Walmart WMT
Omnichannel retail, supercenters & e-commerce. Walmart Inc., listed on NASDAQ.
Based on the FY2026 annual report (Feb 2025 – Jan 2026)
Walmart's market cap is
about $1.020 trillion.
#11 by market cap among 289 companies, based on the Nov 5, 2026 close. FY2026 revenue was $706.413B.
- Share price (close)
- $127.72
- P/E ratio
- 46.8x
- Market cap
- $1.020T
- Revenue
- $706.413B
- Operating income
- $29.825B
- Net income
- $21.893B
- Free cash flow
- $14.923B
- Total assets
- $284.668B
- Dividends paid
- $7.507B
- Dividend per share
- $0.94
- Dividend yield
- 0.7%
- Shares outstanding
- 8,022,000,000 shares
Where the revenue went
Revenue is set at 100% and split into what went to costs, R&D, operating expenses and taxes, and what was left as profit.
- Cost of revenue75.8%
- SG&A and other20.0%
- Taxes, interest & other1.1%
- Net income3.1%
Profitability and stability
Each figure comes with its rank among 300 companies. The further right the dot, the higher the rank.
- Revenue growthHow much revenue grew from the previous fiscal year
- +4.7%
- #203 of 299
- Revenue was roughly flat. The median across 299 companies is +7.9%.
- Operating marginShare of revenue kept as profit from the core business
- 4.2%
- #202 of 231
- 4.2% of revenue was kept as operating profit, which is on the low side. The median across 231 companies is 19.2%.
- Net marginShare of revenue left as profit after interest and taxes
- 3.1%
- #261 of 298
- After taxes, 3.1% of revenue was left as net income. The median across 298 companies is 14.0%.
- FCF marginShare of revenue left as cash after capital spending
- 2.1%
- #232 of 261
- Little cash is left after capital spending. The median across 261 companies is 15.8%.
- ROEHow much profit the company earned on shareholders' equity in a year
- 23.0%
- #105 of 276
- Earns a lot relative to its equity. The median across 276 companies is 16.8%.
- Debt-to-equityLiabilities relative to equity. Lower means less debt
- 185.8%
- #141 of 244
- Liabilities exceed equity. The median across 244 companies is 159.6%.
Revenue and profit over time
Gray bars show revenue and the green part inside shows net income. The number above each bar is revenue (abbreviated) and the number below is net margin. Hover over a bar to see the exact amounts.
Where the cash went
Unlike profit, cash flow is money that actually came in and went out.
- Cash from operations$41.565B
- Capital spending−$26.642B
- Free cash flow (FCF)$14.923B
- Dividends paid−$7.507B
Whose money funds the assets
The company's assets, split into borrowed money (liabilities) and shareholders' money (equity).
- Total assets$284.668B
- Total liabilities$185.051B
- Total equity$99.617B
- Cash and equivalents$10.727B
Compared with similar companies
Based on each company's latest annual report, so fiscal year ends may differ.
Compare in detail| Company | Annual revenue | Net income | Revenue growth | Operating margin | Net margin |
|---|---|---|---|---|---|
| WalmartWMT | $706.413B | $21.893B | +4.7% | 4.2% | 3.1% |
| CostcoCOST | $303.154B | $9.226B | +10.1% | 3.9% | 3.0% |
| AmazonAMZN | $716.924B | $77.67B | +12.4% | 11.2% | 10.8% |
| TargetTGT | $104.78B | $3.705B | −1.7% | 4.9% | 3.5% |
| KrogerKR | $147.642B | $1.016B | +0.3% | 1.3% | 0.7% |
| Home DepotHD | $164.683B | $14.156B | +3.2% | 12.7% | 8.6% |
What the company does
Walmart is the world's largest retailer by revenue, operating US supercenters and grocery stores, same-day delivery e-commerce, the Walmart Connect retail media business and the Sam's Club warehouse chain.
- Walmart U.S. (supercenters, Neighborhood Markets, US e-commerce, Walmart Connect advertising)
- Walmart International (Walmex in Mexico, Canada, China, Flipkart in India and other markets)
- Sam's Club (membership warehouse clubs and e-commerce)
The fiscal year ends on January 31. As a high-volume, low-margin retailer, Walmart earns an operating margin of only about 4%, but fast inventory turnover and growing e-commerce, advertising (Walmart Connect) and membership income produce steady cash flow.
Related companies: Costco, Amazon, Target, Kroger, Home Depot
Financial statements
Last 5 fiscal years. Currency: US dollars.
Show the table
| Item | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Revenue | 567.762B | 605.881B | 642.637B | 674.538B | 706.413B |
| Cost of revenue | 429B | 463.721B | 490.142B | 511.753B | 535.395B |
| Gross profit | 138.762B | 142.16B | 152.495B | 162.785B | 171.018B |
| Operating income | 25.942B | 20.428B | 27.012B | 29.348B | 29.825B |
| Pretax income | 18.696B | 17.016B | 21.848B | 26.309B | 29.469B |
| Net income | 13.673B | 11.68B | 15.511B | 19.436B | 21.893B |
| EPS (diluted) | $1.62 | $1.42 | $1.91 | $2.41 | $2.73 |
| Operating cash flow | 24.181B | 28.841B | 35.726B | 36.443B | 41.565B |
| Capital expenditures | 13.106B | 16.857B | 20.606B | 23.783B | 26.642B |
| Free cash flow (FCF) | 11.075B | 11.984B | 15.12B | 12.66B | 14.923B |
| Dividends paid | 6.152B | 6.114B | 6.14B | 6.688B | 7.507B |
| Total assets | 244.86B | 243.197B | 252.399B | 260.823B | 284.668B |
| Total liabilities | 152.969B | 159.443B | 162.05B | 169.81B | 185.051B |
| Total equity | 91.891B | 83.754B | 90.349B | 91.013B | 99.617B |
| Cash and equivalents | 14.834B | 8.841B | 9.935B | 9.037B | 10.727B |
| Original filing | 10-K | 10-K | 10-K | 10-K | 10-K |
Source: SEC EDGAR filings for Walmart Inc. · CIK 0000104169 · US-GAAP