Walmart Inc (WMT.NE) Q2 2025 Earnings Report

Walmart delivered solid top-line growth in QQ2 2025, reporting revenue of $169.335 billion, up 4.8% year over year, with a gross margin of 25.11% and an operating margin of 4.69%. Despite revenue expansion, net income declined to $4.50 billion and earnings per share stood at $0.56, reflecting a softer profitability mix versus the prior year. Operating cash flow was robust at $12.11 billion and free cash flow reached $6.28 billion, underscoring Walmart’s ability to convert scale into cash despite margin headwinds. The company returned capital to shareholders through $1.01 billion of share repurchases and $1.67 billion of dividends, while continuing to invest in store modernizations, omnichannel capabilities, and international growth. The balance sheet remains heavily asset-light relative to scale, with ample cash flow generation underpinning a prudent capital allocation framework. With a current ratio of 0.803 and a quick ratio of 0.219, Walmart’s liquidity profile reflects a working-capital-intensive model inherent to a high-volume retailer, but one that is supported by strong ongoing operating cash flow and credit facilities. Overall, Walmart’s QQ2 performance reinforces its position as a cash-generative leader in the discount-store space, while signaling margin discipline and competitive resilience amidst a challenging macro and competitive environment.