Income StatementBalance SheetCash FlowBusiness Segments
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Costco Wholesale Cash Flow Statement

Operating, investing, and financing cash movements

Costco Wholesale generated $23.4B in operating cash flow over the trailing twelve months. After $8.7B in capital expenditures, free cash flow was $14.7B. Free cash flow decreased 0.1% year-over-year. Based on the Q4 2025 filing.

Net Cash From Operating$4.7BNet Cash From Investing (TTM)-$4.8BNet Cash From Financing-$1.2BCapital Expenditures$1.5BDepreciation And Amortization$597.0MNet Change In Cash (TTM)$3.5B
Latest FilingQ4 2025
Report Date2025-12-17
Market Cap$436.49B
P/E Ratio53.89
ROE29.58%

Investing

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Capital expenditures—$1.3B$2.4B$3.5B—$1.5B
Net cash from investing activities—-$985.0M-$2.0B-$3.3B—-$1.4B
Other investing activities$6.0M$15.0M$13.0M$24.0M-$128.0M$17.0M
Purchases of investments—$247.0M$345.0M$573.0M$0.0$195.0M

Operating

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Change in accounts payable—$2.6B-$458.0M$604.0M—$3.8B
Change in inventories—$2.5B$362.0M$25.0M-$4.1B$3.2B
Other working capital changes—-$391.0M-$1.5B-$835.0M—-$873.0M
Other Non-cash Income (Expense)—$72.0M$79.0M$15.0M—$5.0M
Depreciation and amortization—$548.0M$1.1B$1.7B—$597.0M
Net cash from operating activities—$3.3B$6.0B$9.5B—$4.7B
Net income$2.1B$1.8B$1.8B$1.9B$2.4B$2.0B
Non-cash operating lease expense—$72.0M$137.0M$208.0M—$75.0M
Stock-based compensation—$463.0M$614.0M$720.0M—$486.0M

Supplemental

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Capital Expenditures Included in Liabilities—$204.0M$164.0M$115.0M—$258.0M
Financing Lease Assets Obtained via New Leases—$111.0M$103.0M$93.0M—$18.0M
Operating Lease Assets Obtained via New Leases—$15.0M$57.0M$237.0M—$93.0M
Income taxes paid—$401.0M$798.0M$1.6B$232.0M$239.0M
Interest paid—$44.0M$55.0M$81.0M—$43.0M

Financing

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Financing Lease Payments and Other Financing Activities$34.3M$34.3M$36.8M$36.8M$36.8M$36.8M
Repayments of debt$474.0M$194.0M$389.0M$635.0M—$0.0
Dividends paid—$515.0M$515.0M$1.0B$61.0M$577.0M
Net cash from financing activities—-$1.2B-$1.4B-$2.2B—-$1.2B
Payments for finance leases—$21.0M$98.0M$118.0M—$23.0M
Proceeds from short-term borrowings—$133.0M$370.0M$616.0M—$0.0
Repurchases of common stock—$207.0M$412.0M$623.0M—$210.0M
Taxes paid for net share settlement—$389.0M$390.0M$392.0M—$357.0M

Other

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Effect of exchange rate changes on cash$129.0M-$81.0M-$117.0M-$13.0M$203.0M-$67.0M
Net increase (decrease) in cash—$1.0B$2.5B$3.9B—$2.1B

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