Walmart’s QQ3 2025 results reflect a solid top-line performance with a resilient consumer environment for grocery and essential goods. Revenue reached $169.588 billion, up 5.46% year over year and 0.15% quarter over quarter, supported by strength in U.S. grocery and ongoing omni-channel initiatives. Gross profit was $42.248 billion with a gross margin of 24.912%, while operating income totaled $6.708 billion for an operating margin of 3.96%. Net income was $4.577 billion, yielding a net margin of 2.70% and earnings per share of $0.57. Management commentary in the period emphasized continued investments in price leadership, supply chain capabilities, and e-commerce acceleration as key drivers of competitive advantage. On the liquidity and balance sheet side, Walmart generated $6.561 billion of operating cash flow and produced free cash flow of $0.372 billion after capital expenditures of $6.189 billion, leaving cash and cash equivalents of about $10.049 billion and total liquidity support from a robust asset base. The company carries a disciplined debt profile with net debt around $51.7 billion and a debt-to-capitalization ratio near 0.412. While the current ratio sits below 1.0 at 0.848, Walmart’s strong operating cash flow, inventory discipline, and scale provide a strong cushion to fund ongoing investments and capital allocation plans.