Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Walmart

WMT stock analysis · Consumer Staples · Consumer Staples Merchandise Retail

FY 2026-01-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$113.26HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$901.3B

Price × SEC outstanding shares. Shares measured 2026-05-27. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$28.48

Equity cash-flow scenario · SEC outstanding shares at 2026-05-27 · -74.9% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

42.0%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-42.5%

26 sector peers · median 23.7×

How this is calculated ↗
Valuation

Historical multiples

35.4×

6 annual observations · snapshot P/E 41.2× · 16.2% versus history

How this is calculated ↗
Valuation

Free cash flow yield

1.7%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

17.6%

Normalized tax · financing-capital proxy

How this is calculated ↗
Valuation

Value composite

16/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

9.1%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-7.1%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

1.7%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 41.6B2021-01-31: cfo $36,074,000,000.002021-01-31: capex $10,264,000,000.0020212022-01-31: cfo $24,181,000,000.002022-01-31: capex $13,106,000,000.0020222023-01-31: cfo $28,841,000,000.002023-01-31: capex $16,857,000,000.0020232024-01-31: cfo $35,726,000,000.002024-01-31: capex $20,606,000,000.0020242025-01-31: cfo $36,443,000,000.002025-01-31: capex $23,783,000,000.0020252026-01-31: cfo $41,565,000,000.002026-01-31: capex $26,642,000,000.002026
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$35.72$38.98$42.48
10.0%$26.18$28.48$30.95
12.0%$20.65$22.41$24.29

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2026-01-31706.4B22.3B41.6B26.6B284.7B
2025-01-31674.5B20.2B36.4B23.8B260.8B
2024-01-31642.6B16.3B35.7B20.6B252.4B
2023-01-31605.9B11.3B28.8B16.9B243.2B
2022-01-31567.8B13.9B24.2B13.1B244.9B
2021-01-31555.2B13.7B36.1B10.3B252.5B
2020-01-31519.9B15.2B25.3B10.7B236.5B
2019-01-31510.3B7.2B27.8B10.3B219.3B
2018-01-31495.8B10.5B28.3B10.1B204.5B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue706.4BRevenueFromContractWithCustomerExcludingAssessedTax2026-03-13
netIncome22.3BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-03-13
Parent/common earnings proxy21.9BNetIncomeLoss2026-03-13
cfo41.6BNetCashProvidedByUsedInOperatingActivities2026-03-13
capex26.6BPaymentsToAcquirePropertyPlantAndEquipment2026-03-13
operatingIncome29.8BOperatingIncomeLoss2026-03-13
assets284.7BAssets2026-03-13
equity105.9BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-03-13
Parent book equity proxy99.6BStockholdersEquity2026-03-13
debt38.2BLongTermDebt2026-03-13
shortDebt6.6BShortTermBorrowings2026-03-13
cash10.7BCashAndCashEquivalentsAtCarryingValue2026-03-13
shares8BWeightedAverageNumberOfDilutedSharesOutstanding2026-03-13
dividends7.5BPaymentsOfDividendsCommonStock2026-03-13
buybacks8.1BPaymentsForRepurchaseOfCommonStock2026-03-13
issuanceNot reported under a supported tag