Walmart (WMT) Operating Expenses (2009 - 2026)

Walmart (WMT) reported Operating Expenses of $37.2 billion for Q2 2026, up 8.86% on a YoY basis from $34.2 billion in Q2 2025, and down 2.96% sequentially from $38.3 billion in Q1 2026.

Walmart (WMT) Operating Expenses (2009 - 2026) Analysis & Trends

Walmart (WMT) has 18 years of Operating Expenses data on file, last reported at $37.2 billion in Q2 2026.

  • For the quarter ending Q2 2026, Operating Expenses rose 8.86% year-over-year to $37.2 billion; the trailing twelve-month figure through Apr 2026 stood at $151.0 billion (up 7.21% YoY), and the FY2026 full-year result was $147.9 billion, up 5.76% from the prior year.
  • Operating Expenses retreated to $37.2 billion in Q2 2026, from $38.3 billion in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $38.3 billion in Q1 2026 to a low of $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.
  • Across the five-year window, Operating Expenses climbed 16.14% in 2022 and fell 3.15% in 2023, its largest moves.
  • Tracing WMT's Operating Expenses over 5 years: stood at $34.5 billion in 2022, then slipped by 3.15% to $33.4 billion in 2023, then grew by 6.35% to $35.5 billion in 2024, then grew by 7.19% to $38.1 billion in 2025, then decreased by 2.35% to $37.2 billion in 2026.
  • Business Quant data shows WMT's Operating Expenses at $37.2 billion in Q2 2026, $38.3 billion in Q1 2026, and $38.1 billion in Q4 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Walmart 862.66 Bn 858.28 Bn 42.63 Bn 37.20 Bn
2 Costco Wholesale 410.89 Bn 392.65 Bn 8.88 Bn 6.27 Bn
3 Target 61.06 Bn 57.53 Bn 7.38 Bn 5.56 Bn
4 Dollar General 25.36 Bn 24.22 Bn 3.32 Bn 2.72 Bn
5 Dollar Tree 22.75 Bn 21.75 Bn 1.83 Bn 1.38 Bn
6 BJ's Wholesale Club Holdings 11.75 Bn 11.72 Bn 1.03 Bn 819.99 Mn
7 Pricesmart 5.65 Bn 5.52 Bn 262.22 Mn 1.42 Bn
8 Bbb Foods 4.68 Bn 4.08 Bn 210.92 Mn -78.53 Mn
9 Ollie's Bargain Outlet Holdings 4.00 Bn 3.70 Bn 310.92 Mn 227.78 Mn

Historic Data

Download Data
DateValue
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