Forensic Analysis · Retail / Consumer Discretionary · as of Aug 10, 2026

Bj'S Wholesale Club Holdings, Inc. (BJ)

A forensic read on Bj'S Wholesale Club Holdings, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Safe

Financial health

3.1

Distress distance

Clean

Earnings quality

Forensic signals

21.7

P / E (ttm)

26.3%

ROE

$12.2B

Market cap

4.7%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Bj'S Wholesale Club Holdings, Inc. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 3.1, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).

What the filings flag

+11.0%

FY2025→FY2026

Accruals ratio (% of NOA). Net operating assets grew +11.0% relative to their own average in FY2026 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. This is the fourth straight fiscal year of building accruals — an even longer streak than the 3-year mark that already signals a materially stronger tell. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 18% of net operating assets, diverging from the balance-sheet accrual read.

12.4%

FY2026

Return on invested capital. Return on invested capital is 12.4% in the latest fiscal year and steady — a modest positive spread over its ~9% cost of capital — growth adds value, though not dramatically.

-13%

FY2019→FY2020

Dividend — cut. The payout was CUT ~13% in FY2020 (from FY2019) and hasn't been restored since. It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.

Key fundamentals

Latest Revenue$21.46B

Revenue Growth YoY+4.7%

Revenue CAGR (3yr)+3.6%

Net Margin2.7%

Free Cash Flow$328.0M

Return on Equity26.3%

Debt / Equity0.24x

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Data from SEC EDGAR public filings · metrics as of Aug 10, 2026. Forensic signals flag probability, not certainty.