Walmart

Consumer Staples Consumer Staples Merchandise Retail Bentonville, Arkansas Last filing Mar 13, 2026 · FY2026

                    Revenue
                    FY2026
                
$713.2B
                    3y CAGR +5.3%
                    
                    P87
                    
                    +4.7%
                    
                    Net income
                    FY2026
                
$21.9B
                    Net margin +3.1%
                    
                    P47
                    
                    +12.6%
                    
                    Total assets
                    FY2026
                
$284.7B
                    ROA +7.7%
                    
                    P73
                    
                    +9.1%
                    
                    Operating cash flow
                    FY2026
                
$41.6B
                    FCF margin +2.1%
                    
                    P7
                    
                    +14.1%

18 yrs · FY2009–FY2026 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 10 years

Total assets $284.7B

Total liabilities ~$185.1B

Shareholders equity $99.6B

Account	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
Assets
Cash and Cash Equivalents	3.8%	3.5%	3.9%	3.5%	6.0%	7.0%	4.0%	3.5%	3.3%	3.5%
Accounts Receivable	3.9%	3.8%	3.5%	3.3%	3.4%	2.6%	2.7%	2.9%	2.7%	2.9%
Inventory	20.7%	21.6%	21.7%	23.3%	23.1%	17.8%	18.8%	20.2%	21.4%	21.7%
Prepaid Expenses	1.4%	1.5%	1.3%	1.0%	0.6%	8.3%	0.7%	1.7%	1.7%	1.0%
Total Current Assets	29.8%	30.5%	30.5%	31.1%	33.1%	35.7%	26.1%	28.2%	29.2%	29.0%
Property,Plant and Equipment	47.8%	46.0%	43.9%	41.4%	38.6%	36.5%	44.5%	50.8%	56.1%	57.4%
Operating Lease Assets	5.2%	5.2%	5.4%	5.6%	5.6%	5.4%	7.4%	0.0%	—	—
Goodwill	10.1%	11.0%	11.1%	11.6%	11.8%	11.5%	13.1%	14.2%	8.9%	8.6%
Other Noncurrent Assets	7.1%	7.3%	9.1%	10.3%	10.8%	10.9%	8.9%	6.8%	5.8%	5.0%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	22.2%	22.5%	22.5%	22.1%	22.6%	19.5%	19.9%	21.5%	22.5%	20.8%
Accrued Liabilities	11.2%	11.5%	11.5%	13.1%	11.0%	15.1%	9.5%	10.3%	11.1%	10.9%
Current Portion of Long Term Debt	3.6%	2.2%	1.7%	1.9%	1.3%	1.3%	2.5%	3.2%	4.4%	1.7%
Operating Lease Liabilities	0.6%	0.6%	0.6%	0.6%	0.6%	0.6%	0.8%	0.0%	—	—
Other Current Liabilities	0.3%	0.3%	0.3%	0.2%	0.2%	0.2%	0.2%	0.3%	0.3%	0.3%
Total Current Liabilities	37.8%	37.0%	36.6%	37.9%	35.7%	36.7%	32.9%	35.3%	38.4%	33.7%
Long Term Debt	12.2%	12.8%	14.3%	14.2%	14.2%	16.3%	18.5%	19.8%	14.7%	18.1%
Operating Lease Liabilities Noncurrent	4.9%	4.9%	5.1%	5.3%	5.3%	5.1%	6.8%	0.0%	—	—
Deferred Tax Liabilities	5.8%	5.5%	5.8%	6.0%	5.5%	5.7%	5.5%	5.5%	4.1%	4.7%
Other Noncurrent Liabilities	2.1%	2.3%	2.3%	2.0%	1.7%	1.5%	1.8%	3.0%	3.3%	3.0%
Equity
Common Stock	0.3%	0.3%	0.3%	0.3%	0.1%	0.1%	0.1%	0.1%	0.1%	0.2%
Additional Paid In Capital	2.4%	2.1%	1.8%	1.8%	2.0%	1.4%	1.4%	1.4%	1.3%	1.2%
Retained Earnings	36.8%	37.7%	35.6%	34.2%	35.5%	35.2%	35.5%	36.8%	41.6%	44.9%
Accumulated Other Comprehensive Income	-4.5%	-5.2%	-4.5%	-4.8%	-3.6%	-4.7%	-5.4%	-5.3%	-5.0%	-7.2%
Total Stockholders Equity	35.0%	34.9%	33.2%	31.5%	34.0%	32.1%	31.6%	33.1%	38.1%	39.1%
Noncontrolling Interest	2.2%	2.5%	2.6%	2.9%	3.5%	2.6%	2.9%	3.3%	1.4%	1.4%
Temporary Equity and Other	0.1%	0.1%	0.1%	0.1%	0.0%	—	—	—	—	—
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

