Walmart (WMT) Operating Expenses (2009 - 2026)
Walmart (WMT) posted Operating Expenses of $37.2 billion for Q2 2026, down 2.96% sequentially from $38.3 billion in Q1 2026, and up 8.86% YoY from $34.2 billion in Q2 2025.
Walmart (WMT) Operating Expenses (2009 - 2026) Analysis & Trends
Walmart has reported Operating Expenses for 18 years, with the latest figure at $37.2 billion in Q2 2026.
- Quarterly Operating Expenses rose 8.86% year-over-year to $37.2 billion in Q2 2026, while the trailing twelve-month figure through Apr 2026 was $151.0 billion (up 7.21% YoY) and the FY2026 annual result came in at $147.9 billion, up 5.76% from the prior year.
- Operating Expenses retreated to $37.2 billion in Q2 2026 per WMT's latest filing, from $38.3 billion in the prior quarter.
- Over five years, Operating Expenses peaked at $38.3 billion in Q1 2026 and troughed at $29.4 billion in Q2 2022.
- A 5-year average of $34.1 billion and a median of $34.2 billion in 2024 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses increased 16.14% in 2022, then decreased 3.15% in 2023.
- Over 5 years, Operating Expenses stood at $34.5 billion in 2022, then fell by 3.15% to $33.4 billion in 2023, then gained by 6.35% to $35.5 billion in 2024, then gained by 7.19% to $38.1 billion in 2025, then declined by 2.35% to $37.2 billion in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $37.2 billion, $38.3 billion, and $38.1 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Walmart | 828.54 Bn | 817.81 Bn | 44.69 Bn | 37.20 Bn |
| 2 | Costco Wholesale | 414.96 Bn | 394.96 Bn | 9.01 Bn | 6.19 Bn |
| 3 | Target | 72.00 Bn | 68.46 Bn | 7.38 Bn | 5.56 Bn |
| 4 | Dollar General | 26.64 Bn | 25.29 Bn | 3.41 Bn | 2.77 Bn |
| 5 | Dollar Tree | 25.25 Bn | 24.24 Bn | 1.83 Bn | 1.38 Bn |
| 6 | BJ's Wholesale Club Holdings | 11.76 Bn | 11.73 Bn | 1.03 Bn | 819.99 Mn |
| 7 | Bbb Foods | 5.91 Bn | 5.23 Bn | 250.62 Mn | -82.03 Mn |
| 8 | Pricesmart | 5.12 Bn | 4.80 Bn | 262.22 Mn | 1.42 Bn |
| 9 | Ollie's Bargain Outlet Holdings | 4.56 Bn | 4.31 Bn | 275.96 Mn | 233.47 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 37.20 Bn |
| Jan 31, 2026 | 38.33 Bn |
| Oct 31, 2025 | 38.09 Bn |
| Jul 31, 2025 | 37.35 Bn |
| Apr 30, 2025 | 34.17 Bn |
| Jan 31, 2025 | 36.52 Bn |
| Oct 31, 2024 | 35.54 Bn |
| Jul 31, 2024 | 34.59 Bn |
| Apr 30, 2024 | 33.24 Bn |
| Jan 31, 2024 | 34.31 Bn |
| Oct 31, 2023 | 33.42 Bn |
| Jul 31, 2023 | 32.47 Bn |
| Apr 30, 2023 | 30.78 Bn |
| Jan 31, 2023 | 33.06 Bn |
| Oct 31, 2022 | 34.51 Bn |
| Jul 31, 2022 | 30.17 Bn |
| Apr 30, 2022 | 29.40 Bn |
| Jan 31, 2022 | 31.46 Bn |
| Oct 31, 2021 | 29.71 Bn |
| Jul 31, 2021 | 28.51 Bn |