01—Abstract
Summary
Summary of the 10-K filed March 13, 2026. Cited figures are marked; the original filing is the authoritative source.
Walmart Inc. reported a robust fiscal year ended January 31, 2026, with total revenues reaching $713.2 billiona, up 4.7% year-over-year.
The company demonstrated strong comparable sales growth across its segments, particularly in Walmart U.S. and Walmart International, driven by increasing customer traffic, average ticket size, and continued strength in omnichannel offerings like pickup and delivery. Operating income saw a modest increase to $29.8 billionb, though operating income margin slightly decreased year-over-year due to increased self-insured liability claims and specific charges related to share-based compensation for its PhonePe subsidiary. Financially, Walmart generated healthy free cash flow of $14.9 billion and continues to focus on strategic capital allocation towards technology, supply chain, and customer-facing initiatives, including significant investments in automation and AI.
The company also returned substantial capital to shareholders through dividends ($7.5 billionc) and share repurchases ($8.1 billion), underscoring its commitment to shareholder value. Despite facing ongoing risks related to macroeconomic conditions, competition, and supply chain dynamics, Walmart's diversified business model and strategic investments position it for continued resilience and growth.
02—Key points
Key Highlights
- Total revenues increased by 4.7% to $713.2 billion for the fiscal year ended January 31, 2026.
- Walmart U.S. segment net sales grew 4.4% to $483.0 billion, with comparable sales increasing by 4.3%.
- Walmart International segment net sales grew 7.0% to $130.4 billion, driven by strong eCommerce growth.
- Sam's Club U.S. segment net sales increased by 3.1% to $93.0 billion, with comparable sales growth of 2.9% (excluding fuel).
- Operating income was $29.8 billion, representing a 4.2% margin.
- Free cash flow generated was $14.9 billion.
- The company repurchased $8.1 billion of its stock and paid $7.5 billion in dividends during the fiscal year.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2026, Walmart Inc. kept $0.03.
- Revenue$706.41B100.0%
- Cost of revenue−$535.39B75.8%
- Gross profit$171.02B24.2%
- Operating costs−$141.19B20.0%
- Operating income$29.82B4.2%
- Interest, other & tax−$7.93B1.1%
- Net income$21.89B3.1%
Where FY2026 revenue went
$706.41B- Cost of revenue: $535.39B, 76% of revenue
- SG&A: $147.94B, 21% of revenue
- Net income: $21.89B, 3.1% of revenue
- Interest, other & tax: $7.93B, 1.1% of revenue
Kept 3.1% as net incomeNet income $21.89B · 3.1%
Full revenue history →04—Financials
Financial Highlights
Figures from 10-KFY2026filed March 13, 2026Financial Statements
FY2026 against FY2025
| Line item | FY2026FY2025 | Change |
|---|---|---|
| Revenue | $706.41B$674.54B | +4.7% |
| Cost of Revenue | $535.39B$511.75B | +4.6% |
| Gross Profit | $171.02B$162.78B | +5.1% |
| SG&A Expenses | $147.94B$139.88B | +5.8% |
| Operating Income | $29.82B$29.35B | +1.6% |
| Interest Expense | $2.32B$2.25B | +3.1% |
| Net Income | $21.89B$19.44B | +12.6% |
| EPS (Basic) | $2.74$2.42 | +13.2% |
| EPS (Diluted) | $2.73$2.41 | +13.3% |
| Shares Outstanding (Basic) | 7.98B8.04B | −0.7% |
| Shares Outstanding (Diluted) | 8.02B8.08B | −0.7% |
05—Questions
Frequently Asked Questions
What was Walmart's overall financial performance in fiscal year 2026?
Walmart reported total revenues of $713.2 billion, a 4.7% increase from the prior year. Operating income was $29.8 billion, and the company generated $14.9 billion in free cash flow. Net income attributable to Walmart was $21.9 billion.
How did the different segments perform?
Walmart U.S. saw net sales grow 4.4% to $483.0 billion with a 4.3% comparable sales increase. Walmart International's net sales rose 7.0% to $130.4 billion, boosted by eCommerce. Sam's Club U.S. had a 3.1% increase in net sales to $93.0 billion.
What are Walmart's key strategic priorities and investments?
Walmart's strategy focuses on seamless omnichannel experiences, price leadership, operational discipline, and digital transformation. Key investments are being made in technology (including AI), supply chain automation, new store formats, remodels, and other customer-facing initiatives to enhance convenience and efficiency.
What is the company's approach to capital allocation and shareholder returns?
Walmart allocates significant capital to higher-return areas like technology, supply chain, and store investments. The company also returned capital to shareholders through $8.1 billion in share repurchases and $7.5 billion in dividends during fiscal year 2026, reflecting a commitment to enhancing shareholder value.
06—Continue