Walmart Inc. (WMT) Financial Ratios
30 years of historical data (1997–2026) · Consumer Defensive · Discount Stores
EV/EBITDA
↑
22.50
↑+38% vs avg
5yr avg: 16.35
30Y Low7.5·High24.8
P/FCF
↑
62.59
↑+39% vs avg
5yr avg: 44.89
30Y Low9.9·High163.0
P/B Ratio
↑
8.85
↑+43% vs avg
5yr avg: 6.20
30Y Low2.6·High9.5
ROE
↑
21.5%
↓+21% vs avg
5yr avg: 17.7%
30Y Low8%·High24%
Debt/EBITDA
↓
1.52
↓-4% vs avg
5yr avg: 1.59
30Y Low1.3·High2.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
WMT Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Walmart Inc. trades at 42.9x earnings, 22% above its 5-year average of 35.1x, sitting at the 90th percentile of its historical range. Compared to the Consumer Defensive sector median P/E of 18.8x, the stock trades at a premium of 128%. On a free-cash-flow basis, the stock trades at 62.6x P/FCF, 39% above the 5-year average of 44.9x.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $934.0B | $955.7B | $793.2B | $446.6B | $393.4B | $392.1B | $400.0B | $328.3B | $282.2B | $320.8B | $207.7B |
| Enterprise Value | $990.4B | $1.01T | $844.3B | $498.1B | $443.7B | $434.7B | $445.5B | $391.3B | $332.5B | $360.6B | $246.8B |
| P/E Ratio → | 42.92 | 43.64 | 40.73 | 28.84 | 33.77 | 28.77 | 28.91 | 22.06 | 42.59 | 32.60 | 15.24 |
| P/S Ratio | 1.31 | 1.34 | 1.16 | 0.69 | 0.64 | 0.68 | 0.72 | 0.63 | 0.55 | 0.64 | 0.43 |
| P/B Ratio | 8.85 | 9.00 | 8.12 | 4.93 | 4.68 | 4.27 | 4.57 | 4.03 | 3.54 | 3.97 | 2.58 |
| P/FCF | 62.59 | 64.04 | 62.66 | 29.54 | 32.82 | 35.41 | 15.50 | 22.57 | 16.21 | 17.55 | 9.93 |
| P/OCF | 22.47 | 22.99 | 21.77 | 12.50 | 13.64 | 16.22 | 11.09 | 13.00 | 10.17 | 11.32 | 6.59 |
P/E links to full P/E history page with 30-year chart
WMT EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Walmart Inc.'s enterprise value stands at 22.5x EBITDA, 38% above its 5-year average of 16.4x. The Consumer Defensive sector median is 11.0x, placing the stock at a 104% premium on an enterprise-value basis.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.42 | 1.24 | 0.77 | 0.73 | 0.76 | 0.80 | 0.75 | 0.65 | 0.72 | 0.51 |
| EV / EBITDA | 22.50 | 22.99 | 19.95 | 12.82 | 14.14 | 11.88 | 13.22 | 12.40 | 10.19 | 11.64 | 7.51 |
| EV / EBIT | 33.21 | 31.37 | 29.08 | 20.30 | 23.18 | 21.01 | 19.47 | 17.23 | 24.00 | 20.66 | 10.79 |
| EV / FCF | — | 67.82 | 66.69 | 32.94 | 37.02 | 39.25 | 17.26 | 26.89 | 19.10 | 19.72 | 11.80 |
WMT Profitability
Margins and return-on-capital ratios measuring operating efficiency
Walmart Inc. earns an operating margin of 4.2%, roughly in line with the Consumer Defensive sector average. ROE of 21.5% indicates solid capital efficiency, compared to the sector median of 6.5%. ROIC of 14.4% represents solid returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.9% | 24.9% | 24.9% | 24.4% | 24.1% | 25.1% | 24.8% | 24.7% | 25.1% | 25.4% | 25.6% |
