Walmart Inc. (WMT)

Retail-Variety Stores

Latest Price

$111.20

TTM P/E

39.15

Normalized P/E

36.76

Div Yield

Book Value

11.84

P/B Ratio

9.39

Valuation metrics

EPS: $2.73

Book value / share: $12.42

Formula: √(22.5 × EPS × BVPS)

Graham Number

$27.62

75% downside

Norm. op. income: $25.9B (median of 7yr)

Tax rate: 25%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$19.87

82% downside

Base FCF: $12.7B (median of recent 5yr)

Growth: 13%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$44.65

60% downside

EPS: $2.73

Target P/E: 37×

Formula: EPS × P/E

P/E Fair Value

$101.01

9% downside

33.1% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	353.77M	$43.97B	4.44%	+3.65M	2026-03-31
VANGUARD CAPITAL MANAGEMENT LLC	284.85M	$35.40B	3.57%	--	2026-03-31
STATE STREET CORP	185.93M	$23.15B	2.33%	+1.23M	2026-03-31
GEODE CAPITAL MANAGEMENT, LLC	105.86M	$13.10B	1.33%	+2.85M	2026-03-31
VANGUARD PORTFOLIO MANAGEMENT LLC	93.70M	$11.64B	1.18%	--	2026-03-31
MORGAN STANLEY	85.91M	$10.68B	1.08%	+1.63M	2026-03-31
BANK OF AMERICA CORP /DE/	65.84M	$8.18B	0.83%	-3.36M	2026-03-31
Invesco Ltd.	43.53M	$5.41B	0.55%	+18.51M	2026-03-31
GOLDMAN SACHS GROUP INC	42.21M	$5.25B	0.53%	+5.14M	2026-03-31
NORTHERN TRUST CORP	41.77M	$5.19B	0.52%	+39.1K	2026-03-31