WMT Income Statement - Walmart Inc

Watchlist Manager

Watchlist

Price: 95.58 EUR 0.45% Market Closed

Market Cap: €768.3B

W	Walmart Inc XMUN:WMT	US
	Siloam International Hospitals Tbk PT IDX:SILO	ID
	Tokio Marine Holdings Inc OTC:TKOMF	JP
	Currys PLC LSE:CURY	UK
	Rollins Inc NYSE:ROL	US
	Shore Bancshares Inc NASDAQ:SHBI	US
M	Mitsubishi UFJ Financial Group Inc DUS:MFZ	JP
K	Keystone Realtors Ltd BSE:543669	IN
S	SoftBank Corp OTC:SFBQF	JP
R	Relx PLC F:RDEB	UK
V	Vinci SA OTC:VCISY	FR
I	Imperial Brands PLC XETRA:ITB	UK
E	Emerita Resources Corp OTC:EMOTF	CA

Financial profile · Q2 FY2027

A scaled retail platform pairing steady growth with rising reinvestment

Walmart's multi-year history shows a volume-led retail model with recurring mid-single-digit revenue expansion and narrow but resilient operating margins. It converts earnings into substantial operating cash, while spending on stores, supply chain, technology, and omnichannel capabilities makes free cash flow increasingly sensitive to investment intensity.

What is developing

The July 31, 2026 results reinforce the established pattern of sales and operating-income growth, but also show that heavier capital spending is absorbing more of the operating-cash increase. The business remains cash generative, yet incremental growth now requires more reinvestment than earlier in the history.

What matters next

Whether operating cash flow continues to cover the enlarged capital-spending base without further TTM free-cash-flow erosion.

Metric	FY2017 Jan 2017	FY2018 Jan 2018	FY2019 Jan 2019	FY2020 Jan 2020	FY2021 Jan 2021	FY2022 Jan 2022	FY2023 Jan 2023	FY2024 Jan 2024	FY2025 Jan 2025	FY2026 Jan 2026
Revenue	485.9B	500.3B	514.4B	524B	559.2B	572.8B	611.3B	648.1B	681B	713.2B
Cost of Revenue	(361.3B)	(373.4B)	(385.3B)	(394.6B)	(420.3B)	(429B)	(463.7B)	(490.1B)	(511.8B)	(535.4B)
Gross Profit	124.6B	126.9B	129.1B	129.4B	138.8B	143.8B	147.6B	158B	169.2B	177.8B
Operating Expenses	(101.9B)	(105.3B)	(107.1B)	(107.9B)	(111.9B)	(115.3B)	(123B)	(131B)	(139.9B)	(147.9B)
Selling, General & Administrative	(101.9B)	(105.3B)	(107.1B)	(107.9B)	(111.9B)	(115.3B)	(123B)	(131B)	(139.9B)	(147.9B)
Operating Income	22.8B	21.6B	22B	21.5B	26.9B	28.4B	24.5B	27B	29.3B	29.8B
Net Interest Income (Expense)	(2.3B)	(2.2B)	(5.6B)	(510m)	6.5B	(4.2B)	(3B)	(4.7B)	(1.8B)	(331m)
Interest Expense	2.4B	2.3B	2.3B	2.6B	2.3B	2B	2.1B	2.7B	2.7B	2.8B
Non-Recurring Items	—	(4.3B)	(4.8B)	(900m)	(12.8B)	(5.7B)	(4.1B)	0	—	—
Total Other Income	—	—	(68m)	58m	(90m)	200m	(438m)	(427m)	(1.2B)	(25m)
Pre-Tax Income	20.5B	15.1B	11.5B	20.1B	20.6B	18.7B	17B	21.8B	26.3B	29.5B
Tax Provision	(6.2B)	(4.8B)	(3.8B)	(4.9B)	(6.9B)	(4.8B)	(5.7B)	(5.6B)	(6.2B)	(7.2B)
Income from Continuing Operations	14.3B	10.3B	7.6B	15.2B	13.7B	13.9B	11.3B	16.3B	20.2B	22.3B
Income to Minority Interest	(650m)	(661m)	(509m)	(320m)	(196m)	(267m)	388m	(759m)	(721m)	(377m)
Net Income	13.6B	9.9B	6.7B	14.9B	13.5B	13.7B	11.7B	15.5B	19.4B	21.9B
EPS (Diluted)	1.46	1.09	0.75	1.73	1.58	1.62	1.42	1.91	2.41	2.73