COST vs WMT: Costco vs Walmart Stock Comparison
Costco (COST) and Walmart (WMT) are America’s two most successful big-box retailers. Costco runs membership warehouses where fees provide much of the profit; Walmart is the world’s largest retailer, growing fast in e-commerce, advertising and its Sam’s Club warehouse chain. Both trade at unusually high valuations for retailers.
COST vs WMT: 1-year performance
Our take
Membership compounder vs. omnichannel giant. Costco’s fiscal Q4 net sales rose 11.2% with comps +6.7% excluding gas and currency, renewal rates above 92% in the US and Canada, and September comps up 11.4%. Walmart’s July quarter revenue grew 5.9% to $187.9B with e-commerce +23% and advertising +38%, but US comps slowed to +2.6% and the stock fell 9% on the report. Both trade near 45x earnings; Costco has the steadier growth, Walmart the higher-margin new businesses.
Prices and returns on this page update live; company figures are from company filings and announcements. Not investment advice.
COST strengths
Costco- Consistent comps. FY2026 comps +8.4% (+6.6% ex gas and FX); September 2026 comps +11.4%; digital sales +19.5% in Q4.
- Membership loyalty. 84.1M paid members, 92.3% US/Canada renewal rate and record executive-member share; fee income $1.85B in Q4 (+7.3%).
- Net cash. ~$21.3B of cash and short-term investments vs ~$6.2B of debt; history of special dividends.
WMT strengths
Walmart- New profit engines. Global e-commerce +23%, advertising +38% and membership fees +17% in the July 2026 quarter.
- Scale and guidance. Revenue $187.9B (+5.9%); FY2027 guidance raised to sales +4–5% and adjusted EPS $2.80–2.87.
- Steady dividend growth. 53 consecutive years of dividend increases; $0.99 a share in FY2027.
Key risks
- COST Valuation: about 45–50x earnings and ~60x free cash flow.
- COST Low margins (~4% operating) leave little room for cost pressure; tariff refunds are being reinvested in prices.
- COST Class-action lawsuits over tariff refunds.
- WMT US comps slowed to +2.6% (pharmacy price legislation, GLP-1s, fuel prices).
- WMT Q2 operating income growth (+28.8%) flattered by ~$2.9B of tariff refunds; softer Q3 guide.
- WMT Premium valuation (~40x+ earnings) and higher debt (~$50B).
Total return
Split- and dividend-adjusted.
Quarterly revenue
Quarters by calendar period end, Q2 2025 – Q3 2026. Costco’s fiscal Q4 has 16 weeks; Walmart’s October 2026 quarter is not yet reported.
Revenue growth y/y
Reported revenue growth vs the same fiscal quarter a year earlier.
COSTWMT
COST vs WMT returns
Split- and dividend-adjustedTotal return includes reinvested dividends. The 5-year return is in the table only.
Risk (1 year)
| Metric | COST | WMT |
|---|---|---|
| Annualized volatility | – | – |
| Max drawdown | – | – |
| Below 52-week high | – | – |
| Correlation of daily returns | – | |
Quarterly revenue ($M)
| Symbol | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 | Q3 26 |
|---|---|---|---|---|---|---|
| COST | 63,205.0 | 86,156.0 | 67,307.0 | 69,597.0 | 70,527.0 | 95,723.0 |
| WMT | 177,402.0 | 179,496.0 | 190,656.0 | 177,751.0 | 187,937.0 | – |
COST vs WMT fundamentals
Latest quarter: Costco FQ4 FY26 (to Aug 30, 2026, 16 weeks), Walmart FQ2 FY27 (to Jul 31, 2026)| Metric | COST | WMT | Edge |
|---|---|---|---|
| Market cap (live) | – | – | – |
| P/E ratio (live, trailing) | – | – | – |
| Dividend yield (live, on current annual rate) | – | – | – |
| Latest quarterly revenue | $95.7B (16 weeks) | $187.9B (+5.9%) | WMT |
| Comparable sales (ex gas) | +6.7% total, US +7.2% | Walmart US +2.6%, Sam’s Club +4.4% | COST |
| E-commerce growth | +19.5% (digitally enabled) | +23% global | WMT |
| Membership | 84.1M paid members, 92.3% US/Canada renewal | Membership fee revenue +17% | COST |
