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Costco Wholesale Corporation (COST) 财务分析 | 估值·财报 | 100Baggers.club

Costco Wholesale Corporation

COST

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories. The company offers sundries, dry groceries, candies, coolers, freezers, liquor, and tobacco and deli products; appliances, electronics, health and beauty aids, hardware, garden and patio products, sporting goods, tires, toys and seasonal products, office supplies, automotive care products, postages, tickets, apparel, small appliances, furniture, domestics, housewares, special order kiosks, and jewelry; and meat, produce, service deli, and bakery products. It also operates pharmacies, opticals, food courts, hearing-aid centers, and tire installation centers, as well as 636 gas stations; and offers business delivery, travel, same-day grocery, and various other services online in various countries. As of August 29, 2021, the company operated 815 membership warehouses, including 564 in the United States and Puerto Rico, 105 in Canada, 39 in Mexico, 30 in Japan, 29 in the United Kingdom, 16 in South Korea, 14 in Taiwan, 12 in Australia, 3 in Spain, 1 in Iceland, 1 in France, and 1 in China. It also operates e-commerce websites in the United States, Canada, the United Kingdom, Mexico, South Korea, Taiwan, Japan, and Australia. The company was formerly known as Costco Companies, Inc. and changed its name to Costco Wholesale Corporation in August 1999. Costco Wholesale Corporation was founded in 1976 and is based in Issaquah, Washington.

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📊 估值

关键估值指标

EV/EBITDA (TTM)

i

Enterprise Value, EBITDA and Ratio

EV/EBIT (TTM)

i

Enterprise Value, EBIT and Ratio

EV/Sales (TTM)

i

Enterprise Value, Revenue and Ratio

P/E Ratio (TTM)

i

Market Cap, Net Income and Ratio

P/B Ratio (Quarterly)

i

Market Cap, Book Value and Ratio

FCF Yield (TTM)

i

FCF, Enterprise Value and Yield

PR Profit Ratio (PPM)

i

PE Ratio, ROE and Profit Ratio (PR = PE / ROE)

📈 成长

营收、盈利和每股成长指标

Revenue (Quarterly)

i

Quarterly Revenue

Revenue/Share (Quarterly)

i

Revenue Per Share

Net Income (Quarterly)

i

Quarterly Net Income

EPS (Quarterly)

i

Earnings Per Share

Gross Profit/Share (Quarterly)

i

Gross Profit Per Share

OCF/Share (Quarterly)

i

Operating Cash Flow Per Share

FCF/Share (Quarterly)

i

Free Cash Flow Per Share

Operating Leverage (YoY)

i

Change in Operating Income / Change in Revenue

💰 盈利

利润率和净资产收益率

Gross Margin (TTM)

i

Revenue, Gross Profit and Gross Margin

Operating Margin (TTM)

i

Revenue, Operating Income and Operating Margin

Net Profit Margin (TTM)

i

Revenue, Net Income and Net Profit Margin

ROE (TTM)

i

Equity, Net Income and Return on Equity

ROA (TTM)

i

Assets, Net Income and Return on Assets

ROTCE - Return on Tangible Common Equity (TTM)

i

Net Income, Tangible Common Equity and ROTCE

OCF Margin (TTM)

i

Revenue, Operating Cash Flow and OCF Margin

FCF Margin (TTM)

i

Revenue, Free Cash Flow and FCF Margin

💵 现金质量

现金流质量和转换指标

OCF/NI Ratio (TTM)

i

Operating Cash Flow, Net Income and Ratio

FCF/NI Ratio (TTM)

i

Free Cash Flow, Net Income and Ratio

OCF/Capex (TTM)

i

Operating Cash Flow, Capex and Coverage Ratio

OCF/SBC (TTM)

i

Operating Cash Flow, SBC and Coverage Ratio

🛡️ 财务韧性

债务、流动性和财务健康度

Debt/Equity (quarterly)

i

Total Debt, Total Equity and Debt/Equity Ratio

EBITDA/Net Debt (TTM)

i

EBITDA, Net Debt and Coverage Ratio

Interest Coverage (TTM)

i

EBIT, Interest Expense and Coverage Ratio

Current Ratio (quarterly)

