Walmart Inc. (WMT)
Consumer Staples · Consumer Staples Merchandise Retail · US stock · S&P 500 component
$121.12
▲ +3.32 (2.82%)
Fair valueOvervalued
$97 −19.8% to fair value
$49fair band $83–$118$146
Day's range
$117.83 – $121.18
52-week range
$98.88 – $135.16
About Walmart Inc.
Walmart is the world's largest retailer by sales, operating supercenters, discount stores, warehouse clubs and e-commerce platforms in the United States and other countries. It sells groceries, general merchandise, electronics and household goods at low prices. Most revenue comes from retail sales, with smaller contributions from membership fees at Sam's Club, advertising, marketplace services and financial services.
The company pays a dividend with a yield of 0.8%. Looking at the numbers, trailing revenue is $735.8 billion, and it grew 5.3% a year over the past three years. Operating margin is 4.4%, while return on invested capital is 18%. Net debt to EBITDA is 0.8 times. Taken together, these figures give an X-Ray Score of 51 out of 100.
WMT news
All WMT news →Price chart
52-wk range $98.88 – $135.16Volume 28,314,309Daily, split-adjusted
Vitals
Market cap$966.3B
52-week range$98.88 – $135.16
Volume (last day)28,314,309
P/E (TTM)43.9
EBIT / EV yield3.2%
Free-cash-flow yield1.4%
Dividend yield0.8%
Revenue (TTM)$735.8B
Net income (TTM)$22.1B
Operating margin4.4%
Return on capital18.1%
Debt incl. leases$50.4B
Cash & securities$11.5B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$97middle half of models $97 – $111
Overvalued
−19.8% to fair value
Average of the 14 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $121
Undervalued < $83Fair $83 – $118Overvalued > $118
P/E multiple
$121
P/B multiple
$112
P/S multiple
$109
EV/EBITDA multiple
$107
EV/EBIT multiple
$105
EV/revenue multiple
$112
10-year DCF, EBITDA exit
$97
5-year DCF, EBITDA exit
$111
10-year DCF, revenue exit
$98
5-year DCF, revenue exit
$111
10-year DCF, growth exit · not used
$46
5-year DCF, growth exit
$50
Dividend discount, stable
$53
Dividend discount, multi-stage
$106
Earnings power value
$68
Growth the price implies
22.6%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, priced high
Our models put fair value below today's price, so a lot of good news may already be in the price. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Consumer Staples peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
7/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.2%
Free-cash-flow yield1.4%
Fair value vs price0.8×
Growth
Strong
76/100
Growing faster than most of its sector.
See the numbers →
Revenue growth (3y)5.3%
EPS growth (3y)24.3%
Growth consistency100%
Profitability
Strong
70/100
Earns high returns on the capital it uses.
See the numbers →
Return on invested capital18.1%
Operating margin4.4%
Gross profitability63.2%
Financial health
Fair
54/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA0.8×
Interest cover17.4×
Dividends
Fair
52/100
Dividend is typical for its sector.
See the numbers →
Dividend yield0.8%
Dividends vs free cash flow58%
Dividend growth7.1%
Quarterly results: last 6 quarters
+2.5%
Apr '25
+4.8%
Jul '25
+5.8%
Oct '25
+5.6%
Jan '26
+7.3%
Apr '26
+5.9%
Jul '26
Revenue against the same quarter a year earlier. Latest quarter revenue $187.9B, diluted EPS $0.80.
Compare with peers
DLTR Dollar Tree, Inc.71 DG Dollar General Corp66 COST Costco Wholesale Corp56 TGT Target Corp55Other Consumer Staples Merchandise Retail companies by X-Ray Score.
SWOT analysis: Walmart Inc.
Strengthsinside the company
- Earnings per share have compounded at 24.3% a year over three years.
- Operating profit covers interest 17x, so debt costs are a small drag.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- Trades at 43.8x earnings, 154% above the 17.3x median of industry peers, so the price already assumes better results.
- The price is 20% above our fair value estimate, so there is little room for disappointment.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare WMT with peers and sector
Medians of 4 Consumer Staples Merchandise Retail peers and of 28 Consumer Staples stocks in our universe.
Largest peers (X-Ray Score): COST 56, TGT 55, DG 66, DLTR 71.
