WMT

Walmart Inc.

Consumer DiscretionaryCIK 0000104169

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Market Cap
$1.05T
P/E (TTM)
46.3x
Rev Growth (TTM)
+5.9%
Net Margin (TTM)
3.1%
FCF Yield (TTM)
1.2%
FCF Margin (TTM)
1.7%

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LATEST EARNINGS

Q4 FY2026
4 months ago
View source
Revenue
$190.66B
+5.6%
Net Income
$4.24B
-19.4%
EPS
$0.53
-18.5%
Gross
24.0% +0.1%
Operating
4.6% +0.2%
Net
2.2% -0.7%
  • Total revenues increased 5.6% to $190.7 billion, with constant currency growth of 4.9%.
  • Operating income grew 10.8% to $8.7 billion, or 10.5% adjusted in constant currency, outpacing sales growth.
  • Global eCommerce sales grew 24%, with significant strength in store-fulfilled pickup & delivery, marketplace, and advertising.
  • Walmart U.S. comparable sales grew 4.6%, driven by increased customer transactions and broad-based share gains.

Cash Flow Health

Free Cash Flow7/8 positive
TTM$12.6B
Q1 '27
$-1.9B-132%
Q4 '26
$6.1B+224%
FCF Margin
TTM1.7%
Q1 '27-1.1%-134%
Sector: 2.3%Below Avg
OCF Margin5.6%
OCF/NI1.80x
CapEx Coverage1.4x
FCF Yield1.2%
FCF Growth (2Y)-14%
Cash Conversion Cycle
3 days
DSO: 5+DIO: 41DPO: 42

Capital Allocation & Returns

Growth Focused
Total Shareholder YieldTTM
TTM1.3%
Div Yield0.7%
+
Buyback (TTM)0.5%

Prioritizing reinvestment over distributions

Dividend & Payout Metrics
Dividend Yield (TTM)0.7%
FCF Payout Ratio60.5%
Free Cash Flow (TTM)$12.6B
Stock Repurchases (TTM)$5.6B
Capital Return / FCF105.3%
Est. Dividends Paid (TTM)$7.6B
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
15.1%
Stable
-0.0% YoY-1.9%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
3.1%
8Q: 3.3%
Asset Turnover
2.59x
8Q: 2.64x
Leverage (1+D/E)
1.55x
D/E: 0.55x
DuPont: 12.6%15.1% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
5.57x
8Q:5.74x
-64.6%
Invested Cap Turn
4.81x
8Q:4.89x
-24.2%
CapEx Intensity
18.8%
8Q:17.8%
CapEx/Depreciation
1.93x
Asset-based ROIC formula

Valuation Analysis

Fair Value
Price-to-EarningsTTM
46.3x
Volatile
8Q: 146.9x+6699%
Multiple expansion without fundamental improvement
Valuation Lenses
Earnings
46.3x
vs sector
Cash Flow
86.6x
EV/FCF vs
Growth-Adj
2.1xPEG
Expensive for growth
Quality-Adj
3.1P/E per %ROIC
ROIC: 15.1%
Shareholder Returns
Dividend
0.7%
Buyback
0.5%
Total Yield
1.3%
Market Cap$1.05T
EV$1.09T
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
97/100
Exceptional

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)Above Avg
24.3%
8Q:
Return on Invested Capital (ROIC)Top 25%
15.1%
8Q:
Flat
vs Sector:0.1%

DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)

NOPAT Margin: 3.1%
Asset Turnover: 2.59x

Earnings Quality

Cash Conversion

1.80x

OCF / Net Income

FCF Consistency

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin25.0%

Capital Efficiency

Invested Capital Turnover4.81x

Working Capital

Cash Conversion Cycle3 days

Growth Quality & Momentum

Low Quality
Growth Quality Score
49/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%

Growth Rates

Revenue Growth YoY
5.9%
OpInc Growth YoY
5.0%
EPS Growth YoY
21.8%
FCF 3Y CAGR
-13.6%

Growth Quality Analysis

Working Capital Drag: FCF growth lagging revenue by 19.5%
Sustainability Index: 3.0/10 - Growth sustainability concerns

Margin Quality & Sustainability

Low Quality
Profitability Cascade
Gross
25.0%
Operating
4.2%
Below Avg in sector
Net
3.1%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
FCF vs Net Gap
-1.4 pts
FCF: 1.7% | Net: 3.1%

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Adequate
Net Debt / EBITDA
Net Debt: $40.73B
Interest Coverage
Leverage Metrics
Debt-to-Equity
0.55x
Balance sheet risk & solvency analysis