Walmart (WMT) Operating Margin (2009 - 2026)
Walmart's Operating Margin came in at 4.99% for fiscal Q2 2027 (quarter ended Jul 31, 2026), up 0.89 percentage points from 4.11% a year earlier and up 0.78 percentage points from the prior quarter.
Walmart (WMT) Operating Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jul 31, 2026, Walmart reported Operating Margin of 4.39%, up 0.20 percentage points year-over-year; for FY2026 (ended Jan 31, 2026), it was 4.18%, down 0.13 percentage points from FY2025.
- Operating Margin carries a five-year change of +0.15 percentage points (FY2021 to FY2026).
- Going back by fiscal year, Operating Margin was 4.31% in FY2025 (+0.14 pp), 4.17% in FY2024 (+0.83 pp), 3.34% in FY2023 (-1.19 pp) and 4.53% in FY2022 (+0.50 pp).
- The fiscal Q2 2027 figure represents the highest quarterly Operating Margin since fiscal Q2 2022.
- Year-over-year, Operating Margin increased in five of the last eight quarters, with an average year-over-year change of +0.07 percentage points.
- The fastest year-over-year change in Operating Margin over five years came in fiscal Q3 2024 (a gain of 2.09 percentage points), and the weakest in fiscal Q3 2023 (a drop of 2.36 percentage points).
- Business Quant data shows WMT's Operating Margin at 4.22% (Q1 2027), 4.57% (Q4 2026) and 3.73% (Q3 2026) in the three fiscal quarters before Q2 2027.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Walmart | 824.47 Bn | 787.18 Bn | 49.13 Bn | 4.99% |
| 2 | Costco Wholesale | 403.75 Bn | 333.05 Bn | 9.01 Bn | 3.99% |
| 3 | Sysco | 37.36 Bn | 31.61 Bn | 4.13 Bn | 4.44% |
| 4 | Kroger | 34.63 Bn | 20.79 Bn | 7.86 Bn | 2.80% |
| 5 | Dollar General | 26.38 Bn | 21.06 Bn | 3.68 Bn | 6.81% |
| 6 | Caseys General Stores | 22.49 Bn | 20.48 Bn | 1.24 Bn | 8.54% |
| 7 | Dollar Tree | 21.40 Bn | 18.02 Bn | 2.10 Bn | 14.11% |
| 8 | US Foods Holding | 19.94 Bn | 19.74 Bn | 1.92 Bn | 4.21% |
| 9 | Tractor Supply | 16.33 Bn | 15.49 Bn | 1.68 Bn | 10.29% |
| 10 | Performance Food | 14.29 Bn | 14.07 Bn | 2.17 Bn | 1.80% |
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% |
Walmart Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=WMT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "WMT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=WMT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();