Walmart (WMT) Operating Margin (2009 - 2026)
Walmart (WMT) posted Operating Margin of 4.27% for Q2 2026, down 4.17% sequentially from 4.45% in Q1 2026, and down 4.0% YoY from 4.44% in Q2 2025.
Walmart (WMT) Operating Margin (2009 - 2026) Analysis & Trends
Walmart has reported Operating Margin for 18 years, with the latest figure at 4.27% in Q2 2026.
- Quarterly Operating Margin fell 4.0% year-over-year to 4.27% in Q2 2026, while the trailing twelve-month figure through Apr 2026 was 4.15% (down 19.0% YoY) and the FY2026 annual result came in at 4.18%, down 13.0% from the prior year.
- Operating Margin declined to 4.27% in Q2 2026 per WMT's latest filing, from 4.45% in the prior quarter.
- Over five years, Operating Margin peaked at 4.73% in Q3 2024 and troughed at 1.76% in Q4 2022.
- A 5-year average of 4.02% and a median of 4.18% in 2025 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2022 and 2023: Operating Margin plunged 240 bps in 2022, then surged 213 bps in 2023.
- Over 5 years, Operating Margin stood at 1.76% in 2022, then soared by 121 bps to 3.89% in 2023, then grew by 3 bps to 3.99% in 2024, then declined by 7 bps to 3.73% in 2025, then grew by 14 bps to 4.27% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 4.27%, 4.45%, and 3.73% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Walmart | 815.95 Bn | 805.22 Bn | 44.69 Bn | 4.22% |
| 2 | Costco Wholesale | 420.40 Bn | 400.41 Bn | 9.01 Bn | 3.99% |
| 3 | Target | 73.67 Bn | 70.14 Bn | 7.38 Bn | 4.46% |
| 4 | Dollar General | 26.90 Bn | 25.55 Bn | 3.41 Bn | 5.92% |
| 5 | Dollar Tree | 25.52 Bn | 24.52 Bn | 1.83 Bn | 9.51% |
| 6 | BJ's Wholesale Club Holdings | 12.16 Bn | 12.13 Bn | 1.03 Bn | 3.67% |
| 7 | Bbb Foods | 5.98 Bn | 5.29 Bn | 250.62 Mn | 22.24% |
| 8 | Pricesmart | 5.08 Bn | 4.76 Bn | 262.22 Mn | 4.43% |
| 9 | Ollie's Bargain Outlet Holdings | 4.57 Bn | 4.32 Bn | 275.96 Mn | 10.56% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 4.27% |
| Jan 31, 2026 | 4.45% |
| Oct 31, 2025 | 3.73% |
| Jul 31, 2025 | 4.15% |
| Apr 30, 2025 | 4.31% |
| Jan 31, 2025 | 4.35% |
| Oct 31, 2024 | 3.99% |
| Jul 31, 2024 | 4.73% |
| Apr 30, 2024 | 4.28% |
| Jan 31, 2024 | 4.22% |
| Oct 31, 2023 | 3.89% |
| Jul 31, 2023 | 4.53% |
| Apr 30, 2023 | 4.13% |
| Jan 31, 2023 | 3.31% |
| Oct 31, 2022 | 1.76% |
| Jul 31, 2022 | 4.53% |
| Apr 30, 2022 | 3.79% |
| Jan 31, 2022 | 3.98% |
| Oct 31, 2021 | 4.16% |
| Jul 31, 2021 | 5.26% |