Net Profit Margin
since 2005
Calculation
Walmart Inc., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Consolidated net income attributable to Walmart1 | ÷ | Net sales1 | |
|---|---|---|---|---|---|---|---|
| Jan 31, 2026 | 3.10% | = | 100 | × | 21,893) | ÷ | 706,413) |
| Jan 31, 2025 | 2.88% | = | 100 | × | 19,436) | ÷ | 674,538) |
| Jan 31, 2024 | 2.41% | = | 100 | × | 15,511) | ÷ | 642,637) |
| Jan 31, 2023 | 1.93% | = | 100 | × | 11,680) | ÷ | 605,881) |
| Jan 31, 2022 | 2.41% | = | 100 | × | 13,673) | ÷ | 567,762) |
| Jan 31, 2021 | 2.43% | = | 100 | × | 13,510) | ÷ | 555,233) |
| Jan 31, 2020 | 2.86% | = | 100 | × | 14,881) | ÷ | 519,926) |
| Jan 31, 2019 | 1.31% | = | 100 | × | 6,670) | ÷ | 510,329) |
| Jan 31, 2018 | 1.99% | = | 100 | × | 9,862) | ÷ | 495,761) |
| Jan 31, 2017 | 2.83% | = | 100 | × | 13,643) | ÷ | 481,317) |
| Jan 31, 2016 | 3.07% | = | 100 | × | 14,694) | ÷ | 478,614) |
| Jan 31, 2015 | 3.39% | = | 100 | × | 16,363) | ÷ | 482,229) |
| Jan 31, 2014 | 3.39% | = | 100 | × | 16,022) | ÷ | 473,076) |
| Jan 31, 2013 | 3.65% | = | 100 | × | 16,999) | ÷ | 466,114) |
| Jan 31, 2012 | 3.54% | = | 100 | × | 15,699) | ÷ | 443,854) |
| Jan 31, 2011 | 3.91% | = | 100 | × | 16,389) | ÷ | 418,952) |
| Jan 31, 2010 | 3.54% | = | 100 | × | 14,335) | ÷ | 405,046) |
| Jan 31, 2009 | 3.34% | = | 100 | × | 13,400) | ÷ | 401,244) |
| Jan 31, 2008 | 3.40% | = | 100 | × | 12,731) | ÷ | 374,526) |
| Jan 31, 2007 | 3.27% | = | 100 | × | 11,284) | ÷ | 344,992) |
| Jan 31, 2006 | 3.59% | = | 100 | × | 11,231) | ÷ | 312,427) |
| Jan 31, 2005 | 3.60% | = | 100 | × | 10,267) | ÷ | 285,222) |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).
1 US$ in millions
The net profit margin exhibited fluctuations over the period from 2005 to 2026. Initially, the margin remained relatively stable, followed by a period of decline, and then a resurgence in later years. A detailed examination reveals specific trends and potential influencing factors.
- Initial Stability and Early Decline (2005-2007)
- From 2005 to 2007, the net profit margin demonstrated a slight degree of stability, ranging between 3.27% and 3.60%. However, a modest downward trend was observable during this timeframe, decreasing from 3.60% in 2005 to 3.27% in 2007.
- Fluctuation and Subsequent Dip (2008-2011)
- The years 2008 through 2011 saw a period of fluctuation. The margin increased to 3.40% in 2008, then experienced a slight decline, before peaking at 3.91% in 2011. This suggests potential responsiveness to economic conditions or internal operational adjustments.
- Mid-Range Stability and Notable Decline (2012-2018)
- Between 2012 and 2015, the net profit margin remained within a narrow range, fluctuating around 3.39% to 3.54%. A significant decline commenced in 2016, falling to 3.07%, and continued through 2018, reaching a low of 1.31%. This period represents the most substantial decrease in profitability over the observed timeframe.
- Recovery and Recent Performance (2019-2026)
- Starting in 2019, the net profit margin began a recovery trajectory, increasing to 2.86%. This upward trend continued, with the margin reaching 3.10% in 2026. The recovery suggests successful implementation of cost-control measures, increased sales efficiency, or favorable market conditions. The margin in 2026 (3.10%) remains below the levels observed in the earlier part of the period (2005-2011), but represents a substantial improvement from the low point in 2018.
Overall, the net profit margin demonstrates a cyclical pattern. While the company experienced a period of strong profitability in the earlier years, it faced challenges leading to a significant decline, followed by a recent recovery. Continued monitoring of this metric will be crucial to assess the sustainability of the recent improvements and the company’s long-term financial health.
