Walmart annual operating margin
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2026
Walmart Operating Margin Growth & History (WMT)
Walmart's operating margin was 4.22% for fiscal 2026.
View full Walmart company overviewWalmart annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2026 | 2026-01-31 | 4.22% | −0.13 pp |
| 2025 | 2025-01-31 | 4.35% | +0.15 pp |
| 2024 | 2024-01-31 | 4.20% | +0.83 pp |
| 2023 | 2023-01-31 | 3.37% | −1.20 pp |
| 2022 | 2022-01-31 | 4.57% | +0.51 pp |
| 2021 | 2021-01-31 | 4.06% | +0.11 pp |
| 2020 | 2020-01-31 | 3.96% | −0.35 pp |
| 2019 | 2019-01-31 | 4.30% | +0.18 pp |
| 2018 | 2018-01-31 | 4.12% | −0.61 pp |
| 2017 | 2017-01-31 | 4.73% | −0.27 pp |
| 2016 | 2016-01-31 | 5.00% | −0.59 pp |
| 2015 | 2015-01-31 | 5.59% | −0.05 pp |
| 2014 | 2014-01-31 | 5.64% | −0.27 pp |
| 2013 | 2013-01-31 | 5.92% | −0.14 pp |
| 2010 | 2011-01-31 | 6.05% | +0.17 pp |
| 2009 | 2010-01-31 | 5.88% | +0.25 pp |
| 2008 | 2009-01-31 | 5.63% | −0.19 pp |
| 2007 | 2008-01-31 | 5.82% | — |
Walmart quarterly operating margin
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Q1.27
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q1 2027 | 2026-04-30 | 4.27% | −0.09 pp |
| Q4 2026 | 2026-01-31 | 4.61% | +0.21 pp |
| Q3 2026 | 2025-10-31 | 3.77% | −0.23 pp |
| Q2 2026 | 2025-07-31 | 4.15% | −0.59 pp |
| Q1 2026 | 2025-04-30 | 4.35% | +0.07 pp |
| Q4 2025 | 2025-01-31 | 4.39% | +0.18 pp |
| Q3 2025 | 2024-10-31 | 3.99% | +0.10 pp |
| Q2 2025 | 2024-07-31 | 4.73% | +0.17 pp |
| Q1 2025 | 2024-04-30 | 4.28% | +0.14 pp |
| Q4 2024 | 2024-01-31 | 4.22% | +0.80 pp |
| Q3 2024 | 2023-10-31 | 3.89% | +2.11 pp |
| Q2 2024 | 2023-07-31 | 4.56% | +0.04 pp |
| Q1 2024 | 2023-04-30 | 4.13% | +0.34 pp |
| Q4 2023 | 2023-01-31 | 3.42% | −0.47 pp |
| Q3 2023 | 2022-10-31 | 1.78% | −2.38 pp |
| Q2 2023 | 2022-07-31 | 4.53% | −0.73 pp |
| Q1 2023 | 2022-04-30 | 3.79% | −1.25 pp |
| Q4 2022 | 2022-01-31 | 3.89% | +0.25 pp |
| Q3 2022 | 2021-10-31 | 4.16% | −0.16 pp |
| Q2 2022 | 2021-07-31 | 5.26% | +0.83 pp |
| Q1 2022 | 2021-04-30 | 5.04% | +1.13 pp |
| Q4 2021 | 2021-01-31 | 3.63% | −0.15 pp |
| Q3 2021 | 2020-10-31 | 4.32% | +0.60 pp |
| Q2 2021 | 2020-07-31 | 4.43% | +0.11 pp |
| Q1 2021 | 2020-04-30 | 3.91% | −0.11 pp |
| Q4 2020 | 2020-01-31 | 3.78% | −0.62 pp |
| Q3 2020 | 2019-10-31 | 3.72% | −0.31 pp |
| Q2 2020 | 2019-07-31 | 4.31% | −0.21 pp |
| Q1 2020 | 2019-04-30 | 4.02% | −0.22 pp |
| Q4 2019 | 2019-01-31 | 4.40% | +1.04 pp |
| Q3 2019 | 2018-10-31 | 4.02% | +0.12 pp |
| Q2 2019 | 2018-07-31 | 4.53% | −0.31 pp |
| Q1 2019 | 2018-04-30 | 4.24% | −0.22 pp |
| Q4 2018 | 2018-01-31 | 3.37% | −1.54 pp |
| Q3 2018 | 2017-10-31 | 3.90% | −0.43 pp |
| Q2 2018 | 2017-07-31 | 4.84% | −0.26 pp |
| Q1 2018 | 2017-04-30 | 4.46% | −0.10 pp |
| Q4 2017 | 2017-01-31 | 4.91% | −0.21 pp |
| Q3 2017 | 2016-10-31 | 4.33% | −0.54 pp |
| Q2 2017 | 2016-07-31 | 5.10% | +0.05 pp |
| Q1 2017 | 2016-04-30 | 4.55% | −0.40 pp |
| Q4 2016 | 2016-01-31 | 5.12% | −0.92 pp |
| Q3 2016 | 2015-10-31 | 4.87% | −0.40 pp |
| Q2 2016 | 2015-07-31 | 5.05% | −0.56 pp |
| Q1 2016 | 2015-04-30 | 4.95% | −0.44 pp |
| Q4 2015 | 2015-01-31 | 6.04% | +0.38 pp |
| Q3 2015 | 2014-10-31 | 5.26% | −0.19 pp |
| Q2 2015 | 2014-07-31 | 5.61% | −0.19 pp |
| Q1 2015 | 2014-04-30 | 5.39% | −0.26 pp |
| Q4 2014 | 2014-01-31 | 5.66% | −1.04 pp |
| Q3 2014 | 2013-10-31 | 5.45% | +0.10 pp |
| Q2 2014 | 2013-07-31 | 5.80% | −0.06 pp |
| Q1 2014 | 2013-04-30 | 5.64% | −0.01 pp |
| Q4 2013 | 2013-01-31 | 6.70% | +1.37 pp |
| Q3 2011 · Oct 31 | 2012-10-31 | 5.35% | −0.48 pp |
| Q2 2011 · Jul 31 | 2012-07-31 | 5.86% | +0.20 pp |
| Q1 2011 · Apr 30 | 2012-04-30 | 5.65% | −1.23 pp |
| Q3 2011 · Oct 31 | 2011-10-31 | 5.33% | −0.17 pp |
| Q2 2011 · Jul 31 | 2011-07-31 | 5.84% | −0.13 pp |
| Q1 2011 · Apr 30 | 2011-04-30 | 5.66% | −0.09 pp |
| Q4 2010 | 2011-01-31 | 6.88% | +0.35 pp |
| Q3 2010 | 2010-10-31 | 5.50% | +0.03 pp |
| Q2 2010 | 2010-07-31 | 5.97% | +0.09 pp |
| Q1 2010 | 2010-04-30 | 5.75% | +0.21 pp |
| Q4 2009 | 2010-01-31 | 6.53% | +1.15 pp |
| Q3 2009 | 2009-10-31 | 5.48% | −0.20 pp |
| Q2 2009 | 2009-07-31 | 5.88% | — |
| Q1 2009 | 2009-04-30 | 5.54% | — |
| Q3 2008 | 2008-10-31 | 5.38% | — |
| Q2 2008 | 2008-07-31 | 5.68% | — |
Walmart operating margin trends
Over the last five reported fiscal years, Walmart's operating margin increased from 4.06% to 4.22%, a change of +0.16 percentage points. The latest reported quarter, Q1 2027, shows 4.27%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Walmart filings at SEC.gov ↗