BJ's Wholesale Club Holdings, Inc. BJ
BJ's Wholesale Club is a leading operator of membership warehouse clubs concentrated primarily in the eastern half of the United States. We deliver significant value to our members, consistently offering up to 25% savings on a representative basket of manufacturer-branded groceries compared to traditional supermarket competitors. We provide a curated assortment focused on groceries, fresh foods, general merchandise, gasoline, and other ancillary services to deliver a differentiated shopping experience that is further enhanced by our digital capabilities. Additionally, we provide access to coupons and promotions to deliver further value to our members.
Since pioneering the warehouse club model in New England in 1984, we have grown our footprint to 263 large-format, high volume warehouse clubs and 199 gas stations spanning 21 states as of fiscal year end 2025. In our originating New England market, which has high population density and generates a disproportionate part of U.S. gross domestic product ("GDP"), we operate nearly three times the number of clubs compared to the next largest warehouse club competitor. In addition to shopping in our clubs, members are able to shop when and how they want through our website, bjs.com, and our highly rated mobile app, which allows them to use our buy-online-pickup-in-club ("BOPIC") service, curbside delivery, same-day delivery or traditional ship-to-home service, as well as through the DoorDash and Instacart marketplaces. We also offer Same-Day Select, which offers BJ's members the ability to pay a one-time fee for unlimited same-day deliveries over a one-year period. Additionally, members may use ExpressPay® to skip checkout lines when they shop in club and pay via their mobile devices.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.46B | $20.50B | $19.97B | $19.32B | $16.67B | $15.43B | $13.19B | $13.01B | $12.75B | $12.35B |
| Cost of revenue | $17.46B | $16.74B | $16.33B | $15.88B | $13.59B | $12.45B | $10.76B | $10.65B | $10.51B | $10.22B |
| Gross profit | $4.00B | $3.76B | $3.64B | $3.43B | $3.08B | $2.98B | $2.43B | $2.36B | $2.24B | $2.13B |
| SG&A | $3.15B | $2.96B | $2.82B | $2.67B | $2.45B | $2.33B | $2.06B | $2.05B | $2.02B | $1.91B |
| Operating income | $816.6M | $772.2M | $800.4M | $738.0M | $617.3M | $642.4M | $352.2M | $303.5M | $220.3M | $216.0M |
| Interest expense | — | — | — | — | — | $5.1M | — | — | — | — |
| Pre-tax income | $774.2M | $720.8M | $735.9M | $690.5M | $557.9M | $558.0M | $244.0M | $138.9M | $23.5M | $72.7M |
| Income tax | $195.8M | $186.4M | $212.2M | $176.3M | $131.1M | $136.8M | $56.2M | $11.8M | $28.4M | $28.0M |
| Net income | $578.0M | $534.0M | $524.0M | $513.0M | $427.0M | $421.0M | $187.2M | $127.3M | $50.3M | $44.2M |
| EPS, basic | 4.41 | 4.04 | 3.94 | 3.83 | 3.15 | 3.09 | 1.37 | 1.09 | 0.57 | 0.50 |
| EPS, diluted | 4.38 | 4.00 | 3.88 | 3.76 | 3.09 | 3.03 | 1.35 | 1.05 | 0.54 | 0.48 |
| Shares, diluted (wtd. avg.) | $132.1M | $133.6M | $135.1M | $136.5M | $138.0M | $138.9M | $139.1M | $121.1M | $92.3M | $90.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $46.2M | $28.3M | $36.0M | $33.9M | $45.4M | $43.5M | $30.2M | $27.1M | $35.0M | $32.0M |
| Receivables | $252.8M | $277.3M | $234.8M | $239.7M | $174.0M | $172.7M | $206.4M | $194.3M | $190.8M | — |
| Inventory | $1.56B | $1.51B | $1.45B | $1.38B | $1.24B | $1.21B | $1.08B | $1.05B | $1.02B | — |
| Total current assets | $1.99B | $1.88B | $1.79B | $1.70B | $1.52B | $1.47B | $1.36B | $1.34B | $1.34B | — |
| Property, plant and equipment | $2.36B | $1.90B | $1.58B | $1.34B | — | $797.8M | $760.2M | $748.8M | $758.8M | — |
| Goodwill | $1.01B | $1.01B | $1.01B | $1.01B | $924.1M | $924.1M | $924.1M | $924.1M | $924.1M | — |
| Other intangibles | $95.5M | $101.1M | $107.6M | $115.5M | $124.6M | $135.1M | $147.0M | $200.9M | $224.9M | — |
| Total assets | $7.51B | $7.07B | $6.68B | $6.35B | $5.67B | $5.41B | $5.27B | $3.24B | $3.27B | — |
| Accounts payable | $1.31B | $1.25B | $1.18B | $1.20B | $1.11B | $988.1M | $786.4M | $816.9M | $751.9M | — |
| Short-term debt | $120.0M | $175.0M | $319.0M | $405.0M | $0 | $260.0M | $343.4M | $254.4M | $219.8M | — |
| Total current liabilities | $2.67B | $2.53B | $2.47B | $2.55B | $2.00B | $2.03B | $1.80B | $1.58B | $1.47B | — |
| Long-term debt | $399.1M | $398.8M | $398.4M | $447.9M | $748.6M | $846.2M | $1.34B | $1.55B | $2.49B | — |
| Total liabilities | $5.31B | $5.22B | — | — | — | — | — | — | — | — |
| Retained earnings | $1.20B | $1.70B | $1.17B | $644.5M | $131.3M | -$295.3M | -$716.4M | -$915.1M | -$1.04B | — |
| Total equity | $2.20B | $1.85B | $1.46B | $1.05B | $648.1M | $319.3M | -$54.3M | -$202.1M | -$1.03B | -$347.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.03B | $900.9M | $718.9M | $788.2M | $831.7M | $868.5M | $355.1M | $427.1M | $210.1M | $297.4M |
| Depreciation and amortisation | $282.9M | $255.5M | $219.8M | $191.7M | $170.1M | $155.6M | $143.5M | $140.4M | $138.0M | $149.5M |
| Stock-based compensation | $47.2M | $47.8M | $39.0M | $42.6M | $53.8M | $32.1M | $18.8M | $57.7M | $9.1M | $11.8M |
| Capital expenditure | $702.0M | $588.0M | $467.1M | $397.8M | $323.6M | $218.3M | $196.9M | $145.9M | $137.5M | $114.8M |
| Investing cash flow | -$702.3M | -$589.6M | -$454.8M | -$747.1M | -$304.5M | -$192.4M | -$175.3M | -$145.9M | -$137.5M | -$114.8M |
| Financing cash flow | -$309.7M | -$319.1M | -$262.0M | -$52.6M | -$525.2M | -$662.8M | -$176.8M | -$289.0M | -$69.6M | -$188.1M |
| Dividends paid | — | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $735.5M | $735.5M |
| Buybacks | $286.8M | $219.6M | $155.2M | $172.3M | $194.3M | $106.2M | $67.3M | $19.1M | $2.0M | $1.4M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-019305.
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