Walmart Inc. stock research
FY2027 Q1
Walmart (WMT) Gross Margin & Quarterly History
Explore Walmart Inc. (WMT) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Apr 30, 2026 · FY2027 Q1
Revenue declined from the prior quarter but increased from the same quarter last year. Gross profit followed a similar pattern, while gross margin improved compared with both periods.
- The gross margin improvement was associated with a smaller proportion of cost of revenue to total revenue, as cost of revenue decreased more than revenue sequentially and grew less than revenue year-over-year.
- Compared with the prior quarter, revenue and gross profit were lower, but gross margin was higher. Compared with the same quarter a year ago, revenue and gross profit were higher, and gross margin was also higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
24.3%
Gross profit
$42.6B
Revenue
$175.7B
Cost of revenue
$133.1B
Quarter-over-quarter change
+0.3 pts
Year-over-year change
+0.1 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jul 31, 2025 | $175.8B | $43.0B | $132.8B | 24.5% |
| Oct 31, 2025 | $177.8B | $43.1B | $134.7B | 24.2% |
| Jan 31, 2026 | $188.9B | $45.3B | $143.6B | 24.0% |
| Apr 30, 2026 | $175.7B | $42.6B | $133.1B | 24.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jan 31, 2026
+0.3 pts
Year-over-year change
Apr 30, 2025
+0.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improvement was associated with a smaller proportion of cost of revenue to total revenue, as cost of revenue decreased more than revenue sequentially and grew less than revenue year-over-year.
Compared with the prior quarter, revenue and gross profit were lower, but gross margin was higher. Compared with the same quarter a year ago, revenue and gross profit were higher, and gross margin was also higher.
Monitor the trend in cost of revenue relative to revenue, as this ratio has been a key factor in gross margin movements.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Walmart Inc. (WMT) | 24.3% |