MethodologyAbout
Search
Menu
US · Nasdaq WMT

Walmart (WMT) financial statements: income, balance sheet and cash flow

Nasdaq: WMT · Consumer staples · United States

Signed off by OffScriptBySami on  · Updated

Data as of  · For information only, not investment advice.

In brief

Walmart (Nasdaq: WMT) reported revenue of USD 188 billion and net income of USD 6.37 billion for Q2 FY2027, the quarter ended 31 Jul 2026, in its Form 10-Q. Total debt was USD 50.4 billion against cash and short-term investments of USD 11.5 billion, leaving net debt of USD 38.9 billion by our calculation.

Data as of Source: Form 10-Q for Q2 FY2027, filed

Key facts

Data as of

Walmart (Nasdaq: WMT) · USD · fiscal year ends 31 January · figures from SEC filings; derived values are marked.

Revenue, TTM (USD bn)
736
TTM to · derived
Revenue by quarter, from USD 170 bn in Q3 FY2025 to USD 188 bn in Q2 FY2027
Operating income, TTM (USD bn)
32.3
TTM to · derived
Net income, TTM (USD bn)
22.1
TTM to · derived
Free cash flow, TTM (USD bn)
13.5
TTM to · derived
Total assets (USD bn)
294
at · Form 10-Q
Net debt (USD bn)
38.9
at · derived: total debt minus cash and short-term investments

What the numbers show

Walmart's income statement for Q2 FY2027, the quarter ended 31 Jul 2026, shows revenue of USD 188 billion, up 5.9% on a year earlier. Operating income was USD 9.38 billion, an operating margin of 5.0%, our calculation, against 4.1% in Q2 FY2026. Net income was USD 6.37 billion, down from USD 7.03 billion a year earlier.

Annual revenue grew from USD 573 billion in FY2022 to USD 713 billion in FY2026, the year ended 31 Jan 2026, a compound annual growth rate of 5.6%, our calculation. Operating income grew 3.5% a year over the same run and net income 12.5%. The gap sits below operating income. Pre-tax income was USD 18.7 billion in FY2022 against operating income of USD 25.9 billion. In FY2026 the two were USD 29.5 billion and USD 29.8 billion.

Walmart's balance sheet held total assets of USD 294 billion at 31 Jul 2026, up from USD 245 billion at 31 Jan 2022. Net property, plant and equipment grew from USD 94.5 billion to USD 142 billion over those dates, and inventory was USD 61.6 billion at the later one. Current liabilities exceeded current assets at every period-end shown; at 31 Jul 2026 they were USD 116 billion and USD 88.7 billion.

Total debt, the sum of short-term and long-term borrowings, was USD 50.4 billion at 31 Jul 2026, against USD 44.8 billion at 31 Jan 2026. With cash and short-term investments of USD 11.5 billion, net debt was USD 38.9 billion, our calculation. Inventory was USD 65.4 billion at 31 Oct 2025 and USD 58.9 billion at 31 Jan 2026.

A 10-Q reports cash flows year to date, so the Q2 FY2027 cash flow figures are our derivation, marked D. Cash from operations was USD 15.0 billion in Q2 FY2027, against USD 4.74 billion in Q1 FY2027. Capital expenditure was USD 7.50 billion, so free cash flow, our calculation, was USD 7.48 billion for the quarter and USD 13.5 billion for the 4 quarters to 31 Jul 2026. For FY2026 it was USD 14.9 billion, after capital expenditure of USD 26.6 billion.

Diluted EPS was USD 0.80 per share in Q2 FY2027 and USD 2.73 per share in FY2026. The diluted share count went from 8,415 million shares in FY2022 to 8,022 million shares in FY2026, and diluted EPS grew 13.9% a year over that run, our calculation. Walmart split its stock 3-for-1 in February 2024. The FY2022 and FY2023 per-share figures come from the FY2024 10-K, which states them after the split, so they carry no adjustment marker; Walmart stock fundamentals covers the split.

