Bj's Wholesale Club Holdings, Inc. key statistics and ratios

In fiscal 2026, Bj's Wholesale Club Holdings, Inc. had return on equity of 28.6%, an operating margin of 3.8%, debt equal to 23.6% of equity and a current ratio of 0.75. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Bj's Wholesale Club Holdings, Inc.: financial ratios, annual
Fiscal year	2017Jan 2017	2018Feb 2018	2019Feb 2019	2020Feb 2020	2021Jan 2021	2022Jan 2022	2023Jan 2023	2024Feb 2024	2025Feb 2025	2026Jan 2026	LTMAug 2026
Gross margin	17.2%	17.6%	18.2%	18.4%	19.3%	18.5%	17.8%	18.2%	18.4%	18.6%	18.2%
Operating margin	1.7%	1.7%	2.3%	2.7%	4.2%	3.7%	3.8%	4.0%	3.8%	3.8%	3.8%
Net margin	0.4%	0.4%	1.0%	1.4%	2.7%	2.6%	2.7%	2.6%	2.6%	2.7%	2.6%
Free-cash-flow margin	1.5%	0.6%	2.2%	1.2%	4.2%	3.0%	2.0%	1.3%	1.5%	1.5%	1.6%
Return on equity	—	—	—	—	—	88.2%	60.6%	41.8%	32.3%	28.6%	27.1%
Return on assets	—	1.5%	3.9%	4.4%	7.9%	7.7%	8.5%	8.0%	7.8%	7.9%	7.7%
Asset turnover	—	3.90	3.99	3.10	2.89	3.01	3.21	3.07	2.98	2.94	2.94
Current ratio	—	0.91	0.85	0.76	0.72	0.76	0.67	0.73	0.74	0.75	0.73
Debt to equity	—	—	—	—	346.4%	115.5%	81.5%	49.2%	31.1%	23.6%	28.7%
Interest cover (operating income ÷ interest)	1.8x	1.3x	2.4x	3.6x	9.9x	13.7x	19.7x	13.8x	18.1x	25.6x	—
Effective tax rate	38.5%	—	8.5%	23.0%	24.5%	23.5%	25.5%	28.8%	25.9%	25.3%	26.6%
SG&A as % of revenue	15.5%	15.8%	15.8%	15.6%	15.1%	14.7%	13.8%	14.1%	14.5%	14.7%	14.3%
Capital spending as % of revenue	0.9%	1.1%	1.1%	1.5%	1.4%	1.9%	2.1%	2.3%	2.9%	3.3%	3.3%
Free cash flow ÷ net income	413.1%	144.4%	221.0%	84.5%	154.4%	119.1%	76.1%	48.1%	58.5%	56.7%	60.3%
Dividends ÷ net income	0.1%	>999%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—
Dividends and buybacks ÷ free cash flow	0.8%	>999%	6.8%	42.5%	16.3%	38.3%	44.1%	61.6%	70.2%	87.4%	154.3%

US$ thousands unless shown otherwise. Fiscal quarters.

Bj's Wholesale Club Holdings, Inc.: financial ratios, quarterly
Quarter	2025 Q3Nov 2024	2025 Q4Feb 2025	2026 Q1May 2025	2026 Q2Aug 2025	2026 Q3Nov 2025	2026 Q4Jan 2026	2027 Q1May 2026	2027 Q2Aug 2026
Gross margin	19.1%	18.0%	18.8%	18.7%	19.0%	18.1%	18.2%	17.8%
Operating margin	4.5%	3.4%	4.0%	4.0%	4.1%	3.2%	3.7%	4.1%
Net margin	3.1%	2.3%	2.9%	2.8%	2.8%	2.3%	2.5%	2.8%
Free-cash-flow margin	0.4%	2.1%	1.3%	1.6%	−0.3%	3.4%	−0.7%	3.6%
Current ratio	0.76	0.74	0.77	0.79	0.79	0.75	0.73	0.73
Debt to equity	36.5%	31.1%	27.8%	24.0%	27.6%	23.6%	36.4%	28.6%
SG&A as % of revenue	14.4%	14.4%	14.8%	14.6%	14.7%	14.7%	14.2%	13.7%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 6 checks passed · August 1, 2026

What it owns · $8.0bn

Short-term assets $2.2bnLonger-term assets $5.8bn

What it owes, and who funded it · $8.0bn

Short-term liabilities $3.0bnLonger-term liabilities $2.8bnShareholders' equity $2.2bn

Short-term assets cover short-term liabilities $2.2bn of assets due within a year against $3.0bn of liabilities due within a year.
Short-term assets cover long-term liabilities $2.2bn short-term assets against $2.8bn of longer-dated liabilities.
More cash than debt $30m of cash against $629m of debt.
Debt below 40% of shareholders' equity Debt is 29% of equity.
Debt burden no higher than five years ago Debt to equity moved from 116% to 29% over five years.
A year's operating cash flow covers at least 20% of debt $1.1bn of operating cash flow against $629m of debt.
Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Bj's Wholesale Club Holdings, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

53 /100

Moderate moat

How hard Bj's Wholesale Club Holdings's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 12 / 20

Cash operating profit has been a median 10.0% of total assets over 9 years.
Pricing power 8 / 20

Gross margin has been a median 18.3%, moving by 0.4 percentage points (standard deviation) across 9 years.
Durability 8 / 20

Operating margin has been a median 3.8%; its worst year was 2.1%.
Cash conversion 11 / 20

Free cash flow was positive in 9 of 9 years, at a median 1.9% of revenue.
Discipline 19 / 20

The diluted share count fell 6.2% over five years; stock-based pay has been a median 0.2% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (58 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Bj's Wholesale Club Holdings, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Bj's Wholesale Club Holdings, Inc.