Walgreens Boots AllianceWBAEarnings & Financial Report
Walgreens Boots Alliance, Inc. (WBA) was an American multinational holding company headquartered in Deerfield, Illinois. The company was formed on December 31, 2014, after Walgreens bought the 55% stake in Alliance Boots that it did not already own. The total price of the acquisition was $4.9 billion in cash and 144.3 million common shares with fair value of $10.7 billion. Walgreens had previously purchased 45% of the company for $4.0 billion and 83.
Revenue
$37.1B
Gross Profit
$7.0B
Operating Profit
$-13.2B
Net Profit
$-5.9B
Gross Margin
19.0%
Operating Margin
-35.5%
Net Margin
-15.9%
YoY Growth
6.3%
EPS
$-6.85
Walgreens Boots Alliance Q2 FY2024 Financial Summary
Walgreens Boots Alliance reported revenue of $37.1B (up 6.3% YoY) for Q2 FY2024, with a net profit of $-5.9B (down 940.4% YoY) (-15.9% margin). Cost of goods sold was $30.0B, operating expenses totaled $20.2B.
Key Financial Metrics
| Total Revenue | $37.1B |
|---|---|
| Net Profit | $-5.9B |
| Gross Margin | 19.0% |
| Operating Margin | -35.5% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
Walgreens Boots Alliance Q2 FY2024 revenue of $37.1B breaks down across 4 segments, led by Pharmacy at $21.5B (58.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Pharmacy | $21.5B | 58.0% |
| Retail | $7.4B | 19.8% |
| International Reportable Segment | $6.0B | 16.3% |
| US Healthcare | $2.2B | 5.9% |
Walgreens Boots Alliance Revenue by Segment — Quarterly Trend
Walgreens Boots Alliance revenue by segment across the last 4 reported quarters, showing how each business line (such as Pharmacy and Retail) has evolved quarter over quarter.
| Segment | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|
| Pharmacy | $24.4B | $23.4B | $24.7B | $23.2B |
| Retail | $6.3B | $6.9B | $6.2B | $6.3B |
| International Reportable Segment | $6.2B | $6.1B | $6.4B | $6.0B |
| US Healthcare | $2.1B | $2.2B | $2.2B | $2.1B |
Walgreens Boots Alliance Annual Revenue by Year
Walgreens Boots Alliance annual revenue history includes year-by-year totals (for example, 2024 revenue was $147.7B).
| Year | Annual Revenue |
|---|---|
| 2024 | $147.7B |
| 2023 | $139.1B |
| 2022 | $132.7B |
Walgreens Boots Alliance Quarterly Revenue & Net Profit History
Walgreens Boots Alliance results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q3 FY2025 | $39.0B | +7.2% | $-175.0M | -0.4% |
| Q2 FY2025 | $38.6B | +4.1% | $-2.9B | -7.4% |
| Q1 FY2025 | $39.5B | +7.5% | $-265.0M | -0.7% |
| Q4 FY2024 | $37.5B | +6.0% | $-3.0B | -8.0% |
| Q3 FY2024 | $36.4B | +2.6% | $344.0M | 0.9% |
| Q2 FY2024 | $37.1B | +6.3% | $-5.9B | -15.9% |
| Q1 FY2024 | $36.7B | +10.0% | $-67.0M | -0.2% |
| Q4 FY2023 | $35.4B | +9.2% | $-180.0M | -0.5% |
Income Statement
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $35.42B | $36.71B | $37.05B | $36.35B | $37.55B | $39.46B | $38.59B | $38.99B |
| YoY Growth | 9.2% | 10.0% | 6.3% | 2.6% | 6.0% | 7.5% | 4.1% | 7.2% |
Balance Sheet
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $96.63B | $97.82B | $84.21B | $82.98B | $81.04B | $78.54B | $70.22B | $69.41B |
| Liabilities | $68.14B | $70.07B | $68.84B | $67.56B | $68.86B | $67.27B | $62.96B | $62.09B |
| Equity | $20.02B | $19.48B | $13.48B | $13.64B | $10.45B | $9.94B | $7.11B | $7.18B |
Cash Flow
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $1.04B | $-281.0M | $-637.0M | $604.0M | $1.33B | $-140.0M | $-199.0M | $584.0M |