Analysis of Revenues
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- Balance Sheet: Assets
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- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
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- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Price to Sales (P/S) since 2005
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Revenues as Reported
Walmart Inc., income statement, revenues
US$ in millions
Based on: 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).
The revenue data displays various patterns across different segments over the years.
- Grocery
- There is a consistent upward trend in grocery revenues, growing from 190,550 million USD in 2020 to an estimated 276,003 million USD by 2025. This segment shows robust growth, indicating its critical role in overall revenue.
- General Merchandise
- The general merchandise category shows growth from 109,600 million USD in 2020 to a peak of 125,876 million USD in 2022, followed by a decline to 113,921 million USD projected in 2025. This decline in recent years may reflect changing consumer preferences or increased competition in this area.
- Health and Wellness
- This segment consistently increases from 37,507 million USD in 2020 to a forecast of 62,092 million USD in 2025, illustrating strong growth and suggesting expanding demand or successful strategic initiatives in this area.
- Other
- Revenue under the category "Other" shows a steady increase from 3,347 million USD in 2020 to a projection of 10,399 million USD in 2025, indicating diversification or expansion into additional revenue streams.
- Walmart U.S.
- The Walmart U.S. segment demonstrates steady growth from 341,004 million USD in 2020 to 462,415 million USD in the estimate for 2025. This reflects a positive revenue trajectory over the six-year period.
- Mexico and Central America
- There is an initial dip in 2021 to 32,642 million USD from 33,350 million USD in 2020, followed by continuous growth to 51,970 million USD projected for 2025, indicating recovery and expansion in this region.
- Canada
- Canadian revenues increase steadily from 18,420 million USD in 2020 to 23,035 million USD in 2025 with moderate annual growth, displaying stable performance in this market.
- China
- The China segment shows gradual growth from 10,671 million USD in 2020 to a forecasted 19,975 million USD in 2025, highlighting sustained expansion despite geopolitical or market challenges.
- United Kingdom
- The UK revenue sharply declines from 29,243 million USD in 2020 to only 3,811 million USD in 2022, and no data is available for subsequent years, likely indicating an exit or significant downsizing in this market.
- Other International
- Revenues in this category decrease from 28,446 million USD in 2020 to 23,476 million USD in 2023, before bouncing back somewhat to 26,905 million USD in 2025, suggesting some volatility or market adjustments in these regions.
- Walmart International
- Overall Walmart International revenues decline from 120,130 million USD in 2020 to about 100,959 million USD in 2022 and remain flat through 2023, then recover to 121,885 million USD by 2025. This pattern reflects some challenges and subsequent recovery in international operations.
- Grocery (Sam’s Club)
- Within Sam’s Club, the grocery segment grows steadily from 35,328 million USD in 2020 to 59,976 million USD in 2025, paralleling the overall grocery growth trend.
- Fuel and Other (Sam’s Club)
- This segment exhibits fluctuations, decreasing initially from 11,296 million USD in 2020 to 7,838 million USD in 2021, then increasing to a peak of 15,385 million USD in 2023 before tapering down to 12,924 million USD in 2025, indicating volatility in fuel and related sales.
- General Merchandise (Sam’s Club)
- Growth is observed from 8,797 million USD in 2020 to 11,730 million USD in 2022, followed by a slight dip and recovery to 11,249 million USD by 2025, reflecting relative stability in this category within Sam’s Club.
- Health and Wellness (Sam’s Club)
- This segment grows consistently from 3,371 million USD in 2020 to 6,089 million USD in 2025, highlighting increasing contribution from health and wellness products in Sam’s Club.
- Sam’s Club Total
- Sales for Sam’s Club increase steadily from 58,792 million USD in 2020 to 90,238 million USD estimated in 2025, indicating positive momentum and expansion within this division.
- Net Sales
- Overall net sales increase from 519,926 million USD in 2020 to a forecasted 674,538 million USD in 2025, demonstrating sustained growth across the company’s operations over the time period analyzed.