Walmart Inc. engages in the operation of retail and wholesale stores and clubs, ecommerce websites, and mobile applications worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club U.S. It operates supercenters, supermarkets, warehouse clubs, cash and carry stores, and discount stores under Walmart and Walmart Neighborhood Market brands; membership-only warehouse clubs; and ecommerce websites, such as walmart.com.mx, walmart.ca, flipkart.com, PhonePe and other sites. It offers grocery items, including dry grocery, snacks, dairy, meat, produce, deli and bakery, frozen foods, alcoholic and nonalcoholic beverages, as well as consumables, such as health and beauty aids, pet supplies, household chemicals, paper goods, and baby products; and fuel and other categories. In addition, it is involved in the provision of health and wellness products covering pharmacy, optical and hearing services, over-the-counter drugs, and protein and nutrition products; and home, hardlines, and seasonal items, including home improvement, outdoor living, gardening, furniture, apparel, jewelry, tools and power equipment, housewares, toys, and mattresses. Further, the company offers consumer electronics and accessories, software, video games, office supplies, appliances, and third-party gift cards. Additionally, it operates digital payment platforms; offers financial services and related products, including money transfers, bill payments, money orders, check cashing, prepaid access, co-branded credit cards, installment lending, and earned wage access; and markets lines of merchandise under private and licensed brands. The company was formerly known as Wal-Mart Stores, Inc. and changed its name to Walmart Inc. in February 2018. Walmart Inc. was founded in 1945 and is based in Bentonville, Arkansas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2026
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2026 | $713.2B | $46.5B | $21.9B | $14.9B | 22.0% | 4.7% | 12.6% |
| 2025 | $681.0B | $42.0B | $19.4B | $12.7B | 21.4% | 5.1% | 25.3% |
| 2024 | $648.1B | $36.4B | $15.5B | $15.1B | 18.5% | 6.0% | 32.8% |
| 2023 | $611.3B | $30.1B | $11.7B | $12.0B | 15.2% | - | - |
| 2022 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Total Revenue | - | 611,289 | 648,125 | 680,985 | 713,163 |
| Operating Revenue | - | 611,289 | 648,125 | 680,985 | 713,163 |
| Cost Of Revenue | - | 463,721 | 490,142 | 511,753 | 535,395 |
| Gross Profit | - | 147,568 | 157,983 | 169,232 | 177,768 |
| Operating Expense | - | 127,140 | 130,971 | 139,884 | 147,943 |
| Selling General And Administration | 117,812 | 127,140 | 130,971 | 139,884 | - |
| Total Expenses | - | 590,861 | 621,113 | 651,637 | 683,338 |
| Operating Income | - | 20,428 | 27,012 | 29,348 | 29,825 |
| Total Operating Income As Reported | - | 20,428 | 27,012 | 29,348 | 29,825 |
| EBITDA | - | 30,089 | 36,384 | 42,010 | 46,471 |
| Normalized EBITDA | - | 30,089 | 36,384 | 42,010 | 46,471 |
| EBIT | - | 19,144 | 24,531 | 29,037 | 32,268 |
| Interest Income | - | 254 | 546 | 483 | 368 |
| Interest Expense | - | 2,128 | 2,683 | 2,728 | 2,799 |
| Net Interest Income | - | -1,874 | -2,137 | -2,245 | -2,431 |
| Other Non Operating Income Expenses | - | -1,538 | -3,027 | -794 | 2,075 |
| Other Income Expense | - | -1,538 | -3,027 | -794 | 2,075 |
| Interest Income Non Operating | - | 254 | 546 | 483 | 368 |
| Interest Expense Non Operating | - | 2,128 | 2,683 | 2,728 | 2,799 |
| Net Non Operating Interest Income Expense | - | -1,874 | -2,137 | -2,245 | -2,431 |
| Pretax Income | - | 17,016 | 21,848 | 26,309 | 29,469 |
| Tax Provision | - | 5,724 | 5,578 | 6,152 | 7,199 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 11,292 | 16,270 | 20,157 | 22,270 |
| Net Income From Continuing And Discontinued Operation | - | 11,680 | 15,511 | 19,436 | 21,893 |
| Net Income From Continuing Operation Net Minority Interest | - | 11,680 | 15,511 | 19,436 | 21,893 |
| Net Income | - | 11,680 | 15,511 | 19,436 | 21,893 |
| Net Income Common Stockholders | - | 11,680 | 15,511 | 19,436 | 21,893 |
| Net Income Including Noncontrolling Interests | - | 11,292 | 16,270 | 20,157 | 22,270 |
| Normalized Income | - | 11,680 | 15,511 | 19,436 | 21,893 |
| Diluted NI Availto Com Stockholders | - | 11,680 | 15,511 | 19,436 | 21,893 |
| Basic Average Shares | - | 8,172 | 8,076 | 8,041 | 7,983 |
| Diluted Average Shares | - | 8,202 | 8,109 | 8,081 | 8,022 |
| Reconciled Depreciation | - | 10,945 | 11,853 | 12,973 | 14,203 |
| Reconciled Cost Of Revenue | - | 463,721 | 490,142 | 511,753 | 535,395 |
| Total Unusual Items | -2,410 | 0 | 0 | - | - |
| Total Unusual Items Excluding Goodwill | -2,410 | 0 | 0 | - | - |
| Minority Interests | - | 388 | -759 | -721 | -377 |
| Special Income Charges | -2,410 | 0 | 0 | - | - |
| Other Special Charges | 2,410 | - | - | - | - |
| Other Operating Expenses | - | 127,140 | 130,971 | 139,884 | 147,943 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Walmart Inc.this co. | WMT | $937.0B | 42.80β premium | 9.41 | 22.0% | 21.38 |
| Costco Wholesale Corporation | COST | $431.2B | 53.24 | 14.79 | 27.8% | 31.74 |
| The Coca-Cola Company | KO | $330.5B | 25.22 | 10.27 | 40.7% | 19.56 |
| The Procter & Gamble Company | PG | $327.8B | 20.90 | 6.30 | 30.2% | 14.79 |
| Philip Morris International Inc. | PM | $272.7B |
| - |
| - |
| - |
| - |
| 24.03 |
| -27.29 |
| -113.5% |
| 18.14 |
| PepsiCo, Inc. | PEP | $194.3B | 23.58 | 9.52 | 40.4% | 15.12 |
| Altria Group, Inc. | MO | $117.9B | 16.97 | -33.66 | -198.4% | 12.84 |
| Monster Beverage Corporation | MNST | $86.6B | 45.45 | 10.49 | 23.1% | 33.23 |
| Mondelez International, Inc. | MDLZ | $78.3B | 31.94 | 3.03 | 9.5% | 19.71 |
| Peer Median | - | 24.63 | 7.91 | 25.4% | 18.85 | |