Income statement

Chart 1

Walmart quarterly revenue, Q3 FY2025 to Q2 FY2027

USD bn · quarters ended to

Revenue by quarter, from USD 170 bn in Q3 FY2025 to USD 188 bn in Q2 FY2027.050100150200187.9Q3FY25Q4Q1FY26Q2Q3Q4Q1FY27Q2stockfactsheet.com
Source: Walmart Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

Report an error in this table
Download CSV

Swipe for earlier periods

Table 1 Walmart income statement, annual, FY2022–FY2026 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends 31 January
USD mFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended CAGRFY22–FY26
Revenue713,163680,985648,125611,289572,754increased 5.6%
Revenue YoY %increased 4.7%increased 5.1%increased 6.0%increased 6.7%increased 2.4%not available
Cost of revenue535,395511,753490,142463,721429,000increased 5.7%
Gross profit177,768 D169,232 D157,983 D147,568 D143,754 Dincreased 5.5%
Gross margin %24.9%24.9%24.4%24.1%25.1%not available
SG&A147,943139,884130,971127,140117,812increased 5.9%
Operating income29,82529,34827,01220,42825,942increased 3.5%
Operating margin %4.2%4.3%4.2%3.3%4.5%not available
Net interest−2,431−2,245−2,137−1,874−1,836n/m
Pre-tax income29,46926,30921,84817,01618,696increased 12.0%
Income tax7,1996,1525,5785,7244,756increased 10.9%
Net income21,89319,43615,51111,68013,673increased 12.5%
Net margin %3.1%2.9%2.4%1.9%2.4%not available
Per share
Diluted EPS (USD)2.732.411.911.42 11.62 1increased 13.9%
Diluted shares (m)8,0228,0818,1088,202 18,415 1not available
(opens in new tab)

Source: Walmart Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Combined from line items reported in the same filing (see Methodology).
  • Not available
  • Not meaningful

CAGR: compound annual growth rate from FY2022 to FY2026, our calculation; n/m when the endpoints differ in sign or the base is zero or negative.

1 As presented in Form 10-K filed .

Totals may not add up because of rounding.

Arrows show direction of change only, not whether a change is good or bad.

Quarterly

Report an error in this table
Download CSV

Swipe for earlier periods

Table 2 Walmart income statement, quarterly, Q3 FY2025–Q2 FY2027 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends 31 January
USD mQ2 FY2027ended Q1 FY2027ended Q4 FY2026ended Q3 FY2026ended Q2 FY2026ended Q1 FY2026ended Q4 FY2025ended Q3 FY2025ended
Revenue187,937177,751190,656 D179,496177,402165,609180,554 D169,588
Revenue YoY %increased 5.9%increased 7.3%increased 5.6%increased 5.8%increased 4.8%increased 2.5%increased 4.1%increased 5.5%
Cost of revenue138,804133,058143,615 D134,706132,771124,303136,172 D127,340
Gross profit49,133 D44,693 D47,041 D44,790 D44,631 D41,306 D44,382 D42,248 D
Gross margin %26.1%25.1%24.7%25.0%25.2%24.9%24.6%24.9%
SG&A39,75037,20038,333 D38,09437,34534,17136,523 D35,540
Operating income9,3837,4938,708 D6,6967,2867,1357,859 D6,708
Operating margin %5.0%4.2%4.6%3.7%4.1%4.3%4.4%4.0%
Net interest−171−620−621 D−591−675−544−602 D−478
Pre-tax income8,0127,1485,970 D8,1869,3195,9946,963 D6,098
Income tax1,4831,6581,578 D2,0982,1681,3551,538 D1,384
Net income6,3665,3304,237 D6,1437,0264,4875,254 D4,577
Net margin %3.4%3.0%2.2%3.4%4.0%2.7%2.9%2.7%
Per share
Diluted EPS (USD)0.800.67not available0.770.880.56not available0.57
Diluted shares (m)7,9787,999not available8,0118,0168,051not available8,082
(opens in new tab)

Source: Walmart Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • D Combined from line items reported in the same filing (see Methodology).
  • Not available

Totals may not add up because of rounding.

Arrows show direction of change only, not whether a change is good or bad.

Balance sheet

Annual

Report an error in this table
Download CSV

Swipe for earlier periods

Table 3 Walmart assets, annual, FY2022–FY2026 (USD millions) USD millions
USD mFY2026at FY2025at FY2024at FY2023at FY2022at
Cash and short-term investments10,7279,0379,8678,62514,760
Receivables11,1729,9758,7967,9338,280
Inventory58,85156,43554,89256,57656,511
Total current assets84,87479,45876,87775,65581,070
PP&E (net)136,083119,993110,810100,76094,515
Goodwill and intangibles28,735 D28,792 D28,113 D28,174 D29,014 D
Total assets284,668260,823252,399243,197244,860
(opens in new tab)

Source: Walmart Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.

Totals may not add up because of rounding.

Report an error in this table
Download CSV

Swipe for earlier periods

Table 4 Walmart liabilities and shareholders' equity, annual, FY2022–FY2026 (USD millions) USD millions · net cash shown as a negative net debt
USD mFY2026at FY2025at FY2024at FY2023at FY2022at
Current liabilities107,46996,58492,41592,19887,379
Total debt44,762 D39,067 D40,457 D39,212 D38,077 D
Total liabilities178,781 D163,402 D162,050 D159,443 D152,969 D
Shareholders' equity99,61791,01383,86176,69383,253
Net debt / (net cash)34,035 D30,030 D30,590 D30,587 D23,317 D
(opens in new tab)

Source: Walmart Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Total debt = short-term debt + long-term debt, from the same filing.
  • D Total liabilities = total liabilities and equity − total equity, from the same filing.
  • D Net debt = total debt minus cash and short-term investments; a negative value is net cash.

Totals may not add up because of rounding.

Quarterly

Report an error in this table
Download CSV

Swipe for earlier periods

Table 5 Walmart assets, quarterly, Q3 FY2025–Q2 FY2027 (USD millions) USD millions
USD mQ2 FY2027at Q1 FY2027at Q4 FY2026at Q3 FY2026at Q2 FY2026at Q1 FY2026at Q4 FY2025at Q3 FY2025at
Cash and short-term investments11,52910,72910,72710,5829,4319,3119,03710,049
Receivables11,07510,66211,17212,11510,5189,6869,97510,039
Inventory61,60062,57058,85165,35457,72957,46756,43563,302
Total current assets88,70388,39484,87492,92082,03380,25379,45886,938
PP&E (net)142,482137,789136,083130,201125,476121,261119,993116,598
Goodwill and intangibles28,260 D28,152 D28,735 D28,722 D29,060 D28,866 D28,792 D27,942 D
Total assets293,914289,607284,668288,655270,837262,372260,823263,399
(opens in new tab)

Source: Walmart Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.

Totals may not add up because of rounding.

Report an error in this table
Download CSV

Swipe for earlier periods

Table 6 Walmart liabilities and shareholders' equity, quarterly, Q3 FY2025–Q2 FY2027 (USD millions) USD millions · net cash shown as a negative net debt
USD mQ2 FY2027at Q1 FY2027at Q4 FY2026at Q3 FY2026at Q2 FY2026at Q1 FY2026at Q4 FY2025at Q3 FY2025at
Current liabilities115,630114,583107,469115,732103,566102,92096,584102,558
Total debt50,411 D51,456 D44,762 D46,369 D43,488 D46,200 D39,067 D40,470 D
Total liabilities189,408 D188,925 D178,781 D186,449 D174,287 D172,031 D163,402 D169,123 D
Shareholders' equity98,23894,33099,61796,09490,11083,79391,01388,108
Net debt / (net cash)38,882 D40,727 D34,035 D35,787 D34,057 D36,889 D30,030 D30,421 D
(opens in new tab)

Source: Walmart Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Total debt = short-term debt + long-term debt, from the same filing.
  • D Total liabilities = total liabilities and equity − total equity, from the same filing.
  • D Net debt = total debt minus cash and short-term investments; a negative value is net cash.

