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Costco Wholesale vs Walmart: revenue, profit, margins and growth compared

Costco Wholesale brought in $275.2B of revenue in fiscal 2025, Walmart $713.2B in fiscal 2026. Revenue changed by +8.2% at Costco Wholesale and +4.7% at Walmart on the year before, so Costco Wholesale grew faster. Costco Wholesale kept 2.9% of its revenue as net profit, Walmart 3.1%. Free cash flow was $7.8B at Costco Wholesale and $14.9B at Walmart.

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Side by side, latest fiscal year

COSTWMT
Fiscal year endedFY2025 (August 31, 2025)FY2026 (January 31, 2026)
Revenue$275.2B$713.2B
Revenue growth+8.2%+4.7%
Net income$8.1B$21.9B
Net margin2.9%3.1%
Free cash flow$7.8B$14.9B
Free cash flow margin2.8%2.1%
Earnings per share (diluted)$18.21$2.73
Cash$14.2B$10.7B
Debt$5.8B$38.2B
Price to earnings50.739.5
Market value$409.2B$859.3B
Dividend yield0.53%0.87%
Rank by revenue in sector#3 of 778 · Consumer discretionary#2 of 778 · Consumer discretionary

Over the years

Revenue
COST FY2018: $141.6BCOST FY2019: $152.7BCOST FY2020: $166.8BCOST FY2021: $195.9BCOST FY2022: $227BCOST FY2023: $242.3BCOST FY2024: $254.5BCOST FY2025: $275.2BWMT FY2019: $514.4BWMT FY2020: $524BWMT FY2021: $559.2BWMT FY2022: $572.8BWMT FY2023: $611.3BWMT FY2024: $648.1BWMT FY2025: $681BWMT FY2026: $713.2BFY18FY19FY20FY21FY22FY23FY24FY25FY26
COST $275.2BWMT $713.2B
Net income
COST FY2018: $3.1BCOST FY2019: $3.7BCOST FY2020: $4BCOST FY2021: $5BCOST FY2022: $5.8BCOST FY2023: $6.3BCOST FY2024: $7.4BCOST FY2025: $8.1BWMT FY2019: $6.7BWMT FY2020: $14.9BWMT FY2021: $13.5BWMT FY2022: $13.7BWMT FY2023: $11.7BWMT FY2024: $15.5BWMT FY2025: $19.4BWMT FY2026: $21.9BFY18FY19FY20FY21FY22FY23FY24FY25FY26
COST $8.1BWMT $21.9B
Net margin
COST FY2018: 2.2%COST FY2019: 2.4%COST FY2020: 2.4%COST FY2021: 2.6%COST FY2022: 2.6%COST FY2023: 2.6%COST FY2024: 2.9%COST FY2025: 2.9%WMT FY2019: 1.3%WMT FY2020: 2.8%WMT FY2021: 2.4%WMT FY2022: 2.4%WMT FY2023: 1.9%WMT FY2024: 2.4%WMT FY2025: 2.9%WMT FY2026: 3.1%FY18FY19FY20FY21FY22FY23FY24FY25FY26
COST 2.9%WMT 3.1%
Revenue growth
COST FY2019: +7.9%COST FY2020: +9.2%COST FY2021: +17.5%COST FY2022: +15.8%COST FY2023: +6.8%COST FY2024: +5.0%COST FY2025: +8.2%WMT FY2020: +1.9%WMT FY2021: +6.7%WMT FY2022: +2.4%WMT FY2023: +6.7%WMT FY2024: +6.0%WMT FY2025: +5.1%WMT FY2026: +4.7%FY19FY20FY21FY22FY23FY24FY25FY26
COST +8.2%WMT +4.7%
Free cash flow
COST FY2018: $2.8BCOST FY2019: $3.4BCOST FY2020: $6.1BCOST FY2021: $5.4BCOST FY2022: $3.5BCOST FY2023: $6.7BCOST FY2024: $6.6BCOST FY2025: $7.8BWMT FY2019: $17.4BWMT FY2020: $14.6BWMT FY2021: $25.8BWMT FY2022: $11.1BWMT FY2023: $12BWMT FY2024: $15.1BWMT FY2025: $12.7BWMT FY2026: $14.9BFY18FY19FY20FY21FY22FY23FY24FY25FY26
COST $7.8BWMT $14.9B

Fiscal years as each company reports them; the two may end in different months.

Questions about Costco Wholesale and Walmart

Which is bigger by revenue, Costco Wholesale or Walmart?

Walmart is bigger by revenue: $713.2B in fiscal 2026, against $275.2B for Costco Wholesale in fiscal 2025.

Which keeps more of its revenue as profit, Costco Wholesale or Walmart?

Costco Wholesale had a net margin of 2.9% in fiscal 2025; Walmart had 3.1% in fiscal 2026.

Which grew revenue faster, Costco Wholesale or Walmart?

In their latest fiscal years revenue changed by +8.2% at Costco Wholesale and +4.7% at Walmart.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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