Walmart
What matters nowUpdated 7 h ago
- Walmart opened a 900,000 sq ft fulfillment center in Stockton, California on October 8, which cuts the fulfillment process from 12 steps to five and supports next- or two-day shipping to 95% of the U.S. population 1. On October 7 it set out its holiday plans, led by Express Pickup, which gets app orders ready in as little as one hour and expands nationwide in the coming weeks 2.
- On October 5 Walmart published an open letter disputing economist Lindsay Owens's claims that it uses personal data and weather to set higher prices, saying it does not engage in dynamic pricing 3. CEO John Furner had pledged on September 25 that information shared through Sparky will not be used to raise prices 4.
- WMT traded at 113.83 on the pooled 24/7 venue price, up 0.36% from the previous close of 113.42. Recent large moves include a 9.17% drop on August 20 (z-score -7.18), a 7.15% drop on May 21 and a 4.75% gain on June 3.
- Trailing revenue is $735.8B, up 6.2% year on year, with trailing EPS of $2.77, up 3.7%, a 4.4% operating margin and free cash flow of $13.5B. The stock trades at 41.1x trailing earnings and 19.9x EV/EBITDA, with a market cap of $903.1B (fundamentals as of July 31). Insiders sold 8.97M shares worth $1.07B over the last 180 days and bought none, with 19 of the 26 sales under planned schedules.
- Walmart's Q3 FY27 earnings are estimated for November 19, 2026, not yet confirmed. Upcoming macro releases include September CPI on October 14 and advance retail sales on October 15. Polymarket odds give 81.5% to no Fed rate change after the October 2026 meeting and 17.5% to a 25 bp increase.
Walmart corporate newsroom · Oct 8
Walmart corporate newsroom · Oct 7
Walmart corporate newsroom · Oct 5
Walmart corporate newsroom · Sep 25
Walmart is the largest retailer in the world by revenue, selling groceries and general merchandise through about 10,900 stores in the US and abroad, plus Sam's Club warehouse clubs and a fast-growing e-commerce and advertising business. In fiscal 2026 (ended January 31, 2026) net sales were $706.4 billion. Walmart U.S. still makes up about two-thirds of sales, while the market now watches e-commerce, advertising and membership income for margin growth.
How it makes money
Walmart earns most revenue from selling groceries and general merchandise in its stores, clubs and websites, with thin margins on food and higher margins on everyday items. It adds membership fees from Sam's Club and Walmart+, and advertising sold to suppliers through Walmart Connect and Vizio TV screens, which carry much higher margins. Profit growth depends on e-commerce fulfillment costs, pricing investment, and how fast advertising and membership income rise.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-07-31 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
Walmart U.S. stores and e-commerce
Q2 FY27 net sales rose 3.5% to $125.2B, with e-commerce growth of 23% across the company.
Sam's Club
Q2 FY27 net sales rose 8.8% to $25.7B, with membership-driven growth in the club channel.
Walmart International
Q2 FY27 net sales rose 12.8% to $35.2B (7.9% in constant currency).
Walmart Connect advertising
Global advertising revenue rose 38% in Q2 FY27, including Walmart U.S. advertising up 38%.
Latest newsAll news →
Walmart opens 900,000 sq ft Stockton fulfillment center in California
Walmart opened a next-generation fulfillment center in Stockton, California, of more than 900,000 square feet and more than 1,000 jobs.
Walmart unveils holiday shopping options, with Express Pickup in 500 stores
Walmart set out its 2026 holiday shopping plans, led by Express Pickup, which gets Walmart app orders ready for curbside pickup in as little as one hour.
Walmart rebuts economist's claims on dynamic pricing and Sparky spending
Walmart published an open letter responding to economist Lindsay Owens, who said Walmart uses personal data and weather to set higher prices.
CEO John Furner pledges Walmart will not set individual prices or use Sparky data to raise them
In a September 25 letter, CEO John Furner said Walmart sets prices on products, not on individual customers.
