Zurück zu den Rankings

Walmart Inc. (WMT)

Fair bewertet
Consumer DefensiveDiscount StoresUnited States

Fundamental

49

Kurs

$104.02

Marktkapitalisierung

$853.59B

Teil 1 · Was das Unternehmen wert ist

Übersicht

Walmart operates supercentres, discount stores and neighbourhood grocery stores under its own name in the United States, plus Sam's Club membership warehouses, and runs a large e-commerce business alongside them. Outside the US it owns retail chains in Mexico, Central America, Canada and China. It sells groceries, general merchandise, apparel and household goods, and has added a growing advertising business that sells shelf space and digital ads to the brands stocked on its shelves.

Wie das Geld verdient wird

Revenue is recognized transaction by transaction, every time a customer checks out in a store or online, so sales volume rather than price per item is the main driver of the top line. Sam's Club adds recurring membership fees paid to shop there. Because Walmart buys in enormous volume, it negotiates low wholesale prices from suppliers and keeps a thin margin on each item, relying on scale and inventory turnover — plus the fast-growing, higher-margin advertising business — to generate profit.

Umsatz nach Segment

Walmart U.S.68.4%

Supercentres, discount stores and neighbourhood markets across the United States, plus Walmart's US e-commerce and advertising businesses.

Walmart International18.5%

Retail operations outside the US, mainly in Mexico, Central America, Canada and China.

Sam's Club13.2%

Membership warehouse clubs in the US selling groceries and general merchandise in bulk to fee-paying members.

Wettbewerbsvorteil

Kostenvorteil · Breit

Walmart's purchase volumes are so large that it can negotiate wholesale prices few competitors can match, and it spreads the fixed costs of its supply chain and distribution network over more sales than almost anyone else. That combination lets it sustain everyday low prices while still turning a profit, which smaller or regional retailers struggle to match without losing money.

Was die Nachfrage antreibt

Defensiv

A large share of Walmart's sales is groceries and everyday household essentials, categories people keep buying in a recession and where Walmart's low prices can even attract more customers trading down from pricier retailers. General merchandise, apparel and electronics are more discretionary and do soften in a downturn, but the grocery-heavy mix keeps overall demand more stable than at a typical discretionary retailer.

Wichtigste Risiken

  • Execution risk at massive scale — The company operates at such scale that small operational mistakes in pricing, inventory or logistics can become expensive very quickly once repeated across thousands of stores and clubs.
  • Low-price strategy limits margin — Walmart's everyday-low-price positioning constrains how much it can raise prices when its own costs rise, so cost inflation it cannot pass on to customers falls straight onto margin.
  • E-commerce investment burden — Growing online and delivery sales requires continuous, heavy investment in fulfilment and logistics, and this channel remains less profitable than in-store sales even as it grows.
  • Labor cost inflation and unionization — As one of the largest private employers, Walmart is exposed to wage inflation, benefit costs and unionization efforts that can raise operating costs or disrupt store operations.

Die Argumente dafür

Buyers argue that Walmart's scale and low-price positioning make it a natural destination when shoppers are cautious, that its advertising and membership businesses add higher-margin profit on top of thin retail margins, and that record digital sales show it competing effectively online as well as in stores.

Die Argumente dagegen

Sellers worry that Walmart's everyday-low-price model leaves little room to raise prices when its own costs rise, that continued heavy investment is needed to keep e-commerce and delivery competitive with rivals, and that a change in leadership introduces execution uncertainty at a company already operating at enormous scale.

Written by the editors, published on 18. August 2026

Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

Bilanz & Liquidität

Umsatz

$728.47B

Letzte 12 Monate (bis 31.7.2026)

Nettogewinn

$22.08B

Letzte 12 Monate (bis 31.7.2026)

Freier Cashflow

$14.92B

Gesamtes Eigenkapital

$99.62B

Gesamtverbindlichkeiten

$178.78B

Current Ratio

0.77

Zinsdeckungsgrad

17.36

Schulden/EBITDA

1.68

Gewinn je Aktie

Umsatz & Nettogewinn

Freier Cashflow

Ertragsaufschlüsselung

Historische Aufstellung

Margen im Zeitverlauf

Verschuldung im Zeitverlauf

Wie schwer die Schulden wiegen

Wachstumsraster

Wachstum — Umsatz

Innerer-Wert-Schätzung

Allgemeiner FallFair bewertet

Innerer Wert

$102.25

Aktueller Kurs

$104.02

Sicherheitsmarge

-1.7%

Innerer-Wert-Spanne

$77.92 - $126.57

Streubreite zwischen den verwendeten Bewertungsmethoden, kein statistisch kalibriertes Konfidenzintervall.

