GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary
Walmart Inc (NYSE:WMT)
[1]
Significantly Overvalued[5]$ 97.78
GF Score: 74/100Market Cap: $ 780,325 Mil
Industry: Consumer Defensive - Retail - Defensive
IPO Date: 1970-10-01
Walmart is a leading retailer in the United States, with its strategy predicated on superior operating efficiency and offering the lowest priced goods to consumers to drive robust store traffic and product turnover. Walmart augmented its low-price business strategy by offering a convenient one-stop shopping destination with the opening of its first supercenter in 1988.Today, Walmart oper... read more
Latest FY Operating Revenue by Business Segment
Business Segment Name2025Percentage
Walmart US465,00968.28%
Walmart International123,36318.12%
Sam's Club92,56113.59%
Corporate and support52.000.01%
Financial Strength
Rank: 7 /10CurrentIndustry MedianHistorical Median
Cash-to-Debt0.140.40.16
Equity-to-Asset0.320.4250.33
Interest Coverage11.188.4159.61
Piotroski F-Score757
Profitability Rank
Rank: 7 /10CurrentIndustry MedianHistorical Median
Operating Margin %4.333.0754.22
Net Margin %2.752.2352.41
ROE %21.959.5717.30
ROA %7.273.8155.90
ROC (Joel Greenblatt) %20.4614.62519.19
Growth Rank(* per share data)
Rank: 6 /1010-Yr5-Yr1-Yr
Revenue Growth %5.76.84.6
EBITDA Growth %3.25.20.5
Oprt. Income Growth %3.07.67.7
EPS w/o NRI Growth %5.17.98.5
FCF Growth %-1.5-4.8-6.4
Book Value Growth %2.84.13.9
Momentum Rank
Rank: 9 /10CurrentIndustry MedianHistorical Median
5-Day RSI64.0955.64N/A
9-Day RSI58.8152.46N/A
14-Day RSI55.9952.04N/A
6-1M Momentum %9.261.30N/A
12-1M Momentum %45.803.63N/A
Quarterly
Apr24Jul24Oct24Jan25Apr25
Revenue161,508169,335169,588180,554165,609
Net Income5,1044,5014,5775,2544,487
EPS0.630.560.570.650.56
Revenue YoY %6.054.775.464.132.54
Net Income YoY %205.08-42.96910.38-4.37-12.09
EPS YoY %200.00-42.27850.00-3.99-11.11
Warning Signs
MEDIUMPrice: Close to 10-year high
Good Signs
GOODAltman Z-Score: Strong
Insider Trades
InsiderPositionDateTradesCur. Shares
Walton Family Holdings Trust10% Owner06/27/25-378639552.23M
Mcmillon C DouglasPresident and C06/26/25-194165.49M
Walton Family Holdings Trust10% Owner06/25/25-3356619552.61M
Furner John R.Executive Vice 06/20/25-13125951,018
Mclay Kathryn J.Executive Vice 06/20/25-40001.06M
Bartlett Daniel JExecutive Vice 06/16/25-1760650,977
Walton Family Holdings Trust10% Owner06/02/25-1016000555.97M
Rainey John DExecutive Vice 06/02/25-2200630,518
GF Value Rank
Rank: 1 /10CurrentIndustry MedianHistorical Median
PE Ratio41.7918.0927.76
Forward P/E37.5114.96N/A
PB Ratio9.321.684.71
PS Ratio1.150.50.65
P/FCF58.4514.4419.12
Shiller P/E52.8319.79525.17
PEG Ratio7.461.556.10
Valuation Analysis
Current% of Price
NCAV-12.31-13
Tangible Book6.887
Peter Lynch Value14.5915
Graham Number19.7520
EPV36.7338
Median PS Value55.1056
GF Value60.3762
Price97.78
Dividend & Ownership
Dividend Yield (TTM) %0.91
Dividend Yield (Forward) %0.96
Dividend Payout Ratio0.34
Dividend Growth (5Y) %2.90
Yield on Cost (5Y) %1.05
Continuous Div. since1975
Insider Ownership %1.14
Institution Ownership %35.15
As of 07-01-2025
* All financial numbers are in millions except for per share data, ratios and percentage change. "Neg. E" means negative equity.
20152016201720182019202020212022202320242025Performance
%GainSP500
1W-0.092.95
1M-0.955.14
3M11.6510.78
6M8.786.05
YTD8.786.05
1Y45.8914.94
3Y35.9019.53
5Y21.3216.55
10Y17.4813.53
105.05
43.12
18.81
49M
24.3M
2016201720182019202020212022202320242025CurrentKey Data
29.1124.7736.5235.1940.4350.9350.4853.2956.5998.65105.30Highest Stock Price
18.8121.0522.0827.4731.2934.6842.5139.4345.6656.1066.67Lowest Stock Price
209,830203,424314,683277,907320,572396,322386,015388,449443,641787,636780,325Market Cap
9,6519,3369,0308,8358,6048,5418,4158,2028,1088,0818,051Shares Outstanding-Diluted
14.5215.2432.5142.4222.0629.5828.7733.7728.8440.7341.79PE Ratio
2.612.614.043.834.294.904.645.075.298.659.32PB Ratio
0.440.430.640.550.630.720.680.640.691.161.15PS Ratio
7.567.4412.7713.7011.5813.1813.9514.8213.7920.1220.54EV-to-EBITDA
2016201720182019202020212022202320242025TTMPer Share Data
49.9652.0455.4158.2260.9065.4768.0674.5379.9484.2784.86Revenue per Share
1.521.461.090.751.731.581.621.421.912.412.34Earnings per Share
1.672.262.031.971.693.021.321.461.871.571.67Free Cash Flow per Share
0.650.670.680.690.710.720.730.750.760.830.86Dividends per Share
6.736.656.734.755.196.146.555.996.927.756.88Tangible Book per Share
26.0226.4927.8229.2931.2734.5337.0642.0347.6254.2055.10Median PS Value
15.2214.6714.9413.2313.8515.8817.8116.8118.5820.9319.75Graham Number
2016201720182019202020212022202320242025TTMIncome Statement
482,130485,873500,343514,405523,964559,151572,754611,289648,125680,985685,086Revenue
121,146124,617126,947129,104129,359138,836143,754147,568157,983169,232170,461Gross Profit
25.1325.6525.3725.1024.6924.8325.1024.1424.3824.8524.88Gross Margin %
97,041101,853106,510107,147108,791116,288117,812127,140130,971139,884140,819Total Operating Expense
24,10522,76420,43721,95720,56822,54825,94220,42827,01229,34829,642Operating Income
5.004.694.084.273.934.034.533.344.174.314.33Operating Margin %
14,69413,6439,8626,67014,88113,51013,67311,68015,51119,43618,819Net Income
3.052.811.971.302.842.422.391.912.392.852.75Net Margin %
24,18622,86417,45313,80622,71522,87920,69019,14424,53129,03727,919EBIT
33,64032,94427,98224,48433,70234,03131,34830,08936,38442,01041,133EBITDA
18.1517.2312.678.8720.2217.3716.6614.6019.3222.2321.95ROE %
7.296.854.893.156.535.535.504.796.267.577.27ROA %
2016201720182019202020212022202320242025Apr25Balance Sheet
8,7056,8676,7567,7229,46517,74114,7608,6259,8679,0379,311Cash & Equivalents & MS
60,23957,68959,66461,89761,80690,06781,07075,65576,87779,45880,253Total Current Assets
199,581198,825204,522219,295236,495252,496244,860243,197252,399260,823262,372Total Assets
6,0043,9209,6627,8308,2415,2965,2076,6036,5377,96512,010Short-Term Debt & CLO
64,61966,92878,52177,47777,79092,64587,37992,19892,41596,584102,920Total Current Liabilities
44,03042,01836,82550,20364,19257,95052,11652,32054,78452,14955,195Long-Term Debt & CLO
115,970118,290123,700139,661154,943164,965152,969159,206161,828163,131171,724Total Liabilities
80,54677,79877,86972,49674,66980,92583,25376,69383,86191,01383,793Total Stockholders Equity
83,61180,53580,82279,63481,55287,53191,89183,99190,57197,69290,648Total Equity
2016201720182019202020212022202320242025TTMCashflow Statement
27,55231,67328,33727,75325,25536,07424,18128,84135,72636,44337,605Cash Flow from Operations
-10,675-13,896-9,079-24,036-9,128-10,071-6,015-17,722-21,287-21,379-22,063Cash Flow from Investing
-16,285-19,072-19,875-2,537-14,299-16,117-22,828-17,039-13,414-14,822-14,493Cash Flow from Financing
-430.00-1,747-130.00742.001,75910,121-4,802-5,9931,094-399.00472.00Net Change in Cash
8,7057,1447,0147,7569,51517,78814,8348,8419,9359,5369,932Ending Cash Position
-11,477-10,619-10,051-10,344-10,705-10,264-13,106-16,857-20,606-23,783-24,093Capital Expenditure
16,07521,05418,28617,40914,55025,81011,07511,98415,12012,66013,512Free Cash Flow
Competitor(* Up to 5 competitors are listed here. See full competitors list in the Competitive Comparison section below)
TickerCompanyMarket Cap
($M)
PE RatioGF Score
/100
Financial
Strength /10
Profitability
Rank /10
GF Value
Rank /10
Growth
Rank /10
Momentum
Rank /10
NYSE:WMTWalmart Inc780,32541.797477169
NAS:COSTCostco Wholesale Corp439,01656.15928931010
MEX:WALMEXWal - Mart de Mexico SAB de CV57,85520.438588867
NYSE:TGTTarget Corp44,82310.848468874
TSX:DOLDollarama Inc39,06943.90805101103
GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary

Financial Strength[2] (Quarterly data, as of Apr. 2025) : Good (7/10)

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Cash-to-Debt : 0.14

Cash-to-Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. A high ratio indicates that a company is better able to pay back its debt, and is thus able to take on more debt if necessary.


