WMT
Walmart Inc.
WMT's fundamentals are mixed, but it looks expensive: trading at 46x earnings, above its usual 33x. Analysts expect earnings growth.
WMT Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Healthy |
WMT's profitability and balance sheet are currently healthy, and its revenue and cash flow are stable.
WMT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 25x | $68.99 | -45% |
| Fair | 33x | $91.24 | -28% |
| Forward | 40x | $126 | — |
| Expensive | 42x | $116 | -8.5% |
| Current | 46x | $126 | — |
Historical ranges are pointers, not guarantees.
WMT's PE is in its expensive range at 46x. If earnings grow as analysts expect, today's price would be 40x next year's earnings.
WMT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Stable | |
| Broad | |
| High |
Analysts expect earnings and revenue growth for WMT, with profitability holding steady.
WMT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.12 | +13% |
| Q3 2026 | $2.76 | +3.8% |
| Q2 2026 | $2.84 | +21% |
| Q1 2026 | $2.73 | +13% |
| Q4 2025 | $2.86 | +18% |
| Q3 2025 | $2.66 | +39% |
| Q2 2025 | $2.34 | +0.4% |
| Q1 2025 | $2.41 | +26% |
| Q4 2024 | $2.43 | +21% |
WMT's earnings per share have climbed steadily: $2.76 over the past year, up 3.8% from the year before, and higher year over year for 13 quarters in a row.
WMT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $187.9B | +5.9% |
| Q2 2026 | $177.8B | +7.3% |
| Q1 2026 | $190.7B | +5.6% |
| Q4 2025 | $179.5B | +5.8% |
| Q3 2025 | $177.4B | +4.8% |
| Q2 2025 | $165.6B | +2.5% |
| Q1 2025 | $180.6B | +4.1% |
| Q4 2024 | $169.6B | +5.5% |
WMT's revenue has grown year over year every quarter since late 2020: $188B last quarter, up 5.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5% | +0.9 points |
| Q2 2026 | 4.2% | -0.1 points |
| Q1 2026 | 4.6% | +0.2 points |
| Q4 2025 | 3.7% | -0.2 points |
| Q3 2025 | 4.1% | -0.6 points |
| Q2 2025 | 4.3% | +0.1 points |
| Q1 2025 | 4.3% | +0.2 points |
| Q4 2024 | 4% | +0.1 points |
WMT's operating margin was 5% last quarter, up 0.9 points from the same quarter a year ago.
WMT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $7.5B | +15% |
| Q2 2026 | -$1.9B | -558% |
| Q1 2026 | $6.1B | -5.3% |
| Q4 2025 | $1.9B | +406% |
| Q3 2025 | $6.5B | +3.8% |
| Q2 2025 | $425M | +$852M |
| Q1 2025 | $6.4B | -40% |
| Q4 2024 | $372M | +$5B |
WMT still generates free cash flow, though less than at its 2024 peak: $13.5B over the past year.
WMT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -21M shares |
| 1 year | -0.5% | -38M shares |
| 3 years | -1.6% | -131M shares |
| 5 years | -5.4% | -458M shares |
| Available history | -7% | -605M shares |
WMT has 8B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3B |
| Q2 2026 | $2.1B |
| Q1 2026 | $1.1B |
| Q4 2025 | $808M |
| Q3 2025 | $1.6B |
| Q2 2025 | $4.6B |
| Q1 2025 | $1.4B |
| Q4 2024 | $977M |
WMT spent $7B buying back its own shares over the past year, down 19% from the year before.
WMT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.8x | Very low |
| Q2 2026 | 0.9x | Very low |
| Q1 2026 | 0.8x | Very low |
| Q4 2025 | 0.8x | Very low |
| Q3 2025 | 0.8x | Very low |
| Q2 2025 | 0.9x | Very low |
| Q1 2025 | 0.7x | Very low |
| Q4 2024 | 0.7x | Very low |
WMT's net debt is less than a year of its operating earnings (EBITDA).
WMT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 63.0 | Neutral |
| Stochastic | 85.1 | Overbought |
WMT's weekly RSI is 63 (neutral) and its Stochastic is 85 (overbought).
WMT PE vs Consumer Defensive Sector
| Metric | WMT | Sector median | Relative |
|---|---|---|---|
| PE | 46x | 19x | 135% above |
| PE % | 93 | 18 | 75 pts above |
WMT is trading at 46x earnings, a 135% premium to the Consumer Defensive sector's median of 19x.
WMT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $117.2 | 7.7% above |
| 20 week MA | $112.7 | 12% above |
| 50 week MA | $118.3 | 6.7% above |
| 100 week MA | $107.8 | 17% above |
| 200 week MA | $84.1 | 50% above |
WMT is in an uptrend: it's above all five of its weekly moving averages, and 50% above its 200-week average.
WMT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $39.9 | $47.8 | +20% |
| 2021 | $47.8 | $46.5 | -2.8% |
| 2022 | $46.5 | $47.9 | +3.1% |
| 2023 | $47.9 | $52.6 | +9.7% |
| 2024 | $52.6 | $91.7 | +74% |
| 2025 | $91.7 | $111.7 | +22% |
| 2026 YTD | $111.7 | $126.2 | +13% |
WMT has finished higher in five of the last six years. It's up 13% so far in 2026.