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, 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: 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
- Net Sales Trend
- Net sales showed a consistent upward trajectory over the entire period, increasing from approximately 285 billion USD in early 2005 to about 675 billion USD projected for early 2025. This steady growth indicates sustained expansion in revenue generation, with no periods of decline observed.
- Consolidated Net Income
- The consolidated net income attributable demonstrated growth from 10.3 billion USD in 2005, peaking near 16.4 billion USD in 2011. Post-2011, income exhibited fluctuations with a notable decline reaching a low point of 6.7 billion USD in 2019. This was followed by a recovery phase, with net income rebounding to an estimated 19.4 billion USD by 2025. Such variability suggests periods of operational or market challenges, followed by successful recovery strategies.
- Net Profit Margin
- Net profit margin percentages reflected a relatively stable pattern in the earlier years, oscillating around 3.3% to 3.9% between 2005 and 2011. After 2011, margins generally trended downward, hitting a low of approximately 1.3% in 2019, coinciding with the lowest net income figure. The margin recovered moderately in the following years, projected to reach around 2.9% by 2025. This pattern suggests increasing pressure on profitability despite rising sales volumes, potentially due to increased costs or competitive pricing.
- Overall Insights
- The data reveals a strong expansion in top-line revenue over two decades, indicating successful market penetration or growth strategies. However, profit margins and net income figures display more volatility, hinting at episodic operational challenges or external market pressures impacting profitability. Recovery phases seen after downturns suggest adaptive financial management and potential restructuring efforts. Maintaining robust net sales alongside fluctuating margins highlights a need for continued focus on cost control and efficiency to sustain profitability improvements moving forward.
Comparison to Competitors
Walmart Inc., net profit margin, long-term trends, comparison to competitors
| Walmart Inc. | Costco Wholesale Corp. | Target Corp. | |
|---|---|---|---|
| Jan 31, 2025 | 2.88% | — | 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: 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, 2025 | 2.88% | — |
| 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: 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, 2025 | 2.88% | — |
| 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: 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).