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Walmart WMT Return on invested capital

Return on invested capital at other companies

Target logo
TargetTGT
11.9%-6.4pp
Dollar General logo
Dollar GeneralDG
7.4%+1.7pp
Kroger logo
KrogerKR
12.2%-6.8pp
Lowe's Companies logo
Lowe's CompaniesLOW
30.9%-8.6pp
CVS Health logo
CVS HealthCVS
7.1%-1.2pp
Tyson Foods logo
Tyson FoodsTSN
2.8%-1.4pp

Other financials

Income statement

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Revenue$177.75B+7.3%
Gross profit$44.7B+8.2%
Operating income$7.5B+5.0%
Net income$5.3B+18.8%
EPS (diluted)$0.67+19.6%

Balance sheet

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Cash & equivalents$11.3B+14.0%
Total debt$74.2B+10.4%
Total equity$94.3B+12.6%
Total assets$289.61B+10.4%

Cash flow

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Operating cash flow$4.7B-12.4%
CapEx$6.7B+34.1%
Free cash flow-$1.9B-558%

Valuation

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Market cap$940.09B+37.1%
Enterprise value$1T+35.2%
P/E41.4×+4.9×
P/S1.3×+0.3×

Profitability

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Gross margin25%+0.1pp
Operating margin4.2%-0.2pp
Net margin3.1%+0.4pp

Returns & leverage

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Return on equity25.5%+2.7pp
Debt / equity0.8×0.0×
Current ratio0.8×0.0×

Where this comes from

Calculated from Walmart ’s reported figures.

Based on trailing twelve months.

The official record: Walmart ’s 10-Q, filed May 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Walmart 's return on invested capital?
Walmart (WMT) reported return on invested capital of 15.3% in Q1 2026.
How has Walmart 's return on invested capital changed year-over-year?
Walmart 's return on invested capital decreased by 7.3% year-over-year, from 16.5% to 15.3%.
What is the long-term trend for Walmart 's return on invested capital?
Over 4 years (2022 to 2026), Walmart 's return on invested capital has grown at a 3.6% compound annual growth rate (CAGR), from 54.4% to 62.7%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.