Equity-to-Asset : 0.32

Equity-to-Asset ratio is calculated as total stockholders equity divided by its total assets. Equity-to-Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity-to-Asset ratio (more leveraged) may have higher ROE % because of the leverage.


Debt-to-Equity : 0.80

A high Debt-to-Equity ratio generally means that a company has been aggressive in financing its growth with debt.


Piotroski F-Score : 7

The Piotroski F-Score is used to determine the strength of a firm's financial position, with 9 being the best and 0 being the worst.

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WACC : 8.02% vs ROIC : 12.12%

The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. Return on invested capital (ROIC) measures how well a company generates cash flow relative to the capital it has invested in its business.


Dividend Yield : 0.88%

Dividend yield is a way to measure how much cash flow you are getting for each dollar invested in an equity position.

GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary

Profitability[3] (Annual data, as of Jan. 2025) : Good (7/10)

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9

Revenue : $165,609 Mil vs Net Income : $4,487 Mil

Revenue is the amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. Net Income is a company's total profit. Net income is calculated by taking revenues and adjusting for the cost of doing business, depreciation, interest, taxes and other expenses.


Cash & Equivalents : $9,311 Mil vs Long-Term Debt* : $55,195 Mil

Cash & equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash. Long-Term Debt* consists of loans and obligations lasting over one year.


Operating Margin % : 4.31%

Operating margin % measures how much profit a company makes on a dollar of sales. Operating Margin % is calculated as Operating Income divided by Revenue.


EPS without NRI : $0.61

Earnings Per Share without Non-Recurring Items is the amount of earnings without non-recurring items per outstanding share of the company's stock. In calculating earnings per share without non-recurring items, the dividends of preferred stocks and Non Operating Income need to subtracted from the total net income first.


Dividends per Share : $0.24

Dividends per Share is the amount of dividends that the shareholders of a company receive on a per-share basis. It is calculated using the total dividends paid out to shareholders over one fiscal year and the number of shares outstanding.


Free Cash Flow per Share : $0.05

Free Cash flow per Share is the amount of Free cash flow per outstanding share of the company's stock.

GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary

Valuation (Quarterly data, as of Apr. 2025)

These valuation metrics should give you a sense of reasonable prices, but be careful with them. Always seek to understand why a valuation is changing over time.


Valuation Chart (Current stock price : $97.78)


PE Ratio without NRI : 38.59

The price-to-earnings ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.


PB Ratio : 9.27

The price-to-book ratio measures the valuation of the stock relative to the underlying asset of the company.


PS Ratio : 1.15

The price-to-sales ratio is a valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the value placed on each dollar of a company’s sales or revenues.


Price-to-Free-Cash-Flow : 58.13

Price-to-free-cash-flow is very similar to the valuation metric of price-to-operating-cash-flow but is considered a more exact measure, owing to the fact that it uses free cash flow, which subtracts capital expenditures from a company's total operating cash flow, thereby reflecting the actual cash flow available to fund non-asset-related growth.


EV-to-EBIT : 30.14

Enterprise value of a company divided by its trailing 12 months earnings before interest and taxes (EBIT).

GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary

Valuation Bands

In these charts the 10-year valuation bands of the price-to-earnings ratio (PE Ratio), price-to-book ratio (PB Ratio), price-to-sales ratio (PS Ratio) and price-to-operating-cash-flow ratio (POCF) are drawn together with the historical stock prices. For example, the upper line of the PE band is where the stock price would have been if it were always traded at the maximum PE ratio of the past 10 years. The lower line of the PE band is where the stock price would have been if it were always traded at the lowest PE ratio of the past 10 years. It is always better if the stock price is close to the lower line, which indicates a lower valuation.


Historical Price and PE Band


Historical Price and PS Band


Historical Price and PB Band


Historical Price and Price-to-Operating-Cash-Flow (POCF) Band

GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary

Warning Signs

GuruFocus conducted a thorough checkup using a checklist of 32 items that cover the areas of financial strength, profitability, growth, and valuation of each company. The purpose of Warning Signs is to warn you that the company may have red flags in certain areas, helping to avoid overlooking them. These warning signs do not necessarily mean you should not invest in the stock. But you should be aware of them before you invest.


Good Signs

Altman Z-Score : Strong

Altman Z-score of 6.07 is strong.

Piotroski F-Score : High

Piotroski F-Score is 7, indicates a very healthy situation.

Beneish M-Score : Unlikely manipulator

Beneish M-Score -2.78 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

Operating Margin % : Expansion

Walmart Inc operating margin is expanding. Margin expansion is usually a good sign.

Medium Warning Signs

Price : Close to 10-year high

Walmart Inc stock Price is close to 10-year high.

PE Ratio : Close to 2-year high

Walmart Inc stock PE Ratio (=41.79) is close to 2-year high of 43.17.

PB Ratio : Close to 10-year high

Walmart Inc stock PB Ratio (=9.32) is close to 10-year high of 9.41.

PS Ratio : Close to 10-year high

Walmart Inc stock PS Ratio (=1.15) is close to 10-year high of 1.23.

Insider Sell : Insider Selling

There were 18 insider selling transactions and no insider buying over the past 3 months. 19,845,769 shares were sold.
GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary

Competitive Comparison


5 Year Price Change Comparison



Financial Strength

CompanyFinancial StrengthCash-to-DebtEquity-to-AssetDebt-to-EquityInterest CoveragePiotroski F-ScoreAltman Z-ScoreBeneish M-ScoreWACC %ROIC %
BOM:540376Avenue Supermarts Ltd9/101.080.880.0452.09361.32-2.7416.9413.33
NAS:PSMTPricesmart Inc9/101.050.560.2018.7085.59-2.5510.0012.55
NAS:COSTCostco Wholesale Corp8/101.820.360.3064.2399.87-2.6910.3916.59
MEX:WALMEXWal - Mart de Mexico SAB de CV8/100.300.510.337.2465.96-2.3413.7518.27
NAS:OLLIOllie's Bargain Outlet Holdings Inc7/100.570.640.38N/A57.21-1.256.819.63
TSE:141ATrial Holdings Inc7/103.700.450.11226.6783.77-3.167.096.53
NYSE:WMTWalmart Inc7/100.140.320.8011.1876.07-2.788.0212.12
NYSE:TBBBBBB Foods Inc6/100.480.172.341.09N/A4.41-3.1714.414.77
NYSE:BJBJ's Wholesale Club Holdings Inc6/100.020.281.3718.1585.28-2.635.2611.30
OSL:EPREuropris ASA6/100.030.351.304.7253.13-2.557.229.54
NYSE:TGTTarget Corp6/100.150.271.2713.6463.06-2.689.0210.95
NYSE:DGDollar General Corp5/100.050.252.216.5462.39-2.873.275.30
NAS:DLTRDollar Tree Inc5/100.130.212.0313.4752.26-4.326.975.81
TSX:DOLDollarama Inc5/100.050.203.568.6777.98-2.314.0421.97
TSE:7532Pan Pacific International Holdings Corp5/100.390.400.7924.7574.40-2.572.709.17
LSE:BMEB&M European Value Retail SA4/100.090.193.414.0452.52-2.987.6213.48
XMAD:DIADistribuidora Internacional De Alimentacion SA4/100.34-0.02-26.110.3232.75-3.768.131.28
XKRX:139480E-MART Inc4/100.210.300.860.2961.09-2.784.370.44
WAR:PCOPepco Group NV4/100.180.096.012.0141.87-4.6711.6510.73
OTCPK:BIGGQBig Lots Inc0/100.02-0.05-15.160.0052.04-3.222.26-22.43
GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary

Competitive Comparison - Cont.