Totals may not add up because of rounding.

Cash flow

Chart 2

Walmart quarterly free cash flow, Q3 FY2025 to Q2 FY2027

USD bn · quarters ended to

Free cash flow by quarter, from USD 372 m in Q3 FY2025 to USD 7.48 bn in Q2 FY2027.−2.50.02.55.07.5−1.97.5Q3FY25Q4Q1FY26Q2Q3Q4Q1FY27Q2stockfactsheet.com
Source: Walmart Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

Report an error in this table
Download CSV

Swipe for earlier periods

Table 7 Walmart cash flow, annual, FY2022–FY2026 (USD millions) USD millions · outflows shown with a minus sign
USD mFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended
Cash from operations41,56536,44335,72628,84124,181
Capital expenditure−26,642−23,783−20,606−16,857−13,106
Free cash flow14,923 D12,660 D15,120 D11,984 D11,075 D
Dividends paid−7,507−6,688−6,140−6,114−6,152
Share buybacks−8,088−4,494−2,779−9,920−9,787
Cash from investing−26,350−21,379−21,287−17,722−6,015
Cash from financing−13,553−14,822−13,414−17,039−22,828
(opens in new tab)

Source: Walmart Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Free cash flow = cash from operations minus capital expenditure.

Totals may not add up because of rounding.

Quarterly

Report an error in this table
Download CSV

Swipe for earlier periods

Table 8 Walmart cash flow, quarterly, Q3 FY2025–Q2 FY2027 (USD millions) USD millions · outflows shown with a minus sign
USD mQ2 FY2027ended Q1 FY2027ended Q4 FY2026ended Q3 FY2026ended Q2 FY2026ended Q1 FY2026ended Q4 FY2025ended Q3 FY2025ended
Cash from operations14,972 D4,73814,113 D9,100 D12,941 D5,41113,525 D6,561 D
Capital expenditure−7,497 D−6,684−8,015 D−7,218 D−6,423 D−4,986−7,087 D−6,189 D
Free cash flow7,475 D−1,946 D6,098 D1,882 D6,518 D425 D6,438 D372 D
Dividends paid−1,973 D−1,972−1,877 D−1,875 D−1,875 D−1,880−1,684 D−1,668 D
Share buybacks−3,024 D−2,080−1,080 D−808 D−1,645 D−4,555−1,445 D−977 D
Cash from investing−7,527 D−6,737−7,320 D−7,831 D−6,106 D−5,093−8,718 D−2,533 D
Cash from financing−7,170 D2,328−6,541 D−19 D−7,001 D8−5,149 D−2,728 D
(opens in new tab)

Source: Walmart Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • D Free cash flow = cash from operations minus capital expenditure.

Totals may not add up because of rounding.

Per share and dividends

Report an error in this table
Download CSV

Swipe for earlier periods

Table 9 Walmart per-share data and dividends, annual, FY2022–FY2026 USD per share, split-adjusted · shares in millions
USDFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended
Basic EPS (USD)2.742.421.921.43 11.63 1
Diluted EPS (USD)2.732.411.911.42 11.62 1
Dividends declared per share (USD)0.940.830.760.7467 10.7333 1
Diluted shares (m)8,0228,0818,1088,202 18,415 1
FCF cover (×)2.0×1.9×2.5×2.0×1.8×
(opens in new tab)

Source: Walmart Forms 10-Q and 10-K, SEC EDGAR Data as of

1 As presented in Form 10-K filed .

Notes on these figures

  • R Restated
    • None in the periods shown.
  • D Derived by StockFactsheet
    • Combined from line items reported in the same filing (see Methodology).
    • Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
    • Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.
    • Total debt = short-term debt + long-term debt, from the same filing.
    • Total liabilities = total liabilities and equity − total equity, from the same filing.
    • Net debt = total debt minus cash and short-term investments; a negative value is net cash.
    • Free cash flow = cash from operations minus capital expenditure.
    • Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
  • Template: standard statement set (not bank or insurer).
  • Arrows show direction of change only, not whether a change is good or bad.

