Question 1

What is Walmart's P/B ratio?

Accepted Answer

Walmart (WMT) P/B ratio is 9.3× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. 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/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Walmart?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Walmart specifically, the relevant sector benchmark is the current sector median of 3.4×.

Question 5

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

Accepted Answer

Walmart's P/B ratio of 9.3× is above its own 5-year average of 6.6× and above the sector median of 3.4×. That places the current reading at the 82th 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/B ratio range?

Accepted Answer

In the available daily series, Walmart (WMT) P/B ratio has ranged from a low of 2.3× in 2015 to a high of 11.2× in 2026. The 5-year average is 6.6× and the 5-year median is 5.6×.

Question 7

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

Accepted Answer

Walmart (WMT) P/B ratio at the end of 2026 was 9.5×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). 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	$99.6B	9.5×	+0.9×	Jan 31, 2026
2025	$788B	$91B	8.7×	+3.4×	Jan 31, 2025
2024	$444B	$83.9B	5.3×	+0.2×	Jan 31, 2024
2023	$388B	$76.7B	5.1×	+0.4×	Jan 31, 2023
2022	$387B	$83.3B	4.6×	-0.2×	Jan 31, 2022
2021	$394B	$80.9B	4.9×	+0.5×	Jan 31, 2021
2020	$325B	$74.7B	4.3×	+0.5×	Jan 31, 2020
2019	$277B	$72.5B	3.8×	-0.2×	Jan 31, 2019
2018	$315B	$77.9B	4.1×	+1.4×	Jan 31, 2018
2017	$205B	$77.8B	2.6×	-0.0×	Jan 31, 2017
2016	$215B	$80.5B	2.7×	-0.7×	Jan 31, 2016
2015	$275B	$81.4B	3.4×	+0.2×	Jan 31, 2015
2014	$242B	$76.3B	3.2×	+0.1×	Jan 31, 2014
2013	$234B	$76.3B	3.1×	+0.1×	Jan 31, 2013
2012	$210B	$71.3B	2.9×	+0.0×	Jan 31, 2012
2011	$199B	$68.5B	2.9×	+0.0×	Jan 31, 2011
2010	$204B	$70.5B	2.9×	+0.1×	Jan 31, 2010
2009	$185B	$65.3B	2.8×	-0.3×	Jan 31, 2009
2008	$201B	$64.6B	3.1×	-0.1×	Jan 31, 2008
2007	$197B	$61.6B	3.2×	-0.4×	Jan 31, 2007
2006	$192B	$53.2B	3.6×	-0.9×	Jan 31, 2006
2005	$222B	$49.4B	4.5×	-0.8×	Jan 31, 2005
2004	$231B	$43.6B	5.3×	-0.0×	Jan 31, 2004
2003	$210B	$39.5B	5.3×	—	Jan 31, 2003


Albertsons Companies (ACI)	5.0×
Coca-Cola Europacific Partners (CCEP)	4.4×
Marzetti (MZTI)	3.6×
Lamb Weston (LW)	3.6×
Target (TGT)	3.6×
Tootsie Roll Industries (TR)	3.4×
Kenvue (KVUE)	3.1×
Brown-Forman (BF-B)	2.9×
Mondelez International (MDLZ)	2.9×
Dollar General (DG)	2.9×
Constellation Brands (STZ)	2.8×
Performance Food Group (PFGC)	2.7×
General Mills (GIS)	2.5×
J. M. Smucker (SJM)	1.9×
McCormick & Company (MKC)	1.8×
Archer-Daniels-Midland (ADM)	1.5×
Bunge Global S.A. (BG)	1.5×
Campbell Soup (CPB)	1.5×
Hormel Foods (HRL)	1.5×
Keurig Dr Pepper (KDP)	1.4×
Tyson Foods (TSN)	1.2×
Conagra Brands (CAG)	1.0×
Universal Corporation (UVV)	0.9×
Molson Coors Beverage (TAP)	0.8×
Kraft Heinz (KHC)	0.6×

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

P/B Ratio daily chart for Walmart (WMT)

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

About P/B Ratio at Walmart (WMT)

Walmart P/B Ratio by Year

Walmart P/B Ratio 2026: 9.5×

Walmart P/B Ratio 2025: 8.7×

Walmart P/B Ratio 2024: 5.3×

Walmart P/B Ratio 2023: 5.1×

Walmart P/B Ratio 2022: 4.6×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Walmart (WMT) Key Financials