Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Costco Wholesale Corp. (NASDAQ:COST)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Beginner level

Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).

Historical Valuation Ratios (Summary)

Costco Wholesale Corp., historical price multiples (quarterly data)

Microsoft Excel LibreOffice Calc
May 10, 2020 Feb 16, 2020 Nov 24, 2019 Sep 1, 2019 May 12, 2019 Feb 17, 2019 Nov 25, 2018 Sep 2, 2018 May 13, 2018 Feb 18, 2018 Nov 26, 2017 Sep 3, 2017 May 7, 2017 Feb 12, 2017 Nov 20, 2016 Aug 28, 2016 May 8, 2016 Feb 14, 2016 Nov 22, 2015 Aug 30, 2015 May 10, 2015 Feb 15, 2015 Nov 23, 2014 Aug 31, 2014 May 11, 2014 Feb 16, 2014 Nov 24, 2013
Price to earnings (P/E) 36.98 32.71 34.68 35.76 30.65 30.15 26.63 30.51 29.51 27.50 29.57 25.70 31.20 30.52 29.18 27.99 28.58 29.10 29.37 27.57 26.79 28.64 29.29 26.44 — — —
Price to operating profit (P/OP) 27.61 25.16 26.72 27.62 23.41 22.29 19.39 21.34 19.81 18.56 19.47 16.75 20.57 19.45 18.77 17.91 18.37 18.67 19.15 18.09 17.37 18.66 18.77 16.90 — — —
Price to sales (P/S) 0.87 0.80 0.86 0.88 0.76 0.72 0.61 0.69 0.65 0.61 0.63 0.55 0.66 0.61 0.60 0.57 0.58 0.59 0.61 0.58 0.54 0.57 0.56 0.49 — — —
Price to book value (P/BV) 8.17 7.44 8.17 8.58 7.63 7.50 6.59 7.47 7.32 6.93 7.40 6.39 8.00 5.85 5.88 5.44 5.81 6.11 6.39 6.17 5.84 6.35 5.05 4.42 4.37 4.33 4.64

Based on: 10-Q (filing date: 2020-06-04), 10-Q (filing date: 2020-03-12), 10-Q (filing date: 2019-12-23), 10-K (filing date: 2019-10-11), 10-Q (filing date: 2019-06-06), 10-Q (filing date: 2019-03-13), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-26), 10-Q (filing date: 2018-06-07), 10-Q (filing date: 2018-03-15), 10-Q (filing date: 2017-12-21), 10-K (filing date: 2017-10-18), 10-Q (filing date: 2017-06-01), 10-Q (filing date: 2017-03-09), 10-Q (filing date: 2016-12-16), 10-K (filing date: 2016-10-12), 10-Q (filing date: 2016-06-01), 10-Q (filing date: 2016-03-09), 10-Q (filing date: 2015-12-18), 10-K (filing date: 2015-10-14), 10-Q (filing date: 2015-06-04), 10-Q (filing date: 2015-03-11), 10-Q (filing date: 2014-12-18), 10-K (filing date: 2014-10-15), 10-Q (filing date: 2014-06-05), 10-Q (filing date: 2014-03-14), 10-Q (filing date: 2013-12-20).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Costco Wholesale Corp.’s P/E ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Costco Wholesale Corp.’s P/OP ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Costco Wholesale Corp.’s P/S ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Costco Wholesale Corp.’s P/BV ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 not reaching Q1 2020 level.

Price to Earnings (P/E)

Costco Wholesale Corp., historical P/E calculation (quarterly data)

