Stock Analysis on Net
Stock Analysis on Net

Walmart Inc. (NYSE:WMT)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Beginner level

Historical Valuation Ratios (Summary)

Walmart Inc., historical price multiples (quarterly data)

Microsoft Excel LibreOffice Calc
Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019 Jan 31, 2019 Oct 31, 2018 Jul 31, 2018 Apr 30, 2018 Jan 31, 2018 Oct 31, 2017 Jul 31, 2017 Apr 30, 2017 Jan 31, 2017 Oct 31, 2016 Jul 31, 2016 Apr 30, 2016 Jan 31, 2016 Oct 31, 2015 Jul 31, 2015 Apr 30, 2015 Jan 31, 2015 Oct 31, 2014 Jul 31, 2014 Apr 30, 2014
Price to earnings (P/E) 23.39 23.27 21.69 23.34 25.40 36.14 41.79 55.00 54.35 28.14 26.62 25.20 18.32 17.64 16.02 15.02 15.00 15.30 14.72 12.38 13.48 14.60 15.91
Price to operating profit (P/OP) 19.63 16.77 15.69 15.80 15.12 13.92 12.69 13.94 14.03 12.38 12.85 13.01 10.35 10.56 9.60 9.36 9.29 9.32 8.97 7.35 8.04 8.83 9.59
Price to sales (P/S) 0.78 0.66 0.62 0.65 0.63 0.59 0.55 0.56 0.56 0.50 0.53 0.59 0.48 0.50 0.45 0.45 0.46 0.46 0.45 0.39 0.43 0.49 0.54
Price to book value (P/BV) 5.56 5.12 4.32 4.70 4.64 4.44 3.84 3.94 3.97 3.34 3.37 3.79 3.05 3.26 2.81 2.80 2.89 2.94 2.69 2.35 2.65 3.07 3.20 3.51 3.21 3.41

Based on: 10-Q (filing date: 2020-09-02), 10-Q (filing date: 2020-06-03), 10-K (filing date: 2020-03-20), 10-Q (filing date: 2019-12-04), 10-Q (filing date: 2019-09-06), 10-Q (filing date: 2019-06-07), 10-K (filing date: 2019-03-28), 10-Q (filing date: 2018-11-30), 10-Q (filing date: 2018-09-06), 10-Q (filing date: 2018-06-04), 10-K (filing date: 2018-03-30), 10-Q (filing date: 2017-12-01), 10-Q (filing date: 2017-08-31), 10-Q (filing date: 2017-06-02), 10-K (filing date: 2017-03-31), 10-Q (filing date: 2016-12-01), 10-Q (filing date: 2016-08-31), 10-Q (filing date: 2016-06-03), 10-K (filing date: 2016-03-30), 10-Q (filing date: 2015-12-02), 10-Q (filing date: 2015-09-09), 10-Q (filing date: 2015-06-05), 10-K (filing date: 2015-04-01), 10-Q (filing date: 2014-12-01), 10-Q (filing date: 2014-09-05), 10-Q (filing date: 2014-06-06).

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.’s P/E ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.
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.’s P/OP ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.
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.’s P/S ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Walmart Inc.’s P/BV ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Price to Earnings (P/E)

