Walmart reported Q4 FY26 earnings with total revenue up 5.6% and operating income rising 10.8%. The quarter ended January 30, 2026.
Revenue increased 4.9% in constant currency. Adjusted operating income rose 10.5% on the same basis.
The results were supported by eCommerce growth, advertising income and membership fees.
Key Q4 FY26 figures
-
Revenue: +5.6%
-
Operating income: +10.8%
-
Global eCommerce: +24%
-
Global advertising: +37%
-
Membership fee revenue: +15.1%
-
Operating cash flow: $41.6 billion
-
Free cash flow: $14.9 billion
eCommerce now represents 23% of Walmart’s total sales mix.
Walmart U.S.
Walmart U.S. recorded comparable sales growth of 4.6% excluding fuel during the 13-week period.
eCommerce sales increased 27%, marking the eighth consecutive quarter of online growth above 20% for the segment. Growth was supported by store-fulfilled delivery, digital engagement and advertising expansion.
The U.S. business continues to see stronger digital contribution within its overall sales mix.
Sam’s Club
At Sam’s Club, comparable sales grew 4.0% excluding fuel.
eCommerce rose 23% in the quarter. Membership levels reached record highs, supported by Scan & Go adoption, curbside pickup and delivery services.
Membership fee growth remains a stable and expanding source of profit within the club segment.
Walmart International
International net sales increased 7.5% in constant currency.
eCommerce grew 17% and reached 28% of sales mix.
Operating income in the segment increased approximately 26% in constant currency.
Why It Matters
Walmart Q4 FY26 earnings show operating income growing faster than revenue. That indicates margin improvement.
Advertising, membership income and digital sales are becoming larger profit contributors.
For supermarkets and FMCG suppliers, this confirms that retail growth is increasingly driven by eCommerce, automation and diversified income streams.
Walmart enters FY27 with continued digital momentum and strong cash generation.
