Walmart vs Target Business Model (2026)
Walmart earns most from Walmart U.S. (68.1%), while Target earns most from Food and beverage (23.0%). Computed from Walmart 10-K FY2026 and Target 10-K FY2025.
Last checked 2026-10-18 on the official pages.
Walmart
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Walmart U.S. | $485,599 million ($485.6 billion) | 68.1% | 10-K FY2026 ↗ |
| Walmart International | $131,988 million ($132.0 billion) | 18.5% | 10-K FY2026 ↗ |
| Sam’s Club U.S. | $95,540 million ($95.5 billion) | 13.4% | 10-K FY2026 ↗ |
| Total revenue | $713,163 million ($713.2 billion) | — | 10-K FY2026 ↗ |
Target
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Apparel & accessories | $15,737 million ($15.7 billion) | 15.0% | 10-K FY2025 ↗ |
| Beauty | $13,214 million ($13.2 billion) | 12.6% | 10-K FY2025 ↗ |
| Food and beverage | $24,136 million ($24.1 billion) | 23.0% | 10-K FY2025 ↗ |
| Hardlines | $15,800 million ($15.8 billion) | 15.1% | 10-K FY2025 ↗ |
| Home furnishings & décor | $15,608 million ($15.6 billion) | 14.9% | 10-K FY2025 ↗ |
| Household essentials | $18,017 million ($18.0 billion) | 17.2% | 10-K FY2025 ↗ |
| Other merchandise | $205 million | 0.2% | 10-K FY2025 ↗ |
| Advertising | $915 million | 0.9% | 10-K FY2025 ↗ |
| Credit card profit sharing | $522 million | 0.5% | 10-K FY2025 ↗ |
| Other revenue | $626 million | 0.6% | 10-K FY2025 ↗ |
| Total revenue | $104,780 million ($104.8 billion) | — | 10-K FY2025 ↗ |
Shared business models
Company and model pages
Walmart: Membership warehouse · Retail margin
Target: Retail margin
Frequently asked questions
How does Walmart make money?
Walmart makes money mainly from Walmart U.S.. Its FY2026 total revenue was $713,163 million ($713.2 billion), with Walmart U.S. the biggest disclosed revenue line at $485,599 million ($485.6 billion) and 68.1% of total revenue (computed from the 10-K FY2026). Walmart supplements its retail business with fees from membership offerings.
How does Target make money?
Target makes money mainly from Food and beverage. Its FY2025 total revenue was $104,780 million ($104.8 billion), with Food and beverage the biggest disclosed revenue line at $24,136 million ($24.1 billion) and 23.0% of total revenue (computed from the 10-K FY2025). Target supplements merchandise sales with advertising and credit card profit-sharing income.