Costco Reports Q3 Revenue Growth to $70.5 Billion

Costco Wholesale Corporation reported fiscal Q3 2026 revenue of $70.527 billion, marking an 11.58% increase year-over-year. This growth was supported by a 9.8% rise in comparable sales and a 21.5% jump in digital comparable sales. The company maintains a membership renewal rate of 89.7% and a return on equity of 29.1%.

The company is expanding its physical footprint with a target of 940 warehouses by the end of the fiscal year. While Costco is growing revenue faster than its direct competitor Walmart, it trades at a higher valuation with a trailing P/E ratio of 48.

Financial analysts identify several risks to the company's current valuation, including potential tariff pressures, foreign exchange volatility, and rising wages. In comparison to other membership-model peers, Costco's growth exceeds that of BJ's Wholesale Club, which posted 9.86% revenue growth in its first quarter of fiscal year 2027.