Profitability

CompanyProfitability RankOperating
Margin %
Net Margin %ROE %ROA %Price-to-Free-Cash-FlowROC (Joel Greenblatt) %3-Year Revenue Growth %3-Year EBITDA Growth %3-Year EPS w/o NRI Growth %
TSX:DOLDollarama Inc10/1024.9618.79113.9519.6037.7148.9117.1022.0024.00
OSL:EPREuropris ASA10/108.005.2118.946.6312.5521.3313.401.00-8.90
BOM:540376Avenue Supermarts Ltd9/106.104.5613.4811.850.0019.9124.4020.8022.00
NAS:COSTCostco Wholesale Corp9/103.752.9232.0010.9060.1933.089.1012.0013.90
NAS:OLLIOllie's Bargain Outlet Holdings Inc9/1010.658.5912.318.0985.3420.5110.8010.3011.60
TSE:7532Pan Pacific International Holdings Corp9/107.164.1716.626.1858.5918.479.2024.3016.10
NYSE:BJBJ's Wholesale Club Holdings Inc8/104.092.7632.708.1450.3520.728.3010.607.60
NYSE:DGDollar General Corp8/104.242.8115.713.6913.108.778.30-9.30-20.50
NAS:PSMTPricesmart Inc8/104.452.8112.656.9640.2120.4411.2011.1013.00
NYSE:TGTTarget Corp8/105.423.9528.917.3812.8715.942.40-8.30-13.20
MEX:WALMEXWal - Mart de Mexico SAB de CV8/107.925.4424.1711.2344.2829.399.206.906.70
LSE:BMEB&M European Value Retail SA7/1010.165.7342.958.315.0330.116.000.20-6.60
NYSE:WMTWalmart Inc7/104.332.7521.957.2758.4520.467.4011.805.20
NAS:DLTRDollar Tree Inc6/109.77-20.48-49.43-14.2215.0311.49-10.90-5.40-4.20
XKRX:139480E-MART Inc6/100.51-1.88-5.10-1.612.75-0.116.70-23.000.00
WAR:PCOPepco Group NV5/104.75-14.65-134.04-23.305.12-35.1412.10-38.00-5.90
TSE:141ATrial Holdings Inc4/102.211.328.853.616.6013.4566.7079.2076.00
NYSE:TBBBBBB Foods Inc3/102.120.8213.162.3350.2816.5027.3052.9074.80
XMAD:DIADistribuidora Internacional De Alimentacion SA2/100.56-1.340.00-3.353.9912.97-0.2026.600.00
OTCPK:BIGGQBig Lots Inc0/10-13.82-10.40-282.61-14.290.00-16.000.700.000.00

Valuation

CompanyPE RatioPB RatioPS RatioPrice-to-Intrinsic-Value-Projected-FCFPrice-to-Intrinsic-Value-DCF (Earnings Based)Price-to-Median-PS-ValuePrice-to-Peter-Lynch-Fair-ValuePrice-to-Graham-NumberEarnings Yield (Joel Greenblatt) %Forward Rate of Return (Yacktman) %
OTCPK:BIGGQBig Lots IncAt Loss0.000.000.000.000.000.000.00-18.28-14851.86
XMAD:DIADistribuidora Internacional De Alimentacion SAAt Loss0.000.271.840.001.880.000.006.33-68.52
NAS:DLTRDollar Tree IncAt Loss5.331.461.490.001.300.002.255.507.51
XKRX:139480E-MART IncAt Loss0.220.080.230.000.380.000.00-0.126.89
WAR:PCOPepco Group NVAt Loss9.840.500.000.000.000.003.60-14.090.64
LSE:BMEB&M European Value Retail SA8.543.620.490.380.310.411.220.0011.2627.47
NYSE:TGTTarget Corp10.843.000.430.830.800.660.001.289.598.95
OSL:EPREuropris ASA19.403.511.020.670.650.912.424.175.7417.34
MEX:WALMEXWal - Mart de Mexico SAB de CV20.434.441.111.572.020.743.462.246.009.62
NYSE:DGDollar General Corp21.833.270.611.051.470.500.003.364.223.10
NAS:PSMTPricesmart Inc22.382.750.621.700.000.972.111.676.5912.94
NYSE:BJBJ's Wholesale Club Holdings Inc25.617.220.702.060.000.002.074.274.5814.69
TSE:141ATrial Holdings Inc28.492.300.370.000.000.000.001.636.830.00
TSE:7532Pan Pacific International Holdings Corp32.144.941.342.420.791.511.602.704.5118.98
NAS:OLLIOllie's Bargain Outlet Holdings Inc40.554.683.502.931.451.300.003.692.965.40
NYSE:WMTWalmart Inc41.799.321.153.450.001.776.714.953.307.60
TSX:DOLDollarama Inc43.9040.278.243.521.611.782.1815.943.1321.84
NAS:COSTCostco Wholesale Corp56.1516.191.644.182.691.844.286.372.4514.57
BOM:540376Avenue Supermarts Ltd105.1513.094.7927.924.100.004.327.951.3120.00
NYSE:TBBBBBB Foods Inc132.1915.511.110.000.000.000.0041.433.170.00
GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary

Peter Lynch Chart[4]

GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary

Per Share Data


Per Share Data

Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
Jan22
Jan23
Jan24
Jan25
TTM Fiscal Period
35.09
38.32
42.84
46.10
48.36
49.92
49.96
52.04
55.41
58.22
60.90
65.47
68.06
74.53
79.94
84.27
84.86
Revenue per Share
2.70
3.03
3.34
3.58
3.64
3.75
3.49
3.53
3.10
2.77
3.92
3.98
3.73
3.67
4.49
5.20
5.09
EBITDA per Share
2.08
2.34
2.56
2.75
2.74
2.80
2.51
2.45
1.93
1.56
2.64
2.68
2.46
2.33
3.03
3.59
3.46
EBIT per Share
1.24
1.49
1.51
1.67
1.63
1.68
1.52
1.46
1.09
0.75
1.73
1.58
1.62
1.42
1.91
2.41
2.34
Earnings per Share (Diluted)
1.24
1.39
1.51
1.67
1.70
1.69
1.53
1.44
1.47
1.64
1.64
1.83
2.15
2.10
2.22
2.51
2.52
EPS without NRI
1.42
1.16
1.31
1.47
1.23
1.85
1.82
2.48
1.80
1.20
2.21
3.27
1.14
2.07
2.26
2.35
2.28
Owner Earnings per Share (TTM)
1.21
0.99
1.03
1.25
1.03
1.69
1.67
2.26
2.03
1.97
1.69
3.02
1.32
1.46
1.87
1.57
1.67
Free Cash Flow per Share
2.26
2.15
2.33
2.52
2.36
2.94
2.86
3.39
3.14
3.14
2.94
4.22
2.87
3.52
4.41
4.51
4.66
Operating Cash Flow per Share
0.70
0.70
0.64
0.78
0.75
0.94
0.92
0.75
0.76
0.89
1.13
2.10
1.78
1.07
1.23
1.13
1.17
Cash per Share
0.36
0.40
0.49
0.53
0.63
0.64
0.65
0.67
0.68
0.69
0.71
0.72
0.73
0.75
0.76
0.83
0.86
Dividends per Share
6.20
6.50
6.96
7.68
7.86
8.41
8.49
8.51
8.79
8.33
8.89
9.56
10.05
9.47
10.41
11.34
10.49
Book Value per Share
4.78
4.91
4.94
5.62
5.85
6.54
6.73
6.65
6.73
4.75
5.19
6.14
6.55
5.99
6.92
7.75
6.88
Tangible Book per Share
3.64
4.73
5.21
5.45
5.84
5.18
5.28
5.02
5.25
6.67
8.62
7.47
6.92
7.27
7.61
7.49
8.42
Total Debt per Share
17.81
18.69
20.45
23.32
24.89
28.33
22.12
22.25
35.53
31.94
38.16
46.83
46.60
47.96
55.08
98.16
97.78
Month End Stock Price
11,631
11,010
10,422
10,167
9,849
9,729
9,651
9,336
9,030
8,835
8,604
8,541
8,415
8,202
8,108
8,081
8,051
Shares Outstanding (Diluted Average)

