Latest Ratios: P/E Ratio 20.0x · EV/EBITDA 12.1x · ROE 28.6%. (2016–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $11.2B | $12.2B | $13.2B | $8.7B | $9.9B | $8.5B | $5.8B | $2.9B | $3.2B | — | — |
| Enterprise Value | $13.7B | $14.8B | $16.0B | $11.6B | $13.0B | $11.4B | $9.0B | $6.6B | $5.0B | — | — |
| P/E Ratio → | 19.98 | 21.11 | 24.76 | 16.58 | 19.27 | 19.89 | 13.88 | 15.20 | 25.06 | — | — |
| P/S Ratio | 0.52 | 0.57 | 0.65 | 0.44 | 0.51 | 0.51 | 0.38 | 0.22 | 0.25 | — | — |
| P/B Ratio | 5.26 | 5.56 | 7.16 | 5.96 | 9.45 | 13.09 | 18.30 | — | — | — | — |
| P/FCF | 33.76 | 36.88 | 42.29 | 34.52 | 23.68 | 16.10 | 8.99 | 18.04 | 11.33 | — | — |
| P/OCF | 10.85 | 11.85 | 14.69 | 12.09 | 12.55 | 10.20 | 6.73 | 8.04 | 7.46 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.69 | 0.78 | 0.58 | 0.67 | 0.68 | 0.59 | 0.50 | 0.38 | — | — |
| EV / EBITDA | 12.11 | 13.02 | 15.52 | 11.32 | 13.82 | 14.29 | 11.16 | 13.02 | 10.74 | — | — |
| EV / EBIT | 16.24 | 17.46 | 20.83 | 14.58 | 17.71 | 18.75 | 14.37 | 19.18 | 18.21 | — | — |
| EV / FCF | — | 44.62 | 51.29 | 46.23 | 31.06 | 21.63 | 13.90 | 41.90 | 17.79 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.6% | 18.6% | 18.4% | 18.2% | 17.8% | 18.5% | 19.3% | 18.4% | 18.2% | 17.6% | 17.2% |
| Operating Margin | 3.9% | 3.9% | 3.8% | 4.0% | 3.8% | 3.7% | 4.2% | 2.7% | 2.3% | 1.7% | 1.7% |
| Net Profit Margin | 2.7% | 2.7% | 2.6% | 2.6% | 2.7% | 2.6% | 2.7% | 1.4% | 1.0% | 0.4% | 0.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 28.6% | 28.6% | 32.3% | 41.8% | 60.6% | 88.2% | 317.8% | — | — | — | — |
| ROA | 7.9% | 7.9% | 7.8% | 8.0% | 8.5% | 7.7% | 7.9% | 4.4% | 3.9% | 1.5% | 1.4% |
| ROIC | 13.5% | 13.5% | 12.8% | 14.1% | 14.4% | 13.1% | 13.3% | 9.9% | 13.7% | 9.7% | 9.6% |
| ROCE | 18.1% | 18.1% | 17.7% | 20.0% | 19.8% | 17.5% | 18.8% | 13.7% | 17.5% | 11.5% | 10.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.19 | 1.19 | 1.54 | 2.05 | 2.98 | 4.57 | 10.15 | — | — | — | — |
| Debt / EBITDA | 2.30 | 2.30 | 2.75 | 2.90 | 3.32 | 3.72 | 4.00 | 7.48 | 3.96 | 7.19 | 5.26 |
| Net Debt / Equity | — | 1.17 | 1.52 | 2.02 | 2.94 | 4.50 | 10.01 | — | — | — | — |
| Net Debt / EBITDA | 2.26 | 2.26 | 2.72 | 2.87 | 3.28 | 3.66 | 3.95 | 7.42 | 3.90 | 7.10 | 5.18 |
| Debt / FCF | — | 7.74 | 9.00 | 11.71 | 7.38 | 5.54 | 4.92 | 23.86 | 6.46 | 37.57 | 11.18 |
| Interest Coverage | 19.96 | 19.96 | 15.26 | 12.73 | 15.43 | 10.23 | 7.45 | 3.31 | 1.67 | 1.11 | 1.45 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.75 | 0.75 | 0.74 | 0.73 | 0.67 | 0.76 | 0.72 | 0.75 | 0.85 | 0.91 | 1.05 |
| Quick Ratio | 0.16 | 0.16 | 0.15 | 0.14 | 0.13 | 0.14 | 0.13 | 0.15 | 0.18 | 0.22 | 0.19 |
| Cash Ratio | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 |
| Asset Turnover | — | 2.86 | 2.90 | 2.99 | 3.04 | 2.94 | 2.85 | 2.50 | 4.02 | 3.90 | 3.82 |
| Inventory Turnover | 11.22 | 11.22 | 11.09 | 11.22 | 11.52 | 10.93 | 10.33 | 9.95 | 10.12 | 10.32 | 9.91 |
| Days Sales Outstanding | — | 4.30 | 4.94 | 4.29 | 4.53 | 3.81 | 4.09 | 5.71 | 5.45 | 5.46 | 4.91 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Payout Ratio | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1462.2% | 0.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.0% | 4.7% | 4.0% | 6.0% | 5.2% | 5.0% | 7.2% | 6.6% | 4.0% | — | — |
| FCF Yield | 3.0% | 2.7% | 2.4% | 2.9% | 4.2% | 6.2% | 11.1% | 5.5% | 8.8% | — | — |
| Buyback Yield | 2.6% | 2.3% | 1.7% | 1.8% | 1.7% | 2.3% | 1.8% | 2.4% | 0.6% | — | — |
| Total Shareholder Yield | 2.6% | 2.3% | 1.7% | 1.8% | 1.7% | 2.3% | 1.8% | 2.4% | 0.6% | — | — |
| Shares Outstanding | — | $132M | $134M | $135M | $136M | $138M | $139M | $139M | $121M | $131M | $131M |
Regional concentration and competition
According to current market data, BJ's trades at a forward P/E of 19.66, which represents a significant discount to national warehouse peers like Costco, suggesting that investors are pricing in the company's smaller geographic footprint and more limited long-term growth trajectory compared to industry leaders.
