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Walmart (WMT)
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Walmart Income Statement 2026-2007 | WMT
Brief overview of financial results at Walmart
This overview is based on financial performance over the past five years. According to figures from Walmart, revenue changed from $559 billion to $713 billion over five years. Overall revenue changed by +27.5%, equal to an annualized rate of about 5%. The scale of the core business was largely unchanged.
Gross profit changed from $139 billion to $178 billion (+28%). Cost of revenue moved broadly in line with sales. Gross profit as a share of revenue changed from 24.8% to 24.9%. The relationship between gross profit and revenue changed only slightly.
EBITDA changed from 33.7 billion dollars to 44 billion dollars (+30.6%). EBITDA broadly followed the top-line trend. The EBITDA share of revenue changed from 6% to 6.2%. Operating efficiency did not change materially.
Net profit was $13.5 billion at the start and $21.9 billion at the end. The final year delivered the highest net income in the period.
Conclusion
The results present an uneven picture without one dominant signal. The strongest signals are net-income growth, a steady EBITDA margin and a stable gross margin. The overall view is constrained by a softer top-line trend. Further direction will depend on top-line growth, operating profitability, and net income.
Annual Income Statement Walmart
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
- | - | 490 B | 1.13 T | 1.16 T | 394 B | 307 B | 287 B | 266 B | 219 B | 213 B | 271 B | 244 B | 242 B | 204 B | 190 B | 65.6 B | 66.4 B | 77.5 B | - |
Shares |
7.98 B | 8.04 B | 8.08 B | 8.17 B | 8.38 B | 2.83 B | 2.85 B | 2.93 B | 3 B | 3.1 B | 3.21 B | 3.23 B | 3.27 B | 3.37 B | 3.46 B | 3.66 B | 3.87 B | 3.94 B | 4.07 B | - |
Historical Prices |
- | - | 60.7 | 139 | 139 | 139 | 138 | 110 | 90.4 | 97.8 | 59.6 | 57.5 | 71.8 | 61.6 | 56.3 | 48.2 | 17 | 16.9 | 19.1 | 16.5 |
Net Income |
21.9 B | 19.4 B | 15.5 B | 11.7 B | 13.7 B | 13.5 B | 14.9 B | 6.67 B | 9.86 B | 13.6 B | 14.7 B | 16.4 B | 16 B | 17 B | 15.7 B | 16.4 B | 3.44 B | 3.14 B | 12.7 B | - |
Revenue |
713 B | 681 B | 648 B | 611 B | 573 B | 559 B | 524 B | 514 B | 500 B | 486 B | 482 B | 486 B | 476 B | 469 B | 447 B | 422 B | 408 B | 404 B | 377 B | - |
Cost of Revenue |
535 B | 512 B | 490 B | 464 B | 429 B | 420 B | 395 B | 385 B | 373 B | 361 B | 361 B | 365 B | 358 B | 352 B | 335 B | 315 B | 75.8 B | 73.9 B | 284 B | - |
Gross Profit |
- | - | - | - | - | - | 129 B | 129 B | 127 B | 125 B | 121 B | 121 B | 118 B | 117 B | 112 B | 107 B | - | - | - | - |
Operating Income |
29.8 B | 29.3 B | 27 B | 20.4 B | 25.9 B | 22.5 B | 20.6 B | 22 B | 20.4 B | 22.8 B | 24.1 B | 27.1 B | 26.9 B | 27.7 B | 26.5 B | 25.5 B | 24 B | 22.8 B | 22 B | - |
Interest Expense |
