Walmart Inc. (WMT) is a publicly traded company in the Consumer Defensive — Discount Stores industry listed on NASDAQ. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Walmart Inc., established in 1945 and based in Bentonville, Arkansas, operates as a global retail powerhouse, having officially adopted its current name in February 2018, formerly Wal-Mart Stores, Inc. The company's diverse operations, encompassing retail, wholesale, and e-commerce, are managed across three primary divisions: Walmart U.S., Walmart International, and Sam's Club.
Is Walmart Inc. stock overvalued or undervalued in 2026?
As of October 5, 2026, Walmart Inc. (WMT) trades at 37.6× earnings (P/E), against a median of 20.6× across the 97 consumer staples companies above $2bn in Kaplio's universe. Kaplio's verdict: expensive. At the decade median (29.7×) $82 (-21 %); at its sector median (20.6×) $57 (-45 %).
Kaplio overview: Walmart Inc.
Market cap $830B · 52 weeks $101 – $134 (23 % below the high) · P/E 37.6× · 2027 expected P/E 36.1× · Dividend 0.9 % · 11 years rising · Next earnings November 19, 2026 · expected EPS $0.63 · Price as of Oct 5 · accounts published Aug 20.
- Valuation: P/E 37.6× (expensive).
- Business: ROIC 13 % (fair).
- Balance sheet: Net debt/EBITDA 1.2× (solid).
- Earnings: 7 of 8 (on track).
What would it be worth at its usual multiples?
At the decade median (29.7×) $82 (-21 %); at its sector median (20.6×) $57 (-45 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
What matters in consumer staples: 4 of 8 pass
- Gross margin (stable 5y) 24.9 %, fails.
- FCF / Net Income 68.2 %, fails.
- 10y dividend growth 3.7 %, fails.
- P/E vs own 10y history 37.6×, fails.
- Stable ROE / ROIC 22.7 %, passes.
- 10y EPS growth 6.0 %, passes, near the threshold.
- Payout Ratio 34.3 %, passes.
- Net debt / EBITDA 1.2×, passes.
Against its peers (reference peers) — Walmart Inc.: P/E 37.6×; EV/EBITDA 20.8×; ROIC 12.7 %; $830B. Costco Wholesale Corporation (P/E 33.4×; EV/EBITDA 27.6×; ROIC 18.6 %; $408B), Target Corporation (P/E 16.2×; EV/EBITDA 9.9×; ROIC 11.3 %; $70.9B), Dollar General Corporation (P/E 15.5×; EV/EBITDA 12.4×; ROIC 7.0 %; $26.2B).
Expensive or cheap against its last ten years?
P/E at each close: today 37.6× · median 29.7× · minimum 14.3× · maximum 55.4× · cheap below 26.9× · expensive above 40.3×. It has been cheaper than today 73% of the time over its last ten years.
Dividend
solid · Yield 0.94 % ($0.94 per share in 2026) · Years raising it ≥ 11 · 5-year growth +6 % a year · Free cash flow coverage 2.1× · With $1,000 invested today you'd collect $9.40 a year ($0.78 a month).
Kaplio's reading: Walmart Inc.
Updated on September 22, 2026 · accounts published on August 20, 2026
Reading of September 21, 2026: A steady, profitable business
Walmart trades at a P/E of 38.8× over the last 12 months, 62 % above its ten-year average of 24.0×, with ROIC of 12.7 %.
- Is Walmart expensive or cheap? At a P/E of 38.8×, it is 84 % above its sector median and has been cheaper in 90 % of the last decade's quarters.
- How is the business doing? Revenue grew 4.7 % and EPS 13.3 % over the last 12 months, with ROIC of 12.7 %, 3.8 points above the sector median.
- How strong is the balance sheet? Net debt of $7.41 per share is 6.9 % of the price, and the dividend has risen for 11 straight fiscal years on a 34 % payout.
- What to expect from the next earnings? Walmart reports on November 19, 2026, with consensus at $0.63 EPS after beating estimates in 7 of the last 8 quarters.
- Is it as steady as the sector promises? It clears 4 of the 8 staples checks: ROE and payout pass, but a 24.9 % gross margin and 3.7 % dividend growth fall short.
Is Walmart expensive or cheap?
At 38.8× earnings over the last 12 months, Walmart costs 62 % more than its own ten-year average of 24.0× and 84 % more than the 21.1× median of the 137 companies in its sector. The decade range runs from 12.9× to 46.8×, and the stock has been cheaper than it is today in 90 % of the last forty quarters. A free cash flow yield of 1.4 % and an earnings yield of 2.1 % say the same from the other side. The 20 % distance to the $134.20 52-week high has not closed that gap.
How is the business doing?
Revenue rose 4.7 % over the last 12 months and EPS 13.3 %, so profit is growing close to three times faster than sales. The operating margin of 4.4 % sits just above the 4.3 % average of fiscal 2015 to 2026 and above the 4.2 % booked in fiscal 2026, progress measured in tenths of a point. The net margin is 3.0 %. The more telling figure is ROIC of 12.7 %, 3.8 points above the 8.9 % sector median and above 10 % in six of the last ten fiscal years, the worst being 8.6 % in 2023.
How strong is the balance sheet?
Debt to equity of 0.75 and net debt of 1.2× EBITDA in fiscal 2026 leave wide room against the 2.5× line the sector treats as safe, and net debt of $7.41 per share amounts to only 6.9 % of the current price. The Altman Z score of 6.5 puts the company in the safe zone and Piotroski scores 8 out of 9. The current ratio of 0.77 is the one soft spot. The dividend has risen for 11 consecutive fiscal years and absorbs 34 % of earnings, though at this price it yields only 0.9 %.
What to expect from the next earnings?
Walmart reports on November 19, 2026, and the consensus expects EPS of $0.63 for the quarter. The company beat estimates in seven of the last eight quarters, most recently on August 20, 2026, when it posted $0.81 against $0.74 expected, 9.2 % above. Analysts have not moved: the 2027 EPS consensus has held at $2.89 over the last seven days across 25 estimates, and the revenue line is equally still. Of the 66 analysts covering the company, 47 say buy, 16 hold and 3 sell. At 38.8× earnings, a beat is already the base case.
Is it as steady as the sector promises?
Consumer staples are judged on steadiness: a wide gross margin, cash that converts, and a dividend that climbs every year. Walmart clears four of those eight checks and misses four. ROE of 22.7 % over the last 12 months beats the 15 % bar, the 34.3 % payout sits below the 75 % ceiling, and leverage passes. Gross margin of 24.9 % in fiscal 2026 falls short of the 35 % considered stable, free cash flow covers only 68.2 % of net income against a 90 % bar, and dividend growth of 3.7 % a year over the last decade misses the 6 % mark that EPS growth of 6.0 % barely reaches.
How this was prepared: the data comes from companies' official filings, collected by a professional provider, and from Kaplio's analysis engine (trailing-12-month ratios, 10 years of history and sector medians computed across US-listed companies). The text is written from that data alone, every figure is checked against it before publication, and it is reviewed when the company reports results. This is not investment advice.
Investor methods verdict
Would Buffett approve Walmart today?
The Buffett Method would wait for a better price for Walmart: it yields 2.6% before tax; it asks for 10%. Business quality: 88 out of 100 (price not included). Kaplio assessment with data from the week of 2026-10-05; not investment advice.
Would Peter Lynch approve Walmart today?
The Lynch Method would wait for a better price for Walmart: P/E 37.6 with 11% growth; it asks that the P/E not exceed growth. Business quality: 78 out of 100 (price not included). Lynch classifies it as a stalwart. Kaplio assessment with data from the week of 2026-10-05; not investment advice.
Profitability
| Return on Equity | 22.74% |
| Return on Invested Capital | 12.72% |
| Return on Assets | 7.51% |
| Gross Margin | 25.23% |
| Operating Margin | 4.39% |
| Net Margin | 3.00% |
Financial Health
| Debt / Equity | 0.75 |
| Current Ratio | 0.77 |
| Piotroski F-Score | 8 |
| Altman Z-Score | 6.47 |
Compare it with
Price Performance
| 1 month | -2.69% |
| 3 months | -7.82% |
| Year-to-date | -6.42% |
| 1 year | +1.52% |
| 3 years | +99.96% |
| 5 years | +124.65% |
Dividend History
Paid in the last 12 months: $0.9775 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-12-11 | $0.2475 |
| 2026-08-21 | $0.2475 |
| 2026-05-08 | $0.2475 |
| 2026-03-20 | $0.2475 |
| 2025-12-12 | $0.2350 |
| 2025-08-15 | $0.2350 |
| 2025-05-09 | $0.2350 |
| 2025-03-21 | $0.2350 |
| 2024-12-13 | $0.2075 |
| 2024-08-16 | $0.2075 |
Amounts adjusted for stock splits.
Related companies: BJ · COST · DG · DLTR · KO · KR · OLLI
Explore sector: Consumer Defensive · Discount Stores
More sections of WMT: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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