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Walmart (WMT) Operating Expenses (2016 - 2026)

Walmart's Operating Expenses history spans 17 years, with the latest figure at $38.1 billion for Q4 2025.

  • For Q4 2025, Operating Expenses rose 7.19% year-over-year to $38.1 billion; the TTM value through Oct 2025 reached $146.1 billion, up 6.15%, while the annual FY2025 figure was $139.9 billion, 6.81% up from the prior year.
  • Operating Expenses for Q4 2025 was $38.1 billion at Walmart, up from $37.3 billion in the prior quarter.
  • Across five years, Operating Expenses topped out at $38.1 billion in Q4 2025 and bottomed at $28.1 billion in Q2 2021.
  • The 5-year median for Operating Expenses is $33.2 billion (2023), against an average of $32.8 billion.
  • The largest annual shift saw Operating Expenses grew 16.14% in 2022 before it dropped 3.15% in 2023.
  • A 5-year view of Operating Expenses shows it stood at $29.7 billion in 2021, then increased by 16.14% to $34.5 billion in 2022, then decreased by 3.15% to $33.4 billion in 2023, then rose by 6.35% to $35.5 billion in 2024, then rose by 7.19% to $38.1 billion in 2025.
  • Per Business Quant, the three most recent readings for WMT's Operating Expenses are $38.1 billion (Q4 2025), $37.3 billion (Q3 2025), and $34.2 billion (Q2 2025).