WMT Financials Walmart

15 years of revenue, profit, cash flow and balance-sheet history through FY2026, from SEC filings — with a computed, factual read of the trend. Updated 28 h ago Overview →

Growth & profitability

Revenue has grown 4.9% per year over the past 5 years.
Net income has grown faster than revenue (10.1% vs 4.9% per year).
Operating margin has been roughly flat, at 4.2% in the latest year.
Free cash flow has declined 10.4% per year over the past 5 years.

Financial health

Total debt ($38.2B) exceeds cash ($10.7B); net debt is $27.4B.
Total debt has grown slower than revenue (-2.9% vs 4.9% per year).
Total debt is 0.9× EBITDA.

Shareholder returns

Dividends have been paid for 8 consecutive years, consuming 34.3% of earnings and 50.3% of free cash flow.
The dividend has grown 4.2% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
2026	$706.4B	$21.9B	24.2%	4.2%	$14.9B	$38.2B	$10.7B
2025	$674.5B	$19.4B	24.1%	4.4%	$12.7B	$36.0B	$9.0B
2024	$642.6B	$15.5B	23.7%	4.2%	$15.1B	$39.6B	$9.9B
2023	$605.9B	$11.7B	23.5%	3.4%	$12.0B	$38.8B	$8.6B
2022	$567.8B	$13.7B	24.4%	4.6%	$11.1B	$37.7B	$14.8B
2021	$555.2B	$13.5B	24.3%	4.1%	$25.8B	$44.3B	$17.7B
2020	$519.9B	$14.9B	24.1%	4.0%	$14.6B	$49.1B	$9.5B
2019	$510.3B	$6.7B	24.5%	4.3%	$17.4B	$45.4B	$7.7B
2018	$495.8B	$9.9B	24.7%	4.1%	$18.3B	$33.8B	$6.8B
2017	$481.3B	$13.6B	24.9%	4.7%	$21.1B	$38.3B	$6.9B
2016	—	$14.7B	—	—	$16.1B	$41.0B	$8.7B
2015	—	$16.4B	—	—	$16.4B	$45.7B	$9.1B
2014	—	$16.0B	—	—	$10.1B	$45.9B	$7.3B
2013	—	$17.0B	—	—	$12.7B	$50.8B	$7.8B
2012	—	$15.7B	—	—	$10.7B	$50.1B	$6.5B

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
Apr '26	$175.7B	$5.3B	24.3%	4.3%	-$1.9B	$40.8B	$10.7B
Jan '26	$188.9B	$4.2B	24.0%	4.6%	$6.1B	$38.2B	$10.7B
Oct '25	$177.8B	$6.1B	24.2%	3.8%	$1.9B	$38.0B	$10.6B
Jul '25	$175.8B	$7.0B	24.5%	4.1%	$6.5B	$39.7B	$9.4B
Apr '25	$164.0B	$4.5B	24.2%	4.4%	$425M	$40.6B	$9.3B
Jan '25	$178.8B	$5.3B	23.9%	4.4%	$6.4B	$36.0B	$9.0B
Oct '24	$168.0B	$4.6B	24.2%	4.0%	$372M	$36.9B	$10.0B
Jul '24	$167.8B	$4.5B	24.4%	4.7%	$6.3B	$36.9B	$8.8B
Apr '24	$159.9B	$5.1B	24.1%	4.3%	-$427M	$37.8B	$9.4B
Jan '24	$171.9B	$5.5B	23.3%	4.2%	$10.8B	$39.6B	$9.9B
Oct '23	$159.4B	$453M	24.0%	3.9%	-$4.6B	$39.1B	$12.2B
Jul '23	$160.3B	$7.9B	24.0%	4.6%	$8.8B	$39.7B	$13.9B
Apr '23	$151.0B	$1.7B	23.7%	4.1%	$204M	$42.1B	$10.6B
Jan '23	$162.7B	$6.3B	22.9%	3.4%	$8.3B	$38.8B	$8.6B
Oct '22	$151.5B	-$1.8B	23.7%	1.8%	$1.9B	$39.4B	$11.6B
Jul '22	$151.4B	$5.1B	23.5%	4.5%	$9.0B	$35.1B	$13.9B
Apr '22	$140.3B	$2.1B	23.8%	3.8%	-$7.3B	$35.8B	$11.8B
Jan '22	$151.5B	$3.6B	23.8%	3.9%	$3.4B	$37.7B	$14.8B
Oct '21	$139.2B	$3.1B	24.6%	4.2%	$299M	$38.0B	$16.1B
Jul '21	$139.9B	$4.3B	24.8%	5.3%	$6.8B	$41.2B	$22.8B

Valuation over time

How the market has priced WMT against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 33.5× (Mar '23) to 42.2× (Jun '26).
The price-to-sales ratio has risen from 0.6× (Mar '23) to 1.3× (Jun '26).
The dividend yield has fallen from 1.6% (Mar '23) to 0.8% (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is WMT growing its revenue and profit?

Over the past 5 years, Walmart's revenue has grown 4.9% per year, and net income grown 10.1% per year. These are computed facts, not advice.

How much debt does WMT have?

As of FY2026, Walmart reported $38.2B of total debt against $10.7B of cash.

What is WMT's profit margin?

In FY2026, gross margin was 24.2%, operating margin 4.2%, and net margin 3.1%.

What is WMT's P/E ratio?

As of Jun '26, Walmart traded at a price-to-earnings ratio of about 42.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.