Microsoft Excel LibreOffice Calc
May 10, 2020 Feb 16, 2020 Nov 24, 2019 Sep 1, 2019 May 12, 2019 Feb 17, 2019 Nov 25, 2018 Sep 2, 2018 May 13, 2018 Feb 18, 2018 Nov 26, 2017 Sep 3, 2017 May 7, 2017 Feb 12, 2017 Nov 20, 2016 Aug 28, 2016 May 8, 2016 Feb 14, 2016 Nov 22, 2015 Aug 30, 2015 May 10, 2015 Feb 15, 2015 Nov 23, 2014 Aug 31, 2014 May 11, 2014 Feb 16, 2014 Nov 24, 2013
No. shares of common stock outstanding1 441,523,711 441,579,952 441,757,627 439,656,950 439,789,186 439,880,257 440,490,478 438,208,376 438,541,544 438,820,272 439,105,871 436,989,606 438,593,340 438,941,216 439,240,344 437,126,569 438,065,563 439,035,055 439,777,272 437,406,636 439,487,656 439,974,264 440,504,400 437,762,068 438,295,696 439,877,548 439,722,405
Selected Financial Data (US$)
Net income attributable to Costco (in millions) 838  931  844  1,097  906  889  767  1,043  750  701  640  919  700  515  545  779  545  546  480  767  516  598  496  697  473  463  425 
Earnings per share (EPS)2 8.40 8.56 8.46 8.32 8.20 7.84 7.40 7.15 6.86 6.75 6.32 6.13 5.79 5.43 5.50 5.38 5.34 5.26 5.37 5.43 5.25 5.15 4.83 4.70 0.00 0.00 0.00
Share price1, 3 310.75 279.85 293.31 297.60 251.21 236.38 197.13 218.19 202.57 185.51 186.80 157.55 180.63 165.77 160.41 150.46 152.52 153.05 157.70 149.84 140.65 147.40 141.56 124.30 117.75 113.45 118.53
Valuation Ratio
P/E ratio4 36.98 32.71 34.68 35.76 30.65 30.15 26.63 30.51 29.51 27.50 29.57 25.70 31.20 30.52 29.18 27.99 28.58 29.10 29.37 27.57 26.79 28.64 29.29 26.44 — — —
Benchmarks
P/E Ratio, Competitors5
Amazon.com Inc. — 120.27 107.96 86.29 76.96 79.46 80.00 79.30 90.24 141.25 193.77 228.24 275.45 254.95 171.23 166.53 175.32 186.29 266.91 463.73 — — — — — — —
Dollar General Corp. 23.78 24.63 20.38 19.18 15.05 16.15 14.41 15.73 20.43 16.20 17.35 15.28 16.73 17.30 20.69 20.63 17.32 19.41 20.32 21.58 — — — — — — —
Home Depot Inc. 21.68 21.33 18.61 18.87 18.09 23.25 23.90 23.51 23.49 21.04 22.66 22.37 20.76 22.62 22.94 23.32 24.49 21.18 22.26 23.15 — — — — — — —
Lowe’s Cos. Inc. 30.02 33.94 30.97 37.80 19.79 22.59 20.76 20.26 20.14 20.58 23.64 22.62 25.20 24.06 25.75 26.67 23.39 22.12 23.82 26.24 — — — — — — —
Target Corp. 19.66 17.35 13.68 13.56 11.50 14.71 12.87 12.97 11.87 11.12 10.98 11.11 13.17 12.54 12.15 14.61 — — — — — — — — — — —
TJX Cos. Inc. 22.88 21.70 20.04 21.11 18.79 22.95 20.28 20.19 19.07 19.68 20.89 22.11 22.33 22.23 21.93 22.87 20.97 21.04 19.60 21.62 — — — — — — —
Walmart Inc. 23.34 25.40 36.14 41.79 55.00 54.35 28.14 26.62 25.20 18.32 17.64 16.02 15.02 15.00 15.30 14.72 12.38 13.48 14.60 15.91 — — — — — — —

Based on: 10-Q (filing date: 2020-06-04), 10-Q (filing date: 2020-03-12), 10-Q (filing date: 2019-12-23), 10-K (filing date: 2019-10-11), 10-Q (filing date: 2019-06-06), 10-Q (filing date: 2019-03-13), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-26), 10-Q (filing date: 2018-06-07), 10-Q (filing date: 2018-03-15), 10-Q (filing date: 2017-12-21), 10-K (filing date: 2017-10-18), 10-Q (filing date: 2017-06-01), 10-Q (filing date: 2017-03-09), 10-Q (filing date: 2016-12-16), 10-K (filing date: 2016-10-12), 10-Q (filing date: 2016-06-01), 10-Q (filing date: 2016-03-09), 10-Q (filing date: 2015-12-18), 10-K (filing date: 2015-10-14), 10-Q (filing date: 2015-06-04), 10-Q (filing date: 2015-03-11), 10-Q (filing date: 2014-12-18), 10-K (filing date: 2014-10-15), 10-Q (filing date: 2014-06-05), 10-Q (filing date: 2014-03-14), 10-Q (filing date: 2013-12-20).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
EPS = (Net income attributable to CostcoQ3 2020 + Net income attributable to CostcoQ2 2020 + Net income attributable to CostcoQ1 2020 + Net income attributable to CostcoQ4 2019) ÷ No. shares of common stock outstanding
= (838,000,000 + 931,000,000 + 844,000,000 + 1,097,000,000) ÷ 441,523,711 = 8.40