How we got these numbers

Every figure comes from Walmart's Forms 10-Q and 10-K as filed with the SEC. Derived values are marked D and explained below.

Full method for this page
Source documents
Forms 10-Q (Q3 FY2025 to Q2 FY2027) and 10-K (FY2022 to FY2026)
Period covered
8 quarters and 5 fiscal years
Calculations
TTM = sum of the last 4 quarters. Q4 = fiscal year minus the nine-month YTD. Margins = line item ÷ revenue. FCF = cash from operations − capital expenditure. CAGR = compound annual growth across the annual table.
Restatements
None in the periods shown.
Comparator
None: this page shows the company's own figures only.
Currency
As reported (USD); no FX conversion.
Read the full methodology

CSV downloads

One file per statement, with the annual and quarterly figures on this page in full units.

Sources and data

Data as of Figures are as reported in the filings below. Derived figures are our calculations (see Methodology).

(opens in new tab)
  1. [1] Filing Form 10-Q, quarter ended 31 Jul 2026 Walmart Inc. · · sec.gov
  2. [2] Filing Form 10-Q, quarter ended 30 Apr 2026 Walmart Inc. · · sec.gov
  3. [3] Filing Form 10-K, fiscal year ended 31 Jan 2026 Walmart Inc. · · sec.gov
  4. [4] Filing Form 10-Q, quarter ended 31 Oct 2025 Walmart Inc. · · sec.gov
  5. [5] Filing Form 10-Q, quarter ended 31 Jul 2025 Walmart Inc. · · sec.gov
  6. [6] Filing Form 10-Q, quarter ended 30 Apr 2025 Walmart Inc. · · sec.gov
  7. [7] Filing Form 10-K, fiscal year ended 31 Jan 2025 Walmart Inc. · · sec.gov
  8. [8] Filing Form 10-Q, quarter ended 31 Oct 2024 Walmart Inc. · · sec.gov
  9. [9] Filing Form 10-K, fiscal year ended 31 Jan 2024 Walmart Inc. · · sec.gov
  10. [10] Filing Form 10-K, fiscal year ended 31 Jan 2023 Walmart Inc. · · sec.gov
  11. [11] Filing Form 10-K, fiscal year ended 31 Jan 2022 Walmart Inc. · · sec.gov
  12. [12] Filing Form 10-Q, quarter ended 31 Jul 2024 Walmart Inc. · · sec.gov
  13. [13] Filing Form 10-Q, quarter ended 30 Apr 2024 Walmart Inc. · · sec.gov
  14. [14] Filing Form 10-Q, quarter ended 31 Oct 2023 Walmart Inc. · · sec.gov
  15. [15] Filing Form 10-K, fiscal year ended 31 Jan 2021 Walmart Inc. · · sec.gov
  16. [16] Our dataset StockFactsheet fundamentals dataset, extracted from SEC EDGAR XBRL on ; derived values (Q4, TTM, free cash flow, net debt, margins, growth rates and ratios) are explained in Methodology.

Spotted an error? Report it Corrections log Methodology

Cite this page

StockFactsheet (2026). "Walmart (WMT) financial statements: income, balance sheet and cash flow." Signed off by OffScriptBySami. Updated ; data as of . https://stockfactsheet.com/stocks/wmt/financials/

Not investment advice

For information only. StockFactsheet does not recommend buying, selling or holding any security. Figures can contain errors; always check the original filings. Full disclaimer

Author and editor

Signed off by OffScriptBySami on · How pages are checked

StockFactsheet is not a licensed investment adviser, broker or dealer, and does not give personal recommendations.

How this page was made
  1. Data imported (SEC EDGAR, )
  2. Drafted from our dataset only
  3. Automated checks and review steps passed ()
  4. Signed off and published by OffScriptBySami (, GST)

Update history

  1. Published First published version.