Costco Revenue By Country — U.S., Canada, and International

Grocery stores. Pexels Images.

This article outlines the distribution of Costco’s revenue across various countries and regions. Costco generates its revenue from several key areas, including the United States, Canada, and other international regions.

The bulk of Costco’s revenue originates from the United States, followed by Canada as the second-largest contributor. The remaining revenue comes from other international operations.

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For other key statistics of Costco, you may find more resources on this page: Costco key stats.

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Definitions

To help readers understand the content better, the following terms and glossaries have been provided.

Reportable Segments: Costco primarily operates membership warehouses through its wholly owned subsidiaries located in the U.S., Canada, Mexico, Japan, the U.K., Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden.

The management organizes reportable segments based on operational decisions and financial performance assessments, which take into account geographic locations.

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Why is Costco generating the majority of its revenue from the U.S.?

Costco generates the majority of its revenue from the U.S. for several reasons:

• Market Presence: Costco has a significant number of its warehouses located in the United States. This extensive presence allows it to reach a large customer base.
• Customer Base: The U.S. has a substantial population that fits Costco’s target demographic, which includes individuals and families looking for bulk purchases and discounted prices.


• Membership Model: Costco’s membership model is highly popular in the U.S., with many customers willing to pay annual fees for access to Costco’s warehouses and the benefits that come with membership.
• Brand Loyalty: Costco has built a strong brand reputation in the U.S., leading to high customer loyalty and repeat business.
• Economic Factors: The economic environment in the U.S. supports consumer spending, which benefits retailers like Costco.

These factors combined contribute to Costco’s strong revenue generation in the U.S. compared to other regions.

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Insight & Summary of Costco’s Regional Revenue

The following analysis consolidates the trends observed across Costco’s regional revenue for the 2016–2025 period.

• Costco’s geographic revenue profile reflects a highly entrenched domestic dominance coupled with strategic, high-yield international expansion.

• The United States market remains the undisputed anchor of the enterprise, generating an average of $186,940 million over the latest three periods and consistently commanding a 72.7% share of total revenue.

• While U.S. growth normalized to a healthy 6.6% average during this time, it provides the massive scale necessary to fund capital-intensive global investments.

• Internationally, a notable inversion has occurred within the portfolio. The “International” segment (excluding Canada) has structurally surpassed Canada as the secondary revenue engine, averaging $35,435 million compared to Canada’s $34,951 million over the last three years.

• This shift is driven by a field-leading average growth rate of 8.5% in the International segment, significantly outpacing both the U.S. and the mature Canadian market (5.3%).

• As Costco continues to saturate North America, this accelerating overseas momentum — now representing 13.8% of the revenue mix — validates the portability of its warehouse club model and signals a robust long-term growth frontier for the business.

The table below combines all Costco’s regional revenue metrics into a single view for the latest three fiscal years.

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U.S., Canada, and International – Revenue breakdown

Costco’s reportable segments consist of the U.S., Canada, and Other International regions. The definitions of the company’s reportable segments are available here: reportable segments.

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U.S., Canada, and International – Revenue mix

Costco’s reportable segments consist of the U.S., Canada, and Other International regions. The definitions of the company’s reportable segments are available here: reportable segments.

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U.S., Canada, and International – Revenue YoY growth

Costco’s reportable segments consist of the U.S., Canada, and Other International regions. The definitions of the company’s reportable segments are available here: reportable segments.

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References and Credits

1. All financial figures presented were obtained and referenced from Costco’s annual reports published on the company’s investor relations page: Costco Investor Relations.

2. Pexels Images.

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