COSTCO WHOLESALE CORP /NEW (COST)

Retail-Variety Stores

Latest Price

$902.38

TTM P/E

Normalized P/E

60.58

Div Yield

0.45%

Book Value

75.48

P/B Ratio

11.95

Valuation metrics

EPS: $18.21

Book value / share: $65.80

Formula: √(22.5 × EPS × BVPS)

Graham Number

$164.19

82% downside

Norm. op. income: $8.0B (median of 6yr)

Tax rate: 24%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$157.14

83% downside

Base FCF: $6.6B (median of recent 5yr)

Growth: -2%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$177.69

80% downside

EPS: $18.21

Target P/E: 61×

Formula: EPS × P/E

P/E Fair Value

$1,110.81

+23% upside

73.8% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	34.20M	$32.00B	7.71%	-744.2K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	28.98M	$27.11B	6.53%	+129.2K	2026-06-30
STATE STREET CORP	18.38M	$17.20B	4.15%	+232.7K	2026-06-30
Invesco Ltd.	13.99M	$13.09B	3.15%	+9.68M	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	10.63M	$9.90B	2.40%	-31.8K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	10.40M	$9.73B	2.35%	-303.1K	2026-06-30
MORGAN STANLEY	10.22M	$9.56B	2.30%	+321.7K	2026-06-30
BANK OF AMERICA CORP /DE/	7.25M	$6.78B	1.63%	-265.3K	2026-06-30
NORGES BANK	6.47M	$6.06B	1.46%	+450.0K	2026-06-30
FMR LLC	6.16M	$5.76B	1.39%	-555.0K	2026-06-30