Stock Analysis on Net

Walmart Inc. (NYSE:WMT)

Common Stock Valuation Ratios (Price Multiples)

Microsoft Excel

Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).


Current Valuation Ratios

Walmart Inc., current price multiples

Microsoft Excel
Walmart Inc. Costco Wholesale Corp. Target Corp. Consumer Staples Distribution & Retail Consumer Staples
Selected Financial Data
Current share price (P) $60.17
No. shares of common stock outstanding 8,058,048,674
Growth rate (g) 8.89%
 
Earnings per share (EPS) $1.92
Next year expected EPS $2.10
Operating profit per share $3.35
Sales per share $79.75
Book value per share (BVPS) $10.41
Valuation Ratios (Price Multiples)
Price to earnings (P/E) 31.26 51.64 19.77 42.96 31.27
Price to next year expected earnings 28.71 43.53 16.98 39.10 28.66
Price-earnings-growth (PEG) 3.51 2.77 1.20 4.34 3.43
Price to operating profit (P/OP) 17.95 40.04 14.34 27.53 23.60
Price to sales (P/S) 0.75 1.37 0.77 0.94 1.55
Price to book value (P/BV) 5.78 12.97 6.09 7.89 8.05

Based on: 10-K (reporting date: 2024-01-31).

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.


Historical Valuation Ratios (Summary)

Walmart Inc., historical price multiples

Microsoft Excel
Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019
Price to earnings (P/E) 31.52 32.17 29.27 27.47 21.69 41.79
Price to operating profit (P/OP) 18.10 18.40 15.43 16.46 15.69 12.70
Price to sales (P/S) 0.76 0.62 0.70 0.67 0.62 0.55
Price to book value (P/BV) 5.83 4.90 4.81 4.59 4.32 3.85

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Walmart Inc. P/E ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Walmart Inc. P/OP ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Walmart Inc. P/S ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Walmart Inc. P/BV ratio increased from 2022 to 2023 and from 2023 to 2024.

Price to Earnings (P/E)

Walmart Inc., historical P/E calculation, comparison to benchmarks

Microsoft Excel
Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019
No. shares of common stock outstanding1 8,058,048,674 8,086,967,799 8,255,338,887 8,451,215,085 8,496,831,660 8,609,052,690
Selected Financial Data (US$)
Consolidated net income attributable to Walmart (in millions) 15,511 11,680 13,673 13,510 14,881 6,670
Earnings per share (EPS)2 1.92 1.44 1.66 1.60 1.75 0.77
Share price1, 3 60.68 46.47 48.48 43.91 37.99 32.38
Valuation Ratio
P/E ratio4 31.52 32.17 29.27 27.47 21.69 41.79
Benchmarks
P/E Ratio, Competitors5
Costco Wholesale Corp. 39.79 36.38 39.65 40.02 35.76
Target Corp. 18.60 27.08 14.38 20.39 16.12 13.56
P/E Ratio, Sector
Consumer Staples Distribution & Retail 33.80 26.93 28.78 24.18 33.88
P/E Ratio, Industry
Consumer Staples 27.78 26.49 27.26 25.26 34.44

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

1 Data adjusted for splits and stock dividends.

2 2024 Calculation
EPS = Consolidated net income attributable to Walmart ÷ No. shares of common stock outstanding
= 15,511,000,000 ÷ 8,058,048,674 = 1.92

3 Closing price as at the filing date of Walmart Inc. Annual Report.

4 2024 Calculation
P/E ratio = Share price ÷ EPS
= 60.68 ÷ 1.92 = 31.52

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Walmart Inc. P/E ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.

