COST Latest Report

Costco's Financial Performance

As of November 24, 2024, Costco's total operating revenue was $62.151 billion. Although specific year-on-year changes were not provided, by combining other financial indicators and search results, it can be seen that Costco's revenue growth trend and potential influencing factors.

Key Financial Data

1. Sales cost was $54.109 billion, gross profit was $8.042 billion, and the gross margin was approximately 12.93%. The relative stability of gross profit indicates that Costco performed well in cost control.

2. Net profit was $1.798 billion, and the net margin was approximately 2.89%. Although the net margin was low, Costco's business model relies on high turnover and low profit margins, showing its market competitiveness.

3. Net cash provided by operating activities was $3.26 billion, indicating that the company generated significant cash flow in its daily operations, supporting future growth.

4. The asset-liability ratio was 66.68%, showing that the company had high liabilities, but a moderate level of liabilities in the retail industry is usually considered effective leverage utilization.

Peer Comparison

1. Industry-wide analysis: The retail industry has recovered from the pandemic, with overall operating revenue rising, especially the increased demand for commodities and daily consumer goods. Costco, as a member warehouse club, benefits from consumers' pursuit of value for money and convenience.

2. Peer evaluation analysis: Compared with other retailers, Costco's total operating revenue is affected by competitive pressure, but its unique business model and stable member base provide a solid revenue source. Although the gross margin is low, it is compensated by high turnover rate and customer loyalty.

Summary

Through the analysis of Costco's financial data, it can be seen that the company maintains a certain growth momentum in operating revenue, despite the intensified market competition and uncertain economic environment. The company maintains a relatively stable financial condition through effective cost control and cash flow management.

Opportunities

1. Costco's membership model has huge potential for global market expansion, especially in international markets with a revenue compound growth rate of 12.4%.

2. Through strategies such as SKU reduction and operational efficiency optimization, Costco can further attract customers and reduce costs.

3. As consumers pay more attention to value for money, Costco's business model may continue to attract more customers, especially during economic uncertainty.

Risks

1. Costco's customer renewal rate in the Chinese market is lower than the global average, putting pressure on its operating revenue.

2. The competition in the membership retail market is intensifying, facing fierce competition from other retail giants such as Sam's Club.

3. The pressure on cost control may increase, especially in a slowing economy and reduced consumer spending, which may affect the company's profitability.