Walmart Inc. (WMT) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 |
|---|
| Sales/Revenue | 177.75B | 190.66B | 179.5B | 177.4B | 165.61B | 180.55B | 169.59B | 169.34B | 161.51B | 173.39B | 160.8B | 161.63B | 152.3B | 164.05B | 152.81B | 152.86B | 141.57B | 152.87B | 140.53B | 141.05B |
| Revenue Growth % | 7.33% | 5.59% | 5.84% | 4.76% | 2.54% | 4.13% | 5.46% | 4.77% | 6.05% | 5.69% | 5.23% | 5.74% | 7.58% | 7.31% | 8.74% | 8.37% | 2.36% | 0.52% | 4.32% | 2.4% |
| Cost of Goods Sold | 133.06B | 143.62B | 134.71B | 132.77B | 124.3B | 136.17B | 127.34B | 126.81B | 121.43B | 131.82B | 121.18B | 121.85B | 115.28B | 125.42B | 115.61B | 115.84B | 106.85B | 115.52B | 105.02B | 105.18B |
| COGS % of Revenue | 74.86% | 75.33% | 75.05% | 74.84% | 75.06% | 75.42% | 75.09% | 74.89% | 75.19% | 76.03% | 75.36% | 75.39% | 75.69% | 76.46% | 75.66% | 75.78% | 75.47% | 75.57% | 74.74% | 74.57% |
| Gross Profit | 44.69B | 47.04B | 44.79B | 44.63B | 41.31B | 44.38B | 42.25B | 42.52B | 40.08B | 41.56B | 39.62B | 39.78B | 37.02B | 38.63B | 37.2B | 37.02B | 34.72B | 37.35B | 35.5B | 35.87B |
| Gross Margin % | 25.14% | 24.67% | 24.95% | 25.16% | 24.94% | 24.58% | 24.91% | 25.11% | 24.81% | 23.97% | 24.64% | 24.61% | 24.31% | 23.54% | 24.34% | 24.22% | 24.53% | 24.43% | 25.26% | 25.43% |
| Gross Profit Growth % | 8.2% | 5.99% | 6.02% | 4.95% | 3.07% | 6.78% | 6.63% | 6.9% | 8.27% | 7.61% | 6.51% | 7.46% | 6.61% | 3.42% | 4.78% | 3.22% | -0.9% | 1.44% | 3.3% | 2.32% |
| Operating Expenses | 37.2B | 38.33B | 38.09B | 37.34B | 34.17B | 36.52B | 35.54B | 34.59B | 33.24B | 34.31B | 33.42B | 32.47B | 30.78B | 33.06B | 34.51B | 30.17B | 29.4B | 31.46B | 29.71B | 28.51B |
| OpEx % of Revenue | 20.93% | 20.11% | 21.22% | 21.05% | 20.63% | 20.23% | 20.96% | 20.42% | 20.58% | 19.79% | 20.78% | 20.09% | 20.21% | 20.16% | 22.58% | 19.74% | 20.77% | 20.58% | 21.14% | 20.21% |
| Selling, General & Admin | 37.2B | 38.33B | 38.09B | 37.34B | 34.17B | 36.52B | 35.54B | 34.59B | 33.24B | 34.31B | 33.42B | 32.47B | 30.78B | 33.06B | 34.51B | 30.17B | 29.4B | 31.46B | 29.71B | 28.51B |
| SG&A % of Revenue | 20.93% | 20.11% | 21.22% | 21.05% | 20.63% | 20.23% | 20.96% | 20.42% | 20.58% | 19.79% | 20.78% | 20.09% | 20.21% | 20.16% | 22.58% | 19.74% | 20.77% | 20.58% | 21.14% | 20.21% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 7.49B | 8.71B | 6.7B | 7.29B | 7.13B | 7.86B | 6.71B | 7.94B | 6.84B | 7.25B | 6.2B | 7.32B | 6.24B | 5.56B | 2.69B | 6.85B | 5.32B | 5.89B | 5.79B | 7.35B |
