⚡What does Walmart do, in 30 seconds?
Walmart runs discount stores, Sam's Club warehouse clubs and shopping websites and apps that sell groceries and everyday goods at low prices 1 1 1. In FY2026 it took in $713.2bn ✓. Walmart's fiscal year ends on 31 January 1. Walmart U.S. made up 68% ✓ of that.
📱What does Walmart sell?
Walmart reports three businesses, plus a small line for membership and other income. Walmart U.S. is by far the biggest. Here is what each one is and who shops there.
Walmart U.S.
Walmart and Walmart Neighborhood Market stores in all 50 states, plus walmart.com and the Walmart app; there were 4,611 stores at 31 January 2026 1. It sold $483.0bn ✓ in FY2026, and groceries alone brought in $285.5bn 3. About $99.6bn of its fiscal 2026 sales came from online shopping 3. It also sells ads, services for marketplace sellers, fuel and money services such as check cashing 1.
👥 Households across income levels. In the quarter to July 2026, Walmart U.S. said its market share gains came across income tiers, led by upper-income households 4.
Walmart International
5,743 stores in 18 countries outside the US at 31 January 2026 1. It sold $130.4bn ✓ in FY2026. Mexico and Central America brought in $52.5bn, China $24.6bn and Canada $23.7bn 3. About $35.8bn of its fiscal 2026 sales came from online shopping 3. In India, Walmart owned about 73% of the payments company PhonePe at 31 January 2026 3.
👥 Shoppers in places like Mexico, Central America, China, Canada, India, Chile and Africa 1.
Sam's Club U.S.
A members-only warehouse club with 601 clubs in 44 states and Puerto Rico at 31 January 2026 1. It sold $93.0bn ✓ in FY2026, and $64.7bn of that was groceries 3. It sells its own Member's Mark brand 13.
👥 Members who pay a yearly fee. A Club membership costs $50 a year and Plus costs $110 1.
Membership and other income
Membership fees came to $4.4bn in fiscal 2026 3. Besides membership fees from Sam's Club and Walmart+, this line holds rent from tenants, recycling income and unused gift cards 3. The whole line was $6.8bn ✓.
👥 Sam's Club members, who pay a yearly fee 1, and Walmart+ members, who pay for free shipping on eligible items, delivery from stores and fuel discounts 1.
How the mix has shifted
Where the customers are
Most of Walmart's money comes from the United States, at 81% ✓ of revenue, or $581.2bn ✓, in FY2026. The other 19% ✓ comes from 18 other countries 1. Mexico and Central America is the biggest of these, followed by China and Canada 3. Results from most countries abroad are added with a one-month delay 1.
💸How does Walmart make money?
Follow the money from left to rightfrom top to bottom: what customers pay for, what it costs to make, and what is left as profit.
Walmart took in $713.2bn ✓ in FY2026. Buying the goods it sold cost $535.4bn ✓. What is left is gross profit, the money kept after paying for what was sold. That came to $177.8bn ✓.
Next come the costs of running stores, websites and offices, such as wages, rent and marketing. These took $147.9bn ✓. What remains is operating profit, the profit from the main business, which was $29.8bn ✓. After tax of $7.2bn ✓ and other small items, net income was $21.9bn ✓. Put simply, out of every hundred dollars of sales, Walmart spent about $75 ✓ on goods and $21 ✓ on running costs. It kept about $3 ✓ as profit.
Out of every $100 customers paid in FY2026…
⏱️ Walmart by the clock
Spread the FY2026 totals evenly over its 365 days and you get this. Source: Walmart Inc. 10-K [5].
📈How is Walmart doing?
Walmart grows slowly but almost never stops. From FY2016 to FY2026, sales grew 4.0% ✓ a year on average. Sales rose in 10 ✓ of those 10 ✓ years. Walmart says it passes the savings from its big, steady orders on to shoppers as low prices 17. Gross margin was 24.9% ✓ in FY2026, close to 25.1% ✓ in FY2016. Operating margin was 4.2% ✓, down from 5.0% ✓.