| Gross margin | 12.7% | 26.1% | WMT |
| Operating margin | 4.0% | 5.0% | WMT |
| EPS (quarter) | $6.75 (FY26 $20.76) | $0.81 adjusted | – |
| Guidance | None (FY27 capex ~$7.5B, ~30 net new warehouses) | FY27 sales +4–5%, adj. EPS $2.80–2.87 (raised) | – |
| Cash / total debt | ~$21.3B / ~$6.2B | ~$11.5B / ~$50.4B | COST |
| Annual dividend per share | $5.88 (+13%) | $0.99 (+5%) | – |
Deals, contracts and corporate actions timeline
| Date | Co. | Counterparty | Deal | Value |
|---|---|---|---|---|
| Oct 7, 2026 | COST | September sales | Net sales $30.0B (+13.0%), comps +11.4% (+7.6% ex gas and FX) | – |
| Sep 24, 2026 | COST | FQ4 results | Net sales $93.9B (+11.2%), EPS $6.75; first tariff refunds of $184M, mostly reinvested in prices | – |
| Aug 20, 2026 | WMT | FQ2 results | Revenue $187.9B (+5.9%), e-commerce +23%, advertising +38%; guidance raised but US comps +2.6%; stock fell ~9% | – |
| Aug 2026 | WMT | US government | IEEPA tariff refunds received | ~$2.9B |
| Apr 15, 2026 | COST | Shareholders | Quarterly dividend raised to $1.47 from $1.30 | $5.88/yr |
| Mar 11, 2026 | COST | Customers | Class actions allege “double recovery” on tariff costs and refunds | – |
| Feb 25, 2026 | WMT | FTC and 11 states | Settlement over Spark Driver pay claims | $100M |
| Feb 19, 2026 | WMT | Shareholders | Annual dividend raised 5% to $0.99, the 53rd consecutive increase | $0.99/yr |
| Feb 1, 2026 | WMT | John Furner | Becomes CEO, succeeding Doug McMillon | – |
| Jan 2026 | WMT | Wing (Alphabet) | Drone delivery expanded to 150 more stores; 270+ locations targeted by 2027 | – |
| Dec 9, 2025 | WMT | Nasdaq | Stock listing moved from NYSE to Nasdaq | – |
| Nov 2025 | COST | US government | Lawsuit in the Court of International Trade seeking refunds of IEEPA tariffs | – |
COST vs WMT analysis
Two models
Costco sells a limited range of items at very low markups and earns most of its operating profit from membership fees, so loyalty and renewal rates matter more than gross margin. Walmart sells almost everything, at larger scale, and is building higher-margin businesses on top of its stores: advertising, marketplace, membership and delivery.
Growth
Costco’s comparable sales have run in the high single digits with strong traffic. Walmart grows mid-single digits overall but faster online, and its US comps slowed in mid-2026 due to pharmacy pricing legislation and fuel.
Tariff refunds
Both received IEEPA tariff refunds after the Supreme Court ruling and both are reinvesting most in lower prices, which flatters recent profit growth. Costco faces class actions claiming it should pass refunds to customers.
Valuation
Both trade at P/E multiples far above typical retailers (live figures above), pricing in years of steady growth. Costco’s premium is the larger one.
What to watch
Costco’s monthly sales and possible special dividend; Walmart’s US comps, advertising growth and the new CEO’s strategy; consumer spending and tariffs for both.
COST vs WMT FAQ
Which is bigger, Costco or Walmart?
Walmart is much bigger: $187.9 billion of revenue in its July 2026 quarter, versus $95.7 billion for Costco’s 16-week fiscal fourth quarter.
Which is growing faster, COST or WMT?
Costco. Its fiscal Q4 2026 net sales rose 11.2% (comps +6.7% excluding gas and currency) versus 5.9% revenue growth for Walmart in its July quarter.
Which pays a higher dividend, Costco or Walmart?
Costco pays $5.88 a year per share and has paid special dividends in the past; Walmart pays $0.99 a year with 53 straight annual increases. Both yields are low; live figures are above.
Did Walmart move to Nasdaq?
Yes. Walmart transferred its stock listing from the NYSE to Nasdaq in December 2025, keeping the ticker WMT.