Costco delivered a resilient QQ4 2025 that blends revenue growth with margin discipline and strong cash generation. Revenue reached $86.156 billion, up 8.1% year over year and up 36.3% quarter over quarter, reflecting seasonality, strong member activity, and ongoing pricing/assortment benefits. Gross profit totaled $11.119 billion with a gross margin of approximately 12.9%, while operating income was $3.341 billion and net income stood at $2.61 billion, yielding a net profit margin around 3.03% and an EPS of $5.88. The company generated operating cash flow of $3.867 billion and free cash flow of about $1.901 billion, ending the period with $14.161 billion in cash and cash equivalents and a net cash position of roughly $11.701 billion after debt and financing activity. The balance sheet remains robust, with total assets near $77.1 billion and strong liquidity, supporting capital-allocation priorities including buybacks and dividends. Management commentary continues to emphasize disciplined pricing, member retention, and selective investment to drive sustainable membership growth, online penetration, and private-label expansion. Given these dynamics, Costco is positioned to sustain margin resilience and cash generation, even as it navigates macro headwinds and competitive pressures in the discount channel.