Price to Operating Profit (P/OP)

Walmart Inc., historical P/OP calculation, comparison to benchmarks

Microsoft Excel
Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019
No. shares of common stock outstanding1 8,058,048,674 8,086,967,799 8,255,338,887 8,451,215,085 8,496,831,660 8,609,052,690
Selected Financial Data (US$)
Operating income (in millions) 27,012 20,428 25,942 22,548 20,568 21,957
Operating profit per share2 3.35 2.53 3.14 2.67 2.42 2.55
Share price1, 3 60.68 46.47 48.48 43.91 37.99 32.38
Valuation Ratio
P/OP ratio4 18.10 18.40 15.43 16.46 15.69 12.70
Benchmarks
P/OP Ratio, Competitors5
Costco Wholesale Corp. 30.86 27.28 29.60 29.47 27.62
Target Corp. 13.48 19.56 11.17 13.62 11.35 9.69
P/OP Ratio, Sector
Consumer Staples Distribution & Retail 21.66 16.70 18.40 17.48 14.59
P/OP Ratio, Industry
Consumer Staples 20.97 19.03 20.00 19.45 21.06

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

1 Data adjusted for splits and stock dividends.

2 2024 Calculation
Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= 27,012,000,000 ÷ 8,058,048,674 = 3.35

3 Closing price as at the filing date of Walmart Inc. Annual Report.

4 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 60.68 ÷ 3.35 = 18.10

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Walmart Inc. P/OP ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.

Price to Sales (P/S)

Walmart Inc., historical P/S calculation, comparison to benchmarks

Microsoft Excel
Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019
No. shares of common stock outstanding1 8,058,048,674 8,086,967,799 8,255,338,887 8,451,215,085 8,496,831,660 8,609,052,690
Selected Financial Data (US$)
Net sales (in millions) 642,637 605,881 567,762 555,233 519,926 510,329
Sales per share2 79.75 74.92 68.78 65.70 61.19 59.28
Share price1, 3 60.68 46.47 48.48 43.91 37.99 32.38
Valuation Ratio
P/S ratio4 0.76 0.62 0.70 0.67 0.62 0.55
Benchmarks
P/S Ratio, Competitors5
Costco Wholesale Corp. 1.05 0.95 1.03 0.98 0.88
Target Corp. 0.73 0.70 0.95 0.96 0.69 0.53
P/S Ratio, Sector
Consumer Staples Distribution & Retail 0.74 0.80 0.78 0.70 0.61
P/S Ratio, Industry
Consumer Staples 1.38 1.45 1.50 1.40 1.37

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

1 Data adjusted for splits and stock dividends.

2 2024 Calculation
Sales per share = Net sales ÷ No. shares of common stock outstanding
= 642,637,000,000 ÷ 8,058,048,674 = 79.75

3 Closing price as at the filing date of Walmart Inc. Annual Report.

4 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 60.68 ÷ 79.75 = 0.76

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Walmart Inc. P/S ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Price to Book Value (P/BV)

Walmart Inc., historical P/BV calculation, comparison to benchmarks

Microsoft Excel
Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019
No. shares of common stock outstanding1 8,058,048,674 8,086,967,799 8,255,338,887 8,451,215,085 8,496,831,660 8,609,052,690
Selected Financial Data (US$)
Total Walmart shareholders’ equity (in millions) 83,861 76,693 83,253 80,925 74,669 72,496
Book value per share (BVPS)2 10.41 9.48 10.08 9.58 8.79 8.42
Share price1, 3 60.68 46.47 48.48 43.91 37.99 32.38
Valuation Ratio
P/BV ratio4 5.83 4.90 4.81 4.59 4.32 3.85
Benchmarks
P/BV Ratio, Competitors5
Costco Wholesale Corp. 9.99 10.30 11.30 8.76 8.58
Target Corp. 5.73 6.70 7.79 6.17 4.47 3.52
P/BV Ratio, Sector
Consumer Staples Distribution & Retail 6.21 6.11 5.83 5.11 4.54
P/BV Ratio, Industry
Consumer Staples 7.15 7.11 7.05 6.37 6.15

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

1 Data adjusted for splits and stock dividends.

2 2024 Calculation
BVPS = Total Walmart shareholders’ equity ÷ No. shares of common stock outstanding
= 83,861,000,000 ÷ 8,058,048,674 = 10.41

3 Closing price as at the filing date of Walmart Inc. Annual Report.

4 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 60.68 ÷ 10.41 = 5.83

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Walmart Inc. P/BV ratio increased from 2022 to 2023 and from 2023 to 2024.