Walmart Inc.
Financial Performance
Walmart Revenue & Financials
Revenue
$713.2B (FY2026)
Market Cap
$790B
Net Income
$21.9B
Employees
2,100,000
What is Walmart's revenue?
Walmart had $713.2B in revenue for fiscal year 2026, up 4.7% from 2025. Net income was $21.9B.
- Latest revenue
- $713.2B (FY2026)
- Year-over-year
- +4.7%
- Growth rate (CAGR)
- 4.4% over 9 years
- Peak revenue
- $713.2B (FY2026)
- Years of data
- 10
- Employees
- 2,100,000
Financial Analysis
Walmart's FY2026 total revenues rose 4.7% to $713.2 billion and net income attributable to Walmart rose to $21.9 billion from $19.4 billion in FY2025. In Q2 FY27 (quarter ended July 31, 2026), total revenues rose 5.9% to $187.9 billion and adjusted EPS was $0.81 versus $0.68 a year earlier. Adjusted operating income growth of about 17% in constant currency included a benefit from roughly $2.9 billion in IEEPA tariff refunds, much of which Walmart said it reinvested in prices. Walmart raised its full-year sales and operating income growth guidance with the Q2 report. Walmart is the world's largest company by revenue and holds a massive market valuation often exceeding $400 billion to $500 billion.
Revenue Trend Analysis
YoY Change
+4.7%
9-Year CAGR
+4.4%
Peak Year
2026
Trend
Consistent Growth
Walmart Inc. has 10 full fiscal year figures on this page, compounding at +4.4% annually over 9 years. The most recent year saw a 4.7% increase versus the prior year. Annual revenue peaked in fiscal year 2026 at $713.2B. Of 9 comparable year-over-year steps, 9 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2026 | $713.2B | $29.8Bfiling | $21.9B | +4.7% | Walmart FY2026 Form 10-K (SEC EDGAR) Fiscal year ended 2026-01-31. |
| FY2025 | $681B | $29.3Bfiling | $19.4B | +5.1% | Walmart Form 10-K (SEC EDGAR) Fiscal year ended 2025-01-31. |
| FY2024 | $648.1B | $27Bfiling | $15.5B | +6.0% | Walmart Form 10-K (SEC EDGAR) Fiscal year ended 2024-01-31. |
| FY2023 | $611.3B | $20.4Bfiling | $11.7B | +6.7% | Walmart Form 10-K (SEC EDGAR) Fiscal year ended 2023-01-31. |
| FY2022 | $572.8B | $25.9Bfiling | $13.7B | +2.4% | Walmart Form 10-K (SEC EDGAR) Fiscal year ended 2022-01-31. |
| FY2021 | $559.2B | $22.5Bfiling | $13.5B | +6.7% | Walmart Form 10-K (SEC EDGAR) Fiscal year ended 2021-01-31. |
| FY2020 | $524B | $20.6Bfiling | $14.9B | +1.9% | Walmart Form 10-K (SEC EDGAR) Fiscal year ended 2020-01-31. |
| FY2019 | $514.4B | $22Bfiling | $6.7B | +2.8% | Walmart Form 10-K (SEC EDGAR) Fiscal year ended 2019-01-31. |
| FY2018 | $500.3B | $20.4Bfiling | $9.9B | +3.0% | Walmart Form 10-K (SEC EDGAR) Fiscal year ended 2018-01-31. |
| FY2017 | $485.9B | $22.8Bfiling | $13.6B | — | Walmart Form 10-K (SEC EDGAR) Fiscal year ended 2017-01-31. Net income attributable to Walmart. |
Click any row to see year details.