- | - | -2.14 B | -1.87 B | -1.84 B | -2.19 B | -2.41 B | -2.13 B | -2.18 B | -2.27 B | -2.47 B | -2.35 B | -2.22 B | -2.06 B | -2.16 B | -2 B | -1.88 B | -1.9 B | -1.79 B | - |
EBITDA |
44 B | 42.3 B | 38.9 B | 31.4 B | 36.6 B | 33.7 B | 31.6 B | 32.6 B | 31 B | 32.8 B | 33.6 B | 36.3 B | 35.7 B | 36.3 B | 34.7 B | 33.2 B | 31.2 B | 29.5 B | 28.3 B | - |
Operating Expenses |
- | - | - | - | - | - | 109 B | 107 B | 107 B | 102 B | 97 B | 93.4 B | 91.4 B | 88.9 B | 85.3 B | 81 B | - | - | - | - |
General and Administrative Expenses |
148 B | 140 B | 131 B | 127 B | 118 B | 116 B | 109 B | 107 B | 107 B | 102 B | 97 B | 93.4 B | 91.4 B | 88.9 B | 85.3 B | 81 B | 80 B | 77.5 B | 70.9 B | - |
Annual performance
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All numbers in USD currency
Quarterly Income Statement Walmart
| 2027-Q2 | 2027-Q1 | 2026-Q4 | 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q4 | 2010-Q3 | 2010-Q2 | 2010-Q1 | 2009-Q4 | 2009-Q3 | 2009-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
7.98 B | 7.97 B | - | 7.97 B | 7.98 B | 8.01 B | - | 7.97 B | 7.98 B | 8.01 B | - | 8.04 B | 8.04 B | 8.05 B | - | 2.69 B | 8.08 B | 8.08 B | - | 2.71 B | 2.74 B | 2.75 B | - | 2.78 B | 2.8 B | 2.82 B | - | 2.83 B | 2.83 B | 2.83 B | - | 2.84 B | 2.85 B | 2.87 B | - | 2.92 B | 2.95 B | 2.95 B | - | 2.98 B | 3.01 B | 3.04 B | - | 3.09 B | 3.11 B | 3.14 B | - | 3.21 B | 3.22 B | 3.23 B | - | 3.23 B | 3.23 B | 3.23 B | - | 3.26 B | 3.28 B | 3.3 B | 3.42 B | 3.36 B | 3.38 B | 3.41 B | 3.52 B | 3.44 B | 3.47 B | 3.5 B | - | 3.62 B | 3.7 B | 3.76 B | - | 3.85 B | 3.89 B |
Net Income |
7.15 B | 5.33 B | - | 6.14 B | 7.03 B | 4.49 B | - | 6.14 B | 7.03 B | 4.49 B | - | 4.58 B | 4.5 B | 5.1 B | - | 453 M | 7.89 B | 1.67 B | - | -1.8 B | 5.15 B | 2.05 B | - | 3.1 B | 4.36 B | 2.81 B | 4.14 B | 5.14 B | 6.48 B | 3.99 B | 3.69 B | 3.29 B | 3.61 B | 3.84 B | 2.18 B | 1.71 B | -861 M | 2.13 B | 3.76 B | 1.75 B | 2.9 B | 3.04 B | 4.57 B | 3.03 B | 3.77 B | 3.08 B | 4.97 B | 3.3 B | 3.48 B | 3.34 B | 4.43 B | 3.71 B | 4.09 B | 3.59 B | 5.61 B | 3.74 B | 4.07 B | 3.78 B | 5.16 B | 3.64 B | 4.02 B | 3.74 B | 6.06 B | 3.34 B | 3.8 B | 3.4 B | 3.11 B | 3.44 B | 3.6 B | 3.32 B | - | 3.24 B | 3.44 B |
Revenue |
176 B | 178 B | - | 179 B | 177 B | 166 B | - | 179 B | 177 B | 166 B | - | 170 B | 169 B | 162 B | - | 161 B | 162 B | 152 B | - | 153 B | 153 B | 142 B | - | 141 B | 141 B | 138 B | 142 B | 135 B | 138 B | 135 B | 139 B | 128 B | 130 B | 124 B | 135 B | 125 B | 127 B | 122 B | 130 B | 122 B | 122 B | 117 B | 129 B | 117 B | 119 B | 115 B | 131 B | 117 B | 119 B | 114 B | 129 B | 118 B | 119 B | 114 B | 127 B | 115 B | 116 B | 113 B | 122 B | 113 B | 114 B | 112 B | 116 B | 110 B | 109 B | 103 B | - | 102 B | 104 B | 99.8 B | - | 99.4 B | 101 B |
Cost of Revenue |
