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WMT

Walmart Inc.

WMT

Walmart Inc. • NYSE
$110.51 ▲ 1.29% (+1.41)
Market Cap $881.08 B
52w High $110.70
52w Low $79.81
Dividend Yield 0.91%
P/E 38.64
Volume 9.82M
Outstanding Shares 7.97B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2026 $179.496B ▲ $38.094B ▲ $6.143B ▼ 3.422% ▼ $0.77 ▼ $10.302B ▼
Q2-2026 $177.402B ▲ $37.345B ▲ $7.026B ▲ 3.96% ▲ $0.88 ▲ $13.575B ▲
Q1-2026 $165.609B ▼ $34.171B ▼ $4.487B ▼ 2.709% ▼ $0.56 ▼ $10B ▼
Q4-2025 $180.554B ▲ $36.523B ▲ $5.254B ▲ 2.91% ▲ $0.65 ▲ $11.054B ▲
Q3-2025 $169.588B $35.54B $4.577B 2.699% $0.57 $9.976B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2026 $10.582B ▲ $288.655B ▲ $192.561B ▲ $96.094B ▲
Q2-2026 $9.431B ▲ $270.837B ▲ $173.98B ▲ $90.11B ▲
Q1-2026 $9.311B ▲ $262.372B ▲ $171.724B ▲ $83.793B ▼
Q4-2025 $9.037B ▼ $260.823B ▼ $163.131B ▼ $91.013B ▲
Q3-2025 $10.049B $263.399B $168.934B $88.108B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2026 $6.088B ▼ $9.1B ▼ $-7.831B ▼ $-19M ▲ $1.22B ▲ $19.072B ▲
Q2-2026 $7.151B ▲ $12.941B ▲ $-6.106B ▼ $-7.001B ▼ $-55M ▼ $6.518B ▲
Q1-2026 $4.639B ▼ $5.411B ▼ $-5.093B ▲ $8M ▲ $396M ▲ $425M ▼
Q4-2025 $5.425B ▲ $13.525B ▲ $-8.718B ▼ $-5.149B ▼ $-632M ▼ $6.438B ▲
Q3-2025 $4.714B $6.561B $-2.533B $-2.728B $1.289B $372M

Revenue by Products

Product Q3-2025Q4-2025Q1-2026Q2-2026
Sams Club
Sams Club
 $22.85Bn ▲$23.10Bn ▲$22.06Bn ▼$23.64Bn ▲
Walmart International
Walmart International
 $30.28Bn ▲$32.21Bn ▲$29.75Bn ▼$31.20Bn ▲
Walmart U S
Walmart U S
 $114.88Bn ▲$123.52Bn ▲$112.16Bn ▼$120.91Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Walmart’s sales have grown steadily over the past five years, showing that customer demand has remained strong even through inflation and shifting shopping habits. Profitability dipped a bit in the middle of the period as costs rose, but margins have since recovered and are now meaningfully stronger than a few years ago. Net income and earnings per share are both climbing at a faster pace than revenue, which suggests better cost control, improved mix of higher-margin businesses, and benefits from scale. The main risk is that retail is still a thin-margin business, so sharp changes in input costs, promotions, or wage pressure can quickly squeeze profits again.

Balance Sheet

Balance Sheet The balance sheet looks solid and fairly conservative for a company of this size. Total assets and shareholders’ equity have been trending upward, which points to a business that is building value over time rather than just standing still. Debt levels are significant but stable, indicating that leverage is being used consistently rather than ramped up aggressively. Cash on hand has come down from earlier highs, but given the company’s reliable cash generation, this looks more like an optimization choice than a sign of strain. Overall, Walmart appears financially sturdy, though not debt‑free, with enough balance sheet strength to keep investing and absorbing shocks.

Cash Flow

Cash Flow Walmart generates strong and dependable cash flow from its day‑to‑day operations, which is a key strength for a retailer operating at massive scale. Free cash flow has remained positive each year, even as the company has stepped up its spending on technology, supply chain, and store modernization. Capital spending has grown noticeably, showing a clear choice to reinvest heavily in the business rather than maximize near‑term cash surplus. The upside is long-term competitiveness and efficiency; the trade‑off is that near‑term free cash flow is more modest than it would be with lighter investment. The main watchpoint is whether these large investments continue to translate into higher profitability and better customer experience over time.

Competitive Edge

Competitive Edge Walmart’s competitive position is anchored in its size, everyday low price promise, and broad reach across the country, especially in areas where many rivals have limited presence. Its massive store base doubles as a logistics and pickup network, which supports a powerful omnichannel model that pure online competitors struggle to copy. Strong private brands, a wide product assortment, and added services like pharmacies, financial services, and basic healthcare deepen customer loyalty and keep shoppers in the ecosystem. At the same time, Walmart faces intense competition from Amazon, dollar stores, club retailers, and grocery chains, which means it must continuously defend its value proposition and keep improving convenience and service. Its scale is a clear advantage, but the retail battlefield remains highly competitive and price-sensitive.

Innovation and R&D

Innovation and R&D Walmart is leaning hard into technology to strengthen its moat, focusing on automation, data, and digital experiences rather than traditional lab-style R&D. The company is automating warehouses and parts of store operations, rolling out robotics and AI-driven inventory tools to cut costs and improve product availability. Its investments in e-commerce, same‑day fulfillment, drones, and autonomous delivery aim to close convenience gaps with online rivals and make better use of its physical footprint. AI is being embedded in pricing, personalization, workforce tools, and customer search, while new initiatives like Walmart Connect (advertising), Walmart+ (membership), and “Store of the Future” concepts push into higher-margin, more digital revenue streams. The opportunity is to turn a traditional retailer into a tech-enabled platform; the risk lies in execution, technology adoption at scale, and staying ahead of sophisticated competitors like Amazon and Target.

Summary

Overall, Walmart looks like a mature, resilient retailer that is successfully growing both its top line and its profitability while modernizing its business model. The company combines a strong balance sheet and dependable cash generation with aggressive investment in automation, digital capabilities, and higher-margin services. Its scale, brand, and store network underpin a durable competitive position, especially for value-focused consumers and everyday essentials. Key uncertainties include ongoing price competition, cost pressures (labor and supply chain), and the challenge of executing large technology and automation programs without disrupting operations. If Walmart continues to balance low prices, innovation, and disciplined financial management, it is positioned to remain a dominant player in global retail for many years, though always within a highly competitive and low-margin industry.

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