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Walmart Inc. 8-K Report, Financial Results (Feb 19, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 19, 2026
Period End
February 19, 2026
Security
WMT
In the record · 2016–202610-K1110-Q328-K158

WMT filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 158 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · May ’18May ’18
  2. Leadership change8-K · Apr ’22Apr ’22
  3. Leadership change8-K · Aug ’24Aug ’24

01—Abstract

Summary

Summary of the 8-K filed February 19, 2026. Cited figures are marked; the original filing is the authoritative source.

Walmart reported fourth-quarter fiscal 2026 results (quarter ended January 31, 2026) that showed solid top-line momentum and faster operating income growth.

Total revenues rose 5.6% to $190.7 billiona (4.9% in constant currency), with global eCommerce up 24% and the global advertising business up 37%. Reported operating income increased 10.8% to $8.7 billion, and adjusted operating income grew 10.5% in constant currency, outpacing sales. Reported GAAP EPS was $0.53, while adjusted EPS was $0.74, up 12.1%; the gap reflects a $0.21 net loss on equity and other investments, which management excludes from adjusted results.

For the full year, revenue reached $713.2 billionb (up 4.7%), adjusted operating income grew 5.4% in constant currency, and free cash flow rose to $14.9 billion. Balance sheet and cash generation remained strong. Operating cash flow was $41.6 billion, up $5.1 billion, helped by higher operating income, lower cash tax payments and timing benefits.

Capital expenditures rose $2.9 billion to $26.6 billionc to support omnichannel growth, which compressed the free cash flow increase. Walmart repurchased $8.1 billion of stock during the year and announced a new $30 billion repurchase authorization, replacing the remaining capacity under the prior program. The annual dividend was raised to $0.99 per share.

Total debt stood at $51.5 billiond against $10.7 billion of cash. For fiscal 2027, management guided to constant-currency net sales growth of 3.5% to 4.5%, adjusted operating income growth of 6.0% to 8.0%, and adjusted EPS of $2.75 to $2.85, with capital expenditures of roughly 3.5% of net sales. Investors should note that the guidance is on an adjusted basis, that GAAP results can be swayed by volatile investment fair-value changes, and that a new corporate overhead allocation methodology beginning in fiscal 2027 will change segment profit reporting, shifting roughly $85 million of operating income into Walmart U.S. for FY26 on a recast basis.

02—Key points

Key Highlights

  1. Total revenue of $190.7 billion in Q4, up 5.6% (4.9% constant currency); full-year revenue of $713.2 billion, up 4.7%.
  2. Operating income up 10.8% to $8.7 billion in Q4, with adjusted operating income up 10.5% in constant currency, growing faster than sales.
  3. Adjusted EPS of $0.74 (up 12.1%) versus GAAP EPS of $0.53, with the difference driven by a $0.21 net loss on equity investments such as Symbotic.
  4. Global eCommerce sales grew 24% and global advertising grew 37% (Walmart Connect in the U.S. up 41%), while membership fee revenue rose 15.1% globally.
  5. Operating cash flow of $41.6 billion (up $5.1 billion) and free cash flow of $14.9 billion (up $2.3 billion), despite a $2.9 billion increase in capex.
  6. New $30 billion share repurchase authorization announced; dividend increased to $0.99 per share annually.
  7. FY27 guidance: constant-currency net sales growth of 3.5%-4.5%, adjusted operating income growth of 6.0%-8.0%, and adjusted EPS of $2.75-$2.85.

03—Questions

Frequently Asked Questions

  1. How did Walmart perform in the fourth quarter of fiscal 2026?

    Walmart delivered revenue of $190.7 billion, up 5.6% (4.9% in constant currency). Operating income rose 10.8% to $8.7 billion, and adjusted operating income grew 10.5% in constant currency, faster than sales. Walmart U.S. comparable sales rose 4.6%, and eCommerce grew 24% globally.

  2. Why is GAAP EPS ($0.53) so much lower than adjusted EPS ($0.74)?

    Walmart's GAAP results include a net loss of $0.21 per share on equity and other investments, primarily driven by a decline in the stock price of its Symbotic investment. Management excludes these fair-value changes from adjusted EPS because it does not forecast them and views operating performance as the better indicator of the business.

  3. What is the outlook for fiscal 2027?

    Walmart guided to constant-currency net sales growth of 3.5%-4.5%, adjusted operating income growth of 6.0%-8.0%, and adjusted EPS of $2.75-$2.85. The company expects net interest expense to rise by about $200-$300 million, an effective tax rate of 23.5%-24.5%, and capital expenditures of roughly 3.5% of net sales.

  4. How is Walmart returning capital to shareholders?

    Walmart repurchased $8.1 billion of stock during fiscal 2026 and announced a new $30 billion repurchase authorization that replaces the remaining capacity under the prior program. The annual dividend was increased to $0.99 per share. Dividends paid totaled $7.5 billion for the year.

  5. Is Walmart's balance sheet and cash flow position solid?

    Walmart ended the year with $10.7 billion in cash and $51.5 billion in total debt. Operating cash flow of $41.6 billion comfortably funded $26.6 billion in capital expenditures, $7.5 billion in dividends, and $8.1 billion in buybacks. Free cash flow of $14.9 billion was up $2.3 billion, though the company is investing heavily in omnichannel infrastructure.

04—Continue

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