Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
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).
Historical Valuation Ratios (Summary)
Walmart Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30).
| 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 decreased from Q4 2024 to Q1 2025 but then increased from Q1 2025 to Q2 2025 exceeding Q4 2024 level. |
| 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 Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025. |
| 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 increased from Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025. |
| 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 Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025. |
Price to Earnings (P/E)
Walmart Inc., historical P/E calculation (quarterly data)
| Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 8,038,251,174 | 8,043,543,330 | 8,058,048,674 | 8,076,701,109 | 8,074,691,550 | 8,078,505,336 | 8,086,967,799 | 8,090,400,162 | 8,142,713,811 | 8,223,450,150 | 8,255,338,887 | 8,321,635,374 | 8,365,493,448 | 8,406,437,781 | 8,451,215,085 | 8,487,857,778 | 8,501,258,814 | 8,495,860,350 | 8,496,831,660 | 8,511,524,808 | 8,532,852,240 | 8,564,166,411 | 8,609,052,690 | 8,715,780,177 | 8,786,203,728 | 8,852,533,179 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Consolidated net income (loss) attributable to Walmart (in millions) | 4,501) | 5,104) | 5,494) | 453) | 7,891) | 1,673) | 6,275) | (1,798) | 5,149) | 2,054) | 3,562) | 3,105) | 4,276) | 2,730) | (2,091) | 5,135) | 6,476) | 3,990) | 4,141) | 3,288) | 3,610) | 3,842) | 3,687) | 1,710) | (861) | 2,134) | ||||||||
| Earnings per share (EPS)2 | 1.93 | 2.35 | 1.92 | 2.02 | 1.74 | 1.40 | 1.44 | 1.11 | 1.70 | 1.58 | 1.66 | 0.96 | 1.20 | 1.46 | 1.60 | 2.33 | 2.10 | 1.77 | 1.75 | 1.69 | 1.51 | 0.98 | 0.77 | 0.00 | 0.00 | 0.00 | ||||||||
| Share price1, 3 | 77.23 | 65.88 | 60.68 | 51.90 | 53.86 | 49.61 | 46.47 | 51.12 | 44.33 | 41.77 | 48.48 | 45.71 | 49.52 | 47.28 | 43.91 | 50.17 | 49.23 | 41.16 | 37.99 | 39.56 | 38.24 | 35.35 | 32.38 | 32.55 | 32.15 | 28.47 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/E ratio4 | 39.92 | 27.98 | 31.52 | 25.73 | 30.97 | 35.47 | 32.17 | 46.12 | 26.02 | 26.43 | 29.27 | 47.43 | 41.22 | 32.45 | 27.47 | 21.57 | 23.39 | 23.27 | 21.69 | 23.34 | 25.39 | 36.14 | 41.79 | — | — | — | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 54.68 | 52.08 | 47.93 | 45.01 | 39.79 | 37.86 | 35.14 | 34.43 | 36.38 | 38.26 | 42.83 | 47.19 | 39.65 | 35.91 | 32.99 | 37.85 | 40.02 | 36.98 | 32.71 | 34.68 | 35.76 | — | — | — | ||||||||
| Dollar General Corp. | 13.05 | 18.63 | 19.94 | 15.14 | 14.02 | 14.93 | 18.67 | 22.44 | 23.98 | 22.17 | 21.90 | 20.46 | 20.82 | 18.00 | 16.92 | 20.63 | 21.44 | 23.43 | 21.04 | 23.78 | 24.63 | 20.38 | 19.18 | — | — | — | ||||||||
| Sysco Corp. | — | — | 19.28 | 17.51 | 19.35 | 18.31 | 19.90 | 24.84 | 27.85 | 28.54 | 31.15 | 42.83 | 52.58 | 59.54 | 77.16 | — | — | — | 135.70 | 19.23 | 21.23 | 24.08 | 22.48 | — | — | — | ||||||||
