Costco Wholesale (COST) FY2015 results: revenue $116.2 billion, up 3.2% on the year
Costco Wholesale Corp. (COST) reported revenue of $116.2 billion for fiscal 2015, the year ended 30 August 2015, up 3.2% on the year before. Net income was $2.4 billion, up 15.5%, and diluted earnings per share $5.37. The figures are the company's own, from the 10-K it filed with the SEC on 14 October 2015.
Revenue
$116.2 billion
+3.2% on the year
FY2008FY2015
Operating margin
3.1%
2.9% a year earlier
FY2008FY2015
Net income
$2.4 billion
+15.5% on the year
FY2008FY2015
Diluted EPS
$5.37
+15.5% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
116,199
112,640
105,156
+3.2%
Cost of revenue
101,065
98,458
91,948
+2.6%
Gross profit
15,134
14,182
13,208
+6.7%
Gross margin
13.0%
12.6%
12.6%
Selling, general and administrative
11,445
10,899
10,104
+5.0%
Operating income
3,624
3,220
3,053
+12.5%
Operating margin
3.1%
2.9%
2.9%
Interest expense
124
113
99.0
+9.7%
Pre-tax income
3,604
3,197
3,051
+12.7%
Income tax
1,195
1,109
990
+7.8%
Effective tax rate
33.2%
34.7%
32.4%
Net income
2,377
2,058
2,039
+15.5%
Net margin
2.0%
1.8%
1.9%
Diluted EPS
$5.37
$4.65
$4.63
+15.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
4,285
3,984
3,437
+7.6%
Capital expenditure
2,393
1,993
2,083
+20.1%
Free cash flow
1,892
1,991
1,354
-5.0%
Free cash flow margin
1.6%
1.8%
1.3%
Cash from investing
n/a
-2,093
-2,251
Cash from financing
n/a
-786
44.0
Depreciation and amortisation
1,127
1,029
946
+9.5%
Share-based compensation
394
327
285
+20.5%
Buybacks
481
334
36.0
+44.0%
Dividends paid
2,865
584
3,560
+390.6%
Dividend per share
$6.51
$1.33
$8.17
+389.5%
Diluted shares, weighted
443m
442m
441m
+0.1%
Shares outstanding at period end
438m
438m
437m
+0.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
10,617
12,303
10,833
-13.7%
Non-controlling interest
226
212
179
+6.6%
Short-term borrowings
n/a
n/a
36.0
Debt
6,147
5,093
4,998
+20.7%
Other liabilities
16,027
15,054
14,237
+6.5%
Total liabilities and equity
33,017
32,662
30,283
+1.1%
Fixed assets
15,401
14,830
13,881
+3.9%
Goodwill
n/a
n/a
63.0
Investments
1,618
1,577
1,480
+2.6%
Cash and equivalents
4,801
5,738
4,644
-16.3%
Receivables
1,224
1,148
1,201
+6.6%
Inventory
8,908
8,456
7,894
+5.3%
Other assets
1,065
913
1,120
+16.6%
Total assets
33,017
32,662
30,283
+1.1%
10-K for the year ended 30 August 2015, filed 14 October 2015: the filing.