Walmart and SCAN launch co-branded Medicare Advantage plan for two states
Walmart and SCAN Health Plan announced a co-branded Medicare Advantage plan that is expected to reach more than two million Medicare enrollees across two states.
Walmart Data Ventures turns Scintilla into a commerce intelligence platform
At its Inspire 2026 supplier event, Walmart Data Ventures said its Scintilla analytics platform will become a commerce intelligence platform next year.
Products & businesses
Walmart U.S. stores and e-commerce
Q2 FY27 net sales rose 3.5% to $125.2B, with e-commerce growth of 23% across the company.
Sam's Club
Q2 FY27 net sales rose 8.8% to $25.7B, with membership-driven growth in the club channel.
Walmart International
Q2 FY27 net sales rose 12.8% to $35.2B (7.9% in constant currency).
Walmart Connect advertising
Global advertising revenue rose 38% in Q2 FY27, including Walmart U.S. advertising up 38%.
Walmart+ and Sam's Club memberships
Global membership fee revenue rose 17% in Q2 FY27, described by the company as an all-time high.
Drone delivery with Wing
More than 1 million drone deliveries completed as of May 2026; Walmart reports service at 66 stores in four states.
Next: Wing network reaches more than 270 Walmart stores (target) · 2027-01-01
Sparky AI shopping assistant
Walmart's AI shopping assistant; the ChatGPT shopping tie-up was announced October 14, 2025.
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Walmart U.S. Supercenters, neighborhood markets and Walmart.com in the United States, selling groceries and general merchandise. Includes U.S. e-commerce, advertising (Walmart Connect) and marketplace fees. | $483.00B | 68.3% | |
| Walmart International Walmart's retail operations outside the US, including Mexico and Central America, Canada, China, and India (Flipkart and PhonePe are part of this segment). | $130.40B | 18.5% | |
| Sam's Club U.S. Membership warehouse clubs in the US, selling bulk groceries, general merchandise, fuel and pharmacy services to members, plus membership fee income and Sam's Club e-commerce. | $93.00B | 13.2% |
Fiscal FY2026 · from the annual report
Valuation & fundamentals
TTM through 2026-07-31 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q2 FY2027 2026-07-31 | Q1 FY2027 2026-04-30 | Q4 FY2026 2026-01-31 | Q3 FY2026 2025-10-31 | Q2 FY2026 2025-07-31 | Q1 FY2026 2025-04-30 | Q4 FY2025 2025-01-31 | Q3 FY2025 2024-10-31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $735.84B | $187.94B +6% | $177.75B +7% | $190.66Bd +6% | $179.50B +6% | $177.40B +5% | $165.61B +3% | $180.55Bd +4% | $169.59B +5% |
| Gross profit | $185.66B | $49.13Bd +10% | $44.69Bd +8% | $47.04Bd +6% | $44.79Bd +6% | $44.63Bd +5% | $41.31Bd +3% | $44.38Bd +7% | $42.25Bd +7% |
| Operating income | $32.28B | $9.38B +29% | $7.49B +5% | $8.71Bd +11% | $6.70B -0% | $7.29B -8% | $7.13B +4% | $7.86Bd +8% | $6.71B +8% |
| Net income | $22.08B | $6.37B -9% | $5.33B +19% | $4.24Bd -19% | $6.14B +34% | $7.03B +56% | $4.49B -12% | $5.25Bd -4% | $4.58B +910% |
| EPS (diluted) | $2.77 | $0.80 -9% | $0.67 +20% | $0.53d -20% | $0.77 +35% | $0.88 +57% | $0.56 -11% | $0.66d -1% | $0.57 +850% |
