Stock Analysis on Net

Walmart Inc. (NASDAQ:WMT)

$24.99

Statement of Comprehensive Income

Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.

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Walmart Inc., consolidated statement of comprehensive income

US$ in millions

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12 months ended: Jan 31, 2026 Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021
Consolidated net income
Currency translation and other before reclassifications, net
Reclassifications to income, net
Other comprehensive income (loss), net of income taxes
Comprehensive income, net of income taxes
Comprehensive (income) loss attributable to noncontrolling interest
Comprehensive income attributable to Walmart

Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31).


The statement of comprehensive income reveals fluctuating performance over the six-year period. Consolidated net income demonstrates an overall upward trajectory, though not consistently. Other comprehensive income exhibits significant volatility, impacting the overall comprehensive income attributable to Walmart.

Consolidated Net Income
Consolidated net income increased from US$13,706 million in 2021 to US$13,940 million in 2022, representing modest growth. A decline was then observed in 2023, falling to US$11,292 million, before a substantial recovery to US$16,270 million in 2024. This positive trend continued with further increases to US$20,157 million in 2025 and US$22,270 million in 2026, indicating accelerating profitability in the later years of the period.
Other Comprehensive Income
Other comprehensive income experienced considerable variation. A significant increase occurred between 2021 (US$826 million) and 2022 (US$2,770 million). However, 2023 saw a substantial loss of US$2,056 million. A partial recovery occurred in 2024 (US$944 million), followed by a loss in 2025 (US$2,859 million) and a return to positive territory in 2026 (US$1,009 million). This volatility suggests the presence of substantial unrealized gains and losses or other items impacting comprehensive income.
Comprehensive Income
Comprehensive income, net of income taxes, generally followed the trend of consolidated net income, but was influenced by the fluctuations in other comprehensive income. It rose from US$14,532 million in 2021 to US$16,710 million in 2022, decreased to US$9,236 million in 2023, and then increased significantly to US$17,214 million in 2024. Growth continued in 2025 to US$17,298 million, culminating in a substantial increase to US$23,279 million in 2026.
Noncontrolling Interest
The impact of comprehensive income attributable to noncontrolling interest was relatively small in the earlier years, but became more pronounced in later periods. A negative value was recorded in 2022 (US$-37 million) and 2024 (US$-1,325 million), and 2025 (US$-165 million), with a significant negative impact in 2026 (US$-551 million). This suggests that the performance of entities in which Walmart does not hold a controlling interest has, at times, detracted from overall comprehensive income.
Comprehensive Income Attributable to Walmart
Comprehensive income attributable to Walmart mirrors the overall comprehensive income trend, adjusted for the noncontrolling interest. It increased from US$14,549 million in 2021 to US$16,673 million in 2022, decreased to US$10,028 million in 2023, and then increased to US$15,889 million in 2024. Further growth was observed in 2025 (US$17,133 million) and 2026 (US$22,728 million), demonstrating a strong finish to the period.

In summary, while consolidated net income shows a clear upward trend, the overall comprehensive income picture is more complex due to the volatility of other comprehensive income. The increasing comprehensive income attributable to Walmart in the final two years suggests improved overall financial performance, despite the fluctuations experienced earlier in the period.