Walmart (WMT) Financial Statements & Analysis

Walmart (WMT) Income Statement

Walmart reported revenue of $713.16B in fiscal 2026 (fiscal year ended Jan 31, 2026), up 4.7% from $680.99B a year earlier. Net income was $21.89B, up 12.6% year over year, a net margin of 3.1%. Gross margin was 24.9% and operating margin 4.2%. In the most recent quarter, Q2 fiscal 2027 (ended Jul 31, 2026), revenue was $187.94B, up 5.9% from the same quarter a year earlier.

Walmart Income Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Walmart Inc. income statement - Annual data in billions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Jan 2026	Jan 2025	Jan 2024	Jan 2023	Jan 2022	Jan 2021	Jan 2020	Jan 2019	Jan 2018	Jan 2017
Revenue & Gross Profit
Revenue	713.16	680.99	648.13	611.29	572.75	559.15	523.96	514.41	500.34	485.87
Cost of Revenue	535.40	511.75	490.14	463.72	429.00	420.32	394.61	385.30	373.40	361.26
Gross Profit	177.77	169.23	157.98	147.57	143.75	138.84	129.36	129.10	126.95	124.62
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	147.94	139.88	130.97	123.04	117.81	116.29	108.79	107.15	106.51	101.85
Operating Expenses	147.94	139.88	130.97	127.14	117.81	116.29	108.79	107.15	106.51	101.85
Operating Income	29.83	29.35	27.01	20.43	25.94	22.55	20.57	21.96	20.44	22.76
Other Income/Expense
Interest Income	0.37	0.48	0.55	0.25	0.16	0.12	0.19	0.22	0.15	0.10
Interest Expense	2.80	-2.73	2.68	-2.13	-1.99	2.32	2.60	2.35	2.33	2.37
Other Income/Expense	-0.36	-3.04	-3.03	-3.41	-7.25	-1.98	-0.45	-10.50	-5.31	-2.27
Income
Income Before Tax	29.47	26.31	21.85	17.02	18.70	20.56	20.12	11.46	15.12	20.50
Income Tax Expense	7.20	6.15	5.58	5.72	4.76	6.86	4.92	4.28	4.60	6.20
Net Income	21.89	19.44	15.51	11.68	13.67	13.51	14.88	6.67	9.86	13.64
Net Income - Continuous Operations	21.89	19.44	16.27	11.68	13.67	13.51	14.88	6.67	9.86	13.64
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-	-
EBITDA	46.47	42.32	36.38	35.47	36.60	34.03	33.70	24.53	27.98	32.84
EBIT	29.83	29.35	24.53	24.53	25.94	-	-	-	-	-
Depreciation & Amortization	14.20	12.97	11.85	10.95	10.66	11.15	10.99	10.68	10.53	10.08
Earnings Per Share
Basic EPS	3.00	2.00	2.00	1.00	2.00	2.00	2.00	1.00	1.00	1.00
Diluted EPS	3.00	2.00	2.00	1.00	2.00	2.00	2.00	1.00	1.00	1.00
Basic Shares Outstanding	7.98	8.04	8.08	8.17	8.38	8.49	8.55	8.79	8.99	9.30
Diluted Shares Outstanding	8.02	8.08	8.11	8.20	8.42	8.54	8.60	8.84	9.03	9.34

Source: Company financial statements from annual and quarterly filings. Data as of Jul 31, 2026. Data sources and methodology

Frequently Asked Questions About Walmart Financial Statements

What was Walmart's revenue in fiscal 2026?

Walmart reported revenue of $713.16B in fiscal 2026 (fiscal year ended Jan 31, 2026). That was up 4.7% from $680.99B a year earlier.

Is Walmart profitable?

Yes. Walmart earned net income of $21.89B in fiscal 2026, a net margin of 3.1%. In fiscal 2025 it earned $19.44B.

What is Walmart's operating margin?

Walmart's operating income was $29.82B on revenue of $713.16B in fiscal 2026, an operating margin of 4.2%, compared with 4.3% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition