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Walmart

NYSE:WMT
Snowflake Description

Average dividend payer with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
WMT
NYSE
$338B
Market Cap
  1. Home
  2. US
  3. Consumer Retailing
Company description

Walmart Inc. engages in the retail and wholesale operations in various formats worldwide. The last earnings update was 15 days ago. More info.


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WMT Share Price and Events
7 Day Returns
9%
NYSE:WMT
2.7%
US Consumer Retailing
-4.1%
US Market
1 Year Returns
20.9%
NYSE:WMT
9.2%
US Consumer Retailing
-14.9%
US Market
WMT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Walmart (WMT) 9% 3.1% 1.3% 20.9% 63.9% 48.1%
US Consumer Retailing 2.7% -5.2% -7.8% 9.2% 29.9% 23%
US Market -4.1% -19.1% -23.4% -14.9% 3.5% 14.5%
1 Year Return vs Industry and Market
  • WMT outperformed the Consumer Retailing industry which returned 9.2% over the past year.
  • WMT outperformed the Market in United States of America which returned -14.9% over the past year.
Price Volatility
WMT
Industry
5yr Volatility vs Market
Related Companies

WMT Value

 Is Walmart undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Walmart to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Walmart.

NYSE:WMT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 17 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:WMT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Consumer Retailing Unlevered Beta Simply Wall St/ S&P Global 0.48
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.483 (1 + (1- 21%) (21.61%))
0.709
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (0.8 * 5.44%)
6.09%

Discounted Cash Flow Calculation for NYSE:WMT using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Walmart is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NYSE:WMT DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.09%)
2020 16,515.87 Analyst x11 15,567.50
2021 16,178.07 Analyst x15 14,373.46
2022 16,431.31 Analyst x13 13,760.18
2023 18,236.28 Analyst x5 14,394.80
2024 20,375.35 Analyst x4 15,159.74
2025 21,048.07 Analyst x3 14,761.02
2026 21,597.26 Est @ 2.61% 14,276.45
2027 22,104.47 Est @ 2.35% 13,772.70
2028 22,583.23 Est @ 2.17% 13,263.02
2029 23,043.51 Est @ 2.04% 12,756.23
Present value of next 10 years cash flows $142,085.00
NYSE:WMT DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $23,043.51 × (1 + 1.74%) ÷ (6.09% – 1.74%)
$538,705.66
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $538,705.66 ÷ (1 + 6.09%)10
$298,212.04
NYSE:WMT Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $142,085.00 + $298,212.04
$440,297.04
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $440,297.04 / 2,832.28
$155.46
NYSE:WMT Discount to Share Price
Calculation Result
Value per share (USD) From above. $155.46
Current discount Discount to share price of $119.48
= -1 x ($119.48 - $155.46) / $155.46
23.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Walmart is available for.
Intrinsic value
23%
Share price is $119.48 vs Future cash flow value of $155.46
Current Discount Checks
For Walmart to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Walmart's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Walmart's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Walmart's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Walmart's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:WMT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2020-01-31) in USD $5.22
NYSE:WMT Share Price ** NYSE (2020-04-03) in USD $119.48
United States of America Consumer Retailing Industry PE Ratio Median Figure of 22 Publicly-Listed Consumer Retailing Companies 16.23x
United States of America Market PE Ratio Median Figure of 2,944 Publicly-Listed Companies 12.5x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Walmart.

NYSE:WMT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:WMT Share Price ÷ EPS (both in USD)

= 119.48 ÷ 5.22

22.88x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Walmart is overvalued based on earnings compared to the US Consumer Retailing industry average.
  • Walmart is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Walmart's expected growth come at a high price?
Raw Data
NYSE:WMT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 22.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts
3.3%per year
United States of America Consumer Retailing Industry PEG Ratio Median Figure of 13 Publicly-Listed Consumer Retailing Companies 2.07x
United States of America Market PEG Ratio Median Figure of 2,008 Publicly-Listed Companies 0.91x

*Line of best fit is calculated by linear regression .

NYSE:WMT PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 22.88x ÷ 3.3%

6.91x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Walmart is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Walmart's assets?
Raw Data
NYSE:WMT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2020-01-31) in USD $26.36
NYSE:WMT Share Price * NYSE (2020-04-03) in USD $119.48
United States of America Consumer Retailing Industry PB Ratio Median Figure of 29 Publicly-Listed Consumer Retailing Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,142 Publicly-Listed Companies 1.22x
NYSE:WMT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:WMT Share Price ÷ Book Value per Share (both in USD)

= 119.48 ÷ 26.36

4.53x

* Primary Listing of Walmart.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Walmart is overvalued based on assets compared to the US Consumer Retailing industry average.
X
Value checks
We assess Walmart's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Consumer Retailing industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Consumer Retailing industry average (and greater than 0)? (1 check)
  5. Walmart has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

WMT Future Performance

 How is Walmart expected to perform in the next 1 to 3 years based on estimates from 17 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
3.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Walmart expected to grow at an attractive rate?
  • Walmart's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Walmart's earnings growth is positive but not above the United States of America market average.
  • Walmart's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:WMT Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:WMT Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts 3.3%
NYSE:WMT Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts 2.7%
United States of America Consumer Retailing Industry Earnings Growth Rate Market Cap Weighted Average 4.9%
United States of America Consumer Retailing Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:WMT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:WMT Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2025-01-31 599,502 30,929 17,478 2
2024-01-31 583,133 31,415 16,800 3
2023-01-31 568,243 30,484 15,897 6
2022-01-31 551,166 27,878 15,161 14
2021-01-31 536,916 27,393 14,259 15
2020-04-04
NYSE:WMT Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2020-01-31 523,964 25,255 14,881
2019-10-31 521,086 24,984 14,427
2019-07-31 517,989 27,843 12,849
2019-04-30 515,640 26,155 8,378
2019-01-31 514,405 27,753 6,670
2018-10-31 511,879 28,585 5,158
2018-07-31 510,164 28,072 5,197
2018-04-30 505,491 28,113 8,957
2018-01-31 500,343 28,337 9,862
2017-10-31 495,012 28,952 11,444
2017-07-31 490,012 28,102 12,729
2017-04-30 487,511 30,865 13,603

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Walmart's earnings are expected to grow by 3.3% yearly, however this is not considered high growth (20% yearly).
  • Walmart's revenue is expected to grow by 2.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:WMT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below

All data from Walmart Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:WMT Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2025-01-31 6.57 6.75 6.38 2.00
2024-01-31 6.28 6.55 6.04 3.00
2023-01-31 5.85 6.29 5.33 6.00
2022-01-31 5.46 5.76 5.16 10.00
2021-01-31 5.13 5.25 5.05 10.00
2020-04-04
NYSE:WMT Past Financials Data
Date (Data in USD Millions) EPS *
2020-01-31 5.22
2019-10-31 5.04
2019-07-31 4.45
2019-04-30 2.88
2019-01-31 2.28
2018-10-31 1.75
2018-07-31 1.76
2018-04-30 3.01
2018-01-31 3.29
2017-10-31 3.79
2017-07-31 4.18
2017-04-30 4.43

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Walmart is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Walmart's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Walmart has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

WMT Past Performance

  How has Walmart performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Walmart's growth in the last year to its industry (Consumer Retailing).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Walmart's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Walmart's 1-year earnings growth exceeds its 5-year average (123.1% vs -10.6%)
  • Walmart's earnings growth has exceeded the US Consumer Retailing industry average in the past year (123.1% vs -0.6%).
Earnings and Revenue History
Walmart's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Walmart Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:WMT Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2020-01-31 523,964.00 14,881.00 107,891.00
2019-10-31 521,086.00 14,427.00 107,549.00
2019-07-31 517,989.00 12,849.00 107,268.00
2019-04-30 515,640.00 8,378.00 107,104.00
2019-01-31 514,405.00 6,670.00 106,987.00
2018-10-31 511,879.00 5,158.00 106,826.00
2018-07-31 510,164.00 5,197.00 106,752.00
2018-04-30 505,491.00 8,957.00 105,910.00
2018-01-31 500,343.00 9,862.00 106,010.00
2017-10-31 495,012.00 11,444.00 104,188.00
2017-07-31 490,012.00 12,729.00 103,046.00
2017-04-30 487,511.00 13,603.00 102,385.00
2017-01-31 485,873.00 13,643.00 101,853.00
2016-10-31 484,604.00 14,460.00 100,891.00
2016-07-31 483,833.00 14,730.00 99,563.00
2016-04-30 483,208.00 14,432.00 98,463.00
2016-01-31 482,130.00 14,694.00 97,041.00
2015-10-31 484,028.00 15,086.00 95,267.00
2015-07-31 485,621.00 15,493.00 94,508.00
2015-04-30 485,517.00 15,841.00 93,779.00
2015-01-31 485,651.00 16,078.00 93,418.00
2014-10-31 483,792.00 15,437.00 93,305.00
2014-07-31 480,479.00 15,449.00 92,507.00
2014-04-30 477,184.00 15,685.00 91,765.00
2014-01-31 476,294.00 15,878.00 91,353.00
2013-10-31 474,364.00 17,146.00 90,090.00
2013-07-31 472,476.00 17,042.00 89,636.00
2013-04-30 469,711.00 16,976.00 88,825.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Walmart has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Walmart used its assets more efficiently than the US Consumer Retailing industry average last year based on Return on Assets.
  • Walmart's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Walmart's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Consumer Retailing industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Walmart has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

WMT Health

 How is Walmart's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Walmart's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Walmart's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Walmart's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Walmart's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Walmart Company Filings, last reported 2 months ago.

NYSE:WMT Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2020-01-31 81,552.00 50,347.00 9,465.00
2019-10-31 78,307.00 54,590.00 8,606.00
2019-07-31 77,131.00 53,101.00 9,283.00
2019-04-30 74,910.00 54,208.00 9,255.00
2019-01-31 79,634.00 51,049.00 7,722.00
2018-10-31 79,469.00 54,131.00 9,174.00
2018-07-31 73,812.00 46,860.00 15,840.00
2018-04-30 78,324.00 39,081.00 7,885.00
2018-01-31 80,822.00 39,226.00 6,756.00
2017-10-31 78,906.00 42,930.00 7,026.00
2017-07-31 79,046.00 40,573.00 6,469.00
2017-04-30 76,114.00 40,259.00 6,545.00
2017-01-31 80,535.00 40,000.00 6,867.00
2016-10-31 80,475.00 44,363.00 5,939.00
2016-07-31 79,144.00 41,487.00 7,676.00
2016-04-30 77,758.00 43,748.00 7,597.00
2016-01-31 83,611.00 44,405.00 8,705.00
2015-10-31 82,630.00 46,985.00 6,990.00
2015-07-31 82,124.00 44,966.00 5,751.00
2015-04-30 79,990.00 46,169.00 7,759.00
2015-01-31 85,937.00 47,883.00 9,135.00
2014-10-31 84,053.00 52,761.00 6,718.00
2014-07-31 82,823.00 51,215.00 6,184.00
2014-04-30 78,199.00 52,524.00 6,012.00
2014-01-31 82,830.00 53,546.00 7,286.00
2013-10-31 80,014.00 58,668.00 8,747.00
2013-07-31 77,181.00 54,011.00 9,032.00
2013-04-30 76,390.00 53,875.00 8,866.00
  • Walmart's level of debt (61.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (55.7% vs 61.7% today).
  • Debt is well covered by operating cash flow (50.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.9x coverage).
X
Financial health checks
We assess Walmart's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Walmart has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

WMT Dividends

 What is Walmart's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.81%
Current annual income from Walmart dividends. Estimated to be 1.93% next year.
If you bought $2,000 of Walmart shares you are expected to receive $36 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Walmart's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (2.04%).
  • Walmart's dividend is below the markets top 25% of dividend payers in United States of America (5.7%).
Upcoming dividend payment

Purchase Walmart before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:WMT Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
United States of America Consumer Retailing Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 1.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1941 Stocks 3.1%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2%
United States of America Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:WMT Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2025-01-31 2.84 1.00
2024-01-31 2.64 1.00
2023-01-31 2.43 6.00
2022-01-31 2.26 13.00
2021-01-31 2.16 7.00
2020-04-04
NYSE:WMT Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-18 2.160 1.883
2019-02-19 2.120 1.920
2018-02-20 2.080 2.281
2017-02-21 2.040 2.478
2016-02-18 2.000 2.863
2015-02-19 1.960 2.855
2014-02-20 1.920 2.444
2013-02-21 1.880 2.472
2012-03-01 1.590 2.331
2011-03-03 1.460 2.651
2010-03-04 1.210 2.277

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Walmart's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.4x coverage).
X
Income/ dividend checks
We assess Walmart's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Walmart afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Walmart has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

WMT Management

 What is the CEO of Walmart's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Doug McMillon
COMPENSATION $23,618,233
AGE 53
TENURE AS CEO 6.2 years
CEO Bio

Mr. C. Douglas McMillon, also known as Doug, has been the Chief Executive Officer and President of Walmart Inc. (formerly known as Wal-Mart Stores, Inc.) since February 1, 2014. He is Chief Executive Officer and President of Walmart Inc. at Wal-Mart.com USA, LLC. Mr. McMillon served as the President and Chief Executive Officer of Wal-Mart International Operations at Walmart Inc. (formerly known as Wal-Mart Stores, Inc.) from February 1, 2009 to January 2014. He served as an Executive Vice President of Walmart Inc. (formerly known as Wal-Mart Stores, Inc.) since August 4, 2005. He served as the Chief Executive Officer of Sam's Club Discount Warehouse Stores Operations from August 4, 2005 to February 1, 2009. He served as the Chief Executive Officer and President of SAM'S West, Inc. from August 4, 2005 to January 2009. He was responsible for the overall corporate strategy and direction of Sam's Club. Mr. McMillon served as an Executive Vice President of Merchandising and Replenishment of Sam's Club of Walmart Inc. (formerly known as Wal-Mart Stores, Inc.) until August 2005. He worked two consecutive summers as an Associate at the Wal-Mart Distribution Centers in Northwest Arkansas. He served as a Buyer Trainee for Wal-Mart working in Store #894 in Tulsa, OK. Mr. McMillon served as a Buyer for Food and Candy, Ladieswear and Crafts, a Divisional Merchandise Manager for Home Furnishings and Infants and Toddlers, Vice President and General Merchandise Manager at Sam’s Club International and Senior Vice President and General Merchandise Manager at Walmart Inc. (formerly known as Wal-Mart Stores, Inc.), where he oversaw purchases for Toys, Electronics, Video Games, Photo, Sporting Goods, Stationary and Office Supplies. He serves as a Director of National Chapter of Students in Free Enterprise (SIFE). He has been a Director of Walmart Inc. (formerly known as Wal-Mart Stores, Inc.) since November 25, 2013. He serves as of Director of US-China Business Council, Inc. He serves on the Executive Board of Director of Center of Retailing Excellence at the University of Arkansas and on the Corporate Board of Advisors for National Council at La Raza. He has been a Director of Walmart Inc. (formerly known as Wal-Mart Stores, Inc.) since November 25, 2013. He served as Director of Massmart Holdings Limited from June 20, 2011 to August 20, 2012. He served as a Director of Wal-Mart de Mexico SAB De CV since 2009. He has been recognized as a Young Global Leader by the World Economic Forum. Mr. McMillon also serves as a member of the executive committee of the Business Roundtable, and serves as a member of the boards of directors of a number of organizations, including The Consumer Goods Forum, The US-China Business Council, and Crystal Bridges Museum of American Art. Mr. McMillon graduated from the University of Arkansas in Fayetteville, with a Bachelor of Science in Business Administration (BSBA) in Accounting. Mr. McMillon received an M.B.A. in Finance from the University of Tulsa.

CEO Compensation
  • Doug's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Doug's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Walmart management team in years:

1.8
Average Tenure
51
Average Age
  • The average tenure for the Walmart management team is less than 2 years, this suggests a new team.
Management Team

Doug McMillon

TITLE
President
COMPENSATION
$24M
AGE
53
TENURE
6.2 yrs

M. Biggs

TITLE
Executive VP & CFO
COMPENSATION
$9M
AGE
51
TENURE
4.3 yrs

Judith McKenna

TITLE
Executive VP
COMPENSATION
$13M
AGE
52
TENURE
2.2 yrs

John Furner

TITLE
Executive VP
COMPENSATION
$9M
AGE
44
TENURE
7.3 yrs

Suresh Kumar

TITLE
CTO, Chief Development Officer & Executive VP
AGE
54
TENURE
0.9 yrs

Daniel Binder

TITLE
Vice President of Investor Relations
TENURE
1.8 yrs

Daniel Trujillo

TITLE
Executive VP
TENURE
1.3 yrs

Rachel Brand

TITLE
Executive VP of Global Governance
AGE
45
TENURE
1.7 yrs

Tim Peterson

TITLE
Head of Sales
TENURE
1.8 yrs

Donna Morris

TITLE
Executive VP of Global People & Chief People Officer
AGE
51
TENURE
0.2 yrs
Board of Directors Tenure

Average tenure and age of the Walmart board of directors in years:

5.6
Average Tenure
54.5
Average Age
  • The tenure for the Walmart board of directors is about average.
Board of Directors

Greg Penner

TITLE
Chairman
COMPENSATION
$491K
AGE
50
TENURE
4.8 yrs

Doug McMillon

TITLE
President
COMPENSATION
$24M
AGE
53
TENURE
6.4 yrs

Steve Reinemund

TITLE
Independent Director
COMPENSATION
$297K
AGE
71
TENURE
10.3 yrs

Tim Flynn

TITLE
Independent Director
COMPENSATION
$387K
AGE
62
TENURE
7.8 yrs

Tom Horton

TITLE
Lead Independent Director
COMPENSATION
$369K
AGE
57
TENURE
1.8 yrs

Rob Walton

TITLE
Director
COMPENSATION
$272K
AGE
74
TENURE
42.3 yrs

Marissa Mayer

TITLE
Independent Director
COMPENSATION
$271K
AGE
44
TENURE
8.3 yrs

Steuart Walton

TITLE
Director
COMPENSATION
$283K
AGE
37
TENURE
3.8 yrs

Carla Harris

TITLE
Independent Director
COMPENSATION
$271K
AGE
56
TENURE
2.8 yrs

Sarah Friar

TITLE
Independent Director
COMPENSATION
$362K
AGE
46
TENURE
2.2 yrs
Who owns this company?
Recent Insider Trading
  • Walmart individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
28. Feb 20 Sell M. Biggs Individual 26. Feb 20 26. Feb 20 -16,205 $114.39 $-1,853,609
26. Feb 20 Sell John Furner Individual 24. Feb 20 24. Feb 20 -50,000 $116.50 $-5,825,205
19. Nov 19 Sell Judith McKenna Individual 15. Nov 19 15. Nov 19 -8,300 $119.21 $-989,462
19. Nov 19 Sell John Furner Individual 15. Nov 19 15. Nov 19 -5,902 $119.18 $-703,394
06. Sep 19 Sell David Chojnowski Individual 04. Sep 19 04. Sep 19 -3,680 $115.38 $-424,610
20. Aug 19 Sell John Furner Individual 19. Aug 19 19. Aug 19 -7,900 $114.72 $-906,286
28. Jun 19 Sell Daniel Bartlett Individual 27. Jun 19 27. Jun 19 -3,000 $109.14 $-327,420
24. May 19 Sell Walton Family Company 23. May 19 23. May 19 -841,920 $101.44 $-85,407,227
23. May 19 Sell Walton Family Company 21. May 19 22. May 19 -2,129,150 $102.21 $-216,469,930
21. May 19 Sell Walton Family Company 17. May 19 20. May 19 -2,447,587 $101.55 $-247,710,429
17. May 19 Sell Judith McKenna Individual 17. May 19 17. May 19 -4,243 $100.19 $-425,106
17. May 19 Sell John Furner Individual 17. May 19 17. May 19 -10,000 $101.82 $-1,018,194
X
Management checks
We assess Walmart's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Walmart has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

WMT News

Simply Wall St News

Should Walmart Inc. (NYSE:WMT) Be Part Of Your Dividend Portfolio?

Click the interactive chart for our full dividend analysis NYSE:WMT Historical Dividend Yield, September 2nd 2019Payout ratios Dividends are usually paid out of company earnings. … Dividend Growth Potential While dividend payments have been relatively reliable, it would also be nice if earnings per share (EPS) were growing, as this is essential to maintaining the dividend's purchasing power over the long term. … Conclusion To summarise, shareholders should always check that Walmart's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend.

Simply Wall St -

Have Walmart Inc. (NYSE:WMT) Insiders Been Selling Their Stock?

See our latest analysis for Walmart The Last 12 Months Of Insider Transactions At Walmart In the last twelve months, the biggest single sale by an insider was when the Executive VP &amp; CFO, M. … Insiders haven't bought Walmart stock in the last three months, but there was some selling. … It is good to see high insider ownership, but the insider selling leaves us cautious.

Simply Wall St -

A Look At The Fair Value Of Walmart Inc. (NYSE:WMT)

Using the most recent financial data, we'll take a look at whether the stock is fairly priced by taking the expected future cash flows and discounting them to their present value. … Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) forecast 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Levered FCF ($, Millions) $16.0b $16.7b $17.2b $18.3b $20.0b $21.0b $21.9b $22.7b $23.5b $24.3b Growth Rate Estimate Source Analyst x10 Analyst x11 Analyst x3 Analyst x3 Analyst x2 Est @ 5.02% Est @ 4.33% Est @ 3.85% Est @ 3.52% Est @ 3.28% Present Value ($, Millions) Discounted @ 7.5% $14.9k $14.5k $13.9k $13.7k $13.9k $13.6k $13.2k $12.8k $12.3k $11.8k ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF)= $134.5b After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = US$24b × (1 + 2.7%) ÷ (7.5% – 2.7%) = US$524b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = $US$524b ÷ ( 1 + 7.5%)10 = $254.26b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is $388.76b.

Simply Wall St -

Walmart (NYSE:WMT) Shareholders Booked A 43% Gain In The Last Three Years

(NYSE:WMT) shareholders have seen the share price rise 43% over three years, well in excess of the market return (30%, not including dividends). … During the three years of share price growth, Walmart actually saw its earnings per share (EPS) drop 14% per year. … When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return.

Simply Wall St -

Is It Worth Considering Walmart Inc. (NYSE:WMT) For Its Upcoming Dividend?

Growing the dividend payout ratio while earnings are declining can deliver nice returns for a while, but it's always worth checking for when the company can't increase the payout ratio any more - because then the music stops. … We're not enthused by the declining earnings per share, although at least the company's payout ratio is within a reasonable range, meaning it may not be at imminent risk of a dividend cut. … Overall, it's not a bad combination, but we feel that there are likely more attractive dividend prospects out there.

Simply Wall St -

Is Walmart (NYSE:WMT) Using Too Much Debt?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that 'Volatility is far from synonymous with risk.' It's only natural to consider a company's balance sheet when you examine how risky it is, since debt is often involved when a business collapses. … NYSE:WMT Historical Debt, July 29th 2019 How Healthy Is Walmart's Balance Sheet? … Our View Walmart's conversion of EBIT to free cash flow suggests it can handle its debt as easily as Cristiano Ronaldo could score a goal against an under 14's goalkeeper.

Simply Wall St -

Does Walmart Inc. (NYSE:WMT) Create Value For Shareholders?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Walmart: 12% = US$8.4b ÷ US$75b (Based on the trailing twelve months to April 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Does Walmart Have A Good Return On Equity? … The Importance Of Debt To Return On Equity Most companies need money -- from somewhere -- to grow their profits.

Simply Wall St -

Our Take On Walmart Inc.'s (NYSE:WMT) CEO Salary

We looked at a group of companies with market capitalizations over US$8.0b and the median CEO total compensation was US$11m. … Thus we can conclude that Doug McMillon receives more in total compensation than the median of a group of large companies in the same market as Walmart Inc.. … We compared the total CEO remuneration paid by Walmart Inc., and compared it to remuneration at a group of other large companies.

Simply Wall St -

Here's What Walmart Inc.'s (NYSE:WMT) P/E Is Telling Us

View our latest analysis for Walmart How Do I Calculate Walmart's Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Walmart: P/E of 38.36 = $110.49 ÷ $2.88 (Based on the trailing twelve months to April 2019.) Is A High Price-to-Earnings Ratio Good? … A higher P/E ratio means that investors are paying a higher price for each $1 of company earnings.

Simply Wall St -

Is Walmart Inc.’s (NYSE:WMT) 14% ROCE Any Good?

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Walmart: 0.14 = US$22b ÷ (US$235b - US$80b) (Based on the trailing twelve months to April 2019.) So, Walmart has an ROCE of 14%. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise. … The Bottom Line On Walmart's ROCE While its ROCE looks good, it's worth remembering that the current liabilities are making the business look better.

Simply Wall St -

WMT Company Info

Description

Walmart Inc. engages in the retail and wholesale operations in various formats worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; e-commerce Websites, such as walmart.com, jet.com, shoes.com, and samsclub.com; and mobile commerce applications. The company offers grocery products, including meat, produce, natural and organics, deli and bakery, dairy, frozen foods, alcoholic and nonalcoholic beverages, floral and dry grocery, as well as consumables, such as health and beauty aids, baby products, household chemicals, paper goods, and pet supplies; and health and wellness products. It also provides electronics, cameras and supplies, photo processing services, wireless, movies, music, video games, and books; stationery, automotive, hardware and paint, sporting goods, and outdoor living and horticulture; apparel for women, girls, men, boys, and infants, as well as shoes, jewelry, and accessories; and home furnishings, housewares and small appliances, bedding, home decor, toys, fabrics, crafts, and seasonal merchandise, as well as brand name merchandise. In addition, the company offers fuel and financial services and related products, including money orders, prepaid cards, wire and money transfers, check cashing, and bill payment. It operates approximately 11,300 stores and various e-commerce Websites under the 58 banners in 27 countries. The company was formerly known as Wal-Mart Stores, Inc. and changed its name to Walmart Inc. in February 2018. Walmart Inc. was founded in 1945 and is based in Bentonville, Arkansas.

Details
Name: Walmart Inc.
WMT
Exchange: NYSE
Founded: 1945
$338,400,482,245
2,832,277,220
Website: http://www.stock.walmart.com
Address: Walmart Inc.
702 SW 8th Street,
Bentonville,
Arkansas, 72716,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE WMT Common Shares New York Stock Exchange US USD 03. Apr 1972
DB WMT Common Shares Deutsche Boerse AG DE EUR 03. Apr 1972
XTRA WMT Common Shares XETRA Trading Platform DE EUR 03. Apr 1972
LSE 0R1W Common Shares London Stock Exchange GB USD 03. Apr 1972
SWX WMT Common Shares SIX Swiss Exchange CH CHF 03. Apr 1972
WBAG WMT Common Shares Wiener Boerse AG AT EUR 03. Apr 1972
SNSE WMT Common Shares Santiago Stock Exchange CL USD 03. Apr 1972
BVC WMT Common Shares Bolsa de Valores de Colombia CO COP 03. Apr 1972
BMV WMT * Common Shares Bolsa Mexicana de Valores MX MXN 03. Apr 1972
BVL WMT Common Shares Bolsa de Valores de Lima PE USD 03. Apr 1972
ETLX WMT-U Common Shares Eurotlx IT EUR 03. Apr 1972
BOVESPA WALM34 BDR REPR 1/4 COM STK NPV Bolsa de Valores de Sao Paulo BR BRL 28. Dec 2011
BASE WMT CEDEARS 3 REP 1 COM USD0.10 Buenos Aires Stock Exchange AR ARS 19. Jul 2001
Number of employees
Current staff
Staff numbers
2,200,000
Walmart employees.
Industry
Hypermarkets and Super Centers
Consumer Retailing
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/04 00:04
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2020/03/20
Last earnings reported: 2020/01/31
Last annual earnings reported: 2020/01/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.