i

Current Assets, Current Liabilities and Current Ratio

Quick Ratio (quarterly)

i

Quick Assets, Current Liabilities and Quick Ratio

Altman Z-Score

i

Financial Distress Prediction Model

⚙️ 运营与资本效率

资产利用率、营运资本、ROIC和资本效率

ROIC (TTM)

i

NOPAT, Invested Capital and Return on Invested Capital

ROCE - Return on Capital Employed (TTM)

i

EBIT, Capital Employed and Return on Capital Employed

Asset Turnover (TTM)

i

Revenue, Total Assets and Turnover Ratio

CapEx/Depreciation - Investment Intensity (TTM)

i

CapEx, Depreciation and Ratio (>1=Expansion, <1=Contraction)

R&D/Gross Profit - R&D Intensity (TTM)

i

R&D Expenses, Gross Profit and Ratio

SG&A/Revenue - SG&A Efficiency (TTM)

i

SG&A Expenses, Revenue and Ratio

Cash Conversion Cycle (TTM)

i

DSO + DIO - DPO (in days)

DSO - Days Sales Outstanding (TTM)

i

Average Receivables and Days Sales Outstanding

DIO - Days Inventory Outstanding (TTM)

i

Average Inventory and Days Inventory Outstanding

DPO - Days Payables Outstanding (TTM)

i

Average Payables and Days Payables Outstanding

Goodwill/Assets (Quarterly)

i

Goodwill as % of Total Assets

🎁 股东回报

股息、股票回购、稀释和内部人交易活动

Dividend Yield (TTM)

i

Dividend Per Share, Share Price and Dividend Yield

Buyback Yield (TTM)

i

Net Buyback and Buyback Yield

Buyback Yield (3 Years)

i

Net Buyback 3Y and Buyback Yield 3Y

Dilution Rate (1 Year)

i

Current Shares, 1Y Ago Shares and Dilution Rate

Dilution Rate (3 Years)

i

Current Shares, 3Y Ago Shares and Dilution Rate

SBC Offset Rate (TTM)

i

Buyback / Stock-Based Comp and SBC Ratio

Insider Activity Rate (TTM)

i

Insider Net Buying and Activity Rate

利润瀑布图分析

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P

盈利能力指标

Gross Profit Margini毛利率

-25.06%

毛利润 = $-17.68B

营业收入 = $70.53B

Operating Profit Margini营业利润率

3.99%

营业利润 = $2.81B

营业收入 = $70.53B

EBITDA MarginiEBITDA利润率

2.23%

EBITDA = $1.58B

营业收入 = $70.53B

EBIT MarginiEBIT利润率

0.00%

EBIT = $2.94B

营业收入 = $70.53B

Net Profit Margini净利率

3.11%

净利润 = $2.19B

营业收入 = $70.53B

Pretax Profit Margini税前利润率

4.17%

税前利润 = $2.94B

营业收入 = $70.53B

E

运营效率指标

Interest Coveragei利息保障倍数

165.46x

EBIT (TTM) = $8.94B

利息费用 (TTM) = $0.05B

65.8x

69.6x

73.3x

77.5x

165.5x

SG&A / Revenuei销管费率

8.78%

销售及管理费用 = $6.19B

营业收入 = $70.53B

R&D / Revenuei研发占比

0.00%

研发费用 = $0.00B

营业收入 = $70.53B

R

回报率指标 (TTM)

ROAi总资产回报率

11.07%

净利润 = $8.84B

平均总资产 = $79.83B

ROEi净资产收益率

29.92%

净利润 = $8.84B

平均股东权益 = $29.54B

ROICi投入资本回报率

46.34%

NOPAT (TTM) = $8.44B

平均投入资本 = $18.22B

(NOPAT = 营业利润 × (1 - 有效税率))

(平均投入资本 = (本期IC + 去年同期IC) / 2)

