CostCo Valuation.xlsx

	A	B	F	G	H	I	J	K	L	M	N	O
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2	x	CostCo ($COST) Valuation
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4		Ticker	COST
5		Recent Fiscal Year End	9/3/2023
6		End of Fist Fical Year	9/3/2024
7		Valuation Date	7/19/2026
8		Stub Period	187.8%
9		Latest Share Outstanding	442,740,572
10		Scenario	Base Case
11		Mid-Year Convention	No
12		Share Price as of Analysis	$ 593.45
13		DCF Derived Share Price	$ 574.39
14		Analysis	Overvalued
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16	x	Multiples	FY2024	FY2025	FY2026	FY2027	FY2028	FY2029	FY2030	FY2031	FY2032	FY2033
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18		EV/EBITDA	22.5 X	19.8 X	17.9 X	16.1 X	14.5 X	13.1 X	11.7 X	10.4 X	9.3 X	8.3 X
19		EV/Revenue	1.0 X	0.9 X	0.8 X	0.8 X	0.7 X	0.6 X	0.6 X	0.5 X	0.5 X	0.4 X
20		EV/EBIT	28.5 X	25.3 X	23.4 X	21.5 X	19.7 X	18.0 X	16.4 X	14.9 X	13.5 X	12.3 X
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