Walmart Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|
| FY2026ended Jan 31, 2026 | $41.6B | $26.6B | $284.7B | $99.6B | $14.9B | Form 10-K |
| FY2025ended Jan 31, 2025 | $36.4B | $23.8B | $260.8B | $91B | $12.7B | Form 10-K |
| FY2024ended Jan 31, 2024 | $35.7B | $20.6B | $252.4B | $83.9B | $15.1B | Form 10-K |
| FY2023ended Jan 31, 2023 | $28.8B | $16.9B | $243.2B | $76.7B | $12B | Form 10-K |
| FY2022ended Jan 31, 2022 | $24.2B | $13.1B | $244.9B | $83.3B | $11.1B | Form 10-K |
| FY2021ended Jan 31, 2021 | $36.1B | $10.3B | $252.5B | $80.9B | $25.8B | Form 10-K |
| FY2020ended Jan 31, 2020 | $25.3B | $10.7B | $236.5B | $74.7B | $14.6B | Form 10-K |
| FY2019ended Jan 31, 2019 | $27.8B | $10.3B | $219.3B | $72.5B | $17.4B | Form 10-K |
| FY2018ended Jan 31, 2018 | $28.3B | $10.1B | $204.5B | $77.9B | $18.3B | Form 10-K |
| FY2017ended Jan 31, 2017 | $31.7B | $10.6B | $198.8B | $77.8B | $21.1B | Form 10-K |
Keep researching Walmart
Walmart Revenue and Financial FAQ
What were Walmart's total revenues and net income in fiscal year 2026?
In fiscal year 2026 (ended January 31, 2026), Walmart reported record total revenues of $713.2 billion (up 4.7% YoY) and consolidated net income attributable to Walmart of $21.9 billion, compared to $19.4 billion in FY2025.
What were Walmart's financial results in Q2 fiscal 2027?
In Q2 FY2027 (quarter ended July 31, 2026), Walmart generated total revenues of $187.9 billion (up 5.9% YoY), adjusted EPS of $0.81, and constant-currency adjusted operating income growth of approximately 17%.
How rapidly is Walmart's global advertising business (Walmart Connect) growing?
Global advertising grew 38% year-over-year in Q2 FY2027, driven by 30%+ growth at Walmart Connect in the US and rapid advertiser adoption across Flipkart in India.
How did global ecommerce sales perform in recent quarters?
Global ecommerce net sales grew 23% in Q2 FY2027, led by store-fulfilled pickup and delivery expansion, and US marketplace sales surging 52% year-over-year.
What was the impact of the $2.9 billion IEEPA tariff refunds?
During FY2026 and FY2027, Walmart received approximately $2.9 billion in International Emergency Economic Powers Act (IEEPA) tariff refunds, which management largely reinvested into lowering consumer shelf prices.
What are Walmart's typical consolidated gross and operating margins?
Walmart operates with gross profit margins around 24.0% to 24.5% and consolidated operating margins between 4.2% and 4.8%, leveraging massive sales volume to generate tens of billions in operating profit.
How much operating cash flow and free cash flow does Walmart generate annually?
Walmart typically generates $35 billion to $40 billion in operating cash flow and $15 billion to $20 billion in free cash flow after funding over $20 billion in annual capital expenditures.
How much does Walmart return to shareholders through dividends and share buybacks?
Walmart has increased its annual dividend for over 50 consecutive years (a Dividend King) and consistently repurchases $8 billion to $10 billion of its common stock annually under approved share buyback authorizations.
What is Walmart's capital expenditure strategy and where is capital allocated?
Walmart allocates annual capital expenditures toward automated supply chain distribution centers (Symbotic robotics), store remodel rollouts, digital customer tech, and new store openings.
How does Sam's Club contribute to overall corporate profitability?
Sam's Club generated over $86 billion in annual sales, with high-margin membership fee income growing 17% YoY, providing highly recurring, low-volatility earnings.
What is Walmart's long-term debt profile and credit rating?
Walmart maintains an elite AA credit rating from S&P and Moody's, backed by conservative debt-to-EBITDA leverage typically maintained under 2.0x.
What was the 3-for-1 stock split executed in February 2024?
On February 26, 2024, Walmart completed a 3-for-1 forward stock split to make share ownership more affordable and accessible for its 2.1 million global retail associates.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Walmart Revenue & Financials." CorpDigest, https://corpdigest.com/company/walmart/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Walmart reported $713.2B in revenue (FY2026).</strong><br>Source: <a href="https://corpdigest.com/company/walmart/financials" target="_blank" rel="noopener">CorpDigest — Walmart financials</a></div>Related Financial Audits
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