The latest four quarters, to 31 July 2026, look a bit stronger. Sales reached $735.8bn ✓, up 6.2% ✓ on the four quarters before. Operating margin was 4.4% ✓. In the quarter to July 2026, Walmart got about $2.9bn of tariff refunds, booked as lower cost of sales 27. It said a significant portion went into lower prices and other cost relief 27. In that quarter, online sales grew 23% and the ad business grew 38% 18. In August 2026, Walmart raised its outlook for FY2027 net sales growth to 4.0% to 5.0% in constant currency 18.
📝 The report card
Walmart earns top marks for steady growth, middle marks for growth and its balance sheet, and low marks for profit and cash on a scale built for all kinds of companies. Every company is graded on the same fixed scale, so an A means the same thing on every page. The strip shows where Walmart (orange) and its 4 peers land; further right is better.
Growth
Walmart's sales grew 5.3% ✓ a year over its last three fiscal years, which earns a C ✓ on the fixed scale. Costco grew faster, at 7.8% ✓ over its own last three fiscal years, also a C ✓. Target's figure was -1.3% ✓, an F ✓.
Why this measure? (higher is better)
Growing sales is the engine of a business. Mature giants rarely grow fast, so 5% a year already earns a C.
Profitability
Over the last three years combined, Walmart kept 4.2% ✓ of sales as operating profit, which earns an F ✓ on a scale built for all kinds of companies. Big stores live on thin margins: Costco's figure is 3.8% ✓, also an F ✓.
Why this measure? (higher is better)
Operating margin is the share of each sales dollar left after running the business. Software and platforms often clear 30%; hardware makers usually sit below 10%.
Cash generation
Over the last three years combined, Walmart turned 2.1% ✓ of sales into free cash flow, an F ✓. In FY2026 it spent $26.6bn ✓ on buildings and equipment, out of $41.6bn ✓ of cash from operations. The peer median is also low, at 3.2% ✓.
Why this measure? (higher is better)
Free cash flow is the cash left after paying for factories, data centres and equipment. It funds dividends, buybacks and new bets.
Balance sheet
Walmart owes more than it holds. At the end of FY2026, its cash and investments minus borrowings (leases and stakes in other companies not counted) came to -4.8% ✓ of a year's sales, a C ✓. Target and Kroger owe a bit more for their size, at -9.3% ✓ and -8.5% ✓. Walmart's operating profit covers its interest bill 12.9x ✓.
Why this measure? (higher is better)
More cash than debt gives a company room to ride out bad years. Some debt is normal; a lot of it makes a company fragile.
Steadiness
Walmart's yearly growth barely swings. How much it swings, measured from year to year, is just 2.1% ✓, which earns an A ✓. That makes it the steadiest of the five companies here. Amazon's figure is 10.0% ✓, a C ✓.
Why this measure? (lower is better)
Steady growers are easier to plan around. Big swings mean sales depend on product cycles, the economy or one-off events.
🧑🏫 How the grades work
- Same scale for everyone. Each measure has fixed cut-offs (shown under each strip). Clear the A line and you get an A, whatever your peers do.
- Three years together. Profitability and cash generation add up the last three fiscal years before dividing, so one unusual year counts for less than it would on its own (a year much bigger than the others still weighs most).
- Peers for context. The rank shows how Walmart compares with the group. Companies within 0.1 percentage point share a rank.
- Same source. Every company's figures come from its own latest annual report (10-K), so fiscal years end in different months.
- Judgement, openly stated. The cut-offs are QuantVantage.ai's view of what good looks like for a large, established company. They are not a forecast or a recommendation.
11 years at a glance
Where the cash goes
Over the 11 fiscal years from FY2016 to FY2026, Walmart paid out $141.0bn ✓ in buybacks and dividends, from $178.9bn ✓ of free cash flow. In FY2026 it paid $7.5bn ✓ in dividends and spent $8.1bn ✓ on buybacks. Together that was 105% ✓ of the year's free cash flow. In February 2026, Walmart announced a new $30 billion buyback plan 20.
🧮Ratios 101: what are Walmart's key financial ratios?
Ratios shrink Walmart's giant numbers into easy comparisons, and they show a business that earns little per sale but sells a huge amount. A ratio divides one number by another so companies of any size can be compared. Each card shows the formula with Walmart's real FY2026 numbers, the peer median and the trend.