| Operating Margin % | 4.22% | 4.57% | 3.73% | 4.11% | 4.31% | 4.35% | 3.96% | 4.69% | 4.24% | 4.18% | 3.86% | 4.53% | 4.1% | 3.39% | 1.76% | 4.48% | 3.76% | 3.85% | 4.12% | 5.21% |
| Operating Income Growth % | 5.02% | 10.8% | -0.18% | -8.24% | 4.3% | 8.34% | 8.16% | 8.53% | 9.63% | 30.44% | 130.13% | 6.74% | 17.34% | -5.54% | -53.47% | -6.8% | -23.03% | 7.29% | 0.24% | 21.37% |
| EBITDA | 7.85B | 12.45B | 10.3B | 10.77B | 10.5B | 11.23B | 9.97B | 11.15B | 9.97B | 10.37B | 9.19B | 10.22B | 9.09B | 8.37B | 5.45B | 9.55B | 8B | 8.59B | 8.44B | 9.99B |
| EBITDA Margin % | 4.41% | 6.53% | 5.74% | 6.07% | 6.34% | 6.22% | 5.88% | 6.59% | 6.17% | 5.98% | 5.71% | 6.32% | 5.97% | 5.1% | 3.57% | 6.25% | 5.65% | 5.62% | 6.01% | 7.09% |
| EBITDA Growth % | -25.3% | 10.83% | 3.35% | -3.39% | 5.37% | 8.31% | 8.49% | 9.1% | 9.73% | 23.88% | 68.59% | 6.99% | 13.59% | -2.57% | -35.44% | -4.42% | -16.43% | 3.46% | -1.25% | 13.19% |
| D&A (Non-Cash Add-back) | 0 | 3.74B | 3.61B | 3.49B | 3.37B | 3.37B | 3.26B | 3.21B | 3.13B | 3.12B | 2.99B | 2.9B | 2.85B | 2.81B | 2.75B | 2.7B | 2.68B | 2.71B | 2.65B | 2.64B |
| EBIT | 7.85B | 6.68B | 8.87B | 10.09B | 6.63B | 7.68B | 6.72B | 6.89B | 7.75B | 8.21B | 1.6B | 11.37B | 3.35B | 9.51B | -847M | 7.12B | 3.36B | 5.21B | 4.63B | 6.44B |
| Net Interest Income | -620M | -621M | -591M | -675M | -544M | -602M | -478M | -565M | -600M | -549M | -537M | -494M | -557M | -507M | -500M | -448M | -419M | -380M | -442M | -478M |
| Interest Income | 79M | 88M | 93M | 94M | 93M | 115M | 140M | 114M | 114M | 146M | 145M | 148M | 107M | 103M | 84M | 31M | 36M | 47M | 44M | 37M |
| Interest Expense | 699M | 709M | 684M | 769M | 637M | 717M | 618M | 679M | 714M | 695M | 682M | 642M | 664M | 610M | 584M | 479M | 455M | 427M | 486M | 515M |
| Other Income/Expense | -345M | -2.74B | 1.49B | 2.03B | -1.14B | -896M | -610M | -1.73B | 194M | 264M | -5.29B | 3.41B | -3.55B | 3.34B | -4.13B | -210M | -2.42B | -1.1B | -1.65B | -1.43B |
| Pretax Income | 7.15B | 5.97B | 8.19B | 9.32B | 5.99B | 6.96B | 6.1B | 6.21B | 7.04B | 7.52B | 915M | 10.73B | 2.69B | 8.9B | -1.43B | 6.64B | 2.9B | 4.78B | 4.15B | 5.92B |
| Pretax Margin % | 4.02% | 3.13% | 4.56% | 5.25% | 3.62% | 3.86% | 3.6% | 3.67% | 4.36% | 4.34% | 0.57% | 6.64% | 1.76% | 5.43% | -0.94% | 4.35% | 2.05% | 3.13% | 2.95% | 4.2% |