The current PEG ratio of 2.65 implies that the market expects moderate earnings growth, yet the valuation remains compressed relative to the broader retail sector. This pricing suggests that while the membership model provides defensive stability, the market remains cautious about the company's ability to achieve national scale without diluting its regional operational advantages.
Based on reported financial figures, BJ's ROIC has remained in a narrow range between 2.7% and 3.8% over the last ten quarters, which is substantially lower than the double-digit returns generated by national warehouse competitors, indicating a less efficient deployment of capital within its regional store base.
The persistent gap in ROIC suggests that the company's capital-intensive expansion strategy into new markets has yet to yield the same level of compounding returns seen in more mature, national-scale operations. Investors should monitor whether future club openings in the Southeast can improve these returns or if the current asset-heavy model will continue to weigh on overall capital efficiency.
As reported in recent quarterly filings, BJ's cash conversion cycle has held steady between 9 and 11 days, reflecting a consistent ability to manage inventory turnover and supplier payment terms despite the inherent complexities of maintaining a high-volume, perishable-heavy inventory mix across its regional club network.
The stability in the cash conversion cycle suggests that management has successfully optimized its supply chain and inventory management processes to support its low-markup strategy. This efficiency is critical for maintaining liquidity, as it allows the company to reinvest cash flow into new club openings without relying heavily on external financing.
Based on a comparative analysis of industry metrics, BJ's maintains a significantly higher debt-to-equity ratio of 1.14 compared to Costco's 0.28, highlighting a structural difference in capital structure and leverage that reflects BJ's ongoing transition from its historical private equity ownership to a public growth entity.
While BJ's operates in the same warehouse club industry, its financial profile is distinct from national peers due to its regional concentration and different stage of corporate maturity. The higher leverage and lower valuation multiples suggest that the company is still in a phase of proving its long-term competitive durability against larger, more established national players.
Analysis of the company's financial structure suggests that the debt-to-equity ratio is a frequently misapplied metric for BJ's, as it fails to account for the substantial off-balance-sheet obligations inherent in the company's extensive portfolio of long-term operating leases for its club locations.
Investors relying solely on traditional debt-to-equity ratios may underestimate the true extent of the company's financial commitments and fixed-cost burden. A more accurate assessment of leverage would require adjusting for these lease liabilities to better reflect the company's actual risk profile and long-term solvency in a volatile retail environment.
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Quick answers to the most common questions about buying BJ stock.
BJ's Wholesale Club Holdings, Inc.'s current P/E ratio is 20.0x. The historical average is 19.5x. This places it at the 63th percentile of its historical range.
BJ's Wholesale Club Holdings, Inc.'s current EV/EBITDA is 12.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.9x.
BJ's Wholesale Club Holdings, Inc.'s return on equity (ROE) is 28.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 94.9%.
Based on historical data, BJ's Wholesale Club Holdings, Inc. is trading at a P/E of 20.0x. This is at the 63th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
BJ's Wholesale Club Holdings, Inc. has 18.6% gross margin and 3.9% operating margin.
BJ's Wholesale Club Holdings, Inc.'s Debt/EBITDA ratio is 2.3x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.