Consumer Staples
Merchandise, branded goods and beverage volumes
Walmart, P&G and Coca-Cola have distinct revenue presentations. Membership income, consumer-product sales and concentrate or beverage activity produce different relationships between revenue, volume and costs.
The reporting context
Walmart, P&G and Coca-Cola have distinct revenue presentations. Membership income, consumer-product sales and concentrate or beverage activity produce different relationships between revenue, volume and costs.
Reported observations
Walmart Inc. (WMT) — Q2 FY2027, ended 2026-07-31, released 2026-08-20: Net sales 186,100 USD million; Membership and other income 1,837 USD million; Total revenue 187,937 USD million. The Procter & Gamble Company (PG) — Q1 FY2027, ended 2026-09-30, released 2026-10-22: Net sales 23,276 USD million; Cost of products sold 11,678 USD million; Gross profit 11,598 USD million. The Coca-Cola Company (KO) — Q3 2026, ended 2026-10-02, released 2026-10-27: Net revenue 13,400 USD million; Operating margin 33.4 percent; Diluted EPS 0.93 USD/share.
Interpretation
Read the scope of each operating metric. Comparable sales, organic growth, price/mix and unit case volume use different populations or assumptions. Gross profit on merchandise sales plus membership and other income, less operating expense, reconciles to operating income. Omitting the extra income line would make the reconciliation appear to fail. Reported revenue and constant-currency growth are different presentations of the same quarter. Sales growth is measured against a prior revenue base; free-cash-flow productivity uses net earnings as its denominator. The cash measure is sensitive to collection and payment timing. Core EPS also removes specified expenses and should remain distinct from the reported per-share result. The company reports volume using an average-daily-sales convention and separately explains price, mix and concentrate-shipment timing. Those measures should not be added indiscriminately into an exact revenue formula. The highlighted cash-flow amounts are year to date, unlike the quarterly margin.
What the comparison does not establish
The sample mixes fiscal year labels and quarter closing dates. Currency, acquisitions and shipment timing also affect period comparisons.
Data method
This edition uses the latest quarterly earnings results located in official sources as of November 15, 2026. Each company page shows its own period end and release date, selected metrics, units and accounting basis. Amounts shown as rounded remain rounded. Analysis is editorial interpretation of the linked disclosures, not issuer guidance, price forecasts or personalized advice.