| Operating cash flow | $42.92B | $14.97Bd +16% | $4.74B -12% | $14.11Bd +4% | $9.10Bd +39% | $12.94Bd +7% | $5.41B +27% | $13.53Bd -19% | $6.56Bd +707% |
| Capital expenditure | $29.41B | $7.50Bd +17% | $6.68B +34% | $8.02Bd +13% | $7.22Bd +17% | $6.42Bd +10% | $4.99B +7% | $7.09Bd +19% | $6.19Bd +13% |
| Share buybacks | $6.99B | $3.02Bd +84% | $2.08B -54% | $1.08Bd -25% | $808.0Md -17% | $1.65Bd +62% | $4.55B +330% | $1.45Bd -3% | $977.0Md +780% |
| Cash & equivalents | $11.53B | $11.53B | $10.73B | $10.73B | $10.58B | $9.43B | $9.31B | $9.04B | $10.05B |
| Total debt | $50.41B | $50.41Bd | $51.46Bd | $44.76Bd | $46.37Bd | $43.49Bd | $46.20Bd | $39.07Bd | $40.47Bd |
| Shares outstanding | 7.93B | 7.93B | 7.96B | 7.97B | 7.97B | 7.97B | 7.98B | 8.02B | 8.03B |
| Metric | FY2026 2026-01-31 | FY2025 2025-01-31 | FY2024 2024-01-31 | FY2023 2023-01-31 | FY2022 2022-01-31 |
|---|---|---|---|---|---|
| Revenue | $713.16B +5% | $680.99B +5% | $648.13B +6% | $611.29B +7% | $572.75B |
| Cost of revenue | $535.39B +5% | $511.75B +4% | $490.14B +6% | $463.72B +8% | $429.00B |
| Gross profit | $177.77Bd +5% | $169.23Bd +7% | $157.98Bd +7% | $147.57Bd +3% | $143.75Bd |
| Operating income | $29.82B +2% | $29.35B +9% | $27.01B +32% | $20.43B -21% | $25.94B |
| EBIT | $29.82B +2% | $29.35B +9% | $27.01B +32% | $20.43B -21% | $25.94B |
| Depreciation & amortization | $14.20B +9% | $12.97B +9% | $11.85B +8% | $10.95B +3% | $10.66B |
| Interest expense | $2.32B +3% | $2.25B -0% | $2.26B +26% | $1.79B +7% | $1.67B |
| Income tax | $7.20B +17% | $6.15B +10% | $5.58B -3% | $5.72B +20% | $4.76B |
| Net income | $21.89B +13% | $19.44B +25% | $15.51B +33% | $11.68B -15% | $13.67B |
| EPS (diluted) | $2.73 +13% | $2.41 +26% | $1.91 +35% | $1.42 -12% | $1.62 |
| Dividends per share | $0.94 +13% | $0.83 +9% | $0.76 +2% | $0.75 +2% | $0.73 |
| Diluted shares (weighted) | 8.02B | 8.08B | 8.11B | 8.20B | 8.41B |
| Operating cash flow | $41.56B +14% | $36.44B +2% | $35.73B +24% | $28.84B +19% | $24.18B |
| Capital expenditure | $26.64B +12% | $23.78B +15% | $20.61B +22% | $16.86B +29% | $13.11B |
| Share buybacks | $8.09B +80% | $4.49B +62% | $2.78B -72% | $9.92B +1% | $9.79B |
| Dividends paid | $7.51B +12% | $6.69B +9% | $6.14B +0% | $6.11B -1% | $6.15B |
| Cash & equivalents | $10.73B | $9.04B | $9.87B | $8.63B | $14.76B |
| Long-term debt (incl. current portion) | $38.17B | $36.00B | $39.58B | $38.84B | $37.67B |
| Total debt | $44.76Bd | $39.07Bd | $40.46Bd | $39.21Bd | $38.08Bd |
| Total assets | $284.67B | $260.82B | $252.40B | $243.20B | $244.86B |
| Total liabilities | $185.05Bd | $169.81Bd | $168.54Bd | $166.50Bd | $161.61Bd |
| Shareholders' equity | $99.62B | $91.01B | $83.86B | $76.69B | $83.25B |
| Shares outstanding | 7.97B | 8.02B | 8.06B | 2.70B | 2.75B |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
Walmart opens 900,000 sq ft Stockton fulfillment center in California
Walmart opened a next-generation fulfillment center in Stockton, California, of more than 900,000 square feet and more than 1,000 jobs.