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

4 Q3 2020 Calculation
P/E ratio = Share price ÷ EPS
= 310.75 ÷ 8.40 = 36.98

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Costco Wholesale Corp.’s P/E ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Price to Operating Profit (P/OP)

Costco Wholesale Corp., historical P/OP calculation (quarterly data)

Microsoft Excel LibreOffice Calc
May 10, 2020 Feb 16, 2020 Nov 24, 2019 Sep 1, 2019 May 12, 2019 Feb 17, 2019 Nov 25, 2018 Sep 2, 2018 May 13, 2018 Feb 18, 2018 Nov 26, 2017 Sep 3, 2017 May 7, 2017 Feb 12, 2017 Nov 20, 2016 Aug 28, 2016 May 8, 2016 Feb 14, 2016 Nov 22, 2015 Aug 30, 2015 May 10, 2015 Feb 15, 2015 Nov 23, 2014 Aug 31, 2014 May 11, 2014 Feb 16, 2014 Nov 24, 2013
No. shares of common stock outstanding1 441,523,711 441,579,952 441,757,627 439,656,950 439,789,186 439,880,257 440,490,478 438,208,376 438,541,544 438,820,272 439,105,871 436,989,606 438,593,340 438,941,216 439,240,344 437,126,569 438,065,563 439,035,055 439,777,272 437,406,636 439,487,656 439,974,264 440,504,400 437,762,068 438,295,696 439,877,548 439,722,405
Selected Financial Data (US$)
Operating income (in millions) 1,179  1,266  1,061  1,463  1,122  1,203  949  1,446  1,067  1,016  951  1,450  968  844  849  1,191  858  856  767  1,156  821  877  770  1,091  737  724  668 
Operating profit per share2 11.25 11.12 10.98 10.77 10.73 10.61 10.17 10.22 10.22 9.99 9.59 9.41 8.78 8.53 8.55 8.40 8.30 8.20 8.23 8.29 8.10 7.90 7.54 7.36 0.00 0.00 0.00
Share price1, 3 310.75 279.85 293.31 297.60 251.21 236.38 197.13 218.19 202.57 185.51 186.80 157.55 180.63 165.77 160.41 150.46 152.52 153.05 157.70 149.84 140.65 147.40 141.56 124.30 117.75 113.45 118.53
Valuation Ratio
P/OP ratio4 27.61 25.16 26.72 27.62 23.41 22.29 19.39 21.34 19.81 18.56 19.47 16.75 20.57 19.45 18.77 17.91 18.37 18.67 19.15 18.09 17.37 18.66 18.77 16.90 — — —
Benchmarks
P/OP Ratio, Competitors5
Amazon.com Inc. — 93.97 80.81 68.77 60.44 64.01 64.39 64.31 74.65 120.05 151.77 168.59 163.99 141.50 107.31 94.32 91.33 92.95 102.07 123.77 — — — — — — —
Dollar General Corp. 17.79 18.49 15.34 14.41 13.02 13.51 11.56 12.05 12.28 9.72 10.43 9.26 10.17 10.51 12.53 12.39 10.46 11.74 12.26 13.00 — — — — — — —
Home Depot Inc. 15.22 15.18 13.28 13.51 12.45 15.12 14.65 13.82 14.00 12.57 13.51 13.26 12.23 13.24 13.54 13.88 14.84 12.97 13.50 14.03 — — — — — — —
Lowe’s Cos. Inc. 18.48 20.49 18.51 21.77 12.85 14.16 12.26 10.61 10.60 10.25 11.42 11.97 12.26 12.46 13.33 13.66 13.05 12.26 13.20 14.77 — — — — — — —
Target Corp. 13.94 12.44 9.80 9.69 8.99 10.87 9.16 8.83 6.98 6.57 6.33 6.12 7.61 7.36 7.18 8.88 9.11 9.34 10.95 11.20 — — — — — — —
TJX Cos. Inc. 16.79 15.73 14.53 15.31 13.99 16.65 14.11 13.54 11.86 11.90 12.60 13.20 13.36 13.63 13.47 14.06 12.92 12.95 12.02 13.28 — — — — — — —
Walmart Inc. 15.80 15.12 13.92 12.69 13.94 14.03 12.38 12.85 13.01 10.35 10.56 9.60 9.36 9.29 9.32 8.97 7.35 8.04 8.83 9.59 — — — — — — —

