Walmart Past Earnings Performance
Past criteria checks 3/6
Walmart has been growing earnings at an average annual rate of 17.5%, while the Consumer Retailing industry saw earnings growing at 14.7% annually. Revenues have been growing at an average rate of 5.4% per year. Walmart's return on equity is 21.5%, and it has net margins of 3%.
Key information
17.46%
Earnings growth rate
18.45%
EPS growth rate
| Consumer Retailing Industry Growth | 10.91% |
| Revenue growth rate | 5.36% |
| Return on equity | 21.47% |
| Net Margin | 3.00% |
| Next Earnings Update | 19 Nov 2026 |
Recent past performance updates
Recent updates
Seeking Alpha • Aug 24
Walmart: Even After The Post-Earnings Sell-Off, It's Still Too Expensive (Rating Downgrade)
Summary Walmart remains a premier, recession-resistant business with strong market share and robust financials, but valuation is stretched at 36x forward earnings. Despite a solid quarter with double-beat results, WMT sold off due to soft comparable sales, cautious guidance, and concerns over U.S. consumer weakness. Full-year guidance was raised modestly, with net revenue expected to grow 4%-5% and EPS up 7.4% at the midpoint, but growth is slowing. I downgrade WMT to Hold, recommending investors wait for a 10%-20% pullback before considering new positions due to an unattractive risk/reward setup. Read the full article on Seeking AlphaAnalysis Article • Aug 23
Walmart Inc. Just Beat EPS By 7.7%: Here's What Analysts Think Will Happen Next
It's been a sad week for Walmart Inc. ( NASDAQ:WMT ), who've watched their investment drop 10% to US$104 in the week...
Narrative Update • Aug 21
WMT: Alternate Profit Pools Will Support Premium P/E Despite Weaker U.S. Comps
Walmart's analyst price target has been revised lower from $138.37 to $128.43 as analysts factor in softer U.S. comps, increased reinvestment of tariff refunds into pricing, and a more conservative future P/E expectation despite relatively steady profit margin assumptions. Analyst Commentary Recent research on Walmart reflects a reset in expectations, but not a collapse in confidence.
New Narrative • Jun 23
Walmart's 'Other' Segment Will Power New Growth Beyond Retail
Walmart’s SBU ‘Other’: A Forward-Looking Perspective As Walmart continues to diversify its business, the SBU “Other” has emerged as a dynamic growth engine, capturing new opportunities beyond traditional retail. The week of June 13–19, 2026, offers a compelling snapshot of this segment’s momentum and sets the stage for future projections.Narrative Update • Jun 15
WMT: AI Profit Pools Will Support Premium P/E Despite Consumer Pressures
Analysts have raised their price expectations for Walmart slightly, with the updated fair value moving from about $137.93 to $138.37 as they weigh concerns about a full valuation against the view that AI-driven initiatives and higher margin revenue streams can support a premium P/E multiple. Analyst Commentary Recent research on Walmart points to a mix of optimism around new growth areas and caution around how fully the stock is priced.Analysis Article • Jun 09
Walmart's (NASDAQ:WMT) Promising Earnings May Rest On Soft Foundations
Last week's profit announcement from Walmart Inc. ( NASDAQ:WMT ) was underwhelming for investors, despite headline...Narrative Update • Jun 01
WMT: AI Platform And Alternate Profit Pools Will Outweigh Consumer And Fuel Headwinds
Analysts have inched their Walmart fair value estimate higher to about $138, reflecting modest tweaks to growth and margin inputs and citing AI driven platform investments, expanding higher margin revenue streams, and ongoing competitive strength in areas like rapid delivery and digital health partnerships as key supports for current price targets clustered around $137 to $155. Analyst Commentary Recent research shows a split between bullish analysts who are leaning into Walmart's platform and AI story, and more cautious voices who are watching valuation, consumer pressure, and competitive intensity.Analysis Article • May 25
