{"id":3803,"date":"2022-02-02T23:56:00","date_gmt":"2022-02-02T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/us\/?p=3803"},"modified":"2025-06-27T07:53:46","modified_gmt":"2025-06-26T23:53:46","slug":"how-costco-make-money","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/","title":{"rendered":"How does Costco make money?"},"content":{"rendered":"\n<p>I will write two articles about Costco. Today is the first one, focusing on a simple introduction. Another blog post about Costco is &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/11\/27\/costco-moats-difference\/\" target=\"_blank\" rel=\"noreferrer noopener\">Costco&#8217;s moats, and the Differences from Other Competitors<\/a>&#8220;.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_83 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/#Related_content_in_my_book\" >Related content in my book<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/#Company_introduction\" >Company introduction<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/#Super_growth_stocks_are_not_necessarily_in_hot_industries\" >Super growth stocks are not necessarily in hot industries<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/#Why_we_discuss_Costco\" >Why we discuss Costco?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/#Costcos_business\" >Costco&#8217;s business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/#eCommerce\" >eCommerce<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/#Business_performance_and_valuation\" >Business performance and valuation<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/#Valuation\" >Valuation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/#How_is_the_business_performance\" >How is the business performance?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/#Investors_rewarding\" >Investors rewarding<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/#Dividends\" >Dividends<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/#Quarterly_dividends\" >Quarterly dividends<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/#Special_dividends\" >Special dividends<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/#Repurchase\" >Repurchase<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/#Related_article\" >Related article<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Related_content_in_my_book\"><\/span>Related content in my book<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>I have introduced the company Costco in my two books, and the content in the book will not be repeated. Investors are invited to refer to the special section in my book:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In the 5-4 subsections of the book &#8220;<a href=\"https:\/\/www.books.com.tw\/products\/0010935641?sloc=main\" target=\"_blank\" rel=\"noreferrer noopener\">The Rules of 10 Baggers<\/a>&#8220;, pages 233-238: This entire subsection has a special introduction to the company Costco.<\/li>\n\n\n\n<li>In section 2-3 of the book &#8220;<a href=\"https:\/\/www.books.com.tw\/products\/0010889106?sloc=main\" target=\"_blank\" rel=\"noreferrer noopener\">The Rules of Super Growth Stocks Investing<\/a>&#8220;, page 128; and in section 2-3, page 124-126; this entire section has a special introduction to the company Costco.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Company_introduction\"><\/span>Company introduction<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Super_growth_stocks_are_not_necessarily_in_hot_industries\"><\/span><strong>Super growth stocks are not necessarily in hot industries<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Many friends have been telling me that they do not have a circle of competence in the technology field, and technology stocks will rise sharply, this will reduce the possibility of getting rich. In fact, it&#8217;s not the case. The reason is very simple. First of all, good companies are rare. If you invest in a few companies that investors are really familiar with for a long time, you will definitely get rich. <\/p>\n\n\n\n<p>Moreover, investing in technology stocks, technology changes fast, it is too volatile and may not be suitable for most conservative retail investors. In addition to the article I wrote before, &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/05\/16\/discover-the-possibility-of-super-growth-stocks-in-the-civilian-production-industry\/\">Discover the possibility of super growth stocks in the civilian production industry<\/a>&#8220;, today&#8217;s article can prove to you that super growth stocks are not necessarily in the technology industry. Super growth can also be found in ordinary industries.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_we_discuss_Costco\"><\/span><strong>Why we discuss Costco?