Short answer
PRICESMART INC (PSMT) filed its fiscal 2025 10-K annual report with the SEC on Oct 30, 2025. It reported revenue of $5.3B (+7.2% year over year) and net income of $148M.
- Top risk flagged: Regulatory risk: U.S. One Big Beautiful Bill Act ("OBBBA") includes 1% excise tax on foreign remittances, effective fiscal year 2027
FY2025 key financial metrics · XBRL
- Revenue
- $5.3B
- +7.2% YoY
- Net income
- $148M
- +6.5% YoY
- Operating margin
- 4.4%
- −0.1 pp YoY
- EPS (diluted)
- $4.82
- +5.5% YoY
- ROE
- 11.9%
- −0.5 pp YoY
- Operating cash flow
- $261M
- +25.9% YoY
Source: XBRL data from the PRICESMART INC (PSMT) FY2025 10-K on SEC EDGAR. USD.
PRICESMART INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Operates 56 warehouse clubs serving 4 million cardholders in Latin America and the Caribbean, focused on membership-based wholesale retail
- Expansion: New planned market entry into Chile with appointed country GM and site agreements; 3 new clubs planned in Dominican Republic and Jamaica for FY26 openings
- Digital sales growth: Online channel revenue $306.7M, up 21.6% YoY, now 6.0% of net merchandise sales, with ongoing tech upgrades like RELEX and new POS system
- Membership base: 17.9% Platinum Members, up from 12.3%, with private label sales increasing to 28.1% of merchandise sales, supporting member value strategy
- Employees: Workforce grew to over 12,000, 96% outside US, with significant focus on local hiring, diversity, and nearly 12,000 volunteer hours in FY25
Management Discussion & Analysis
- Foreign exchange exposure significant in Costa Rica ($87.9M), Nicaragua ($42.6M), Honduras ($1.1M) net asset positions as of Aug 31, 2025
- Net liability positions in Guatemala ($60.2M), Trinidad ($16.0M), Dominican Republic ($10.2M) increase currency risk
- Other comprehensive loss up to $21.7M on 5% currency decline; up to $138.5M on 20% decline across assets and liabilities
- Cross-currency interest rate swaps net liability $5.4M at Aug 31, 2025, hedge value fluctuates +/- ~$5M with 10% currency moves
- U.S. dollar illiquidity risks in Trinidad since FY 2017 and Honduras since FY 2023 impacting currency convertibility and funding operations
Risk Factors
- Regulatory risk: U.S. One Big Beautiful Bill Act ("OBBBA") includes 1% excise tax on foreign remittances, effective fiscal year 2027
- Geopolitical risk: Trinidad dollar illiquidity limits conversion to U.S. dollars; $59.7M in Trinidad dollars as of August 31, 2025, down $40.8M since 2020
- Operational risk: $7.2M charge in FY2023 to settle Alternative Minimum Tax dispute in a low-margin market with limited successful appeal prospects
- Financial risk: July 2025 financing to Trinidad subsidiary to mitigate U.S. dollar liquidity shortfall caused by local foreign exchange restrictions
Generated from the filing text; verify against the original. How to read a 10-K
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