COSTCO WHOLESALE CORP NEW（COST）の決算・業績分析
COSTCO WHOLESALE CORP NEWの2025年有価証券報告書をAI分析。売上高$275.2B(+8.2%)。営業利益$10.4B。Consumer Discretionary。
目次
COSTCO WHOLESALE CORP NEWの2025年度 業績サマリー
COSTCO WHOLESALE CORP NEW（証券コード: COST）の2025年度決算・業績分析。売上高は$275.2B（前年比+8.2%）。営業利益は$10.4B（前年比+11.8%）。純利益は$8.1B（前年比+9.9%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
COSTCO WHOLESALE CORP NEWの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Costco achieved $227.0B in FY2024 revenue (+15.8% YoY), driven by comparable sales growth and new warehouse openings (XBRL).
- Operating income rose to $7.8B (+16.2% YoY) with a 3.4% margin, reflecting SG&A leverage and higher sales (10-K).
- Net income reached $5.8B (+16.7% YoY), supported by strong profitability and efficient cost management (XBRL).
- ROE of 23.3% and net debt of -$8.3B (-0.9x EBITDA) highlight robust financial health and shareholder returns (XBRL).
COSTCO WHOLESALE CORP NEWの売上高変化の要因
- •FY2024 revenue totaled $227.0B (+15.8% YoY), driven by comparable sales growth (higher member shopping frequency and average ticket) and new warehouse openings (10-K). Historical data shows consistent 5-year CAGR of 11.3% in revenue, with operating income growing at 12.6% CAGR (XBRL). Segment-specific revenue figures are not disclosed in the provided data (N/A).
COSTCO WHOLESALE CORP NEWの営業利益変化の要因
- •Operating income increased to $7.8B (+16.2% YoY) with a 3.4% margin, supported by comparable sales growth and SG&A leverage (10-K). Net income rose to $5.8B (+16.7% YoY) with a 2.6% margin. Gross profit is not disclosed (XBRL). EBITDA of $9.7B (4.3% margin) reflects efficient cost management (XBRL).
COSTCO WHOLESALE CORP NEWの事業リスクと対応
Heavy reliance on U.S. and Canadian operations (86% and 85% of net sales/operating income in 2024), with California accounting for 27% of U.S. sales (10-K).
Challenges in implementing growth strategies, including securing suitable locations and navigating regulations (10-K).
New warehouses may cannibalize existing locations, reducing sales and profitability (10-K).
Supply chain investments may fail to deliver expected returns (10-K).
Risks to membership growth, loyalty, and brand recognition, which drive profitability (10-K).
COSTCO WHOLESALE CORP NEWの今後の見通し・業績予想
COSTCO WHOLESALE CORP NEWの事業内容
Costco operates membership-based warehouses and e-commerce platforms, generating revenue through merchandise sales, membership fees, and ancillary services like gasoline and pharmacy (10-K). Core offerings include Foods/Sundries, Non-Foods (appliances, electronics), and Fresh Foods, with ancillary services in gas, pharmacy, and food courts (10-K). Competitive advantages include low prices via volume purchasing, efficient distribution, and inventory management, supported by high sales volumes and rapid turnover (10-K).
COSTCO WHOLESALE CORP NEWのAI業績分析レポート（2024年度）
Costco Wholesale Corp (COST) FY2024 Annual Report Analysis
Highlights
Business Overview
Costco operates membership-based warehouses and e-commerce platforms, generating revenue through merchandise sales, membership fees, and ancillary services like gasoline and pharmacy (10-K). Core offerings include Foods/Sundries, Non-Foods (appliances, electronics), and Fresh Foods, with ancillary services in gas, pharmacy, and food courts (10-K). Competitive advantages include low prices via volume purchasing, efficient distribution, and inventory management, supported by high sales volumes and rapid turnover (10-K).
Revenue Analysis
FY2024 revenue totaled $227.0B (+15.8% YoY), driven by comparable sales growth (higher member shopping frequency and average ticket) and new warehouse openings (10-K). Historical data shows consistent 5-year CAGR of 11.3% in revenue, with operating income growing at 12.6% CAGR (XBRL). Segment-specific revenue figures are not disclosed (N/A).
Profitability Analysis
Operating income increased to $7.8B (+16.2% YoY) with a 3.4% margin, supported by comparable sales growth and SG&A leverage (10-K). Net income rose to $5.8B (+16.7% YoY) with a 2.6% margin. Gross profit is not disclosed (XBRL). EBITDA of $9.7B (4.3% margin) reflects efficient cost management (XBRL).
Balance Sheet Analysis
Equity ratio stands at 39.0%, with long-term debt of $5.4B and net debt of -$8.3B (-0.9x EBITDA), indicating strong liquidity (XBRL). Cash reserves totaled $13.7B, and total assets reached $64.2B in FY2024 (XBRL). Current ratio of 1.07x suggests moderate short-term liquidity (XBRL).
Cash Flow Analysis
Operating cash flow was $7.4B, with free cash flow (FCF) of $3.5B after $3.9B in CapEx (XBRL). Shareholder returns totaled $1.9B, including $1.5B in dividends and $439M in share repurchases (XBRL).
Working Capital Analysis
N/A — receivables, inventory, and payables days are not disclosed in the provided data (XBRL).
Risks
Outlook
Management highlights comparable sales growth, economic conditions, inflation, competition, and new warehouse openings as key trends impacting future results (10-K). No specific forward-looking guidance is provided in the 10-K (N/A).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 141.6B | 152.7B | 166.8B | 195.9B | 227.0B | 242.3B |
| Operating Income | 4.5B | 4.7B | 5.4B | 6.7B | 7.8B | 8.1B |
| Net Income | 3.1B | 3.7B | 4.0B | 5.0B | 5.8B | 6.3B |
| Total Assets | 40.8B | 45.4B | 55.6B | 59.3B | 64.2B | 69.0B |
| Total Equity | 15.2B | 18.3B | 17.6B | 20.6B | 25.1B | 23.6B |
| Operating Cash Flow | 5.8B | 6.4B | 8.9B | 9.0B | 7.4B | 11.1B |
Consumer Discretionaryの企業一覧
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