Based on: 10-Q (filing date: 2020-06-04), 10-Q (filing date: 2020-03-12), 10-Q (filing date: 2019-12-23), 10-K (filing date: 2019-10-11), 10-Q (filing date: 2019-06-06), 10-Q (filing date: 2019-03-13), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-26), 10-Q (filing date: 2018-06-07), 10-Q (filing date: 2018-03-15), 10-Q (filing date: 2017-12-21), 10-K (filing date: 2017-10-18), 10-Q (filing date: 2017-06-01), 10-Q (filing date: 2017-03-09), 10-Q (filing date: 2016-12-16), 10-K (filing date: 2016-10-12), 10-Q (filing date: 2016-06-01), 10-Q (filing date: 2016-03-09), 10-Q (filing date: 2015-12-18), 10-K (filing date: 2015-10-14), 10-Q (filing date: 2015-06-04), 10-Q (filing date: 2015-03-11), 10-Q (filing date: 2014-12-18), 10-K (filing date: 2014-10-15), 10-Q (filing date: 2014-06-05), 10-Q (filing date: 2014-03-14), 10-Q (filing date: 2013-12-20).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
Operating profit per share = (Operating incomeQ3 2020 + Operating incomeQ2 2020 + Operating incomeQ1 2020 + Operating incomeQ4 2019) ÷ No. shares of common stock outstanding
= (1,179,000,000 + 1,266,000,000 + 1,061,000,000 + 1,463,000,000) ÷ 441,523,711 = 11.25

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

4 Q3 2020 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 310.75 ÷ 11.25 = 27.61

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Costco Wholesale Corp.’s P/OP ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Price to Sales (P/S)

Costco Wholesale Corp., historical P/S calculation (quarterly data)

Microsoft Excel LibreOffice Calc
May 10, 2020 Feb 16, 2020 Nov 24, 2019 Sep 1, 2019 May 12, 2019 Feb 17, 2019 Nov 25, 2018 Sep 2, 2018 May 13, 2018 Feb 18, 2018 Nov 26, 2017 Sep 3, 2017 May 7, 2017 Feb 12, 2017 Nov 20, 2016 Aug 28, 2016 May 8, 2016 Feb 14, 2016 Nov 22, 2015 Aug 30, 2015 May 10, 2015 Feb 15, 2015 Nov 23, 2014 Aug 31, 2014 May 11, 2014 Feb 16, 2014 Nov 24, 2013
No. shares of common stock outstanding1 441,523,711 441,579,952 441,757,627 439,656,950 439,789,186 439,880,257 440,490,478 438,208,376 438,541,544 438,820,272 439,105,871 436,989,606 438,593,340 438,941,216 439,240,344 437,126,569 438,065,563 439,035,055 439,777,272 437,406,636 439,487,656 439,974,264 440,504,400 437,762,068 438,295,696 439,877,548 439,722,405
Selected Financial Data (US$)
Net sales (in millions) 36,451  38,256  36,236  46,448  33,964  34,628  34,311  43,414  31,624  32,279  31,117  41,357  28,216  29,130  27,469  35,728  26,151  27,567  26,627  34,993  25,517  26,872  26,284  34,755  25,233  25,756  24,468 
Sales per share2 356.47 350.79 342.44 339.70 332.70 327.31 321.52 315.91 310.98 303.01 295.65 288.73 274.84 269.92 266.18 265.54 263.29 261.26 259.24 259.86 258.09 257.16 254.32 251.76 0.00 0.00 0.00
Share price1, 3 310.75 279.85 293.31 297.60 251.21 236.38 197.13 218.19 202.57 185.51 186.80 157.55 180.63 165.77 160.41 150.46 152.52 153.05 157.70 149.84 140.65 147.40 141.56 124.30 117.75 113.45 118.53
Valuation Ratio
P/S ratio4 0.87 0.80 0.86 0.88 0.76 0.72 0.61 0.69 0.65 0.61 0.63 0.55 0.66 0.61 0.60 0.57 0.58 0.59 0.61 0.58 0.54 0.57 0.56 0.49 — — —
Benchmarks
P/S Ratio, Competitors5
Amazon.com Inc. — 4.93 3.85 3.56 3.29 3.81 3.98 3.43 3.64 4.26 3.95 3.89 3.29 3.26 3.10 2.90 2.88 2.98 2.74 2.58 — — — — — — —
Dollar General Corp. 1.45 1.50 1.26 1.19 1.09 1.14 0.98 1.03 1.09 0.87 0.96 0.87 0.95 1.01 1.21 1.18 0.99 1.11 1.15 1.22 — — — — — — —
Home Depot Inc. 2.17 2.17 1.91 1.94 1.81 2.20 2.11 2.01 2.03 1.82 1.93 1.88 1.71 1.83 1.84 1.85 1.95 1.67 1.73 1.77 — — — — — — —
Lowe’s Cos. Inc. 1.23 1.20 1.02 1.23 1.03 1.26 1.15 1.02 1.04 0.93 1.00 1.08 0.98 1.10 1.18 1.15 1.20 1.09 1.15 1.26 — — — — — — —
Target Corp. 0.83 0.72 0.55 0.53 0.50 0.62 0.53 0.53 0.45 0.44 0.44 0.44 0.63 0.58 0.56 0.67 0.61 0.63 0.70 0.70 — — — — — — —
TJX Cos. Inc. 1.76 1.66 1.54 1.66 1.50 1.81 1.54 1.47 1.34 1.35 1.45 1.53 1.56 1.61 1.60 1.68 1.56 1.60 1.49 1.65 — — — — — — —
Walmart Inc. 0.65 0.63 0.59 0.55 0.56 0.56 0.50 0.53 0.59 0.48 0.50 0.45 0.45 0.46 0.46 0.45 0.39 0.43 0.49 0.54 — — — — — — —

