Walmart Inc. (WMT)

Retail-Variety Stores

Latest Price

$103.92

TTM P/E

38.70

Normalized P/E

35.20

Div Yield

Book Value

12.38

P/B Ratio

8.39

Valuation metrics

EPS: $2.73

Book value / share: $12.42

Formula: √(22.5 × EPS × BVPS)

Graham Number

$27.62

73% 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

81% 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

57% downside

EPS: $2.73

Target P/E: 35×

Formula: EPS × P/E

P/E Fair Value

$95.55

8% downside

37.6% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	354.92M	$40.20B	4.46%	+1.15M	2026-06-30
Vanguard Capital Management LLC	286.35M	$32.43B	3.60%	+1.50M	2026-06-30
State Street Corp	188.04M	$21.30B	2.36%	+2.11M	2026-06-30
Invesco Ltd.	148.46M	$16.81B	1.87%	+104.93M	2026-06-30
Geode Capital Management, LLC	106.45M	$12.00B	1.34%	+593.6K	2026-06-30
JPMorgan Chase & Co	96.31M	$11.04B	1.21%	-19.12M	2026-06-30
Vanguard Portfolio Management LLC	94.77M	$10.73B	1.19%	+1.07M	2026-06-30
Morgan Stanley	88.32M	$10.00B	1.11%	+2.41M	2026-06-30
Bank of America Corp	65.82M	$7.46B	0.83%	-21.1K	2026-06-30
Norges Bank	57.42M	$6.50B	0.72%	-546.9K	2026-06-30