Earnings Update: Walmart Inc. (NASDAQ:WMT) Just Reported Its First-Quarter Results And Analysts Are Updating Their Forecasts
Walmart Inc. ( NASDAQ:WMT ) shareholders are probably feeling a little disappointed, since its shares fell 9.8% to...Narrative Update • May 01
WMT: AI Omnichannel And Advertising Will Counter Guidance And Competitive Pressures
Walmart's analyst price target edges higher, reflecting modestly adjusted fair value assumptions and continued focus from analysts on the company's tech-enabled omnichannel model and AI-driven initiatives highlighted in recent research. Analyst Commentary Recent research on Walmart centers on how the company is executing its tech enabled omnichannel strategy, the role of AI in driving efficiency, and how those factors line up against current valuation.Narrative Update • Apr 17
WMT: AI Omnichannel And Advertising Profits Will Balance Rising Competitive Risks
The analyst price target for Walmart has been lifted by $17, with analysts pointing to the company's progress in tech enabled omnichannel retail, AI driven commerce initiatives, and broader digital opportunities as key supports for the higher fair value assumptions, despite only modest tweaks to revenue growth, profit margin, discount rate, and future P/E inputs. Analyst Commentary Recent research on Walmart points to an active debate around how much value to place on its tech enabled retail model, AI and automation investments, and newer profit pools such as advertising and connected TV.Narrative Update • Apr 01
WMT: AI Commerce And Drone Expansion Will Support Margins Versus Intensifying Rivals
Analysts have nudged their average Walmart price target higher by roughly $10 to $20 into a $138 to $150 range, citing the retailer's push into AI enabled commerce, expanding digital and advertising platforms, and continued share gains that are pressuring peers. Analyst Commentary Recent research on Walmart highlights a wide range of views, but most commentary clusters around its push into AI powered commerce, growing digital and advertising businesses, and the valuation reset following its latest earnings and guidance.Narrative Update • Mar 18
WMT: AI Commerce And Automation Will Support Margins Amid Competitive Shifts
Analysts have made a small upward adjustment to Walmart's fair value estimate to about $136 per share, reflecting higher Street price targets tied to views that its tech enabled, AI driven omnichannel model can support modestly stronger margins and a slightly richer future P/E multiple, even as revenue growth assumptions are fine tuned lower. Analyst Commentary Recent research on Walmart points to a split view, with many on the Street more constructive on the company’s tech enabled model and earnings power, while a smaller group is turning cautious on near term momentum and valuation.Narrative Update • Mar 03
WMT: AI And Automation Shift Will Shape Retail Resilience And Risks
Our Walmart fair value estimate has edged up from $129.03 to $135.90 as analysts lift price targets into a $138 to $150 range, citing the retailer's shift toward a tech-enabled omnichannel model, its growing use of AI and automation, and the contribution from higher margin alternative businesses. Analyst Commentary Recent Street research around Walmart clusters into two clear camps, with most price targets now sitting in a $134 to $150 range and one group remaining more cautious in the low $120s to low $130s.Narrative Update • Feb 17
WMT: AI Partnerships And New CEO Will Shape Retail And Consumer Resilience
