Walmart Inc. Earnings Per Share Disclosure
| Fiscal Years Ended January 31, | ||||||||||||||||||||
| (Amounts in millions, except per share data) | 2026 | 2025 | 2024 | |||||||||||||||||
| Numerator | ||||||||||||||||||||
| Consolidated net income | $ | 22,270 | $ | 20,157 | $ | 16,270 | ||||||||||||||
| Consolidated net income attributable to noncontrolling interest | (377) | (721) | (759) | |||||||||||||||||
| Consolidated net income attributable to Walmart | $ | 21,893 | $ | 19,436 | $ | 15,511 | ||||||||||||||
| Denominator | ||||||||||||||||||||
| Weighted-average common shares outstanding, basic | 7,983 | 8,041 | 8,077 | |||||||||||||||||
| Dilutive impact of share-based awards | 39 | 40 | 31 | |||||||||||||||||
| Weighted-average common shares outstanding, diluted | 8,022 | 8,081 | 8,108 | |||||||||||||||||
| Net income per common share attributable to Walmart | ||||||||||||||||||||
| Basic | $ | 2.74 | $ | 2.42 | $ | 1.92 | ||||||||||||||
| Diluted | 2.73 | 2.41 | 1.91 | |||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Mar 13, 2026 | Showing above |
| 2025 | Mar 14, 2025 | |
| 2024 | Mar 15, 2024 | |
| 2023 | Mar 17, 2023 | |
| 2022 | Mar 18, 2022 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.