| Operating Margin | 4.2% | 4.2% | 4.3% | 4.2% | 3.3% | 4.5% | 4.0% | 3.9% | 4.3% | 4.1% | 4.7% |
| Net Profit Margin | 3.1% | 3.1% | 2.9% | 2.4% | 1.9% | 2.4% | 2.4% | 2.8% | 1.3% | 2.0% | 2.8% |
Return on Capital
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 21.5% | 21.5% | 20.6% | 17.8% | 13.3% | 15.2% | 16.0% | 18.5% | 8.3% | 12.2% | 16.6% |
| ROA | 8.0% | 8.0% | 7.6% | 6.3% | 4.8% | 5.5% | 5.5% | 6.5% | 3.1% | 4.9% | 6.8% |
| ROIC | 14.4% | 14.4% | 15.1% | 14.7% | 11.4% | 14.5% | 12.2% | 11.2% | 13.1% | 12.8% | 14.0% |
| ROCE | 17.5% | 17.5% | 18.1% | 17.4% | 13.2% | 16.4% | 14.2% | 13.7% | 16.4% | 15.8% | 17.1% |
WMT Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Walmart Inc. carries a Debt/EBITDA ratio of 1.5x, which is manageable (56% below the sector average of 3.5x). Net debt stands at $56.4B ($67.1B total debt minus $10.7B cash). Interest coverage of 11.5x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.63 | 0.63 | 0.62 | 0.68 | 0.70 | 0.62 | 0.72 | 0.89 | 0.73 | 0.58 | 0.57 |
| Debt / EBITDA | 1.52 | 1.52 | 1.42 | 1.58 | 1.88 | 1.57 | 1.88 | 2.30 | 1.78 | 1.50 | 1.40 |
| Net Debt / Equity | — | 0.53 | 0.52 | 0.57 | 0.60 | 0.46 | 0.52 | 0.77 | 0.63 | 0.49 | 0.49 |
| Net Debt / EBITDA | 1.28 | 1.28 | 1.21 | 1.32 | 1.60 | 1.16 | 1.35 | 2.00 | 1.54 | 1.28 | 1.19 |
| Debt / FCF | — | 3.78 | 4.03 | 3.40 | 4.20 | 3.84 | 1.76 | 4.33 | 2.89 | 2.17 | 1.87 |
| Interest Coverage | 11.53 | 11.53 | 10.64 | 9.14 | 9.00 | 10.38 | 9.88 | 8.74 | 5.91 | 7.49 | 9.66 |
WMT Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.79x is below 1.0, meaning current liabilities exceed current assets — though the company's $10.7B cash position helps mitigate short-term liquidity concerns. The quick ratio of 0.24x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.79 | 0.79 | 0.82 | 0.83 | 0.82 | 0.93 | 0.97 | 0.79 | 0.80 | 0.76 | 0.86 |
| Quick Ratio | 0.24 | 0.24 | 0.24 | 0.24 | 0.21 | 0.28 | 0.49 | 0.22 | 0.23 | 0.20 | 0.22 |
| Cash Ratio | 0.10 | 0.10 | 0.09 | 0.11 | 0.09 | 0.17 | 0.19 | 0.12 | 0.10 | 0.09 | 0.10 |
| Asset Turnover | — | 2.51 | 2.61 | 2.57 | 2.51 | 2.34 | 2.21 | 2.22 | 2.35 | 2.45 | 2.44 |
| Inventory Turnover | 9.10 | 9.10 | 9.07 | 8.93 | 8.20 | 7.59 | 9.35 | 8.88 | 8.70 | 8.53 | 8.39 |
| Days Sales Outstanding | — | 5.72 | 5.35 | 4.95 | 4.74 | 5.28 | 4.25 | 4.38 | 4.46 | 4.10 | 4.38 |
WMT Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Walmart Inc. returns 1.7% to shareholders annually — split between a 0.8% dividend yield and 0.9% buyback yield. The payout ratio of 34.3% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 2.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.8% | 0.8% | 0.8% | 1.4% | 1.6% | 1.6% | 1.5% | 1.8% | 2.2% | 1.9% | 3.0% |
