Filing Flows › Costco Wholesale (COST) › Q1 FY26
Costco Wholesale (COST) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Dec 17, 2025
Costco Wholesale (COST) reported revenue of $67.3B for the first quarter fiscal 2026 (Q1 FY26), +8% from a year earlier and -22% from the quarter before. Operating margin was 3.7%, net earnings $2.0B (3.0% of revenue).
Costco Wholesale, Q1 FY26: revenue $67.3B (+8% year over year), operating margin 3.7%, net earnings $2.0B, operating cash flow $4.7B. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $67.3B | -22% | +8% |
| Operating profit | $2.5B | -26% | +12% |
| Net earnings | $2.0B | -23% | +11% |
| Operating cash flow | $4.7B | — | +44% |
| Free cash flow | $3.2B | — | +58% |
What changed
Revenue was $67.3B in Q1 FY26, up 8% year over year and down 22% from the previous quarter. Foods and Sundries was the largest line at 40% of revenue. Foods and Sundries added $1.9B year over year (up 8%), 36% of the total change.
Operating profit was $2.5B, a 3.7% margin (up 0.1 points year over year). Of the extra revenue versus a year earlier, 5% reached operating profit, above the 4% margin then. Total costs grew 8% against revenue growth of 8%. Net earnings were $2.0B, up 11% year over year. The effective tax rate was 22.5%.
Operating cash flow was $4.7B (up 44% year over year), 234% of net earnings. Non-cash charges added back $0.60B of depreciation and amortization and $0.49B of share-based compensation. Working capital and other items added $1.6B. Capital expenditures of $1.5B left free cash flow of $3.2B.
Questions
What was Costco Wholesale's revenue in the first quarter fiscal 2026?
Costco Wholesale (COST) reported revenue of $67.3B for the first quarter fiscal 2026 (Q1 FY26), +8% from a year earlier and -22% from the quarter before.
Was Costco Wholesale profitable in the first quarter fiscal 2026?
Operating profit was $2.5B (3.7% of revenue) and net earnings $2.0B.
Source: Costco Wholesale 10-Q on SEC EDGAR.