| Target Corp. | 15.77 | 17.49 | 18.60 | 16.59 | 16.67 | 23.57 | 27.08 | 21.82 | 17.50 | 13.23 | 14.38 | 17.57 | 19.28 | 18.16 | 20.39 | 23.56 | 21.44 | 22.08 | 16.12 | 19.66 | 17.35 | 13.68 | 13.56 | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (Consolidated net income (loss) attributable to WalmartQ2 2025
+ Consolidated net income (loss) attributable to WalmartQ1 2025
+ Consolidated net income (loss) attributable to WalmartQ4 2024
+ Consolidated net income (loss) attributable to WalmartQ3 2024)
÷ No. shares of common stock outstanding
= (4,501,000,000 + 5,104,000,000 + 5,494,000,000 + 453,000,000)
÷ 8,038,251,174 = 1.93
3 Closing price as at the filing date of Walmart Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= 77.23 ÷ 1.93 = 39.92
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 decreased from Q4 2024 to Q1 2025 but then increased from Q1 2025 to Q2 2025 exceeding Q4 2024 level. |
Price to Operating Profit (P/OP)
Walmart Inc., historical P/OP calculation (quarterly data)
| Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 8,038,251,174 | 8,043,543,330 | 8,058,048,674 | 8,076,701,109 | 8,074,691,550 | 8,078,505,336 | 8,086,967,799 | 8,090,400,162 | 8,142,713,811 | 8,223,450,150 | 8,255,338,887 | 8,321,635,374 | 8,365,493,448 | 8,406,437,781 | 8,451,215,085 | 8,487,857,778 | 8,501,258,814 | 8,495,860,350 | 8,496,831,660 | 8,511,524,808 | 8,532,852,240 | 8,564,166,411 | 8,609,052,690 | 8,715,780,177 | 8,786,203,728 | 8,852,533,179 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Operating income (in millions) | 7,940) | 6,841) | 7,254) | 6,202) | 7,316) | 6,240) | 5,561) | 2,695) | 6,854) | 5,318) | 5,887) | 5,792) | 7,354) | 6,909) | 5,487) | 5,778) | 6,059) | 5,224) | 5,322) | 4,718) | 5,583) | 4,945) | 6,067) | 4,986) | 5,750) | 5,154) | ||||||||
| Operating profit per share2 | 3.51 | 3.43 | 3.35 | 3.13 | 2.70 | 2.64 | 2.53 | 2.57 | 2.93 | 2.96 | 3.14 | 3.07 | 3.05 | 2.88 | 2.67 | 2.64 | 2.51 | 2.45 | 2.42 | 2.50 | 2.53 | 2.54 | 2.55 | 0.00 | 0.00 | 0.00 | ||||||||
| Share price1, 3 | 77.23 | 65.88 | 60.68 | 51.90 | 53.86 | 49.61 | 46.47 | 51.12 | 44.33 | 41.77 | 48.48 | 45.71 | 49.52 | 47.28 | 43.91 | 50.17 | 49.23 | 41.16 | 37.99 | 39.56 | 38.24 | 35.35 | 32.38 | 32.55 | 32.15 | 28.47 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/OP ratio4 | 21.99 | 19.19 | 18.10 | 16.56 | 19.94 | 18.77 | 18.40 | 19.93 | 15.13 | 14.11 | 15.43 | 14.89 | 16.23 | 16.40 | 16.46 | 19.02 | 19.63 | 16.77 | 15.69 | 15.80 | 15.12 | 13.92 | 12.70 | — | — | — | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 43.38 | 41.40 | 38.28 | 35.14 | 30.86 | 29.01 | 26.78 | 25.80 | 27.28 | 28.53 | 31.72 | 34.97 | 29.60 | 26.67 | 24.38 | 28.20 | 29.47 | 27.61 | 25.16 | 26.72 | 27.62 | — | — | — | ||||||||
| Dollar General Corp. | 8.76 | 12.50 | 13.54 | 10.37 | 9.80 | 10.68 | 13.55 | 16.55 | 17.78 | 16.49 | 16.32 | 15.17 | 15.48 | 13.42 | 12.64 | 15.44 | 16.06 | 17.44 | 15.65 | 17.79 | 18.49 | 15.34 | 14.41 | — | — | — | ||||||||
| Sysco Corp. | — | — | 11.77 | 11.39 | 12.72 | 10.65 | 11.59 | 13.54 | 15.00 | 16.90 | 18.10 | 19.99 | 21.94 | 24.74 | 28.14 | 126.44 | 243.21 | 61.78 | 39.01 | 13.16 | 15.58 | 17.24 | 16.15 | — | — | — | ||||||||
| Target Corp. | 11.58 | 12.73 | 13.48 | 12.05 | 11.95 | 16.74 | 19.56 | 15.72 | 12.81 | 9.79 | 11.17 | 13.72 | 14.12 | 13.29 | 13.62 | 15.26 | 15.20 | 15.33 | 11.35 | 13.94 | 12.44 | 9.80 | 9.69 | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Operating incomeQ2 2025