Based on: 10-Q (filing date: 2020-06-04), 10-Q (filing date: 2020-03-12), 10-Q (filing date: 2019-12-23), 10-K (filing date: 2019-10-11), 10-Q (filing date: 2019-06-06), 10-Q (filing date: 2019-03-13), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-26), 10-Q (filing date: 2018-06-07), 10-Q (filing date: 2018-03-15), 10-Q (filing date: 2017-12-21), 10-K (filing date: 2017-10-18), 10-Q (filing date: 2017-06-01), 10-Q (filing date: 2017-03-09), 10-Q (filing date: 2016-12-16), 10-K (filing date: 2016-10-12), 10-Q (filing date: 2016-06-01), 10-Q (filing date: 2016-03-09), 10-Q (filing date: 2015-12-18), 10-K (filing date: 2015-10-14), 10-Q (filing date: 2015-06-04), 10-Q (filing date: 2015-03-11), 10-Q (filing date: 2014-12-18), 10-K (filing date: 2014-10-15), 10-Q (filing date: 2014-06-05), 10-Q (filing date: 2014-03-14), 10-Q (filing date: 2013-12-20).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
Sales per share = (Net salesQ3 2020 + Net salesQ2 2020 + Net salesQ1 2020 + Net salesQ4 2019) ÷ No. shares of common stock outstanding
= (36,451,000,000 + 38,256,000,000 + 36,236,000,000 + 46,448,000,000) ÷ 441,523,711 = 356.47

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

4 Q3 2020 Calculation
P/S ratio = Share price ÷ Sales per share
= 310.75 ÷ 356.47 = 0.87

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Costco Wholesale Corp.’s P/S ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Price to Book Value (P/BV)

Costco Wholesale Corp., historical P/BV calculation (quarterly data)

