Walmart Inc. (WMT) closed fiscal year 2026 with a gross margin of 24.9 % and a net margin of 3.1 %.
Walmart Inc. (WMT) closed fiscal year 2026 with a gross margin of 24.9 % and a net margin of 3.1 %. The same year shows an EBITDA margin of 6.2 % and an EBIT margin of 4.2 %. The free cash flow margin was 2.1 %. Against the previous year the gross margin moved +0.1 pp and the net margin +0.2 pp. Across the period the gross margin ranges between 24.1 % in 2023 and 25.6 % in 2017. The series covers 19 fiscal years, from 2008 to 2026. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: January
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 24.64 % | 24.81 % | 25.48 % | 25.34 % | 24.98 % | 24.83 % | 24.82 % | 24.83 % | 25.13 % | 25.65 % | 25.37 % | 25.10 % | 24.69 % | 24.83 % | 25.10 % | 24.14 % | 24.38 % | 24.85 % | 24.93 % |
| EBITDA margin (%) | 7.50 % | 7.30 % | 7.64 % | 7.87 % | 7.75 % | 7.72 % | 7.50 % | 7.48 % | 6.96 % | 6.76 % | 6.19 % | 6.34 % | 6.02 % | 6.03 % | 6.39 % | 5.13 % | 6.00 % | 6.21 % | 6.17 % |
| EBIT margin (%) | 5.82 % | 5.63 % | 5.88 % | 6.05 % | 5.93 % | 5.92 % | 5.64 % | 5.59 % | 5.00 % | 4.69 % | 4.08 % | 4.27 % | 3.93 % | 4.03 % | 4.53 % | 3.34 % | 4.17 % | 4.31 % | 4.18 % |
| Net margin (%) | 3.38 % | 3.31 % | 3.52 % | 3.89 % | 3.52 % | 3.63 % | 3.36 % | 3.37 % | 3.05 % | 2.81 % | 1.97 % | 1.30 % | 2.84 % | 2.42 % | 2.39 % | 1.91 % | 2.39 % | 2.85 % | 3.07 % |
| FCF margin (%) | 1.51 % | 2.88 % | 3.45 % | 2.59 % | 2.41 % | 2.71 % | 2.13 % | 3.37 % | 3.33 % | 4.33 % | 3.65 % | 3.38 % | 2.78 % | 4.62 % | 1.93 % | 1.96 % | 2.33 % | 1.86 % | 2.09 % |