Narrative Update The analyst price target for Walmart in our framework has shifted from $124.28 to $129.03 as analysts factor in a higher assumed future P/E multiple. This adjustment reflects research that cites resilient Q3 execution, a growing higher income customer mix, and ongoing benefits from e-commerce, advertising, and new partnerships such as AI and search integrations with large technology platforms.Narrative Update • Feb 02
WMT: AI Partnerships And New CEO Will Balance Retail And Consumer Headwinds
Analysts have inched their Walmart fair value estimate higher to $124.28 from $123.20, citing a series of recent price target raises and continued confidence in the company’s long term earnings profile, even as some firms turn more cautious on near term retail trends. Analyst Commentary Recent research paints a mixed but generally constructive picture for Walmart, with several firms lifting price targets while a smaller group has turned more cautious on valuation and near term retail trends.Narrative Update • Jan 19
WMT: AI Partnerships And New CEO Are Set To Balance Opportunities
Analysts have nudged our Walmart fair value estimate up to US$123.20 from about US$121.38, reflecting modestly higher assumptions for revenue growth, profit margins, and future P/E, following a series of upward price target revisions and constructive commentary on partnerships like Gemini and other alternative revenue streams. Analyst Commentary Recent research on Walmart has been active, with several firms updating price targets and framing the stock around its execution in core retail, newer revenue streams, and the upcoming CEO transition.Narrative Update • Jan 05
WMT: AI Commerce Shift And New CEO Will Shape Steady Forward Path
Analysts have nudged their Walmart fair value estimate to $121.38 from $119.45, reflecting higher Street price targets clustered around $120 to $130 and commentary that highlights consistent Q3 results, broad-based share gains, expanding eCommerce and advertising contributions, and confidence in the upcoming CEO transition. Analyst Commentary Street research around Walmart has turned more constructive following Q3 results, with several bullish analysts lifting price targets into a tight band around $120 to $130 and reaffirming positive views on execution, mix shift, and the CEO transition.Narrative Update • Dec 14
WMT: AI Commerce And New Leadership Will Support Balanced, Steady Performance Ahead
Analysts have nudged our Walmart fair value estimate modestly higher to about $119 from $118. This reflects slightly faster expected revenue growth, improving profit margins, and confidence in the company’s strengthened earnings trajectory and raised price targets following consistently strong Q3 results and momentum across income cohorts.Narrative Update • Nov 27
WMT: AI Shopping Agent And CEO Transition Will Drive Stable Performance Ahead
Walmart's analyst price target was raised significantly, from $117 to $130. Analysts pointed to robust quarterly results, continued share gains across product categories, and overall business momentum as the primary drivers behind the upward revision.Analysis Article • Nov 22
Walmart (NYSE:WMT) Is Due To Pay A Dividend Of $0.235
Walmart Inc. ( NYSE:WMT ) will pay a dividend of $0.235 on the 5th of January. Despite this raise, the dividend yield...Narrative Update • Nov 13
WMT: Margin Expansion and AI Integration Will Shape Continued Market Leadership
Walmart’s analyst price target has seen a slight increase of $0.18 per share, reflecting analysts’ positive outlook on continued margin improvement and sustained revenue growth. Analyst Commentary Recent Street commentary on Walmart underscores a generally optimistic view on the company's strategic position, operational improvements, and growth outlook, though some caution remains around execution and near-term challenges.Analysis Article • Oct 31
Walmart's (NYSE:WMT) Dividend Will Be $0.235
