Walmart Inc.WMT
NasdaqGS•Consumer Defensive•Discount Stores
Walmart Inc. engages in the operation of retail and wholesale stores and clubs, ecommerce websites, and mobile applications worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club U.S. It operates supercenters, supermarkets, warehouse clubs, cash and carry stores, and discount stores under Walmart and Walmart Neighborhood Market brands; membership-only warehouse clubs; and ecommerce websites, such as walmart.com.mx, walmart.ca, flipkart.com, PhonePe and other sites. It offers grocery items, including dry grocery, snacks, dairy, meat, produce, deli and bakery, frozen foods, alcoholic and nonalcoholic beverages, as well as consumables, such as health and beauty aids, pet supplies, household chemicals, paper goods, and baby products; and fuel and other categories. In addition, it is involved in the provision of health and wellness products covering pharmacy, optical and hearing services, over-the-counter drugs, and protein and nutrition products; and home, hardlines, and seasonal items, including home improvement, outdoor living, gardening, furniture, apparel, jewelry, tools and power equipment, housewares, toys, and mattresses. Further, the company offers consumer electronics and accessories, software, video games, office supplies, appliances, and third-party gift cards. Additionally, it operates digital payment platforms; offers financial services and related products, including money transfers, bill payments, money orders, check cashing, prepaid access, co-branded credit cards, installment lending, and earned wage access; and markets lines of merchandise under private and licensed brands. The company was formerly known as Wal-Mart Stores, Inc. and changed its name to Walmart Inc. in February 2018. Walmart Inc. was founded in 1945 and is based in Bentonville, Arkansas.
Walmart Inc. (WMT) reported trailing twelve months revenue of $725.30B as of April 2026, a 5.9% increase year-over-year. Quarterly revenue reached $177.75B, reflecting continued top-line momentum.
Walmart Inc. generated $22.74B in TTM net income, with quarterly EBITDA of $11.31B. The operating margin contracted from 4.3% to 4.2%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (4.2%) and net margin (3.0%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 2.7% a year ago, signaling stronger bottom-line efficiency.
WMT trades at a P/E of 44.9x (a premium multiple) and a P/S of 1.4x. The price-to-book ratio of 10.8x indicates a significant premium over book value.
The company reported negative free cash flow of $-1.95B, indicating cash consumption over the period. The balance sheet shows $289.61B in total assets with $36.89B in long-term debt against $94.33B in stockholders equity for a debt-to-equity ratio of 0.4, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~4.2% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 22.3% suggests a durable competitive advantage and efficient capital allocation.
7 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (7 of 7 quarters up), with ~9.1% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~4.2% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.4 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation