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Walmart reports strong revenue of 4.1%, up 5.3% in constant currency (cc) with operating income growing faster at 8.3%, or 9.4% adjusted (cc)

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Walmart (NYSE: WMT) reported strong Q4 FY25 results with revenue reaching $180.6 billion, up 4.1% (5.3% in constant currency). The company demonstrated robust performance with operating income increasing 8.3%, or 9.4% adjusted in constant currency, driven by higher gross margins and growth in membership income.

Key highlights include a 16% growth in global eCommerce sales, particularly in store-fulfilled pickup & delivery and U.S. marketplace, despite timing impacts from Flipkart's Big Billion Days event. The global advertising business showed impressive growth of 29%, with Walmart Connect in the U.S. growing 24%.

For the full year, revenue reached $681.0 billion, up 5.1% (5.6% in constant currency), with the global advertising business growing 27% to $4.4 billion. The company announced a significant 13% dividend increase to $0.94 per share, marking the largest increase in over a decade. Walmart also completed the acquisition of VIZIO and maintained healthy inventory levels with a 2.8% global increase.

Walmart (NYSE: WMT) ha riportato risultati solidi per il quarto trimestre dell'anno fiscale 25, con ricavi che hanno raggiunto 180,6 miliardi di dollari, in aumento del 4,1% (5,3% a cambi costanti). L'azienda ha dimostrato una performance robusta con un aumento dell'utile operativo dell'8,3%, o del 9,4% rettificato a cambi costanti, sostenuto da margini lordi più elevati e crescita dei redditi da abbonamento.

I punti salienti includono una crescita del 16% nelle vendite globali di eCommerce, in particolare nel ritiro e nella consegna in negozio e nel mercato statunitense, nonostante gli impatti temporali derivanti dall'evento Big Billion Days di Flipkart. Il business pubblicitario globale ha mostrato una crescita impressionante del 29%, con Walmart Connect negli Stati Uniti in crescita del 24%.

Per l'intero anno, i ricavi hanno raggiunto 681,0 miliardi di dollari, in aumento del 5,1% (5,6% a cambi costanti), con il business pubblicitario globale in crescita del 27% a 4,4 miliardi di dollari. L'azienda ha annunciato un significativo aumento del dividendo del 13% a 0,94 dollari per azione, segnando il più grande aumento in oltre un decennio. Walmart ha anche completato l'acquisizione di VIZIO e ha mantenuto livelli di inventario sani con un aumento globale del 2,8%.

Walmart (NYSE: WMT) reportó sólidos resultados para el cuarto trimestre del año fiscal 25, con ingresos alcanzando 180.6 mil millones de dólares, un aumento del 4.1% (5.3% en moneda constante). La compañía demostró un rendimiento robusto con un aumento del ingreso operativo del 8.3%, o del 9.4% ajustado en moneda constante, impulsado por márgenes brutos más altos y crecimiento en los ingresos por membresía.

Los puntos destacados incluyen un crecimiento del 16% en las ventas globales de eCommerce, particularmente en la recogida y entrega en tienda y el mercado estadounidense, a pesar de los impactos temporales del evento Big Billion Days de Flipkart. El negocio publicitario global mostró un impresionante crecimiento del 29%, con Walmart Connect en EE. UU. creciendo un 24%.

Para el año completo, los ingresos alcanzaron 681.0 mil millones de dólares, un aumento del 5.1% (5.6% en moneda constante), con el negocio publicitario global creciendo un 27% a 4.4 mil millones de dólares. La compañía anunció un aumento significativo del dividendo del 13% a 0.94 dólares por acción, marcando el mayor aumento en más de una década. Walmart también completó la adquisición de VIZIO y mantuvo niveles saludables de inventario con un aumento global del 2.8%.

월마트 (NYSE: WMT)는 2025 회계연도 4분기 실적을 발표하며 수익이 1,806억 달러에 달했으며, 이는 4.1% 증가한 수치입니다(상수 통화 기준 5.3%). 이 회사는 더 높은 총 이익률과 멤버십 수익의 증가에 힘입어 운영 소득이 8.3% 증가하고, 상수 통화 기준으로 조정 시 9.4% 증가하는 강력한 성과를 보여주었습니다.

주요 하이라이트로는 글로벌 전자상거래 매출이 16% 성장했으며, 특히 매장 픽업 및 배달 서비스와 미국 마켓플레이스에서 두드러진 성과를 보였습니다. 이는 Flipkart의 Big Billion Days 이벤트로 인한 시간적 영향에도 불구하고 이루어진 성과입니다. 글로벌 광고 사업은 29%의 인상적인 성장을 보였으며, 미국 내 Walmart Connect는 24% 성장했습니다.

