Question 1

What is Walmart's EV/EBITDA ratio?

Accepted Answer

Walmart (WMT) EV/EBITDA ratio is 22.9× as of June 5, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for Walmart?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For Walmart specifically, the relevant sector benchmark is the current sector median of 13.0×.

Question 5

Is Walmart's EV/EBITDA ratio high or low?

Accepted Answer

Walmart's EV/EBITDA ratio of 22.9× is above its own 5-year average of 16.7× and above the sector median of 13.0×. That places the current reading at the 97th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Walmart's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, Walmart (WMT) EV/EBITDA ratio has ranged from a low of 6.6× in 2015 to a high of 24.3× in 2026. The 5-year average is 16.7× and the 5-year median is 16.1×.

Question 7

What was Walmart's EV/EBITDA ratio in 2026?

Accepted Answer

Walmart (WMT) EV/EBITDA ratio at the end of 2026 was 21.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does Walmart's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2026	$949.66B	$46.47B	21.6×	+1.7×	Jan 31, 2026
2025	$788.13B	$42.01B	20.0×	+6.3×	Jan 31, 2025
2024	$444.50B	$36.38B	13.6×	-0.9×	Jan 31, 2024
2023	$387.90B	$30.09B	14.6×	+0.9×	Jan 31, 2023
2022	$387.11B	$31.35B	13.7×	+0.8×	Jan 31, 2022
2021	$393.55B	$34.03B	12.9×	+1.4×	Jan 31, 2021
2020	$324.67B	$33.70B	11.5×	-1.9×	Jan 31, 2020
2019	$277.49B	$24.48B	13.4×	+1.8×	Jan 31, 2019
2018	$315.40B	$30.61B	11.6×	+4.2×	Jan 31, 2018
2017	$204.59B	$32.84B	7.4×	-0.2×	Jan 31, 2017
2016	$215.06B	$33.56B	7.6×	-1.0×	Jan 31, 2016
2015	$274.52B	$36.43B	8.7×	+0.5×	Jan 31, 2015
2014	$241.93B	$35.86B	8.1×	+0.4×	Jan 31, 2014
2013	$233.67B	$36.45B	7.7×	+0.3×	Jan 31, 2013
2012	$210.19B	$34.85B	7.4×	+0.1×	Jan 31, 2012
2011	$198.99B	$33.38B	7.2×	-0.4×	Jan 31, 2011
2010	$203.53B	$31.18B	7.6×	+0.2×	Jan 31, 2010
2009	$184.94B	$29.82B	7.4×	-1.0×	Jan 31, 2009
2008	$200.74B	$28.60B	8.4×	-0.3×	Jan 31, 2008
2007	$196.62B	$26.23B	8.7×	-0.9×	Jan 31, 2007
2006	$192.14B	$23.54B	9.5×	-1.8×	Jan 31, 2006
2005	$221.59B	$21.70B	11.4×	-1.9×	Jan 31, 2005
2004	$231.23B	$19.02B	13.3×	-0.4×	Jan 31, 2004
2003	$209.61B	$16.94B	13.7×	-4.9×	Jan 31, 2003
2002	$266.99B	$15.38B	18.6×	—	Jan 31, 2002


Keurig Dr Pepper (KDP)	15.0×
Bunge Global S.A. (BG)	14.2×
Hormel Foods (HRL)	13.4×
Sysco (SYY)	13.4×
Archer-Daniels-Midland (ADM)	13.0×
Dollar General (DG)	13.0×
Performance Food Group (PFGC)	12.6×
Kimberly-Clark (KMB)	12.6×
Kenvue (KVUE)	12.5×
General Mills (GIS)	12.4×
Marzetti (MZTI)	12.2×
Clorox (CLX)	12.1×
Constellation Brands (STZ)	12.0×
Tyson Foods (TSN)	11.9×
Lamb Weston (LW)	11.7×
Brown-Forman (BF-B)	11.6×
Altria Group (MO)	11.2×
Dollar Tree (DLTR)	11.0×
Kroger (KR)	10.4×
Campbell Soup (CPB)	10.1×
Andersons (ANDE)	9.8×
Universal Corporation (UVV)	8.7×
Target (TGT)	7.4×
Coca-Cola Europacific Partners (CCEP)	7.1×
Albertsons Companies (ACI)	7.1×

EV/EBITDA for Walmart (WMT)

EV/EBITDA daily chart for Walmart (WMT)

Historical EV/EBITDA for Walmart (WMT) from 2002 to 2026

About EV/EBITDA at Walmart (WMT)

Walmart EV/EBITDA by Year

Walmart EV/EBITDA 2026: 21.6×

Walmart EV/EBITDA 2025: 20.0×

Walmart EV/EBITDA 2024: 13.6×

Walmart EV/EBITDA 2023: 14.6×

Walmart EV/EBITDA 2022: 13.7×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

Walmart (WMT) Key Financials

EV/EBITDA daily chart for Walmart (WMT)

Historical EV/EBITDA for Walmart (WMT) from 2002 to 2026

About EV/EBITDA at Walmart (WMT)

Walmart EV/EBITDA by Year

Walmart EV/EBITDA 2026: 21.6×

Walmart EV/EBITDA 2025: 20.0×

Walmart EV/EBITDA 2024: 13.6×

Walmart EV/EBITDA 2023: 14.6×

Walmart EV/EBITDA 2022: 13.7×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

+What is Walmart's EV/EBITDA ratio?

+How is the EV/EBITDA ratio calculated?

+What is the EV/EBITDA ratio?

+What is a good EV/EBITDA ratio for Walmart?

+Is Walmart's EV/EBITDA ratio high or low?

+What is Walmart's historical EV/EBITDA ratio range?

+What was Walmart's EV/EBITDA ratio in 2026?

+Why does Walmart's EV/EBITDA ratio change over time?

Walmart (WMT) Key Financials