홈/COST

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COSTNASDAQ/Consumer Defensive

Costco Wholesale Corporation

$926.43Up+10.18 (+1.11%)
Research reviewed: 2026년 7월 11일 AM 12:00 UTC
Research overview3-month price contextInvestment thesisKey catalystsLatest earnings researchRecent newsData and research sources

Research overview

Costco Wholesale Corporation is monitored through the lens of membership durability and retail traffic quality.

开盘
917.20
最高
930.98
最低
916.88
市值
4108.52亿
市盈率
46.60
52 周高点
--
股息
0.640%
季度分红金额
--

3-month price context

최근 3개월 추세를 통해 전체 리서치 워크스페이스로 가기 전 단기 구조를 빠르게 파악할 수 있습니다.

Investment thesis

Base case
membership durability and retail traffic quality
Bull case
renewal rates, traffic, and private-label value
Bear case
premium valuation and margin sensitivity
Thesis invalidation
membership fees, traffic, margins, and consumer trade-down

Key catalysts

  • Comparable-sales momentum

    Continued comparable-sales growth across geographic segments can support operating leverage.

  • Digital growth

    Rapid digitally enabled sales growth can expand customer engagement beyond warehouse visits.

  • Warehouse expansion

    Additional warehouses and international penetration can increase the membership and sales base.

Principal risks

  • Thin merchandise margins

    Costco's low-price operating model leaves earnings sensitive to merchandise costs, wages and supply-chain inflation.

  • Membership dependence

    Weaker renewal rates or reduced perceived membership value could pressure fee income and shopping frequency.

  • Expansion execution

    New warehouses and international operations introduce site, labor, currency, regulation and local-demand execution risks.

Latest earnings research

FY2026 Q3 (ended May 10, 2026)

Costco reported fiscal 2026 third-quarter results, including comparable-sales, digitally enabled sales, membership-fee and warehouse-footprint updates.

Valuation interpretation

  • A premium valuation requires durable membership economics and comparable-sales growth, not warehouse-count expansion alone.
  • Earnings quality should be assessed by separating recurring membership-fee economics from lower-margin merchandise sales.

Peer research

WMT

Recent news

Yahoo Finance · 8小时前

Walmart remains ahead of its rivals as it continues to slash prices

TheStreet · 1小时前

Sam's Club takes on Costco with a new weight-loss deal

24/7 Wall St. · 4小时前

Walmart Vs. Costco: Buy Walmart Over Costco for Defensive Coverage and AI Integration Superiority

Simply Wall St. · 6小时前

Costco (COST) Faces Protein Powder Heavy Metals Lawsuit And A Test Of Trust

TheStreet · 8小时前

Costco faces a food safety problem members need to know

24/7 Wall St. · 10小时前

The 1 Costco Pricing Secret That Makes It the Most Unusual Retailer in America

Data and research sources

Research updated: 2026년 7월 11일 AM 12:00 UTC
3 verified sources
Costco Reports Third Quarter and Year-to-Date Operating Results for Fiscal 2026Costco Wholesale Corporation · earningsVerified

Fetched: 2026. 7. 11. AM 12시 0분 0초 UTC

Published: 2026. 5. 28. AM 12:00:00

Open original source
Costco Wholesale Investor RelationsCostco Wholesale Corporation · companyVerified

Fetched: 2026. 7. 11. AM 12시 0분 0초 UTC

Open original source
Costco Wholesale SEC FilingsCostco Wholesale Corporation · filingVerified

Fetched: 2026. 7. 11. AM 12시 0분 0초 UTC

Open original source
COST editorial research profileAlphaVue Research · editorialVerified

Fetched: 2026. 7. 11. AM 12시 0분 0초 UTC

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