Costco management check

COST · Consumer Staples · Consumer Staples Merchandise Retail · CEO Ron M. Vachris

Filings as of

78
Management score, ranked 71st of 487Strongest: owner returns. Weakest: stable leadership. See the best and worst run in Consumer Staples →

4 good · 3 to watch · 0 flagged, across the seven questions below.

  • Good

    Have owners done well?

    Beat its chosen peers

    $100 invested at the start of fiscal 2021 grew to $294, against $173 for the peer group the company picked itself.

  • Good

    Does pay follow performance?

    Pay rose and fell with returns

    Over 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.63 with shareholder return. 1 means pay moved in step; below 0, the opposite way.

  • Good

    What does the CEO cost owners?

    0.2% of net income

    $13.9m of reported pay in fiscal 2025, against $8.1bn of net income.

  • Watch

    Do they own the stock?

    Insiders are selling

    4 insiders sold $4.6m in the last six months and none bought.

  • Watch

    Are owners being diluted?

    Share count growing

    Diluted shares changed +0.0% a year over the last three fiscal years. Stock-based pay was 0.3% of revenue in the latest year.

  • Watch

    Is leadership stable?

    2 CEOs in the pay table

    CEOs in the pay table: W. Craig Jelinek, Ron M. Vachris. 9 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.

  • Good

    Are the books clean?

    No red flags on file

    No restatements, auditor changes or late filings since 2021.

Against the S&P 500

Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Consumer Staples.

CheckScoreAt or aboveSector median
Owner returns100100%31
Pay for performance8148%84
CEO cost100100%40
Skin in the game——65
Dilution5034%60
Stable leadership4019%70
Clean books100100%100

Closest peers

Others in Consumer Staples Merchandise Retail, by management score. Costco is 7th of 33 in its sector.

  1. 37WMTWalmart83
  2. 70PEPPepsiCo78
  3. 71COSTCostco78
  4. 259DGDollar General64
  5. 291TGTTarget Corporation62
  6. 334DLTRDollar Tree59

Pay versus performance

From the proxy statement filed December 4, 2025. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.

CEO pay by fiscal yearAs reported Actually paid
$0$14.7m$29.4m20212022202320242025
What $100 becameCompany Peer group
$10020212022202320242025$294
Fiscal yearCEOCEO payActually paidOther executives (avg)$100 becamePeersNet income
2025Ron M. Vachris$13.9m$15.6m$6.3m$294$173$8.1bn
2024Ron M. Vachris, W. Craig Jelinek$16.0m$29.4m$8.4m$276$155$7.4bn
2023W. Craig Jelinek$16.9m$18.7m$6.3m$164$129$6.3bn
2022W. Craig Jelinek$9.9m$11.9m$5.8m$159$128$5.8bn
2021W. Craig Jelinek$8.8m$10.3m$4.7m$134$185$5.0bn

The board says pay is tied most to Net Sales Adjusted for Changes in Foreign Currencies. Its other key measures: Income Before Income Taxes Adjusted for Changes in Foreign Currencies.

Insiders and the CEO's stake

4 insiders sold $4.6m in the last six months and none bought.

  • SoldClaudine AdamoExecutive Vice President$2.0mSep 29, 2026
  • SoldWilliam Richard WilcoxExecutive Vice President$1.1mOct 13, 2026
  • SoldKenneth D DenmanDirector$847kJun 23, 2026
  • SoldCaton FratesSr. Executive Vice President$733kSep 29, 2026

Leadership and governance on file

Latest shareholder vote results: Jan 21, 2026, including the say-on-pay vote.

Where the money went

Over 2021–2025: $22.9bn returned to owners in buybacks and dividends, 70% of net income, and $3.8bn of pay in stock.

Fiscal year20212022202320242025
Revenue$195.9bn$227.0bn$242.3bn$254.5bn$275.2bn
Net income$5.0bn$5.8bn$6.3bn$7.4bn$8.1bn
Stock-based pay$665.0m$724.0m$774.0m$818.0m$860.0m
Buybacks$496.0m$439.0m$676.0m$700.0m$903.0m
Dividends$5.7bn$1.5bn$1.3bn$9.0bn$2.2bn
Diluted shares444m445m444m445m445m

Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.