전체 연도 기준으로 수익은 6,810억 달러에 달하며, 이는 5.1% 증가한 수치입니다(상수 통화 기준 5.6%). 글로벌 광고 사업은 27% 성장하여 44억 달러에 이르렀습니다. 이 회사는 1주당 0.94달러의 배당금을 13% 인상한다고 발표하며, 10년 이상 만에 가장 큰 인상폭을 기록했습니다. 월마트는 VIZIO 인수를 완료하고, 2.8%의 글로벌 재고 증가율을 유지하며 건강한 재고 수준을 유지했습니다.

Walmart (NYSE: WMT) a annoncé de solides résultats pour le quatrième trimestre de l'exercice 25, avec un chiffre d'affaires atteignant 180,6 milliards de dollars, en hausse de 4,1% (5,3% à taux de change constant). L'entreprise a montré une performance robuste avec un bénéfice d'exploitation en hausse de 8,3%, ou de 9,4% ajusté en monnaie constante, soutenu par des marges brutes plus élevées et une croissance des revenus d'adhésion.

Les points forts incluent une croissance de 16% des ventes mondiales de eCommerce, en particulier dans le retrait et la livraison en magasin ainsi que sur le marché américain, malgré les impacts temporels de l'événement Big Billion Days de Flipkart. L'activité publicitaire mondiale a montré une croissance impressionnante de 29%, avec Walmart Connect aux États-Unis en hausse de 24%.

Pour l'année entière, le chiffre d'affaires a atteint 681,0 milliards de dollars, en hausse de 5,1% (5,6% à taux de change constant), l'activité publicitaire mondiale ayant augmenté de 27% pour atteindre 4,4 milliards de dollars. L'entreprise a annoncé une augmentation significative du dividende de 13% à 0,94 dollar par action, marquant la plus grande augmentation en plus d'une décennie. Walmart a également finalisé l'acquisition de VIZIO et maintenu des niveaux de stocks sains avec une augmentation mondiale de 2,8%.

Walmart (NYSE: WMT) hat starke Ergebnisse für das vierte Quartal des Geschäftsjahres 25 veröffentlicht, mit einem Umsatz von 180,6 Milliarden Dollar, was einem Anstieg von 4,1% (5,3% in konstanten Währungen) entspricht. Das Unternehmen zeigte eine robuste Leistung mit einem Anstieg des Betriebsergebnisses um 8,3%, oder 9,4% bereinigt in konstanten Währungen, unterstützt durch höhere Bruttomargen und ein Wachstum der Mitgliedschaftseinnahmen.

Zu den wichtigsten Highlights gehören ein Wachstum von 16% im globalen eCommerce-Verkauf, insbesondere bei der Abholung und Lieferung im Geschäft sowie im US-Marktplatz, trotz zeitlicher Auswirkungen des Big Billion Days-Events von Flipkart. Das globale Werbegeschäft zeigte ein beeindruckendes Wachstum von 29%, wobei Walmart Connect in den USA um 24% wuchs.

Für das gesamte Jahr erreichte der Umsatz 681,0 Milliarden Dollar, was einem Anstieg von 5,1% (5,6% in konstanten Währungen) entspricht, während das globale Werbegeschäft um 27% auf 4,4 Milliarden Dollar wuchs. Das Unternehmen kündigte eine signifikante Erhöhung der Dividende um 13% auf 0,94 Dollar pro Aktie an, was die größte Erhöhung seit über einem Jahrzehnt markiert. Walmart hat außerdem die Übernahme von VIZIO abgeschlossen und gesunde Lagerbestände mit einem globalen Anstieg von 2,8% beibehalten.

Positive
  • Revenue increased 4.1% to $180.6 billion in Q4
  • Operating income grew 8.3% ($0.6 billion increase)
  • Global eCommerce sales up 16%
  • Global advertising business grew 29%
  • Full-year revenue up 5.1% to $681.0 billion
  • 13% dividend increase to $0.94 per share
  • ROI improved 50 basis points to 15.5%
Negative
  • Global inventory levels up 2.8%
  • eCommerce growth negatively affected by Flipkart's BBD sales event timing

Insights

Walmart's Q4 results reveal a company successfully executing its omnichannel strategy while maintaining profitability. The 16% eCommerce growth, primarily driven by store-fulfilled pickup and delivery, demonstrates the effectiveness of leveraging physical stores as fulfillment centers - a key competitive advantage over pure-play online retailers.

