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Walmart (WMT) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Dec 3, 2025
Walmart (WMT) reported revenue of $179.5B for the third quarter fiscal 2026 (Q3 FY26), +6% from a year earlier and +1% from the quarter before. Operating margin was 3.7%, net earnings $6.1B (3.4% of revenue).
Walmart, Q3 FY26: revenue $179.5B (+6% year over year), operating margin 3.7%, net earnings $6.1B, operating cash flow $9.1B. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $179.5B | +1% | +6% |
| Operating profit | $6.7B | -8% | -0.2% |
| Net earnings | $6.1B | -15% | +29% |
| Operating cash flow | $9.1B | -30% | +39% |
| Free cash flow | $1.9B | -71% | +406% |
What changed
Revenue was $179.5B in Q3 FY26, up 6% year over year and up 1% from the previous quarter.
Operating profit was $6.7B, a 3.7% margin (down 0.2 points year over year). Operating profit fell $0.01B even though revenue rose $9.9B versus a year earlier, so costs grew faster than sales. Total costs grew 6% against revenue growth of 6%. Net earnings were $6.1B, up 34% year over year. The effective tax rate was 25.6%.
Operating cash flow was $9.1B (up 39% year over year), 149% of net earnings. Non-cash charges added back $3.6B of depreciation and amortization. Working capital and other items used $0.59B. Capital expenditures of $7.2B left free cash flow of $1.9B.
Questions
What was Walmart's revenue in the third quarter fiscal 2026?
Walmart (WMT) reported revenue of $179.5B for the third quarter fiscal 2026 (Q3 FY26), +6% from a year earlier and +1% from the quarter before.
Was Walmart profitable in the third quarter fiscal 2026?
Operating profit was $6.7B (3.7% of revenue) and net earnings $6.1B.
Source: Walmart 10-Q on SEC EDGAR.