Question 1

What is Walmart's P/FCF ratio?

Accepted Answer

Walmart (WMT) P/FCF ratio is 69.7× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. 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 P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Walmart?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Walmart specifically, the relevant sector benchmark is the current sector median of 16.5×.

Question 5

Is Walmart's P/FCF ratio high or low?

Accepted Answer

Walmart's P/FCF ratio of 69.7× is above its own 5-year average of 48.6× and above the sector median of 16.5×. That places the current reading at the 88th 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 P/FCF ratio range?

Accepted Answer

In the available daily series, Walmart (WMT) P/FCF ratio has ranged from a low of 9.7× in 2017 to a high of 134.4× in 2022. The 5-year average is 48.6× and the 5-year median is 42.4×.

Question 7

What was Walmart's P/FCF ratio in 2026?

Accepted Answer

Walmart (WMT) P/FCF ratio at the end of 2026 was 63.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Walmart's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). 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	$950B	$14.9B	63.6×	+1.4×	Jan 31, 2026
2025	$788B	$12.7B	62.3×	+32.9×	Jan 31, 2025
2024	$444B	$15.1B	29.4×	-3.0×	Jan 31, 2024
2023	$388B	$12B	32.4×	-2.6×	Jan 31, 2023
2022	$387B	$11.1B	35.0×	+19.7×	Jan 31, 2022
2021	$394B	$25.8B	15.2×	-7.1×	Jan 31, 2021
2020	$325B	$14.6B	22.3×	+6.4×	Jan 31, 2020
2019	$277B	$17.4B	15.9×	-1.3×	Jan 31, 2019
2018	$315B	$18.3B	17.2×	+7.5×	Jan 31, 2018
2017	$205B	$21B	9.7×	-3.8×	Jan 31, 2017
2016	$215B	$15.9B	13.5×	-3.2×	Jan 31, 2016
2015	$275B	$16.4B	16.7×	-7.1×	Jan 31, 2015
2014	$242B	$10.1B	23.9×	+5.4×	Jan 31, 2014
2013	$234B	$12.7B	18.4×	-1.2×	Jan 31, 2013
2012	$210B	$10.7B	19.6×	+1.4×	Jan 31, 2012
2011	$199B	$10.9B	18.2×	+3.7×	Jan 31, 2011
2010	$204B	$14.1B	14.5×	-1.4×	Jan 31, 2010
2009	$185B	$11.6B	15.9×	-21.2×	Jan 31, 2009
2008	$201B	$5.42B	37.1×	-6.7×	Jan 31, 2008
2007	$197B	$4.5B	43.7×	-18.9×	Jan 31, 2007
2006	$192B	$3.07B	62.6×	-40.4×	Jan 31, 2006
2005	$222B	$2.15B	103.0×	+62.4×	Jan 31, 2005
2004	$231B	$5.69B	40.7×	-25.3×	Jan 31, 2004
2003	$210B	$3.18B	66.0×	—	Jan 31, 2003


Tyson Foods (TSN)	18.4×
Colgate-Palmolive (CL)	18.2×
Kenvue (KVUE)	18.1×
Hormel Foods (HRL)	17.1×
Universal Corporation (UVV)	16.5×
Marzetti (MZTI)	15.3×
Kroger (KR)	14.3×
Brown-Forman (BF-B)	13.2×
Performance Food Group (PFGC)	12.9×
Altria Group (MO)	12.8×
Constellation Brands (STZ)	12.8×
Kimberly-Clark (KMB)	12.4×
Dollar Tree (DLTR)	12.0×
General Mills (GIS)	11.1×
McCormick & Company (MKC)	10.8×
Lamb Weston (LW)	10.3×
J. M. Smucker (SJM)	9.0×
Dollar General (DG)	8.7×
Coca-Cola Europacific Partners (CCEP)	8.3×
Archer-Daniels-Midland (ADM)	7.3×
Molson Coors Beverage (TAP)	7.0×
Campbell Soup (CPB)	6.8×
Kraft Heinz (KHC)	6.6×
Conagra Brands (CAG)	6.4×
Albertsons Companies (ACI)	4.4×

P/FCF Ratio for Walmart (WMT) 2003-2026

P/FCF Ratio daily chart for Walmart (WMT)

Historical P/FCF Ratio for Walmart (WMT) from 2003 to 2026

About P/FCF Ratio at Walmart (WMT)

Walmart P/FCF Ratio by Year

Walmart P/FCF Ratio 2026: 63.6×

Walmart P/FCF Ratio 2025: 62.3×

Walmart P/FCF Ratio 2024: 29.4×

Walmart P/FCF Ratio 2023: 32.4×

Walmart P/FCF Ratio 2022: 35.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Walmart (WMT) Key Financials