WALMART INC.
WMT · scored from FY2026 filings · Narrow moat
On the watchlist
The four filters
Pricing power44
Median gross margin 24.3% over 10y, very stable.
Returns on capital75
Median ROIC 14.2%, above the 9% hurdle in 100% of years.
Balance-sheet safety72
Net debt/EBITDA 0.8x, interest coverage 13x.
Capital discipline57
Owner earnings +5.4%/yr, share count n/a.
Margin of safety
Above valueOn sale
- Owner earnings (normalized)
- $15.5B
- Est. intrinsic value / share
- —
- Recent price
- —
- Discount to value
- No price data
Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).
Moat Score history
Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.