Walmart Inc., historical P/E calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019 Jan 31, 2019 Oct 31, 2018 Jul 31, 2018 Apr 30, 2018 Jan 31, 2018 Oct 31, 2017 Jul 31, 2017 Apr 30, 2017 Jan 31, 2017 Oct 31, 2016 Jul 31, 2016 Apr 30, 2016 Jan 31, 2016 Oct 31, 2015 Jul 31, 2015 Apr 30, 2015 Jan 31, 2015 Oct 31, 2014 Jul 31, 2014 Apr 30, 2014
No. shares of common stock outstanding1 2,833,752,938 2,831,953,450 2,832,277,220 2,837,174,936 2,844,284,080 2,854,722,137 2,869,684,230 2,905,260,059 2,928,734,576 2,950,844,393 2,950,696,818 2,962,381,445 2,987,201,643 3,014,499,132 3,033,009,079 3,073,190,306 3,093,257,531 3,116,646,721 3,144,335,104 3,201,893,234 3,205,941,803 3,220,548,651 3,226,062,652 3,223,189,895 3,222,513,219 3,223,604,679
Selected Financial Data (US$)
Consolidated net income (loss) attributable to Walmart (in millions) 6,476  3,990  4,141  3,288  3,610  3,842  3,687  1,710  (861) 2,134  2,175  1,749  2,899  3,039  3,757  3,034  3,773  3,079  4,574  3,304  3,475  3,341  4,966  3,711  4,093  3,593 
Earnings per share (EPS)2 6.31 5.31 5.25 5.08 4.52 2.93 2.32 1.78 1.77 3.04 3.34 3.86 4.26 4.51 4.50 4.71 4.76 4.63 4.67 4.71 4.83 5.00 5.07 0.00 0.00 0.00
Share price1, 3 147.68 123.47 113.97 118.69 114.73 106.06 97.13 97.65 96.45 85.42 88.97 97.35 78.07 79.62 72.08 70.67 71.44 70.87 68.80 58.35 65.12 73.06 80.71 86.22 77.51 77.21
Valuation Ratio
P/E ratio4 23.39 23.27 21.69 23.34 25.40 36.14 41.79 55.00 54.35 28.14 26.62 25.20 18.32 17.64 16.02 15.02 15.00 15.30 14.72 12.38 13.48 14.60 15.91
Benchmarks
P/E Ratio, Competitors5
Amazon.com Inc. 120.27 107.96 86.29 76.96 79.46 80.00 79.30 90.24 141.25 193.77 228.24 275.45 254.95 171.23 166.53 175.32 186.29 266.91 463.73
Costco Wholesale Corp. 40.02 36.98 32.71 34.68 35.76 30.65 30.15 26.63 30.51 29.51 27.50 29.57 25.70 31.20 30.52 29.18 27.99 28.58 29.10 29.37 27.57
Dollar General Corp. 21.44 23.43 21.04 23.78 24.63 20.38 19.18 15.05 16.15 14.41 15.73 20.43 16.20 17.35 15.28 16.73 17.30 20.69 20.63 17.32 19.41 20.32 21.58
Home Depot Inc. 26.04 24.24 17.38 21.68 21.33 18.61 18.87 18.09 23.25 23.90 23.51 23.49 21.04 22.66 22.37 20.76 22.62 22.94 23.32 24.49 21.18 22.26 23.15
Lowe’s Cos. Inc. 22.50 21.16 11.96 30.02 33.94 30.97 37.80 19.79 22.59 20.76 20.26 20.14 20.58 23.64 22.62 25.20 24.06 25.75 26.67 23.39 22.12 23.82 26.24
Target Corp. 21.44 22.08 16.12 19.66 17.35 13.68 13.56 11.50 14.71 12.87 12.97 11.87 11.12 10.98 11.11 13.17 12.54 12.15 14.61
TJX Cos. Inc. 92.86 38.61 17.13 22.88 21.70 20.04 21.11 18.79 22.95 20.28 20.19 19.07 19.68 20.89 22.11 22.33 22.23 21.93 22.87 20.97 21.04 19.60 21.62

Based on: 10-Q (filing date: 2020-09-02), 10-Q (filing date: 2020-06-03), 10-K (filing date: 2020-03-20), 10-Q (filing date: 2019-12-04), 10-Q (filing date: 2019-09-06), 10-Q (filing date: 2019-06-07), 10-K (filing date: 2019-03-28), 10-Q (filing date: 2018-11-30), 10-Q (filing date: 2018-09-06), 10-Q (filing date: 2018-06-04), 10-K (filing date: 2018-03-30), 10-Q (filing date: 2017-12-01), 10-Q (filing date: 2017-08-31), 10-Q (filing date: 2017-06-02), 10-K (filing date: 2017-03-31), 10-Q (filing date: 2016-12-01), 10-Q (filing date: 2016-08-31), 10-Q (filing date: 2016-06-03), 10-K (filing date: 2016-03-30), 10-Q (filing date: 2015-12-02), 10-Q (filing date: 2015-09-09), 10-Q (filing date: 2015-06-05), 10-K (filing date: 2015-04-01), 10-Q (filing date: 2014-12-01), 10-Q (filing date: 2014-09-05), 10-Q (filing date: 2014-06-06).

1 Data adjusted for splits and stock dividends.

2 Q2 2021 Calculation
EPS = (Consolidated net income (loss) attributable to WalmartQ2 2021 + Consolidated net income (loss) attributable to WalmartQ1 2021 + Consolidated net income (loss) attributable to WalmartQ4 2020 + Consolidated net income (loss) attributable to WalmartQ3 2020) ÷ No. shares of common stock outstanding
= (6,476,000,000 + 3,990,000,000 + 4,141,000,000 + 3,288,000,000) ÷ 2,833,752,938 = 6.31

3 Closing price as at the filing date of Walmart Inc.’s Quarterly or Annual Report.

4 Q2 2021 Calculation
P/E ratio = Share price ÷ EPS
= 147.68 ÷ 6.31 = 23.39

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.’s P/E ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Price to Operating Profit (P/OP)

Walmart Inc., historical P/OP calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019 Jan 31, 2019 Oct 31, 2018 Jul 31, 2018 Apr 30, 2018 Jan 31, 2018 Oct 31, 2017 Jul 31, 2017 Apr 30, 2017 Jan 31, 2017 Oct 31, 2016 Jul 31, 2016 Apr 30, 2016 Jan 31, 2016 Oct 31, 2015 Jul 31, 2015 Apr 30, 2015 Jan 31, 2015 Oct 31, 2014 Jul 31, 2014 Apr 30, 2014
No. shares of common stock outstanding1 2,833,752,938 2,831,953,450 2,832,277,220 2,837,174,936 2,844,284,080 2,854,722,137 2,869,684,230 2,905,260,059 2,928,734,576 2,950,844,393 2,950,696,818 2,962,381,445 2,987,201,643 3,014,499,132 3,033,009,079 3,073,190,306 3,093,257,531 3,116,646,721 3,144,335,104 3,201,893,234 3,205,941,803 3,220,548,651 3,226,062,652 3,223,189,895 3,222,513,219 3,223,604,679
Selected Financial Data (US$)
Operating income (in millions) 6,059  5,224  5,322  4,718  5,583  4,945  6,067  4,986  5,750  5,154  4,467  4,764  5,969  5,237  6,205  5,119  6,165  5,275  6,642  5,714  6,069  5,680  7,949  6,265  6,740  6,193 
Operating profit per share2 7.52 7.36 7.26 7.51 7.59 7.62 7.65 7.01 6.87 6.90 6.93 7.49 7.54 7.54 7.51 7.55 7.69 7.60 7.67 7.94 8.10 8.27 8.41 0.00 0.00 0.00
Share price1, 3 147.68 123.47 113.97 118.69 114.73 106.06 97.13 97.65 96.45 85.42 88.97 97.35 78.07 79.62 72.08 70.67 71.44 70.87 68.80 58.35 65.12 73.06 80.71 86.22 77.51 77.21
Valuation Ratio
P/OP ratio4 19.63 16.77 15.69 15.80 15.12 13.92 12.69 13.94 14.03 12.38 12.85 13.01 10.35 10.56 9.60 9.36 9.29 9.32 8.97 7.35 8.04 8.83 9.59
Benchmarks
P/OP Ratio, Competitors5
Amazon.com Inc. 93.97 80.81 68.77 60.44 64.01 64.39 64.31 74.65 120.05 151.77 168.59 163.99 141.50 107.31 94.32 91.33 92.95 102.07 123.77
Costco Wholesale Corp. 29.47 27.61 25.16 26.72 27.62 23.41 22.29 19.39 21.34 19.81 18.56 19.47 16.75 20.57 19.45 18.77 17.91 18.37 18.67 19.15 18.09
Dollar General Corp. 16.06 17.44 15.65 17.79 18.49 15.34 14.41 13.02 13.51 11.56 12.05 12.28 9.72 10.43 9.26 10.17 10.51 12.53 12.39 10.46 11.74 12.26 13.00
Home Depot Inc. 18.45 17.14 12.33 15.22 15.18 13.28 13.51 12.45 15.12 14.65 13.82 14.00 12.57 13.51 13.26 12.23 13.24 13.54 13.88 14.84 12.97 13.50 14.03
Lowe’s Cos. Inc. 15.21 14.04 8.11 18.48 20.49 18.51 21.77 12.85 14.16 12.26 10.61 10.60 10.25 11.42 11.97 12.26 12.46 13.33 13.66 13.05 12.26 13.20 14.77
Target Corp. 15.20 15.33 11.35 13.94 12.44 9.80 9.69 8.99 10.87 9.16 8.83 6.98 6.57 6.33 6.12 7.61 7.36 7.18 8.88 9.11 9.34 10.95 11.20
TJX Cos. Inc. 60.02 30.12 12.69 16.79 15.73 14.53 15.31 13.99 16.65 14.11 13.54 11.86 11.90 12.60 13.20 13.36 13.63 13.47 14.06 12.92 12.95 12.02 13.28

