Walmart Inc. (WMT) - Rapport boursier

Walmart Inc. is a mass retailer that sells everyday goods—groceries, general merchandise, and services—through stores, websites, and mobile apps to families looking for low prices and convenience. Shoppers pay mainly for merchandise. Members pay membership fees at Sam's Club, and businesses pay Walmart for advertising, marketplace, and fulfillment services. The company runs three parts: Walmart U.S., Walmart International, and Sam's Club U.S. In fiscal year 2026 it generated $713.2 billion of total revenue, with Walmart U.S. the largest at $483 billion of net sales. Its edge is scale: one connected network handling everything from a grocery run to same-day digital delivery.

In the first quarter of fiscal year 2027, global eCommerce sales rose 26%, advertising rose 37%, and membership-fee revenue rose 17.4%—all far above the 7.3% total revenue growth to $177.8 billion. These higher-margin activities layer new ways to earn money on top of selling merchandise, so over time they could lift profit by more than sales growth alone.

Operating income rose only 5%, below revenue growth, and operating margin slipped from 4.4% to 4.3%. Higher fuel costs in distribution alone cut operating-income growth by 2.5 percentage points, showing that rising costs are currently absorbing the benefit of the faster digital growth.