Consumer Staples • Membership Warehouse Clubs & Kirkland Private Label • SIC 5331
$1,012.28 ▲ +16.20
(+1.63%)
MKT CAP: $440.74B • VOL: 3.38M
52W L $844 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 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
$440.74B
UPSTREAM INPUTS ──► COST OPERATING ENGINE ──► CUSTOMER REVENUE
03 // DOWNSTREAM REVENUE CUSTOMERS
V 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 | $440.74B | 12.8% | 3.9% | 42.4% | 30.8x | +10.1% | SUBJECT ISSUER |
| WMT | Walmart Inc. | $123.51 | $972.82B | 25.2% | 4.4% | 20.1% | 22.5x | +6.2% | COST VS WMT <GO> |
| AMZN | Amazon.com, Inc. | $240.35 | $2.63T | — | — | 17.6% | 16.0x | — | COST VS AMZN <GO> |