Costco Wholesale
Costco Wholesale margins
Profitability and cash generation as a share of revenue.
Gross margin
%
Operating margin
%
Net margin
%
EBITDA margin
%
Operating cash flow margin
%
Free cash flow margin
%
Capex / revenue
%
SBC / revenue
%
Quarterly data
| Fiscal period | Ended | Gross margin% | Operating margin% | Net margin% | EBITDA margin% | Operating cash flow margin% | Free cash flow margin% | Capex / revenue% | SBC / revenue% |
|---|---|---|---|---|---|---|---|---|---|
| FY 2026 Q3 | May 10, 2026 | 12.77% | 3.99% | 3.11% | 4.84% | 4.89% | 2.89% | 2% | 0.17% |
| FY 2026 Q2 | Feb 15, 2026 | 12.76% | 3.74% | 2.92% | 4.6% | 4.3% | 2.45% | 1.85% | 0.24% |
| FY 2026 Q1 | Nov 23, 2025 | 13.07% | 3.66% | 2.97% | 4.55% | 6.97% | 4.7% | 2.27% | 0.72% |
| FY 2025 Q4 | Aug 31, 2025 | 12.91% | 3.88% | 3.03% | 4.78% | 4.49% | 2.21% | 2.28% | 0.16% |
| FY 2025 Q3 | May 11, 2025 | 12.99% | 4% | 3.01% | 4.88% | 5.47% | 3.68% | 1.79% | 0.17% |
| FY 2025 Q2 | Feb 16, 2025 | 12.52% | 3.63% | 2.81% | 4.5% | 4.31% | 2.53% | 1.78% | 0.24% |
| FY 2025 Q1 | Nov 24, 2024 | 12.94% | 3.53% | 2.89% | 4.42% | 5.25% | 3.21% | 2.03% | 0.74% |
| FY 2024 Q4 | Sep 1, 2024 | 12.68% | 3.82% | 2.95% | 4.7% | 3.71% | 1.73% | 1.98% | 0.17% |
| FY 2024 Q3 | May 12, 2024 | 12.55% | 3.75% | 2.87% | 4.64% | 5.13% | 3.31% | 1.81% | 0.18% |
| FY 2024 Q2 | Feb 18, 2024 | 12.49% | 3.53% | 2.98% | 4.41% | 1.25% | -0.51% | 1.76% | 0.23% |
| FY 2024 Q1 | Nov 26, 2023 | 12.7% | 3.43% | 2.75% | 4.3% | 8.05% | 6.25% | 1.8% | 0.77% |
| FY 2023 Q4 | Sep 3, 2023 | 12.31% | 3.52% | 2.74% | 4.39% | 4.72% | 2.75% | 1.97% | 0.17% |
| FY 2023 Q3 | May 7, 2023 | 12.07% | 3.13% | 2.43% | 4.01% | 2.87% | 1.34% | 1.53% | 0.18% |
| FY 2023 Q2 | Feb 12, 2023 | 12.38% | 3.44% | 2.65% | 4.29% | 5.78% | 4.17% | 1.61% | 0.27% |
| FY 2023 Q1 | Nov 20, 2022 | 12.25% | 3.22% | 2.51% | 4.04% | 4.79% | 2.85% | 1.94% | 0.74% |
| FY 2022 Q4 | Aug 28, 2022 | 11.84% | 3.46% | 2.59% | 4.29% | 3.48% | 1.73% | 1.75% | 0.16% |
| FY 2022 Q3 | May 8, 2022 | 11.87% | 3.41% | 2.57% | 4.24% | 2.33% | 0.71% | 1.62% | 0.17% |
| FY 2022 Q2 | Feb 13, 2022 | 12.31% | 3.49% | 2.5% | 4.33% | 0.77% | -0.62% | 1.39% | 0.25% |
| FY 2022 Q1 | Nov 21, 2021 | 12.73% | 3.36% | 2.63% | 4.22% | 6.47% | 4.37% | 2.09% | 0.77% |
| FY 2021 Q4 | Aug 29, 2021 | 12.67% | 3.63% | 2.66% | 4.52% | 4.69% | 2.95% | 1.75% | 0.18% |
| FY 2021 Q3 | May 9, 2021 | 12.95% | 3.67% | 2.69% | 4.56% | 7.36% | 5.09% | 2.27% | 0.19% |
| FY 2021 Q2 | Feb 14, 2021 | 12.71% | 2.99% | 2.12% | 3.92% | 0.08% | -1.2% | 1.28% | 0.27% |
| FY 2021 Q1 | Nov 22, 2020 | 13.31% | 3.31% | 2.7% | 4.24% | 6.13% | 4.06% | 2.07% | 0.79% |