| Income Tax | 1.66B | 1.58B | 2.1B | 2.17B | 1.35B | 1.54B | 1.38B | 1.5B | 1.73B | 1.84B | 272M | 2.67B | 792M | 3.09B | 336M | 1.5B | 798M | 1.15B | 1.01B | 1.56B |
| Effective Tax Rate % | 23.2% | 26.43% | 25.63% | 23.26% | 22.61% | 22.09% | 22.7% | 24.18% | 24.56% | 24.47% | 29.73% | 24.93% | 29.46% | 34.75% | -23.48% | 22.53% | 27.51% | 24.03% | 24.48% | 26.32% |
| Net Income | 5.65B | 4.24B | 6.14B | 7.03B | 4.49B | 5.25B | 4.58B | 4.5B | 5.1B | 5.49B | 453M | 7.89B | 1.67B | 6.28B | -1.8B | 5.15B | 2.05B | 3.56B | 3.1B | 4.28B |
| Net Margin % | 3.18% | 2.22% | 3.42% | 3.96% | 2.71% | 2.91% | 2.7% | 2.66% | 3.16% | 3.17% | 0.28% | 4.88% | 1.1% | 3.83% | -1.18% | 3.37% | 1.45% | 2.33% | 2.21% | 3.03% |
| Net Income Growth % | 25.92% | -19.36% | 34.21% | 56.1% | -12.09% | -4.37% | 910.38% | -42.96% | 205.08% | -12.45% | 125.19% | 53.25% | -18.55% | 76.17% | -157.91% | 20.42% | -24.76% | 270.35% | -39.53% | -33.97% |
| Net Income (Continuing) | 5.49B | 4.39B | 6.09B | 7.15B | 4.64B | 5.42B | 4.71B | 4.71B | 5.31B | 5.68B | 643M | 8.05B | 1.9B | 5.81B | -1.77B | 5.15B | 2.1B | 3.63B | 3.13B | 4.36B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 6.35B | 6.56B | 6.42B | 6.75B | 6.86B | 6.68B | 6.36B | 6.35B | 7B | 6.71B | 6.36B | 6B | 7.06B | 7.3B | 8.13B | 8.28B | 8.96B | 8.64B | 8.48B | 6.6B |
| EPS (Diluted) | 0.67 | 0.53 | 0.77 | 0.88 | 0.56 | 0.65 | 0.57 | 0.56 | 0.63 | 0.68 | 0.06 | 0.97 | 0.21 | 0.77 | -0.22 | 0.63 | 0.25 | 0.43 | 0.37 | 0.51 |
| EPS Growth % | 19.64% | -18.46% | 35.09% | 57.14% | -11.11% | -4.41% | 919.68% | -42.27% | 200% | -11.69% | 125.41% | 53.97% | -16% | 79.07% | -159.46% | 23.53% | -21.88% | 272% | -38.33% | -32.89% |
| EPS (Basic) | 0.67 | 0.53 | 0.77 | 0.88 | 0.56 | 0.65 | 0.57 | 0.56 | 0.63 | 0.68 | 0.06 | 0.98 | 0.21 | 0.78 | -0.22 | 0.63 | 0.25 | 0.43 | 0.37 | 0.51 |
| Diluted Shares Outstanding | 8B | 8.01B | 8.01B | 8.02B | 8.05B | 8.08B | 8.08B | 8.08B | 8.08B | 8.1B | 8.11B | 8.11B | 8.11B | 8.12B | 8.13B | 8.23B | 8.29B | 8.35B | 8.39B | 8.44B |
| Basic Shares Outstanding | 7.97B | 7.97B | 7.97B | 7.98B | 8.01B | 8.03B | 8.04B | 8.04B | 8.05B | 8.07B | 8.08B | 8.08B | 8.08B | 8.09B | 8.13B | 8.22B | 8.26B | 8.31B | 8.36B | 8.4B |
| Dividend Payout Ratio | 34.9% | 44.3% | 30.52% | 26.69% | 41.9% | 32.05% | 36.44% | 36.99% | 32.74% | 27.92% | 338.63% | 19.44% | 91.93% | 24.13% | - | 29.87% | 75.12% | 42.81% | 49.47% | 36.06% |