,491) | 17,564) |
| Aug 30, 2020 | 24,844) | 36,851) | 7,609) | 18,284) |
| Sep 1, 2019 | 23,237) | 29,816) | 6,823) | 15,243) |
| Sep 2, 2018 | 19,926) | 27,727) | 6,577) | 12,799) |
| Sep 3, 2017 | 17,495) | 25,268) | 6,659) | 10,778) |
| Aug 28, 2016 | 15,575) | 20,831) | 5,161) | 12,079) |
| Aug 30, 2015 | 16,540) | 22,597) | 6,147) | 10,617) |
| Aug 31, 2014 | 14,412) | 20,509) | 5,093) | 12,303) |
| Sep 1, 2013 | 13,257) | 19,271) | 4,998) | 10,833) |
| Sep 2, 2012 | 12,260) | 14,622) | 1,382) | 12,361) |
| Aug 28, 2011 | 12,050) | 14,188) | 2,153) | 12,002) |
| Aug 29, 2010 | 10,063) | 12,885) | 2,167) | 10,829) |
| Aug 30, 2009 | 9,281) | 11,875) | 2,303) | 10,024) |
| Aug 31, 2008 | 8,874) | 11,408) | 2,346) | 9,192) |
| Sep 2, 2007 | 8,582) | 10,914) | 2,222) | 8,623) |
| Sep 3, 2006 | 7,819) | 8,288) | 565) | 9,143) |
| Aug 28, 2005 | 6,609) | 7,574) | 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).
- Current liabilities
- Current liabilities showed a consistent upward trend over the period analyzed. Starting from $6,609 million in 2005, these liabilities increased steadily each year, reaching $35,464 million by 2024. This represents a more than fivefold increase, indicating growing short-term obligations that may correspond with the company's expanding operations and increased working capital requirements.
- Total liabilities
- Total liabilities also exhibited continuous growth throughout the period. Beginning at $7,574 million in 2005, total liabilities rose to $46,209 million by 2024. There was a notable jump between 2012 and 2013, as the figure increased from approximately $14,622 million to $19,271 million. This trend suggests an overall increase in both short-term and long-term liabilities, reflecting expanded financing or operational scale.
- Total debt
- Total debt demonstrated a fluctuating pattern with an overall increasing tendency until around 2015, after which it generally declined. Starting at $768 million in 2005, debt rose markedly to a peak around $6,147 million in 2014, then decreased moderately to approximately $5,897 million by 2024. The fluctuations may indicate periods of active debt financing followed by repayments or restructuring strategies to optimize capital costs.
- Total Costco stockholders' equity
- Stockholders’ equity grew over the period, though with variability. From $8,881 million in 2005, equity increased to a peak of $25,058 million in 2023 before a slight decline to $23,622 million in 2024. Equity growth suggests retained earnings and accumulated capital growth, consistent with long-term company value increase. The minor recent decrease may suggest share repurchases, dividend distributions, or other equity adjustments.
Cash Flow Statement
Costco Wholesale Corp., selected items from cash flow statement, long-term trends
US$ in millions
| 12 months ended: | Net cash provided by operating activities | Net cash used in investing activities | Net cash provided by (used in) financing activities |
|---|---|---|---|
| Sep 1, 2024 | 11,339) | (4,409) | (10,764) |
| Sep 3, 2023 | 11,068) | (4,972) | (2,614) |
| Aug 28, 2022 | 7,392) | (3,915) | (4,283) |
| Aug 29, 2021 | 8,958) | (3,535) | (6,488) |
| Aug 30, 2020 | 8,861) | (3,891) | (1,147) |
| Sep 1, 2019 | 6,356) | (2,865) | (1,147) |
| Sep 2, 2018 | 5,774) | (2,947) | (1,281) |
| Sep 3, 2017 | 6,726) | (2,366) | (3,218) |
| Aug 28, 2016 | 3,292) | (2,345) | (2,419) |
| Aug 30, 2015 | 4,285) | (2,480) | (2,324) |
| Aug 31, 2014 | 3,984) | (2,093) | (786) |
| Sep 1, 2013 | 3,437) | (2,251) | 44) |
| Sep 2, 2012 | 3,057) | (1,236) | (2,281) |
| Aug 28, 2011 | 3,198) | (1,180) | (1,277) |
| Aug 29, 2010 | 2,780) | (2,015) | (719) |
| Aug 30, 2009 | 2,092) | (1,101) | (439) |
| Aug 31, 2008 | 2,176) | (1,716) | (613) |
| Sep 2, 2007 | 2,076) | (655) | (165) |
| Sep 3, 2006 | 1,827) | (1,154) | (1,233) |
| Aug 28, 2005 | 1,783) | (2,059) | (519) |
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).
The analysis of the annual cash flow activities over the reported periods reveals several notable trends in operational, investing, and financing cash flows.
- Operating Activities
-
Net cash provided by operating activities shows a generally increasing trend from 2005 through 2024. Starting at $1,783 million in 2005, the value fluctuates moderately with notable rises around 2014–2017, peaking in 2020 at $8,861 million. Despite a slight decrease in some years, the positive operational cash flow remains relatively strong, reaching approximately $11,339 million by 2024. This consistent improvement indicates effective core business operations generating increasing cash inflows over time.
- Investing Activities
-
Net cash used in investing activities consistently reflects cash outflows throughout the years, indicative of ongoing investments in the company. The outflows begin at $2,059 million in 2005 but show some variability — decreasing in certain years such as 2007 ($655 million) and increasing substantially in later periods, especially post-2017. The highest cash outflows occur between 2020 and 2023, with amounts near or exceeding $4,000 million annually, before slightly reducing in 2024 to $4,409 million. This pattern suggests continuous capital expenditures or acquisitions, possibly supporting future operational growth.
- Financing Activities
-
Net cash from financing activities mostly records negative values across the reported years, indicating more cash outflows than inflows in financing. The magnitude of cash used in financing typically increases after 2010, with exceptionally large outflows observed in 2021 and 2024, peaking at $10,764 million in 2024. Occasional positive financing cash flows occurred, such as in 2012, but are rare and generally small compared to outflows. This consistent pattern may reflect significant debt repayments, stock buybacks, or dividend payments as part of the company's capital management strategy.
Overall, the data indicates a company generating increasing cash from operations, which supports substantial and rising investments while simultaneously returning value to shareholders or reducing liabilities through significant financing cash outflows. The cash flow trends suggest healthy operational performance coupled with aggressive investment and financial management activities aimed at sustaining growth and shareholder returns.
Per Share Data
Costco Wholesale Corp., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Sep 1, 2024 | 16.59 | 16.56 | 19.36 |
| Sep 3, 2023 | 14.18 | 14.16 | 3.84 |
| Aug 28, 2022 | 13.17 | 13.14 | 3.38 |
| Aug 29, 2021 | 11.30 | 11.27 | 12.98 |
| Aug 30, 2020 | 9.05 | 9.02 | 2.70 |
| Sep 1, 2019 | 8.32 | 8.26 | 2.44 |
| Sep 2, 2018 | 7.15 | 7.09 | 2.14 |
| Sep 3, 2017 | 6.11 | 6.08 | 8.90 |
| Aug 28, 2016 | 5.36 | 5.33 | 1.70 |
| Aug 30, 2015 | 5.41 | 5.37 | 6.51 |
| Aug 31, 2014 | 4.69 | 4.65 | 1.33 |
| Sep 1, 2013 | 4.68 | 4.63 | 8.17 |
| Sep 2, 2012 | 3.94 | 3.89 | 1.03 |
| Aug 28, 2011 | 3.35 | 3.30 | 0.89 |
| Aug 29, 2010 | 2.97 | 2.92 | 0.77 |
| Aug 30, 2009 | 2.50 | 2.47 | 0.68 |
| Aug 31, 2008 | 2.95 | 2.89 | 0.61 |
| Sep 2, 2007 | 2.42 | 2.37 | 0.55 |
| Sep 3, 2006 | 2.35 | 2.30 | 0.49 |
| Aug 28, 2005 | 2.24 | 2.18 | 0.43 |
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, 2, 3 Data adjusted for splits and stock dividends.
The financial data shows clear upward trends in both earnings per share and dividends per share over the reported periods. The earnings per share, including both basic and diluted, demonstrate consistent growth with some periods of accelerated increase.
- Basic Earnings Per Share (EPS)
- The basic EPS increased steadily from $2.24 in 2005 to $16.59 in 2024. This reflects a compound growth with occasional years showing stronger increments, particularly notable from 2017 onward. The growth magnitude intensified after 2015, reaching a peak increase between 2022 ($14.18) and 2024 ($16.59).
- Diluted Earnings Per Share
- Diluted EPS follows similar patterns as basic EPS, beginning at $2.18 in 2005 and rising to $16.56 in 2024. The progression closely mirrors the basic EPS with marginally lower values throughout, indicative of dilution effects but maintaining strong, positive growth trends.
- Dividend Per Share
- Dividends per share also steadily increased from $0.43 in 2005 to $19.36 in 2024. However, there are irregular spikes in certain years such as 2013, 2015, and 2021 where dividend values show abrupt and significant jumps (e.g., $8.17 in 2013 and $12.98 in 2021), which may indicate special dividends or adjustments in dividend policy. Aside from these anomalies, the trend reflects a general commitment to gradually raising the dividend payout.
Overall, the trends indicate improving profitability and an increasing return of value to shareholders through dividends. The steady rise in earnings per share aligns with the company's capacity to generate higher profits per outstanding share, while the dividend increases, albeit with some volatility, underline a progressive shareholder remuneration strategy.