Walmart sold $706.4 billion of merchandise in the year to 31 January 2026. After the cost of that merchandise and the cost of running the stores, clubs and warehouses that moved it, what was left was $23,075 million — 3.27 cents on the dollar. It also collected $6,750 million of membership and other income, which is 0.96% of net sales and 22.6% of operating income. Over nineteen fiscal years Walmart’s revenue has grown 89.2% and its operating income 35.9%; its operating margin has fallen from 5.82% to 4.18%; and the part of its profit growing fastest is the part that does not come from selling anything. This is a full institutional-grade equity research report on Walmart Inc. (NASDAQ: WMT), built from SEC XBRL company facts for CIK 0000104169 across nineteen fiscal years, the rendered Financial Report tables of all 43 Forms 10-K and 10-Q back to fiscal 2016, the unit-count tables of eleven Forms 10-K, and the earnings releases and call transcripts through 20 August 2026, into eight structured chapters and 65 rebuilt charts.
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