Walmart(WMT) - 2026 Q4 - Annual Results

Revenue and Sales Performance - Revenue for Q4 reached $190.7 billion, an increase of 5.6%, or 4.9% in constant currency[8] - Walmart's net sales for the three months ended January 31, 2026, were $188.913 billion, representing a 5.6% increase from $178.830 billion in the same period of 2025[34] - Total revenues for the fiscal year ended January 31, 2026, reached $713.163 billion, up 4.7% from $680.985 billion in 2025[34] - Walmart U.S. net sales reached $129,223 million in Q4 2026, a 4.6% increase from $123,523 million in Q4 2025[37] - Walmart International net sales grew by 11.5% to $35,927 million in Q4 2026, compared to $32,208 million in Q4 2025[37] - Sam's Club U.S. net sales increased by 2.9% to $23,763 million in Q4 2026, up from $23,099 million in Q4 2025[37] - U.S. comparable sales for Walmart U.S. were up 4.5% for the 52 weeks ended January 30, 2026, compared to 4.4% for the previous year[38] - Total revenues for the three months ended January 31, 2026, were reported at $36,341 million, reflecting an 11.6% increase, while consolidated revenues were $190,656 million, up 5.6%[44] - Net sales for the same period were $35,927 million, an increase of 11.5%, with consolidated net sales reaching $188,913 million, up 5.6%[44] Operating Income and Profitability - Adjusted operating income increased by 10.8%, reaching $7.0 billion in Q4[7] - Operating income for the three months ended January 31, 2026, was $8.708 billion, a 10.8% increase compared to $7.859 billion in the prior year[34] - Operating income for Walmart U.S. was $6,953 million in Q4 2026, a 6.6% increase from $6,524 million in Q4 2025[37] - Adjusted operating income for consolidated operations was $8,574 million in fiscal year 2026, a 10.5% increase from $7,760 million in fiscal year 2025[37] - Operating income for the trailing 12 months ended January 31, 2026, was $29,825 million, slightly up from $29,348 million in 2025[67] Net Income and Earnings Per Share - Consolidated net income attributable to Walmart for the three months ended January 31, 2026, was $4.237 billion, down 19.4% from $5.254 billion in the same period of 2025[34] - Consolidated net income for fiscal year 2026 was $22,270 million, an increase of 10.5% from $20,157 million in 2025[36] - Basic net income per common share attributable to Walmart for the three months ended January 31, 2026, was $0.53, a decrease of 18.5% from $0.65 in the prior year[34] - Adjusted diluted earnings per share (EPS) for the fiscal year ended January 31, 2026, was $2.64, reflecting a decrease of $0.09 due to various adjustments[56] - Reported EPS for the three months ended January 31, 2025, was $0.65, with adjusted EPS of $0.66 after accounting for unrealized and realized gains and losses[58] - For the fiscal year ended January 31, 2025, reported EPS was $2.41, with adjusted EPS of $2.51 after net adjustments including business reorganization charges[58] Cash Flow and Capital Expenditures - Operating cash flow for the year was $41.6 billion, an increase of $5.1 billion[12] - Net cash provided by operating activities increased to $41,565 million in 2026, up from $36,443 million in 2025, reflecting a growth of 14.5%[36] - Free cash flow for the fiscal year ended January 31, 2026, was $14,923 million, representing an increase of $2,263 million compared to the prior year[49] - The company experienced a $2.9 billion increase in capital expenditures to support its omnichannel growth strategy during the fiscal year ended January 31, 2026[49] Shareholder Returns and Repurchase - The company announced a new $30 billion share repurchase authorization[7] - The company paid dividends totaling $7,507 million in fiscal year 2026, compared to $6,688 million in fiscal year 2025, reflecting a 12.3% increase[36] Inventory and Advertising - Inventory increased by 4.3% to $58.9 billion, maintaining healthy in-stock levels[12] - The global advertising business saw a 37% increase, with Walmart Connect in the U.S. up 41%[8] Financial Ratios and Tax Rates - Return on Assets (ROA) increased to 8.2% for the trailing 12 months ended January 31, 2026, up from 7.9% in the previous year, driven by higher net income[62] - Return on Investment (ROI) decreased to 15.1% for the trailing 12 months ended January 31, 2026, compared to 15.5% in the prior year, primarily due to increased average invested capital[62] - The effective tax rate for the fiscal year ended January 31, 2026, was reported at 24.4%[56] - The effective tax rate was reported at 22.1% for the three months ended January 31, 2025, and 23.4% for the fiscal year[58]