Walmart delivered resilient top-line growth in QQ2 2025, with revenue of $169.335 billion, up 4.8% year over year (YoY) and up 4.85% quarter over quarter (QoQ). Gross profit reached $42.525 billion with a gross margin of 25.11%, while operating income rose to $7.94 billion (operating margin 4.69%). Net income declined to $4.501 billion, yielding a net margin of 2.66% and an EPS of $0.56 for the quarter. The company generated $12.108 billion of operating cash flow and $6.278 billion in free cash flow, funding a capex program of $5.831 billion and delivering shareholder-friendly cash returns. On the balance sheet, Walmart reported total assets of $254.44 billion and total liabilities of $163.67 billion, with total stockholders’ equity of $84.42 billion. Net debt stood at approximately $52.49 billion, and liquidity remains modest (current ratio 0.80, quick ratio 0.22, cash ratio 0.09). Management commentary in QQ2 2025 emphasized sustaining price leadership and investing in omnichannel capabilities, even as cost pressures and competitive dynamics compress margins in the near term. While revenue momentum is positive, the company faces a margin-shrinking backdrop that could temper earnings upside unless cost and mix improvements materialize.