Stock Analysis on Net

Walmart Inc. (NYSE:WMT)

$24.99

Analysis of Reportable Segments

Microsoft Excel

Paying user area


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Segment Profit Margin

Walmart Inc., profit margin by reportable segment

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Walmart U.S.
Walmart International
Sam’s Club U.S.

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

Segment profitability ratio Reportable segment The company
Segment profit margin Walmart U.S. Walmart U.S. segment profit margin ratio improved from 2023 to 2024 and from 2024 to 2025.
Walmart International Walmart International segment profit margin ratio improved from 2023 to 2024 and from 2024 to 2025.
Sam’s Club U.S. Sam’s Club U.S. segment profit margin ratio improved from 2023 to 2024 and from 2024 to 2025.

Segment Profit Margin: Walmart U.S.

Walmart Inc.; Walmart U.S.; segment profit margin calculation

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Selected Financial Data (US$ in millions)
Operating income (loss)
Net sales
Segment Profitability Ratio
Segment profit margin1

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

1 2025 Calculation
Segment profit margin = 100 × Operating income (loss) ÷ Net sales
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin Walmart U.S. Walmart U.S. segment profit margin ratio improved from 2023 to 2024 and from 2024 to 2025.

Segment Profit Margin: Walmart International

Walmart Inc.; Walmart International; segment profit margin calculation

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Selected Financial Data (US$ in millions)
Operating income (loss)
Net sales
Segment Profitability Ratio
Segment profit margin1

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

1 2025 Calculation
Segment profit margin = 100 × Operating income (loss) ÷ Net sales
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin Walmart International Walmart International segment profit margin ratio improved from 2023 to 2024 and from 2024 to 2025.

Segment Profit Margin: Sam’s Club U.S.

Walmart Inc.; Sam’s Club U.S.; segment profit margin calculation

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Selected Financial Data (US$ in millions)
Operating income (loss)
Net sales
Segment Profitability Ratio
Segment profit margin1

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

1 2025 Calculation
Segment profit margin = 100 × Operating income (loss) ÷ Net sales
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment profit margin Sam’s Club U.S. Sam’s Club U.S. segment profit margin ratio improved from 2023 to 2024 and from 2024 to 2025.

Segment Return on Assets (Segment ROA)

Walmart Inc., ROA by reportable segment

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Walmart U.S.
Walmart International
Sam’s Club U.S.

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

Segment profitability ratio Reportable segment The company
Segment ROA Walmart U.S. Walmart U.S. segment ROA improved from 2023 to 2024 but then slightly deteriorated from 2024 to 2025 not reaching 2023 level.
Walmart International Walmart International segment ROA improved from 2023 to 2024 and from 2024 to 2025.
Sam’s Club U.S. Sam’s Club U.S. segment ROA improved from 2023 to 2024 and from 2024 to 2025.

Segment ROA: Walmart U.S.

Walmart Inc.; Walmart U.S.; segment ROA calculation

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Selected Financial Data (US$ in millions)
Operating income (loss)
Total assets
Segment Profitability Ratio
Segment ROA1

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

1 2025 Calculation
Segment ROA = 100 × Operating income (loss) ÷ Total assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA Walmart U.S. Walmart U.S. segment ROA improved from 2023 to 2024 but then slightly deteriorated from 2024 to 2025 not reaching 2023 level.

Segment ROA: Walmart International

Walmart Inc.; Walmart International; segment ROA calculation

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Selected Financial Data (US$ in millions)
Operating income (loss)
Total assets
Segment Profitability Ratio
Segment ROA1

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

1 2025 Calculation
Segment ROA = 100 × Operating income (loss) ÷ Total assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA Walmart International Walmart International segment ROA improved from 2023 to 2024 and from 2024 to 2025.

Segment ROA: Sam’s Club U.S.

Walmart Inc.; Sam’s Club U.S.; segment ROA calculation

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Selected Financial Data (US$ in millions)
Operating income (loss)
Total assets
Segment Profitability Ratio
Segment ROA1

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

1 2025 Calculation
Segment ROA = 100 × Operating income (loss) ÷ Total assets
= 100 × ÷ =

Segment profitability ratio Reportable segment The company
Segment ROA Sam’s Club U.S. Sam’s Club U.S. segment ROA improved from 2023 to 2024 and from 2024 to 2025.

Segment Asset Turnover

Walmart Inc., asset turnover by reportable segment

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Walmart U.S.
Walmart International
Sam’s Club U.S.

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

Segment activity ratio Reportable segment The company
Segment asset turnover Walmart U.S. Walmart U.S. segment asset turnover ratio deteriorated from 2023 to 2024 and from 2024 to 2025.
Walmart International Walmart International segment asset turnover ratio improved from 2023 to 2024 and from 2024 to 2025.
Sam’s Club U.S. Sam’s Club U.S. segment asset turnover ratio improved from 2023 to 2024 but then deteriorated significantly from 2024 to 2025.