Bewertungsmethoden

Kursziel der Analysten:$127.43
Diskontierter Cashflow (DCF):$101.78
Gewinnmultiplikator (P/E):$98.33
Graham-Wachstumsformel:$76.93
Ertragskraftwert (EPV):$39.98
Gerechtfertigtes P/B:$58.57
Dividendendiskontierung (Gordon):$24.41
P/FFO, Funds from Operations:$72.79
Gewinn im Zyklusmittel:$72.93
Umsatzmultiplikator:$107.24
Analystenkonsens:Starker Kauf (42B / 6H / 0S)
Letzte Gewinnüberraschung:+8.19%

Bewertungskennzahlen

P/E-Verhältnis

37.78

ROE

22.0%

P/B-Verhältnis

8.42

P/FCF

61.23

Bruttomarge

24.5%

ROIC

14.3%

Rentabilitäts-Radar

Wertschöpfung (Wettbewerbsvorteil)

ROIC

14.3%

WACC

7.6%

ROIC − WACC

+6.7 pp

Der ROIC übersteigt die Kapitalkosten: Das Unternehmen schafft Wert für die Aktionäre.

Fundamentalanalyse-Kriterien

Bestanden (15)

  • Price CAGR 16.98%
  • ROIC 14.3%
  • Debt/Equity ratio
  • Positive Free Cash Flow
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • Low reliance on intangibles
  • ROE 22.7%
  • Analyst Consensus 88% Buy
  • Earnings Surprise avg 2.7%
  • Earnings Quality (OCF/NI) 1.94
  • Share Dilution -0.6%
  • Piotroski F-Score 6/9

Nicht bestanden (12)

  • EPS shows upward trend
  • EPS CAGR -0.76%
  • Gross Margin 24.5%
  • P/FCF 61.23
  • P/B Ratio 8.42
  • Operating Margin 4.4%
  • CapEx intensity
  • Price below Graham Number
  • DCF valuation (Overvalued)
  • Revenue Growth 5Y 5.0%
  • PEG Ratio 3.34
  • Net Margin Trend 3.0% vs 3.1%

Nicht verfügbar (1)

  • Dividend Payout NaN%

Piotroski F-Score

6/9

Gemischte Signale: Einige Bereiche bedürfen Aufmerksamkeit

score
criteria

Gewinnqualität

1.94

Hohe Qualität: Gewinne durch Cashflow gedeckt

Aktienverwässerung

-0.6%

Aktienrückkäufe. Aktionärsfreundlich

Institutionelle Beteiligungen

Unternehmensführung

Führungsteam

NamePositionAlter
Mr. John R. FurnerPresident, CEO & Director50
Mr. John David Rainey Jr.Executive VP & CFO55
Mr. Suresh Kumar Ph.D.Executive VP, Global CTO & Chief Development Officer60
Mr. C. Douglas McMillonExecutive Officer59
Mr. Daniel DankerExecutive Vice President of AI Acceleration, Product & Design44
Mr. Dwayne M. MilumSenior VP, Controller & Principal Accounting Officer49
Ms. Stephanie WissinkSenior Vice President of Investor Relations-
Ms. Erin Nealy Cox J.D.Executive VP of Global Governance, Chief Legal Officer & Corporate Secretary55
Ms. Allyson ParkSenior VP & Chief Communications Officer-
Mr. Jason WootenHead of Corporate Development-

Prüfungsrisiko

5

Vorstandsrisiko

8

Vergütungsrisiko

7

Aktionärsrechterisiko

1

Teil 2 · Der Preis und der Einstiegszeitpunkt

Dieser Teil sagt nicht, ob das Unternehmen etwas taugt: Er hilft bei der Wahl des Kaufzeitpunkts, nachdem die Fundamentaldaten überzeugt haben. Enthalten: technische Analyse, Potenzial, historische Drawdowns, Gamma-Exposure.

Dokumente

  • Jahresbericht (10-K)

    Ein jährlicher Überblick über das Geschäft, die Finanzergebnisse und die Risiken des Unternehmens.

    Eingereicht am 2026-03-13

    Dokument ansehen
  • Quartalsbericht (10-Q)

    Ein Update zur finanziellen Entwicklung der letzten drei Monate.

    Eingereicht am 2026-08-28

    Dokument ansehen
  • Ad-hoc-Meldung (8-K)

    Eine Mitteilung über ein wichtiges Ereignis, etwa einen Führungswechsel oder eine bedeutende Ankündigung.

    Eingereicht am 2026-08-20

    Dokument ansehen

via SEC EDGAR

Ertragshistorie

via SEC EDGAR

Latest News

Recent headlines for WMT, sourced from Markets Gazette.

