Compiled 2026-09-26Data through 2026-01-312 min read
Dated source-based research · No live market data

Research summary

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

Period comparison

FY2026 ended 2026-01-31; the prior observation ended 2025-01-31. Revenue moved from USD 674.538 billion to USD 706.413 billion. These are annual periods, not quarterly earnings or trailing-twelve-month estimates.

Earnings bridge

Net income moved from USD 19.436 billion to USD 21.893 billion. Operating income moved from USD 29.348 billion to USD 29.825 billion. Net margin moved from 2.88% to 3.10%. A margin change identifies an outcome; its causes require management discussion and footnotes.

Cash-flow cross-check

Operating cash flow was USD 36.443 billion in the earlier period and USD 41.565 billion in the later period. Selected free cash flow was USD 12.660 billion and USD 14.923 billion, respectively. Working-capital timing can cause earnings and cash to diverge.

Interpretation and limits

A rise in reported revenue does not by itself identify organic growth. A difference in EPS can reflect share-count changes as well as operating performance. No causal claim is made from these aggregate figures.

Valuation context

An earnings comparison provides a historical denominator, not a price target. A dated market price is deliberately absent from this static release.

What to monitor

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

Risks and uncertainties

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

Sources & dates