BJ’S WHOLESALE CLUB HOLDINGS, INC.

BJ · Consumer Discretionary · $12.0B mkt cap · FY2026 filings · Narrow moat

On the watchlist

Narrow moat

The four filters

Pricing power35

Median gross margin 18.3% over 10y, very stable.

Returns on capital100

Median ROIC 23.9%, above the 9% hurdle in 100% of years.

Balance-sheet safety94

Net debt/EBITDA 0.4x, interest coverage 26x.

Capital discipline60

Owner earnings +20.5%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

27% above value

Owner earnings (normalized): $523.7M
Est. intrinsic value / share: $72.72
Recent price: $92.67
Discount to value: 27% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell BJ. See the disclaimer.