  • 5d agoNEUTRAL
    Walmart CEO says that the retail giant and its AI shopping assistant aren’t using personal information to set prices amid rollout of digital labels

    Walmart's CEO has stated that the company and its AI shopping assistant are not utilizing personal information to adjust pricing, particularly with the ongoing rollout of digital labels. The executive emphasized that factors like time of day or urgency of purchase will not influence the prices displayed for groceries or electronics. This clarification aims to address potential consumer concerns about algorithmic pricing and data privacy, assuring customers that dynamic pricing based on individual behavior is not being implemented. For investors, this stance reinforces Walmart's commitment to transparency and customer trust, potentially mitigating reputational risks.

  • 16d agoNEUTRAL
    Strong Retail Sales Hide Consumer Divide: Analyst Kodali

    Forrester analyst Sucharita Kodali highlights a significant divergence in US consumer spending. While higher-income consumers continue to spend robustly, rising costs, particularly for gasoline, are pressuring lower-income households. This economic split is expected to benefit discount retailers like Walmart, Costco, and Amazon, as they are better positioned to capture market share from struggling mid-tier retailers during the upcoming holiday season. Investors should monitor the performance of these large-cap retailers as indicators of consumer resilience and market consolidation.

  • 16d agoNEGATIVE
    Unloved Consumer Names Like Walmart Face Pressure as Rate Hike Draws Near

    Consumer-focused stocks, including retail giants like Walmart, have underperformed the broader market in 2026. This trend is exacerbated by the anticipation of a potential Federal Reserve interest rate hike this Wednesday. Higher rates typically increase borrowing costs for consumers and businesses, potentially dampening consumer spending and impacting the profitability of companies heavily reliant on it. Investors are advised to monitor consumer sentiment and retail sales data closely as these factors will be crucial in determining the near-term outlook for the sector.

  • 28d agoNEGATIVE
    DOJ expands beef price probe to eight retailers, including Walmart and Amazon, with inflation a key issue ahead of midterm elections

    The US Department of Justice has expanded its antitrust probe into beef prices to include eight major retailers, notably Walmart and Amazon. This investigation, which also targets meatpackers, comes amid concerns about rising inflation and its impact on consumer goods. The DOJ's focus on potential anti-competitive practices in the food supply chain could lead to increased scrutiny, compliance costs, and potential legal challenges for the involved retailers. Investors will monitor developments closely, as any findings of misconduct could negatively affect earnings and stock performance.

  • 8/22/2026NEGATIVE
    Cosa dicono i risultati di Walmart e Target sul consumatore statunitense?

    Walmart's stock experienced a significant decline of 9.2% following its latest earnings report, despite beating profit expectations. This drop signals growing consumer caution, attributed to elevated prices, high gasoline costs, and economic uncertainty. While customer traffic remains robust, the purchasing behavior indicates smaller, more deliberate transactions across major retailers like Walmart, Target, and Home Depot. This trend suggests a potential slowdown in consumer spending power, making investors wary of future revenue growth.

  • 8/21/2026NEGATIVE
    Walmart Shares Extend Decline After Rare US Sales Miss

    Walmart Inc. reported a rare miss on US comparable-store sales, with growth of 2.6% excluding fuel in the second quarter falling short of the lowest analyst estimates. This marks the slowest growth rate in over six years, primarily impacted by pricing pressures in its pharmacy segment. The company's shares experienced a significant decline, dropping as much as 10% intraday, wiping out its year-to-date gains. Investors are concerned about the retailer's deceleration, potentially reflecting broader economic slowdowns in the US.

  • 8/20/2026NEGATIVE
    Walmart Slides 9% as Sales Slow and Stocks Retreat | Closing Bell

    Walmart Inc. experienced a significant downturn, with its stock sliding 9% during the trading session. This decline was attributed to a noticeable slowdown in sales growth, which failed to meet market expectations. The broader market also saw a retreat, contributing to the negative sentiment surrounding the retail giant. Investors are closely watching these developments for signs of potential shifts in consumer spending patterns and the company's ability to maintain its market dominance amidst evolving economic conditions.

  • 8/20/2026POSITIVE
    Facing weary customers, Walmart will use its nearly $3 billion in tariff refunds to lower prices

    Walmart plans to leverage nearly $3 billion in tariff refunds to reduce prices for consumers, a strategic move following a nearly 9% stock decline attributed to a six-year low in U.S. sales growth. This initiative aims to regain customer loyalty and market share by offering more competitive pricing. While the company absorbed tariff costs last year, this refund allocation signals a renewed focus on value proposition. Investors will monitor the impact on sales volume and profit margins, as lower prices could boost demand but potentially compress short-term profitability.

via Markets Gazette