# Costco Stock Q3 2026: A $303bn Year, 9.4% Comps and 84 Million Members
> Costco stock Q3 2026: fiscal Q4 revenue up 11% to $95.7bn, comps up 9.4%, EPS $6.75, 84.1m paid members and a $7.5bn capex plan. COST risks.

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## Facts
- Ticker: COST
- QSILabs fair value: $398.40 USD
- Price: $1,012.28 (as of 2026-10-30)
- As of: fiscal Q4 FY2026 results (16 weeks ended 2026-08-30); price as of 2026-10-30 close
- Published: 2026-11-02
- Updated: 2026-11-02
- Author: QSI Labs Research
- Canonical: https://www.quantitativesuperintelligencelabs.com/research/costco-stock-q3-2026-earnings-membership-fees/

## Short answer
Costco stock Q3 2026 coverage means Costco's fiscal fourth quarter, the 16 weeks to 30 August 2026, which closed a record year. Quarterly revenue rose 11.1% to $95.7bn, comparable sales rose 9.4% (6.7% excluding gasoline prices and currency) and diluted EPS rose 15% to $6.75. For the full year, revenue passed $303bn, membership fees rose 11% to $5.91bn and paid members reached 84.1 million. Our discounted cash flow model, updated for the results, puts Costco at $398.40 a share, against a $1,012.28 close on 30 October 2026. The business is one of the steadiest in retail; the share price assumes it compounds for far longer, and at far better economics, than we do.

## Key takeaways
- Revenue up 11.1%. Fiscal Q4 2026 total revenue was $95,723m, up from $86,156m. Net sales rose 11.2% to $93,873m and membership fees rose 7.3% to $1,850m.
- Comparable sales accelerated. Total comparable sales rose 9.4%, or 6.7% excluding gasoline prices and foreign exchange. US comparable sales rose 10.7% (7.2% adjusted) and digitally-enabled sales rose 19.5%.
- Earnings up 15%. Net income was $2,998m and diluted EPS $6.75, up from $2,610m and $5.87. Excluding a $0.15 a share benefit from tariff refunds, EPS was $6.60, up 12.4%.
- A record year. Fiscal 2026 revenue was $303,154m (+10.1%), operating income $11,685m (+12.5%), net income $9,226m (+13.9%) and diluted EPS $20.76 (+14.0%).
- Members keep renewing. Paid members rose 3.8% to 84.1 million, executive members rose to 42.3 million and the renewal rate was 92.3% in the US and Canada and 89.8% worldwide.
- More warehouses, more capex. Costco ended the year with 939 warehouses and plans up to 33 openings in fiscal 2027, including five relocations. Capital spending is planned at about $7.5bn, up from $6.4bn.
- Our value: $398.40 a share, down $5.49 from $403.89, and about 61% below the $1,012.28 close on 30 October. A two-stage cross-check gives $397.55; analysts' average target is $1,068.

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Publisher: QSI Labs (Quantitative Super Intelligence Labs)
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