Walmart Inc. entered pricing agreements dated October 19, 2026 for U.S. and Canadian note offerings expected to close October 23, 2026, with aggregate net proceeds of $2,985,035,000 and C$4,978,607,500 before transaction expenses.
WMT · Walmart Inc.
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Metrics snapshot
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Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY27 earnings call · Aug 20, 2026TL;DR. Walmart reported Q2 FY27 net sales up 5.1% (cc) and adjusted EPS of $0.81, up 19.1%, supported by 23% global e-commerce growth; the company raised full-year FY27 net sales guidance to 4.0–5.0% (cc), adjusted operating income to 7.0–8.5% (cc), and adjusted EPS to $2.80–$2.87, while absorbing a larger 125 bps pharmacy headwind and over $2 billion in incremental fuel costs.
- + Global e-commerce grew 23%, including Walmart U.S. +24%, Sam's Club +26%, and International +19%
- + Aggressive price investment of 11,000 rollbacks driving share gains and unit growth in food categories
- − Maximum fair price regulation is now estimated as a 125 bps headwind to Walmart U.S. comp in FY27
- − Over $2 billion in incremental fuel-related costs vs. original guidance assumptions
- − Q3 operating income growth guided to only 2.0–4.0% (cc) due to reinvestment of tariff refunds into price investment
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Research
our published analysis of this companyEquibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
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| Calendar comparable sales | 3.3% | Three Months Ended July 31, 2026 filing | — |
| Sam's Club U.S. comparable sales (with fuel) | 8.6% | Three Months Ended July 31, 2026 filing | — |
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| Sam's Club U.S. comparable sales fuel impact | 4.2% | Three Months Ended July 31, 2026 filing | — |
| Sam's Club U.S. eCommerce net sales | $4.7B | Three Months Ended July 31, 2026 filing | — |
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| Tariff refunds received | $2.9B | Three Months Ended July 31, 2026 filing | — |
| Walmart International eCommerce net sales | $9.9B | Three Months Ended July 31, 2026 filing | — |
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| Walmart U.S. eCommerce net sales | $29.4B | Three Months Ended July 31, 2026 filing | — |
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| Adjusted EBITDA non-GAAP | $13.31B | Three Months Ended July 31, 2026 | — |
| Adjusted EBITDA margin non-GAAP | 7.2% | Three Months Ended July 31, 2026 | — |
| Adjusted EPS non-GAAP | $1.46 | Six Months Ended July 31, 2026 | +0.0% |
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| Adjusted operating expenses as a percentage of net sales non-GAAP | 21.4% | Q2 FY27 | — |
| Adjusted operating income non-GAAP | $9.38B | Q2 FY27 | +0.0% |
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| Adjusted operating income (cc) non-GAAP | $9.25B | Q2 FY27 | +0.0% |
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GAAP → non-GAAP reconciliationGAAP Adjusted operating income $9.38B
-$135M Currency exchange rate fluctuations
= Adjusted operating income (cc) $9.25B
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| Average price per share repurchased | $117.61 | Q2 FY27 | — |
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| Canada net sales (constant currency) non-GAAP | $6.5B | Q2 FY27 | — |
| China net sales (constant currency) non-GAAP | $7B | Q2 FY27 | — |
| China new clubs opened over past 12 months | 11 | trailing 12 months ended July 31, 2026 | — |
| eCommerce contribution to comp | 510 | Q2 FY27 | — |
| Free cash flow non-GAAP | $5.53B | Six Months Ended July 31, 2026 | +0.0% |
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GAAP → non-GAAP reconciliationGAAP Net cash provided by operating activities $19.71B
-$14.18B Payments for property and equipment (capital expenditures)
= Free cash flow $5.53B
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| Global advertising business growth | 38% | Q2 FY27 | — |
| Global eCommerce sales growth | 23% | Q2 FY27 | — |
| Global inventory growth (cc) non-GAAP | 6% | Q2 FY27 | — |
