Walmart (WMT) Gross Margin (2009 - 2026)

Walmart (WMT) posted Gross Margin of 24.26% for Q2 2026, down 8.79% sequentially from 26.6% in Q1 2026, and down 68.0% YoY from 75.82% in Q2 2025.

Walmart (WMT) Gross Margin (2009 - 2026) Analysis & Trends

Walmart has reported Gross Margin for 18 years, with the latest figure at 24.26% in Q2 2026.

Quarterly Gross Margin fell 68.0% year-over-year to 24.26% in Q2 2026, while the trailing twelve-month figure through Apr 2026 was 25.11% (up 58.0% YoY) and the FY2026 annual result came in at 24.93%, up 8.0% from the prior year.
Gross Margin retreated to 24.26% in Q2 2026 per WMT's latest filing, from 26.6% in the prior quarter.
Over five years, Gross Margin peaked at 26.6% in Q1 2026 and troughed at 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.
The sharpest annual moves came in 2023 and 2024: Gross Margin jumped 353 bps in 2023, then plunged 209 bps in 2024.
Over 5 years, Gross Margin stood at 24.34% in 2022, then retreated by 1 bps to 23.99% in 2023, then advanced by 1 bps to 24.2% in 2024, then grew by 3 bps to 24.95% in 2025, then decreased by 3 bps to 24.26% in 2026.
According to Business Quant data, Gross Margin over the past three periods registered 24.26%, 26.6%, and 24.95% for Q2 2026, Q1 2026, and Q4 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Gross Margin (Qtr)
1	Walmart	815.87 Bn	805.14 Bn	44.69 Bn	25.14%
2	Costco Wholesale	420.64 Bn	400.64 Bn	9.01 Bn	12.77%
3	Target	73.52 Bn	69.99 Bn	7.38 Bn	29.01%
4	Dollar General	26.85 Bn	25.50 Bn	3.41 Bn	31.62%
5	Dollar Tree	25.51 Bn	24.50 Bn	1.83 Bn	36.87%
6	BJ's Wholesale Club Holdings	12.19 Bn	12.17 Bn	1.03 Bn	18.16%
7	Bbb Foods	5.98 Bn	5.29 Bn	250.62 Mn	16.75%
8	Pricesmart	5.10 Bn	4.78 Bn	262.22 Mn	17.70%
9	Ollie's Bargain Outlet Holdings	4.57 Bn	4.32 Bn	275.96 Mn	41.88%

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