PriceSmart, Inc.
- Open
- 186.01
- Day high
- 198.99
- Day low
- 185.42
- Prev close
- 188.25
- Volume
- 379K
- Mkt cap
- $6.1B
- P/E (TTM)
- 37.7
- EPS (TTM)
- $5.21
- P/B
- 4.4
- P/S
- 1.1
- Yield
- 0.68%
- Per share
- $1.33
- ▼Insiders net selling -$2.1M over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions mixed (13F)
PriceSmart, Inc. (PSMT) is a Consumer Defensive company listed on NASDAQ. The stock is up 83% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
PriceSmart, Inc. (PSMT) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PSMT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 9, 2026 | $1.32 | $1.28 | -3.0% | $1.5B | +3.4% |
| Apr 9, 2026 | $1.57 | $1.62 | +3.2% | $1.5B | +1.4% |
| Jan 7, 2026 | $1.35 | $1.29 | -4.4% | $1.4B | +2.3% |
| Oct 30, 2025 | $1.10 | $1.02 | -7.3% | $1.3B | +0.1% |
| Jul 10, 2025 | $1.16 | $1.14 | -1.7% | $1.3B | -0.9% |
| Apr 9, 2025 | $1.44 | $1.45 | +0.7% | $1.4B | +0.3% |
| Jan 8, 2025 | $1.25 | $1.21 | -3.2% | $1.3B | -6.3% |
| Oct 30, 2024 | $1.03 | $0.94 | -8.7% | $1.2B | +0.7% |
| Jul 10, 2024 | $1.01 | $1.08 | +6.9% | $1.2B | +1.0% |
| Apr 9, 2024 | $1.25 | $1.31 | +4.8% | $1.3B | +1.1% |
| Jan 9, 2024 | $1.09 | $1.24 | +13.8% | $1.2B | +0.7% |
| Jul 10, 2023 | $0.85 | $1.02 | +20.0% | $1.1B | +0.0% |
PSMT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 18, 2026 | Velasco Franciscoofficer: EVP - CLO, CRCO | Sell | 338 | $158.56 |
| May 5, 2026 | ZURCHER EDGARdirector | Sell | 2,259 | $155.17 |
| May 4, 2026 | Hanson Gordon H.director | Sell | 635 | $157.60 |
| Apr 27, 2026 | Kovaleski Paulofficer: EVP-Chief Merch. Officer | Tax | 19 | $162.15 |
| Apr 24, 2026 | PRICE ROBERT Edirector, 10 percent owner: | Sell | 10,000 | $159.60 |
| Feb 18, 2026 | Velasco Franciscoofficer: EVP - CLO, CRCO | Sell | 338 | $154.71 |
| Feb 6, 2026 | INFANTE BEATRIZ Vdirector | Grant | 1,131 | — |
| Feb 6, 2026 | FISHER JEFFREYdirector | Grant | 1,131 | — |
| Feb 6, 2026 | JANKS LEON Cdirector | Grant | 1,131 | — |
| Feb 6, 2026 | Thelan Johndirector | Grant | 1,131 | — |
| Feb 6, 2026 | ZURCHER EDGARdirector | Grant | 1,131 | — |
| Feb 6, 2026 | Snyder David Rdirector | Grant | 1,131 | — |
| Feb 6, 2026 | Hanson Gordon H.director | Grant | 1,131 | — |
| Feb 6, 2026 | Bahrambeygui Sherry S.director | Grant | 1,131 | — |
| Feb 6, 2026 | Marquez Patriciadirector | Grant | 1,131 | — |
Source: PSMT SEC Form 4 filings, latest May 18, 2026. For informational purposes only — not investment advice.
