# Walmart Inc. (WMT)

> Walmart sells groceries and general merchandise through stores, websites, apps, and warehouse clubs, and earns fees from memberships and business services.

- Exchange: Nasdaq Global Select Market · Sector: Consumer Staples · Industry: Discount Stores
- Headquarters: Bentonville, Arkansas
- Founded: 1945
- Employees: Approximately 2.1 million
- SEC CIK: 0000104169 ([filings on EDGAR](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000104169))
- Full page: https://inspectstocks.com/stocks/wmt
- Data as of: price 2026-09-28; newest filing used 2026-08-28; latest fiscal period ended 2026-07-31

## Grade

**C** on the growth-and-cash rubric, 3 of 5 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Revenue growing overall | passed | $735.8B | $630.8B |
| Revenue growing recently | passed | $735.8B | $713.2B |
| Free cash flow positive | passed | $13.5B |  |
| Free cash flow growing overall | failed | $13.5B | $19.2B |
| Free cash flow growing recently | failed | $13.5B | $14.9B |

Business quality (the + / − mark): 3 of 6 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Profitable | passed | 3.0% |  |
| Healthy profit margin | failed | 3.0% |  |
| Strong operating margin | failed | 4.4% |  |
| Good return on equity | passed | 22.2% |  |
| Debt under control | passed | 0.67 |  |
| Turns sales into cash | failed | 1.8% |  |

How the grade works: the letter counts failed checks (none → A, one → B, two → C, three → D, four or more → F). It is built from SEC filings only — the share price never enters it — and describes the business, not whether the stock is worth buying.

## Key figures

In US dollars, as filed.

| Measure | Value |
| --- | --- |
| Revenue, trailing twelve months | $735.8B |
| Net income, trailing twelve months | $22.1B |
| Free cash flow, trailing twelve months | $13.5B |
| Net margin | 3.0% |
| Operating margin | 4.4% |
| Return on equity | 22.2% |
| Debt to equity | 0.67 |
| Diluted EPS, trailing twelve months | $2.77 |
| Share price | $108.74 |
| Market value | $862.7B |
| Price / earnings | 39.3x |
| Price / sales | 1.2x |

## What the business does

Walmart sells groceries, clothing, household goods, medicines, and other products in the United States and international markets. Customers can shop in stores, on websites, and through mobile apps, with pickup and delivery available in many locations. The company also runs membership clubs and earns money from services such as advertising, online marketplaces, and order fulfillment for sellers.

### How it makes money

- **Walmart U.S.** (68.1%) — Customers pay for merchandise in Walmart stores and online. The segment also earns income from services including Walmart+ memberships, advertising, and seller services.
- **Walmart International** (18.5%) — Customers and members pay for merchandise through retail and wholesale stores, websites, and mobile apps in markets outside the United States.
- **Sam's Club U.S.** (13.4%) — Members pay for merchandise at warehouse clubs and online, and pay annual membership fees for access and added benefits.

### Products

- **Walmart U.S. stores and online shopping** — Stores, Walmart.com, and the Walmart app sell groceries, general merchandise, and health and wellness products, with pickup and delivery options.
- **Walmart International** — Retail and wholesale stores, websites, and apps sell merchandise in markets outside the United States. The businesses include Flipkart and PhonePe in India.
- **Sam's Club** — Membership-only warehouse clubs and online shopping sell groceries, general merchandise, health products, and fuel.
- **Walmart+** — A paid membership gives Walmart customers benefits such as eligible-item shipping, store delivery, and fuel discounts.
- **Sam's Club memberships** — Paid annual memberships give members access to shop at Sam's Club, with additional shopping and delivery benefits at the Plus tier.
- **Advertising, marketplace, and fulfillment services** — Walmart sells advertising to brands and online sellers, lets outside sellers list products on its websites, and provides services to store or ship some sellers' orders.

### Customers

- Individual shoppers and households buying groceries, clothing, household goods, medicines, and other products in stores or online.
- Walmart+ members paying for a membership and using shopping, shipping, delivery, or fuel benefits.
- Sam's Club members paying for access to the clubs and buying merchandise in clubs or online.
- Brands and suppliers paying for advertising or buying data and business services.
- Third-party sellers paying for marketplace access or using Walmart's order storage, shipping, and fulfillment services.

### Competitors

- Amazon.com, Inc. (AMZN) — Online retail, groceries, delivery, advertising, and services for third-party sellers.
- Costco Wholesale Corporation (COST) — Membership warehouse clubs, groceries, general merchandise, and online shopping.
- Target Corporation (TGT) — Stores and online sales of groceries, household goods, clothing, and other general merchandise.
- The Kroger Co. (KR) — Grocery stores, pharmacy services, and online grocery shopping and delivery.

### What it depends on

- Walmart depends on a large network of suppliers to provide the products it sells and on transportation and distribution facilities to move those products to stores, clubs, and customers.
- Store, online-order, payment, inventory, and delivery operations rely on information technology systems; outages or security failures could disrupt shopping and fulfillment.
- The company depends on its associates and, for some delivery and other services, independent contractors and outside service providers.
- International operations depend in part on local laws and business conditions, and reported results can change with currency exchange rates.

### What could go wrong

- If Walmart does not make its stores, websites, apps, inventory, and delivery work together as planned, or if technology systems fail or are attacked, customers may face disrupted shopping and orders, affecting sales and operations.
- Changes in what customers want, or competition on price, product selection, shopping convenience, and delivery, could reduce demand for Walmart's merchandise and services.
- Supplier problems, trade restrictions and tariffs, or disruptions from geopolitical events and other supply-chain shocks could make it harder or more costly to obtain and distribute merchandise.

## More on this company

- [Overview](https://inspectstocks.com/stocks/wmt)
- [Financial statements](https://inspectstocks.com/stocks/wmt/financials)
- [Competitors](https://inspectstocks.com/stocks/wmt/peers)
- [Earnings](https://inspectstocks.com/stocks/wmt/earnings)

---

Source: InspectStocks, built from the company’s own SEC filings. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.