BJ BJ's Wholesale Club Holdings, Inc.

Overview and Growth

In fiscal 2025, BJ's Wholesale Club Holdings, Inc. recorded $21.46B of revenue, net income of $578.38M, and an operating cash inflow of $1.03B. At $21.46B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $20.50B in fiscal 2024, revenue recorded a 4.7% year-over-year increase. Diluted earnings per share were $4.38, translating the period’s attributable earnings into the amount reported for each diluted share. The per-share result recorded a 9.5% increase from fiscal 2024 diluted EPS of $4.00. The revenue-to-assets relationship was 2.86x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Gross profit was $4.00B, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross margin was 18.6%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operating income was $816.60M, the earnings remaining from reported operations after the company’s recognized operating cost structure. Relative to revenue, operating income represented 3.8%, showing how efficiently sales converted into operating profit. After all reported below-operating-line items, the company recorded net income of $578.38M for the fiscal year. Measured against reported revenue, net income produced a 2.7% margin after operating costs and the remaining recognized items. The earnings statement records $774.21M of pretax income, the profit base against which the reported tax provision can be assessed. Measured against revenue, pretax income equaled 3.6%, adding a pre-tax profitability layer between revenue and net income. The reported income-tax provision was $195.83M, the amount recognized between pretax income and the final net-income result. The effective relationship between income tax and positive pretax income was 25.3%, without assuming a statutory-rate comparison.

Liquidity and Capital Structure

Total assets were $7.51B, supported by $5.31B of liabilities and $2.20B of shareholder equity. The near-term balance sheet paired $1.99B of current assets with $2.67B of current liabilities at the reporting date. At 0.75x, current liabilities exceeded current assets and placed pressure on the company’s near-term liquidity position. Reported cash and equivalents were $46.24M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 1.7%, excluding receivables and other current assets. Borrowings totaled $519.10M, adding a fixed financing obligation alongside the company’s equity capital. Debt equaled 0.24x of book equity, describing the relative scale of borrowing and shareholder capital. Relative to total assets, debt measured 6.9%, showing how much of the asset base was matched by borrowing. Liabilities represented 70.7% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 0.6%, comparing reported cash and equivalents with the full positive asset balance. Compared with $7.07B in fiscal 2024, the current asset base moved 6.3% and finished higher.

Cash Flow and Earnings Quality

The company reported $1.03B of operating cash flow, a cash inflow that shows the cash generated by operations. Operating cash flow equaled 1.78x of net income, showing how strongly accounting earnings converted into cash from operations. Capital spending was $702.05M, absorbing part of the cash generated from operations before free cash flow. Capital spending absorbed 68.2% of operating cash flow, quantifying the share of cash from operations directed to investment. Free cash flow came to $328.01M, leaving a positive amount after capital expenditures. The free-cash-flow margin was 1.5%, measuring cash remaining after capital spending against revenue. Measured against total assets, free cash flow represented 4.4%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Jan 31, 2026. Analysis generated Oct 21, 2026.