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Walmart WMT Free cash flow margin

Free cash flow margin at other companies

Target logo
TargetTGT
2.8%-0.5pp
Dollar General logo
Dollar GeneralDG
5.1%+0.4pp
Lowe's Companies logo
Lowe's CompaniesLOW
8.6%+0.6pp
CVS Health logo
CVS HealthCVS
1.8%
TJX Companies logo
TJX CompaniesTJX
8.9%+2.3pp
Ross Stores logo
Ross StoresROST
11.1%+3.5pp

Other financials

Income statement

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Revenue$177.75B+7.3%
Gross profit$44.7B+8.2%
Operating income$7.5B+5.0%
Net income$5.3B+18.8%
EPS (diluted)$0.67+19.6%

Balance sheet

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Cash & equivalents$11.3B+14.0%
Total debt$74.2B+10.4%
Total equity$94.3B+12.6%
Total assets$289.61B+10.4%

Cash flow

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Operating cash flow$4.7B-12.4%
CapEx$6.7B+34.1%
Free cash flow-$1.9B-558%

Valuation

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Market cap$932.53B+37.1%
Enterprise value$995.39B+35.2%
P/E41×+4.9×
P/S1.3×+0.3×

Profitability

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Gross margin25%+0.1pp
Operating margin4.2%-0.2pp
Net margin3.1%+0.4pp

Returns & leverage

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Return on equity25.5%+2.7pp
Debt / equity0.8×0.0×
Current ratio0.8×0.0×

Where this comes from

Calculated from Walmart ’s reported figures.

Based on trailing twelve months.

The official record: Walmart ’s 10-Q, filed May 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Walmart 's free cash flow margin?
Walmart (WMT) reported free cash flow margin of 1.7% in Q1 2026.
How has Walmart 's free cash flow margin changed year-over-year?
Walmart 's free cash flow margin decreased by 12.3% year-over-year, from 2% to 1.7%.
What is the long-term trend for Walmart 's free cash flow margin?
Over 2 years (2022 to 2026), Walmart 's free cash flow margin has grown at a -16.6% compound annual growth rate (CAGR), from 11.8% to 8.2%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.