Walmart Inc.
WMTNASDAQ
$122.27
Last price · USD
- Market cap
- $980.8B
- P/E
- 44.8x
- EV / EBITDA
- 22.3x
- P/S
- 1.4x
- FCF yield
- 1.5%
- Div. yield
- 0.77%
Multiples use last price and FY2026 annual figures. Market cap estimated from diluted shares.
Walmart Inc. cash flow statement
Annual · USD millions except per-share data · 34 lines
| Fiscal year | 2026 | 2025 | 2024 | 2023 | 2022 | CAGR | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | 22,270 | 20,157 | 16,270 | 11,292 | 13,940 | +12.4% | |
| Depreciation & amortization | 14,203 | 12,973 | 11,853 | 10,945 | 10,658 | +7.4% | |
| Deferred income tax | 2,277 | (635) | (175) | 449 | (755) | — | |
| Change in working capital | 752 | 181 | 1,943 | 2,553 | (6,597) | — | |
| Accounts receivables | (1,136) | (1,106) | (797) | 240 | (1,796) | — | |
| Inventory | (1,443) | (2,755) | 2,017 | (528) | (11,764) | — | |
| Accounts payables | 1,611 | 3,228 | 2,515 | (1,425) | 5,520 | -26.5% | |
| Other working capital | 1,720 | 814 | (1,792) | 4,266 | 1,443 | +4.5% | |
| Other non-cash items | 2,063 | 3,767 | 5,835 | 3,602 | 6,935 | -26.1% | |
| Net cash from operating activities | 41,565 | 36,443 | 35,726 | 28,841 | 24,181 | +14.5% | |
| Operating cash flow | 41,565 | 36,443 | 35,726 | 28,841 | 24,181 | +14.5% | |
| Investing activities | |||||||
| Investments in PP&E | (26,642) | (23,783) | (20,606) | (16,857) | (13,106) | — | |
| Capital expenditure | (26,642) | (23,783) | (20,606) | (16,857) | (13,106) | — | |
| Acquisitions, net | (53) | (1,896) | 126 | (740) | 7,576 | — | |
| Sales / maturities of investments | 927 | 4,080 | 0 | 0 | 0 | — | |
| Other investing activities | (582) | 220 | (807) | (125) | (485) | — | |
| Net cash from investing activities | (26,350) | (21,379) | (21,287) | (17,722) | (6,015) | — | |
| Financing activities | |||||||
| Net debt issuance | 4,881 | (1,256) | 1,262 | 2,318 | (5,872) | — | |
| Short-term net debt issuance | 3,523 | 2,212 | 512 | (34) | 193 | +106.7% | |
| Long-term net debt issuance | 1,358 | (3,468) | 750 | 2,352 | (6,065) | — | |
| Net stock issuance | (8,088) | (4,494) | (2,779) | (9,920) | (9,787) | — | |
| Common stock repurchased | (8,088) | (4,494) | (2,779) | (9,920) | (9,787) | — | |
| Net common stock issuance | (8,088) | (4,494) | (2,779) | (9,920) | (9,787) | — | |
| Common dividends paid | (7,507) | (6,688) | (6,140) | (6,114) | (6,152) | — | |
| Net dividends paid | (7,507) | (6,688) | (6,140) | (6,114) | (6,152) | — | |
| Other financing activities | (2,839) | (2,384) | (5,757) | (3,323) | (1,017) | — | |
| Net cash from financing activities | (13,553) | (14,822) | (13,414) | (17,039) | (22,828) | — | |
| Cash summary | |||||||
| Effect of forex changes on cash | 123 | (641) | 69 | (73) | 1,681 | -48.0% | |
| Net change in cash | 1,785 | (399) | 1,094 | (5,993) | (2,981) | — | |
| Cash at beginning of period | 9,536 | 9,935 | 8,841 | 14,834 | 17,788 | -14.4% | |
| Cash at end of period | 11,321 | 9,536 | 9,935 | 8,841 | 14,834 | -6.5% | |
| Free cash flow | 14,923 | 12,660 | 15,120 | 11,984 | 11,075 | +7.7% | |
| Income taxes paid | 0 | 5,884 | 5,879 | 5,879 | 3,310 | — | |
| Interest paid | 0 | 2,739 | 2,739 | 2,519 | 2,051 | — | |