Company Valuation: Walmart Inc.

Data adjusted to current consolidation scope
Fiscal Period: January 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 387,816 387,989 444,892 788,557 949,566 857,559 - -
Change - 0.04% 14.67% 77.25% 20.42% -9.69% - -
Enterprise Value (EV) 1 415,887 423,986 481,916 825,310 990,362 910,005 908,799 910,145
Change - 1.95% 13.66% 71.26% 20% -8.11% -0.13% 0.15%
P/E 28.7x 33.7x 28.8x 40.7x 43.6x 37.5x 33.9x 30.4x
PBR 4.69x 5.11x 5.31x 8.67x 9.59x 7.93x 7.2x 6.71x
PEG - -2.7x 0.8x 1.6x 3.3x 6.81x 3.2x 2.6x
Capitalization / Revenue 0.68x 0.64x 0.69x 1.17x 1.34x 1.14x 1.09x 1.04x
EV / Revenue 0.73x 0.7x 0.75x 1.22x 1.4x 1.21x 1.16x 1.11x
EV / EBITDA 11.3x 11.9x 12.4x 19.4x 21.9x 18.5x 17x 15.7x
EV / EBIT 16x 17.2x 17.8x 28x 31.8x 27x 24.7x 22.3x
EV / FCF 37.6x 35.4x 31.9x 65.2x 66.4x 77.7x 56.2x 49.1x
FCF Yield 2.66% 2.83% 3.14% 1.53% 1.51% 1.29% 1.78% 2.04%
Dividend per Share 2 0.7333 0.7467 0.76 0.83 0.94 0.997 1.044 1.1
Rate of return 1.57% 1.56% 1.38% 0.85% 0.79% 0.92% 0.97% 1.02%
EPS 2 1.623 1.423 1.913 2.41 2.73 2.88 3.184 3.555
Distribution rate 45.2% 52.5% 39.7% 34.4% 34.4% 34.6% 32.8% 30.9%
Net sales 1 567,762 605,881 642,637 674,538 706,413 752,965 786,126 823,335
EBITDA 1 36,708 35,547 38,865 42,477 45,185 49,167 53,350 57,975
EBIT 1 26,050 24,602 27,012 29,504 31,096 33,662 36,864 40,825
Net income 1 13,673 11,680 15,511 19,436 21,893 22,990 25,386 28,090
Net Debt 1 28,071 35,997 37,024 36,753 40,796 52,446 51,240 52,586
Reference price 2 46.60 47.96 55.08 98.16 119.14 108.09 108.09 108.09
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 17/02/22 21/02/23 20/02/24 20/02/25 19/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
37.53x1.21x18.51x0.92% 858B
23.79x1.14x9.94x1% 50.97B
15.73x0.54x7.92x3.27% 40.3B
15.94x0.63x11.77x2.79% 39.16B
12.3x0.34x6.45x2.39% 37.1B
26.62x0.83x9.59x2.77% 33.89B
11.91x0.46x5.79x3.95% 32.24B
20.39x0.76x6.32x1.27% 26.63B
51.91x0.56x9.39x1.09% 24.11B
Average 24.01x 0.72x 9.52x 2.16% 126.88B
Weighted average by Cap. 33.44x 1.08x 16.03x 1.27%

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

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