Walmart's Income Statement Analysis: Revenue to Profit Breakdown
Walmart's Income Statement Analysis: Revenue to Profit Breakdown
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FY22
Jan 31, 2022
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FY23
Jan 31, 2023
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FY24
Jan 31, 2024
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FY25
Jan 31, 2025
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FY26
Jan 31, 2026
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TTM
Trailing 12M
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Revenue
Total sales generated. |
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$572.75 B | $611.29 B | $648.13 B | $680.99 B | $713.16 B | $735.84 B |
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Cost of Revenue Direct cost of goods/services. |
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$429.00 B | $463.72 B | $490.14 B | $511.75 B | $535.40 B | $550.18 B |
Gross Profit Revenue minus cost of revenue. |
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$143.75 B | $147.57 B | $157.98 B | $169.23 B | $177.77 B | $185.66 B |
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Operating Expense
Costs to run business. |
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$117.81 B | $127.14 B | $130.97 B | $139.88 B | $147.94 B | $153.38 B |
Research and Development Investment in innovation. |
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- | - | - | - | - | - |
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Sales, General and Administrative
Selling and admin costs. |
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$117.81 B | $127.14 B | $130.97 B | $139.88 B | $147.94 B | $153.38 B |
General and Administrative Corporate overhead costs. |
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$117.81 B | $127.14 B | $130.97 B | $139.88 B | - | $32.93 B |
Sales and Marketing Customer acquisition costs. |
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- | - | - | - | - | $5.40 B |
Other Expenses Other operating costs. |
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- | - | - | - | - | - |
Operating Income Profit from operations. |
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$25.94 B | $20.43 B | $27.01 B | $29.35 B | $29.83 B | $32.28 B |
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Net Interest Income
Interest income minus expense. |
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-$1.84 B | -$1.87 B | -$2.14 B | -$2.25 B | -$368.00 M | -$2.00 B |
Interest Income Income from investments. |
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$158.00 M | $254.00 M | $546.00 M | $483.00 M | - | $352.00 M |
Interest Expense Cost of borrowing. |
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$1.99 B | $2.13 B | $2.68 B | $2.73 B | $368.00 M | $2.36 B |
Non-Operating Income (ex-Int) Income outside core operations. |
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$5.25 B | $1.28 B | $2.48 B | $311.00 M | - | $609.00 M |
Total Other Income (Net) Net non-operating items. |
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-$7.25 B | -$3.41 B | -$5.16 B | -$3.04 B | -$356.00 M | -$2.96 B |
Income Before Tax Profit before taxes. |
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$18.70 B | $17.02 B | $21.85 B | $26.31 B | $29.47 B | $29.32 B |
Income Tax Expense Taxes on income. |
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$4.76 B | $5.72 B | $5.58 B | $6.15 B | $7.58 B | $6.82 B |
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Net Income
Final profit. |
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$13.67 B | $11.68 B | $15.51 B | $19.44 B | $21.89 B | $22.08 B |
Net Income From Continuing Operations Profit from core business. |
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$13.94 B | $11.29 B | $16.27 B | $20.16 B | $21.89 B | $22.50 B |
Net Income From Discontinued Operations Profit/loss from sold units. |
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- | - | - | - | - | - |
Other Adjustments to Net Income Additional accounting adjustments. |
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- | - | - | - | - | - |
Net Income Deductions Reductions from net income. |
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- | - | - | - | - | - |
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Earnings Per Share
Company profit allocated to each outstanding share. |
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EPS Earnings per share. Formula: Net Income ÷ Shares |
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$1.63 | $1.43 | $1.92 | $2.42 | $2.74 | $2.77 |
Diluted EPS EPS including dilution. Formula: Net Income ÷ Diluted Shares |
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$1.62 | $1.42 | $1.91 | $2.41 | $2.73 | $2.77 |
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Shares for EPS
Number of shares used to calculate EPS. |
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Weighted Average Shares Outst. Avg shares used for EPS. |
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8.38 B | 8.17 B | 8.08 B | 8.04 B | 7.98 B | 7.95 B |
Diluted Average Shares Outst. Shares including dilution. |
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8.42 B | 8.20 B | 8.11 B | 8.08 B | 8.02 B | 7.98 B |
| Supplemental Items | |||||||
EBIT Earnings before interest and tax. |
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$20.69 B | $19.14 B | $24.53 B | $29.04 B | $29.83 B | $31.67 B |
EBITDA Earnings before interest, tax, D&A. |
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$31.35 B | $30.09 B | $36.38 B | $42.01 B | $44.03 B | $42.84 B |
Depreciation and Amortization Non-cash expense for assets. |
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$10.66 B | $10.95 B | $11.85 B | $12.97 B | $14.20 B | $11.17 B |
| Company Report |
Walmart's Assets vs Liabilities & Equity
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Data sources and methodology
| Last updated | Jul 31, 2026 |
| Latest financial periods ended |
Quarterly: Q2 FY2027 (July 31, 2026) Annual: FY 2026 (January 31, 2026) |
| Data provided by | Financial Modeling Prep |
| Original source | Company Forms 10-Q and 10-K filed with the SEC |
| Methodology | Company-reported financial statements and calculated financial ratios |
| Limitations | Historical values may change because of company restatements, reclassifications, or provider updates |
| Links | View source filings |