💰 Profitability: how much of each sale is kept?
Gross margin
What is left from each sale after paying to make the product or deliver the service.
👉 At 24.9% ✓, close to 25.1% ✓ in FY2016, Walmart sits between Costco's 12.8% ✓ and Amazon's 50.3% ✓. The peer median is 27.9% ✓.
📏 Rule of thumb: Above 40% usually signals pricing power or a big software or services mix.
Operating margin
What is left after also paying for research, marketing and running the company.
👉 Walmart's 4.2% ✓ is just under the 4.4% ✓ peer median and below its own 5.0% ✓ of FY2016.
📏 Rule of thumb: Above 20% is strong for a large company.
Net margin
The bottom line: profit after interest and taxes, per dollar of sales.
👉 Walmart keeps 3.1% ✓ of sales as final profit, about the same as 3.0% ✓ in FY2016 and a little below the 3.3% ✓ peer median.
📏 Rule of thumb: Above 15% is strong; one-off tax items can move it in a single year.
Return on equity (ROE)
Profit earned for each dollar that shareholders have left in the company.
👉 ROE of 22.0% ✓ is up from 18.2% ✓ in FY2016 and just above the 20.9% ✓ peer median.
📏 Rule of thumb: Around 15% or more is good, but buybacks shrink equity and can make ROE look huge.
⚙️ Efficiency: how hard do the assets work?
Return on assets (ROA)
Profit earned from everything the company owns, however it was paid for.
👉 ROA of 7.7% ✓ is close to 7.4% ✓ in FY2016 and to the 7.9% ✓ peer median.
📏 Rule of thumb: Above 10% is strong; banks and factories usually earn less.
Asset turnover
Dollars of sales squeezed out of each dollar of assets.
👉 Walmart's yearly sales are 2.5x ✓ the value of everything it owns, above the 2.4x ✓ peer median. Costco turns its assets even faster, at 3.4x ✓.
📏 Rule of thumb: Retailers often top 2x; asset-heavy businesses can sit below 0.5x.
Inventory days
How many days of products sit in warehouses before they are sold.
👉 Walmart holds about 40 ✓ days of stock, down from 45 ✓ in FY2016 and close to the peer median of 39 ✓.
📏 Rule of thumb: Fewer days means less cash tied up and less risk of products going stale.
🛟 Safety: could it survive a bad year?
Current ratio
Can short-term assets (cash, money owed by customers, stock) pay the bills due within a year?
👉 Walmart's 0.8x ✓ is below one and below its 0.9x ✓ of FY2016. Kroger sits at the same 0.8x ✓.
📏 Rule of thumb: Above 1.0x is the classic comfort line, but cash-rich giants can run below it on purpose.
Debt to equity
How much the company has borrowed for each dollar shareholders have in it.
👉 Walmart's 0.4x ✓ is down from 0.5x ✓ in FY2016 and just below the 0.5x ✓ peer median. Kroger borrows far more, at 2.7x ✓.
📏 Rule of thumb: Below 1.0x is conservative. Like ROE, it can rise when buybacks shrink equity, even if debt has not changed.
Interest cover
How many times over operating profit could pay the year's interest bill.
👉 Operating profit covers interest 12.9x ✓, up from 11.9x ✓ in FY2016 but well below the 35.2x ✓ peer median.
📏 Rule of thumb: Above 5x is comfortable; below 2x is a warning sign.
💵 Cash and owners: where does the money end up?
Cash conversion
Does reported profit turn into real cash? Free cash flow is operating cash minus capital spending.
👉 Walmart turned profit into free cash at 0.7x ✓, below 1.1x ✓ in FY2016 and the 0.9x ✓ peer median. Spending on buildings and equipment was $26.6bn ✓ in FY2026, against $11.5bn ✓ in FY2016.
📏 Rule of thumb: Near or above 1.0x means profits are backed by cash.
Stock pay
Pay given to staff in shares instead of cash. It is a real cost to owners because it adds shares.
👉 Stock pay is only 0.5% ✓ of sales, up from 0.1% ✓ in FY2016 and a bit above the 0.3% ✓ peer median.