133 B | 133 B | - | 135 B | 133 B | 124 B | - | 135 B | 133 B | 124 B | - | 127 B | 127 B | 121 B | - | 121 B | 122 B | 115 B | - | 116 B | 116 B | 107 B | - | 105 B | 105 B | 103 B | 108 B | 100 B | 103 B | 102 B | 105 B | 95.9 B | 97.9 B | 93 B | 103 B | 93.1 B | 95.6 B | 91.7 B | 97.7 B | 91.5 B | 91.5 B | 87.7 B | 97 B | 87.5 B | 89.5 B | 86.5 B | 99.1 B | 87.4 B | 90.1 B | 86.5 B | 98 B | 89.2 B | 90 B | 86.7 B | 96.1 B | 86.7 B | 87.4 B | 86 B | 92.6 B | 85.5 B | 85.6 B | 85.1 B | 87.1 B | 82.6 B | 81.8 B | 78.2 B | 70.4 B | 75.9 B | 77.5 B | 74.7 B | - | 73.8 B | 75.2 B |
Operating Income |
7.29 B | 7.49 B | - | 6.7 B | 7.29 B | 7.14 B | - | 6.7 B | 7.29 B | 7.14 B | - | 6.71 B | 7.94 B | 6.84 B | - | 6.2 B | 7.32 B | 6.24 B | - | 2.7 B | 6.85 B | 5.32 B | - | 5.79 B | 7.35 B | 6.91 B | - | 5.78 B | 6.06 B | 5.22 B | - | 4.72 B | 5.58 B | 4.94 B | - | 4.99 B | 5.75 B | 5.15 B | - | 4.76 B | 5.97 B | 5.24 B | - | 5.12 B | 6.16 B | 5.28 B | - | 5.71 B | 6.07 B | 5.68 B | - | 6.26 B | 6.74 B | 6.19 B | - | 6.31 B | 6.78 B | 6.44 B | - | 6.09 B | 6.7 B | 6.39 B | - | 5.88 B | 6.38 B | 5.9 B | - | 5.61 B | 6.19 B | 5.77 B | - | 5.59 B | 5.88 B |
Interest Expense |
- | - | - | - | - | - | - | - | - | - | - | - | - | -600 M | - | -537 M | -494 M | -557 M | - | -500 M | -448 M | -419 M | - | -442 M | -478 M | -536 M | - | -516 M | -635 M | -549 M | - | -589 M | -585 M | -625 M | - | -534 M | -503 M | -487 M | - | -541 M | -575 M | -563 M | - | -585 M | -566 M | -561 M | - | -552 M | -543 M | -824 M | - | -656 M | -538 M | -568 M | - | -580 M | -552 M | -530 M | - | -546 M | -505 M | -535 M | - | -535 M | -578 M | -518 M | - | -516 M | -485 M | -471 M | - | -475 M | -473 M |
EBITDA |
10.8 B | 11.3 B | - | 10.3 B | 10.8 B | 10.5 B | - | 10.3 B | 10.8 B | 10.5 B | - | 9.97 B | 11.2 B | 9.97 B | - | - | - | 9.08 B | - | 10.8 B | 12.2 B | 8 B | - | 13.7 B | 12.7 B | 9.57 B | - | 14.1 B | 11.6 B | 8.02 B | - | 12.9 B | 11 B | 7.66 B | - | 4.99 B | 5.75 B | 7.83 B | - | 12.6 B | 11.1 B | 7.79 B | - | 12.5 B | 11.1 B | 7.66 B | - | 12.7 B | 10.7 B | 8 B | - | 13.1 B | 11.3 B | 8.44 B | - | 12.9 B | 11.2 B | 8.62 B | - | 12.4 B | 10.9 B | 8.49 B | - | 11.9 B | 10.4 B | 7.88 B | - | 11.2 B | 9.94 B | 7.64 B | - | 10.8 B | 9.34 B |
General and Administrative Expenses |
37.3 B | 37.2 B | - | 38.1 B | 37.3 B | 34.2 B | - | 38.1 B | 37.3 B | 34.2 B | - | 35.5 B | 34.6 B | 33.2 B | - | 33.4 B | 32.5 B | 30.8 B | - | 34.5 B | 30.2 B | 29.4 B | - | 29.7 B | 28.5 B | 28.1 B | - | 28.6 B | 29 B | 27.4 B | - | 27.4 B | 26.9 B | 25.9 B | - | 26.8 B | 26.7 B | 25.8 B | - | 26.9 B | 25.9 B | 24.6 B | - | 25.6 B | 25.2 B | 24.1 B | - | 24.2 B | 24.1 B | 22.7 B | - | 23.5 B | 23.4 B | 22.1 B | - | 22.7 B | 22.6 B | 21.6 B | - | 22.2 B | 21.9 B | 21.4 B | - | 21.8 B | 21.2 B | 20.1 B | - | 20.4 B | 20 B | 19.4 B | - | 20 B | 19.9 B |
Quarterly performance
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All numbers in USD currency
The income statement is one of the three key financial reports of a company Walmart (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.