Based on: 10-Q (filing date: 2020-09-02), 10-Q (filing date: 2020-06-03), 10-K (filing date: 2020-03-20), 10-Q (filing date: 2019-12-04), 10-Q (filing date: 2019-09-06), 10-Q (filing date: 2019-06-07), 10-K (filing date: 2019-03-28), 10-Q (filing date: 2018-11-30), 10-Q (filing date: 2018-09-06), 10-Q (filing date: 2018-06-04), 10-K (filing date: 2018-03-30), 10-Q (filing date: 2017-12-01), 10-Q (filing date: 2017-08-31), 10-Q (filing date: 2017-06-02), 10-K (filing date: 2017-03-31), 10-Q (filing date: 2016-12-01), 10-Q (filing date: 2016-08-31), 10-Q (filing date: 2016-06-03), 10-K (filing date: 2016-03-30), 10-Q (filing date: 2015-12-02), 10-Q (filing date: 2015-09-09), 10-Q (filing date: 2015-06-05), 10-K (filing date: 2015-04-01), 10-Q (filing date: 2014-12-01), 10-Q (filing date: 2014-09-05), 10-Q (filing date: 2014-06-06).

1 Data adjusted for splits and stock dividends.

2 Q2 2021 Calculation
Operating profit per share = (Operating incomeQ2 2021 + Operating incomeQ1 2021 + Operating incomeQ4 2020 + Operating incomeQ3 2020) ÷ No. shares of common stock outstanding
= (6,059,000,000 + 5,224,000,000 + 5,322,000,000 + 4,718,000,000) ÷ 2,833,752,938 = 7.52

3 Closing price as at the filing date of Walmart Inc.’s Quarterly or Annual Report.

4 Q2 2021 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 147.68 ÷ 7.52 = 19.63

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.’s P/OP ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Price to Sales (P/S)