15 accounts · 10 years

Revenue $713.2B

Operating income $29.8B

Net income $21.9B

Account	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
IncomeStatement
Revenues Total Revenue	250.5%	261.1%	256.8%	251.4%	233.9%	221.4%	221.6%	234.6%	244.6%	244.4%
Expenses Cost of Revenue	188.1%	196.2%	194.2%	190.7%	175.2%	166.5%	166.9%	175.7%	182.6%	181.7%
Expenses Selling,General and Administrative	52.0%	53.6%	51.9%	52.3%	48.1%	46.1%	46.0%	48.9%	52.1%	51.2%
Other Income Expense Operating Income	10.5%	11.3%	10.7%	8.4%	10.6%	8.9%	8.7%	10.0%	10.0%	11.4%
Other Income Expense Interest Income	0.1%	0.2%	0.2%	0.1%	0.1%	0.0%	0.1%	0.1%	0.1%	0.1%
Other Income Expense Interest Expense	1.0%	1.0%	1.1%	0.9%	0.8%	0.9%	1.1%	1.1%	1.0%	1.0%
Other Income Expense Other Income/expense	0.7%	-0.3%	-1.2%	-0.6%	-2.2%	0.1%	0.8%	-3.8%	-1.7%	-0.2%
Other Income Expense Income Before Tax	10.4%	10.1%	8.7%	7.0%	7.6%	8.1%	8.5%	5.2%	7.4%	10.3%
Income Tax Income Tax Expense	2.5%	2.4%	2.2%	2.4%	1.9%	2.7%	2.1%	2.0%	2.2%	3.1%
net Income Other Items Below Tax	-0.1%	-0.3%	-0.3%	0.2%	-0.1%	-0.1%	-0.1%	-0.2%	-0.3%	-0.3%
net Income net Income	7.7%	7.5%	6.1%	4.8%	5.6%	5.4%	6.3%	3.0%	4.8%	6.9%
net Income Comprehensive Income	8.0%	6.6%	6.3%	4.1%	6.8%	5.8%	5.8%	3.1%	6.8%	5.5%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	2.8%	3.1%	3.2%	3.4%	3.4%	1.1%	1.2%	1.3%	1.5%	1.6%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 10 years

