WMT · 10-Q · 2026Q3 · Full report

Income Tax Rate Changes

Walmart Inc. · 2026-08-28 · Importance 30 · Surprise 40

The effective income tax rate declined to 18.5% in the quarter ended July 31, 2026 from 23.3% in the prior-year quarter. The six-month effective tax rate decreased to 20.7% from 23.0%. Walmart attributed both reductions primarily to changes in unrecognized tax benefits. The lower quarterly rate helped offset other items, but consolidated net income still declined $0.6 billion to $6.5 billion because of investment losses and other factors.

Key facts

• The Company's effective income tax rate was 18.5% and 20.7% for the three and six months ended July 31, 2026, respectively, compared to 23.3% and 23.0% for the same periods in the previous fiscal year. source