Walmart Inc.

NYSE-WMT

Operating Activities	Oct '25	Jul '25	Apr '25	Jan '25	Oct '24	Jul '24
Net Income	6,088	7,151	4,639	5,425	4,714	4,711
Depreciation & Amortization	3,606	3,487	3,369	3,374	3,260	3,211
Depreciation and Amortization
Other Adjustments	308	-121	976	1,038	953	1,171
Investment Gains and Losses, Net
Gains and Losses for Disposal of Business Operations
Asda Pension Contribution
Deferred Income Taxes
Loss on Extinguishment of Debt
Other Operating Activities
Changes in Trade Receivables	-1,723	-673	268	289	-1,475	234
Receivables, Net
Changes in Inventories	-7,562	148	-807	6,445	-7,966	-705
Inventories
Changes in Accounts Payable	5,975	1,612	-310	-4,178	6,240	953
Accounts Payable
Changes in Accrued Expenses	2,347	2,174	-3,627	1,186	603	3,239
Accrued Liabilities
Changes in Income Taxes Payable	61	-837	903	-54	232	-706
Accrued Income Taxes
Cash from Operating Activities	9,100	12,941	5,411	13,525	6,561	12,108
Net Cash Provided by Operating Activities

Investing Activities	Oct '25	Jul '25	Apr '25	Jan '25	Oct '24	Jul '24
Capital Expenditure	-7,218	-6,423	-4,986	-7,087	-6,189	-5,831
Payments for Property and Equipment
Proceeds from Sale of Property, Plant & Equipment	28	16	25	74	66	220
Proceeds from Disposal of Property and Equipment
Purchases of Investments	—	—	—	—	—	—
Purchase of Available for Sale Securities
Proceeds from Sale of Investments	24	775	—	-3,813	3,664	149
Proceeds from Disposal of Certain Strategic Investments
Payments for Business Acquisitions	—	—	—	-1,896	-948	—
Payments for Business Acquisitions, Net of Cash Acquired
Proceeds from Business Divestments	—	—	—	4,078.5	2,037	3
Proceeds from Disposal of Certain Operations, Net of Divested Cash
Proceeds from Disposal of Certain Operations
Other Investing Activities	-665	-474	-132	-76	-74	-257
Other Investing Activities
Cash from Investing Activities	-7,831	-6,106	-5,093	-8,718	-2,533	-5,719
Net Cash Provided by Investing Activities

Financing Activities	Oct '25	Jul '25	Apr '25	Jan '25	Oct '24	Jul '24
Net Issuance / (Repayments) of Short-Term Debt	4,554	-1,762	2,521	-468	365	-2,270
Net Change in Short-Term Borrowings
Issuance of Long-Term Debt	—	1,991.5	3,983	—	—	—
Proceeds from Issuance of Long-Term Debt
Repayments of Long-Term Debt	-1,750	-875	—	-651	-325.5	-1,243
Repayments of Long-Term Debt
Net Issuance / (Repayments) of Long-Term Debt	-1,750	1,116.5	3,983	-651	-325.5	-1,243
Repurchases of Common Shares	-808	-1,645	-4,555	-1,445	-977	-1,013
Purchase of Company Stock
Net Issuance / (Repurchases) of Common Shares	-808	-1,645	-4,555	-1,445	-977	-1,013
Common Share Dividends Paid	-1,875	-1,875	-1,880	-1,684	-1,668	-1,665
Dividends Paid
Other Financing Activities	-140	-844	-61	-901	-448	-433
Premiums Paid to Extinguish Debt
Dividends Paid to Noncontrolling Interest
Purchase of Noncontrolling Interest
Sale of Subsidiary Stock
Other Financing Activities
Cash from Financing Activities	-19	-7,001	8	-5,149	-2,728	-6,624
Net Cash Provided by Financing Activities

Free Cash Flow	Oct '25	Jul '25	Apr '25	Jan '25	Oct '24	Jul '24
Free Cash Flow	1,882	6,518	425	6,438	372	6,277
NOPAT	4,979.9	5,591	5,522.1	6,123.1	5,185.6	6,020.5
Levered Free Cash Flow	6,156	6,541.5	5,533	3,821	796.5	1,149
Unlevered Free Cash Flow	2,188.9	5,752	64.1	5,809.1	1,365.6	6,181.5
Net Change in Cash	1,250	-166	326	-342	1,300	-235