Question 1

What is Costco's P/B ratio?

Accepted Answer

Costco (COST) P/B ratio is 12.3× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Costco?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Costco specifically, the relevant sector benchmark is the current sector median of 3.4×.

Question 5

Is Costco's P/B ratio high or low?

Accepted Answer

Costco's P/B ratio of 12.3× is below its own 5-year average of 13.2× and above the sector median of 3.4×. That places the current reading at the 42th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Costco's historical P/B ratio range?

Accepted Answer

In the available daily series, Costco (COST) P/B ratio has ranged from a low of 2.0× in 2009 to a high of 19.6× in 2025. The 5-year average is 13.2× and the 5-year median is 13.0×.

Question 7

What was Costco's P/B ratio in 2025?

Accepted Answer

Costco (COST) P/B ratio at the end of 2025 was 14.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Costco's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$419B	$29.2B	14.4×	-2.4×	Aug 31, 2025
2024	$396B	$23.6B	16.8×	+7.0×	Sep 1, 2024
2023	$244B	$25.1B	9.7×	-1.5×	Aug 31, 2023
2022	$232B	$20.6B	11.2×	-0.3×	Aug 31, 2022
2021	$202B	$17.6B	11.5×	+3.1×	Aug 31, 2021
2020	$154B	$18.3B	8.4×	-0.1×	Aug 31, 2020
2019	$130B	$15.2B	8.5×	+0.5×	Aug 31, 2019
2018	$102B	$12.8B	8.0×	+1.6×	Aug 31, 2018
2017	$68.6B	$10.8B	6.4×	+0.5×	Aug 31, 2017
2016	$71B	$12.1B	5.9×	+0.1×	Aug 31, 2016
2015	$61.5B	$10.6B	5.8×	+1.5×	Aug 31, 2015
2014	$53B	$12.3B	4.3×	-0.2×	Aug 31, 2014
2013	$48.9B	$10.8B	4.5×	+1.1×	Aug 31, 2013
2012	$42.3B	$12.4B	3.4×	+0.6×	Aug 31, 2012
2011	$34.3B	$12B	2.9×	+0.6×	Aug 31, 2011
2010	$24.7B	$10.8B	2.3×	+0.1×	Aug 31, 2010
2009	$22.2B	$10B	2.2×	-1.0×	Aug 31, 2009
2008	$29.1B	$9.19B	3.2×	+0.1×	Aug 31, 2008
2007	$26.9B	$8.62B	3.1×	+0.7×	Aug 31, 2007
2006	$21.7B	$9.14B	2.4×	+0.0×	Aug 31, 2006
2005	$20.7B	$8.88B	2.3×	-0.2×	Aug 31, 2005
2004	$19B	$7.62B	2.5×	+0.1×	Aug 31, 2004
2003	$15.5B	$6.55B	2.4×	-0.3×	Aug 31, 2003
2002	$15.2B	$5.69B	2.7×	—	Aug 31, 2002


Albertsons Companies (ACI)	5.0×
Coca-Cola Europacific Partners (CCEP)	4.4×
Marzetti (MZTI)	3.6×
Lamb Weston (LW)	3.6×
Target (TGT)	3.6×
Tootsie Roll Industries (TR)	3.4×
Kenvue (KVUE)	3.1×
Brown-Forman (BF-B)	2.9×
Mondelez International (MDLZ)	2.9×
Dollar General (DG)	2.9×
Constellation Brands (STZ)	2.8×
Performance Food Group (PFGC)	2.7×
General Mills (GIS)	2.5×
J. M. Smucker (SJM)	1.9×
McCormick & Company (MKC)	1.8×
Archer-Daniels-Midland (ADM)	1.5×
Bunge Global S.A. (BG)	1.5×
Campbell Soup (CPB)	1.5×
Hormel Foods (HRL)	1.5×
Keurig Dr Pepper (KDP)	1.4×
Tyson Foods (TSN)	1.2×
Conagra Brands (CAG)	1.0×
Universal Corporation (UVV)	0.9×
Molson Coors Beverage (TAP)	0.8×
Kraft Heinz (KHC)	0.6×

P/B Ratio for Costco (COST) 2002-2026

P/B Ratio daily chart for Costco (COST)

Historical P/B Ratio for Costco (COST) from 2002 to 2025

About P/B Ratio at Costco (COST)

Costco P/B Ratio by Year

Costco P/B Ratio 2025: 14.4×

Costco P/B Ratio 2024: 16.8×

Costco P/B Ratio 2023: 9.7×

Costco P/B Ratio 2022: 11.2×

Costco P/B Ratio 2021: 11.5×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Costco (COST) Key Financials