Costco Stock Rises on 92.2% Renewal Rate in 2026
costco stock got fresh support from a 92.2% membership renewal rate in the U.S. and Canada in fiscal Q3 2026, with worldwide renewals at 89.7%. The warehouse retailer also posted 37% growth in e-commerce site and app traffic, but its shares recently dipped after the quarter.
92.2% renewal in the U.S. and Canada points to how much of Costco Wholesale’s sales engine still runs on recurring memberships, not one-time transactions. For holders comparing Costco with Walmart and Amazon in 2026, the issue is less whether the business is stable than whether the stock’s rich valuation can keep justifying that stability.
Costco Wholesale and 89.7% worldwide
89.7% worldwide renewal is the second number investors have to weigh, because it shows the membership base outside the U.S. and Canada is still highly sticky even if it trails the domestic rate. Costco sells bulk items and its Kirkland Signature private-label brand, so the renewal figures function as a direct read on whether shoppers keep paying to stay in the system.
43.1 was Costco’s forward price-to-earnings ratio, a measure of what investors were willing to pay for future earnings. That multiple sits alongside a stock that climbed over 150% in the last five years, which helps explain why even a solid quarter did not automatically translate into a lasting stock gain.
37% Digital Traffic Growth
37% growth in e-commerce site and app traffic gave the quarter a second support point, and digitally enabled comparable sales rose 21.5% in the third quarter. Those figures show the company is pulling more activity through digital channels while still leaning on the warehouse model that made it a staple for bargain-focused shoppers.
0.6% was Costco’s dividend yield, a reminder that the stock is not built around income the way some retail peers are. Costco paid a one-time special dividend of $15 per share in 2024, but the current yield leaves shareholders relying mainly on price appreciation if the shares keep moving higher.
Walmart, Amazon, and 2026
53 consecutive years of dividend increases keeps Walmart in a different lane, and its shares were also up over 150% over the last five years. Amazon, by contrast, added new Amazon Web Service agreements with Anthropic, Meta Platforms, Nvidia, OpenAI, and Uber Technologies in its 2026 first-quarter earnings report, while saying AWS revenue rose 28% to $37.6 billion, its fastest revenue growth in 15 quarters.
For readers comparing the three names, Costco still offers the clearest read-through from loyalty to sales, but the bar for the stock is high because valuation is already stretched and the recent dip shows how little patience the market has for anything short of continued execution. If Costco keeps renewal rates near these levels and digital traffic expands again, the next test is whether that growth can support the current multiple rather than just defend it.
