Walmart stock holds near its annual range as sales and profit stay large

Walmart stock (Walmart Inc., ISIN US9311421039) is supported by $681.0 billion in fiscal 2025 revenue and $19.4 billion in operating income, while first-quarter fiscal 2026 net sales rose 2.5% to $165.6 billion. Walmart Investor Relations gives the latest company context, and the share sits in a business that remains large enough to move around quarterly changes in sales, margin, and cash flow.

Fiscal 2025 still sets the scale

For fiscal 2025, Walmart reported revenue of $681.0 billion, operating income of $19.4 billion, and consolidated net income of $19.4 billion. Those figures frame the current stock story better than any single trading session because they show the size of the underlying earnings base.

The comparison matters: fiscal 2025 revenue was up 5.0% from $648.1 billion in fiscal 2024, while operating income increased from $22.8 billion to $19.4 billion only because the company also recorded restructuring and other items that affected the year-over-year mix. The scale is still plain, and it is one reason the market treats quarterly noise differently from a true change in operating momentum.

Q1 2026 adds a fresh read

In first-quarter fiscal 2026, Walmart said net sales rose 2.5% to $165.6 billion and operating income increased 4.3% on a constant-currency basis. Comparable sales in Walmart U.S. rose 4.5%, including fuel, and e-commerce sales grew 22% globally, which gives the latest quarter a clearer operating tone than a simple top-line headline.

That quarter also delivered another comparison point: adjusted earnings per share reached $0.61, up from $0.56 a year earlier. For investors, the key detail is not just the growth rate but the combination of higher sales, higher digital volume, and a still-massive revenue base measured in hundreds of billions of dollars.

Margin and cash generation

Walmart closed fiscal 2025 with free cash flow of $12.7 billion and returned $9.4 billion to shareholders through dividends and buybacks. The company also said inventory ended the year at $57.8 billion, a figure that matters because inventory discipline affects both working capital and margin stability.

Those numbers help explain why the stock can remain sensitive to small changes in mix, especially when grocery, general merchandise, pharmacy, and marketplace activity do not move in the same direction. A retailer with this scale does not need dramatic growth to change sentiment; it needs consistency across sales, margin, and cash conversion.

Walmart U.S. keeps moving

The company highlighted Walmart U.S. as the main engine of the quarter, with comparable sales up 4.5% and e-commerce up 21% in the segment. Membership income also rose, which matters because higher recurring fees can cushion the business when discretionary spending softens.

Sam's Club added another layer, with comparable sales up 6.7% excluding fuel and membership income increasing 9.0% in the quarter. That gives the market two separate membership-led signals inside the same company, one at warehouse scale and one in the main U.S. chain.

Marketplace and delivery

The product and service mix behind Walmart stock is increasingly digital, led by the Walmart app, marketplace, pickup, and delivery. In first-quarter fiscal 2026, global e-commerce sales grew 22%, and the company also said advertising and membership businesses helped broaden profitability beyond store traffic alone.

That combination is important because Walmart does not need e-commerce to replace stores; it needs it to improve frequency, basket size, and monetization across a much larger customer base. The company's operating model now depends as much on fulfillment efficiency as on shelf turns, which is why small changes in digital growth can matter more than they once did.

Share level and market frame

Walmart stock trades on the NYSE, and the latest company filings and quarterly updates point to a business with fiscal 2025 revenue of $681.0 billion, fiscal 2025 operating income of $19.4 billion, and first-quarter fiscal 2026 net sales of $165.6 billion. Those are the numbers that frame the equity story more reliably than day-to-day sentiment.

As of the latest available company context, Walmart's stock price should be read against that scale rather than against a single quarter alone. A retailer with more than $165 billion of quarterly sales and more than $681 billion of annual revenue is being judged on execution, not narrative.

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