📏 Rule of thumb: Under 5% of sales is modest for a tech company.
Shareholder payout
How much of the year's profit was handed back to owners.
👉 Walmart returned 71.2% ✓ of FY2026 profit as dividends and buybacks, almost the same as 70.8% ✓ in FY2016 and above the 51.1% ✓ peer median.
📏 Rule of thumb: Above 100% means it returned more than it earned, using cash savings or debt.
Ratios use fiscal-year-end balance sheet values. Inputs are shown rounded, so dividing them can differ from the result in the last digit. A peer median leaves out peers that do not report the inputs, or where the ratio means nothing (for example, negative shareholders' equity). Rules of thumb are general guides from QuantVantage.ai, not hard limits. No share-price ratios (like price-to-earnings) are shown on this page.
🥊Who are Walmart's competitors?
Walmart competes with both store chains and online sellers. Costco's warehouses compete with Sam's Club 101, and Amazon meets Walmart online, in ads and in paid memberships 11121314. Target and Kroger sell food and other everyday goods in US stores, as Walmart does 151 1631.
| Company | Where they compete | Revenue | Growth/yr (3y) | Op. margin | FCF margin |
|---|---|---|---|---|---|
| Walmart (WMT, FY2026) | Groceries, everyday goods, warehouse clubs, online shopping and ads | $713.2bn | 5.3% | 4.2% | 2.1% |
| Costco (COST, FY2026) | Members-only warehouse clubs selling groceries and household goods; Costco names Sam's Club among its rivals 101 | $303.2bn | 7.8% | 3.9% | 3.1% |
| Amazon (AMZN, FY2025) | Online groceries and everyday goods with fast delivery, marketplaces, ads and paid memberships (Prime and Walmart+) 11121314 | $716.9bn | 11.7% | 11.2% | 1.1% |
| Target (TGT, FY2026) | US discount stores with pickup and same-day delivery; 1,995 Target stores against 4,611 Walmart U.S. stores at 31 January 2026 151 | $104.8bn | -1.3% | 4.9% | 2.7% |
| Kroger (KR, FY2026) | Groceries, pharmacy and fuel; Kroger ran 2,697 supermarkets at 31 January 2026 1631 | $147.6bn | -0.1% | 1.3% | 2.3% |
Walmart's annual report lists new AI shopping tools and platforms among its rivals 22. Costco also names Walmart, Target, Kroger and Amazon among its significant US general merchandise rivals 36. Walmart U.S. sold $285.5bn of groceries in FY2026 3, more than Kroger's total sales of $147.6bn ✓.
🧭Walmart SWOT: strengths, weaknesses, opportunities and threats
💪 Strengths
- Walmart says about 280 million customers a week visit its more than 10,900 stores, websites and apps 1.
- Grocery made up $285.5bn of Walmart U.S.'s $483.0bn of net sales in fiscal 2026 3.
- Walmart's global ad business grew 46% to nearly $6.4bn in fiscal 2026, including VIZIO 20.
- Sales rose in each of the last 10 ✓ years, and yearly growth barely swings, at 2.1% ✓, which earns an A ✓ for steadiness.
🩹 Weaknesses
- Walmart kept only about $3 ✓ of every $100 of sales as profit in FY2026, so small cost changes can move profit a lot.
- Over the last three years combined, free cash flow was just 2.1% ✓ of sales, and spending on buildings and equipment reached $26.6bn ✓ in FY2026.
- Walmart took a $0.7bn non-cash charge in fiscal 2026 after PhonePe changed its share-based pay plans 3.
- Running costs rose slightly as a share of sales in fiscal 2026, mainly because US injury and damage claims that Walmart pays itself cost about $0.9bn more 23.
🚀 Opportunities
- In June 2026, Walmart agreed to buy Vibe.co, a self-serve TV ad platform with more than 10,000 advertisers 24.
- In January 2026, Walmart and Google announced Walmart and Sam's Club shopping inside Google's Gemini, launching first in the US 25.
- From 20 October 2026, Walmart sells Walmart+ and Sam's Club Plus together for $120 a year 26.
- Sales in China grew 20.7% in constant currency in the quarter to July 2026 4.
⚠️ Threats
- Less than one third of what Walmart sells in the US is imported, mostly from China, Vietnam, Mexico, India and Canada 27.
- New drug price rules from January 2026 cut pharmacy prices. In the quarter to July 2026, that took a little over one percentage point off Walmart U.S. comparable sales growth 1827.
- Walmart's annual report says faster AI development by rivals may increase competitive pressure 22.
- Costco had 84.1 million paid members at the end of its 2026 fiscal year 111328.
🏰Does Walmart have a moat?
Why 3?
Walmart's promise is everyday low prices, so shoppers can trust prices will not jump around 1. In the quarter to July 2026, Walmart U.S. said its share gains were led by upper-income households 4. But its annual report says some rivals have longer histories in some lines of business, more customers and greater brand recognition 17.
Why 2?
Walmart+ gives members free shipping, delivery from stores and fuel discounts 1. Membership fees grew to $4.4bn in fiscal 2026 3. In the quarter to July 2026, Walmart+ added more members than in any earlier second quarter of its fiscal year 18. Still, a Sam's Club membership costs $50 or $110 a year 1, a small amount to walk away from.
Why 3?
Walmart Marketplace lets other sellers list goods with no setup or monthly fees, and takes 6% to 15% of each sale 19. Walmart says its memberships, ads and marketplace support each other 1. Walmart says about 280 million customers shop with it each week 1, and its ad business, including VIZIO, reached nearly $6.4bn in fiscal 2026 20. Amazon runs a similar marketplace, ad business and paid membership 11121314, so this edge is shared.
Why 4?
Walmart says suppliers give it prices that reflect the size and certainty of its orders, and it passes them on as low prices 17. It also commits to keeping its own costs low 1. In the US it uses 192 distribution facilities and its own trucks 17. In January 2026 it said its delivery network reached 95% of US households in under three hours 21. The edge shows in prices, not margins: its operating margin of 4.2% ✓ sits near the 4.4% ✓ peer median.
Why 1?
Walmart protects its ideas with trademarks, copyrights, patents and trade secrets 17. It owns store brands such as Great Value, Equate and Member's Mark 1. None of these keep rivals out. Rules are more of a limit than a shield: VIZIO, bought in December 2024, must follow an order on TV data use until 2037 223.
A moat is what keeps rivals from taking a company's customers and profits. Scores are QuantVantage.ai's judgement (5 = strongest), set with the same rubric on every explainer (orange is Walmart; grey dots are peers).
🔭What should you watch next?
Asda equal-pay case hearing
This UK case is against Asda, a former Walmart business, and Walmart has agreed to cover costs up to a set amount 39.
Last FY2027 dividend payment
Walmart's last fiscal 2027 dividend payment of $0.2475 a share has a record date of 11 December 2026 3.
Vibe.co deal closing
Walmart expects the deal to close by the end of fiscal 2027, subject to a US antitrust waiting period ending 24.
Capital spending
In August 2026, Walmart raised its fiscal 2027 capital spending outlook to about 4.0% of net sales, from about 3.5% 18.
Florida opioid case appeal
In the Florida Health Sciences Center case, a jury trial ended in a mistrial, the court then ruled for Walmart and the other defendants, and the hospital group that sued has appealed 39. Separately, Walmart settled the US Justice Department's opioid civil case over its pharmacies without admitting it did wrong, its report for the quarter to July 2026 says 39. Walmart says the amount is too small to matter to its results 39.
📚Learn the words
❓Frequently asked questions about Walmart
How does Walmart make money?
Walmart makes most of its money selling groceries and everyday goods in its stores and online. In FY2026, Walmart U.S. sold $483.0bn ✓, International $130.4bn ✓ and Sam's Club $93.0bn ✓. Membership fees added $4.4bn 3.
How much profit does Walmart make?
Walmart made $21.9bn ✓ of net income in FY2026. That sounds huge, but it is only about $3 ✓ for every $100 of sales.
Who owns Walmart?
Walmart is a public company, but entities linked to Sam Walton's family hold about 44% of its shares 29. Greg Penner is the chairman of the board 29.
Who runs Walmart?
