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Friday 23 October 2026 Export WMT’s income statement to Excel — free account

Walmart Inc.

WMT Consumer Defensive Discount Stores

Walmart Inc.’s revenue for fiscal 2026 (year ended January 2026) was $713.2 billion, up 4.73% from fiscal 2025. In the quarter to July 2026, revenue grew 5.94%, EPS fell 9.09%, free cash flow grew 15.8% and total debt rose 14.0%, each against the same quarter a year earlier. Member of the S&P 500, Nasdaq 100 and Dow Jones; dividend growth for ten consecutive years, revenue growth for ten, operating cash flow growth for three.

119.16 1.96 −1.62%
Market cap
$960.9B
P/E
43.7×
Fwd P/E
41.3×
Dividend yield
1.01%
F-score
7/9
Altman Z
6.46
Beneish M
−2.71
Dividend safety
79/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K
Delisting notice
All filings →

Insider Decisions trades per month

Total sells 2,946.98
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 7 7 5 9 7 4 7 5 2 3 3 4
Insider Ownership 44.43%

Capital & Financial Ratios $m

Market Cap 960,940.00
Revenue 735,840.00
Net Income 22,499.00
Free Cash Flow 13,698.00
Net Debt 44,834.00
Current Ratio 0.77 (below 1: weak)
Debt/Equity 0.54
P/E ratio 43.68 (above 35: high)
Fwd P/E 41.30 (above 35: high)
P/S ratio 1.31
P/B ratio 9.21 (above 6: high)
Past 5Y EPS Growth 11.51%
This Y EPS Growth 9.44%
Next Y EPS Growth 11.66%
Next Y revenue growth 5.57%
Next 5Y EPS Growth 11.09%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.4×, against a ten-year median of 0.7×; over the ten years it ranged from 0.5× in 2017 to 1.5× in 2026.
P/E against its own 10 years 88.00%
10-year low 10-year high
P/S against its own 10 years 96.17%
10-year low 10-year high
P/B against its own 10 years 96.39%
10-year low 10-year high
EV/Sales against its own 10 years 96.06%
10-year low 10-year high
EV/FCF against its own 10 years 95.44%
10-year low 10-year high

Dividends

Payout Ratio 0.44
Annual Dividend Rate 1.23
Annual Dividend Yield 1.01%
total individual payouts
2029 Powerpack
2028 Powerpack
2027 Powerpack
2026 0.99
0.25
0.25
0.25
0.25
2025 0.94
0.24
0.24
0.24
0.24
2024 0.83
0.21
0.21
0.21
0.21
2023 0.76
0.19
0.19
0.19
0.19
2022 0.75
0.19
0.19
0.19
0.19
2021 0.73
0.18
0.18
0.18
0.18
2020 0.72
0.18
0.18
0.18
0.18
2019 0.71
0.18
0.18
0.18
0.18
2018 0.69
0.17
0.17
0.17
0.17
2017 0.68
0.17
0.17
0.17
0.17
2016 0.67
0.17
0.17
0.17
0.17
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 9,867 9,037 10,727 11,529
Receivables 8,796 9,975 11,172 11,075
Inventory 54,892 56,435 58,851 61,600
Other — — — —
76,877 79,458 84,874 88,703
2024 2025 2026 Q'26
Payables 56,812 58,666 63,061 64,318
ST’ Debt 4,325 5,666 10,138 13,949
Other — — — —
92,415 96,584 107,469 115,630

Compound Annual Growth %

10y 5y 3y
Sales 3.99% 4.99% 5.27%
Cash Flow 4.20% 2.87% 12.96%
Earnings 4.07% 10.14% 23.30%
Book Value 2.39% 3.88% 8.13%

Revenue $m

Apr Jul Oct Jan Year
’26 177,751 187,937 — — —
’26 165,609 177,402 179,496 190,656 713,163
’25 161,508 169,335 169,588 180,554 680,985
’24 152,301 161,632 160,804 173,388 648,125
’23 141,569 152,859 152,813 164,048 611,289
’22 138,310 141,048 140,525 152,871 572,754
’21 134,622 137,742 134,708 152,079 559,151
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Apr Jul Oct Jan Year
’26 4,738 14,972 — — —
’26 5,411 12,941 9,100 14,113 41,565
’25 4,249 12,108 6,561 13,525 36,443
’24 4,633 13,568 813 16,712 35,726
’23 (3,758) 12,998 6,458 13,143 28,841
’22 2,858 9,565 3,868 7,890 24,181
’21 7,017 11,939 3,924 13,194 36,074
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Apr Jul Oct Jan Year
’26 (1,910) 7,563 — — —
’26 450 6,534 1,910 6,135 15,029
’25 (355) 6,497 438 6,512 13,092
’24 251 8,867 (4,615) 10,867 15,370
’23 (7,262) 9,082 1,943 8,391 12,154
’22 716 6,864 413 3,476 11,469
’21 5,325 10,145 1,071 9,484 26,025
Fiscal quarters ending in the months shown.

