Is the business good?
How good a business is BJ?
BJ's Wholesale Club Holdings, Inc. earns 23% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
23%
Return on invested capital · cost of capital 9.0% · 14 points above what the capital costs: growth creates value
- Operating margin
- 3.7%
Operating margin · Discount Stores median 4.5% · 12 months to Q1 2026
- Cash conversion
- 0.38×
Cash conversion · 0.50× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- −2.5%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 4.2% |
| FY2021 | 3.7% |
| FY2022 | 3.8% |
| FY2023 | 4.0% |
| FY2024 | 3.8% |
| FY2025 | 3.8% |
Details›
- Gross margin12 months to Q1 2026
- 18%
- Operating margin12 months to Q1 2026
- 3.7%
- Net margin12 months to Q1 2026
- 2.6%
- Free cash flow margin
- 0.99%
- Revenue, trailing twelve months
- $22.0B
- Free cash flow, trailing twelve months
- $218M
- Net income, trailing twelve months
- $571M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 23%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.