John Furner has been CEO since 1 February 2026, after Doug McMillon retired 3031. He started at Walmart as an hourly worker in 1993 and ran Walmart U.S. from 2019 30.
Is Walmart+ the same as Sam's Club?
No, they are two different memberships. Walmart+ gives free shipping, delivery from stores and fuel discounts 1. Sam's Club is a members-only warehouse club with its own fee 1 1. From 20 October 2026, both can be bought together for $120 a year 26.
How does Walmart make money from ads?
Brands and marketplace sellers pay Walmart to advertise 1. Walmart's global ad business grew 46% to nearly $6.4bn in fiscal 2026, counting VIZIO 20.
Is Walmart's revenue still growing?
Yes, Walmart's revenue is still growing. Sales rose 4.7% ✓ in FY2026 and 6.2% ✓ in the four quarters to July 2026. Over ten years, growth averaged 4.0% ✓ a year.
Does Walmart pay a dividend?
Yes, Walmart pays a dividend. For fiscal 2027 it raised the yearly dividend to $0.99 a share from $0.94, paid in four parts 3. In FY2026 it paid $7.5bn ✓ in dividends and spent $8.1bn ✓ on buybacks.
🎮Play: higher or lower, then test yourself
Figures come from each company's latest annual report (10-K); fiscal years end in different months. Sources: [5] [6] [8] [7] [9].
🧠 Test yourself
5 quick questions. Score: 0 / 5
1. In which year did the first Walmart store open?
2. About how much profit did Walmart keep from every $100 of sales in FY2026?
3. Which part of Walmart brings in the most money?
4. What did Walmart's founder Sam Walton do on Wall Street in 1984 to keep a promise to workers?
5. Kroger's CEO used to run which business?
🔎Sources and method
Every figure comes from a source listed here or is calculated from those sources (marked ✓). Company financials are taken from SEC filings (10-K and 10-Q) as tagged in XBRL. Peer grades rank the same measures across the company and its peers. This page contains no share-price data and no valuation.
- Walmart Form 10-K for fiscal year 2026 (year ended January 31, 2026) — Item 1 general, development and segments: headquarters, history, fiscal year, revenue, store counts, segment offerings, Sam's Club fees (accessed 2026-10-29)
- Walmart (WMT) Form 10-K for fiscal year 2026, filed 2026-03-13 — revenue and cost of sales by product, segment and geography (accessed 2026-10-28)
- Walmart Form 10-K for fiscal year 2026 (year ended January 31, 2026) — Notes: membership and other income, disaggregated net sales by category and market, eCommerce sales, PhonePe and Flipkart ownership, VIZIO goodwill, fiscal 2027 dividend (accessed 2026-10-29)
- Walmart Form 8-K Exhibit 99.2: second quarter fiscal 2027 earnings presentation, August 20, 2026 — Q2 fiscal 2027 segment detail: shopper income tiers, China (accessed 2026-10-29)
- SEC EDGAR companyfacts: Walmart (WMT) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: COSTCO WHOLESALE CORP /NEW (COST) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: TARGET CORP (TGT) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: AMAZON COM INC (AMZN) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: KROGER CO (KR) — annual 10-K facts (accessed 2026-10-28)
- Costco Wholesale Form 10-K for fiscal year 2026 — Item 1 competition: named competitors including Sam's Club (accessed 2026-10-29)
- Amazon Form 10-K for fiscal year 2025 — Cover and Item 1 overview: incorporation, fiscal year end, three segments, mission and principles, customer sets, Prime, seasonality (accessed 2026-10-29)
- Amazon Form 10-K for fiscal year 2025 — Notes: net sales by groups of similar products and footnote definitions; revenue recognition for seller services and subscriptions (accessed 2026-10-29)
- Amazon 2025 letter to shareholders (8-K exhibit 99.1), April 2026 — Stores and devices: Whole Foods Market stores, physical share of retail, Alexa endpoints, Amazon Leo customers; 1997 letter reprint (accessed 2026-10-29)
