Company Valuation: Walmart Inc.

Data adjusted to current consolidation scope
Fiscal Period: January 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 387,816 387,989 444,892 788,557 949,566 833,599 - -
Change - 0.04% 14.67% 77.25% 20.42% -12.21% - -
Enterprise Value (EV) 1 415,887 423,986 481,916 825,310 990,362 884,890 885,782 887,711
Change - 1.95% 13.66% 71.26% 20% -10.65% 0.1% 0.22%
P/E 28.7x 33.7x 28.8x 40.7x 43.6x 36.5x 33x 29.7x
PBR 4.69x 5.11x 5.31x 8.67x 9.59x 7.74x 7.03x 6.59x
PEG - -2.7x 0.8x 1.6x 3.3x 6.79x 3.1x 2.6x
Capitalization / Revenue 0.68x 0.64x 0.69x 1.17x 1.34x 1.11x 1.06x 1.01x
EV / Revenue 0.73x 0.7x 0.75x 1.22x 1.4x 1.18x 1.13x 1.08x
EV / EBITDA 11.3x 11.9x 12.4x 19.4x 21.9x 18x 16.6x 15.3x
EV / EBIT 16x 17.2x 17.8x 28x 31.8x 26.3x 24.1x 21.8x
EV / FCF 37.6x 35.4x 31.9x 65.2x 66.4x 75.6x 54.8x 48x
FCF Yield 2.66% 2.83% 3.14% 1.53% 1.51% 1.32% 1.83% 2.08%
Dividend per Share 2 0.7333 0.7467 0.76 0.83 0.94 0.9964 1.05 1.108
Rate of return 1.57% 1.56% 1.38% 0.85% 0.79% 0.95% 1% 1.05%
EPS 2 1.623 1.423 1.913 2.41 2.73 2.877 3.181 3.542
Distribution rate 45.2% 52.5% 39.7% 34.4% 34.4% 34.6% 33% 31.3%
Net sales 1 567,762 605,881 642,637 674,538 706,413 752,846 785,894 822,679
EBITDA 1 36,708 35,547 38,865 42,477 45,185 49,159 53,338 57,925
EBIT 1 26,050 24,602 27,012 29,504 31,096 33,658 36,822 40,746
Net income 1 13,673 11,680 15,511 19,436 21,893 22,985 25,375 28,067
Net Debt 1 28,071 35,997 37,024 36,753 40,796 51,291 52,183 54,112
Reference price 2 46.60 47.96 55.08 98.16 119.14 105.07 105.07 105.07
Nbr of stocks (in thousands) 8,321,635 8,090,400 8,076,701 8,033,386 7,970,167 7,933,746 - -
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.($)
36.52x1.18x18x0.95% 834B
23.86x1.15x9.96x0.99% 49.91B
15.41x0.53x7.8x3.33% 38.72B
15.29x0.61x11.44x2.9% 37.57B
20.59x0.88x5.9x6.14% 35.97B
11.71x0.33x6.16x2.55% 34.71B
26.14x0.82x9.45x2.82% 32.53B
11.77x0.46x5.77x4% 30.81B
16.05x0.58x6.65x2.99% 26.59B
Average 19.70x 0.73x 9.01x 2.96% 124.49B
Weighted average by Cap. 31.77x 1.05x 15.46x 1.5%

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