Issaquah, Washington, August 31, 2026, 14:27 EDT
- Costco traded at $941.90, down 0.4%, with a trailing P/E of 47.4 times.
- July net sales rose 10.7% to $23.12 billion; adjusted comparable sales increased 6.6%.
- Analysts’ average $1,077 target implies 14.3% upside, but rests near 52 times forecast fiscal-year earnings.
Costco Wholesale (NASDAQ: COST) shares slipped 0.4% to $941.90 on Monday. The move left the warehouse retailer valued at 47.4 times trailing earnings.
Costco investor dashboard
Fundamentals: latest reported periods
Growth engine
Upcoming catalysts
Peer valuation snapshot
| Company | Day | P/E | Market cap |
|---|---|---|---|
| Costco | -0.38% | 47.4× | $418.5bn |
| Walmart | +1.38% | 37.6× | $833.8bn |
| Target | -1.24% | 16.7× | $73.6bn |
| BJ's | +0.08% | 19.8× | $11.6bn |
Multiple sensitivity on $20.58 EPS
| Case | Value | Return |
|---|---|---|
| 40.0× | $823 | -12.6% |
| 47.4× | $975 | +3.5% |
| 52.3× | $1,077 | +14.3% |
Sensitivity only; not a price forecast.
The premium is the central investor question behind fresh search interest in “costco stock.” The company is producing double-digit sales growth, yet its valuation already assumes unusually durable execution U.S. Google Trends table.
| Retail stock | Price at 14:27 EDT | Day move | Trailing P/E | Market value |
|---|---|---|---|---|
| Costco | $941.90 | -0.38% | 47.4x | $418.5bn |
| Walmart (NYSE: WMT) | $104.51 | +1.38% | 37.6x | $833.8bn |
| Target (NYSE: TGT) | $161.16 | -1.24% | 16.7x | $73.6bn |
| BJ’s Wholesale Club (NYSE: BJ) | $90.67 | +0.08% | 19.8x | $11.6bn |
Costco’s multiple stands about 10 points above Walmart’s. It is more than double the readings for Target and BJ’s.
The operating record explains much of that gap. Costco reported July net sales of $23.12 billion, up 10.7% from a year earlier company release.
| Operating measure | Latest period | Reported growth | Adjusted growth |
|---|---|---|---|
| July net sales | $23.12bn | 10.7% | — |
| 48-week net sales | $273.55bn | 10.1% | — |
| July U.S. comparable sales | Four weeks | 10.3% | 6.9% |
| July total comparable sales | Four weeks | 8.9% | 6.6% |
| July digitally enabled sales | Four weeks | 17.7% | 18.2% |
| Fiscal Q3 net sales | $69.15bn | 11.6% | — |
Digital growth remains the clearest acceleration point. Adjusted digitally enabled comparable sales rose 18.2% in July and 20.8% in the fiscal third quarter.
Fiscal third-quarter net sales increased 11.6% to $69.15 billion. Net income reached $2.19 billion, or $4.93 a diluted share, according to Costco’s May results.
The market is paying for more than current growth. Consensus fiscal-year EPS of $20.58 is expected to rise 13.0%, while forecast revenue climbs 9.6% to $301.58 billion.
| Valuation case | Multiple on $20.58 EPS | Implied value | Move from $941.90 |
|---|---|---|---|
| Ten-year-style normalization | 40.0x | $823 | -12.6% |
| Current premium holds | 47.4x | $975 | +3.5% |
| Analyst-average equivalent | 52.3x | $1,077 | +14.3% |
The scenario table is not a price forecast. It shows how strongly the return depends on investors preserving Costco’s premium.
Analysts remain constructive. A poll of 39 analysts carries a Buy consensus and a $1,077 average target, with estimates ranging from $740 to $1,315 S&P Global-based consensus.
| August analyst view | Count | Target or implication |
|---|---|---|
| Strong Buy | 19 | 23 positive ratings |
| Buy | 4 | |
| Hold | 14 | Valuation discipline |
| Sell / Strong Sell | 2 | Downside risk |
| Average target | 39 analysts | $1,077 |
The next scheduled test arrives on September 24, when Costco reports fiscal fourth-quarter results investor calendar. Investors will watch core U.S. traffic, digital growth and gross margin.
Risks: Slower traffic, wage pressure or weaker renewal economics could compress earnings. Even steady execution may not prevent losses if the P/E returns toward its roughly 40-times long-run norm valuation context.
Costco’s business momentum remains strong. At $941.90, however, sales growth must translate into sustained per-share growth before valuation compression absorbs the gain.
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