Costco Wholesale
Costco Wholesale returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q3 | May 10, 2026 | — | 27.31% | — | 29.15% | 10.92% | — |
| FY 2026 Q2 | Feb 15, 2026 | — | 27.66% | — | 29.65% | 10.9% | — |
| FY 2026 Q1 | Nov 23, 2025 | — | 28% | — | 30.32% | 10.63% | — |
| FY 2025 Q4 | Aug 31, 2025 | 38.48% | 27.93% | 63.71% | 30.69% | 11.02% | 30.8 pp |
| FY 2025 Q3 | May 11, 2025 | — | 28.63% | — | 32.08% | 10.94% | — |
| FY 2025 Q2 | Feb 16, 2025 | — | 28.74% | — | 32.89% | 10.92% | — |
| FY 2025 Q1 | Nov 24, 2024 | — | 26.36% | — | 29.95% | 10.3% | — |
| FY 2024 Q4 | Sep 1, 2024 | 37.53% | 26.61% | 56.06% | 30.27% | 10.61% | 29.8 pp |
| FY 2024 Q3 | May 12, 2024 | 37.65% | 26.7% | 127.91% | 31.64% | 10.65% | 29.9 pp |
| FY 2024 Q2 | Feb 18, 2024 | 36.36% | 25.79% | 18.29% | 31.2% | 10.2% | 28.7 pp |
| FY 2024 Q1 | Nov 26, 2023 | 37.09% | 23.88% | — | 27.37% | 9.33% | 29.4 pp |
| FY 2023 Q4 | Sep 3, 2023 | 34.55% | 24.01% | 16.68% | 27.54% | 9.45% | 26.9 pp |
| FY 2023 Q3 | May 7, 2023 | 34.96% | 23.36% | 9.27% | 27.56% | 9.19% | 27.3 pp |
| FY 2023 Q2 | Feb 12, 2023 | 38.2% | 24.12% | 23.09% | 28.67% | 9.31% | 30.5 pp |
| FY 2023 Q1 | Nov 20, 2022 | 38.13% | 24.62% | 18.34% | 29.47% | 9.04% | 30.4 pp |
| FY 2022 Q4 | Aug 28, 2022 | 37.55% | 25.14% | 28.97% | 30.59% | 9.47% | 29.9 pp |
| FY 2022 Q3 | May 8, 2022 | 37.69% | 24.7% | 52.86% | 30.98% | 9.32% | 30 pp |
| FY 2022 Q2 | Feb 13, 2022 | 37.4% | 24.86% | — | 31.44% | 9.34% | 29.7 pp |
| FY 2022 Q1 | Nov 21, 2021 | 45.57% | 23.89% | 18.6% | 31% | 8.31% | 37.9 pp |
| FY 2021 Q4 | Aug 29, 2021 | 35.98% | 22.16% | 361.26% | 27.93% | 8.72% | 28.3 pp |
| FY 2021 Q3 | May 9, 2021 | 32.67% | 21.85% | — | 28.4% | 8.67% | 25 pp |
| FY 2021 Q2 | Feb 14, 2021 | 30.01% | 21.59% | 232.36% | 26.93% | 8.38% | 22.3 pp |
| FY 2021 Q1 | Nov 22, 2020 | 38.05% | 22.02% | — | 28.15% | 7.75% | 30.3 pp |
| FY 2020 Q4 | Aug 30, 2020 | 29.3% | 20.56% | 3,058.52% | 23.87% | 7.93% | 21.6 pp |
| FY 2020 Q3 | May 10, 2020 | 25.18% | 19.93% | 8.89% | 23.72% | 7.77% | 17.5 pp |
| FY 2020 Q2 | Feb 16, 2020 | 25.84% | 21.16% | 143.02% | 24.8% | 8.25% | 18.1 pp |
| FY 2020 Q1 | Nov 24, 2019 | 27.61% | 20.85% | 51.07% | 25.74% | 7.85% | 19.9 pp |
| FY 2019 Q4 | Sep 1, 2019 | 26.64% | 22% | 119.61% | 26.1% | 8.49% | 18.9 pp |
| FY 2019 Q3 | May 12, 2019 | 26.53% | 22.96% | 47.82% | 27.08% | 8.65% | 18.8 pp |
| FY 2019 Q2 | Feb 17, 2019 | 24.49% | 23.24% | 62.1% | 26.93% | 8.46% | 16.8 pp |
| FY 2019 Q1 | Nov 25, 2018 | 26.2% | 22.19% | 50.58% | 26.9% | 7.84% | 18.5 pp |
| FY 2018 Q4 | Sep 2, 2018 | 23.91% | 22.54% | 102.5% | 26.59% | 8.12% | 16.2 pp |
| FY 2018 Q3 | May 13, 2018 | 27.25% | 26.05% | 14.25% | 27.31% | 8% | 19.6 pp |
