Overview

• Fiscal Q4 2025 topped expectations with revenue of $86.16 billion and EPS of $5.87, though same‑store sales rose 6.5% and still missed estimates.
• Membership economics remain central, with $5.3 billion in fee revenue in fiscal 2025 against $8.1 billion in net income and renewal rates above 90% in the U.S.
• E‑commerce expanded briskly, up 13.5% in the quarter and 15% for the year to $19.6 billion, now about 7% of sales as website traffic jumped 27% in Q4.
• Costco operates 914 warehouses and typically adds 20 to 30 locations each year, with international markets such as China signaling strong demand.
• The stock trades near record levels after a five‑year gain of roughly 180%, drawing praise for operational strength alongside concerns about limited upside.