Operating cash flow $41.6B

Investing cash flow $-26.4B

Financing cash flow $-13.6B

Account	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
CashFlow
Operating Activities net Income	7.8%	7.7%	6.4%	4.6%	5.7%	5.4%	6.4%	3.3%	5.1%	7.2%
Operating Activities Depreciation and Amortization	5.0%	5.0%	4.7%	4.5%	4.4%	4.4%	4.6%	4.9%	5.1%	—
Operating Activities Deferred Income Taxes	0.8%	-0.2%	-0.1%	0.2%	-0.3%	0.8%	0.1%	-0.2%	-0.1%	0.4%
Operating Activities Changes In Operating Assets and Liabilities	0.3%	0.1%	0.8%	1.0%	-2.7%	3.2%	-0.6%	0.1%	1.6%	3.2%
Operating Activities Other Non Cash Items	0.7%	1.4%	2.3%	1.5%	2.8%	0.5%	0.0%	4.6%	2.1%	0.1%
Operating Activities net Cash From Operating Activities	14.6%	14.0%	14.2%	11.9%	9.9%	14.3%	10.7%	12.7%	13.9%	15.9%
Investing Activities Capital Expenditures	-9.4%	-9.1%	-8.2%	-6.9%	-5.4%	-4.1%	-4.5%	-4.7%	-4.9%	-5.3%
Investing Activities Business Acquisitions	-0.0%	-0.7%	-0.0%	-0.3%	3.1%	-0.0%	0.3%	-6.3%	0.3%	-0.9%
Investing Activities Proceeds From Sale of Investments	0.3%	1.6%	0.0%	0.0%	—	—	—	—	—	—
Investing Activities Other Investing Activities	-0.2%	0.1%	-0.3%	-0.1%	-0.2%	0.1%	0.3%	0.0%	0.1%	0.2%
Investing Activities net Cash From Investing Activities	-9.3%	-8.2%	-8.4%	-7.3%	-2.5%	-4.0%	-3.9%	-11.0%	-4.4%	-7.0%
Financing Activities Proceeds From Debt	1.4%	0.0%	2.0%	2.1%	2.8%	0.0%	2.3%	7.2%	3.7%	0.1%
Financing Activities Repayment of Debt	-0.9%	-1.3%	-1.7%	-1.1%	-6.3%	-2.1%	-0.8%	-1.7%	-7.9%	-1.0%
Financing Activities Repurchase of Common Stock	-2.8%	-1.7%	-1.1%	-4.1%	-4.0%	-1.0%	-2.4%	-3.4%	-4.1%	-4.2%
Financing Activities Dividends Paid	-2.8%	-2.8%	-2.7%	-2.7%	-2.7%	-2.6%	-2.8%	-3.0%	-3.3%	-3.4%
Financing Activities Proceeds From Stock Issuance	0.0%	0.1%	0.3%	0.0%	1.3%	0.1%	0.0%	—	—	—
Financing Activities Other Financing Activities	0.4%	0.0%	-2.1%	-1.2%	-0.5%	-0.7%	-2.4%	-0.3%	1.9%	-1.1%
Financing Activities net Cash From Financing Activities	-4.8%	-5.7%	-5.3%	-7.0%	-9.3%	-6.4%	-6.0%	-1.2%	-9.7%	-9.6%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%	-0.2%	0.0%	-0.0%	-0.1%	0.1%	-0.0%	-0.2%	0.2%	-0.2%
Cash Reconciliation net Change In Cash	0.6%	-0.2%	0.4%	-2.5%	—	4.0%	0.7%	0.3%	-0.1%	-0.9%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
Profitability
Gross margin	+24.9%	+24.9%	+24.4%	+24.1%	+25.1%	+24.8%	+24.7%	+25.1%	+25.4%	+25.6%
Operating margin	+4.2%	+4.3%	+4.2%	+3.3%	+4.5%	+4.0%	+3.9%	+4.3%	+4.1%	+4.7%
Net margin	+3.1%	+2.9%	+2.4%	+1.9%	+2.4%	+2.4%	+2.8%	+1.3%	+2.0%	+2.8%
FCF margin	+2.1%	+1.9%	+2.3%	+2.0%	+1.9%	+4.6%	+2.8%	+3.4%	+3.7%	+4.3%
Growth
Revenue CAGR (3y)	+5.3%	+5.9%	+5.0%	+5.3%	+3.6%	+3.8%	+2.5%	+2.2%	+1.0%	+0.7%
Returns
ROE	+22.0%	+21.4%	+18.5%	+15.2%	+16.4%	+16.7%	+19.9%	+9.2%	+12.7%	+17.5%
ROA	+7.7%	+7.5%	+6.1%	+4.8%	+5.6%	+5.4%	+6.3%	+3.0%	+4.8%	+6.9%
ROIC	+16.9%	+18.6%	+17.6%	+12.6%	+18.2%	+13.9%	+13.5%	+11.9%	+12.9%	+14.4%
Liquidity
Current ratio	0.79x	0.82x	0.83x	0.82x	0.93x	0.97x	0.79x	0.80x	0.76x	0.86x
Quick ratio	0.20x	0.20x	0.20x	0.18x	0.26x	0.26x	0.20x	0.18x	0.16x	0.19x
Leverage
D/E	1.86x	1.87x	2.01x	2.17x	1.94x	2.12x	2.17x	2.02x	1.63x	1.56x
Interest coverage	10.66x	10.76x	10.07x	9.60x	13.01x	9.74x	7.91x	9.36x	10.33x	11.14x
Efficiency
Asset turnover	2.51x	2.61x	2.57x	2.51x	2.34x	2.21x	2.22x	2.35x	2.45x	2.44x
Cash conversion cycle	+3d	+4d	+4d	+7d	+6d	+1d	+2d	+2d	+2d	+6d

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Walmart

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