See the full PSMT insider & 13F page →PriceSmart, Inc. company profile
Overview
PriceSmart, Inc. (NASDAQ:PSMT) is a membership-based warehouse club operator that brings the American warehouse club concept to Central America, the Caribbean, and Colombia. Founded in 1994 and headquartered in San Diego, California, the company went public in 1997. PriceSmart operates 55 warehouse clubs across 12 countries and one U.S. territory, serving approximately 1.9 million members. The company has established itself as a leading retailer in its markets by offering bulk merchandise at competitive prices through a membership model similar to Costco or Sam's Club, but tailored to the specific needs and preferences of Latin American and Caribbean consumers.
Business
PriceSmart operates membership-based warehouse clubs that sell bulk merchandise at discounted prices to fee-paying members. The warehouse club industry is built on a simple premise: by charging annual membership fees and operating with minimal overhead in large, no-frills warehouse spaces, retailers can offer brand-name products at prices significantly below traditional retail stores. Members pay an annual fee (typically ranging from basic to premium "Platinum" memberships) for the privilege to shop at these clubs, where they can purchase everything from groceries to electronics in larger quantities at lower per-unit costs. The company's core business segments are organized geographically, with revenue distribution as follows: Central America represents the largest segment with 30 warehouse clubs generating approximately 60% of total sales, including operations in Costa Rica, Guatemala, Honduras, Nicaragua, El Salvador, and Panama. The Caribbean segment operates 14 clubs contributing roughly 25% of sales across markets including Jamaica, Trinidad, Barbados, and the Dominican Republic. Colombia represents the newest and fastest-growing segment with 10 clubs accounting for about 15% of sales. PriceSmart's merchandise mix includes food categories (fresh produce, packaged goods, prepared foods, and bakery items), non-food categories (electronics, clothing, household items, and seasonal merchandise), and ancillary services such as optical centers, tire services, pharmacies, and audiology centers. The company has increasingly focused on developing its private label brand called "Members Selection," which now represents approximately 28% of total merchandise sales and typically offers higher profit margins than national brands. The company also operates Click & Go, an e-commerce platform that allows members to order online for curbside pickup or delivery. Digital sales have grown rapidly, reaching $76.2 million in the most recent quarter and representing 5.7% of total net merchandise sales, with 61% of members having created online profiles.
Revenue model
PriceSmart generates revenue through multiple streams within its membership-based business model. The primary revenue source is merchandise sales, which account for the vast majority of total revenue at approximately $4.9 billion annually. Members purchase products at prices that include a markup over wholesale costs, but this markup is typically lower than traditional retail due to the membership fee subsidy and operational efficiencies of the warehouse format. Membership fees represent a crucial secondary revenue stream, generating approximately $60-70 million annually from nearly 1.9 million member accounts. These fees provide a steady, predictable income base that helps subsidize lower merchandise margins. The company offers different membership tiers, with premium "Platinum" memberships (representing 14.5% of total memberships) commanding higher fees but providing additional benefits. Ancillary services contribute additional revenue through optical centers, tire services, pharmacies, and other member services. These services often carry higher margins than merchandise sales and help differentiate PriceSmart from traditional retailers while providing convenience to members. Several factors influence PriceSmart's profitability margins. Currency fluctuations represent a significant risk, as the company operates across multiple countries with varying currency stability. For example, recent challenges in markets like Honduras and Colombia have impacted margins due to currency conversion costs and local economic pressures. Inflation can both help and hurt margins - while it allows for price increases, it also raises operational costs and can pressure consumer spending in price-sensitive markets. Local sourcing capabilities positively impact margins by reducing import costs and currency exposure. The company sources approximately 50% of products locally, 33% from the United States, and the remainder from other international markets. Private label penetration significantly enhances margins, as these products typically offer 20-30% higher gross margins than national brands. Operational leverage from membership growth and increased sales per member helps spread fixed costs across a larger revenue base, improving overall profitability.
