BJ's Wholesale Club vs PriceSmart
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The short version
- BJ's Wholesale Club is the larger business, with $21.5B of revenue in fiscal 2025 against $5.3B for PriceSmart, about 4.1 times as much.
- PriceSmart grew revenue faster (7.3%, against 4.7%).
- PriceSmart kept more of each dollar of sales as operating profit (4.4% operating margin, against 3.8%).
- BJ's Wholesale Club earned a higher return on the capital invested in it (23.7%, against 15.4%).
- Investors pay more for each dollar of PriceSmart’s earnings: a P/E of 32.8x against 23.2x for BJ's Wholesale Club.
| Latest fiscal year | BJ · FY25 | PSMT · FY25 |
|---|---|---|
| Size | ||
| Market cap | $13.5B | $5.2B |
| Revenue | $21.5B | $5.3B |
| Free cash flow | $328M | $103M |
| Net income | $578M | $148M |
| Growth | ||
| Revenue growth | 4.7% | 7.3% |
| 5-year growth | 6.8% | 9.6% |
| Share count change | −1.2% | 0.1% |
| Profitability | ||
| Gross margin | 18.6% | 17.4% |
| Operating margin | 3.8% | 4.4% |
| Net margin | 2.7% | 2.8% |
| FCF margin | 1.5% | 2.0% |
| Return on capital | 23.7% | 15.4% |
| Return on equity | 28.6% | 12.5% |
| Balance sheet | ||
| Net debt | $523M | −$115M |
| Net debt / EBITDA | 0.5x | −0.4x |
| Dividends and buybacks | $287M | $45.4M |
| Valuation & quality | ||
| P/E | 23.2x | 32.8x |
| Piotroski F-score | 8 | 7 |
Revenue
FY16
BJ $12.4B
PSMT $2.9B
FY17
BJ $12.8B
PSMT $3.0B
FY18
BJ $13.0B
PSMT $3.2B
FY19
BJ $13.2B
PSMT $3.2B
FY20
BJ $15.4B
PSMT $3.3B
FY21
BJ $16.7B
PSMT $3.6B
FY22
BJ $19.3B
PSMT $4.1B
FY23
BJ $20.0B
PSMT $4.4B
FY24
BJ $20.5B
PSMT $4.9B
FY25
BJ $21.5B
PSMT $5.3B
BJ
PSMT
Operating margin
FY16
BJ 1.8%
PSMT 4.7%
FY17
BJ 1.7%
PSMT 4.6%
FY18
BJ 2.3%
PSMT 4.0%
FY19
BJ 2.7%
PSMT 3.6%
FY20
BJ 4.2%
PSMT 3.7%
FY21
BJ 3.7%
PSMT 4.4%
FY22
BJ 3.8%
PSMT 4.1%
FY23
BJ 4.0%
PSMT 4.2%
FY24
BJ 3.8%
PSMT 4.5%
FY25
BJ 3.8%
PSMT 4.4%
BJ
PSMT
Free cash flow
FY16
BJ $183M
PSMT $64.4M
FY17
BJ $72.6M
PSMT −$12.3M
FY18
BJ $281M
PSMT $21.3M
FY19
BJ $158M
PSMT $30.3M
FY20
BJ $650M
PSMT $159M
FY21
BJ $508M
PSMT $14.0M
FY22
BJ $390M
PSMT $1.2M
FY23
BJ $252M
PSMT $115M
FY24
BJ $313M
PSMT $39.0M
FY25
BJ $328M
PSMT $103M
BJ
PSMT
Return on capital
FY16
BJ —
PSMT 17.5%
FY17
BJ —
PSMT —
FY18
BJ 17.3%
PSMT —
FY19
BJ 17.0%
PSMT 10.1%
FY20
BJ 32.2%
PSMT 11.3%
FY21
BJ 34.2%
PSMT —
FY22
BJ 33.8%
PSMT —
FY23
BJ 28.1%
PSMT 13.1%
FY24
BJ 24.9%
PSMT 11.3%
FY25
BJ 23.7%
PSMT 15.4%
BJ
PSMT
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.