• In early February 2026, Costco Wholesale reported January net sales of US$21.33 billion, up 9.3% year over year, and year-to-date sales of US$123.16 billion, up 8.5%, while also extending its Instacart-powered same-day delivery service to members in France and Spain.
• These results highlight how Costco’s membership model and expanding international partnerships are reinforcing its ability to grow scale while maintaining its low-price promise.
• With this combination of strong quarterly performance and Instacart expansion into Europe, we’ll explore how Costco’s investment narrative is evolving.

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What Is Costco Wholesale's Investment Narrative?

To own Costco today, you really need to believe in the durability of its membership engine and its ability to keep deep value and quality at the center of everything, even as it leans more into digital and international growth. January’s US$21.33 billion in sales, up 9.3% year over year, together with year to date sales of US$123.16 billion, extend the story of steady execution, but the Instacart rollout in France and Spain matters more for near term catalysts than for immediate financial impact. It reinforces the idea that Costco can layer ecommerce convenience onto its warehouse model without abandoning its low price promise. The flip side is that expectations are already high, with the shares trading at a premium multiple and significant insider selling in recent months adding another angle investors cannot ignore.

However, that premium price tag and recent insider selling are things investors should not overlook. Costco Wholesale's shares are on the way up, but they could be overextended by 27%. Uncover the fair value now.

Exploring Other Perspectives

The 27 fair value estimates from the Simply Wall St Community span roughly US$726 to US$1,205, underlining how widely opinions differ on Costco’s worth. Set against the recent sales acceleration and expanding Instacart partnership in Europe, this spread invites you to weigh how much growth and execution certainty you are really pricing in.

Explore 27 other fair value estimates on Costco Wholesale - why the stock might be worth as much as 21% more than the current price!

Build Your Own Costco Wholesale Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Costco Wholesale research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.
• Our free Costco Wholesale research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Costco Wholesale's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.