30 years of historical data (1997–2026) · Consumer Defensive · Discount Stores
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Walmart Inc. trades at 46.9x earnings, 33% above its 5-year average of 35.1x, sitting at the 100th percentile of its historical range. Compared to the Consumer Defensive sector median P/E of 21.6x, the stock trades at a premium of 117%. On a free-cash-flow basis, the stock trades at 24.5x P/FCF, 33% below the 5-year average of 36.7x.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.02T | $955.7B | $793.2B | $446.6B | $393.4B | $392.1B | $400.0B | $328.3B | $282.2B | $320.8B | $207.7B |
| Enterprise Value | $1.08T | $1.01T | $844.3B | $498.1B | $443.7B | $434.7B | $445.5B | $391.3B | $332.5B | $360.6B | $246.8B |
| P/E Ratio → | 46.87 | 43.64 | 40.73 | 28.84 | 33.77 | 28.77 | 28.91 | 22.06 | 42.59 | 32.60 | 15.24 |
| P/S Ratio | 1.43 | 1.34 | 1.16 | 0.69 | 0.64 | 0.68 | 0.72 | 0.63 | 0.55 | 0.64 | 0.43 |
| P/B Ratio | 10.27 | 9.57 | 8.12 | 4.93 | 4.68 | 4.27 | 4.57 | 4.03 | 3.54 | 3.97 | 2.58 |
| P/FCF | 24.53 | 22.99 | 62.66 | 29.54 | 32.82 | 35.41 | 15.50 | 22.57 | 16.21 | 17.55 | 9.93 |
| P/OCF | 24.53 | 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
Enterprise-value multiples — capital-structure-neutral measures of total business value
Walmart Inc.'s enterprise value stands at 24.4x EBITDA, 49% above its 5-year average of 16.4x. The Consumer Defensive sector median is 12.3x, placing the stock at a 98% 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 | 24.44 | 22.99 | 19.95 | 12.82 | 14.14 | 11.88 | 13.22 | 12.40 | 10.19 | 11.64 | 7.51 |
| EV / EBIT | 36.08 | 33.93 | 29.08 | 20.30 | 23.18 | 21.01 | 19.47 | 17.23 | 24.00 | 20.66 | 10.79 |
| EV / FCF | — | 24.35 | 66.69 | 32.94 | 37.02 | 39.25 | 17.26 | 26.89 | 19.10 | 19.72 | 11.80 |
Margins and return-on-capital ratios measuring operating efficiency
Walmart Inc. earns an operating margin of 4.2%, above the Consumer Defensive sector average of 1.1%. ROE of 22.2% indicates solid capital efficiency, compared to the sector median of 7.8%. ROIC of 14.7% represents solid returns on invested capital versus a sector median of 5.7%.
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% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 22.2% | 22.2% | 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 | 14.7% | 14.7% | 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% |
Solvency and debt-coverage ratios — lower is generally safer
Walmart Inc. carries a Debt/EBITDA ratio of 1.5x, which is manageable (53% below the sector average of 3.2x). Net debt stands at $56.4B ($67.1B total debt minus $10.7B cash). Interest coverage of 81.0x 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 | 0.67 | 0.67 | 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 | — | 0.56 | 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 | — | 1.36 | 4.03 | 3.40 | 4.20 | 3.84 | 1.76 | 4.33 | 2.89 | 2.17 | 1.87 |
| Interest Coverage | 81.05 | 81.05 | 10.76 | 10.07 | 9.60 | 13.01 | 9.74 | 7.91 | 9.36 | 8.77 | 9.62 |
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 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Walmart Inc. returns 1.5% to shareholders annually — split between a 0.7% dividend yield and 0.8% buyback yield. The payout ratio of 34.3% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 2.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
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 | 0.7% | 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% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.1% | 2.3% | 2.5% | 3.5% | 3.0% | 3.5% | 3.5% | 4.5% | 2.3% | 3.1% | 6.6% |
| FCF Yield | 4.1% | 4.3% | 1.6% | 3.4% | 3.0% | 2.8% | 6.5% | 4.4% | 6.2% | 5.7% | 10.1% |
| Buyback Yield | 0.8% | 0.8% | 0.6% | 0.6% | 2.5% | 2.5% | 0.7% | 1.7% | 2.6% | 2.6% | 4.0% |
| Total Shareholder Yield | 1.5% | 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 |
Compare WMT with 4 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| WMTYou | $1.0T | 46.9 | 24.4 | 24.5 | 24.9% | 4.2% | 22.2% | 14.7% | 1.5 |
| COST | $448B | 55.5 | 34.5 | 57.2 | 12.8% | 3.8% | 30.7% | 34.5% | 0.6 |
| TGT | $52B | 12.8 | 8.2 | 11.6 | 25.8% | 5.3% | 29.1% | 13.4% | 2.3 |
| BJ | $13B | 24.7 | 15.3 | 41.6 | 18.4% | 3.8% | 32.3% | 12.8% | 2.7 |
| PSMT | $5B | 32.1 | 15.9 | 49.2 | 17.4% | 4.5% | 12.2% | 13.8% | 1.0 |
| Consumer Defensive Median | — | 21.6 | 12.3 | 16.4 | 40.7% | 1.1% | 7.8% | 5.7% | 3.2 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
Price is only half the story. See total return with reinvested dividends.
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View ValuationSee how WMT stacks up against sector leader Costco Wholesale Corporation.
Start ComparisonWalmart Inc.'s current P/E ratio is 46.9x. The historical average is 25.7x. This places it at the 100th percentile of its historical range.
Walmart Inc.'s current EV/EBITDA is 24.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.6x.
Walmart Inc.'s return on equity (ROE) is 22.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 19.2%.
Based on historical data, Walmart Inc. is trading at a P/E of 46.9x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Walmart Inc.'s current dividend yield is 0.73% with a payout ratio of 34.3%.
Walmart Inc. has 24.9% gross margin and 4.2% operating margin.
Walmart Inc.'s Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.