Cover and table of contents

8K characters. Original on sec.gov · Markdown

Cover and table of contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

For the quarterly period ended October 31, 2025.

or

☐Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the transition period from to .

Commission File Number 001-06991

Walmart Inc.

(Exact name of registrant as specified in its charter)

Delaware71-0415188
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
1 Customer Drive72716
BentonvilleAR
(Address of principal executive offices)(Zip Code)

Registrant's telephone number, including area code: (479) 273-4000

Former name, former address and former fiscal year, if changed since last report: N/A

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.10 per shareWMTNew York Stock Exchange
2.550% Notes due 2026WMT26New York Stock Exchange
1.050% Notes due 2026WMT26ANew York Stock Exchange
1.500% Notes due 2028WMT28CNew York Stock Exchange
4.875% Notes due 2029WMT29BNew York Stock Exchange
5.750% Notes due 2030WMT30BNew York Stock Exchange
1.800% Notes due 2031WMT31ANew York Stock Exchange
5.625% Notes due 2034WMT34New York Stock Exchange
5.250% Notes due 2035WMT35ANew York Stock Exchange
4.875% Notes due 2039WMT39New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or such shorter periods that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer☒Accelerated Filer☐
Non-Accelerated Filer☐Smaller Reporting Company☐
Emerging Growth Company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by a check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

The registrant had 7,970,166,964 shares of common stock outstanding as of December 2, 2025.

Walmart Inc.

Form 10-Q

For the Quarterly Period Ended October 31, 2025

Table of Contents

Page
Part I. Financial Information
Item 1. Financial Statements
Condensed Consolidated Statements of Income3
Condensed Consolidated Statements of Comprehensive Income4
Condensed Consolidated Balance Sheets5
Condensed Consolidated Statements of Shareholders' Equity6
Condensed Consolidated Statements of Cash Flows8
Notes to Condensed Consolidated Financial Statements9
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations19
Item 3. Quantitative and Qualitative Disclosures About Market Risk29
Item 4. Controls and Procedures30
Part II. Other Information
Item 1. Legal Proceedings31
Item 1A. Risk Factors31
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds32
Item 5. Other Information32
Item 6. Exhibits36
Signatures37

PART I. FINANCIAL INFORMATION

Next: Item 1. Financial Statements