Companies /Consumer Defensive

Costco Wholesale Corp

NASDAQ: COST Discount Stores
$934.66
▼ $21.46 (−2.24%) today
Markets closed · 12:32am ET

Q4 2025 Earnings

Reported Sep 25, 2025, 4:16pm ET · SEC source
$5.87
Beat +1.11%
EPS · est. $5.81
$86.2B
Beat +0.12%
Revenue · est. $86.1B
−2.9%
Trailing market
COST vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−2%0Sep 25Sep 26report 4:16pm ETearnings+0.6%−3.2%
−2%0Sep 25Sep 26earnings+0.6%−3.2%
COST −3.2%S&P 500 +0.6%
−2%0Sep 25Sep 26report 4:16pm ETearnings+0.5%−3.3%
−2%0Sep 25Sep 26earnings+0.5%−3.3%
COST −3.3%NASDAQ +0.5%
−2%0+2%Sep 24Oct 3report 4:16pm ETearnings+1.7%−2.5%
−2%0+2%Sep 24Oct 3earnings+1.7%−2.5%
COST −2.5%S&P 500 +1.7%
−2%0+2%Sep 24Oct 3report 4:16pm ETearnings+1.6%−2.5%
−2%0+2%Sep 24Oct 3earnings+1.6%−2.5%
COST −2.5%NASDAQ +1.6%
−2.90%
Day of report
+0.10%
Next session
−0.06%
One week
+0.90%
30 days

S&P 500 over the same 30 days: +3.81%.

Did COST Beat Earnings? Q4 2025 Results

Costco Wholesale delivered a clean beat on both the top and bottom lines in its fiscal fourth quarter of 2025, with earnings of $5.87 per diluted share edging past the $5.82 consensus estimate and total revenue of $86.16 billion coming in ahead of the $85.92 billion Wall Street had expected — an 8.1% year-over-year gain that underscored the warehouse retailer's durable consumer appeal. The standout driver behind the quarter was membership momentum: membership income grew 14% year-over-year as paid memberships climbed 6.3% to 81 million, with the worldwide renewal rate holding firm at 89.8%. E-commerce comparable sales surged 13.6%, while in-store traffic rose 3.7%, reflecting broad-based engagement across channels. Despite the headline beat, shares softened post-earnings as investors weighed a modest deceleration in comparable sales growth — a dynamic <a href="https://247wallst.com/investing/2025/12/11/live-costco-cost-q1-earnings-coverage/">worth watching into Q1</a>. Looking ahead, management plans to expand its global warehouse count from 914 to roughly 944 locations in fiscal 2026, targeting approximately 30 net new openings across the U.S., Canada, and international markets.

Key Takeaways
  • Comparable sales growth of 5.7% (6.4% adjusted) driven by 3.7% traffic increase and 1.9% ticket growth
  • E-commerce comparable sales surged 13.6% with site traffic up 27%
  • Membership income grew 14.0% with renewal rates holding at 89.8% worldwide and 92.3% in U.S./Canada
  • Gross margin expanded 13 basis points to 11.13%, led by 30 bps core margin improvement
  • SG&A ratio improved 17 basis points to 9.21%
  • Executive memberships reached 38.7 million representing 74.2% penetration of sales
  • Excluding last year's non-recurring tax benefit, net income and EPS growth were both 14.0%

Forward Guidance & Outlook

Costco plans to expand its warehouse footprint to approximately 944 locations by the end of fiscal year 2026, with an estimated 30 net new warehouse openings across the U.S. (approximately 20), Canada (approximately 5), and Other International (approximately 5).

COST YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$30.0B$60.0B$90.0B$79.7B$86.2BRevenue$10.1B$11.1BGross Profit$3.0B$3.3BOperating Income$2.4B$2.6BNet Income
$0$30.0B$60.0B$90.0BRevenueGross ProfitOperating IncomeNet Income

COST Revenue by Segment

Net Sales$84.4B+8.0%
Membership Fees$1.7B+14.0%

Figures from SEC filings and company reports. Not investment advice.