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  5. COST: I hold PBH (0. [Costco CDR (CAD Hedged)]
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Investment Q&A

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Q: I hold PBH (0.8% position) and COST (1.5%), and I realize that consolidating them is prudent. COST has been a very solid performer over time, but PBH has been performing quite well recently, after a couple of years where the share price was on a downward trajectory.

I understand each company has its attributes: with a time horizon of five years, in terms of share price appreciation, which is poised for better growth?
Asked by Domenic on July 23, 2025
5i Research Answer:

It is a difficult choice. PBH is smaller, much cheaper, with a much higher dividend, and higher expected growth in the next 24 months, but also a highly leveraged balance sheet. Costco is, well Costco, with $6B cash and a dominant niche. It is massively larger, and decent growth is still epxected. It is just 51X earnings. COST is the safer choice, but PBH is the choice for growth potential.