Walmart Inc.'s ( NYSE:WMT ) investors are due to receive a payment of $0.235 per share on 5th of January. This takes...Narrative Update • Oct 29
Omni-Channel Expansion and AI Advances Will Drive Continued Market Leadership
Walmart's analyst price target has been raised slightly, increasing from $113.13 to $113.60. Analysts point to the company's continued market share gains and execution strength as primary factors behind the upward revision.Narrative Update • Oct 15
Omni-Channel Retail And AI Will Revolutionize Global Markets
Walmart’s fair value estimate has been modestly increased from $112 to $113.13. This change reflects analyst expectations for stronger revenue growth and continued leadership in emerging retail technologies.Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Walmart makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Jul 26 | 735,840 | 22,076 | 153,777 | 0 |
| 30 Apr 26 | 725,305 | 22,736 | 150,972 | 0 |
| 31 Jan 26 | 713,163 | 21,893 | 147,943 | 0 |
| 31 Oct 25 | 703,061 | 22,910 | 145,733 | 0 |
| 31 Jul 25 | 693,153 | 21,344 | 143,179 | 0 |
| 30 Apr 25 | 685,086 | 18,819 | 140,819 | 0 |
| 31 Jan 25 | 680,985 | 19,436 | 139,884 | 0 |
| 31 Oct 24 | 673,819 | 19,676 | 137,670 | 0 |
| 31 Jul 24 | 665,035 | 15,552 | 135,549 | 0 |
| 30 Apr 24 | 657,332 | 18,942 | 133,430 | 0 |
| 31 Jan 24 | 648,125 | 15,511 | 130,971 | 0 |
| 31 Oct 23 | 638,785 | 16,292 | 128,926 | 0 |
| 31 Jul 23 | 630,794 | 14,041 | 126,712 | 0 |
| 30 Apr 23 | 622,021 | 11,299 | 124,413 | 0 |
| 31 Jan 23 | 611,289 | 11,680 | 123,040 | 0 |
| 31 Oct 22 | 600,112 | 8,967 | 119,738 | 0 |
| 31 Jul 22 | 587,824 | 13,870 | 118,243 | 0 |
| 30 Apr 22 | 576,013 | 12,997 | 116,587 | 0 |
| 31 Jan 22 | 572,754 | 13,673 | 117,812 | 0 |
| 31 Oct 21 | 571,962 | 8,020 | 113,681 | 0 |
| 31 Jul 21 | 566,145 | 10,050 | 112,562 | 0 |
| 30 Apr 21 | 562,839 | 12,250 | 112,645 | 0 |
| 31 Jan 21 | 559,151 | 13,510 | 116,288 | 0 |
| 31 Oct 20 | 548,743 | 19,742 | 112,558 | 0 |
| 31 Jul 20 | 542,026 | 17,895 | 111,040 | 0 |
| 30 Apr 20 | 534,661 | 15,029 | 109,317 | 0 |
| 31 Jan 20 | 523,964 | 14,881 | 107,891 | 0 |
| 31 Oct 19 | 521,086 | 14,427 | 107,549 | 0 |
| 31 Jul 19 | 517,989 | 12,849 | 107,268 | 0 |
| 30 Apr 19 | 515,640 | 8,378 | 107,104 | 0 |
| 31 Jan 19 | 514,405 | 6,670 | 107,147 | 0 |
| 31 Oct 18 | 511,879 | 5,158 | 106,826 | 0 |
| 31 Jul 18 | 510,164 | 5,197 | 106,752 | 0 |
| 30 Apr 18 | 505,491 | 8,957 | 105,910 | 0 |
| 31 Jan 18 | 500,343 | 9,862 | 106,010 | 0 |
| 31 Oct 17 | 495,012 | 11,444 | 104,188 | 0 |
| 31 Jul 17 | 490,012 | 12,729 | 103,046 | 0 |
| 30 Apr 17 | 487,511 | 13,603 | 102,385 | 0 |
| 31 Jan 17 | 485,873 | 13,643 | 101,853 | 0 |
| 31 Oct 16 | 484,604 | 14,460 | 100,891 | 0 |
| 31 Jul 16 | 483,833 | 14,730 | 99,563 | 0 |
| 30 Apr 16 | 483,208 | 14,432 | 98,463 | 0 |
| 31 Jan 16 | 482,130 | 14,694 | 97,041 | 0 |
| 31 Oct 15 | 484,028 | 15,086 | 95,267 | 0 |
Quality Earnings: WMT has high quality earnings.
Growing Profit Margin: WMT's current net profit margins (3%) are lower than last year (3.1%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: WMT's earnings have grown by 17.5% per year over the past 5 years.
Accelerating Growth: WMT's earnings growth over the past year (3.4%) is below its 5-year average (17.5% per year).
Earnings vs Industry: WMT earnings growth over the past year (3.4%) did not outperform the Consumer Retailing industry 5.5%.
Return on Equity
High ROE: WMT's Return on Equity (21.5%) is considered high.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/18 03:48 |
| End of Day Share Price | 2026/09/18 00:00 |
| Earnings | 2026/07/31 |
| Annual Earnings | 2026/01/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Walmart Inc. is covered by 68 analysts. 37 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Will Chien | Accountability Research Corporation |
| Christopher Graja | Argus Research Company |
| Peter Benedict | Baird |