Walmart Inc. WMT

Consumer discretionary SIC 5331 - Retail-Variety Stores NAICS Retail Trade › General Merchandise Retailers › Warehouse Clubs, Supercenters, and Other General Merchandise Retailers › All Other General Merchandise Retailers derived Nasdaq

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.

Last close 119.89 2026-10-23
Market cap $951.18B 2026-07-31 share count
52-week range 98.88 - 135.16

Valuation FY2025 figures against the last close

P/S1.3x
P/E43.9x
P/FCF63.7x
EV/EBITDA22.2x
Dividend yield0.8%
Diluted EPS2.73

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • U.S.
  • Non-U.S. operations
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 U.S., FY2025: 581.2B (81.5%) 81% U.S. Non-U.S. operations, FY2025: 132B (18.5%) 19% Non-U.S. operations FY2024 U.S., FY2024: 557.6B (81.9%) 82% Non-U.S. operations, FY2024: 123.4B (18.1%) 18% FY2023 U.S., FY2023: 532.1B (82.1%) 82% Non-U.S. operations, FY2023: 116B (17.9%) 18%
Region FY2025FY2024FY2023
U.S. $581.17B $557.62B $532.08B
Non-U.S. operations $131.99B $123.36B $116.05B

As the company reported it, from the “Segments and Disaggregated Revenue - Segment Revenues and Long-Lived Assets (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • Walmart U.S.
  • Walmart International
  • Sam's Club U.S.
Revenue by segment, 3 categories over 3 years. The same figures are in the table below. FY2025 Walmart U.S., FY2025: 485.6B (68.1%) 68% Walmart U.S. Walmart International, FY2025: 132B (18.5%) 19% Walmart International Sam's Club U.S., FY2025: 95.5B (13.4%) 13% Sam's Club U.S. FY2024 Walmart U.S., FY2024: 465B (68.3%) 68% Walmart International, FY2024: 123.4B (18.1%) 18% Sam's Club U.S., FY2024: 92.6B (13.6%) 14% FY2023 Walmart U.S., FY2023: 443.8B (68.5%) 68% Walmart International, FY2023: 116B (17.9%) 18% Sam's Club U.S., FY2023: 88.2B (13.6%) 14%
Segment FY2025FY2024FY2023
Walmart U.S. $485.60B $465.01B $443.80B
Walmart International $131.99B $123.36B $116.05B
Sam's Club U.S. $95.54B $92.56B $88.23B

As the company reported it, from the “Segments and Disaggregated Revenue - Schedule of Segment Reporting Information by Segment (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 2.742.421.921.431.634.775.222.283.294.40
EPS, diluted 2.732.411.911.421.624.755.192.263.284.38
Shares, diluted (wtd. avg.) 8.02B8.08B8.11B8.20B8.41B2.85B2.87B2.94B3.01B3.11B

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 200B 400B 600B 800B Revenue, FY2016: 481.3B Gross profit, FY2016: 120.1B Net income, FY2016: 13.6B Revenue, FY2017: 495.8B Gross profit, FY2017: 122.4B Net income, FY2017: 9.9B Revenue, FY2018: 510.3B Gross profit, FY2018: 125B Net income, FY2018: 6.7B Revenue, FY2019: 519.9B Gross profit, FY2019: 125.3B Net income, FY2019: 14.9B Revenue, FY2020: 555.2B Gross profit, FY2020: 134.9B Net income, FY2020: 13.5B Revenue, FY2021: 567.8B Gross profit, FY2021: 138.8B Net income, FY2021: 13.7B Revenue, FY2022: 605.9B Gross profit, FY2022: 142.2B Net income, FY2022: 11.7B Revenue, FY2023: 642.6B Gross profit, FY2023: 152.5B Net income, FY2023: 15.5B Revenue, FY2024: 674.5B Gross profit, FY2024: 162.8B Net income, FY2024: 19.4B Revenue, FY2025: 706.4B Gross profit, FY2025: 171B Net income, FY2025: 21.9B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $481.32B $495.76B $510.33B $519.93B $555.23B $567.76B $605.88B $642.64B $674.54B $706.41B
Gross profit $120.06B $122.36B $125.03B $125.32B $134.92B $138.76B $142.16B $152.50B $162.78B $171.02B
Net income $13.64B $9.86B $6.67B $14.88B $13.51B $13.67B $11.68B $15.51B $19.44B $21.89B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Other event Item 8.01
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 5331

TickerCompanyMarket capP/ERevenue growth
COST COSTCO WHOLESALE CORP /NEW $444.95B 55.1x 8.2%
TGT TARGET CORP $69.40B 18.8x -1.7%
DG DOLLAR GENERAL CORP $29.27B 19.4x 5.2%
DLTR DOLLAR TREE, INC. $23.51B 20.1x 10.4%
BJ BJ's Wholesale Club Holdings, Inc. $13.37B 24.2x 4.7%
FIVE FIVE BELOW, INC $12.29B 34.5x 22.9%
PSMT PRICESMART INC $5.28B 35.5x 7.2%
OLLI Ollie's Bargain Outlet Holdings, Inc. $5.21B 22.6x 16.6%