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Many friends complained that listed companies on the US stock market are not accessible at all and it is difficult to conduct on-site inspections (shareholders, the company owner always wants to check the warehouse at any time). Fr example, Nike (ticker: NKE), I&#8217;m facing the channel of distributors, I don&#8217;t know what the company looks like, it&#8217;s ocean away in the United States. <\/p>\n\n\n\n<p>But I want to conduct due diligence on listed companies as in the case of Holmes, otherwise I will not feel confident to buy its stocks. Well, this company can let you go anytime when you are happy. You can even visit its warehouse. It currently has 14 warehouses in Taiwan. It entered Taiwan in 1997 and it has been 25 years. It is not difficult to find from north to south.<\/p>\n\n\n\n<p>I used Costco (ticker: COST) as an example in Chapter 2, Section 2-3, and Chapter 3, Section 3-1 in my book &#8220;The Rules of Super Growth Stocks Investing&#8221;, maily to explain the moat of a company. I suggest that friends who are interested, you can take a look at my two analysis on Costco in the book.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Costcos_business\"><\/span><strong>Costco&#8217;s business<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Costco\u2019s business does not need to be explained. It is a traditional warehouse-Costco\u2019s business does not need to be explained. It is a traditional super large-scale hypermarket. It is a typical physical retail industry. Its business includes food, fresh food, e-commerce, clothing, 3C mobile phone and computers, home appliances, consumer finance, and people\u2019s livelihood products. <\/p>\n\n\n\n<p>In Taiwan, because of the limited space, we see only a reduced version of Costco. I have actually been to many of the Costco warehouse  in the United States. The Costco warehouse in the United States have a lot of people compared to other large supermarkets like Walmart (ticker: WMT), but they are not as crowded in Taiwan, and they have more tricks, not only product items. Each will have a gas station, sell a 10-carat diamond ring, sell private jet services, insurance, and credit loans. The services scope is simply dizzying.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"eCommerce\"><\/span><strong>eCommerce<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The e-commerce net sales generated by Costco&#8217;s e-commerce division accounted for approximately 6% of the company&#8217;s net sales in 2020, which has doubled from 3% in 2015. At the peak time of the pandemic in 2020, the second to fourth quarter, Costco&#8217;s e-commerce department had an amazing annual growth rate of 75% to 101%.<\/p>\n\n\n\n<p>But this figure also shows that Costco&#8217;s customer base is mainly made up of shoppers in person.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Business_performance_and_valuation\"><\/span>B<strong>usiness performance<\/strong> and valuation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Valuation\"><\/span><strong>Valuation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Costco has proved that it is one of the few retailers that can resist Amazon. Just look at the following valuation table:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><\/td><td>Costco<\/td><td>Amazon<\/td><td>Walmart<\/td><\/tr><tr><td>Stock price<\/td><td>549.73<\/td><td>3,580.41<\/td><td>146.54<\/td><\/tr><tr><td>Market capital (in US$ billion)<\/td><td>242.884<\/td><td>1,816<\/td><td>408.627<\/td><\/tr><tr><td>Past 1 year stock performance<\/td><td>41.54%<\/td><td>12.05%<\/td><td>-3.34%<\/td><\/tr><tr><td> Past 5 year stock performance <\/td><td>261.65%<\/td><td>383.62%<\/td><td>106.74%<\/td><\/tr><tr><td>P\/S<\/td><td>1.24<\/td><td>4.02<\/td><td>0.72<\/td><\/tr><tr><td>P\/E<\/td><td>48.78<\/td><td>70.07<\/td><td>51.6<\/td><\/tr><tr><td>Dividend yield<\/td><td>0.57%<\/td><td>0<\/td><td>1.5%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Please pay special attention to its price-to-earnings ratio, which is no worse than Amazon. Amazon is classified as a technology stock in Wall Street, and there is an oligo-profitable AWS cloud division. However, Costco is not a technology company, and even the e-commerce department is much worse than Amazon, and there is no cash cow like the cloud department. <\/p>\n\n\n\n<p>It is a very traditional physical retail trade. It can have a higher price-to-earnings ratio than most technology companies, and other valuations; you can see how popular it is among investors. If I cover up the company name in the above table, everyone must think that this is the hot newly listed SaaS company. You may say that it is similar to Walmart, but please take a look at the stock price performance of the past one and five years!<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_is_the_business_performance\"><\/span><strong>How is the business performance?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><\/td><td>Performance<\/td><td>Annual growth<\/td><\/tr><tr><td>FY 2021 net revenue (US$ billion)<\/td><td>192.056<\/td><td>+18%<\/td><\/tr><tr><td>FY 2021 member revenue (US$ billion)  <\/td><td>3.877<\/td><td>+9%<\/td><\/tr><tr><td>FY 2021 net income (US$ billion)   <\/td><td>5.007<\/td><td>+25%<\/td><\/tr><tr><td>FY 2021 gross margin<\/td><td>11.13%<\/td><td>+7bps<\/td><\/tr><tr><td>FY 2021 carholders (million)   <\/td><td>111.6<\/td><td>+5.78%<\/td><\/tr><tr><td>FY 2021 warehouse worldwide  <\/td><td>815<\/td><td>+2.516%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"162\" height=\"78\" src=\"https:\/\/www.granitefirm.com\/blog\/us\/wp-content\/uploads\/sites\/2\/2022\/09\/AmCham-Taiwan.jpg\" alt=\"Costco \" class=\"wp-image-13895\"\/><figcaption class=\"wp-element-caption\">credit: AmCham-Taiwan<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Investors_rewarding\"><\/span><strong>Investors rewarding<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dividends\"><\/span>Dividends<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Quarterly_dividends\"><\/span>Quarterly dividends<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Costco&#8217;c current dividend yield close to 0.8%. It looks not quite amazing. However, Costco grows its yearly dividend by more than 277% in the past 10 years, which is quite a feat<em>.<\/em><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Special_dividends\"><\/span>Special dividends<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Costco is a rare case, in addition to distribute dividends quarterly, it will also issue additional large cash dividends from time to time. Over the last 10 years, Costco issued four special dividends<em>.<\/em> In the 2021 fiscal year, two special dividends have been issued:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ten dollars per share (December 2020)<\/li>\n\n\n\n<li>Ten dollars per share (April 2021)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Repurchase\"><\/span>Repurchase<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In terms of stock repurchase, Costco did not fall behind. In fiscal year 2021, it repurchased 318,000 shares, which is equivalent to 0.0072% of the outstanding shares.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Related_article\"><\/span>Related article<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li> &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/11\/27\/costco-moats-difference\/\" target=\"_blank\" rel=\"noreferrer noopener\">Costco&#8217;s moats, and the Differences from Other Competitors<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/\">How does Costco make money?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/06\/26\/costcos-valuation\/\">Why is Costco\u2019s valuation so staggering? <\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/08\/29\/walmart\/\" target=\"_blank\" rel=\"noreferrer noopener\">Walmart, the real retail overlord, how it makes money?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/04\/09\/williams-sonoma-surged\/\">Upscale retailer Williams-Sonoma, stock surged in recent years, What\u2019s special?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/12\/16\/amazon-vs-alibaba\/\" target=\"_blank\" rel=\"noreferrer noopener\">Amazon vs. Alibaba<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/12\/10\/amazons-economic-scale\/\" target=\"_blank\" rel=\"noreferrer noopener\">Amazon\u2019s dominance by its economic scale, impact share price of PayPal, Affirm, Fair Isaac, Visa, and Mastercard<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/02\/02\/how-costco-make-money\/\" target=\"_blank\" rel=\"noreferrer noopener\">How does Costco make money?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/03\/dollar-general-dollar-tree\/\">Dollar General vs. Dollar Tree<\/a>&#8220;<\/li>\n<\/ul>\n\n\n\n<p><em><strong>Disclaimer<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>The content of this site is the author\u2019s personal opinions and is for reference only. I am not responsible for the correctness, opinions, and immediacy of the content and information of the article. Readers must make their own judgments.<\/em><\/li>\n\n\n\n<li><em>I shall not be liable for any damages or other legal liabilities for the direct or indirect losses caused by the readers&#8217; direct or indirect reliance on and reference to the information on this site, or all the responsibilities arising therefrom, as a result of any investment behavior.<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>How does Costco make money? Is it a good company?<\/p>\n","protected":false},"author":1,"featured_media":13895,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[128,163,130,207,164],"tags":[227,215,187,219],"class_list":["post-3803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retail","category-dividend","category-ecommerce","category-main-business","category-repurchase","tag-amzn","tag-cost","tag-nke","tag-wmt"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/3803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/comments?post=3803"}],"version-history":[{"count":43,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/3803\/revisions"}],"predecessor-version":[{"id":37110,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/3803\/revisions\/37110"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media\/13895"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media?parent=3803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/categories?post=3803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/tags?post=3803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}