Microsoft Excel LibreOffice Calc
May 10, 2020 Feb 16, 2020 Nov 24, 2019 Sep 1, 2019 May 12, 2019 Feb 17, 2019 Nov 25, 2018 Sep 2, 2018 May 13, 2018 Feb 18, 2018 Nov 26, 2017 Sep 3, 2017 May 7, 2017 Feb 12, 2017 Nov 20, 2016 Aug 28, 2016 May 8, 2016 Feb 14, 2016 Nov 22, 2015 Aug 30, 2015 May 10, 2015 Feb 15, 2015 Nov 23, 2014 Aug 31, 2014 May 11, 2014 Feb 16, 2014 Nov 24, 2013
No. shares of common stock outstanding1 441,523,711 441,579,952 441,757,627 439,656,950 439,789,186 439,880,257 440,490,478 438,208,376 438,541,544 438,820,272 439,105,871 436,989,606 438,593,340 438,941,216 439,240,344 437,126,569 438,065,563 439,035,055 439,777,272 437,406,636 439,487,656 439,974,264 440,504,400 437,762,068 438,295,696 439,877,548 439,722,405
Selected Financial Data (US$)
Total Costco stockholders’ equity (in millions) 16,802  16,614  15,861  15,243  14,486  13,858  13,167  12,799  12,143  11,754  11,078  10,778  9,898  12,440  11,973  12,079  11,505  11,000  10,848  10,617  10,587  10,206  12,359  12,303  11,819  11,515  11,221 
Book value per share (BVPS)2 38.05 37.62 35.90 34.67 32.94 31.50 29.89 29.21 27.69 26.79 25.23 24.66 22.57 28.34 27.26 27.63 26.26 25.05 24.67 24.27 24.09 23.20 28.06 28.10 26.97 26.18 25.52
Share price1, 3 310.75 279.85 293.31 297.60 251.21 236.38 197.13 218.19 202.57 185.51 186.80 157.55 180.63 165.77 160.41 150.46 152.52 153.05 157.70 149.84 140.65 147.40 141.56 124.30 117.75 113.45 118.53
Valuation Ratio
P/BV ratio4 8.17 7.44 8.17 8.58 7.63 7.50 6.59 7.47 7.32 6.93 7.40 6.39 8.00 5.85 5.88 5.44 5.81 6.11 6.39 6.17 5.84 6.35 5.05 4.42 4.37 4.33 4.64
Benchmarks
P/BV Ratio, Competitors5
Amazon.com Inc. — 21.50 17.47 16.11 15.45 18.11 19.84 18.34 20.53 25.33 24.25 24.98 21.52 21.11 20.40 20.47 20.74 21.75 21.09 20.65 22.59 21.04 19.06 — — — —
Dollar General Corp. 5.94 5.95 4.99 4.75 4.31 4.40 3.75 3.95 4.41 3.49 3.88 3.54 3.79 3.94 4.64 4.47 3.71 4.04 4.14 4.03 3.85 3.82 3.54 — — — —
Home Depot Inc. — — — — 144.66 114.03 127.78 139.52 79.38 49.72 46.72 41.08 28.38 25.28 26.19 25.88 22.23 16.50 15.83 15.76 12.65 10.79 8.97 — — — —
Lowe’s Cos. Inc. 36.00 32.50 22.70 24.01 13.54 15.37 13.85 11.89 12.47 11.38 12.01 10.87 9.32 9.74 9.85 8.87 8.33 7.22 6.90 7.10 5.80 4.62 4.10 — — — —
Target Corp. 5.53 4.62 3.71 3.52 3.36 4.08 3.43 3.25 2.82 2.78 2.78 2.78 3.98 3.56 3.25 3.79 3.40 3.33 3.61 3.63 2.81 2.34 2.15 — — — —
TJX Cos. Inc. 12.92 12.53 11.88 12.79 11.07 13.06 10.74 10.23 9.89 10.04 10.67 11.27 11.79 11.61 11.18 12.09 10.89 11.15 10.21 11.23 10.28 9.66 8.90 — — — —
Walmart Inc. 4.70 4.64 4.44 3.84 3.94 3.97 3.34 3.37 3.79 3.05 3.26 2.81 2.80 2.89 2.94 2.69 2.35 2.65 3.07 3.20 3.51 3.21 3.41 — — — —

Based on: 10-Q (filing date: 2020-06-04), 10-Q (filing date: 2020-03-12), 10-Q (filing date: 2019-12-23), 10-K (filing date: 2019-10-11), 10-Q (filing date: 2019-06-06), 10-Q (filing date: 2019-03-13), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-26), 10-Q (filing date: 2018-06-07), 10-Q (filing date: 2018-03-15), 10-Q (filing date: 2017-12-21), 10-K (filing date: 2017-10-18), 10-Q (filing date: 2017-06-01), 10-Q (filing date: 2017-03-09), 10-Q (filing date: 2016-12-16), 10-K (filing date: 2016-10-12), 10-Q (filing date: 2016-06-01), 10-Q (filing date: 2016-03-09), 10-Q (filing date: 2015-12-18), 10-K (filing date: 2015-10-14), 10-Q (filing date: 2015-06-04), 10-Q (filing date: 2015-03-11), 10-Q (filing date: 2014-12-18), 10-K (filing date: 2014-10-15), 10-Q (filing date: 2014-06-05), 10-Q (filing date: 2014-03-14), 10-Q (filing date: 2013-12-20).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
BVPS = Total Costco stockholders’ equity ÷ No. shares of common stock outstanding
= 16,802,000,000 ÷ 441,523,711 = 38.05

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

4 Q3 2020 Calculation
P/BV ratio = Share price ÷ BVPS
= 310.75 ÷ 38.05 = 8.17

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Costco Wholesale Corp.’s P/BV ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 not reaching Q1 2020 level.