Discontinued — last reported Q4 '25
Total Cost of Revenue
Cost of RevenueWalmart Total Cost of Revenue increased by 1.5% to $134.71B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 5.8%, from $127.34B to $134.71B. Over 4 years (FY 2021 to FY 2025), Total Cost of Revenue shows an upward trend with a 5.0% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
How to read this metric
An increase relative to revenue suggests declining efficiency or rising input costs, whereas a decrease suggests better operational scaling.
Detailed definition
The direct costs associated with producing and delivering the goods and services sold by the company. This typically inc...
Peer comparison
Cloud-heavy companies monitor this closely as a measure of data center and infrastructure efficiency.
is_total_cost_of_revenueHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | 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 | $103.27B | $105.18B | $105.02B | $90.70B | $106.85B | $115.84B | $115.61B | $105.40B | $115.28B | $121.85B | $121.18B | $114.56B | $121.43B | $126.81B | $127.34B | $119.97B | $124.30B | $132.77B | $134.71B |
| QoQ Change | — | +1.9% | -0.2% | -13.6% | +17.8% | +8.4% | -0.2% | -8.8% | +9.4% | +5.7% | -0.5% | -5.5% | +6.0% | +4.4% | +0.4% | -5.8% | +3.6% | +6.8% | +1.5% |
| YoY Change | — | — | — | — | +3.5% | +10.1% | +10.1% | +16.2% | +7.9% | +5.2% | +4.8% | +8.7% | +5.3% | +4.1% | +5.1% | +4.7% | +2.4% | +4.7% | +5.8% |
Business Segments
Total Cost of Revenue at Other Companies
Frequently Asked Questions
- What is Walmart 's total cost of revenue?
- Walmart (WMT) reported total cost of revenue of $134.71B in Q4 2025.
- How has Walmart 's total cost of revenue changed year-over-year?
- Walmart 's total cost of revenue increased by 5.8% year-over-year, from $127.34B to $134.71B.
- What is the long-term trend for Walmart 's total cost of revenue?
- Over 4 years (2021 to 2025), Walmart 's total cost of revenue has grown at a 5.0% compound annual growth rate (CAGR), from $420.32B to $511.75B.
- What does total cost of revenue mean?
- The direct expenses a company pays to create and deliver what it sells.