BJ NYSE Russell 1000 Earnings call
BJ's Wholesale Club (BJ) · Q4 2026 results and valuation
Share price: $110.71 · 2026-11-11
Results Q4 2026 vs Q3 2026 · previous quarter · published 5 Mar 2026 and 21 Nov 2025
Management sounded cautious, though noticeably more positive answering analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
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No financial figures for this pair
Outlook given
2 · How management spoke
Cautious
Among the least upbeat of all company calls
Answers to analysts: very upbeat, and more positive than the script.
Last call it was different: script and answers matched.
3 · What stood out
Figure
The company set a daily record for gas volume that was 20% higher in the days leading up to the storm.
Valuation
Is BJ's Wholesale Club undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2026-01-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 3.6% growth a year (3-year revenue growth), the model's fair value is $28.58 a share — the stock trades 287% above it. Today's price assumes 19.2% growth a year.
Current price
$110.71
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+19.2% for 10 yrs
Fair value / share
$28.58
Buy below
$21.43
Price vs fair value
Overvalued >200%
Price vs buy-below price
Overvalued >200%
Management expects
Sales +2.5% · from the Q4 2026 report: “Fiscal 2026 guidance expects comparable sales excluding gas to grow 2% to 3% and adjusted EPS of $4.40 to $4.60.”
A guidance figure for sales, usually one year ahead, not a 10-year free-cash-flow rate.
Read between the lines
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Guidance
Record profits reflect a strong underlying model and disciplined execution that raised long-term value for both members and shareholders.
Source quote
“Ultimately, these achievements helped drive record full-year earnings per share, reflecting the strength of our model and disciplined execution across... All of these are material accomplishments that create a structurally higher lifetime value for both members and shareholders. As always, our team demonstrated an incredible commitment to our purpose: to take care of the families that depend on us.”
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Key theme
Supply chain and merchandising improvements kept inventory healthy and made operations more efficient for members this quarter.
Source quote
“Let me first congratulate our supply chain team and our merchandising team for another great performance this quarter, where although total... Our inventory is in great shape. The team continues to do a great job getting better and more efficient for our members.”
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Guidance
Fiscal 2026 guidance expects comparable sales excluding gas to grow 2% to 3% and adjusted EPS of $4.40 to $4.60.
Source quote
“Looking ahead to fiscal 2026, we expect comparable sales excluding gas to grow 2% to 3%, and we are guiding to adjusted EPS of $4.40 to $4.60.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q4 2026. Ring: Q3 2026.
Management was more positive answering analysts than in its script — usually a sign it was comfortable with the details it was asked about.
Sentences that drove the tone
“Just going back to inventory, I know last year your team planned conservatively on the discretionary front, just given some of the tariff headwinds and uncertainty out there.”
“You remember that for us, general merchandise is slightly lower margin than some of the other parts of our business, and within general merchandise, consumer electronics tends to be the...”
“Comparable gallons were up 0.1%, significantly better than the low‑single‑digit declines seen elsewhere.”
Topics
Most discussed now
- BJ's Wholesale Club also advanced its digital capabilities, with digitally enabled sales penetration reaching 16% as more members embraced…
- Excluding gas, merchandise comparable sales increased 2.6%, and BJ's Wholesale Club was pleased to see growth in both traffic and units.
- Membership fee income rose 10.9% to roughly $129,800,000, supported by healthy acquisition and retention trends across the chain as well...
- BJ's Wholesale Club has driven digital penetration from 9% to 16%, generated $3,300,000,000 in adjusted EBITDA, and produced more than…
- On top of this capital investment, BJ's Wholesale Club paid down well over $300,000,000 of debt, bringing its net debt ratio down...
Faded since Q3 2026
- Fading Once again, BJ's Wholesale Club gained share and grew traffic marking the twelfth consecutive quarter of market share growth and the…
- Fading BJ's Wholesale Club's business delivered strong results in Q3 and performed well in an incredibly dynamic environment.
- Fading BJ's Wholesale Club is rolling out reduced delivery fees to make its most convenient shopping channel even more accessible.
- Fading BJ's Wholesale Club's third quarter comp in its Grocery, Perishables and Sundry division grew 1.8% year over year with a two-year stack...
Latest announcements
Official filings, newest first.
- Other events · SEC 8-K
- Results of operations; Director or officer change · SEC 8-K
- Shareholder vote results · SEC 8-K
- Results of operations · SEC 8-K
- Results of operations · SEC 8-K
- Results of operations · SEC 8-K
- Results of operations · SEC 8-K
- Articles or bylaws amended; Shareholder vote results · SEC 8-K