| Metric | WMT | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 51 | 61 | 50 |
| Valuation | 7 | 74 | 53 |
| Growth | 76 | 68 | 48 |
| Profitability | 70 | 64 | 51 |
| Financial health | 54 | 69 | 46 |
| Dividends | 52 | 51 | 50 |
Sector leaders: highest X-Ray Score in Consumer Staples
WMT ranks #14 of 29 in Consumer Staples and #5 of 5 in Consumer Staples Merchandise Retail by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for WMT
Each factor is rated by where WMT stands among the 29 Consumer Staples stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 7 Good · 7 Average · 9 Bad of 23
Growth: 2 · 1 · 0
Profitability: 0 · 2 · 3
Financial strength: 1 · 2 · 1
Valuation: 0 · 1 · 4
Cash flow: 2 · 1 · 1
Efficiency: 2 · 0 · 0
| Factor | WMT | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +5.3% | Good beats 80% | +2.3% | – | – |
| Revenue growth, last year | +4.7% | Average beats 63% | +2.2% | +5.1% | ≈ In line |
| EPS growth, 3 years a year | +24.3% | Good beats 98% | +2.0% | – | – |
| Profitability | |||||
| Gross margin | 25.2% | Bad beats 24% | 38.7% | 24.9% | ≈ In line |
| Operating margin | 4.4% | Bad beats 28% | 11.0% | 4.2% | ≈ In line |
| Net margin | 3.0% | Bad beats 30% | 6.9% | 2.4% | ≈ In line |
| Return on invested capital | 18.1% | Average beats 65% | 15.2% | – | – |
| Return on equity | 22.5% | Average beats 60% | 18.6% | 18.5% | ▲ Better |
| Financial strength | |||||
| Net debt / EBITDA | 0.8x | Good beats 90% | 2.0x | 0.8x | ≈ In line |
| Interest cover | 17.4x | Average beats 63% | 11.8x | 12.9x | ▲ Better |
| Current ratio | 0.77 | Bad beats 23% | 1.04 | 0.82 | ≈ In line |
| Piotroski F-score | 6 / 9 | Average beats 52% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 43.8x | Bad beats 9% | 25.0x | 33.7x | ▼ Worse |
| Price / book | 9.8x | Bad beats 25% | 4.5x | 5.3x | ▼ Worse |
| Price / sales | 1.3x | Average beats 63% | 1.8x | 0.7x | ▼ Worse |
| EV / EBITDA | 21.4x | Bad beats 29% | 15.2x | 13.5x | ▼ Worse |
| Free cash flow yield | 1.4% | Bad beats 6% | 4.8% | 2.8% | ▼ Worse |
| Cash flow | |||||
| Free cash flow margin | 1.8% | Bad beats 6% | 9.3% | 2.0% | ≈ In line |
| Cash from operations / net income | 1.94 | Good beats 73% | 1.54 | 1.90 | ≈ In line |
| Free cash flow growth, 3 years a year | +7.6% | Average beats 46% | +11.0% | – | – |
| Accruals (lower is better) | −7.1% | Good beats 75% | −4.2% | – | – |
| Efficiency | |||||
| Inventory turnover | 8.9x | Good beats 90% | 5.3x | 8.9x | ≈ In line |
| Days sales outstanding | 5 days | Good beats 88% | 35 days | 5 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 6 Good · ● 4 Average · ● 6 BadCash quality
Earnings backed by cashGood
Free-cash-flow yieldBad
Risk models
Altman Z''Bad
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Good
Free-cash-flow growth (3y)Average
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioBad
Net debt / EBITDAGood
Interest coverAverage
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Return on invested capitalAverage
Operating marginBad
Gross profitabilityGood
Each check is graded against the company's sector, not a fixed number. Checklist score 52/100.
Financials
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Revenue | $572.8B | $611.3B | $648.1B | $681.0B | $713.2B |
| Operating income | $25.9B | $20.4B | $27.0B | $29.3B | $29.8B |
| Net income | $13.7B | $11.7B | $15.5B | $19.4B | $21.9B |
| Operating cash flow | $24.2B | $28.8B | $35.7B | $36.4B | $41.6B |
| Operating margin | 4.5% | 3.3% | 4.2% | 4.3% | 4.2% |
| Free cash flow | $11.1B | $12.0B | $15.1B | $12.7B | $14.9B |
| Diluted EPS | $1.62 | $1.42 | $1.91 | $2.41 | $2.73 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
12 bullish · 0 neutral · 4 bearish
Weekly
Strongly bullish
10 bullish · 1 neutral · 1 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 116.5 | Bullish |
| EMA 10 | 116.5 | Bullish |
| SMA 20 | 111.6 | Bullish |
| EMA 20 | 113.6 | Bullish |
| SMA 50 | 109.3 | Bullish |
| EMA 50 | 111.4 | Bullish |
| SMA 100 | 111.8 | Bullish |
| EMA 100 | 112.5 | Bullish |
| SMA 200 | 118.0 | Bullish |
| EMA 200 | 112.9 | Bullish |
Oscillators (daily)
| RSI (14) | 74.39 | Bearish |
| MACD (12, 26) | 3.12 | Bullish |
| Momentum (12) | 12.99 | Bullish |
| Stochastic %K (14) | 98.55 | Bearish |
| Williams %R (14) | -1.45 | Bearish |
| CCI (20) | 113.8 | Bearish |
Pivot points (classic, last session)
S3 115.6 | S2 116.7 | S1 118.9 | Pivot 120.0 | R1 122.3 | R2 123.4 | R3 125.6 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
0.98 USD
Yield on today's price
0.81%
Frequency
Quarterly
Next ex-dividend date
11 Dec 2026
| Ex-dividend date | Amount per share |
|---|---|
| (upcoming) | 0.2475 |
| 0.2480 | |
| 0.2480 | |
| 0.2480 | |
| 0.2350 | |
| 0.2350 | |
| 0.2350 | |
| 0.2350 | |
| 0.2080 | |
| 0.2080 | |
| 0.2080 | |
| 0.2080 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold WMT
| ETF | Share of the fund |
|---|---|
| VDC Vanguard Consumer Staples | 14.71% |
| FSTA Fidelity MSCI Consumer Staples Index | 13.47% |
| XLP Consumer Staples Select Sector SPDR | 10.80% |
| ROCQ JPMorgan Nasdaq Equity Premium Yield | 3.47% |
| RWL Invesco S&P 500 Revenue | 3.27% |
| DIVO Amplify CWP Enhanced Dividend Income | 3.17% |
| RSPS Invesco S&P 500 Equal Weight Consumer... | 2.78% |
| MTUM iShares MSCI USA Momentum Factor | 2.64% |
The eight funds with the largest weight in WMT among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
WMT stock splits
WMT has split its stock 4 times since 1990. The latest was a 3-for-1 split on 26 Feb 2024.
Full WMT stock split history →WMT SEC filings
424B5SEC EDGAR
424B5
424B5SEC EDGAR
424B5
424B5SEC EDGAR
424B5
424B5SEC EDGAR
424B5
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Shareholder vote results
10-QSEC EDGAR
Quarterly report
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.