Costco’s December 1985 IPO at $10 per share—effectively $1.67 after accounting for subsequent stock splits—has translated every $100 invested into $86,058 today, a 50,858% gain. Those original ten shares now generate $1,329 in annual dividends, reflecting 21 consecutive years of dividend hikes and an 85% increase in payout since 2020. The company’s commitment to capital returns extends to share repurchases, with a $4 billion authorization in January 2023 and $2.18 billion retired in fiscal 2025, on top of several hundred million in fiscal 2024.

In Q1 of fiscal 2026, Costco reported net sales of $65.98 billion, up 8.2% year-over-year, and now operates 921 membership warehouses worldwide. The retailer plans to open 28 new locations this fiscal year, building on the fact that its most recent openings generated an average of $192 million in annual sales. International expansion topped off last quarter with new warehouses in Spain and France, underscoring Costco’s strategy of disciplined growth in both mature and emerging markets.

Costco’s membership base reached 81.4 million paid members after a 5.2% year-over-year increase, with renewal rates holding at 92.2% in U.S. and Canada clubs following a fee rise from $60 to $65. The company’s private-label and wholesale pricing model caps markups at 14–15%, reinforcing its value proposition—from the unchanged $1.50 hot-dog combo to bulk purchases across groceries, electronics and Kirkland Signature products—and driving resilient customer loyalty even as peers face store closures and bankruptcies.

Warren Buffett’s Berkshire Hathaway sold 4.3 million Costco shares in Q3 2020 for roughly $1.3 billion, a move later described by Buffett as "probably a mistake." Since that divestiture, Costco’s share price has climbed 138%, meaning those shares would now be worth about $3.66 billion. This missed opportunity highlights the strength of Costco’s membership-driven model, consistent margin discipline and shareholder-friendly capital allocation over the past five years.