Walmart unveils holiday shopping options, with Express Pickup in 500 stores
Walmart set out its 2026 holiday shopping plans, led by Express Pickup, which gets Walmart app orders ready for curbside pickup in as little as one hour.
Walmart rebuts economist's claims on dynamic pricing and Sparky spending
Walmart published an open letter responding to economist Lindsay Owens, who said Walmart uses personal data and weather to set higher prices.
CEO John Furner pledges Walmart will not set individual prices or use Sparky data to raise them
In a September 25 letter, CEO John Furner said Walmart sets prices on products, not on individual customers.
Walmart and SCAN launch co-branded Medicare Advantage plan for two states
Walmart and SCAN Health Plan announced a co-branded Medicare Advantage plan that is expected to reach more than two million Medicare enrollees across two states.
Walmart Data Ventures turns Scintilla into a commerce intelligence platform
At its Inspire 2026 supplier event, Walmart Data Ventures said its Scintilla analytics platform will become a commerce intelligence platform next year.
Walmart+ gas savings expand to CITGO stations, now over 17,000 locations
CITGO stations were added to the Walmart+ Gas Savings benefit, lifting the number of participating stations to more than 17,000 from about 13,000.
Walmart lines up September investor conference appearances
Walmart said its leaders will speak at five September investor conferences, including Barclays, Goldman Sachs, Piper Sandler and Wells Fargo.
JPMorgan keeps Walmart at Overweight and cuts target to $125 from $137
JPMorgan kept its Overweight rating on Walmart after the stock's sharpest one-day drop in about four years, and cut its price target to $125 from $137.
Walmart and Sam's Club to roll out Tap to Pay, starting August 24
Walmart announced contactless Tap to Pay at select Walmart and Sam's Club locations starting August 24, 2026.
Walmart shares fall about 9% on weak U.S. comps and soft Q3 EPS guide
Walmart stock closed about 9% lower on August 20, its largest one-day drop since May 2022.
Walmart raises FY27 outlook but guides Q3 adjusted EPS to $0.62–$0.64
Walmart lifted its full-year fiscal 2027 outlook, with adjusted EPS now expected at $2.80 to $2.87, up from $2.75 to $2.85.
Oppenheimer downgrades Walmart to Perform, saying upside looks limited
Oppenheimer cut its rating on Walmart to Perform from Outperform on August 4, ahead of the second-quarter report.
Walmart completes acquisition of Vibe.co to expand streaming TV ads
Walmart closed its purchase of Vibe.co, a self-serve connected-TV advertising platform, on August 4, 2026.
Walmart and Sam's Club cut prices on summer staples
Walmart and Sam's Club announced summer price cuts on groceries, grilling items and fuel.
Walmart agrees to buy Vibe.co, a self-serve connected TV ad platform
Walmart agreed to acquire Vibe.co, a self-serve connected TV advertising platform used by small and mid-sized businesses.
Walmart signs 15-year nuclear power agreement with Constellation for Illinois plant
Walmart signed its first nuclear power purchase agreement with Constellation Energy, sourcing output from the Dresden Clean Energy Center in Illinois.
Walmart sets one global commerce media strategy across U.S., International and Sam's Club
Walmart unveiled a single vision for its advertising business spanning Walmart U.S., Walmart International and Sam's Club, built on scale, solutions and signals.
Walmart shareholders pass all company proposals; four shareholder proposals fail
Walmart's annual shareholder meeting approved all eleven director nominees and the company's other proposals.
Walmart passes 1 million drone deliveries across 66 stores
Walmart said its drone delivery service, run with Wing and Zipline, has completed more than one million deliveries.
Walmart launches Prepaid Consolidation to merge supplier inbound freight
Walmart introduced Prepaid Consolidation, a supply chain program that merges inbound shipments from suppliers under one national purchase order.