Ratios

Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
Jan22
Jan23
Jan24
Jan25
TTM Fiscal Period
21.17
23.58
22.45
23.02
21.00
20.76
18.15
17.23
12.67
8.87
20.22
17.37
16.66
14.60
19.32
22.23
21.95
ROE %
7.38
8.19
7.64
7.57
6.62
6.16
6.95
6.60
3.14
2.32
4.71
3.54
3.59
2.88
3.65
2.57
2.36
ROE % Adjusted to Book Value
8.61
9.33
8.39
8.57
7.86
8.02
7.29
6.85
4.89
3.15
6.53
5.53
5.50
4.79
6.26
7.57
7.27
ROA %
27.54
30.89
30.65
31.92
28.46
27.26
23.11
21.90
16.38
13.22
35.05
28.28
25.75
22.73
29.75
32.95
32.77
Return-on-Tangible-Equity
9.50
10.30
9.32
9.57
8.71
8.83
7.98
7.48
5.36
3.56
7.56
6.30
6.22
5.42
7.06
8.52
8.16
Return-on-Tangible-Asset
24.43
24.50
24.21
24.38
23.01
23.24
20.75
19.82
15.24
12.21
19.05
19.32
18.60
16.51
19.66
21.51
20.46
ROC (Joel Greenblatt) %
21.70
21.72
21.05
21.27
20.24
19.92
17.71
17.14
13.53
10.31
15.12
14.36
13.04
12.41
15.78
17.91
17.41
ROCE %
8.79
14.13
10.27
11.02
7.80
3.51
0.34
-4.31
-13.04
-29.00
6.51
3.59
16.56
18.98
4.08
16.12
17.43
5-Year RORE %
24.66
14.26
5.45
11.55
751
-4.12
105
-58.30
-16.70
-122
80.42
-731
107
-62.96
44.62
37.47
31.14
1-Year ROIIC %
13.01
13.21
12.78
12.72
11.58
12.16
11.50
10.86
9.37
8.50
8.83
8.17
10.92
7.79
11.13
11.94
12.12
ROIC %
4.88
5.27
3.61
3.97
4.38
3.31
3.17
2.49
3.80
5.88
4.93
3.42
4.37
6.08
6.82
8.08
8.02
WACC %
4.94
4.84
4.49
4.18
4.22
4.61
5.09
4.93
5.04
4.49
3.98
3.41
3.31
3.66
4.46
4.49
4.21
Effective Interest Rate on Debt %
25.48
25.34
24.98
24.83
24.82
24.83
25.13
25.65
25.37
25.10
24.69
24.83
25.10
24.14
24.38
24.85
24.88
Gross Margin %
5.88
6.05
5.93
5.92
5.64
5.59
5.00
4.69
4.08
4.27
3.93
4.03
4.53
3.34
4.17
4.31
4.33
Operating Margin %
3.52
3.89
3.52
3.63
3.36
3.37
3.05
2.81
1.97
1.30
2.84
2.42
2.39
1.91
2.39
2.85
2.75
Net Margin %
7.68
7.91
7.78
7.76
7.53
7.50
6.98
6.78
5.59
4.76
6.43
6.09
5.47
4.92
5.61
6.17
6.00
EBITDA Margin %
3.45
2.59
2.41
2.71
2.13
3.37
3.33
4.33
3.65
3.38
2.78
4.62
1.93
1.96
2.33
1.86
1.97
FCF Margin %
0.59
0.73
0.75
0.71
0.74
0.62
0.62
0.59
0.60
0.80
0.97
0.78
0.69
0.77
0.73
0.66
0.80
Debt-to-Equity
0.41
0.38
0.37
0.38
0.37
0.40
0.40
0.39
0.38
0.33
0.32
0.32
0.34
0.32
0.33
0.35
0.32
Equity-to-Asset
0.24
0.28
0.28
0.27
0.28
0.25
0.25
0.23
0.23
0.27
0.31
0.25
0.23
0.24
0.24
0.23
0.26
Debt-to-Asset
0.57
0.60
0.61
0.60
0.60
0.58
0.58
0.60
0.61
0.64
0.66
0.65
0.63
0.66
0.64
0.63
0.66
Liabilities-to-Assets
62.29
60.88
59.60
58.69
57.97
59.07
60.11
62.56
62.95
60.92
56.76
56.78
57.81
60.47
63.75
65.95
65.81
Gross-Profit-to-Asset %
1.68
3.52
0.17
2.29
0.82
3.52
0.84
0.71
1.08
1.45
1.98
-12.18
-0.33
1.65
1.22
1.40
-0.04
Degree of Financial Leverage
2.45
2.40
2.39
2.36
2.34
2.38
2.39
2.44
2.48
2.43
2.30
2.29
2.30
2.51
2.62
2.65
2.64
Asset Turnover
0.29
0.29
0.32
0.32
0.37
0.38
0.43
0.46
0.46
0.42
0.43
0.39
0.34
0.36
0.34
0.33
0.34
Dividend Payout Ratio
3.60
3.99
4.51
4.95
5.15
5.06
4.69
4.30
4.18
4.22
4.38
4.18
4.71
4.84
4.71
5.03
5.05
Days Sales Outstanding
35.59
37.16
38.29
38.69
38.48
37.90
38.88
40.37
42.78
44.12
43.49
41.73
44.41
42.90
41.16
41.18
41.42
Days Payable
40.34
40.07
42.03
43.78
45.19
44.99
45.30
44.21
42.44
41.71
41.02
38.81
43.16
44.51
41.50
39.70
40.88
Days Inventory
8.35
6.90
8.25
10.04
11.86
12.15
11.11
8.14
3.84
1.81
1.91
1.26
3.46
6.45
5.05
3.55
4.51
Cash Conversion Cycle
101
91.38
80.99
73.77
70.85
72.19
77.75
84.80
87.40
86.48
83.39
87.37
77.42
75.41
77.49
72.56
72.23
Receivables Turnover
9.05
9.11
8.68
8.34
8.08
8.11
8.06
8.26
8.60
8.75
8.90
9.40
8.46
8.20
8.79
9.19
8.93
Inventory Turnover
0.75
0.75
0.75
0.75
0.75
0.75
0.75
0.74
0.75
0.75
0.75
0.75
0.75
0.76
0.76
0.75
0.75
COGS-to-Revenue
0.08
0.08
0.09
0.09
0.09
0.09
0.09
0.09
0.09
0.09
0.09
0.08
0.09
0.09
0.09
0.08
0.08
Inventory-to-Revenue
0.03
0.03
0.03
0.03
0.03
0.03
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.03
0.03
0.04
0.04
Capex-to-Revenue
0.51
0.50
0.51
0.47
0.49
0.45
0.48
0.47
0.49
0.47
0.52
0.46
0.51
0.83
0.76
0.81
0.81
Capex-to-Operating-Income
0.46
0.54
0.56
0.50
0.56
0.43
0.42
0.34
0.36
0.37
0.42
0.29
0.54
0.58
0.58
0.65
0.64
Capex-to-Operating-Cash-Flow
* All financial numbers are in millions except for per share data, ratios and percentage change. When Return-on-Tangible-Equity displays Neg. E, it means the the tangible equity is negative. When ROE % or ROE % Adjusted to Book Value displays Neg. E, it means the the total shareholders equity is negative.
GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary

Financial Statement

Income Statement

Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
Jan22
Jan23
Jan24
Jan25
TTM Fiscal Period
408,085
421,849
446,509
468,651
476,294
485,651
482,130
485,873
500,343
514,405
523,964
559,151
572,754
611,289
648,125
680,985
685,086
Revenue
304,106
314,946
334,993
352,297
358,069
365,086
360,984
361,256
373,396
385,301
394,605
420,315
429,000
463,721
490,142
511,753
514,625
Cost of Goods Sold
103,979
106,903
111,516
116,354
118,225
120,565
121,146
124,617
126,947
129,104
129,359
138,836
143,754
147,568
157,983
169,232
170,461
Gross Profit
25.48
25.34
24.98
24.83
24.82
24.83
25.13
25.65
25.37
25.10
24.69
24.83
25.10
24.14
24.38
24.85
24.88
Gross Margin %
79,977
81,361
85,025
88,629
91,353
93,418
97,041
101,853
106,510
107,147
108,791
116,288
117,812
127,140
130,971
139,884
140,819
Selling, General, & Admin. Expense
79,977
81,361
85,025
88,629
91,353
93,418
97,041
101,853
106,510
107,147
108,791
116,288
117,812
127,140
130,971
139,884
140,819
Total Operating Expense
24,002
25,542
26,491
27,725
26,872
27,147
24,105
22,764
20,437
21,957
20,568
22,548
25,942
20,428
27,012
29,348
29,642
Operating Income
5.88
6.05
5.93
5.92
5.64
5.59
5.00
4.69
4.08
4.27
3.93
4.03
4.53
3.34
4.17
4.31
4.33
Operating Margin %
181
201
161
186
119
113
81.00
100.00
152
217
189
121
158
254
546
483
462
  Interest Income
-2,065
-2,205
-2,320
-2,249
-2,335
-2,461
-2,548
-2,367
-2,330
-2,346
-2,599
-2,315
-1,994
-2,128
-2,683
-2,728
-2,651
  Interest Expense
-1,884
-2,004
-2,159
-2,063
-2,216
-2,348
-2,467
-2,267
-2,178
-2,129
-2,410
-2,194
-1,836
-1,874
-2,137
-2,245
-2,189
Net Interest Income
--
--
--
--
--
--
--
--
-3,136
-8,368
1,958
210
-5,410
-1,538
-3,027
-794
-2,185
Other Income (Expense)
22,118
23,538
24,332
25,662
24,656
24,799
21,638
20,497
15,123
11,460
20,116
20,564
18,696
17,016
21,848
26,309
25,268
Pre-Tax Income
-7,156
-7,579
-7,924
-7,958
-8,105
-7,985
-6,558
-6,204
-4,600
-4,281
-4,915
-6,858
-4,756
-5,724
-5,578
-6,152
-5,779
Tax Provision
32.35
32.20
32.57
31.01
32.87
32.20
30.31
30.27
30.42
37.36
24.43
33.35
25.44
33.64
25.53
23.38
22.87
Tax Rate %
-79.00
1,034
-21.00
52.00
144
285
--
--
--
--
--
--
--
--
--
--
-- Other Net Income (Loss)
14,883
16,993
16,387
17,756
16,695
17,099
15,080
14,293
10,523
7,179
15,201
13,706
13,940
11,292
16,270
20,157
19,489
Net Income Including Noncontrolling Interests
14,962
15,959
16,408
17,704
16,551
16,814
15,080
14,293
10,523
7,179
15,201
13,706
13,940
11,292
16,270
20,157
19,489
  Net Income (Continuing Operations)
-79.00
1,034
-21.00
52.00
144
285
--
--
--
--
--
--
--
--
--
--
--   Net Income (Discontinued Operations)
-513
-604
-688
-757
-673
-736
-386
-650
-661
-509
-320
-196
-267
388
-759
-721
-670
Other Income (Minority Interest)
14,370
16,389
15,699
16,999
16,022
16,363
14,694
13,643
9,862
6,670
14,881
13,510
13,673
11,680
15,511
19,436
18,819
Net Income
3.52
3.89
3.52
3.63
3.36
3.37
3.05
2.81
1.97
1.30
2.84
2.42
2.39
1.91
2.39
2.85
2.75
Net Margin %
1.24
1.49
1.51
1.68
1.63
1.69
1.53
1.47
1.10
0.76
1.74
1.59
1.63
1.43
1.92
2.42
2.34
EPS (Basic)
1.24
1.49
1.51
1.67
1.63
1.68
1.52
1.46
1.09
0.75
1.73
1.58
1.62
1.42
1.91
2.41
2.34
EPS (Diluted)
11,631
11,010
10,422
10,167
9,849
9,729
9,651
9,336
9,030
8,835
8,604
8,541
8,415
8,202
8,108
8,081
8,051
Shares Outstanding (Diluted Average)
24,183
25,743
26,652
27,911
26,991
27,260
24,186
22,864
17,453
13,806
22,715
22,879
20,690
19,144
24,531
29,037
27,919
EBIT
7,157
7,641
8,106
8,478
8,870
9,173
9,454
10,080
10,529
10,678
10,987
11,152
10,658
10,945
11,853
12,973
13,214
Depreciation, Depletion and Amortization
31,340
33,384
34,758
36,389
35,861
36,433
33,640
32,944
27,982
24,484
33,702
34,031
31,348
30,089
36,384
42,010
41,133
EBITDA
7.68
7.91
7.78
7.76
7.53
7.50
6.98
6.78
5.59
4.76
6.43
6.09
5.47
4.92
5.61
6.17
6.00
EBITDA Margin %
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary

Financial Statement

Cashflow Statement

Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
Jan22
Jan23
Jan24
Jan25
TTM Fiscal Period
14,962
15,959
16,408
17,704
16,551
16,814
15,080
14,293
10,523
7,179
15,201
13,706
13,940
11,292
16,270
20,157
19,489
Net Income From Continuing Operations
7,157
7,641
8,106
8,478
8,870
9,173
9,454
10,080
10,529
10,678
10,987
11,152
10,658
10,945
11,853
12,973
13,214
Depreciation, Depletion and Amortization
-297
-733
-796
-614
-566
-569
-19.00
-402
-1,074
-368
154
-1,086
-1,796
240
-797
-1,106
-684
  Change In Receivables
2,213
-3,205
-3,727
-2,759
-1,667
-1,229
-703
1,021
-140
-1,311
-300
-2,395
-11,764
-528
2,017
-2,755
-3,033
  Change In Inventory
2,400
2,243
2,746
2,313
-590
4,093
3,002
5,714
4,457
1,974
-181
11,453
6,963
2,841
723
4,042
4,481
  Change In Payables And Accrued Expense
4,316
-1,695
-1,777
-1,060
-2,823
2,295
2,280
6,333
3,243
295
-327
7,972
-6,597
2,553
1,943
181
764
Change In Working Capital
-504
651
1,050
-133
-279
-503
-672
761
-304
-499
320
1,911
-755
449
-175
-635
-813
Deferred Tax
318
1,087
468
602
938
785
1,410
206
4,346
10,100
-926
1,333
6,935
3,602
5,835
3,767
4,951
Cash Flow from Others
26,249
23,643
24,255
25,591
23,257
28,564
27,552
31,673
28,337
27,753
25,255
36,074
24,181
28,841
35,726
36,443
37,605
Cash Flow from Operations
-12,184
-12,699
-13,510
-12,898
-13,115
-12,174
-11,477
-10,619
-10,051
-10,344
-10,705
-10,264
-13,106
-16,857
-20,606
-23,783
-24,093
Purchase Of Property, Plant, Equipment
1,002
489
580
532
727
570
635
456
378
519
321
215
394
170
250
432
385
Sale Of Property, Plant, Equipment
--
-202
-3,548
-316
-15.00
--
--
-2,463
-375
-14,656
-56.00
-180
-359
-740
-9.00
-1,896
-- Purchase Of Business
--
--
--
--
--
671
246
662
1,046
876
833
56.00
7,935
--
135
--
3.00
Sale Of Business
--
--
--
--
--
--
--
-1,901
--
--
--
--
--
--
--
--
-- Purchase Of Investment
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
4,080
-- Sale Of Investment
-438
219
-131
45.00
-123
-192
-79.00
-31.00
-77.00
-431
479
102
-879
-295
-1,057
-212
1,642
Cash From Other Investing Activities
-11,620
-12,193
-16,609
-12,637
-12,526
-11,125
-10,675
-13,896
-9,079
-24,036
-9,128
-10,071
-6,015
-17,722
-21,287
-21,379
-22,063
Cash Flow from Investing
-7,276
-14,776
-6,298
-7,600
-6,683
-1,015
-4,112
-8,298
-8,296
-7,410
-5,717
-2,625
-9,787
-9,920
-2,779
-4,494
-7,990
Repurchase of Stock
5,546
11,899
8,069
2,965
7,983
5,174
1,274
137
11,624
15,872
5,492
--
7,138
5,041
5,479
2,212
6,869
  Issuance of Debt
-7,412
-4,080
-4,584
-1,478
-4,968
-10,192
-4,432
-3,728
-13,061
-3,837
-6,563
-5,706
-13,010
-2,723
-4,217
-3,468
-4,632
  Payments of Debt
-1,866
7,819
3,485
1,487
3,015
-5,018
-3,158
-3,591
-1,437
12,035
-1,071
-5,706
-5,872
2,318
1,262
-1,256
2,237
Net Issuance of Debt
-4,217
-4,437
-5,048
-5,361
-6,139
-6,185
-6,294
-6,216
-6,124
-6,102
-6,048
-6,116
-6,152
-6,114
-6,140
-6,688
-6,897
Cash Flow for Dividends
-832
-634
-597
-472
-982
-2,853
-2,721
-967
-4,018
-1,060
-1,463
-1,670
-1,017
-3,323
-5,757
-2,384
-1,843
Other Financing
-14,191
-12,028
-8,458
-11,946
-10,789
-15,071
-16,285
-19,072
-19,875
-2,537
-14,299
-16,117
-22,828
-17,039
-13,414
-14,822
-14,493
Cash Flow from Financing
7,275
7,907
7,395
6,550
7,781
7,281
9,135
8,891
7,144
7,014
7,756
7,667
19,636
14,834
8,841
9,935
9,460
Beginning Cash Position
194
66.00
-33.00
223
-442
-514
-1,022
-452
487
-438
-69.00
235
-140
-73.00
69.00
-641
-577
  Effect of Exchange Rate Changes
632
-512
-845
1,231
-500
1,854
-430
-1,747
-130
742
1,759
10,121
-4,802
-5,993
1,094
-399
472
Net Change in Cash
7,907
7,395
6,550
7,781
7,281
9,135
8,705
7,144
7,014
7,756
9,515
17,788
14,834
8,841
9,935
9,536
9,932
Ending Cash Position
-12,184
-12,699
-13,510
-12,898
-13,115
-12,174
-11,477
-10,619
-10,051
-10,344
-10,705
-10,264
-13,106
-16,857
-20,606
-23,783
-24,093
Capital Expenditure
14,065
10,944
10,745
12,693
10,142
16,390
16,075
21,054
18,286
17,409
14,550
25,810
11,075
11,984
15,120
12,660
13,512
Free Cash Flow
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary

Financial Satement

Balance Sheet

Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
Jan22
Jan23
Jan24
Jan25
TTM Fiscal Period
7,907
7,395
6,550
7,781
7,281
9,135
8,705
6,867
6,756
7,722
9,465
17,741
14,760
8,625
9,867
9,037
9,311
  Cash And Cash Equivalents
7,907
7,395
6,550
7,781
7,281
9,135
8,705
6,867
6,756
7,722
9,465
17,741
14,760
8,625
9,867
9,037
9,311
Cash, Cash Equivalents, Marketable Securities
4,144
5,089
5,937
6,768
6,677
6,778
5,624
5,835
5,614
6,283
6,284
6,516
8,280
7,933
8,796
9,975
9,686
  Accounts Receivable
4,144
5,089
5,937
6,768
6,677
6,778
5,624
5,835
5,614
6,283
6,284
6,516
8,280
7,933
8,796
9,975
9,686
Total Receivables
32,713
36,437
40,714
43,803
44,858
45,141
44,469
43,046
43,783
44,269
44,435
44,949
56,511
56,576
54,892
56,435
57,467
  Inventories, Other
32,713
36,437
40,714
43,803
44,858
45,141
44,469
43,046
43,783
44,269
44,435
44,949
56,511
56,576
54,892
56,435
57,467
Total Inventories
3,268
3,091
1,774
1,588
2,369
2,224
1,441
1,941
3,511
3,623
1,622
20,861
1,519
2,521
3,322
4,011
3,789
Other Current Assets
48,032
52,012
54,975
59,940
61,185
63,278
60,239
57,689
59,664
61,897
61,806
90,067
81,070
75,655
76,877
79,458
80,253
Total Current Assets
22,591
24,386
23,499
25,612
26,184
26,261
25,624
24,801
25,298
24,526
24,619
19,308
19,204
19,317
19,562
19,342
--   Land And Improvements
73,657
79,051
84,275
90,686
95,488
97,496
96,845
98,547
101,155
101,006
105,674
97,582
100,376
104,554
111,767
117,973
--   Buildings And Improvements
36,390
40,885
41,916
43,699
45,756
47,851
49,950
51,843
55,082
56,804
60,984
58,940
62,545
67,697
75,140
78,899
--   Machinery, Furniture, Equipment
5,210
4,262
5,312
5,828
5,661
5,787
4,539
4,301
3,619
3,474
3,751
4,741
7,199
10,802
13,390
15,403
--   Construction In Progress
5,669
5,905
5,936
5,899
5,589
5,239
11,096
11,637
12,703
7,078
21,841
17,647
18,109
18,474
19,528
19,711
140,884
  Other Gross PPE
143,517
154,489
160,938
171,724
178,678
182,634
188,054
191,129
197,857
192,888
216,869
198,218
207,433
220,844
239,387
251,328
140,884
Gross Property, Plant and Equipment
-41,210
-46,611
-48,614
-55,043
-60,771
-65,979
-71,538
-76,951
-83,039
-81,493
-89,820
-88,370
-94,809
-101,610
-109,049
-111,624
--   Accumulated Depreciation
102,307
107,878
112,324
116,681
117,907
116,655
116,516
114,178
114,818
111,395
127,049
109,848
112,624
119,234
130,338
139,704
140,884
Property, Plant and Equipment
16,126
16,763
20,651
20,497
19,510
18,102
16,695
17,037
18,242
31,181
31,073
28,983
29,014
28,174
28,113
28,792
28,866
Intangible Assets
16,126
16,763
20,651
20,497
19,510
18,102
16,695
17,037
18,242
31,181
31,073
28,983
29,014
28,174
28,113
28,792
28,866
  Goodwill
3,942
4,129
5,456
5,987
6,149
5,455
6,131
9,921
11,798
14,822
16,567
23,598
22,152
20,134
17,071
12,869
12,369
Other Long Term Assets
122,375
128,770
138,431
143,165
143,566
140,212
139,342
141,136
144,858
157,398
174,689
162,429
163,790
167,542
175,522
181,365
182,119
Total Long-Term Assets
170,407
180,782
193,406
203,105
204,751
203,490
199,581
198,825
204,522
219,295
236,495
252,496
244,860
243,197
252,399
260,823
262,372
Total Assets
30,451
33,676
36,608
38,080
37,415
38,410
38,487
41,433
46,092
47,060
46,973
49,141
55,261
53,742
56,812
58,666
57,700
  Accounts Payable
1,347
157
3,487
5,062
3,520
3,613
3,065
3,737
3,718
3,407
3,319
3,570
4,098
4,152
3,766
4,111
1,465
  Total Tax Payable
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
5,660
  Other Current Payables
18,734
18,701
15,857
15,957
16,239
16,560
17,063
15,982
17,032
17,248
17,267
19,594
20,254
25,213
22,636
23,087
26,085
  Current Accrued Expense
50,532
52,534
55,952
59,099
57,174
58,583
58,615
61,152
66,842
67,715
67,559
72,305
79,613
83,107
83,214
85,864
90,910
Accounts Payable & Accrued Expense
4,573
5,686
6,022
12,392
11,773
6,383
5,453
3,355
8,995
7,101
5,937
3,339
3,213
4,563
4,325
5,666
9,680
  Short-Term Debt
346
336
326
327
309
287
551
565
667
729
2,304
1,957
1,994
2,040
2,212
2,299
2,330
  Short-Term Capital Lease Obligation
4,919
6,022
6,348
12,719
12,082
6,670
6,004
3,920
9,662
7,830
8,241
5,296
5,207
6,603
6,537
7,965
12,010
Short-Term Debt & Capital Lease Obligation
--
--
--
--
--
--
--
1,856
2,017
1,932
1,990
2,310
2,559
2,488
2,664
2,755
--   Current Deferred Revenue
--
--
--
--
--
--
--
1,856
2,017
1,932
1,990
2,310
2,559
2,488
2,664
2,755
-- DeferredTaxAndRevenue
92.00
47.00
--
--
89.00
--
--
--
--
--
--
12,734
--
--
--
--
-- Other Current Liabilities
55,543
58,603
62,300
71,818
69,345
65,253
64,619
66,928
78,521
77,477
77,790
92,645
87,379
92,198
92,415
96,584
102,920
Total Current Liabilities
33,231
40,692
44,070
38,394
41,771
40,889
38,214
36,015
30,045
43,520
43,714
41,194
34,864
34,649
36,132
33,401
36,520
  Long-Term Debt
3,170
3,150
3,009
3,023
2,788
2,606
5,816
6,003
6,780
6,683
20,478
16,756
17,252
17,671
18,652
18,748
18,675
  Long-Term Capital Lease Obligation
36,401
43,842
47,079
41,417
44,559
43,495
44,030
42,018
36,825
50,203
64,192
57,950
52,116
52,320
54,784
52,149
55,195
Long-Term Debt & Capital Lease Obligation
0.59
0.73
0.75
0.71
0.74
0.62
0.62
0.59
0.60
0.80
0.97
0.78
0.69
0.77
0.73
0.66
0.80
Debt-to-Equity
5,508
6,682
7,862
7,613
8,017
8,805
7,321
9,344
8,354
11,981
12,961
14,370
13,474
14,688
14,629
14,398
13,609
Other Long-Term Liabilities
41,909
50,524
54,941
49,030
52,576
52,300
51,351
51,362
45,179
62,184
77,153
72,320
65,590
67,008
69,413
66,547
68,804
Total Long-Term Liabilities
97,452
109,127
117,241
120,848
121,921
117,553
115,970
118,290
123,700
139,661
154,943
164,965
152,969
159,206
161,828
163,131
171,724
Total Liabilities
378
352
342
332
323
323
317
305
295
288
284
282
276
808
805
802
799
Common Stock
66,357
63,967
68,691
72,978
76,566
85,777
90,021
89,354
85,107
80,785
83,943
88,763
86,904
83,135
89,814
98,313
90,849
Retained Earnings
-70.00
646
-1,410
-587
-2,996
-7,168
-11,597
-14,232
-10,181
-11,542
-12,805
-11,766
-8,766
-11,680
-11,302
-13,605
-13,296
Accumulated other comprehensive income (loss)
3,803
3,577
3,692
3,620
2,362
2,462
1,805
2,371
2,648
2,965
3,247
3,646
4,839
4,430
4,544
5,503
5,441
Additional Paid-In Capital
70,468
68,542
71,315
76,343
76,255
81,394
80,546
77,798
77,869
72,496
74,669
80,925
83,253
76,693
83,861
91,013
83,793
Total Stockholders Equity
2,487
3,113
4,850
5,914
6,575
4,543
3,065
2,737
2,953
7,138
6,883
6,606
8,638
7,298
6,710
6,679
6,855
Minority Interest
72,955
71,655
76,165
82,257
82,830
85,937
83,611
80,535
80,822
79,634
81,552
87,531
91,891
83,991
90,571
97,692
90,648
Total Equity
0.41
0.38
0.37
0.38
0.37
0.40
0.40
0.39
0.38
0.33
0.32
0.32
0.34
0.32
0.33
0.35
0.32
Equity-to-Asset
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary

Valuation Ratios

Valuation Ratios

Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
Jan22
Jan23
Jan24
Jan25
TTM Fiscal Period
14.40
12.54
13.57
13.94
15.30
16.83
14.52
15.24
32.51
42.42
22.06
29.58
28.77
33.77
28.84
40.73
41.79
PE Ratio
14.33
13.42
13.55
13.96
14.62
16.76
14.46
15.45
24.12
19.51
23.23
25.63
21.65
22.87
24.85
39.11
38.80
PE Ratio without NRI
12.52
16.11
15.63
15.86
20.30
15.29
12.13
8.97
19.72
26.66
17.27
14.34
40.84
23.17
24.38
41.79
42.89
Price-to-Owner-Earnings
2.87
2.88
2.94
3.04
3.17
3.37
2.61
2.61
4.04
3.83
4.29
4.90
4.64
5.07
5.29
8.65
9.32
PB Ratio
3.72
3.81
4.14
4.15
4.25
4.33
3.29
3.35
5.28
6.73
7.35
7.63
7.12
8.01
7.96
12.66
14.22
Price-to-Tangible-Book
14.73
18.80
19.84
18.68
24.17
16.81
13.28
9.87
17.55
16.21
22.57
15.50
35.41
32.82
29.54
62.64
58.45
Price-to-Free-Cash-Flow
7.89
8.71
8.79
9.26
10.54
9.65
7.75
6.56
11.32
10.17
13.00
11.09
16.22
13.64
12.50
21.76
21.00
Price-to-Operating-Cash-Flow
0.51
0.49
0.48
0.51
0.51
0.57
0.44
0.43
0.64
0.55
0.63
0.72
0.68
0.64
0.69
1.16
1.15
PS Ratio
1.46
1.44
1.45
1.49
1.58
2.54
4.59
48.28
--
--
--
6.69
4.75
4.25
7.91
8.18
7.46
PEG Ratio
0.58
0.58
0.59
0.61
0.62
0.66
0.53
0.50
0.71
0.65
0.75
0.80
0.76
0.73
0.77
1.24
1.23
EV-to-Revenue
7.60
7.27
7.52
7.81
8.29
8.78
7.56
7.44
12.77
13.70
11.58
13.18
13.95
14.82
13.79
20.12
20.54
EV-to-EBITDA
9.85
9.43
9.81
10.18
11.02
11.73
10.51
10.73
20.48
24.29
17.19
19.60
21.13
23.30
20.46
29.11
30.27
EV-to-EBIT
16.93
22.18
24.33
22.38
29.32
19.52
15.81
11.65
19.54
19.26
26.83
17.37
39.48
37.22
33.19
66.78
62.54
EV-to-FCF
10.15
10.60
10.19
9.82
9.07
8.53
9.51
9.32
4.88
4.12
5.82
5.10
4.73
4.29
4.89
3.44
3.30
Earnings Yield (Joel Greenblatt) %
13.75
13.93
14.17
14.31
14.09
11.26
9.55
7.70
3.10
-0.33
2.41
8.70
9.05
9.51
6.66
6.75
7.60
Forward Rate of Return (Yacktman) %
19.73
18.53
18.16
18.88
18.71
20.28
15.15
14.48
22.86
20.98
24.05
29.45
27.61
27.83
31.40
53.83
52.83
Shiller PE Ratio
4.14
3.96
3.94
4.14
4.11
4.42
3.23
3.05
4.62
4.00
4.58
5.43
4.93
4.76
5.31
9.18
9.06
Cyclically Adjusted PB Ratio
0.67
0.65
0.64
0.66
0.66
0.71
0.52
0.49
0.73
0.63
0.70
0.82
0.74
0.70
0.76
1.29
1.26
Cyclically Adjusted PS Ratio
36.89
32.33
30.19
29.99
29.71
28.82
19.61
16.61
23.45
19.71
22.65
24.74
22.85
22.27
24.25
43.24
43.15
Cyclically Adjusted Price-to-FCF
2.04
2.16
2.38
2.27
2.52
2.26
2.95
3.00
1.91
2.17
1.85
1.54
1.57
1.56
1.38
0.85
0.91
Dividend Yield %
6.95
5.55
5.12
5.48
4.20
5.97
7.66
10.35
5.81
6.26
4.54
6.51
2.87
3.09
3.41
1.61
1.73
FCF Yield %

