Walmart Inc. WMT
Walmart Inc. ("Walmart," the "Company" or "we") is a people-led, technology-powered omnichannel retailer dedicated to helping people around the world save money and live better by providing the opportunity to shop in both retail stores and through eCommerce, and to access our other service offerings. Through innovation, we strive to continuously improve a customer-centric experience that seamlessly integrates our eCommerce and retail stores in an omnichannel offering that saves time for our customers. Each week, we serve approximately 280 million customers who visit more than 10,900 stores in 19 countries and through our numerous eCommerce websites and mobile applications.
Our strategy is to make every day easier for busy families, operate with discipline, sharpen our culture and become more digital, and make trust a competitive advantage. Making life easier for busy families includes our commitment to price leadership, which has been and will remain a cornerstone of our business, as well as increasing convenience to save our customers time. By leading on price, we earn the trust of our customers every day by providing a broad assortment of quality merchandise and services at everyday low prices ("EDLP"). EDLP is our pricing philosophy under which we price items at a low price every day so our customers trust that our prices will not change under frequent promotional activity. Everyday low cost ("EDLC") is our commitment to control expenses so our cost savings can be passed along to our customers.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $706.41B | $674.54B | $642.64B | $605.88B | $567.76B | $555.23B | $519.93B | $510.33B | $495.76B | $481.32B |
| 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 | $171.02B | $162.78B | $152.50B | $142.16B | $138.76B | $134.92B | $125.32B | $125.03B | $122.36B | $120.06B |
| SG&A | $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 |
| Interest expense | — | — | $2.14B | $1.87B | $1.84B | $2.19B | $2.41B | $2.13B | $2.18B | $2.27B |
| Pre-tax income | $29.47B | $26.31B | $21.85B | $17.02B | $18.70B | $20.56B | $20.12B | $11.46B | $15.12B | $20.50B |
| Income tax | $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, basic | 2.74 | 2.42 | 1.92 | 1.43 | 1.63 | 4.77 | 5.22 | 2.28 | 3.29 | 4.40 |
| EPS, diluted | 2.73 | 2.41 | 1.91 | 1.42 | 1.62 | 4.75 | 5.19 | 2.26 | 3.28 | 4.38 |
| Shares, diluted (wtd. avg.) | $8.02B | $8.08B | $8.11B | $8.20B | $8.41B | $2.85B | $2.87B | $2.94B | $3.01B | $3.11B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $10.73B | $9.04B | $9.94B | $8.84B | $14.83B | $17.79B | $9.52B | $7.76B | $7.01B | $7.14B |
| Receivables | $11.17B | $9.97B | $8.80B | $7.93B | $8.28B | $6.52B | $6.28B | $6.28B | $5.61B | $5.83B |
| Inventory | $58.85B | $56.44B | $54.89B | $56.58B | $56.51B | $44.95B | $44.44B | $44.27B | $43.78B | $43.05B |
| Total current assets | $84.87B | $79.46B | $76.88B | $75.66B | $81.07B | $90.07B | $61.81B | $61.90B | $59.66B | $57.69B |
| Property, plant and equipment | $136.08B | $119.99B | $110.81B | $100.76B | $94.52B | $92.20B | $105.21B | $104.32B | $107.67B | $107.71B |
| Goodwill | $28.73B | $28.79B | $28.11B | $28.17B | $29.01B | $28.98B | $31.07B | $31.18B | $18.24B | $17.04B |
| Total assets | $284.67B | $260.82B | $252.40B | $243.20B | $244.86B | $252.50B | $236.50B | $219.29B | $204.52B | $198.82B |
| Accounts payable | $63.06B | $58.67B | $56.81B | $53.74B | $55.26B | $49.14B | $46.97B | $47.06B | $46.09B | $41.43B |
| Short-term debt | $3.54B | $2.60B | $3.45B | $4.19B | $2.80B | $3.12B | $5.36B | $1.88B | $3.74B | $2.26B |
| Total current liabilities | $107.47B | $96.58B | $92.42B | $92.20B | $87.38B | $92.64B | $77.79B | $77.48B | $78.52B | $66.93B |
| Long-term debt | $34.62B | $33.40B | $36.13B | $34.65B | $34.86B | $41.19B | $43.71B | $43.52B | $30.05B | $36.02B |
| Retained earnings | $104.77B | $98.31B | $89.81B | $83.14B | $86.90B | $88.76B | $83.94B | $80.78B | $85.11B | $89.35B |
| Total equity | $99.62B | $91.01B | $90.35B | $83.75B | $91.89B | $87.53B | $81.55B | $79.63B | $80.82B | $80.53B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $41.56B | $36.44B | $35.73B | $28.84B | $24.18B | $36.07B | $25.25B | $27.75B | $28.34B | $31.67B |
| Depreciation and amortisation | $14.20B | $12.97B | $11.85B | $10.95B | $10.66B | $11.15B | $10.99B | $10.68B | $10.53B | $10.08B |
| Capital expenditure | $26.64B | $23.78B | $20.61B | $16.86B | $13.11B | $10.26B | $10.71B | $10.34B | $10.05B | $10.62B |
| Investing cash flow | -$26.35B | -$21.38B | -$21.29B | -$17.72B | -$6.01B | -$10.07B | -$9.13B | -$24.04B | -$9.08B | -$13.90B |
| Financing cash flow | -$13.55B | -$14.82B | -$13.41B | -$17.04B | -$22.83B | -$16.12B | -$14.30B | -$2.54B | -$19.88B | -$19.07B |
| Dividends paid | $7.51B | $6.69B | $6.14B | $6.11B | $6.15B | $6.12B | $6.05B | $6.10B | $6.12B | $6.22B |
| Buybacks | $8.09B | $4.49B | $2.78B | $9.92B | $9.79B | $2.62B | $5.72B | $7.41B | $8.30B | $8.30B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-173673.
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