Walmart Inc. (WMT) Revenue-to-Profit Sankey Flow & SEC XBRL Financials
Walmart Inc. (WMT) earns a Roarable Rating of B- (Buy) with 71/100 RQD Confidence. High-quality cash engine (25% profit margin, 20% return on capital) with steady institutional support. Even if the broader market gets choppy, the company’s underlying cash engine and big-money support put the odds in buyers’ favor.
How WMT Turns Every Dollar of Sales Into Real Bottom-Line Profit
Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory
| Fiscal Year | Revenue | Gross Margin | Op Margin | Net Profit | Free Cash Flow | ROIC % |
|---|---|---|---|---|---|---|
| FY 2026 | $713.16B | 24.9% | 4.2% | $21.89B | $14.92B | 18.5% |
| FY 2025 | $680.99B | 24.9% | 4.3% | $19.44B | $12.66B | 19.6% |
| FY 2024 | $648.13B | 24.4% | 4.2% | $15.51B | $15.12B | 18.8% |
| FY 2023 | $611.29B | 24.1% | 3.3% | $11.68B | $11.98B | 15.1% |
| FY 2022 | $572.75B | 25.1% | 4.5% | $13.67B | $11.07B | 19.3% |
| FY 2021 | $559.15B | 24.8% | 4% | $13.51B | $25.81B | 16.6% |
Walmart's FY2026 10-K (accession 0000104169-26-000055) shows a notable defensive shift in its Item 1A risk disclosures compared to the FY2025 filing, elevating exposure to tariff rate increases, store traffic cannibalization from online grocery, and long-lived asset impairment from heavy automation outlays. Management is actively framing higher digital volume as a gross-margin headwind that dampens high-margin in-store impulse traffic, while explicitly flagging short-term operating losses and self-insured liability creep.
Legal counsel carved out a standalone, dedicated bullet point specifically for modified tariff rates, eliminated exemptions, and new import taxes rather than burying tariffs as a generic macroeconomic factor. Given Walmart's heavy reliance on direct and vendor import sourcing for general merchandise, this pre-hedges gross margin dilution that cannot be fully passed to budget-constrained shoppers under EDLP pricing.
Management acknowledges that accelerating online grocery shift and third-party AI agentic shopping layers are directly hollowing out physical store foot traffic. Physical stores generate Walmart's high-margin general merchandise cross-selling; shifting these volumes into fulfillment channels destroys basket mix profitability and threatens retail media monetization.
The company added explicit warnings of potential asset impairments and admitted that large-scale technology and supply chain automation deployments (such as Symbotic robotics) are generating operational losses and near-term margin drag without guaranteed long-term ROI.
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WMT Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure
SEC XBRL FY2025 → FY2026: Net share cannibal / buyback tailwind.
vs. +6.2% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).
No active Ellis Vennor swing setup published on WMT today. View full Setup Ledger →
No direct multi-tier Butterfly edges indexed yet for WMT. Explore sector supply chains on /butterfly.
WMT Investor FAQ & Complete 8-Part Research Index
100% OPEN ACCESS • SEC EDGAR × CBOE × FREDHow profitable is Walmart Inc. (WMT)?
In FY 2026 (10-K), WMT converted $713.2B of revenue into a 24.9% gross margin, 4.2% operating margin, and $14.9B in free cash flow (2.1% FCF margin).