EPS $

Apr Jul Oct Jan Year
’26 0.67 0.80 — — —
’26 0.56 0.88 0.77 0.53 2.73
’25 0.63 0.56 0.57 0.65 2.41
’24 0.21 0.97 0.06 0.68 1.91
’23 0.25 0.63 (0.22) 0.77 1.42
’22 0.32 0.51 0.37 0.43 1.62
’21 0.47 0.76 0.60 (0.25) 1.58
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to January

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Price, $
Price, $ Low 21.76 27.26 30.55 34.00 42.09 39.09 45.36 51.87 79.81 102.15 +18.7% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
High 33.38 36.66 41.79 51.22 50.86 53.59 56.65 96.18 117.45 135.16 +16.8% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
People
People Employees 2,300,000 2,300,000 2,200,000 2,200,000 2,300,000 2,300,000 2,100,000 2,100,000 2,100,000 2,100,000 (1.0%) ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Revenue/emp, $m 0.21 0.22 0.23 0.24 0.24 0.25 0.29 0.31 0.32 0.34 +5.4% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Income, $m
Income, $m Revenue 485,873 500,343 514,405 523,964 559,151 572,754 611,289 648,125 680,985 713,163 +4.4% 752,858 785,569 822,281 +4.9%
Gross margin, % 25.65 25.37 25.10 24.69 24.83 25.10 24.14 24.38 24.85 24.93 (0.7) pt
EBT 20,497 15,123 11,460 20,116 20,564 18,696 17,016 21,848 26,309 29,469 +4.1%
EBT margin, % 4.22 3.02 2.23 3.84 3.68 3.26 2.78 3.37 3.86 4.13 (0.1) pt
Net income 14,293 10,523 7,179 15,201 13,706 13,940 11,292 16,270 20,157 22,270 +5.1%
Depreciation 10,080 10,529 10,678 10,987 11,152 10,658 10,945 11,853 12,973 14,203 +3.9%
Per share, $
Per share, $ Revenue 52.23 55.69 58.54 61.28 65.84 68.38 74.81 80.24 84.69 89.34 +6.1%
Earnings 1.47 1.10 0.76 1.74 1.59 1.63 1.43 1.92 2.42 2.74 +7.2%
Cash flow 3.40 3.15 3.16 2.95 4.25 2.89 3.53 4.42 4.53 5.21 +4.8%
Capex (1.09) (1.08) (1.12) (1.21) (1.18) (1.52) (2.04) (2.52) (2.90) (3.32) +13.2%
Free cash flow 2.31 2.08 2.04 1.74 3.06 1.37 1.49 1.90 1.63 1.88 (2.3%)
Book value 8.66 9.00 9.06 9.54 10.31 10.97 10.25 11.19 12.12 13.26 +4.9%
Shares, m 9,303 8,985 8,787 8,550 8,493 8,376 8,171 8,077 8,041 7,983 (1.7%)
Valuation, ×
Valuation, × P/E 15.17 32.40 42.03 21.89 29.20 28.53 33.46 28.69 40.73 45.28 31.7
P/S 0.43 0.64 0.55 0.62 0.71 0.68 0.64 0.69 1.16 1.39 0.7
P/B 2.57 3.95 3.52 4.00 4.50 4.25 4.68 4.92 8.10 9.35 5.0
EV/Sales 0.51 0.72 0.64 0.71 0.76 0.73 0.70 0.74 1.21 1.44 0.8
EV/FCF 11.41 19.20 18.42 24.93 16.33 36.44 35.16 31.31 63.04 68.55 32.5
Cash, $m
Cash, $m Operating cash flow 31,673 28,337 27,753 25,255 36,074 24,181 28,841 35,726 36,443 41,565 +3.1%
Capex (10,163) (9,673) (9,825) (10,384) (10,049) (12,712) (16,687) (20,356) (23,351) (26,536) +11.3%
Free cash flow 21,510 18,664 17,928 14,871 26,025 11,469 12,154 15,370 13,092 15,029 (3.9%)
Balance, $m
Balance, $m Working capital (9,239) (18,857) (15,580) (15,984) (2,578) (6,309) (16,543) (15,538) (17,126) (22,595) +10.4%
Total debt 45,373 45,820 57,304 53,958 48,380 42,320 44,055 46,166 44,990 50,667 +1.2%
Net debt 38,506 39,064 49,582 44,493 30,639 27,560 35,430 36,299 35,953 39,940 +0.4%
Shareholders’ equity 80,535 80,822 79,634 81,552 87,531 91,891 83,754 90,349 97,421 105,887 +3.1%
Returns, %
Returns, % ROA 6.85 4.89 3.15 6.53 5.53 5.50 4.79 6.26 7.57 8.03 +1.2 pt
ROIC 11.95 10.65 10.62 10.20 11.93 13.57 10.71 13.33 13.75 12.78 +0.8 pt
ROE 16.62 12.22 8.31 18.46 15.98 15.24 13.30 17.82 20.70 21.54 +4.9 pt
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jan 2026 · latest quarter Jul 2026

