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| 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 |