Consumer Staples • Membership Warehouse Clubs & Kirkland Private Label • SIC 5331
$1,012.28 ▲ +17.67
(+1.78%)
MKT CAP: $441.39B • VOL: 3.47M
52W L $407 52W H $1,097
COST // VALUE CHAIN TOPOLOGY: SUPPLIERS ──► ISSUER ──► REVENUE CUSTOMERS (SPLC <GO>)
SOURCE: Form 10-K (FY2025) // Item 1 Merchandising & Membership Operations
01 // UPSTREAM SUPPLIERS & FOUNDRIES
PG <GO>
CRITICAL
Procter & Gamble / CPG & Kirkland Co-Manufacturers
SUPPLIER • National Brand & Kirkland Signature (~33% of Sales) Bulk Manufacturing
EST. COGS / CAPEX SHARE 48%
EVIDENCE: 10-K Item 1 Direct Manufacturer Sourcing & Kirkland Signature
XOM <GO>
HIGH
Refined Fuel Wholesale Suppliers
SUPPLIER • High-Turn Costco Gasoline Stations (~12% of Total Revenue)
EST. COGS / CAPEX SHARE 12%
EVIDENCE: 10-K Ancillary Businesses — Gasoline Operations Disclosures
CORE VALUE-CHAIN HUB NASDAQ
COST // Costco Wholesale Corporation
GROSS MARGIN
12.8%
OP MARGIN
3.9%
ROIC %
42.4%
MKT CAP
$441.39B
UPSTREAM INPUTS ──► COST OPERATING ENGINE ──► CUSTOMER REVENUE
03 // DOWNSTREAM REVENUE CUSTOMERS
V <GO>
REV SHARE: ~98%
Citigroup / Visa Co-Branded Costco Anywhere Cardholders
CUSTOMER • 76M+ Paid Household & Business Members (~93% US/Canada Renewal)
EVIDENCE: 10-K Membership Fee Revenue ($4.8B+ High-Margin Fee Pool)
DIRECT COMPETITOR FUNDAMENTAL BENCHMARK MATRIX
LIVE DB CROSS-COMPARISON
| TICKER | COMPANY | LAST | MKT CAP | GROSS MGN | OP MGN | ROIC % | EV/EBITDA | REV YOY | HEAD-TO-HEAD |
|---|---|---|---|---|---|---|---|---|---|
| COST ★ | Costco Wholesale Corporation | $1,012.28 | $441.39B | 12.8% | 3.9% | 42.4% | 31.4x | +10.1% | SUBJECT ISSUER |
| WMT | Walmart Inc. | $121.25 | $961.97B | 25.2% | 4.4% | 20.1% | 22.5x | +6.2% | COST VS WMT <GO> |
| AMZN | Amazon.com, Inc. | $243.79 | $2.63T | — | — | 17.6% | 15.8x | — | COST VS AMZN <GO> |
| BJ | BJ's Wholesale Club Holdings Inc. | $105.41 | $13.31B | 18.6% | 3.8% | 25.3% | 9.7x | +4.7% | COST VS BJ <GO> |
| KO | Coca-Cola Company | $92.82 | $399.30B | 61.6% | 28.7% | 25.3% | 26.4x | +1.9% | COST VS KO <GO> |
| KOF | Coca Cola Femsa S.A.B. de C.V. American | $115.50 | $194.12B | — | 13.9% | 9.9% | 21.0x | +3.3% | COST VS KOF <GO> |
| PEP | PepsiCo Inc. | $133.79 | $182.32B | 54.1% | 12.2% | 17.0% | 14.3x | +2.3% | COST VS PEP <GO> |