Costco’s moat is intangible; it’s a prepaid subscription business growing 10%+ with sub-10% churn, throwing off ~$1B a year. Click here to read my analysis.
Costco Q3 Earnings: The Flywheel Is Spinning
Jack Bowman
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Summary
The last eight Seeking Alpha calls on Costco were holds or sells. Quant hasn’t budged off “hold” in three years. But I’m still bullish.
A 53x forward P/E on… [2743 chars]
Source: Seeking Alpha | Published: 2026-05-29T11:30:00Z
Credit: Seeking Alpha
