Walmart Inc. (WMT) Income Statement
WMT FY2026 at a glance
Fiscal year ended January 31, 2026 · U.S. dollarsWMT revenue and net income
Where WMT's revenue goes
FY2026Each bar shows an amount and its share of revenue. WMT kept 3.1% of revenue as net income.
WMT profit margins
WMT growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +4.7% | +5.3% | +5.0% | +4.0% |
| Gross profit | +5.0% | +6.4% | +5.1% | +3.9% |
| Operating income | +1.6% | +13.4% | +5.8% | +2.2% |
| Net income | +12.6% | +23.3% | +10.1% | +4.1% |
| EPS (diluted) | +15.8% | +25.0% | +8.9% | +6.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WMT quarterly EPS vs estimates
Walmart beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 19, 2026 (estimate $0.63).
WMT income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $713.16B | $680.99B | $648.12B | $611.29B | $572.75B | $559.15B | $523.96B | $514.40B | $500.34B | $485.87B |
| 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 |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $147.94B | $139.88B | $130.97B | $127.14B | $117.81B | $116.29B | $108.79B | $107.15B | $106.51B | $101.85B |
| Total 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 |
| Interest income | $368.0M | $483.0M | $546.0M | $1.87B | $1.84B | $121.0M | $189.0M | $217.0M | $152.0M | $100.0M |
| Interest expense | $2.80B | $2.73B | $2.68B | $2.13B | $1.99B | $2.31B | $2.60B | $2.35B | $2.33B | $2.37B |
| Income before taxes | $29.47B | $26.31B | $21.85B | $17.02B | $18.70B | $20.56B | $20.12B | $11.46B | $15.12B | $20.50B |
| Income taxes | $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 |
| EBITDA | $46.47B | $42.01B | $36.38B | $30.09B | $31.35B | $34.03B | $33.70B | $24.48B | $27.98B | $32.84B |
| EPS (diluted) | $2.79 | $2.41 | $1.92 | $1.43 | $1.63 | $1.82 | $1.65 | $1.64 | $1.46 | $1.45 |
| Gross margin | 24.9% | 24.9% | 24.4% | 24.1% | 25.1% | 24.8% | 24.7% | 25.1% | 25.4% | 25.6% |
| Operating margin | 4.2% | 4.3% | 4.2% | 3.3% | 4.5% | 4.0% | 3.9% | 4.3% | 4.1% | 4.7% |
| Net margin | 3.1% | 2.9% | 2.4% | 1.9% | 2.4% | 2.4% | 2.8% | 1.3% | 2.0% | 2.8% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $187.94B | $177.75B | $190.66B | $179.50B | $177.40B | $165.61B | $180.55B | $169.59B | $169.34B | $161.51B | $173.39B | $160.80B |
| Cost of revenue | $138.80B | $133.06B | $143.62B | $134.71B | $132.77B | $124.30B | $136.17B | $127.34B | $126.81B | $121.43B | $131.82B | $121.18B |
| Gross profit | $49.13B | $44.69B | $47.04B | $44.79B | $44.63B | $41.31B | $44.38B | $42.25B | $42.52B | $40.08B | $41.56B | $39.62B |
| Sales, general & admin | $39.75B | $37.20B | $38.33B | $38.09B | $37.34B | $34.17B | $36.52B | $35.54B | $34.59B | $33.24B | $34.31B | $33.42B |
| Total operating expenses | $39.75B | $37.20B | $38.33B | $38.09B | $37.34B | $34.17B | $36.52B | $35.54B | $34.59B | $33.24B | $34.31B | $33.42B |
| Operating income | $9.38B | $7.49B | $8.71B | $6.70B | $7.29B | $7.13B | $7.86B | $6.71B | $7.94B | $6.84B | $7.25B | $6.20B |
| Interest income | $92.0M | $79.0M | $88.0M | $93.0M | $94.0M | $93.0M | $115.0M | $140.0M | $114.0M | $114.0M | $146.0M | $145.0M |
| Interest expense | $263.0M | $699.0M | $709.0M | $684.0M | $769.0M | $637.0M | $717.0M | $618.0M | $679.0M | $714.0M | $695.0M | $682.0M |
| Income before taxes | $8.01B | $7.15B | $5.97B | $8.19B | $9.32B | $5.99B | $6.96B | $6.10B | $6.21B | $7.04B | $7.52B | $915.0M |
| Income taxes | $1.48B | $1.66B | $1.58B | $2.10B | $2.17B | $1.35B | $1.54B | $1.38B | $1.50B | $1.73B | $1.84B | $272.0M |
| Net income | $6.37B | $5.33B | $4.24B | $6.14B | $7.03B | $4.49B | $5.25B | $4.58B | $4.50B | $5.10B | $5.49B | $453.0M |
| EBITDA | $12.20B | $11.67B | $10.42B | $12.48B | $13.57B | $10.00B | $11.05B | $9.98B | $10.10B | $10.88B | $11.33B | $4.58B |
| EPS (diluted) | $0.81 | $0.66 | $0.53 | $0.77 | $0.88 | $0.61 | $0.65 | $0.57 | $0.56 | $0.63 | $0.68 | $0.06 |
| Gross margin | 26.1% | 25.1% | 24.7% | 25.0% | 25.2% | 24.9% | 24.6% | 24.9% | 25.1% | 24.8% | 24.0% | 24.6% |
| Operating margin | 5.0% | 4.2% | 4.6% | 3.7% | 4.1% | 4.3% | 4.4% | 4.0% | 4.7% | 4.2% | 4.2% | 3.9% |
| Net margin | 3.4% | 3.0% | 2.2% | 3.4% | 4.0% | 2.7% | 2.9% | 2.7% | 2.7% | 3.2% | 3.2% | 0.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WMT's financial statements (latest annual report filed March 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WMT financial results
In fiscal year 2026 (ended January 31, 2026), Walmart reported revenue of $713.2 billion, up 4.7% from the year before. It had net income of $21.9 billion (up 12.6%), a net profit margin of 3.1%. Diluted earnings per share came to $2.79. Over five years revenue grew at an average rate of 5.0% a year.
See the WMT stock overview for the latest quote and news, or the WMT chart for price history and technical indicators.
WMT income statement FAQ
What is Walmart's annual revenue?
Walmart reported total revenue of $713.2 billion for fiscal year 2026, which ended on January 31, 2026. That was up 4.7% from $681.0 billion the previous year.
Is Walmart profitable?
Yes. Walmart reported net income of $21.9 billion in fiscal 2026, a net profit margin of 3.1%; its operating margin was 4.2%.
What is Walmart's gross margin?
Walmart's gross margin was 24.9% in fiscal 2026: for every $100 of revenue, Walmart kept $25 after the direct cost of its products and services.
How fast is Walmart growing?
Revenue grew 5.0% a year on average over the last five fiscal years, from $559.2 billion to $713.2 billion.
What are Walmart's earnings per share?
Walmart earned $2.79 per diluted share in fiscal 2026, compared with $2.41 a year earlier.
When will Walmart report its next earnings?
Walmart is expected to report results for the quarter ending October 31, 2026 on November 19, 2026 before the market opens.
When does Walmart's fiscal year end?
Walmart's fiscal year ends in January. The latest annual report covers the year ended January 31, 2026 and was filed on March 13, 2026.