+ Operating incomeQ1 2025
+ Operating incomeQ4 2024
+ Operating incomeQ3 2024)
÷ No. shares of common stock outstanding
= (7,940,000,000 + 6,841,000,000 + 7,254,000,000 + 6,202,000,000)
÷ 8,038,251,174 = 3.51
3 Closing price as at the filing date of Walmart Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 77.23 ÷ 3.51 = 21.99
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 Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025. |
Price to Sales (P/S)
Walmart Inc., historical P/S calculation (quarterly data)
| Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 8,038,251,174 | 8,043,543,330 | 8,058,048,674 | 8,076,701,109 | 8,074,691,550 | 8,078,505,336 | 8,086,967,799 | 8,090,400,162 | 8,142,713,811 | 8,223,450,150 | 8,255,338,887 | 8,321,635,374 | 8,365,493,448 | 8,406,437,781 | 8,451,215,085 | 8,487,857,778 | 8,501,258,814 | 8,495,860,350 | 8,496,831,660 | 8,511,524,808 | 8,532,852,240 | 8,564,166,411 | 8,609,052,690 | 8,715,780,177 | 8,786,203,728 | 8,852,533,179 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Net sales (in millions) | 167,767) | 159,938) | 171,914) | 159,439) | 160,280) | 151,004) | 162,743) | 151,469) | 151,381) | 140,288) | 151,525) | 139,207) | 139,871) | 137,159) | 150,985) | 133,752) | 136,824) | 133,672) | 140,608) | 126,981) | 129,388) | 122,949) | 137,743) | 123,897) | 127,059) | 121,630) | ||||||||
| Sales per share2 | 81.99 | 81.01 | 79.75 | 78.43 | 77.46 | 76.33 | 74.92 | 73.50 | 71.52 | 69.42 | 68.78 | 68.16 | 67.15 | 66.46 | 65.70 | 64.19 | 63.29 | 62.46 | 61.19 | 60.75 | 60.24 | 59.74 | 59.28 | 0.00 | 0.00 | 0.00 | ||||||||
| Share price1, 3 | 77.23 | 65.88 | 60.68 | 51.90 | 53.86 | 49.61 | 46.47 | 51.12 | 44.33 | 41.77 | 48.48 | 45.71 | 49.52 | 47.28 | 43.91 | 50.17 | 49.23 | 41.16 | 37.99 | 39.56 | 38.24 | 35.35 | 32.38 | 32.55 | 32.15 | 28.47 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/S ratio4 | 0.94 | 0.81 | 0.76 | 0.66 | 0.70 | 0.65 | 0.62 | 0.70 | 0.62 | 0.60 | 0.70 | 0.67 | 0.74 | 0.71 | 0.67 | 0.78 | 0.78 | 0.66 | 0.62 | 0.65 | 0.63 | 0.59 | 0.55 | — | — | — | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 1.61 | 1.50 | 1.33 | 1.22 | 1.05 | 0.98 | 0.92 | 0.89 | 0.95 | 1.01 | 1.15 | 1.22 | 1.03 | 0.93 | 0.82 | 0.97 | 0.98 | 0.87 | 0.80 | 0.86 | 0.88 | — | — | — | ||||||||
| Dollar General Corp. | 0.47 | 0.72 | 0.86 | 0.74 | 0.78 | 0.92 | 1.19 | 1.46 | 1.57 | 1.46 | 1.54 | 1.47 | 1.57 | 1.43 | 1.33 | 1.62 | 1.60 | 1.57 | 1.30 | 1.45 | 1.50 | 1.26 | 1.19 | — | — | — | ||||||||
| Sysco Corp. | — | — | 0.48 | 0.47 | 0.52 | 0.43 | 0.46 | 0.51 | 0.54 | 0.58 | 0.62 | 0.65 | 0.68 | 0.73 | 0.79 | 0.96 | 0.85 | 0.63 | 0.55 | 0.44 | 0.64 | 0.68 | 0.63 | — | — | — | ||||||||
| Target Corp. | 0.67 | 0.69 | 0.73 | 0.57 | 0.53 | 0.60 | 0.70 | 0.70 | 0.69 | 0.73 | 0.95 | 1.17 | 1.23 | 1.16 | 0.96 | 1.03 | 0.90 | 0.77 | 0.69 | 0.83 | 0.72 | 0.55 | 0.53 | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024)
÷ No. shares of common stock outstanding
= (167,767,000,000 + 159,938,000,000 + 171,914,000,000 + 159,439,000,000)
÷ 8,038,251,174 = 81.99