The 29% growth in global advertising business, reaching $4.4 billion annually, represents a significant high-margin revenue stream that's becoming increasingly important to overall profitability. This advertising growth, particularly the 24% increase in Walmart Connect, indicates successful monetization of the company's vast customer data and digital footprint.

Operating income growing faster than revenue (8.3% vs 4.1%) suggests improving operational efficiency and successful cost management. The 53 basis point gross margin expansion, despite inflationary pressures, reflects strong pricing power and supply chain optimization.

Inventory management remains disciplined with only 2.8% growth globally, while maintaining healthy in-stock levels. This controlled inventory growth, combined with improved ROI of 15.5% (up 50 basis points), indicates efficient working capital management and effective investment in growth initiatives.

The 13% dividend increase - the largest in over a decade - signals management's confidence in sustainable cash flow generation and long-term growth prospects. This substantial increase, combined with strong operational metrics and the strategic VIZIO acquisition, positions Walmart well for continued market leadership in the evolving retail landscape.

eCommerce up 16% globally

GAAP EPS of $0.65; Adjusted EPS of $0.66

Company provides outlook for Q1 and FY26

BENTONVILLE, Ark.--(BUSINESS WIRE)-- Walmart Inc. (NYSE: WMT):

Fourth Quarter Highlights:

  • Revenue of $180.6 billion, up 4.1%, or 5.3% (cc)
  • Gross margin rate up 53 bps, led by Walmart U.S.
  • Operating income up $0.6 billion, or 8.3%, adjusted up 9.4% (cc) due to higher gross margins and growth in membership income; also benefited from improved economics in eCommerce
  • Global eCommerce sales grew 16%, led by store fulfilled pickup & delivery and U.S. marketplace; growth negatively affected by timing of Flipkart’s Big Billion Days sales event (“BBD”)
  • Global advertising business grew 29%, including 24% for Walmart Connect in the U.S.
  • Adjusted EPS of $0.66 excludes the effect, net of tax, from a net loss of $0.02 on equity and other investments as well as $0.01 from the proceeds of an opioid-related legal settlement
  • Completed acquisition of VIZIO

Full Year Highlights:

  • Revenue of $681.0 billion, up 5.1%, or 5.6% (cc)
  • Global advertising business grew 27% to reach $4.4 billion
  • Operating income up $2.3 billion or 8.6%; adjusted up 9.7% (cc), growing faster than sales
  • ROA at 7.9%; ROI at 15.5%, up 50 bps
  • Global inventory up 2.8%, including an increase of 3.0% for Walmart U.S.; in-stock levels healthy
  • Company raises dividend 13% to $0.94 per share; largest increase in over a decade

The company will hold a live conference call with the Investment Community at 7 a.m. CST Thursday, February 20th, 2025, to discuss the company’s fourth quarter and full-year earnings results for fiscal year 2025. The event will be webcast live and is accessible by visiting https://corporate.walmart.com/news/events and selecting the Fourth Quarter Earnings Release event. The webcast will be archived and available on the company website.

About Walmart

Walmart Inc. (NYSE: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better - anytime and anywhere - in stores, online, and through their mobile devices. Each week, approximately 270 million customers and members visit more than 10,750 stores and numerous eCommerce websites in 19 countries. With fiscal year 2025 revenue of $681 billion, Walmart employs approximately 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart, on X (formerly known as Twitter) at twitter.com/walmart, and on LinkedIn at linkedin.com/company/walmart.

Investor Relations Contacts

Steph Wissink

Senior Vice President, Investor Relations

ir@walmart.com

Kary Brunner

Sr. Director, Investor Relations

Media Relations Contact

Molly Blakeman

Group Director, Global Communications

800-331-0085

Source: Walmart Inc.

FAQ

What was Walmart's (WMT) Q4 2025 revenue growth?

Walmart reported Q4 2025 revenue growth of 4.1%, reaching $180.6 billion, or 5.3% in constant currency.

How much did Walmart's (WMT) global eCommerce sales grow in Q4 2025?

Walmart's global eCommerce sales grew 16% in Q4 2025, driven by store-fulfilled pickup & delivery and U.S. marketplace growth.

What is Walmart's (WMT) new dividend payment for 2025?

Walmart increased its dividend by 13% to $0.94 per share, representing the largest increase in over a decade.

How much did Walmart's (WMT) advertising business grow in FY 2025?

Walmart's global advertising business grew 27% in FY 2025, reaching $4.4 billion, with Walmart Connect in the U.S. growing 24% in Q4.

What was Walmart's (WMT) operating income growth in Q4 2025?

Walmart's operating income increased by $0.6 billion or 8.3%, with adjusted growth of 9.4% in constant currency.

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