Walmart (WMT) Operating Margin (2009 - 2026)
Walmart (WMT) reported Operating Margin of 4.27% for Q2 2026, down 4.0% on a YoY basis from 4.44% in Q2 2025, and down 4.17% sequentially from 4.45% in Q1 2026.
Walmart (WMT) Operating Margin (2009 - 2026) Analysis & Trends
Walmart (WMT) has 18 years of Operating Margin data on file, last reported at 4.27% in Q2 2026.
- For the quarter ending Q2 2026, Operating Margin fell 4.0% year-over-year to 4.27%; the trailing twelve-month figure through Apr 2026 stood at 4.15% (down 19.0% YoY), and the FY2026 full-year result was 4.18%, down 13.0% from the prior year.
- Operating Margin declined to 4.27% in Q2 2026, from 4.45% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 4.73% in Q3 2024 to a low of 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.
- Across the five-year window, Operating Margin slumped 240 bps in 2022 and soared 213 bps in 2023, its largest moves.
- Tracing WMT's Operating Margin over 5 years: stood at 1.76% in 2022, then soared by 121 bps to 3.89% in 2023, then gained by 3 bps to 3.99% in 2024, then decreased by 7 bps to 3.73% in 2025, then gained by 14 bps to 4.27% in 2026.
- Business Quant data shows WMT's Operating Margin at 4.27% in Q2 2026, 4.45% in Q1 2026, and 3.73% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Walmart | 862.66 Bn | 858.28 Bn | 42.63 Bn | 4.27% |
| 2 | Costco Wholesale | 410.89 Bn | 392.65 Bn | 8.88 Bn | 3.74% |
| 3 | Target | 61.06 Bn | 57.53 Bn | 7.38 Bn | 4.46% |
| 4 | Dollar General | 25.36 Bn | 24.22 Bn | 3.32 Bn | 5.56% |
| 5 | Dollar Tree | 22.75 Bn | 21.75 Bn | 1.83 Bn | 9.51% |
| 6 | BJ's Wholesale Club Holdings | 11.75 Bn | 11.72 Bn | 1.03 Bn | 3.67% |
| 7 | Pricesmart | 5.65 Bn | 5.52 Bn | 262.22 Mn | 4.43% |
| 8 | Bbb Foods | 4.68 Bn | 4.08 Bn | 210.92 Mn | 22.24% |
| 9 | Ollie's Bargain Outlet Holdings | 4.00 Bn | 3.70 Bn | 310.92 Mn | 14.00% |
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% |