Item 5. Market for Registrant’s Common Equity
Item 5—Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information and Dividend Policy
Our common stock is traded on the NASDAQ Global Select Market under the symbol “COST.” On September 30, 2025, we had 10,813 stockholders of record.
Payment of dividends is subject to declaration by the Board of Directors. Factors considered in determining dividends include our profitability and expected capital needs. Subject to these qualifications, we presently expect to continue to pay dividends on a quarterly basis.
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Issuer Purchases of Equity Securities
The following table sets forth information on our common stock repurchase activity for the fourth quarter of 2025 (dollars in millions, except per share data):
Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Program (1)
Maximum Dollar Value of Shares that May Yet be Purchased under the Program
May 12—June 8, 2025 69,000 $ 1,022.70 69,000 $ 2,172
June 9—July 6, 2025 71,000 990.69 71,000 2,102
July 7—August 3, 2025 73,000 955.59 73,000 2,032
August 4—August 31, 2025 72,000 966.22 72,000 1,962
Total fourth quarter 285,000 $ 983.13 285,000
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(1) Our share repurchase program is conducted under a $4,000 authorization approved by our Board of Directors in January 2023, which expires in January 2027.
Performance Graph
The following graph compares the cumulative total shareholder return assuming reinvestment of dividends on an investment of $100 in Costco common stock, S&P 500 Index, and the S&P Retail Select Index over the five years from August 30, 2020, through August 31, 2025. The S&P Retail Select Index comprises stocks in the S&P Total Market Index that are classified in the GICS Apparel Retail, Automotive Retail, Broadline Retail, Computer & Electronic Retail, Consumer Staples Merchandise Retail, Drug Retail, Food Retailers and Other Specialty Retail sub-industries.
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The following graph provides information concerning average sales per warehouse over a 10-year period.
Average Sales Per Warehouse*
(Sales In Millions)
Year Opened # of Whses
2025 24 $ 192
2024 29 $ 170 192
2023 23 $ 151 166 186
2022 23 $ 150 158 179 201
2021 20 $ 140 158 172 187 210
2020 13 $ 132 152 184 193 215 240
2019 20 $ 129 138 172 208 216 226 242
2018 21 $ 116 119 141 172 202 214 231 245
2017 26 $ 121 142 158 176 206 237 247 262 277
2016 & Before 715 $ 159 165 179 186 197 223 254 263 274 287
Totals 914 $ 159 $ 163 $ 176 $ 182 $ 192 $ 217 $ 245 $ 252 $ 260 $ 272
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Fiscal Year
*First year sales annualized.
2017 and 2023 were 53-week fiscal years but have been normalized for purposes of comparability.
Item 6—Reserved
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