Walmart Inc., historical P/S calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019 Jan 31, 2019 Oct 31, 2018 Jul 31, 2018 Apr 30, 2018 Jan 31, 2018 Oct 31, 2017 Jul 31, 2017 Apr 30, 2017 Jan 31, 2017 Oct 31, 2016 Jul 31, 2016 Apr 30, 2016 Jan 31, 2016 Oct 31, 2015 Jul 31, 2015 Apr 30, 2015 Jan 31, 2015 Oct 31, 2014 Jul 31, 2014 Apr 30, 2014
No. shares of common stock outstanding1 2,833,752,938 2,831,953,450 2,832,277,220 2,837,174,936 2,844,284,080 2,854,722,137 2,869,684,230 2,905,260,059 2,928,734,576 2,950,844,393 2,950,696,818 2,962,381,445 2,987,201,643 3,014,499,132 3,033,009,079 3,073,190,306 3,093,257,531 3,116,646,721 3,144,335,104 3,201,893,234 3,205,941,803 3,220,548,651 3,226,062,652 3,223,189,895 3,222,513,219 3,223,604,679
Selected Financial Data (US$)
Net sales (in millions) 136,824  133,672  140,608  126,981  129,388  122,949  137,743  123,897  127,059  121,630  135,150  122,136  121,949  116,526  129,750  117,176  119,405  114,986  128,684  116,598  119,330  114,002  130,650  118,076  119,336  114,167 
Sales per share2 189.88 187.38 183.57 182.25 180.71 179.23 177.83 174.76 172.76 169.74 168.01 165.53 162.49 160.18 158.69 156.27 155.07 153.88 152.21 150.09 150.36 149.68 149.48 0.00 0.00 0.00
Share price1, 3 147.68 123.47 113.97 118.69 114.73 106.06 97.13 97.65 96.45 85.42 88.97 97.35 78.07 79.62 72.08 70.67 71.44 70.87 68.80 58.35 65.12 73.06 80.71 86.22 77.51 77.21
Valuation Ratio
P/S ratio4 0.78 0.66 0.62 0.65 0.63 0.59 0.55 0.56 0.56 0.50 0.53 0.59 0.48 0.50 0.45 0.45 0.46 0.46 0.45 0.39 0.43 0.49 0.54
Benchmarks
P/S Ratio, Competitors5
Amazon.com Inc. 4.93 3.85 3.56 3.29 3.81 3.98 3.43 3.64 4.26 3.95 3.89 3.29 3.26 3.10 2.90 2.88 2.98 2.74 2.58
Costco Wholesale Corp. 0.98 0.87 0.80 0.86 0.88 0.76 0.72 0.61 0.69 0.65 0.61 0.63 0.55 0.66 0.61 0.60 0.57 0.58 0.59 0.61 0.58
Dollar General Corp. 1.60 1.57 1.30 1.45 1.50 1.26 1.19 1.09 1.14 0.98 1.03 1.09 0.87 0.96 0.87 0.95 1.01 1.21 1.18 0.99 1.11 1.15 1.22
Home Depot Inc. 2.58 2.37 1.77 2.17 2.17 1.91 1.94 1.81 2.20 2.11 2.01 2.03 1.82 1.93 1.88 1.71 1.83 1.84 1.85 1.95 1.67 1.73 1.77
Lowe’s Cos. Inc. 1.60 1.31 0.71 1.23 1.20 1.02 1.23 1.03 1.26 1.15 1.02 1.04 0.93 1.00 1.08 0.98 1.10 1.18 1.15 1.20 1.09 1.15 1.26
Target Corp. 0.90 0.77 0.69 0.83 0.72 0.55 0.53 0.50 0.62 0.53 0.53 0.45 0.44 0.44 0.44 0.63 0.58 0.56 0.67 0.61 0.63 0.70 0.70
TJX Cos. Inc. 1.96 1.77 1.34 1.76 1.66 1.54 1.66 1.50 1.81 1.54 1.47 1.34 1.35 1.45 1.53 1.56 1.61 1.60 1.68 1.56 1.60 1.49 1.65

