Costco Wholesale (COST) FY2023 results: revenue $242.3 billion, up 6.8% on the year
Costco Wholesale Corp. (COST) reported revenue of $242.3 billion for fiscal 2023, the year ended 3 September 2023, up 6.8% on the year before. Net income was $6.3 billion, up 7.7%, and diluted earnings per share $14.16. The figures are the company's own, from the 10-K it filed with the SEC on 11 October 2023.
Revenue
$242.3 billion
+6.8% on the year
FY2016FY2023
Operating margin
3.3%
3.4% a year earlier
FY2016FY2023
Net income
$6.3 billion
+7.7% on the year
FY2016FY2023
Diluted EPS
$14.16
+7.8% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
11,068
7,392
8,958
+49.7%
Capital expenditure
4,323
3,891
3,588
+11.1%
Free cash flow
6,745
3,501
5,370
+92.7%
Free cash flow margin
2.8%
1.5%
2.7%
Cash from investing
-4,972
-3,915
-3,535
Cash from financing
-2,614
-4,283
-6,488
Depreciation and amortisation
2,077
1,900
1,781
+9.3%
Share-based compensation
774
724
665
+6.9%
Buybacks
676
439
496
+54.0%
Dividends paid
1,251
1,498
5,748
-16.5%
Dividend per share
$3.84
n/a
n/a
Diluted shares, weighted
444m
445m
444m
-0.1%
Shares outstanding at period end
443m
443m
442m
+0.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
25,058
20,642
17,564
+21.4%
Non-controlling interest
0.0
5.0
514
Debt
6,458
6,557
7,531
-1.5%
Operating lease liabilities
2,426
2,482
2,642
-2.3%
Other liabilities
35,052
34,480
31,017
+1.7%
Total liabilities and equity
68,994
64,166
59,268
+7.5%
Fixed assets
26,684
24,646
23,492
+8.3%
Goodwill
994
993
996
+0.1%
Investments
1,534
846
917
+81.3%
Cash and equivalents
13,700
10,203
11,258
+34.3%
Receivables
2,285
2,241
1,803
+2.0%
Inventory
16,651
17,907
14,215
-7.0%
Other assets
7,146
7,330
6,587
-2.5%
Total assets
68,994
64,166
59,268
+7.5%
10-K for the year ended 3 September 2023, filed 11 October 2023: the filing.