Earnings Trends EPS, adjusted, against the consensus

Q2 FY27 Estimate 0.73 Actual 0.81

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY26 0.61 0.62 Beat by 0.01
Q4 FY26 0.73 0.74 Beat by 0.01
Q1 FY27 0.65 0.66 Beat by 0.01
Q2 FY27 0.73 0.81 Beat by 0.08
Q3 FY27 0.63 — Reports 19 November 2026

Charts ten years each

Walmart Inc. vs peers in Discount Stores (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
WMT Walmart Inc. $960.9B 43.7× 41.3× +5.94% (above 0%: growing) −9.09% (below 0%: shrinking) +15.75% (above 0%: growing) 26.14% 4.99%
COST Costco Wholesale Corporation $451.2B 48.9× 43.4× +11.10% (above 0%: growing) +14.80% (above 0%: growing) +30.72% (above 0%: growing) 12.74% 3.97% Compare
TGT Target Corporation $71.8B 16.3× 14.8× +5.27% (above 0%: growing) +100.49% (above 0%: growing) +141.23% (above 0%: growing) 33.67% 9.65% Compare
DG Dollar General Corporation $30.7B 17.9× 17.0× +5.24% (above 0%: growing) +33.16% (above 0%: growing) −33.98% (below 0%: shrinking) 32.60% 6.81% Compare
DLTR Dollar Tree, Inc. $24.6B 16.0× 15.6× +7.02% (above 0%: growing) +196.70% (above 0%: growing) +4,013.41% (above 0%: growing) 42.91% 14.11% Compare
BJ BJ's Wholesale Club Holdings, Inc. $13.5B 23.0× 21.9× +15.73% (above 0%: growing) +20.18% (above 0%: growing) +165.90% (above 0%: growing) 17.83% 4.05% Compare
TBBB BBB Foods Inc. $6.3B — (loss-making) — (loss-making) +55.49% (above 0%: growing) n/m +1,859.24% (above 0%: growing) 16.75% 1.35% Compare
OLLI Ollie's Bargain Outlet Holdings, Inc. $5.5B 20.6× 20.1× +9.09% (above 0%: growing) +42.00% (above 0%: growing) +19.36% (above 0%: growing) 43.46% 14.63% Compare
PSMT PriceSmart, Inc. $5.3B 33.0× 30.7× +12.49% (above 0%: growing) +12.28% (above 0%: growing) −76.43% (below 0%: shrinking) 17.70% 4.43% Compare
Median of peers $19.0B 20.6× 20.1× +10.10% +33.16% +85.98% 25.22% 5.62%

All 10 Discount Stores stocks →

WMT metrics, ten years each

Walmart Inc. (WMT) key facts

  • Strength: Walmart Inc.’s revenue for fiscal 2026 (year ended January 2026) was $713.2 billion, up 4.73% from fiscal 2025.
  • Strength: Net income was $22.3 billion, or $2.74 per share (basic), a net margin of 3.07%.
  • Walmart Inc. (WMT) is a Discount Stores company in the Consumer Defensive sector, listed on Nasdaq.
  • As of October 23, 2026, WMT traded at $119.16, a market capitalization of $960.9 billion.
  • At that price the stock trades at 43.7× trailing-twelve-month earnings and 1.3× sales; its P/E is higher than 88% of its own readings over the past ten years.
  • Walmart Inc. pays an annual dividend of $1.23 per share, a yield of 1.01%, with a payout ratio of 44.2%.
  • Return on equity was 21.5% and debt-to-equity 0.54.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 6.46 (safe zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.

Financial Analysis (summary)

Updated

Walmart reported revenue of $713.2 billion in FY2026, net income of $22.3 billion in FY2026, and diluted EPS of $2.73 in FY2026. Revenue growth was 4.73% in FY2026 against FY2025, while diluted EPS growth was 13.3% in FY2026 against FY2025. Free cash flow was $15.0 billion in FY2026.

In Q2 FY2027, revenue was $187.9 billion, operating income was $9.4 billion, and net income was $6.5 billion. Revenue increased 5.94% in Q2 FY2027 against Q2 FY2026, while diluted EPS declined −9.09% in Q2 FY2027 against Q2 FY2026. Gross margin was 26.1% in Q2 FY2027 and operating margin was 4.99% in Q2 FY2027.

Walmart Inc. (WMT) Latest News

23 Oct

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22 Oct

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21 Oct

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20 Oct

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stockrow.com/WMT · Data as of Jul 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com