3 Closing price as at the filing date of Walmart Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 77.23 ÷ 81.99 = 0.94
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 increased from Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025. |
Price to Book Value (P/BV)
Walmart Inc., historical P/BV calculation (quarterly data)
| Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 8,038,251,174 | 8,043,543,330 | 8,058,048,674 | 8,076,701,109 | 8,074,691,550 | 8,078,505,336 | 8,086,967,799 | 8,090,400,162 | 8,142,713,811 | 8,223,450,150 | 8,255,338,887 | 8,321,635,374 | 8,365,493,448 | 8,406,437,781 | 8,451,215,085 | 8,487,857,778 | 8,501,258,814 | 8,495,860,350 | 8,496,831,660 | 8,511,524,808 | 8,532,852,240 | 8,564,166,411 | 8,609,052,690 | 8,715,780,177 | 8,786,203,728 | 8,852,533,179 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Total Walmart shareholders’ equity (in millions) | 84,423) | 81,293) | 83,861) | 79,456) | 79,556) | 72,405) | 76,693) | 72,253) | 77,569) | 76,896) | 83,253) | 82,274) | 80,529) | 78,335) | 80,925) | 81,431) | 75,310) | 68,240) | 74,669) | 71,649) | 70,327) | 68,205) | 72,496) | 71,996) | 71,185) | 75,552) | ||||||||
| Book value per share (BVPS)2 | 10.50 | 10.11 | 10.41 | 9.84 | 9.85 | 8.96 | 9.48 | 8.93 | 9.53 | 9.35 | 10.08 | 9.89 | 9.63 | 9.32 | 9.58 | 9.59 | 8.86 | 8.03 | 8.79 | 8.42 | 8.24 | 7.96 | 8.42 | 8.26 | 8.10 | 8.53 | ||||||||
| Share price1, 3 | 77.23 | 65.88 | 60.68 | 51.90 | 53.86 | 49.61 | 46.47 | 51.12 | 44.33 | 41.77 | 48.48 | 45.71 | 49.52 | 47.28 | 43.91 | 50.17 | 49.23 | 41.16 | 37.99 | 39.56 | 38.24 | 35.35 | 32.38 | 32.55 | 32.15 | 28.47 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/BV ratio4 | 7.35 | 6.52 | 5.83 | 5.28 | 5.47 | 5.54 | 4.90 | 5.72 | 4.65 | 4.47 | 4.81 | 4.62 | 5.14 | 5.07 | 4.59 | 5.23 | 5.56 | 5.12 | 4.32 | 4.70 | 4.64 | 4.44 | 3.85 | 3.94 | 3.97 | 3.34 | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 17.05 | 17.16 | 15.69 | 11.22 | 9.99 | 9.64 | 9.33 | 9.43 | 10.30 | 10.82 | 12.16 | 13.20 | 11.30 | 10.30 | 9.16 | 11.01 | 8.76 | 8.17 | 7.44 | 8.17 | 8.58 | 7.63 | 7.50 | 6.59 | ||||||||
| Dollar General Corp. | 2.55 | 4.02 | 4.91 | 4.50 | 4.83 | 5.98 | 8.14 | 8.67 | 8.97 | 8.46 | 8.39 | 8.08 | 8.59 | 7.72 | 6.74 | 7.52 | 6.82 | 6.43 | 5.38 | 5.94 | 5.95 | 4.99 | 4.75 | 4.31 | 4.40 | 3.75 | ||||||||
| Sysco Corp. | — | — | 20.26 | 17.31 | 16.76 | 15.58 | 17.54 | 24.38 | 27.53 | 37.01 | 30.62 | 32.41 | 33.82 | 24.39 | 26.05 | 30.44 | 27.33 | 23.80 | 25.24 | 12.98 | 15.23 | 16.64 | 15.04 | 15.86 | 15.48 | 12.70 | ||||||||
| Target Corp. | 4.90 | 5.22 | 5.73 | 4.81 | 4.69 | 5.53 | 6.70 | 6.83 | 6.98 | 7.19 | 7.79 | 8.63 | 8.18 | 7.50 | 6.17 | 6.76 | 6.00 | 5.48 | 4.47 | 5.53 | 4.62 | 3.71 | 3.52 | 3.36 | 4.08 | 3.43 | ||||||||
Based on: 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Total Walmart shareholders’ equity ÷ No. shares of common stock outstanding
= 84,423,000,000 ÷ 8,038,251,174 = 10.50
3 Closing price as at the filing date of Walmart Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 77.23 ÷ 10.50 = 7.35
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 Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025. |