BJ's Wholesale Club Holdings, Inc. (BJ) Stock

BJ's Wholesale Club Holdings, Inc. (BJ) is a Consumer Discretionary stock trading at $91.08 (as of 2026-08-20), with a market capitalization of $11.63B and a trailing P/E of 19.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

BJ’s Wholesale Club Holdings, Inc., together with its subsidiaries, operates warehouse clubs in the eastern United States and provides perishable and general merchandise, gasoline, and related ancillary services. Products are sold through its websites and mobile app, serving customers across its club network and gas locations.

Understand BJ's Wholesale Club Holdings, Inc.: how it makes money

BJ's Wholesale Club operates warehouse clubs on the east coast of the United States, selling perishable and general merchandise, gasoline, and other ancillary services, and it makes money primarily from net sales plus a smaller stream of membership fee revenue (also selling through BJs.com and other sites and its mobile app).

BJ's profit model combines high-volume merchandise revenue (net sales) with membership fee revenue, and the business needs to hold gross margin and keep operating costs low to translate revenue into a thin operating margin.

Revenue by segment (latest quarter)
Net sales	$5.5B
Membership fees	$0.1B

Business quality (Mixed): Segment-like revenue categories are provided, but no operating KPIs are included here, so the operating engine must be inferred from margins and the two revenue streams.

Valuation: At 20× earnings, BJ trades in line with the Retail average (19×). Note: one-time items can distort reported P/E.

Bull case

Warehouse club scale with add-on services: As of June 10, 2022, BJ's operated 229 warehouse clubs and 160 gas locations in 17 states, which supports a broad in-store assortment plus gasoline as an ancillary service.
Multiple ways to shop: BJ's sells products through its websites (BJs.com, BerkleyJensen.com, Wellsleyfarms.com, Delivery.bjs.com) and its mobile app.
Two revenue streams: The company reports both net sales and Membership Fee Revenue, so membership fees contribute as a separate revenue component.

Bear case

Thin operating profitability: For the period shown (2026-05-02), gross margin is 18.2% and operating margin is 3.7%, which indicates limited room for cost increases or margin pressure.
Membership fees appear relatively small versus merchandise sales: In the provided revenue categories, net sales are 5.53B and Membership Fee Revenue is 0.09B, so the business mix suggests membership fees may be less able to offset problems in merchandise performance.

Valuation — source: SEC EDGAR (first-party)
Price	$91.08
Market Cap	$11.63B
P/E Ratio	19.5
EV / EBITDA	9.2
Price / Book	5.47
Price / Sales	0.54
FCF Yield	2.7%
DCF Value (model)	$113.31
DCF Upside vs Price	24.4%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$21.46B
Net Margin	2.7%
Revenue Growth (YoY)	4.7%
EPS Growth (YoY)	9.2%
FCF Growth (YoY)	4.8%

Financial Health — source: SEC EDGAR
Altman Z-Score	4.66 (safe)
Piotroski F-Score	8/9 (strong)

Valuation vs Sector & Industry
Stock P/E	19.5
Sector P/E (Consumer Discretionary)	20.5
Industry P/E (Retail)	19.5
vs Sector	-4.6%
vs Industry	0.1%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($1.22B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Consumer Discretionary
Industry	Retail
CEO	Robert W. Eddy
Employees	33,000
Country	US
IPO Date	2018-06-28

Related Companies (Business model: Brick-and-Mortar Retail (incl. Omnichannel); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.