| Global membership fee revenue growth | 17% | Q2 FY27 | — |
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| Remaining share repurchase authorization | $25.1B | Q2 FY27 | — |
| Return on investment (ROI) non-GAAP | 15.4% | trailing 12 months ended July 31, 2026 | — |
| ROA | 8% | Q2 FY27 | — |
| Sam's Club U.S. adjusted operating income non-GAAP | $0.7B | Q2 FY27 | — |
| Sam's Club U.S. Adjusted Operating income without fuel non-GAAP | $485M | Q2 FY27 | — |
| Sam's Club U.S. comp sales (ex. fuel) | 4.4% | Q2 FY27 | — |
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| Sam's Club U.S. comp sales without fuel | 5.9% | Q2 FY27 | — |
| Sam's Club U.S. eCommerce contribution to comp | 450 | Q2 FY27 | — |
| Sam's Club U.S. eCommerce sales growth | 26% | Q2 FY27 | — |
| Sam's Club U.S. inventory growth | 8% | Q2 FY27 | — |
| Sam's Club U.S. membership fee revenue growth | 6% | Q2 FY27 | — |
| Sam's Club U.S. net sales without fuel growth | 4.5% | Q2 FY27 | — |
| Sam's Club U.S. transactions | 7% | Q2 FY27 | — |
| Share repurchases during the quarter | $3B | Q2 FY27 | — |
| Shares repurchased during the quarter | 25.7M | Q2 FY27 | — |
| Walmart Connect (ex-VIZIO) advertising growth | 43% | Q2 FY27 | — |
| Walmart International advertising business growth | 20% | Q2 FY27 | — |
| Walmart International eCommerce sales growth | 19% | Q2 FY27 | — |
| Walmart International net sales (constant currency) non-GAAP | $33.7B | Q2 FY27 | — |
| Walmart International new stores opened over last 12 months | 206 | trailing 12 months ended July 31, 2026 | — |
| Walmart U.S. advertising growth | 38% | Q2 FY27 | — |
| Walmart U.S. average ticket | 1.1% | Q2 FY27 | — |
| Walmart U.S. comp sales | 2.6% | Q2 FY27 | — |
| Walmart U.S. comp sales (ex. fuel) | 2.6% | Q2 FY27 | — |
| Walmart U.S. comp sales ex-H&W | 3.4% | Q2 FY27 | — |
| Walmart U.S. comparable sales (with fuel) | 3.1% | 13 Weeks Ended 7/31/2026 | — |
| Walmart U.S. comparable sales (without fuel) | 2.6% | 13 Weeks Ended 7/31/2026 | — |
| Walmart U.S. eCommerce contribution | 510 | Q2 FY27 | — |
| Walmart U.S. eCommerce contribution to comp | 510 | Q2 FY27 | — |
| Walmart U.S. eCommerce sales growth | 24% | Q2 FY27 | — |
| Walmart U.S. inventory growth | 6.3% | Q2 FY27 | — |
| Walmart U.S. transactions | 1.5% | Q2 FY27 | — |
| Walmex net sales (constant currency) non-GAAP | $12.9B | Q2 FY27 | — |
| Calendar comparable sales (with fuel) - Sam's Club U.S. | 5.9% | the three months ended April 30, 2026 filing | — |
| Calendar comparable sales (with fuel) - Walmart U.S. | 4.3% | the three months ended April 30, 2026 filing | — |
| eCommerce contribution to comparable sales - Sam's Club U.S. | 3.1% | the three months ended April 30, 2026 filing | — |
| eCommerce contribution to comparable sales - Walmart U.S. | 5.2% | the three months ended April 30, 2026 filing | — |
| Fuel impact on comparable sales - Sam's Club U.S. | 2.1% | three months ended April 30, 2026 filing | — |
| Total amount paid for share repurchases | $2.08B | the three months ended April 30, 2026 filing | — |
| Total number of shares repurchased | 16.6M | the three months ended April 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Discount Stores — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
WMT
this stock
Walmart Inc.
|
$1.02T | +15.0% | +4.7% | 46.4 | 0.9% |
|
COST
Costco Wholesale Corp
|
$490.19B | +28.3% | +8.2% | 53.3 | 1.8% |
|
TGT
Target Corp
|
$73.35B | +65.2% | +1.9% | 16.8 | 3.6% |
|
DLMAY
Dollarama Inc.
|
$38.91B | +6.1% | — | — | 0.0% |
|
DG
Dollar General Corp
|
$29.59B | +1.0% | +5.2% | 17.4 | 2.4% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Oct 23, 2026
- This year
- 23
Walmart Inc. entered pricing agreements dated October 19, 2026 for U.S. and Canadian note offerings expected to close October 23, 2026, with aggregate net proceeds of $2,985,035,000 and C$4,978,607,500 before transaction expenses.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| WMT | +2.1% | +7.8% | +8.0% | +3.7% | +15.0% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -0.5% | +9.0% | +7.5% | +3.9% | +4.4% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.