- Walmart Form 10-K for fiscal year 2026 — Item 1 Walmart+, marketplace, advertising and fulfillment services; competition (accessed 2026-10-29)
- Target Form 10-K for fiscal 2025 (year ended January 31, 2026) — Store count, merchandise categories, same-day fulfillment (accessed 2026-10-29)
- Kroger Form 10-K for fiscal 2025 (year ended January 31, 2026) — Supermarkets, pharmacies and fuel centers (accessed 2026-10-29)
- Walmart Form 10-K for fiscal year 2026 (year ended January 31, 2026) — Item 1 competition, suppliers and distribution, intellectual property, human capital (accessed 2026-10-29)
- Walmart Form 8-K Exhibit 99.1: second quarter fiscal 2027 earnings release, August 20, 2026 — Q2 fiscal 2027 highlights, segment notes, Q3 and fiscal 2027 guidance (accessed 2026-10-29)
- Walmart Marketplace seller site — Seller fees, Walmart Fulfillment Services, in-store returns (accessed 2026-10-29)
- Walmart Form 8-K Exhibit 99.1: fourth quarter fiscal 2026 earnings release, February 19, 2026 — Q4 and full-year fiscal 2026 highlights, advertising, membership fees, repurchase authorization (accessed 2026-10-29)
- Walmart Form 8-K Exhibit 99.2: Walmart Announces Leadership Changes, January 2026 — Segment leadership changes; delivery reach (accessed 2026-10-29)
- Walmart Form 10-K for fiscal year 2026 (year ended January 31, 2026) — Item 1A risk factors: competition, agentic shopping tools, VIZIO consent order (accessed 2026-10-29)
- Walmart Form 10-K for fiscal year 2026 (year ended January 31, 2026) — Item 7: comparable sales, operating expenses, imported share of U.S. sales, fiscal 2027 capital spending plan (accessed 2026-10-29)
- Walmart news release: Walmart to Acquire Vibe.co, June 23, 2026 — Vibe.co agreement and expected closing (accessed 2026-10-29)
- Walmart news release: Walmart and Google Turn AI Discovery Into Effortless Shopping Experiences, January 11, 2026 — Walmart shopping inside Gemini (accessed 2026-10-29)
- Walmart news release: Walmart+ and Sam's Club Plus together for $120, October 20, 2026 — Combined membership price and upgrade costs (accessed 2026-10-29)
- Walmart Form 10-Q for the quarter ended July 31, 2026 — Tariff refunds, maximum fair price drug rules, imported share of U.S. sales, comparable sales (accessed 2026-10-29)
- Costco Form 10-K for fiscal year 2026 — Item 1 competition and membership counts (accessed 2026-10-29)
- Walmart 2026 proxy statement (DEF 14A), filed April 23, 2026 — Chairman's letter, board independence, beneficial owners (accessed 2026-10-29)
- Walmart Form 8-K Exhibit 99.1: Walmart Announces John Furner as President and CEO, November 14, 2025 — CEO succession and Furner's career (accessed 2026-10-29)
- Walmart Form 10-K for fiscal year 2026 (year ended January 31, 2026) — Information about executive officers (accessed 2026-10-29)
- SEC EDGAR companyfacts: Walmart (WMT) — quarterly 10-Q/10-K facts (accessed 2026-10-28)
- Walmart corporate site: Our History — Dated company milestones (accessed 2026-10-29)
- Kroger Form 8-K (Item 5.02): CEO appointment, filed February 9, 2026 — New CEO's earlier roles at Walmart (accessed 2026-10-29)
- SEC EDGAR companyfacts: Walmart (WMT) — balance sheet at 2026-07-31 (accessed 2026-10-28)
- Costco Wholesale Form 10-K for fiscal year 2026 — Item 1 competition and intellectual property (trademarks, Kirkland Signature) (accessed 2026-10-29)
- Walmart corporate events: fiscal 2027 third quarter earnings release — Q3 fiscal 2027 earnings release date (accessed 2026-10-29)
- Walmart news: Making It Possible for Agents to Shop on Behalf of Customers, October 21, 2026 — Agent Profiles for AI shopping agents (accessed 2026-10-29)
- Walmart Form 10-Q for the quarter ended July 31, 2026 — Note 5 contingencies: opioid matters, Asda equal value claims (accessed 2026-10-29)