FirmAtlas
Company handbook · WMT · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
WMT · CIK 104169 · LATEST FILING: 10-Q JUL '26 · FILED AUG 28, 2026
Walmart Inc.
$118.81
+0.94 (+0.80%)
Close, Oct 16, 2026 · 52-week $99–135
Walmart runs discount stores and supercenters, Sam's Club warehouse clubs, and online stores. It sells groceries, household goods, clothing, electronics and other goods in the U.S. and in other countries such as Mexico, Canada, China and India (Flipkart). It also sells ads and Walmart+ memberships.
Business
- SegmentsWalmart US 68% · Walmart International 18% · Sams Club 13% (FY25)
- RegionsUS 82% · Outside US 18% (FY25)
- CustomersConsumers and small businesses; its own stores, websites and apps, with pickup and delivery
- Cash useFY24–FY25: capex $50.4B · dividends $14.2B · buybacks $12.6B · acquisitions $1.9B
Reinvested 67% of operating cash flow · returned 97% of free cash flow
Last fiscal year
Walmart Inc. reported revenue of $706.4B for the year ended Jan 31, 2026 (FY25), up 4.7% from FY24. Net income was $21.9B, operating cash flow $41.6B and free cash flow $14.9B. Source: 10-K filed Mar 13, 2026.
Market cap
$953.1B
P/E
43.2
EV/EBITDA
22.4x
P/B
9.7
Div yield
0.82%
ROIC
17.8%
Revenue 1Y
4.7%/yr
EPS 1Y
13.3%/yr
Shares 1Y
−0.7%
Loading chart…
Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOJohn Furner
HQBentonville, AR
AuditorErnst & Young LLP
Year endsJanuary
Revenue by segment · FY25
Walmart US68%
Walmart International18%
Sams Club13%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
17.9%
20.5%
30.3%
11.6%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$79.2B deployed
Capex
$50.4B
63.7%
Acquisitions
$1.9B
2.5%
Dividends
$14.2B
17.9%
Buybacks
$12.6B
15.9%
Operating cash flow over the period: $78.0B. Total debt changed by +$5.7B.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY25 = year ended Jan 31, 2026 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
Per-share figures are split-adjusted (3-for-1 split after FY20).
TTM = the last four quarters, to Jul '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
674,538
706,413+4.7%
728,466
YoY
+4.7%
Gross profit
162,785
171,018+5.1%
178,283
Gross margin
24.1%
24.2%+0.1 pp
—
Operating income
29,348
29,825+1.6%
32,280
Operating margin
4.4%
4.2%−0.1 pp
—
EBITDA
42,321
44,028+4.0%
—
EBITDA margin
6.3%
6.2%−0.0 pp
—
Interest expense
2,249
2,318+3.1%
—
Interest coverage
18.82x
18.99x+0.18x
—
Net income
19,436
21,893+12.6%
22,076
YoY
+12.6%
Net margin
2.9%
3.1%+0.2 pp
—
EPS (diluted, $)
2.41
2.73+13.3%
2.77
YoY
+13.3%
Balance sheet
Total assets
260,823
284,668+9.1%
293,914
Cash & short-term investments
9,536
11,321+18.7%
—
Accounts receivable
9,975
11,172+12.0%
—
Inventory
56,435
58,851+4.3%
—
Net PP&E
119,993
136,083+13.4%
—
Other assets
64,884
67,241+3.6%
—
Total liabilities
169,810
185,051+9.0%
195,676
Accounts payable
58,666
63,061+7.5%
—
Total debt
39,067
44,762+14.6%
46,941
Other liabilities
72,077
77,228+7.1%
—
Shareholders’ equity
91,013
99,617+9.5%
98,238
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
36,443
41,565+14.1%
42,923
Net income
20,157
22,270+10.5%
—
Depreciation & amortization
12,973
14,203+9.5%
—
Stock-based compensation
2,769
3,603+30.1%
—
Working capital & other
544
1,489+173.7%
—
Cash from investing
(21,379)
(26,350)n/m
—
Capex
(23,783)
(26,642)n/m
—
PP&E sold
432
106−75.5%
—
Acquisitions
(1,896)
(53)n/m
—
Other investing
3,868
239−93.8%
—
Cash from financing
(14,822)
(13,553)n/m
—
Debt raised
0
3,983n/m
—
Debt repaid
(3,468)
(2,625)n/m
—
Dividends
(6,688)
(7,507)n/m
—
Buybacks
(4,494)
(8,088)n/m
—
Other financing
(172)
684n/m
—
Net change in cash
(399)
1,785n/m
—
Free cash flow (OCF − capex)
12,660
14,923+17.9%
13,509
Where the cash went
Operating cash flow
36,443
41,565+14.1%
42,923
Reinvested in the business
25,679
26,695+4.0%
—
% of operating cash flow
70.5%
64.2%
Capex
23,783
26,642+12.0%
29,414
Acquisitions
1,896
53−97.2%
—
Free cash flow
12,660
14,923+17.9%
13,509
YoY
+17.9%
Returned to shareholders
11,182
15,595+39.5%
—
% of free cash flow
88.3%
104.5%
Dividends
6,688
7,507+12.2%
—
Buybacks
4,494
8,088+80.0%
—
Change in total debt
—
5,695
—
Cash left over
—
4,970
—
FCF conversion (FCF ÷ net income)
65.1%
68.2%+3.0 pp
—
Owner earnings
—
10,236
—
Owner earnings margin
—
1.4%
—
Buyback yield
0.6%
0.8%+0.3 pp
—
Returns & ratios
ROIC (all capital)
18.7%
17.8%−0.9 pp
—
ROIC (operating)
17.6%
16.6%−1.0 pp
—
Net debt / EBITDA
0.70x
0.76x+0.06x
—
Debt / equity
0.43x
0.45x+0.02x
—
Cash conversion cycle (days)
4
3−1 d
—
ROE
21.4%
22.0%+0.6 pp
—
ROA
7.5%
7.7%+0.2 pp
—
ROCE
17.9%
16.8%−1.0 pp
—
NOPAT
22,485
22,539+0.2%
—
Invested capital (operating)
127,737
143,045+12.0%
—
Invested capital (all)
120,544
133,058+10.4%
—
Reinvestment rate
—
67.9%
—
Debtor days
5
6+0 d
—
Inventory days
40
40−0 d
—
Days payable
42
43+1 d
—
Income
Oct '25
Jan '26
Apr '26
Jul '26
Revenue
177,769
188,913
175,684
186,100
vs year-ago quarter
Gross profit
43,063
45,298
42,626
47,296
Gross margin
24.2%
24.0%
24.3%
25.4%
Operating income
6,696
8,708
7,493
9,383
Net income
6,143
4,237
5,330
6,366
vs year-ago quarter
Net margin
3.5%
2.2%
3.0%
3.4%
EPS (diluted, $)
0.77
0.53
0.67
0.80
vs year-ago quarter
Balance sheet
Oct '25
Jan '26
Apr '26
Jul '26
Total assets
288,655
284,668
289,607
293,914
Cash & equivalents
11,097
11,321
11,319
11,992
Total debt
42,846
44,762
47,560
46,941
Shareholders’ equity
96,094
99,617
94,330
98,238
Cash flow
Oct '25
Jan '26
Apr '26
Jul '26
Operating cash flow
9,100
14,113
4,738
14,972
Capex
7,218
8,015
6,684
7,497
Free cash flow
1,882
6,098
(1,946)
7,475
vs year-ago quarter