Market Valuation: $215 Billion
Ironbound Buy-Side Valuation: $205 Billion
Ironbound Assessment: Seattle Washington based Costco, founded in 1983, is an American multinational corporation that operates membership-only retail warehouses and e-commerce websites. Our upside valuation is $300 Billion or 1.5-times the $200 Billion in average sales reported between 2020 and 2022. We believe Costco’s true competitive advantage is rooted in their code of ethics: management must “Take Care of Our Employees” so that employees reciprocate and “Take Care of Our Members.” Combining this simple rule with their effective strategy of only selling high-quality merchandise at the lowest possible price, has made Costco the most productive in the retail industry. Their superb and efficient service has created some of the most loyal customers, churning year-over-year double-digit sales growth. As a result, Costco is forecasted to reach $1 Trillion in sales by their 50th birthday in 2033.
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