Walmart Q1 FY27 revenue rises 7.3% to $177.8B; guidance held, Q2 EPS outlook $0.72-$0.74
Walmart reported first-quarter fiscal 2027 revenue of $177.8 billion, up 7.3%, with adjusted EPS of $0.66.
Walmart plans more than 650 store remodels and about 20 new stores through early 2027
Walmart said it has more than 650 Supercenter and Neighborhood Market remodels planned, plus about 20 new stores for 2026 and early 2027.
Walmart and VIZIO add Walmart account login and L'Oreal placement on VIZIO OS
At the IAB NewFronts, Walmart and VIZIO announced that shoppers can use their Walmart account to access Smart TV features on new VIZIO OS and onn TVs.
Walmart Q4 FY26 revenue rises 5.6% to $190.7B; FY27 adjusted EPS guided to $2.75-$2.85
Walmart reported fourth-quarter fiscal 2026 revenue of $190.7 billion, up 5.6%, with e-commerce growing 24% globally.
Walmart raises annual dividend to $0.99 a share, its 53rd straight yearly increase
Walmart's board approved a fiscal 2027 dividend of $0.99 per share, about 5% above the $0.94 paid in the prior year.
John Furner becomes Walmart CEO, succeeding Doug McMillon
John Furner took over as president and chief executive of Walmart Inc.
Walmart names new heads for U.S., International and Sam's Club ahead of CEO change
Walmart announced a reshuffle of its senior leadership effective February 1, 2026, the same day John Furner takes over as chief executive.
Walmart and Wing add 150 drone delivery stores, for more than 270 in total
Walmart and Wing, the Alphabet drone unit, said drone delivery will expand to 150 more Walmart stores, taking the network above 270 stores over 2026 and into 2027.
Walmart and Google plan shopping in Gemini with Walmart and Sam's Club items
Walmart and Google said Gemini will surface Walmart and Sam's Club products during shopping conversations, using Google's Universal Commerce Protocol.
SEC filings
| Oct 8, 26 | 4 | Form 4: Dallaire Seth (Executive Vice President) — tax withholding 387 sh | sec.gov ↗ |
| Oct 8, 26 | 4 | Form 4: Milum Dwayne M (SVP & Controller) — tax withholding 122 sh | sec.gov ↗ |
| Oct 8, 26 | 4 | Form 4: Watkins Latriece (Executive Vice President) — tax withholding 227 sh | sec.gov ↗ |
| Oct 8, 26 | 4 | Form 4: Guggina David W (Executive Vice President) — tax withholding 118 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Penner Gregory Boyd (Director) — award 547 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Walton Steuart L (Director) — award 337 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Mehrotra Shishir (Director) — award 277 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: MAYER MARISSA A (Director) — award 277 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: STEPHENSON RANDALL L (Director) — award 457 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Friar Sarah (Director) — award 337 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Moritz Robert Edward Jr. (Director) — award 361 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Harris Carla A (Director) — award 168 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Bartlett Daniel J (Executive Vice President) — open-market sale 3,990 sh | sec.gov ↗ |
| Oct 2, 26 | 4 | Form 4: Conde Cesar (Director) — award 277 sh | sec.gov ↗ |
| Oct 1, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 18, 26 | 4 | Form 4: Furner John R. (President & CEO, Director) — open-market sale 13,125 sh | sec.gov ↗ |