| FY 2020 Q4 | Aug 30, 2020 | 13.08% | 3.61% | 2.6% | 4.56% | 7.95% | 6.35% | 1.6% | 0.21% |
| FY 2020 Q3 | May 10, 2020 | 13.46% | 3.16% | 2.25% | 4.19% | 5.09% | 3.22% | 1.87% | 0.24% |
| FY 2020 Q2 | Feb 16, 2020 | 12.84% | 3.24% | 2.38% | 4.24% | 1.58% | 0.19% | 1.39% | 0.3% |
| FY 2020 Q1 | Nov 24, 2019 | 12.98% | 2.86% | 2.28% | 3.86% | 5.67% | 3.74% | 1.93% | 0.81% |
| FY 2019 Q4 | Sep 1, 2019 | 10.82% | 3.08% | 2.31% | 4.08% | 4.83% | 2.7% | 2.12% | 0.24% |
| FY 2019 Q3 | May 12, 2019 | 10.74% | 3.23% | 2.61% | 4.2% | 6.06% | 4.12% | 1.93% | 0.27% |
| FY 2019 Q2 | Feb 17, 2019 | 11.04% | 3.4% | 2.51% | 4.39% | -0.62% | -2.28% | 1.66% | 0.34% |
| FY 2019 Q1 | Nov 25, 2018 | 10.52% | 2.71% | 2.19% | 3.65% | 6.21% | 4.13% | 2.08% | 0.77% |
| FY 2018 Q4 | Sep 2, 2018 | 12.92% | 3.26% | 2.35% | 4.23% | 3.5% | 1.12% | 2.38% | 0.25% |
| FY 2018 Q3 | May 13, 2018 | 11.05% | 3.37% | 2.37% | 4.41% | 6.66% | 4.81% | 1.85% | 0.27% |
| FY 2018 Q2 | Feb 18, 2018 | 10.99% | 3.15% | 2.17% | 4.21% | 0.34% | -1.24% | 1.57% | 0.35% |
| FY 2018 Q1 | Nov 26, 2017 | 11.25% | 3.06% | 2.06% | 4.13% | 6.45% | 3.81% | 2.64% | 0.75% |
| FY 2017 Q4 | Sep 3, 2017 | 11.27% | 3.51% | 2.22% | 4.57% | 4.43% | 2.55% | 1.88% | 0.27% |
| FY 2017 Q3 | May 7, 2017 | 11.5% | 3.43% | 2.48% | 4.56% | 5.69% | 3.78% | 1.91% | 0.29% |
| FY 2017 Q2 | Feb 12, 2017 | 11% | 2.9% | 1.77% | 3.97% | 1.69% | -0.08% | 1.77% | 0.38% |
| FY 2017 Q1 | Nov 20, 2016 | 11.58% | 3.09% | 1.98% | 4.17% | 10.17% | 7.74% | 2.43% | 0.77% |
| FY 2016 Q4 | Aug 28, 2016 | — | 3.33% | 2.18% | 4.48% | -0.47% | -2.85% | 2.38% | 0.27% |
| FY 2016 Q3 | May 8, 2016 | — | 3.28% | 2.08% | 4.39% | 7.11% | 5.35% | 1.76% | 0.29% |
| FY 2016 Q2 | Feb 14, 2016 | — | 3.11% | 1.98% | 4.14% | 2.87% | 0.61% | 2.26% | 0.37% |
| FY 2016 Q1 | Nov 22, 2015 | — | 2.88% | 1.8% | 3.9% | 3.05% | 0.36% | 2.69% | 0.7% |
| FY 2015 Q4 | Aug 30, 2015 | — | 3.3% | 2.19% | 4.31% | 2.94% | 0.64% | 2.3% | 0.27% |
| FY 2015 Q3 | May 10, 2015 | — | 3.22% | 2.02% | 4.24% | 4.82% | 3.17% | 1.65% | 0.25% |
| FY 2015 Q2 | Feb 15, 2015 | — | 3.26% | 2.23% | 4.23% | 3.35% | 1.07% | 2.28% | 0.32% |
| FY 2015 Q1 | Nov 23, 2014 | — | 2.93% | 1.89% | 3.9% | 4.29% | 2.18% | 2.11% | 0.57% |
| FY 2014 Q4 | Aug 31, 2014 | — | 3.14% | 2.01% | 4.06% | 2.42% | 0.79% | 1.63% | 0.22% |
| FY 2014 Q3 | May 11, 2014 | — | 2.92% | 1.87% | 3.86% | 5.9% | 4.3% | 1.61% | 0.26% |
| FY 2014 Q2 | Feb 16, 2014 | — | 2.81% | 1.8% | 3.74% | 2.77% | 1.03% | 1.74% | 0.28% |
| FY 2014 Q1 | Nov 24, 2013 | — | 2.73% | 1.74% | 3.67% | 3.84% | 1.49% | 2.35% | 0.46% |
| FY 2013 Q4 | Sep 1, 2013 | — | 3% | 1.94% | 3.93% | 1.77% | -0.44% | 2.22% | 0.24% |
