Company Valuation: Walmart Inc.

Data adjusted to current consolidation scope
Fiscal Period: January 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 387,816 387,989 444,892 788,557 949,566 820,398 - -
Change - 0.04% 14.67% 77.25% 20.42% -13.6% - -
Enterprise Value (EV) 1 415,887 423,986 481,916 825,310 990,362 872,699 871,517 872,824
Change - 1.95% 13.66% 71.26% 20% -11.88% -0.14% 0.15%
P/E 28.7x 33.7x 28.8x 40.7x 43.6x 35.8x 32.2x 28.8x
PBR 4.69x 5.11x 5.31x 8.67x 9.59x 7.56x 6.86x 6.4x
PEG - -2.7x 0.8x 1.6x 3.3x 6.53x 2.9x 2.5x
Capitalization / Revenue 0.68x 0.64x 0.69x 1.17x 1.34x 1.09x 1.04x 1x
EV / Revenue 0.73x 0.7x 0.75x 1.22x 1.4x 1.16x 1.11x 1.06x
EV / EBITDA 11.3x 11.9x 12.4x 19.4x 21.9x 17.7x 16.3x 15.1x
EV / EBIT 16x 17.2x 17.8x 28x 31.8x 25.9x 23.6x 21.4x
EV / FCF 37.6x 35.4x 31.9x 65.2x 66.4x 76.3x 53.9x 47.1x
FCF Yield 2.66% 2.83% 3.14% 1.53% 1.51% 1.31% 1.86% 2.12%
Dividend per Share 2 0.7333 0.7467 0.76 0.83 0.94 0.997 1.046 1.1
Rate of return 1.57% 1.56% 1.38% 0.85% 0.79% 0.97% 1.01% 1.07%
EPS 2 1.623 1.423 1.913 2.41 2.73 2.88 3.2 3.575
Distribution rate 45.2% 52.5% 39.7% 34.4% 34.4% 34.6% 32.7% 30.8%
Net sales 1 567,762 605,881 642,637 674,538 706,413 752,265 785,661 822,435
EBITDA 1 36,708 35,547 38,865 42,477 45,185 49,193 53,375 57,963
EBIT 1 26,050 24,602 27,012 29,504 31,096 33,752 36,902 40,802
Net income 1 13,673 11,680 15,511 19,436 21,893 22,986 25,517 28,198
Net Debt 1 28,071 35,997 37,024 36,753 40,796 52,301 51,119 52,425
Reference price 2 46.60 47.96 55.08 98.16 119.14 103.09 103.09 103.09
Nbr of stocks (in thousands) 8,321,635 8,090,400 8,076,701 8,033,386 7,970,167 7,958,079 - -
Announcement Date 2/17/22 2/21/23 2/20/24 2/20/25 2/19/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
35.8x1.16x17.74x0.97% 820B
23.33x1.12x9.76x1.02% 50.12B
16.28x0.63x11.8x2.71% 39.26B
15.03x0.52x7.65x3.43% 38.64B
11.43x0.33x6.09x2.57% 35.38B
27.08x0.84x9.71x2.72% 34.68B
11.39x0.45x5.67x4.13% 31B
20.21x0.76x6.28x1.28% 26.43B
50.18x0.56x9.42x1.08% 23.51B
Average 23.41x 0.71x 9.35x 2.21% 122.16B
Weighted average by Cap. 31.99x 1.04x 15.39x 1.32%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield