Walmart Inc (WMT.DE) Q2 2026 Earnings Report

Walmart’s QQ2 2026 results demonstrate the durability of a mature, scale-based discount retailer. Revenue of $177.402B rose 4.76% year-over-year and 7.12% quarter-over-quarter, supported by resilient demand for groceries and everyday essentials. Gross profit reached $44.631B with a gross margin of 25.16%, while operating income was $7.289B, producing an operating margin of 4.11%. Net income was $7.026B and EPS stood at $0.88, up 56% year-over-year and 57% quarter-over-quarter, reflecting steady top-line growth alongside favorable items in the tax/benefit line or cost structure that benefited bottom-line expansion in the period reported.

The company generated $12.941B in cash from operations, invested $4.986B in capital expenditures, and delivered free cash flow of $7.956B. Cash balances remained robust at $9.877B, with total assets of $270.837B and total equity of $90.110B. Net debt stood at $55.583B, yielding a net debt/EBITDA backdrop of roughly 4.1x, signaling leverage that remains manageable for a retailer of Walmart’s scale but warrants attention to ongoing capital-allocation decisions given share repurchases and dividends (financing outflows of ~$7.001B for the period including $1.645B of repurchases and $1.875B of dividends).

Overall, Walmart remains well-positioned to navigate a competitive discount-retail environment through scale advantages, a broad omnichannel footprint, and strong cash-generation. The key questions for investors center on margin resilience amid ongoing price investments, the pace of e-commerce and omnichannel monetization, international growth momentum, and how the balance-sheet trajectory evolves as Walmart sustains its capital-allocation strategy.