COVERAGE / WMT / Consumer

Walmart Inc.

Retail-Variety Stores

COVERAGE STATUSACTIVE

DATA THROUGH2026-01-31

RESEARCH REPORTS2

SELECTED FILINGS1

Fundamental matrix

Latest / 2026-01-31 · Prior / 2025-01-31 · USD · Annual periods

Revenue

$706.41bn

Prior / $674.54bn

Change / +4.73%

SOURCE / 2026-03-13

Operating income

$29.83bn

Prior / $29.35bn

Change / +1.63%

SOURCE / 2026-03-13

Net income

$21.89bn

Prior / $19.44bn

Change / +12.64%

SOURCE / 2026-03-13

Diluted EPS

$2.73

Prior / $2.41

Change / +13.28%

SOURCE / 2026-03-13

Free cash flow

$14.92bn

Prior / $12.66bn

Change / +17.88%

SOURCE / 2026-03-13

Gross margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Operating margin

4.22%

Prior / 4.35%

Change / -0.13 pp

SOURCE / 2026-03-13

Return on avg. equity

22.97%

Prior / 22.23%

Change / +0.74 pp

SOURCE / 2026-03-13

Debt / equity

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

ROE uses net income divided by average opening/closing equity. FCF = operating cash flow − selected capital expenditure. Debt/equity is unavailable because a verified interest-bearing-debt series is absent; total liabilities are not substituted for debt.

Inspect source tags, dates and accession numbers

{
  "revenue": {
    "start": "2025-02-01",
    "end": "2026-01-31",
    "val": 706413000000,
    "accn": "0000104169-26-000055",
    "fy": 2026,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-13",
    "frame": "CY2025",
    "tag": "us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax",
    "unit": "USD"
  },
  "netIncome": {
    "start": "2025-02-01",
    "end": "2026-01-31",
    "val": 21893000000,
    "accn": "0000104169-26-000055",
    "fy": 2026,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-13",
    "tag": "us-gaap:NetIncomeLoss",
    "unit": "USD"
  },
  "operatingIncome": {
    "start": "2025-02-01",
    "end": "2026-01-31",
    "val": 29825000000,
    "accn": "0000104169-26-000055",
    "fy": 2026,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-13",
    "frame": "CY2025",
    "tag": "us-gaap:OperatingIncomeLoss",
    "unit": "USD"
  },
  "eps": {
    "start": "2025-02-01",
    "end": "2026-01-31",
    "val": 2.73,
    "accn": "0000104169-26-000055",
    "fy": 2026,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-13",
    "frame": "CY2025",
    "tag": "us-gaap:EarningsPerShareDiluted",
    "unit": "USD/shares"
  },
  "operatingCashFlow": {
    "start": "2025-02-01",
    "end": "2026-01-31",
    "val": 41565000000,
    "accn": "0000104169-26-000055",
    "fy": 2026,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-13",
    "frame": "CY2025",
    "tag": "us-gaap:NetCashProvidedByUsedInOperatingActivities",
    "unit": "USD"
  },
  "capex": {
    "start": "2025-02-01",
    "end": "2026-01-31",
    "val": 26642000000,
    "accn": "0000104169-26-000055",
    "fy": 2026,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-13",
    "frame": "CY2025",
    "tag": "us-gaap:PaymentsToAcquirePropertyPlantAndEquipment",
    "unit": "USD"
  },
  "totalAssets": {
    "end": "2026-01-31",
    "val": 284668000000,
    "accn": "0000104169-26-000055",
    "fy": 2026,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-13",
    "tag": "us-gaap:Assets",
    "unit": "USD"
  },
  "shareholdersEquity": {
    "end": "2026-01-31",
    "val": 99617000000,
    "accn": "0000104169-26-000055",
    "fy": 2026,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-13",
    "tag": "us-gaap:StockholdersEquity",
    "unit": "USD"
  },
  "currentAssets": {
    "end": "2026-01-31",
    "val": 84874000000,
    "accn": "0000104169-26-000055",
    "fy": 2026,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-13",
    "tag": "us-gaap:AssetsCurrent",
    "unit": "USD"
  },
  "currentLiabilities": {
    "end": "2026-01-31",
    "val": 107469000000,
    "accn": "0000104169-26-000055",
    "fy": 2026,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-03-13",
    "tag": "us-gaap:LiabilitiesCurrent",
    "unit": "USD"
  }
}

Financial trend system

Annual financial trends are summarized in the accessible table below.

