Short answer
Walmart (WMT) filed its Q4 2025 10-Q quarterly report on Dec 3, 2025 for the quarter ended Oct 31, 2025. Quarterly revenue was $177.8B (up 5.8% year over year) with net income of $6.1B.
Q4 2025 key financials · XBRL
- Revenue
- $177.8B
- +5.8% YoY · +1.1% QoQ
- Net income
- $6.1B
- +34.2% YoY · −12.6% QoQ
- Operating margin
- 3.8%
- EPS (diluted)
- $0.77
- +37.5% YoY · −11.5% QoQ
Source: XBRL data from the Walmart (WMT) Q4 2025 10-Q on SEC EDGAR. USD.
Walmart Q4 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $177.8B Q1 FY2025, up 5.8% YoY from $168.0B; $517.5B YTD, up 4.4% YoY from $495.7B
- Operating margin 3.8% Q1 FY2025 vs 4.0% YoY; 4.1% YTD vs 4.3% YoY, impacted by higher expenses and share-based compensation charge
- Best segment: Walmart U.S. operating income $5.78B Q1 (+6.4% YoY), margin 4.8% vs 4.7% YoY; worst segment: Walmart International operating income $1.20B Q1 (-29.2% YoY), margin 2.1% vs 4.0% YoY
- Operating cash flow $27.5B YTD (+$4.5B YoY); free cash flow $8.8B YTD (+$2.6B YoY) despite $1.9B increase in capital expenditures to $18.6B
- Near-term outlook notes continued macroeconomic uncertainty, inflation, tariffs and supply chain pressures; dividend increased 13% to $0.94/share; ongoing share repurchases $7.0B YTD
Risk Factors
- New regulatory risk: Enactment of One Big Beautiful Bill Act July 2025 with corporate tax changes expected to affect cash tax timing and payments
- Updated operating expense risk: $0.7B PhonePe share-based compensation charge and $0.8B rise in U.S. self-insured general liability claims raising costs
- Legal and compliance risk: Ongoing opioid-related litigation with ~230 cases, plus DOJ investigation and other antitrust matters including Mexico and India cases
- Market risk: Currency exchange rate fluctuations negatively impacted net sales by $0.2B (Q3) and $4.0B (9 months) ended Oct 31, 2025
- Financial risk: Increased working capital deficit to $22.8B (Oct 2025) from $15.6B (Oct 2024) driven by payment timing and short-term borrowings rise
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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