BJ
BJ's Wholesale Club Holdings, Inc.
Consumer Discretionary • CIK: 0001531152
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Market Cap
$11.61B
P/E (TTM)
20.2x
Rev Growth (TTM)
—
Net Margin (TTM)
2.7%
FCF Yield (TTM)
2.1%
FCF Margin (TTM)
1.2%
Cash Flow Health
Free Cash Flow7/8 positive
TTM$250M
Q3 '26
$-14M-116%
Q2 '26
$84M+25%
FCF Margin
TTM1.2%
Q3 '26-0.3%-116%
Sector: 4.9%Below Avg
OCF Margin4.3%
OCF/NI1.58x
CapEx Coverage1.4x
FCF Yield2.1%
FCF Growth (2Y)–
Cash Conversion Cycle
11 days
DSO: 5+DIO: 33−DPO: 27
Capital Allocation & Returns
Growth Focused
Total Shareholder YieldTTM
TTM2.0%
Div Yield0.0%
+Buyback (TTM)2.0%
Prioritizing reinvestment over distributions
Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$249.6M
Stock Repurchases (TTM)$231.8M
Capital Return / FCF92.9%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
24.4%
P25MedianP75
75th pctl (med: 0.2%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
2.9%
Asset Turnover
2.94x
Leverage (1+D/E)
1.28x
D/E: 0.28x
DuPont: 10.8% ≈ 24.4% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
10.60x
8Q:–
Invested Cap Turn
8.48x
8Q:–
CapEx Intensity
26.5%
8Q:–
CapEx/Depreciation
2.35x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2025 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $21.2B | $5.3B↓0.6% | $5.4B↑4.4% | $5.2B↓2.4% | $5.3B↑3.5% | $5.1B↓2.0% | $5.2B↑5.8% | $4.9B↓8.2% | $5.4B |
Operating Income | $816.9M | $218.4M↑0.8% | $216.5M↑6.3% | $203.6M↑14.2% | $178.4M↓22.2% | $229.4M↑12.6% | $203.7M↑26.7% | $160.8M↓24.9% | $214.0M |
Net Income | $575.2M | $152.1M↑0.9% | $150.7M↑0.6% | $149.8M↑22.1% | $122.7M↓21.2% | $155.7M↑7.4% | $145.0M↑30.6% | $111.0M↓23.9% | $145.9M |
Operating Cash Flow | $911.0M | $181.1M↓27.5% | $249.9M↑20.1% | $208.1M↓23.5% | $271.9M↑31.5% | $206.8M↓6.6% | $221.4M↑10.2% | $200.8M↓26.8% | $274.4M |
Free Cash Flow | $249.6M | $-13.7M↓116.3% | $84.3M↑24.7% | $67.6M↓39.4% | $111.5M↑492.3% | $18.8M↓78.5% | $87.5M↓8.0% | $95.1M↓38.7% | $155.2M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
20.2x
Valuation Lenses
Earnings
20.2x
vs – sector
Cash Flow
56.6x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
0.8P/E per %ROIC
ROIC: 24.4%
Shareholder Returns
Dividend
–
Buyback
2.0%
Total Yield
2.0%
Market Cap$11.61B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
100/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Above Avg
29.2%
8Q:–
Return on Invested Capital (ROIC)Top 25%
24.4%
8Q:–
vs Sector:0.2%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 2.9%
Asset Turnover: 2.94x
Earnings Quality
Cash Conversion
1.58x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin18.6%
Capital Efficiency
Invested Capital Turnover8.48x
Working Capital
Cash Conversion Cycle11 days
Growth Quality & Momentum
Growth Rates
Revenue Growth YoY
N/A
OpInc Growth YoY
-4.8%
EPS Growth YoY
N/A
FCF 3Y CAGR
N/A
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
18.6%
Operating
3.9%
Below Avg in sector
Net
2.7%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-1.5 pts
FCF: 1.2% | Net: 2.7%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Solid
Net Debt / EBITDA
–Net Debt: $553.91M
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.28x
Balance sheet risk & solvency analysis