Walmart Inc., current enterprise value calculation

Current share price (P)	$85.15
No. shares of common stock outstanding	8,016,849,444
US$ in millions
Common equity (market value)¹	682,635)
Add: Nonredeemable noncontrolling interest (per books)	6,408)
Total equity	689,043)
Add: Short-term borrowings (per books)	3,068)
Add: Long-term debt due within one year (per books)	2,598)
Add: Finance lease obligations due within one year (per books)	800)
Add: Long-term debt, excluding due within one year (per books)	33,401)
Add: Long-term finance lease obligations, excluding due within one year (per books)	5,923)
Total equity and debt	734,833)
Less: Cash and cash equivalents	9,037)
Enterprise value (EV)	725,796)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 85.15 × 8,016,849,444

Walmart Inc., EV calculation

	Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021	Jan 31, 2020
Share price^1, 2	$85.35	$60.68	$46.47	$48.48	$43.91	$37.99
No. shares of common stock outstanding¹	8,016,849,444	8,058,048,674	8,086,967,799	8,255,338,887	8,451,215,085	8,496,831,660
US$ in millions
Common equity (market value)³	684,238)	488,962)	375,801)	400,219)	371,093)	322,795)
Add: Nonredeemable noncontrolling interest (book value)	6,408)	6,488)	7,061)	8,638)	6,606)	6,883)
Total equity	690,646)	495,450)	382,862)	408,857)	377,699)	329,678)
Add: Short-term borrowings (book value)	3,068)	878)	372)	410)	224)	575)
Add: Long-term debt due within one year (book value)	2,598)	3,447)	4,191)	2,803)	3,115)	5,362)
Add: Finance lease obligations due within one year (book value)	800)	725)	567)	511)	491)	511)
Add: Long-term debt, excluding due within one year (book value)	33,401)	36,132)	34,649)	34,864)	41,194)	43,714)
Add: Long-term finance lease obligations, excluding due within one year (book value)	5,923)	5,709)	4,843)	4,243)	3,847)	4,307)
Total equity and debt	736,436)	542,341)	427,484)	451,688)	426,570)	384,147)
Less: Cash and cash equivalents	9,037)	9,867)	8,625)	14,760)	17,741)	9,465)
Enterprise value (EV)	727,399)	532,474)	418,859)	436,928)	408,829)	374,682)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Walmart Inc. Annual Report.

³ 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 85.35 × 8,016,849,444

Download chart

Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Walmart Inc. EV increased from 2023 to 2024 and from 2024 to 2025.

Walmart Inc. (NYSE:WMT)

Enterprise Value (EV)