Segment Asset Turnover: Walmart U.S.

Walmart Inc.; Walmart U.S.; segment asset turnover calculation

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Selected Financial Data (US$ in millions)
Net sales
Total assets
Segment Activity Ratio
Segment asset turnover1

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

1 2025 Calculation
Segment asset turnover = Net sales ÷ Total assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover Walmart U.S. Walmart U.S. segment asset turnover ratio deteriorated from 2023 to 2024 and from 2024 to 2025.

Segment Asset Turnover: Walmart International

Walmart Inc.; Walmart International; segment asset turnover calculation

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Selected Financial Data (US$ in millions)
Net sales
Total assets
Segment Activity Ratio
Segment asset turnover1

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

1 2025 Calculation
Segment asset turnover = Net sales ÷ Total assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover Walmart International Walmart International segment asset turnover ratio improved from 2023 to 2024 and from 2024 to 2025.

Segment Asset Turnover: Sam’s Club U.S.

Walmart Inc.; Sam’s Club U.S.; segment asset turnover calculation

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Selected Financial Data (US$ in millions)
Net sales
Total assets
Segment Activity Ratio
Segment asset turnover1

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

1 2025 Calculation
Segment asset turnover = Net sales ÷ Total assets
= ÷ =

Segment activity ratio Reportable segment The company
Segment asset turnover Sam’s Club U.S. Sam’s Club U.S. segment asset turnover ratio improved from 2023 to 2024 but then deteriorated significantly from 2024 to 2025.

Segment Capital Expenditures to Depreciation

Walmart Inc., capital expenditures to depreciation by reportable segment

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Walmart U.S.
Walmart International
Sam’s Club U.S.

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Walmart U.S. Walmart U.S. segment capital expenditures to depreciation ratio improved from 2023 to 2024 and from 2024 to 2025.
Walmart International Walmart International segment capital expenditures to depreciation ratio improved from 2023 to 2024 and from 2024 to 2025.
Sam’s Club U.S. Sam’s Club U.S. segment capital expenditures to depreciation ratio improved from 2023 to 2024 and from 2024 to 2025.

Segment Capital Expenditures to Depreciation: Walmart U.S.

Walmart Inc.; Walmart U.S.; segment capital expenditures to depreciation calculation

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Selected Financial Data (US$ in millions)
Capital expenditures
Depreciation and amortization
Segment Financial Ratio
Segment capital expenditures to depreciation1

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

1 2025 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= ÷ =

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Walmart U.S. Walmart U.S. segment capital expenditures to depreciation ratio improved from 2023 to 2024 and from 2024 to 2025.

Segment Capital Expenditures to Depreciation: Walmart International

Walmart Inc.; Walmart International; segment capital expenditures to depreciation calculation

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Selected Financial Data (US$ in millions)
Capital expenditures
Depreciation and amortization
Segment Financial Ratio
Segment capital expenditures to depreciation1

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

1 2025 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= ÷ =

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Walmart International Walmart International segment capital expenditures to depreciation ratio improved from 2023 to 2024 and from 2024 to 2025.

Segment Capital Expenditures to Depreciation: Sam’s Club U.S.

Walmart Inc.; Sam’s Club U.S.; segment capital expenditures to depreciation calculation

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Selected Financial Data (US$ in millions)
Capital expenditures
Depreciation and amortization
Segment Financial Ratio
Segment capital expenditures to depreciation1

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

1 2025 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= ÷ =

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Sam’s Club U.S. Sam’s Club U.S. segment capital expenditures to depreciation ratio improved from 2023 to 2024 and from 2024 to 2025.

Net sales

Walmart Inc., net sales by reportable segment

US$ in millions

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Walmart U.S.
Walmart International
Sam’s Club U.S.
Consolidated

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).


Operating income (loss)

Walmart Inc., operating income (loss) by reportable segment

US$ in millions

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Walmart U.S.
Walmart International
Sam’s Club U.S.
Corporate and support
Consolidated

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).


Total assets

Walmart Inc., total assets by reportable segment

US$ in millions

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Walmart U.S.
Walmart International
Sam’s Club U.S.
Corporate and support
Consolidated

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).


Depreciation and amortization

Walmart Inc., depreciation and amortization by reportable segment

US$ in millions

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Walmart U.S.
Walmart International
Sam’s Club U.S.
Corporate and support
Consolidated

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).


Capital expenditures

Walmart Inc., capital expenditures by reportable segment

US$ in millions

Microsoft Excel
Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020
Walmart U.S.
Walmart International
Sam’s Club U.S.
Corporate and support
Consolidated

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).