Walmart (WMT) Operating Margin (2009 - 2026)
Walmart's (WMT) quarterly Operating Margin came in at 4.99% in Q3 2026, up 89.0% year-over-year from 2.64% in Q3 2025, and up 18.44% quarter-over-quarter from 4.22% in Q2 2026.
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Walmart (WMT) Operating Margin (2009 - 2026) Analysis & Trends
Walmart has disclosed Operating Margin across 18 years of filings, most recently posting 4.99% for Q3 2026.
- In Q3 2026, Operating Margin rose 89.0% year-over-year to 4.99%; the TTM figure through Jul 2026 stood at 4.39% (up 20.0% YoY), while the FY2026 annual figure was 4.18%, down 13.0% from the prior year.
- Operating Margin came in at 4.99% for Q3 2026 at Walmart, up from 4.22% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 4.99% in Q3 2026 to a low of 1.76% in Q4 2022.
- Average Operating Margin over 5 years is 4.06%, with a median of 4.18% recorded in 2024.
- Year-over-year, Operating Margin plunged 236 bps in 2022 and surged 209 bps in 2023.
- Over 5 years, Operating Margin stood at 1.76% in 2022, then jumped by 119 bps to 3.86% in 2023, then rose by 3 bps to 3.96% in 2024, then dropped by 6 bps to 3.73% in 2025, then jumped by 34 bps to 4.99% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 4.99% in Q3 2026, 4.22% in Q2 2026, and 4.57% in Q1 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Walmart | 841.02 Bn | 829.49 Bn | 49.13 Bn | 4.99% |
| 2 | Dollar General | 27.13 Bn | 25.54 Bn | 3.68 Bn | 6.81% |
| 3 | Dollar Tree | 22.62 Bn | 21.56 Bn | 2.10 Bn | 14.11% |
| 4 | Tractor Supply | 17.56 Bn | 17.33 Bn | 1.68 Bn | 10.29% |
| 5 | Bbb Foods | 5.89 Bn | 5.21 Bn | 250.62 Mn | 22.24% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 4.99% |
| Apr 30, 2026 | 4.22% |
| Jan 31, 2026 | 4.57% |
| Oct 31, 2025 | 3.73% |
| Jul 31, 2025 | 4.11% |
| Apr 30, 2025 | 4.31% |
| Jan 31, 2025 | 4.35% |
| Oct 31, 2024 | 3.96% |
| Jul 31, 2024 | 4.69% |
| Apr 30, 2024 | 4.24% |
| Jan 31, 2024 | 4.18% |
| Oct 31, 2023 | 3.86% |
| Jul 31, 2023 | 4.53% |
| Apr 30, 2023 | 4.10% |
| Jan 31, 2023 | 3.39% |
| Oct 31, 2022 | 1.76% |
| Jul 31, 2022 | 4.48% |
| Apr 30, 2022 | 3.76% |
| Jan 31, 2022 | 3.85% |
| Oct 31, 2021 | 4.12% |