Walmart (WMT) Gross Margin (2009 - 2026)
Walmart (WMT) reported Gross Margin of 24.26% for Q2 2026, down 68.0% on a YoY basis from 75.82% in Q2 2025, and down 8.79% sequentially from 26.6% in Q1 2026.
Walmart (WMT) Gross Margin (2009 - 2026) Analysis & Trends
Walmart (WMT) has 18 years of Gross Margin data on file, last reported at 24.26% in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin fell 68.0% year-over-year to 24.26%; the trailing twelve-month figure through Apr 2026 stood at 25.11% (up 58.0% YoY), and the FY2026 full-year result was 24.93%, up 8.0% from the prior year.
- Gross Margin retreated to 24.26% in Q2 2026, from 26.6% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 26.6% in Q1 2026 to a low of 21.88% in Q1 2022.
- A 5-year average of 24.28% and a median of 24.3% in 2022 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin surged 353 bps in 2023 and slumped 209 bps in 2024, its largest moves.
- Tracing WMT's Gross Margin over 5 years: stood at 24.34% in 2022, then dropped by 1 bps to 23.99% in 2023, then increased by 1 bps to 24.2% in 2024, then gained by 3 bps to 24.95% in 2025, then declined by 3 bps to 24.26% in 2026.
- Business Quant data shows WMT's Gross Margin at 24.26% in Q2 2026, 26.6% in Q1 2026, and 24.95% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Walmart | 862.66 Bn | 858.28 Bn | 42.63 Bn | 24.26% |
| 2 | Costco Wholesale | 410.89 Bn | 392.65 Bn | 8.88 Bn | 12.76% |
| 3 | Target | 61.06 Bn | 57.53 Bn | 7.38 Bn | 29.01% |
| 4 | Dollar General | 25.36 Bn | 24.22 Bn | 3.32 Bn | 30.45% |
| 5 | Dollar Tree | 22.75 Bn | 21.75 Bn | 1.83 Bn | 36.87% |
| 6 | BJ's Wholesale Club Holdings | 11.75 Bn | 11.72 Bn | 1.03 Bn | 18.16% |
| 7 | Pricesmart | 5.65 Bn | 5.52 Bn | 262.22 Mn | 17.70% |
| 8 | Bbb Foods | 4.68 Bn | 4.08 Bn | 210.92 Mn | 16.20% |
| 9 | Ollie's Bargain Outlet Holdings | 4.00 Bn | 3.70 Bn | 310.92 Mn | 39.90% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 24.26% |
| Jan 31, 2026 | 26.60% |
| Oct 31, 2025 | 24.95% |
| Jul 31, 2025 | 24.45% |
| Apr 30, 2025 | 24.94% |
| Jan 31, 2025 | 24.58% |
| Oct 31, 2024 | 24.20% |
| Jul 31, 2024 | 24.41% |
| Apr 30, 2024 | 24.08% |
| Jan 31, 2024 | 23.32% |
| Oct 31, 2023 | 23.99% |
| Jul 31, 2023 | 24.61% |
| Apr 30, 2023 | 23.66% |
| Jan 31, 2023 | 25.41% |
| Oct 31, 2022 | 24.34% |
| Jul 31, 2022 | 23.48% |
| Apr 30, 2022 | 23.84% |
| Jan 31, 2022 | 21.88% |
| Oct 31, 2021 | 24.56% |
| Jul 31, 2021 | 24.80% |