| FY 2013 Q3 | May 12, 2013 | — | 3.07% | 1.95% | 4% | 5.73% | 3.88% | 1.85% | 0.22% |
| FY 2013 Q2 | Feb 17, 2013 | — | 3.03% | 2.25% | 3.92% | 1.74% | -0.13% | 1.87% | 0.27% |
| FY 2013 Q1 | Nov 25, 2012 | — | 2.75% | 1.79% | 3.67% | 4.75% | 2.65% | 2.1% | 0.4% |
| FY 2012 Q4 | Sep 2, 2012 | — | 3.01% | 1.93% | 3.94% | 2.32% | 0.48% | 1.84% | 0.2% |
| FY 2012 Q3 | May 6, 2012 | — | 2.85% | 1.77% | 3.78% | 4.96% | 3.73% | 1.23% | 0.21% |
| FY 2012 Q2 | Feb 12, 2012 | — | 2.86% | 1.75% | 3.79% | 2.58% | 1.29% | 1.28% | 0.26% |
| FY 2012 Q1 | Nov 20, 2011 | — | 2.56% | 1.51% | 3.53% | 3.13% | 1.52% | 1.62% | 0.36% |
| FY 2011 Q4 | Aug 28, 2011 | — | 2.76% | 1.73% | 3.75% | 3.41% | 1.7% | 1.71% | 0.2% |
| FY 2011 Q3 | May 8, 2011 | — | 2.75% | 1.6% | 3.72% | 4.02% | 2.64% | 1.38% | 0.21% |
| FY 2011 Q2 | Feb 13, 2011 | — | 2.91% | 1.7% | 3.87% | 3.55% | 2.41% | 1.14% | 0.25% |
| FY 2011 Q1 | Nov 21, 2010 | — | 2.79% | 1.66% | 3.8% | 3.83% | 2.2% | 1.63% | 0.3% |
| FY 2010 Q4 | Aug 29, 2010 | — | 2.92% | 1.83% | 3.96% | 2.59% | 0.85% | 1.74% | 0.22% |
| FY 2010 Q3 | May 9, 2010 | — | 2.82% | 1.76% | — | — | — | — | — |
| FY 2010 Q2 | Feb 14, 2010 | — | 2.56% | 1.63% | 3.57% | 3.32% | 2.27% | 1.05% | 0.26% |
| FY 2010 Q1 | Nov 22, 2009 | — | 2.53% | 1.57% | 3.62% | 4.44% | 2.59% | 1.85% | 0.31% |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
FCF subtracts reported cash capital investment. PPE purchases are preferred; the productive-assets fallback also includes software and intangibles. Acquisitions and noncash lease additions are excluded. EPS and weighted shares are not summed across quarters. Annual figures use annual reports.
The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.
Market prices: Yahoo Finance · COST, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- Gross margin
- Gross profit / revenue × 100. Uses revenue − reported cost of revenue when gross profit is absent.
- Operating margin
- Operating income / revenue × 100. Uses reported operating income, or reported pretax income less the complete nonoperating income/expense total when both are available.
- Net margin
- Reported net income / revenue × 100.
- EBITDA margin
- (Operating income + reported depreciation and amortization) / revenue × 100. An EBITDA proxy, not adjusted EBITDA.
- Operating cash flow margin
- Operating cash flow / revenue × 100.
- Free cash flow margin
- Free cash flow / revenue × 100. Reflects the selected reported capex scope and the SBC option.
- Capex / revenue
- Reported cash capital investment / revenue × 100. Uses PPE purchases or, when those are not separately tagged, the broader productive-assets total.
- SBC / revenue
- Reported share-based compensation / revenue × 100.