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How Walmart (WMT) makes money
Walmart (WMT) made $187.9B of revenue in the second quarter fiscal 2027 (Q2 FY27), +6% from a year earlier. Of every dollar of revenue, 5¢ was left as operating profit, 3¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q2 FY27 | % of revenue |
|---|---|---|
| Revenue | $187.9B | 100.0% |
| Operating profit | $9.4B | 5.0% |
| Income tax | $1.5B | 0.8% |
| Net earnings | $6.5B | 3.5% |
| Operating cash flow | $15.0B | 8.0% |
| Free cash flow | $7.5B | 4.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 FY27 | $187.9B | +6% |
| Q1 FY27 | $177.8B | +7% |
| Q4 FY26 | $190.7B | +6% |
| Q3 FY26 | $179.5B | +6% |
| Q2 FY26 | $177.4B | +5% |
| Q1 FY26 | $165.6B | +2% |
| Q4 FY25 | $180.6B | +4% |
From Walmart's 10-Q filed Aug 28, 2026 (on EDGAR).
Questions
How does Walmart make money?
Walmart (WMT) made $187.9B of revenue in the second quarter fiscal 2027 (Q2 FY27), +6% from a year earlier. Of every dollar of revenue, 5¢ was left as operating profit, 3¢ was left as net earnings.
What is Walmart's profit margin?
Net earnings were $6.5B, 3.5% of revenue, in the second quarter fiscal 2027; the operating margin was 5.0%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.