Direct Answer
Walmart reports revenue across 3 business segments in its fiscal 2026 Form 10-K. Walmart US is the largest, with $486 billion of revenue (68% of the total), followed by Walmart International at $132 billion (19%). 81% of revenue came from the United States.
How Does Walmart Make Money?
Walmart US supplies 68% of revenue, so Walmart's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2025 and 2026, Walmart International grew fastest (+7.0%) and Sams Club US slowest (+3.2%), so the revenue mix tilts toward Walmart International while that gap lasts.
| Segment | FY2026 revenue | FY2025 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Walmart US | $486 billion | $465 billion | 68.1% | 4.4% |
| Walmart International | $132 billion | $123 billion | 18.5% | 7.0% |
| Sams Club US | $95.5 billion | $92.6 billion | 13.4% | 3.2% |
Which Walmart Segments Earn the Most?
| Segment | FY2026 segment operating income | Segment margin |
|---|---|---|
| Walmart US | $25.2 billion | 5.2% |
| Walmart International | $5.1 billion | 3.9% |
| Sams Club US | $2.4 billion | 2.6% |
Segment operating income is the profit measure Walmart reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within Walmart more safely than against another company.
Where Does Walmart's Revenue Come From?
Regions follow the definitions in the filing; most companies assign revenue by customer location.
| Region | FY2026 revenue | FY2025 revenue | Share of revenue | Change |
|---|---|---|---|---|
| United States | $581 billion | $558 billion | 81.5% | 4.2% |
| Outside the United States | $132 billion | $123 billion | 18.5% | 7.0% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Walmart's reported revenue for fiscal 2026; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Walmart reported in the segment note and revenue disclosures of its Form 10-K filed March 13, 2026 (accession 0000104169-26-000055), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2026; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Walmart's business segments?
In its fiscal 2026 Form 10-K, Walmart reports revenue for Walmart US, Walmart International and Sams Club US.
Which part of Walmart brings in the most revenue?
Walmart US, with $486 billion of revenue in fiscal 2026, or 68% of the total.
How much of Walmart's revenue comes from outside the United States?
19% in fiscal 2026, by the geographic breakdown Walmart reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.