Financials in USD. Standardized financial statements.
A compact view of how Walmart Inc. turns revenue into operating income and net income.
| Metric | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $713.16B | $680.99B | $648.13B | $611.29B | $572.75B | $559.15B | $523.96B | $514.40B | $500.34B | $485.87B |
| Revenue Growth? | +4.7% | +5.1% | +6.0% | +6.7% | +2.4% | +6.7% | +1.9% | +2.8% | +3.0% | 0.0% |
| Cost of Revenue? | $535.39B | $511.75B | $490.14B | $463.72B | $429.00B | $420.31B | $394.61B | $385.30B | $373.40B | $361.26B |
| Gross Profit? | $177.77B | $169.23B | $157.98B | $147.57B | $143.75B | $138.84B | $129.36B | $129.10B | $126.95B | $124.62B |
| Gross Margin? | +24.9% | +24.9% | +24.4% | +24.1% | +25.1% | +24.8% | +24.7% | +25.1% | +25.4% | +25.6% |
| Operating Expenses? | $147.94B | $139.88B | $130.97B | $127.14B | $117.81B | $116.29B | $108.79B | $107.15B | $106.51B | $101.85B |
| Operating Income? | $29.82B | $29.35B | $27.01B | $20.43B | $25.94B | $22.55B | $20.57B | $21.96B | $20.44B | $22.76B |
| EBITDA? | $46.47B | $42.01B | $36.38B | $30.09B | $31.35B | $34.03B | $33.70B | $24.53B | $27.98B | $32.84B |
| Income Before Tax | $29.47B | $26.31B | $21.85B | $17.02B | $18.70B | $20.56B | $20.12B | $11.46B | $15.12B | $20.50B |
| Income Tax Expense | $7.20B | $6.15B | $5.58B | $5.72B | $4.76B | $6.86B | $4.92B | $4.28B | $4.60B | $6.20B |
| Net Income? | $21.89B | $19.44B | $15.51B | $11.68B | $13.67B | $13.51B | $14.88B | $6.67B | $9.86B | $13.64B |
| EPS? | $2.74 | $2.42 | $1.92 | $1.43 | $1.63 | $1.63 | $1.74 | $0.76 | $1.10 | $1.47 |
| Diluted EPS? | $2.73 | $2.41 | $1.91 | $1.42 | $1.62 | $1.62 | $1.73 | $0.75 | $1.09 | $1.46 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality