Walmart Walmart U.S. — Operating, selling, general and administrative expenses increased by 2.2% to $28.20B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 5.7%, from $26.67B to $28.20B. Over 2 years (FY 2023 to FY 2025), Walmart U.S. — Operating, selling, general and administrative expenses shows an upward trend with a 6.1% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
A decrease relative to sales signals improved operational leverage and efficiency, whereas an increase may indicate rising labor costs or inefficient overhead management.
This metric encompasses the indirect costs of operating the domestic retail segment, including store labor, corporate ov...
Comparable to SG&A expenses reported by other large retail chains.
wmt_segment_walmart_u_s_operating_selling_general_and_administrative_expenses| Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $23.24B | $23.24B | $23.24B | $23.24B | $20.72B | $24.86B | $25.84B | $26.67B | $23.13B | $25.74B | $27.60B | $28.20B |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | -10.9% | +20.0% | +4.0% | +3.2% | -13.3% | +11.3% | +7.2% | +2.2% |
| YoY Change | — | — | — | — | -10.9% | +6.9% | +11.2% | +14.8% | +11.7% | +3.6% | +6.8% | +5.7% |
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