Competitive moat
PriceSmart's competitive moat is moderately strong but faces several challenges. The company's primary moat stems from its first-mover advantage in bringing the warehouse club concept to Central America and the Caribbean. In many of its markets, PriceSmart is the only large-scale membership warehouse club, giving it significant competitive positioning against traditional retailers who cannot match its combination of bulk pricing, membership benefits, and wide product selection. The company's membership model creates switching costs and customer loyalty, as members who pay annual fees are incentivized to concentrate their purchases at PriceSmart to maximize value. The 87.9% membership renewal rate demonstrates this loyalty effect. Additionally, the company's scale advantages in procurement and distribution within its geographic markets allow it to negotiate better wholesale prices and spread fixed costs across multiple locations. However, PriceSmart's moat faces several vulnerabilities. Geographic concentration in politically and economically volatile regions creates systematic risk that cannot be diversified away. Currency instability, political changes, and economic downturns in key markets like Colombia or Central American countries can significantly impact operations. Limited barriers to entry exist for well-capitalized competitors - while Costco or Sam's Club could theoretically enter these markets, the relatively small market sizes may not justify the investment for larger players. The company also faces competitive pressure from e-commerce platforms like Amazon, which can offer convenience and selection that warehouse clubs cannot match. Local and regional retailers are increasingly adopting bulk-buying and discount strategies, eroding some of PriceSmart's traditional advantages. The company's dependence on imported goods (approximately 50% of merchandise) creates vulnerability to trade disruptions, tariffs, and supply chain issues that could advantage more locally-focused competitors.
Risks & safety
PriceSmart demonstrates moderate financial safety with manageable debt levels but some operational cash flow volatility. Liquidity and Solvency: 1. Cash position of $130.4 million provides adequate liquidity buffer 2. Current ratio of 1.25 indicates sufficient short-term liquidity, though relatively tight 3. Debt-to-equity ratio of 0.20 represents conservative leverage 4. Total debt levels are manageable relative to EBITDA and cash generation Valuation Metrics: 1. Price-to-earnings ratio of 15.4x appears reasonable for a mature retailer 2. EV/EBITDA of 8.3x suggests moderate valuation relative to cash generation 3. Price-to-book ratio of 2.3x reflects some premium to tangible assets 4. Graham number of $35.74 versus current price of $85.79 indicates potential overvaluation Other Considerations: 1. Free cash flow volatility ($53.2M in Q2 2025 vs. -$0.3M in Q3 2024) raises concerns about cash generation consistency 2. Operating in emerging markets creates additional currency and political risks 3. Membership renewal rates above 87% provide some revenue stability 4. Geographic diversification across 12+ markets provides some risk mitigation
Recent development
Over the past few years, PriceSmart has pursued several key strategic initiatives focused on digital transformation, geographic expansion, and operational efficiency. The company has significantly invested in technology infrastructure, implementing new systems including RELEX for inventory management and ELERA point-of-sale systems to improve operational efficiency and customer experience. Digital commerce expansion has been a major focus, with the company's Click & Go e-commerce platform showing strong growth. Digital sales increased 19.3% in the most recent quarter to $76.2 million, now representing 5.7% of total sales. The company has enhanced its online platform and mobile app while expanding delivery capabilities and developing its own fleet of delivery trucks in key markets. Geographic expansion continues with new warehouse club openings planned in Costa Rica and Guatemala, bringing the total to 56 clubs. The company has also been investing heavily in distribution center infrastructure across multiple countries including Guatemala, Trinidad, and the Dominican Republic, while exploring opportunities for a distribution center in China to improve sourcing capabilities. Private label development has been another key strategic focus, with the "Members Selection" brand now representing 27.7% of total sales, up from 24.7% in 2022. This initiative directly improves margins while providing differentiated products for members. The company has also significantly expanded its health services offerings, with health services revenue growing 15.5% in the most recent quarter through expanded optical, pharmacy, and audiology centers. Operational improvements include enhanced membership programs with Platinum membership growing to 14.5% of total membership, improved supply chain management with approximately 50% local sourcing to reduce currency exposure, and tax optimization strategies expected to reduce the effective tax rate to 27-29% in fiscal 2025.
PSMT company profile · for informational purposes only — not investment advice.
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