Based on: 10-Q (filing date: 2020-09-02), 10-Q (filing date: 2020-06-03), 10-K (filing date: 2020-03-20), 10-Q (filing date: 2019-12-04), 10-Q (filing date: 2019-09-06), 10-Q (filing date: 2019-06-07), 10-K (filing date: 2019-03-28), 10-Q (filing date: 2018-11-30), 10-Q (filing date: 2018-09-06), 10-Q (filing date: 2018-06-04), 10-K (filing date: 2018-03-30), 10-Q (filing date: 2017-12-01), 10-Q (filing date: 2017-08-31), 10-Q (filing date: 2017-06-02), 10-K (filing date: 2017-03-31), 10-Q (filing date: 2016-12-01), 10-Q (filing date: 2016-08-31), 10-Q (filing date: 2016-06-03), 10-K (filing date: 2016-03-30), 10-Q (filing date: 2015-12-02), 10-Q (filing date: 2015-09-09), 10-Q (filing date: 2015-06-05), 10-K (filing date: 2015-04-01), 10-Q (filing date: 2014-12-01), 10-Q (filing date: 2014-09-05), 10-Q (filing date: 2014-06-06).

1 Data adjusted for splits and stock dividends.

2 Q2 2021 Calculation
Sales per share = (Net salesQ2 2021 + Net salesQ1 2021 + Net salesQ4 2020 + Net salesQ3 2020) ÷ No. shares of common stock outstanding
= (136,824,000,000 + 133,672,000,000 + 140,608,000,000 + 126,981,000,000) ÷ 2,833,752,938 = 189.88

3 Closing price as at the filing date of Walmart Inc.’s Quarterly or Annual Report.

4 Q2 2021 Calculation
P/S ratio = Share price ÷ Sales per share
= 147.68 ÷ 189.88 = 0.78

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.’s P/S ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Price to Book Value (P/BV)

