Stock Analysis on Net
Stock Analysis on Net
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Costco Wholesale Corp. (NASDAQ:COST)

Enterprise Value (EV)

Intermediate level

Current Enterprise Value (EV)

Costco Wholesale Corp., current enterprise value calculation

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Current share price (P) $371.73
No. shares of common stock outstanding 442,533,785
US$ in millions
Common equity (market value)1 164,503 
Add: Preferred stock $.01 par value; no shares issued and outstanding (per books) — 
Add: Noncontrolling interests (per books) 421 
Total equity 164,924 
Add: Current portion of long-term debt (per books) 95 
Add: Long-term debt, excluding current portion (per books) 7,514 
Total equity and debt 172,533 
Less: Cash and cash equivalents 12,277 
Less: Short-term investments 1,028 
Enterprise value (EV) 159,228 

Based on: 10-K (filing date: 2020-10-07).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 371.73 × 442,533,785

Historical Enterprise Value (EV)

Costco Wholesale Corp., EV calculation

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Aug 30, 2020 Sep 1, 2019 Sep 2, 2018 Sep 3, 2017 Aug 28, 2016 Aug 30, 2015
Share price1, 2 $363.02 $297.60 $218.19 $157.55 $150.46 $149.84
No. shares of common stock outstanding1 441,228,027 439,656,950 438,208,376 436,989,606 437,126,569 437,406,636
US$ in millions
Common equity (market value)3 160,175  130,842  95,613  68,848  65,770  65,541 
Add: Preferred stock $.01 par value; no shares issued and outstanding (book value) —  —  —  —  —  — 
Add: Noncontrolling interests (book value) 421  341  304  301  253  226 
Total equity 160,596  131,183  95,917  69,149  66,023  65,767 
Add: Current portion of long-term debt (book value) 95  1,699  90  86  1,100  1,283 
Add: Long-term debt, excluding current portion (book value) 7,514  5,124  6,487  6,573  4,061  4,864 
Total equity and debt 168,205  138,006  102,494  75,808  71,184  71,914 
Less: Cash and cash equivalents 12,277  8,384  6,055  4,546  3,379  4,801 
Less: Short-term investments 1,028  1,060  1,204  1,233  1,350  1,618 
Enterprise value (EV) 154,900  128,562  95,235  70,029  66,455  65,495 

Based on: 10-K (filing date: 2020-10-07), 10-K (filing date: 2019-10-11), 10-K (filing date: 2018-10-26), 10-K (filing date: 2017-10-18), 10-K (filing date: 2016-10-12), 10-K (filing date: 2015-10-14).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Costco Wholesale Corp.’s Annual Report.

3 2020 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 363.02 × 441,228,027

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. Costco Wholesale Corp.’s EV increased from 2018 to 2019 and from 2019 to 2020.