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Is Costco Stock Too Expensive?

TheMotleyFool

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Is Costco Stock Too Expensive?: https://g.foolcdn.com/editorial/images/712490/shopping-bulk-store.jpg

Costco Wholesale (NASDAQ: COST) recently reported its fiscal 2023 first-quarter (ended Nov. 20) financial results, posting net sales of $53.4 billion, good for an 8.1% year-over-year increase. Earnings per share of $3.07 also showed a slight uptick from the same period last year.

Despite these relatively positive results, Costco missed Wall Street analyst estimates. And the stock is down more than 14% in 2022.

But with a current price-to-earnings (P/E) ratio of 37, are Costco shares currently overvalued? Let's take a closer look at the business and its prospects to find the answer.

Source Fool.com

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