WalmartWMT

WalmartWMT

Revenue: is the business selling more than it used to?

$706.4B+5% YoYFY 2025

→Revenue reached $706.4B in 2025, compounding +5% a year since 2022 and the pace is picking up. The trailing twelve months are already running at $728.5B, ahead of the last full year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

Net income: how much of that revenue becomes profit?

$21.9B+13% YoYFY 2025

→Net income was $21.9B in 2025, compounding +23% a year over three years.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

How fast is it growing, year by year?

+4.7%revenue growth, FY 2025

→Revenue grew +5% in 2025 against a five-year average of +5%. Earnings grew faster (+13%), so each new dollar of sales is arriving more profitably.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

Revenue per share: is your slice growing as fast as the company?

$88.06revenue per share, FY 2025

→Revenue per share reached $88.06 in 2025, compounding +6% a year - in line with WMT's own +5%, so the share count is not distorting your slice. Free cash flow per share stands at $1.86.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

Free cash flow: what is left in real cash after everything?

$14.9B+18% YoYFY 2025

→Free cash flow was $14.9B in 2025, compounding +8% a year since 2022. The trailing twelve months stand at $13.5B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

How much of every sales dollar ends up as free cash?

→2 cents of every sales dollar became free cash in 2025, and it has held steady since 2022.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

What does staying competitive cost, per dollar of sales?

→The biggest claim on each sales dollar is capital spending, at 4% of revenue (stock compensation 1%). That share has risen since 2022, so the cost of competing is climbing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

When sales grow, do profits grow faster?

→Operating profit outgrew revenue in 3 of the last 5 years, most recently +2% against +5%. Each additional dollar of sales is landing more profitably than the last - the definition of operating leverage.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

Margins: of every $1 of sales, how much survives each cost layer?

→Operating margin has held near 4% since 2022. After everything, 3 cents of each sales dollar reaches net profit. WMT doesn't tag a gross-profit line in its filings, so the chart starts at operating margin.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

What does it earn on the money it uses?

→ROE of 22% and ROCE of 17% sit close together, so the returns come from the business itself rather than from borrowing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

What has the market paid for WMT over time?

38.9xP/E today

→At 38.9x earnings, the market is paying +50% more than WMT's own 11-year median of 26.0x. Expectations are elevated, so more has to go right to justify the price. Today's multiple is the highest in the charted history.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

What cash return does the business throw off per dollar of market value?

1.6%FCF yield today

→Every dollar of market value currently buys 1.6% of annual free cash flow, less than its 11-year median of 5.1% - you are paying up for the same cash.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

Could it handle its debt if things went wrong?

→Debt of $39.9B sits against $11.5B of cash, or 0.4x shareholders' equity. Earnings cover the interest bill 17 times over, so the debt is comfortably serviced.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

Is the company's own capital growing?

→The company's own capital grew from $83.9B in 2023 to $98.2B (+17%). The business is building book value rather than consuming it.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

How much goes back, and how much leaks out as stock comp?

→Shareholders received $8.1B in buybacks and $7.5B in dividends in 2025. Stock compensation issued $3.6B of new shares in the same year, offsetting 23% of that.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

How fast is your ownership being diluted - or concentrated?

→The share count shrank 0.7% in 2025, averaging 0.7% a year over three years. Buybacks are concentrating your ownership: the same business, split fewer ways.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

Is the dividend cheque growing?

→The dividend per share reached $0.94 in 2025, compounding +5% a year since 2020.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

Can it afford the dividend?

→The dividend consumed 34% of profit and 50% of free cash flow in 2025. That leaves room to keep paying through a weak year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

Does WMT earn more on its capital than that capital costs?

→WMT earns 16.8% on the capital it employs, comfortably above the 10% most investors treat as the cost of capital. It was 13.5% in 2022, so the trend is up, and the pace is picking up.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

WMT has issued or retired shares - did shareholders end up better off?

→WMT has shrunk its share count -23% from 2011 to 2025, so each remaining share owns more of the business. Revenue per share is +106% over the same years.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31

WalmartWMT

Are the people running it buying or selling?

→Insiders sold $746M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 32 filings were grants, option exercises or tax withholding, which say nothing either way.

Source: SEC EDGAR (XBRL company facts) · as at 2026-07-31