| FY 2018 Q2 | Feb 18, 2018 | 22.7% | 23.99% | 69.9% | 24.47% | 7.96% | 15 pp |
| FY 2018 Q1 | Nov 26, 2017 | 23.14% | 23.16% | — | 24.07% | 7.31% | 15.4 pp |
| FY 2017 Q4 | Sep 3, 2017 | 20.23% | 22.56% | — | 23.44% | 7.71% | 12.5 pp |
| FY 2017 Q3 | May 7, 2017 | 24.08% | 24.76% | — | 23.73% | 7.31% | 16.4 pp |
| FY 2017 Q2 | Feb 12, 2017 | 19.18% | 22.19% | 19.4% | 20.34% | 7.01% | 11.5 pp |
| FY 2017 Q1 | Nov 20, 2016 | 20.09% | 21.74% | 17.49% | 21.16% | 6.71% | 12.4 pp |
| FY 2016 Q4 | Aug 28, 2016 | 18.33% | 21.29% | -0.6% | 20.71% | 7.06% | 10.6 pp |
| FY 2016 Q3 | May 8, 2016 | 20.18% | 21.63% | 22.3% | 21.17% | 6.94% | 12.5 pp |
| FY 2016 Q2 | Feb 14, 2016 | 21.35% | 22.29% | 2.01% | 21.78% | 7% | 13.7 pp |
| FY 2016 Q1 | Nov 22, 2015 | — | 20.26% | — | 20.35% | 6.74% | — |
| FY 2015 Q4 | Aug 30, 2015 | 20.14% | 20.41% | 100.11% | 20.74% | 7.15% | 12.4 pp |
| FY 2015 Q3 | May 10, 2015 | — | 20.47% | — | 20.59% | 6.97% | — |
| FY 2015 Q2 | Feb 15, 2015 | — | 21.04% | — | 20.85% | 6.95% | — |
| FY 2015 Q1 | Nov 23, 2014 | — | 18.47% | — | 18.06% | 6.36% | — |
| FY 2014 Q4 | Aug 31, 2014 | 18.07% | 18.07% | 8.69% | 17.79% | 6.5% | 10.4 pp |
| FY 2014 Q3 | May 11, 2014 | — | 17.87% | — | 17.75% | 6.31% | — |
| FY 2014 Q2 | Feb 16, 2014 | — | 18.19% | — | 18.16% | 6.48% | — |
| FY 2014 Q1 | Nov 24, 2013 | — | 18.92% | — | 17.15% | 6.64% | — |
| FY 2013 Q4 | Sep 1, 2013 | 18.94% | 19.14% | 29.17% | 17.58% | 7.1% | 11.2 pp |
| FY 2013 Q3 | May 12, 2013 | 20.67% | 19.07% | 127.06% | 17.62% | 7.02% | 13 pp |
| FY 2013 Q2 | Feb 17, 2013 | 18.52% | 18.94% | 1,269.11% | 17.53% | 6.92% | 10.8 pp |
| FY 2013 Q1 | Nov 25, 2012 | 17.93% | 19.11% | — | 14.69% | 6.3% | 10.2 pp |
| FY 2012 Q4 | Sep 2, 2012 | 16.71% | 18.65% | — | 14.03% | 6.34% | 9 pp |
| FY 2012 Q3 | May 6, 2012 | 16.14% | 17.18% | — | 12.86% | 5.76% | 8.4 pp |
| FY 2012 Q2 | Feb 12, 2012 | — | 16.66% | — | 12.73% | 5.7% | — |
| FY 2012 Q1 | Nov 20, 2011 | — | 16.81% | — | 12.72% | 5.44% | — |
| FY 2011 Q4 | Aug 28, 2011 | 15.32% | 17.14% | 28.83% | 12.81% | 5.78% | 7.6 pp |
| FY 2011 Q3 | May 8, 2011 | — | 16.78% | — | 12.4% | 5.57% | — |
| FY 2011 Q2 | Feb 13, 2011 | — | 16.16% | — | 12.58% | 5.7% | — |
| FY 2011 Q1 | Nov 21, 2010 | — | 15.68% | — | 12.52% | 5.45% | — |
| FY 2010 Q4 | Aug 29, 2010 | — | — | — | — | — | — |
| FY 2010 Q3 | May 9, 2010 | — | — | — | — | — | — |
| FY 2010 Q2 | Feb 14, 2010 | — | — | — | — | — | — |
| FY 2010 Q1 | Nov 22, 2009 | — | — | — | — | — | — |
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.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · COST, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.