At Costco, we always want to be the first to lower prices and the last to raise them.
— Ron Vachris
03Detailed Report
CTO.DE
Costco Wholesale Corporation
Period
Q2 2026
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 24, 2026
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Executive Summary
Costco reported continued top-line growth in Q2 FY2026 with broad-based comparable-sales improvement, membership income acceleration and positive margin trends despite ongoing tariff and commodity volatility. The company generated meaningful operating cash flow, invested heavily in growth initiatives (warehouses, depots, digital), and retains a net cash position. Key near-term risks include tariff developments, geopolitical pressure on fuel/shipping, and potential margin headwinds tied to promotions and reward costs. The business remains a high-quality, cash-generative retail model; investors should monitor comps, membership renewal/upgrade trends, gross-margin cadence and capital deployment execution.
Key Performance Indicators
Revenue
Increasing
69.60B
QoQ: 3.40% | YoY: 11.98%
Gross Profit
Increasing
8.88B
12.76% margin
QoQ: 0.92% | YoY: 10.40%
Operating Income
Increasing
2.61B
QoQ: 5.81% | YoY: 18.67%
Net Income
Increasing
2.04B
QoQ: 1.70% | YoY: 13.18%
EPS
Stable
4.58
QoQ: 1.55% | YoY: N/A
Revenue Trend
Margin Analysis
Financial Highlights
Reporting currency: USD. Selected Q2 FY2026 metrics (per company filing): Revenue: $69.60B; Gross profit: $8.88B (12.8% margin); Operating income: $2.61B (3.7% margin); EBITDA: $3.36B (4.8% margin); Net income: $2.04B (2.9% margin); Diluted EPS: $4.58. Membership fee income: $1.355B (+13.6% y/y). Comparable sales: +7.4% (6.7% ex gas & FX) — digitally-enabled comps +22.6%. Operating cash flow: $2.996B; Capital expenditures: $1.289B (Q2); Free cash flow: $1.707B. Cash & short-term investments: $18.24B; Total debt: $8.24B; Net cash: ~$9.15B. Total assets: $83.64B; Total equity: $32.09B. Selected ratios (derived): current ratio ≈ 1.06; net debt/ equity = negative (net cash ~$9.15B); debt/equity ≈ 0.26; ROA ≈ 2.4%; ROE ≈ 6.3%. Management FY26 planned CapEx ≈ $6.5B and expects 28 net new openings this fiscal year with a 30+ target in coming years.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
69.60B
11.98%
3.40%
Gross Profit
8.88B
10.40%
0.92%
Operating Income
2.61B
18.67%
5.81%
Net Income
2.04B
13.18%
1.70%
EPS
4.58
N/A
1.55%
Key Financial Ratios
Management Insights Available for Members
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