Short answer
Walmart (WMT) filed its fiscal 2026 10-K annual report with the SEC on Mar 13, 2026. It reported revenue of $706.4B (+4.7% year over year) and net income of $21.9B.
- Top risk flagged: VIZIO FTC/NJ AG stipulated order active until 2037 requiring ongoing consumer data compliance; non-compliance risks penalties and regulatory action
FY2026 key financial metrics · XBRL
- Revenue
- $706.4B
- +4.7% YoY
- Net income
- $21.9B
- +12.6% YoY
- Operating margin
- 4.2%
- −0.1 pp YoY
- EPS (diluted)
- $2.73
- +13.3% YoY
- ROE
- 22.0%
- +0.6 pp YoY
- Operating cash flow
- $41.6B
- +14.1% YoY
Source: XBRL data from the Walmart (WMT) FY2026 10-K on SEC EDGAR. USD.
Walmart FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Omnichannel retailer combining physical stores/clubs, eCommerce, marketplace, health & wellness, and financial services (OnePay fintech venture) into integrated ecosystem
- OnePay fintech venture and VIZIO acquisition explicitly named; VIZIO subject to FTC/NJ AG stipulated order through 2037 on consumer data practices
- Tariff exposure flagged as material fiscal 2026 impact; dynamic tariff environment expected to continue into fiscal 2027 with uncertain financial effect
- Walmart International generated ~19% of consolidated net sales in fiscal 2026; Walmart U.S. + Sam's Club U.S. combined ~82%
- AI investment highlighted across customer experience, supply chain, and talent: but also identified as expanding cybersecurity attack surface via autonomous AI-driven threats
Management Discussion & Analysis
- Net sales $706.4B, up $31.9B or 4.7% YoY; currency headwinds of $2.8B partially offset growth
- Operating margin 4.2% vs 4.4% prior year; gross profit rate 24.2% vs 24.1%; opex ratio 20.9% vs 20.7%
- Best segment: Walmart U.S., operating income $25.2B, margin 5.2% vs 5.2%; worst: Walmart International, operating income fell $0.4B to $5.1B, margin 3.9% vs 4.5%
- Operating cash flow $41.6B (+$5.1B YoY); free cash flow $14.9B; capex $26.6B; dividends $7.5B; buybacks $8.1B; new $30B repurchase authorization approved Feb 2026
- FY2027 capex guided $25B–$27B; key risks include tariffs, currency volatility, and macro uncertainty from dynamic trade environment
Risk Factors
- VIZIO FTC/NJ AG stipulated order active until 2037 requiring ongoing consumer data compliance; non-compliance risks penalties and regulatory action
- Tariff environment materially impacted fiscal 2026 results; ~82% of US segment net sales exposed, with significant general merchandise sourced internationally
- China PIPL/CAC data transfer approval expires August 2026; reapplication required or cross-border data access halted for Walmart China operations
- AI-enabled agentic shopping platforms by competitors risk reducing store traffic and cross-selling opportunities as eCommerce share grows
- OECD Global Minimum Tax (Pillar Two) now effective in multiple Walmart operating jurisdictions, requiring complex system and data changes with uncertain tax rate impact
Generated from the filing text; verify against the original. How to read a 10-K
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