Walmart Inc., historical P/BV calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019 Jan 31, 2019 Oct 31, 2018 Jul 31, 2018 Apr 30, 2018 Jan 31, 2018 Oct 31, 2017 Jul 31, 2017 Apr 30, 2017 Jan 31, 2017 Oct 31, 2016 Jul 31, 2016 Apr 30, 2016 Jan 31, 2016 Oct 31, 2015 Jul 31, 2015 Apr 30, 2015 Jan 31, 2015 Oct 31, 2014 Jul 31, 2014 Apr 30, 2014
No. shares of common stock outstanding1 2,833,752,938 2,831,953,450 2,832,277,220 2,837,174,936 2,844,284,080 2,854,722,137 2,869,684,230 2,905,260,059 2,928,734,576 2,950,844,393 2,950,696,818 2,962,381,445 2,987,201,643 3,014,499,132 3,033,009,079 3,073,190,306 3,093,257,531 3,116,646,721 3,144,335,104 3,201,893,234 3,205,941,803 3,220,548,651 3,226,062,652 3,223,189,895 3,222,513,219 3,223,604,679
Selected Financial Data (US$)
Total Walmart shareholders’ equity (in millions) 75,310  68,240  74,669  71,649  70,327  68,205  72,496  71,996  71,185  75,552  77,869  76,145  76,389  73,691  77,798  77,693  76,525  75,183  80,546  79,571  78,871  76,574  81,394  79,109  77,746  73,088 
Book value per share (BVPS)2 26.58 24.10 26.36 25.25 24.73 23.89 25.26 24.78 24.31 25.60 26.39 25.70 25.57 24.45 25.65 25.28 24.74 24.12 25.62 24.85 24.60 23.78 25.23 24.54 24.13 22.67
Share price1, 3 147.68 123.47 113.97 118.69 114.73 106.06 97.13 97.65 96.45 85.42 88.97 97.35 78.07 79.62 72.08 70.67 71.44 70.87 68.80 58.35 65.12 73.06 80.71 86.22 77.51 77.21
Valuation Ratio
P/BV ratio4 5.56 5.12 4.32 4.70 4.64 4.44 3.84 3.94 3.97 3.34 3.37 3.79 3.05 3.26 2.81 2.80 2.89 2.94 2.69 2.35 2.65 3.07 3.20 3.51 3.21 3.41
Benchmarks
P/BV Ratio, Competitors5
Amazon.com Inc. 21.50 17.47 16.11 15.45 18.11 19.84 18.34 20.53 25.33 24.25 24.98 21.52 21.11 20.40 20.47 20.74 21.75 21.09 20.65 22.59 21.04 19.06
Costco Wholesale Corp. 8.76 8.17 7.44 8.17 8.58 7.63 7.50 6.59 7.47 7.32 6.93 7.40 6.39 8.00 5.85 5.88 5.44 5.81 6.11 6.39 6.17 5.84 6.35 5.05
Dollar General Corp. 6.82 6.43 5.38 5.94 5.95 4.99 4.75 4.31 4.40 3.75 3.95 4.41 3.49 3.88 3.54 3.79 3.94 4.64 4.47 3.71 4.04 4.14 4.03 3.85 3.82 3.54
Home Depot Inc. 144.66 114.03 127.78 139.52 79.38 49.72 46.72 41.08 28.38 25.28 26.19 25.88 22.23 16.50 15.83 15.76 12.65 10.79 8.97
Lowe’s Cos. Inc. 29.56 56.37 25.96 36.00 32.50 22.70 24.01 13.54 15.37 13.85 11.89 12.47 11.38 12.01 10.87 9.32 9.74 9.85 8.87 8.33 7.22 6.90 7.10 5.80 4.62 4.10
Target Corp. 6.00 5.48 4.47 5.53 4.62 3.71 3.52 3.36 4.08 3.43 3.25 2.82 2.78 2.78 2.78 3.98 3.56 3.25 3.79 3.40 3.33 3.61 3.63 2.81 2.34 2.15
TJX Cos. Inc. 14.17 13.72 9.42 12.92 12.53 11.88 12.79 11.07 13.06 10.74 10.23 9.89 10.04 10.67 11.27 11.79 11.61 11.18 12.09 10.89 11.15 10.21 11.23 10.28 9.66 8.90

Based on: 10-Q (filing date: 2020-09-02), 10-Q (filing date: 2020-06-03), 10-K (filing date: 2020-03-20), 10-Q (filing date: 2019-12-04), 10-Q (filing date: 2019-09-06), 10-Q (filing date: 2019-06-07), 10-K (filing date: 2019-03-28), 10-Q (filing date: 2018-11-30), 10-Q (filing date: 2018-09-06), 10-Q (filing date: 2018-06-04), 10-K (filing date: 2018-03-30), 10-Q (filing date: 2017-12-01), 10-Q (filing date: 2017-08-31), 10-Q (filing date: 2017-06-02), 10-K (filing date: 2017-03-31), 10-Q (filing date: 2016-12-01), 10-Q (filing date: 2016-08-31), 10-Q (filing date: 2016-06-03), 10-K (filing date: 2016-03-30), 10-Q (filing date: 2015-12-02), 10-Q (filing date: 2015-09-09), 10-Q (filing date: 2015-06-05), 10-K (filing date: 2015-04-01), 10-Q (filing date: 2014-12-01), 10-Q (filing date: 2014-09-05), 10-Q (filing date: 2014-06-06).

1 Data adjusted for splits and stock dividends.

2 Q2 2021 Calculation
BVPS = Total Walmart shareholders’ equity ÷ No. shares of common stock outstanding
= 75,310,000,000 ÷ 2,833,752,938 = 26.58

3 Closing price as at the filing date of Walmart Inc.’s Quarterly or Annual Report.

4 Q2 2021 Calculation
P/BV ratio = Share price ÷ BVPS
= 147.68 ÷ 26.58 = 5.56

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’s required rate of return and its actual rate of return. Walmart Inc.’s P/BV ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.