| Payout Ratio | 34.3% | 34.3% | 34.4% | 39.6% | 52.3% | 45.0% | 45.3% | 40.6% | 91.5% | 62.1% | 45.6% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.3% | 2.3% | 2.5% | 3.5% | 3.0% | 3.5% | 3.5% | 4.5% | 2.3% | 3.1% | 6.6% |
| FCF Yield | 1.6% | 1.6% | 1.6% | 3.4% | 3.0% | 2.8% | 6.5% | 4.4% | 6.2% | 5.7% | 10.1% |
| Buyback Yield | 0.9% | 0.8% | 0.6% | 0.6% | 2.5% | 2.5% | 0.7% | 1.7% | 2.6% | 2.6% | 4.0% |
| Total Shareholder Yield | 1.7% | 1.6% | 1.4% | 2.0% | 4.1% | 4.1% | 2.2% | 3.6% | 4.8% | 4.5% | 7.0% |
| Shares Outstanding | — | $8.0B | $8.1B | $8.1B | $8.2B | $8.4B | $8.5B | $8.6B | $8.8B | $9.0B | $9.3B |
Peer Comparison
Compare WMT with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 WMTYou | $934B | 42.9 | 22.5 | 62.6 | 24.9% | 4.2% | 21.5% | 14.4% | 1.5 |
 TGT | $59B | 16.1 | 9.3 | 20.9 | 25.4% | 4.6% | 24.0% | 12.0% | 2.5 |
 COST | $422B | 52.2 | 32.5 | 53.8 | 12.8% | 3.8% | 30.7% | 34.5% | 0.6 |
 KR | $35B | 36.8 | 9.7 | 10.4 | 23.3% | 1.3% | 14.3% | 5.0% | 4.2 |
 BJ | $11B | 19.5 | 11.8 | 32.9 | 18.6% | 3.9% | 28.6% | 13.5% | 2.3 |
 SFM | $8B | 15.2 | 9.3 | 16.2 | 37.1% | 7.8% | 38.4% | 17.8% | 2.0 |
 AMZN | $2.6T | 34.1 | 18.5 | 341.6 | 50.3% | 11.2% | 22.3% | 14.7% | 1.0 |
 EBAY | $49B | 24.9 | 21.3 | 29.8 | 71.5% | 20.5% | 41.6% | 16.8% | 2.9 |
 DLTR | $21B | 18.8 | 11.3 | 15.4 | 36.4% | 8.2% | 33.2% | 13.2% | 2.1 |
 DG | $25B | 16.6 | 12.2 | 10.5 | 30.7% | 5.2% | 19.0% | 7.0% | 4.8 |
 ACI | $7B | 8.2 | 5.1 | 9.2 | 27.7% | 1.9% | 31.3% | 6.8% | 3.5 |
| Consumer Defensive Median | — | 18.8 | 11.0 | 15.3 | 40.8% | 3.5% | 6.5% | 5.7% | 3.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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WMT — Frequently Asked Questions
Quick answers to the most common questions about buying WMT stock.
What is Walmart Inc.'s P/E ratio?
Walmart Inc.'s current P/E ratio is 42.9x. The historical average is 25.7x. This places it at the 90th percentile of its historical range.
What is Walmart Inc.'s EV/EBITDA?
Walmart Inc.'s current EV/EBITDA is 22.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.6x.
What is Walmart Inc.'s ROE?
Walmart Inc.'s return on equity (ROE) is 21.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 19.2%.
Is WMT stock overvalued?
Based on historical data, Walmart Inc. is trading at a P/E of 42.9x. This is at the 90th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Walmart Inc.'s dividend yield?
Walmart Inc.'s current dividend yield is 0.80% with a payout ratio of 34.3%.
What are Walmart Inc.'s profit margins?
Walmart Inc. has 24.9% gross margin and 4.2% operating margin.
How much debt does Walmart Inc. have?
Walmart Inc.'s Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.