| Sep 18, 26 | 4 | Form 4: Nicholas Christopher James (Executive Vice President) — open-market sale 2,900 sh | sec.gov ↗ |
| Sep 17, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 16, 26 | 25-NSE | 25-NSE: Filing | sec.gov ↗ |
| Sep 9, 26 | 4 | Form 4: Dallaire Seth (Executive Vice President) — tax withholding 387 sh | sec.gov ↗ |
| Sep 9, 26 | 4 | Form 4: Milum Dwayne M (SVP & Controller) — tax withholding 121 sh | sec.gov ↗ |
| Sep 9, 26 | 4 | Form 4: Guggina David W (Executive Vice President) — tax withholding 118 sh | sec.gov ↗ |
| Sep 9, 26 | 4 | Form 4: Watkins Latriece (Executive Vice President) — tax withholding 227 sh | sec.gov ↗ |
| Sep 2, 26 | 4 | Form 4: Bartlett Daniel J (Executive Vice President) — open-market sale 3,950 sh | sec.gov ↗ |
| Sep 1, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-01 | Bartlett Daniel J Executive Vice President | Sale 10b5-1 plan | 4.0K | $104.41 | $416.6K |
| 2026-09-17 | Nicholas Christopher James Executive Vice President | Sale 10b5-1 plan | 2.9K | $106.65 | $309.3K |
| 2026-09-17 | Furner John R. President & CEO, Director | Sale 10b5-1 plan | 13.1K | $106.66 | $1.4M |
| 2026-09-01 | Bartlett Daniel J Executive Vice President | Sale 10b5-1 plan | 4.0K | $105.14 | $415.3K |
| 2026-08-26 | Danker Daniel Executive Vice President | Sale 10b5-1 plan | 50.6K | $105.35 | $5.3M |
| 2026-08-20 | Nicholas Christopher James Executive Vice President | Sale 10b5-1 plan | 2.9K | $106.34 | $308.4K |
| 2026-08-03 | Bartlett Daniel J Executive Vice President | Sale 10b5-1 plan | 3.7K | $113.10 | $419.6K |
| 2026-07-16 | Nicholas Christopher James Executive Vice President | Sale 10b5-1 plan | 2.9K | $114.14 | $331.0K |
| 2026-07-01 | Bartlett Daniel J Executive Vice President | Sale 10b5-1 plan | 3.8K | $109.64 | $413.9K |
| 2026-06-18 | Nicholas Christopher James Executive Vice President | Sale 10b5-1 plan | 2.9K | $118.19 | $342.8K |
| 2026-06-16 | Walton Family Holdings Trust 10% Owner | Sale | 4.4M | $121.09 | $535.8M |
| 2026-06-15 | Bartlett Daniel J Executive Vice President | Sale 10b5-1 plan | 1.4K | $119.83 | $166.0K |
| 2026-06-10 | Guggina David W Executive Vice President | Sale 10b5-1 plan | 12.0K | $119.82 | $1.4M |
| 2026-06-02 | Walton Family Holdings Trust 10% Owner | Sale | 1.8M | $113.32 | $200.7M |
| 2026-05-28 | Watkins Latriece Executive Vice President | Sale | 11.0K | $118.97 | $1.3M |
| 2026-05-28 | McMillon C Douglas Director | Sale 10b5-1 plan | 19.4K | $118.63 | $2.3M |
| 2026-05-28 | Walton Family Holdings Trust 10% Owner | Sale | 207.6K | $119.01 | $24.7M |
| 2026-05-27 | Walton Family Holdings Trust 10% Owner | Sale | 254.2K | $119.05 | $30.3M |
| 2026-05-26 | Walton Family Holdings Trust 10% Owner | Sale | 532.3K | $119.21 | $63.5M |
| 2026-05-22 | Walton Family Holdings Trust 10% Owner | Sale | 1.6M | $120.00 | $191.0M |
| 2026-05-21 | Nicholas Christopher James Executive Vice President | Sale 10b5-1 plan | 2.9K | $123.92 | $359.4K |
| 2026-05-21 | Furner John R. President & CEO, Director | Sale 10b5-1 plan | 13.1K | $124.08 | $1.6M |
| 2026-05-15 | Bartlett Daniel J Executive Vice President | Sale 10b5-1 plan | 1.3K | $133.77 | $167.2K |
| 2026-04-23 | McMillon C Douglas Director | Sale 10b5-1 plan | 19.4K | $132.21 | $2.6M |
| 2026-04-16 | Furner John R. President & CEO, Director | Sale 10b5-1 plan | 13.1K | $124.84 | $1.6M |