COST ($COST) has traded flat over the past two years due to an elevated valuation, reaching a blended P/E ratio of 54x in 2024 compared to its normal historical P/E of 30x. While EPS grew 10% in FY 25 and 13% in FY 26, the stock currently trades at a blended P/E of roughly 43.87x to 44x—representing a continued 50% premium over its historical average.