On this page of StockholderLetter.com we present the latest annual shareholder letter from Walmart Inc. — ticker symbol WMT. Reading current and past WMT letters to shareholders can bring important insights into the investment thesis.
Annual Report 2026
A message from our CEO Walmart is leading the next chapter of retail. We are at a pivotal moment, not just for our company, but for the industry, as artificial intelligence fundamentally reshapes how customers shop and how associates work. We are harnessing its power to enhance our business, guided by our foundational values of service, excellence, respect, and integrity. In this new era, our purpose positions us to set the standard making it a perfect time to be an omnichannel retailer dedicated to helping people save money and live better. John Furner President and Chief Executive Officer Walmart Inc. +4.7% +1.6% +30 bps $42B $150.4B +46% +15.5% ~$2B Revenues eCommerce Sales 1 John s letter Operating Income Advertising1 Returns Membership Fee Revenue Operating Cash Flow Global Giving2 Our global advertising business is recorded in either net sales or as a reduction to cost of sales, depending on the nature of the advertising arrangement. Total global giving includes cash donations made by Walmart Inc. & subsidiaries and related charitable entities, and estimated value of in-kind donations. 2
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WMT Shareholder/Stockholder Letter Transcript:

Annual Report
2026

A message from our CEO
   Walmart is leading the next chapter of retail. We are at a pivotal moment, not just for our company, but for the
industry, as artificial intelligence fundamentally reshapes how customers shop and how associates work. We
are harnessing its power to enhance our business, guided by our foundational values of service, excellence,
respect, and integrity. In this new era, our purpose positions us to set the standard     making it a perfect time
to be an omnichannel retailer dedicated to helping people save money and live better.   
John Furner
President and Chief Executive Officer
Walmart Inc.
+4.7%
+1.6%
+30 bps
$42B
$150.4B
+46%
+15.5%
~$2B
Revenues
eCommerce Sales
1
John   s letter
Operating Income
Advertising1
Returns
Membership Fee Revenue
Operating Cash Flow
Global Giving2
Our global advertising business is recorded in either net sales or as a reduction to cost of sales, depending on the nature of the advertising arrangement.
Total global giving includes cash donations made by Walmart Inc. & subsidiaries and related charitable entities, and estimated value of in-kind donations.
2


shareholder letter icon 4/23/2026 Letter Continued (Full PDF)
 

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