Revenue Growthi营收增长率

11.58%

当期营收 = $70.53B

去年同期营收 = $63.21B

+8.0%

+8.1%

+8.3%

+9.2%

+11.6%

Operating Cash Flow/Sharei每股经营现金流

N/A

经营现金流 = $15.00B

流通股数 = 0.00B

$27.94

$29.99

$33.21

$33.77

综合分析

利润表项目	同比增长	当季数据	趋势
营业收入	+11.6%	$70.53B	↑
毛利	-315.3%	$-17.68B, -25.06%	↓
营业利润	+11.3%	$2.81B, 3.99%	↑
EBITDA	-50.2%	$1.58B, 2.23%	↓
税前利润	+13.9%	$2.94B, 4.17%	↑
净利润	+15.2%	$2.19B, 3.11%	↑
稀释每股收益	-312.1%	-9.08	↓

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L

流动性指标

Current Ratioi流动比率

1.07

正常

流动资产 = $45.18B

流动负债 = $42.13B

Quick Ratioi速动比率

0.61

关注

速动资产 = $25.76B

流动负债 = $42.13B

Cash Ratioi现金比率

0.47

正常

现金及等价物 = $20.00B

流动负债 = $42.13B

Cash Ratio = (Cash + Short-term Investments) / Current Liabilities

L

杠杆指标

Debt to Equityi债务权益比

0.07

健康

总债务 = $5.67B

总权益 = $33.51B

Liabilities to Assetsi资产负债率 (总负债)

61.2%

关注

总负债 = $52.92B

总资产 = $86.43B

Equity Multiplieri权益乘数

2.58

正常

总资产 = $86.43B

总权益 = $33.51B

E

效率指标

Asset Turnoveri总资产周转率

3.68

健康

营收 (TTM) = $293.59B

平均总资产 = $79.83B

Inventory Turnoveri存货周转率

16.32

健康

营业成本 (TTM) = $313.50B

平均存货 = $19.20B

Receivables Turnoveri应收账款周转率

77.96

健康

营收 (TTM) = $293.59B

平均应收账款 = $3.77B

S

偿债能力

Interest Coveragei利息保障倍数

165.46

健康

EBIT (TTM) = $8.94B

利息费用 (TTM) = $-0.05B

Net Debt to EBITDAi净债务/EBITDA

-1.32

健康

净债务 = $-16.48B

EBITDA (TTM) = $12.48B

Debt Service Coveragei偿债覆盖率

185.19

健康

经营现金流 (TTM) = $15.00B

债务偿付 = $-0.08B

V

价值指标

Goodwill %i商誉占比

0.0%

健康

商誉 = $0.00B

总资产 = $86.43B

Working Capital Ratioi营运资本比率

0.04

关注

营运资本 = $3.05B

总资产 = $86.43B

现金流瀑布图

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流入

流出

小计

起止点

C

现金流指标

经营现金流 TTMi

$15.00B

自由现金流 TTMi

$8.81B

FCF = OCF - CapEx

经营现金流 (TTM) = $15.00B

资本支出 (TTM) = $-6.19B

自由现金流收益率i

1.99%

关注

FCF (TTM) = $8.81B

市值 = $441.83B

经营现金流/销售比i

5.11%

关注

经营现金流 (TTM) = $15.00B

营业收入 (TTM) = $293.59B

Q

质量与覆盖指标

收益质量i

1.70x

健康

经营现金流 (TTM) = $15.00B

净利润 (TTM) = $8.84B

现金流/债务比i

6.08x

健康

经营现金流 (TTM) = $15.00B

总负债 = $2.47B

短期覆盖率i

0.36x

关注

经营现金流 (TTM) = $15.00B

流动负债 = $42.13B

资本支出覆盖率i

2.42x

正常

经营现金流 (TTM) = $15.00B

资本支出 (TTM) = $6.19B

E

效率指标

⚡ 比率按USD计算，去除汇率影响

自由/经营现金流比i

58.71%

关注

自由现金流 (TTM) = $8.81B

经营现金流 (TTM) = $15.00B

资本支出/营收比i

2.11%

健康

资本支出 (TTM) = $6.19B

营业收入 (TTM) = $293.59B

净债务/EBITDAi

-1.32

健康

净债务 = $-16.48B

EBITDA (TTM) = $12.48B

G

增长指标

经营现金流增长率i

-0.32%

关注

当期OCF (TTM) = $3.45B

上期OCF = $3.46B

股东盈余i

$5.21B

健康

净利润 (TTM) = $8.84B

+ 折旧摊销 (TTM) = $2.56B

- 资本支出 (TTM) = $-6.19B