Walmart Inc (NYSE: WMT) is a retail company that operates physical stores, membership warehouse clubs, and eCommerce platforms selling groceries, general merchandise, health and wellness products, and other goods. Revenue comes primarily from merchandise sales across its Walmart U.S., Sam's Club U.S., and Walmart International segments, supplemented by membership fees at Sam's Club. As of January 31, 2026, Walmart operated 10,955 retail units globally, including 4,611 Walmart U.S. locations, 601 Sam's Club U.S. clubs, and 5,743 Walmart International units across markets including Mexico, Canada, China, Chile, India, Africa, and Central America. Sam's Club charges annual membership fees of $50 (Club tier) or $110 (Plus tier). Walmart International generated approximately 19% of consolidated net sales in fiscal year 2026. John R. Furner serves as President and CEO, with John David Rainey as CFO, as of the 10-K filed March 13, 2026. Total assets stood at $284.7B as of January 31, 2026, with return on assets of 8.2% and return on investment of 15.1% for fiscal year 2026.

Revenue model

Transactional merchandise sales across physical stores and eCommerce platforms are the primary revenue driver. Sam's Club adds a recurring membership fee layer at $50 per year (Club) or $110 per year (Plus), with add-on memberships at $45 each. Members can earn Sam's Cash rewards redeemable for cash, purchases, or membership fees.

Products and services

Walmart U.S. operates Supercenters (3,566 units), Discount Stores (351 units), and Neighborhood Markets and small formats (694 units) as of the 10-K filed March 13, 2026. Sam's Club offers merchandise across four categories: Grocery (dairy, meat, bakery, deli, produce, packaged foods, beverages, snacks), along with general merchandise, health and wellness, and other offerings. Sam's Club Plus members receive free delivery-from-club, free shipping on orders of $50 or more, exclusive discounts, and early shopping hours. Omnichannel services include curbside pickup, Scan and Go mobile checkout, and the Just Go frictionless exit experience. Walmart also operates health and wellness services including pharmacy and optometry.

Customers and end markets

Walmart serves general consumers seeking everyday low prices on groceries and general merchandise. Sam's Club serves members who pay annual fees for bulk merchandise access and additional benefits. No material customer concentration is disclosed in the filing excerpts.

Value-chain role

Walmart is a large-scale retail buyer and distributor sourcing products from a broad base of domestic and international suppliers. It sells directly to end consumers through physical stores, clubs, and eCommerce platforms. Global sourcing is identified as a key factor in financial performance, with the company operating its own distribution facilities across the U.S.

Geographic exposure

Walmart U.S. and Sam's Club U.S. together operated 5,212 retail units as of the 10-K filed March 13, 2026. Walmart International operated 5,743 units across Africa, Canada, Central America, Chile, China, India, and Mexico, generating approximately 19% of consolidated net sales in fiscal year 2026.

Source: SEC 10-K, filed 2026-03-13

Industry: Retail-Variety Stores Peers: BJ's Wholesale Club Holdings Inc Costco Wholesale Corp PriceSmart Inc