Annual figures / accessible table

Period end	Revenue	Net income	Free cash flow	EPS
2026-01-31	$706.41bn	$21.89bn	$14.92bn	$2.73
2025-01-31	$674.54bn	$19.44bn	$12.66bn	$2.41
2024-01-31	$642.64bn	$15.51bn	$15.12bn	$1.91
2023-01-31	$605.88bn	$11.68bn	$11.98bn	$1.42

Valuation context

Historical snapshot / 2026-09-17. Annual accounting period / 2026-01-31. Not current, TTM or forward valuation.

Dated ratios / eligible same-method sector sample
Measure	Snapshot value	Historical median	Sector median	Peer count
P/E	39.12x	Unavailable	30.90x	14
P/S	1.20x	Unavailable	2.31x	13
P/B	8.51x	Unavailable	11.78x	9
EV / EBITDA	Unavailable	Unavailable	Unavailable	0
FCF yield	1.76%	Unavailable	2.22%	9

Annual denominators, not TTM or forward. Capitalization-based measures use estimated market capitalization from the dated quote snapshot. ADR/share-basis uncertainty is excluded. No comparable historical-multiple series or EV/EBITDA is available. Sector samples are equal-weight medians of this publication’s eligible covered companies; fiscal periods differ. No fair value or price target is implied.

Source: Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-08-26 DAILY-BAR SOURCE ↗

Retained price snapshot and capitalization estimate

{
  "currentPrice": 106.79,
  "tradingDate": "2026-09-17",
  "marketCap": 847244761076.39,
  "source": "Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-08-26"
}

Company & operating context

Walmart Inc. is an SEC-reporting issuer listed on NASDAQ under WMT. Its SEC industry description is Retail-Variety Stores. This profile organizes annual financial disclosures for research; sector labels are editorial groupings, not GICS classifications.

Retailers, consumer brands and service platforms balance demand, price, unit volume and operating costs.

Segment-level revenue is not included in this standardized dataset. Consult the business and segment notes in the linked annual filing for the issuer’s actual reporting segments.

Filing timeline

10-KFILED / 2026-03-13PERIOD / 2026-01-31

WMT filed this 10-K on 2026-03-13 for the reported period 2026-01-31. Reading focus: Unit volumes, comparable sales, inventory, pricing and operating leverage. This is a metadata-based reading guide; it does not assert that a particular event or risk change occurred in the document.

ORIGINAL SEC DISCLOSURE ↗

Research archive

HR-0155WMTEarnings Review

WMT: the annual earnings and cash-flow comparison ↗

Walmart Inc.

Research abstract

A two-period review of WMT revenue, profitability and cash conversion; reported revenue growth was 4.73%.

DATA THROUGH2026-01-312 MIN READPUBLISHED 2026-09-26

HR-0156WMTCompany Research

WMT: reading the FY2026 financial structure ↗

Walmart Inc.

Research abstract

Annual revenue of USD 706.413 billion and net income of USD 21.893 billion for the period ended 2026-01-31.

DATA THROUGH2026-01-312 MIN READPUBLISHED 2026-09-26

Sector context & risk factors

Consumer affordability, input inflation, competitive promotions and discretionary demand.

Unit volumes, comparable sales, inventory, pricing and operating leverage.

CONSUMER SYSTEM ↗

Sources & dates

SEC annual filing · 2026-01-31 ↗Source date 2026-03-13
SEC annual filing · 2025-01-31 ↗Source date 2026-03-13
SEC annual filing · 2024-01-31 ↗Source date 2026-03-13
SEC annual filing · 2023-01-31 ↗Source date 2025-03-14
SEC issuer record ↗Source date 2026-09-18