Walmart - Public Comps and Valuation Multiples

Walmart Overview

About Walmart

Walmart is a leading retailer in the United States, with its strategy predicated on superior operating efficiency and offering the lowest priced goods to consumers to drive robust store traffic and product turnover. Walmart augmented its low-price business strategy by offering a convenient one-stop shopping destination with the opening of its first supercenter in 1988.Today, Walmart operates over 4,600 stores in the United States (5,200 including Sam’s Club) and over 10,000 locations globally. Walmart generated over $460 billion in domestic namesake sales in fiscal 2025, with Sam’s Club contributing another $90 billion to the company's top line. Internationally, Walmart generated $120 billion in sales. The retailer serves around 270 million customers globally each week.

Founded

1969

HQ

Employees

2100K+

Website

stock.walmart.com

Sectors

Department Stores
Supermarkets

Financials

LTM Revenue $698B

LTM EBITDA $43.7B

EV

$881B

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Walmart Financials

As of August 2025, Walmart reported last 12-month revenue of $698B and EBITDA of $43.7B.

In the same period, Walmart generated $174B in LTM gross profit and $20.8B in net income.

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Walmart P&L

In the most recent fiscal year, Walmart reported revenue of $681B and EBITDA of $42.0B.

Walmart expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$698B	XXX	$681B	XXX	XXX	XXX
Gross Profit	$174B	XXX	$169B	XXX	XXX	XXX
Gross Margin	25%	XXX	25%	XXX	XXX	XXX
EBITDA	$43.7B	XXX	$42.0B	XXX	XXX	XXX
EBITDA Margin	6%	XXX	6%	XXX	XXX	XXX
EBIT	$30.1B	XXX	$29.3B	XXX	XXX	XXX
EBIT Margin	4%	XXX	4%	XXX	XXX	XXX
Net Profit	$20.8B	XXX	$19.4B	XXX	XXX	XXX
Net Margin	3%	XXX	3%	XXX	XXX	XXX
Net Debt	XXX	XXX	$30.0B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Walmart including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $698B. EBITDA for the last twelve months was $43.7B. In the most recent fiscal year, Walmart achieved $681B in revenue and $42.0B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$698B	Analyst estimates available to subscribers	$681B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$174B	Analyst estimates available to subscribers	$169B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	24.9% gross margin	Analyst estimates available to subscribers	24.9% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$43.7B	Analyst estimates available to subscribers	$42.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	6.3% EBITDA margin	Analyst estimates available to subscribers	6.2% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$30.1B	Analyst estimates available to subscribers	$29.3B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	4.3% EBIT margin	Analyst estimates available to subscribers	4.3% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$20.8B	Analyst estimates available to subscribers	$19.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	3.0% net profit margin	Analyst estimates available to subscribers	2.9% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$30.0B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Walmart

This financial data table provides comprehensive performance metrics for Walmart, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Walmart generated $698B in revenue over the last twelve months.
The company achieved $43.7B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $174B.
Net income over the last twelve months reached $20.8B.

Fiscal Year Performance

In the most recent fiscal year, Walmart reported $681B in total revenue.
Fiscal year EBITDA was $42.0B.
The company maintained a gross profit margin of 24.9% in the most recent fiscal year.
EBITDA margin for the fiscal year was 6.2%.
Net profit margin reached 2.9% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Walmart. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Walmart Stock Performance

Walmart has current market cap of $825B, and EV of $881B.

Market Cap Evolution

Walmart Stock Data

As of September 12, 2025, Walmart's stock price is $103.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$881B	$825B	XXX	XXX	XXX	XXX	$2.57

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Walmart Valuation Multiples

Walmart's trades at 1.3x EV/Revenue multiple, and 21.2x EV/EBITDA.

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Walmart Financial Valuation Multiples

As of September 12, 2025, Walmart has market cap of $825B and EV of $881B.

Equity research analysts estimate Walmart's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Walmart has a P/E ratio of 39.6x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$825B	XXX	$825B	XXX	XXX	XXX
EV (current)	$881B	XXX	$881B	XXX	XXX	XXX
EV/Revenue	1.3x	XXX	1.3x	XXX	XXX	XXX
EV/EBITDA	20.1x	XXX	21.2x	XXX	XXX	XXX
EV/EBIT	29.2x	XXX	30.2x	XXX	XXX	XXX
EV/Gross Profit	5.1x	XXX	n/a	XXX	XXX	XXX
P/E	39.6x	XXX	43.2x	XXX	XXX	XXX
EV/FCF	63.5x	XXX	68.5x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Walmart Margins & Growth Rates

Walmart's last 12 month revenue growth is 5%

Walmart's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.

Walmart's rule of 40 is 11% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Walmart's rule of X is 18% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Walmart Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	5%	XXX	4%	XXX	XXX	XXX
EBITDA Margin	6%	XXX	6%	XXX	XXX	XXX
EBITDA Growth	8%	XXX	8%	XXX	XXX	XXX
Rule of 40	11%	XXX	11%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	18%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	21%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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