Costco Wholesale Corp.


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SKU: COST-1 Category:


Costco is almost at the target price from our last report as the company delivered another strong quarter despite the Covid-19 tailwinds slowing down. The company recently reported monthly data for April 2021 showing a staggering 24.2% growth in revenues. The company witnessed an 18% higher traffic as consumers have slowly started going back to retail outlets to carry out their purchasing. E-commerce revenues were up only 8.7% for this very reason but a positive number is definitely a positive sign. The company is seeing increased momentum in categories such as gasoline, food courts, and the optical and hearing aid departments. Costco has maintained a membership retention rate of close to 90% for its Gold and Executive members (priced at $120 and $60 respectively) and is due for a price increase in the next 1.5 years. The company merits a ‘Hold’ rating with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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