Valuation and Quality

Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
Jan22
Jan23
Jan24
Jan25
TTM Fiscal Period
202,286
197,142
209,728
231,814
241,440
274,315
209,830
203,424
314,683
277,907
320,572
396,322
386,015
388,449
443,641
787,636
780,325
Market Cap
238,186
242,724
261,455
284,083
297,375
319,888
254,224
245,232
357,367
335,356
390,423
448,433
437,216
446,045
501,805
845,392
845,074
Enterprise Value
17.81
18.69
20.45
23.32
24.89
28.33
22.12
22.25
35.53
31.94
38.16
46.83
46.60
47.96
55.08
98.16
97.78
Month End Stock Price
-8.10
-9.94
-11.27
-11.97
-12.50
-11.66
-11.63
-12.48
-13.54
-15.99
-18.14
-18.18
-17.73
-19.49
-19.70
-20.04
-21.20
Net Cash per Share
-4.57
-5.71
-6.55
-6.72
-6.94
-6.07
-6.20
-6.93
-7.56
-9.76
-11.91
-9.63
-9.72
-11.22
-11.38
-11.26
-12.31
Net Current Asset Value
-6.39
-7.85
-8.85
-9.25
-9.67
-8.81
-8.84
-9.65
-10.59
-12.90
-14.93
-14.94
-13.57
-15.26
-15.47
-15.59
-16.69
Net-Net Working Capital
13.83
15.74
18.08
20.24
21.57
23.03
21.96
22.44
24.37
24.96
26.54
29.46
30.49
28.78
30.42
29.99
28.34
Intrinsic Value: Projected FCF
27.11
24.24
25.48
25.89
26.30
26.60
26.02
26.49
27.82
29.29
31.27
34.53
37.06
42.03
47.62
54.20
55.10
Median PS Value
12.16
13.02
14.13
15.60
15.72
11.15
--
--
--
--
--
--
--
11.26
--
--
14.59
Peter Lynch Fair Value
11.57
12.40
12.96
14.53
14.97
15.76
15.22
14.67
14.94
13.23
13.85
15.88
17.81
16.81
18.58
20.93
19.75
Graham Number
13.88
15.61
17.92
20.37
21.71
24.37
26.56
28.66
30.20
28.89
28.17
32.59
34.56
34.87
36.64
37.49
36.73
Earnings Power Value (EPV)
4.60
4.34
4.29
4.35
4.43
4.81
4.51
4.43
4.73
4.18
4.19
4.43
4.60
4.63
4.96
6.32
6.07
Altman Z-Score
7.00
6.00
4.00
6.00
5.00
9.00
5.00
7.00
6.00
5.00
5.00
7.00
6.00
6.00
8.00
8.00
7.00
Piotroski F-Score
-2.75
-2.48
-2.46
-2.56
-2.68
-2.77
-2.97
-2.82
-2.84
-2.48
-2.73
-2.87
-2.31
-2.83
-2.74
-2.70
-2.78
Beneish M-Score
0.65
0.67
0.68
0.67
0.65
0.62
0.61
0.60
0.61
0.64
0.66
0.56
0.53
0.55
0.58
0.59
0.57
Scaled Net Operating Assets
-0.15
2.73
4.16
1.99
2.58
-0.53
-1.09
-2.08
-4.59
1.35
-0.53
-4.95
-1.83
0.23
0.42
1.68
1.25
Sloan Ratio %
0.86
0.89
0.88
0.83
0.88
0.97
0.93
0.86
0.76
0.80
0.79
0.97
0.93
0.82
0.83
0.82
0.78
Current Ratio
0.28
0.27
0.23
0.22
0.24
0.28
0.24
0.22
0.20
0.23
0.22
0.49
0.28
0.21
0.24
0.24
0.22
Quick Ratio
0.14
0.13
0.11
0.11
0.10
0.14
0.13
0.10
0.09
0.10
0.12
0.19
0.17
0.09
0.11
0.09
0.09
Cash Ratio
11.62
11.58
11.42
12.33
11.51
11.03
9.46
9.62
8.77
9.36
7.91
9.74
13.01
9.60
10.07
10.76
11.18
Interest Coverage
18.34
19.19
20.49
25.72
27.07
30.16
29.11
24.77
36.52
35.19
40.43
50.93
50.48
53.29
56.59
98.65
105
Highest Stock Price
15.47
16.00
16.14
19.12
22.92
24.22
18.81
21.05
22.08
27.47
31.29
34.68
42.51
39.43
45.66
56.10
66.67
Lowest Stock Price
3.30
7.13
2.79
3.04
2.44
0.15
2.04
3.61
3.15
1.76
3.45
-0.75
2.13
2.21
0.57
0.37
0.78
Shares Buyback Ratio %
3.60
7.50
3.00
3.28
2.77
0.37
1.96
4.08
2.64
2.67
1.78
0.66
2.54
2.55
0.63
0.57
1.02
Buyback Yield %
2.87
9.20
11.82
7.59
4.91
3.22
0.08
4.18
6.47
5.08
4.59
7.50
3.97
9.50
7.25
5.42
4.58
YoY Rev. per Sh. Growth
9.47
20.45
1.14
11.02
-2.75
3.44
-9.51
-4.14
-25.14
-31.11
130
-8.50
2.34
-12.35
34.51
26.18
0.13
YoY EPS Growth
7.24
12.50
9.99
7.32
1.73
2.86
-6.92
1.23
-12.18
-10.58
41.36
1.71
-6.50
-1.53
22.33
15.87
0.51
YoY EBITDA Growth
9.83
9.30
9.32
9.34
9.23
6.60
3.15
0.32
-1.86
-6.46
-2.87
3.83
4.56
5.38
3.14
4.78
5.20
5-Year EBITDA Growth Rate
11,598
10,968
10,380
10,122
9,807
9,690
9,621
9,303
8,985
8,787
8,550
8,493
8,376
8,171
8,077
8,041
8,011
Shares Outstanding (Basic Average)
11,358
10,548
10,254
9,942
9,699
9,684
9,486
9,144
8,856
8,700
8,400
8,463
8,283
8,100
8,054
8,024
7,980
Shares Outstanding (EOP)
0.27
0.40
0.33
0.37
0.35
0.28
0.19
-0.03
0.19
0.64
0.65
0.42
0.48
0.53
0.56
0.65
0.70
Beta
03/30/10
03/30/11
03/27/12
03/26/13
03/21/14
04/01/15
03/30/16
03/31/17
03/30/18
03/28/19
03/20/20
03/19/21
03/18/22
03/17/23
03/15/24
03/14/25
  Filing Date
03/27/12
03/26/13
03/21/14
04/01/15
03/30/16
03/31/17
03/30/18
03/28/19
03/20/20
03/19/21
03/18/22
03/17/23
03/15/24
03/14/25
03/14/25
03/14/25
  Restated Filing Date
02/22/11
02/21/12
02/21/13
02/20/14
02/19/15
02/18/16
02/21/17
02/20/18
02/19/19
02/18/20
02/18/21
02/17/22
02/21/23
02/20/24
02/20/25
  Earnings Release Date
292,983
283,633
275,525
263,499
255,758
249,876
243,327
236,471
229,858
223,968
217,840
214,673
209,870
205,465
200,344
194,162
194,162
Number of Shareholders
2.10M
2.10M
2.20M
2.20M
2.20M
2.20M
2.30M
2.30M
2.30M
2.20M
2.20M
2.30M
2.30M
2.10M
2.10M
2.10M
2.10M
Number of Employees
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary

Business & Geographic Segmentation

Business Segments

Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
Jan22
Jan23
Jan24
Jan25
TTM Fiscal Period
--
--
--
--
--
--
298,378
307,833
318,477
331,666
341,004
369,963
393,247
422,398
443,802
465,009
469,138
Walmart US
--
--
--
--
--
--
123,408
116,119
118,068
120,824
120,130
121,360
100,959
102,604
116,049
123,363
123,663
Walmart International
--
--
--
--
--
--
56,828
57,365
59,216
57,839
58,792
63,910
73,556
86,253
88,230
92,561
93,797
Sam's Club
--
--
--
--
--
--
--
--
--
--
--
--
--
34.00
44.00
52.00
52.00
Corporate and support
--
--
--
--
--
--
3,516
4,556
4,582
4,076
4,038
3,918
4,992
5,408
5,488
--
-1,564
Membership and other income

Geographic Segments

Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
Jan22
Jan23
Jan24
Jan25
TTM Fiscal Period
--
--
--
--
--
--
357,559
367,784
380,580
392,265
402,532
436,649
470,295
508,685
532,076
557,622
-- US Operations
--
--
--
--
--
--
124,571
118,089
119,763
122,140
121,432
122,502
102,459
102,604
116,049
123,363
-- Non-US Operations
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jul 01, 2025
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT/summary

Explanation

1. Predictability Rank

GuruFocus Predictability Rank is a proprietary ranking of the consistency of a business. We rank the predictability of companies based on the consistency of their revenue per share and EBITDA (earnings before interest, tax, depreciation and amortization) per share over the past 10 fiscal years. Our study found that there is a strong correlation between the stock performance and the predictability of a business. Over the long term, companies with higher predictability also have better stock performance.

The rank is from 1-star to 5-star, with 5-star as the best.

2. Financial Strength

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

  1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
  2. Debt to revenue ratio. The lower, the better.
  3. Altman Z-Score.

The rank is from 1 to 10, with 10 as the highest.

A Financial Strength rank of 8 or above indicates good financial strength; between 4-7 indicates fair financial strength; 3 or below means poor financial strength.

3. Profitability Rank

GuruFocus Profitability Rank indicates how profitable a company is and how likely it is that the company's business will stay that way. It is based on these factors:

  1. Operating Margin %.
  2. Piotroski F-Score.
  3. Trend of the Operating Margin percentage (five-year average). A company with an uptrend in profit margin will have a higher rank.
  4. Consistency of the profitability.
  5. Predictability Rank.

The rank is from 1 to 10, with 10 as the highest.

A Profitability Rank of 8 or above indicates good profitability; between 4-7 indicates fair profitability; 3 or below means poor profitability.

4. Peter Lynch Chart

In Peter Lynch's excellent book, "One Up on Wall Street," he used many charts to illustrate the valuation of stocks. “A quick way to tell if a stock is overpriced is to compare the price line to the earnings line. If you bought familiar growth companies – such as Shoney’s, The Limited, or Marriott – when the stock price fell well below the earnings line, and sold them when the stock price rose dramatically above it, the chances are you’d do pretty well.”

The original Peter Lynch Chart does have limitations due to the right side price scale is pre-set at 15 times the earnings scale on the left side. When the stock price and earnings line coincide, the price-to-earnings ratio is always 15 times. Instead of using the fixed PE Ratio of 15, our approach is using 15-year historical median PE without NRI Ratio for each stock.

The Peter Lynch Chart with earnings line at median PE without NRI ratio works well for the companies with steady growth and earnings trends, or the stalwarts, as coined by Lynch. These companies tend to be found in sectors such as consumer staples, healthcare, and utilities, where the consumption of the product or service is relatively independent of economic conditions. It does not work well with the sectors that are cyclical: industrials, chemicals, durable goods, and so forth.

5. GF Value

Based on the relationship between the current stock price and the GF Value, GuruFocus provides the following 6 evaluations:

  1. Possible Value Trap, Think Twice
  2. Significantly Overvalued
  3. Modestly Overvalued
  4. Fairly Valued
  5. Modestly Undervalued
  6. Significantly Undervalued
There is only a sufficient margin of safety when the stock is undervalued.

Disclaimer

GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.