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Comparison to Competitors
Walmart Inc., net profit margin, long-term trends, comparison to competitors
| Walmart Inc. | Costco Wholesale Corp. | Target Corp. | |
|---|---|---|---|
| Jan 31, 2026 | 3.10% | — | 3.54% |
| Jan 31, 2025 | 2.88% | 3.00% | 3.84% |
| Jan 31, 2024 | 2.41% | 2.95% | 3.85% |
| Jan 31, 2023 | 1.93% | 2.65% | 2.55% |
| Jan 31, 2022 | 2.41% | 2.62% | 6.55% |
| Jan 31, 2021 | 2.43% | 2.61% | 4.67% |
| Jan 31, 2020 | 2.86% | 2.45% | 4.20% |
| Jan 31, 2019 | 1.31% | 2.45% | 3.90% |
| Jan 31, 2018 | 1.99% | 2.26% | 4.08% |
| Jan 31, 2017 | 2.83% | 2.12% | 3.94% |
| Jan 31, 2016 | 3.07% | 2.02% | 4.56% |
| Jan 31, 2015 | 3.39% | 2.09% | -2.25% |
| Jan 31, 2014 | 3.39% | 1.87% | 2.72% |
| Jan 31, 2013 | 3.65% | 1.98% | 4.09% |
| Jan 31, 2012 | 3.54% | 1.76% | 4.19% |
| Jan 31, 2011 | 3.91% | 1.68% | 4.33% |
| Jan 31, 2010 | 3.54% | 1.71% | 3.81% |
| Jan 31, 2009 | 3.34% | 1.55% | 3.41% |
| Jan 31, 2008 | 3.40% | 1.81% | 4.50% |
| Jan 31, 2007 | 3.27% | 1.72% | 4.68% |
| Jan 31, 2006 | 3.59% | 1.87% | 4.58% |
| Jan 31, 2005 | 3.60% | 2.05% | 6.83% |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).
Comparison to Sector (Consumer Staples Distribution & Retail)
Walmart Inc., net profit margin, long-term trends, comparison to sector (consumer staples distribution & retail)
| Walmart Inc. | Consumer Staples Distribution & Retail | |
|---|---|---|
| Jan 31, 2026 | 3.10% | — |
| Jan 31, 2025 | 2.88% | 3.01% |
| Jan 31, 2024 | 2.41% | 2.70% |
| Jan 31, 2023 | 1.93% | 2.18% |
| Jan 31, 2022 | 2.41% | 2.95% |
| Jan 31, 2021 | 2.43% | 2.72% |
| Jan 31, 2020 | 2.86% | 2.91% |
| Jan 31, 2019 | 1.31% | 1.80% |
| Jan 31, 2018 | 1.99% | 2.26% |
| Jan 31, 2017 | 2.83% | 2.82% |
| Jan 31, 2016 | 3.07% | 3.05% |
| Jan 31, 2015 | 3.39% | 2.56% |
| Jan 31, 2014 | 3.39% | 3.06% |
| Jan 31, 2013 | 3.65% | 3.43% |
| Jan 31, 2012 | 3.54% | 3.33% |
| Jan 31, 2011 | 3.91% | 3.62% |
| Jan 31, 2010 | 3.54% | 3.32% |
| Jan 31, 2009 | 3.34% | 3.12% |
| Jan 31, 2008 | 3.40% | 3.31% |
| Jan 31, 2007 | 3.27% | 3.24% |
| Jan 31, 2006 | 3.59% | 3.48% |
| Jan 31, 2005 | 3.60% | 3.78% |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).
Comparison to Industry (Consumer Staples)
Walmart Inc., net profit margin, long-term trends, comparison to industry (consumer staples)
| Walmart Inc. | Consumer Staples | |
|---|---|---|
| Jan 31, 2026 | 3.10% | — |
| Jan 31, 2025 | 2.88% | 6.10% |
| Jan 31, 2024 | 2.41% | 5.69% |
| Jan 31, 2023 | 1.93% | 5.47% |
| Jan 31, 2022 | 2.41% | 6.11% |
| Jan 31, 2021 | 2.43% | 6.21% |
| Jan 31, 2020 | 2.86% | 6.22% |
| Jan 31, 2019 | 1.31% | 4.62% |
| Jan 31, 2018 | 1.99% | 6.05% |
| Jan 31, 2017 | 2.83% | 5.52% |
| Jan 31, 2016 | 3.07% | 5.88% |
| Jan 31, 2015 | 3.39% | 5.62% |
| Jan 31, 2014 | 3.39% | 6.00% |
| Jan 31, 2013 | 3.65% | 6.75% |
| Jan 31, 2012 | 3.54% | 6.65% |
| Jan 31, 2011 | 3.91% | 6.99% |
| Jan 31, 2010 | 3.54% | 7.59% |
| Jan 31, 2009 | 3.34% | 6.93% |
| Jan 31, 2008 | 3.40% | 6.75% |
| Jan 31, 2007 | 3.27% | 6.11% |
| Jan 31, 2006 | 3.59% | 6.35% |
| Jan 31, 2005 | 3.60% | 6.29% |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).