Walmart Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Walmart Inc (WMT) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Walmart Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 735,840M vs 2,113,577M combined for tracked competitors (25.8% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+2.2% annualized vs trailing 12 months), vs accelerating (+3.2%) for its tracked peer group.
- Growth: Walmart Inc generated 5.9% revenue growth year over year in Q2 2026, vs 2.1% for its tracked competitors combined.
- Profitability: Its 3.5% net margin compares with 15.4% for the peer group.
- Scale: Walmart Inc ranks #1 of 30 companies by market capitalization in the Wholesale industry, holding 53.8% of industry market cap.
- Peer revenue share: Walmart Inc accounted for 25.6% of combined revenue among its tracked peer group, up from 24.9% a year earlier.
- Peer differentiation: Revenue per employee of $0.35M compares with $0.45M for the peer group (0.8x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
WMT Sales vs. its Competitors, Q2 2026
Walmart Inc reported revenue growth of 5.94 % year on year in Q2 2026, above its competitors' combined revenue growth of 2.11 %.
With a net margin of 3.47 %, Walmart Inc reported lower profitability than its competitors (15.42 %).
Walmart Inc generated 25.63 % of the combined sales of its peer group, up from 24.93 % a year earlier.
Walmart Inc vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Walmart Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Walmart Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (38) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (7) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Walmart Inc's competitor groups requires a Commercial License.
For context: the Wholesale industry grew revenue 8.3% year over year, combined, vs 5.9% for Walmart Inc. Walmart Inc's share of combined industry revenue moved from 50.54% to 49.46%, a loss of 1.09 percentage points.
Walmart Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Walmart Inc | Yes | Yes | Yes | No |
| Competitors combined (63) | ||||
| High-Confidence Competitors (52) | ||||
| Similar-Size Competitors (5) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 87.50 % (7 of 8) | 25.00 % (2 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
WMT Stock Performance relative to its Competitors
WMT Stock Performance relative to High-Confidence Competitors
WMT Stock Performance relative to Similar-Size Competitors
WMT Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Target Corporation | 282.9% | Outperformed |
| 2 | Ross Stores Inc | 282.9% | Outperformed |
| 3 | Abercrombie and Fitch Co | 282.9% | Outperformed |
| 4 | United Natural Foods inc | 282.9% | Outperformed |
| 5 | Five Below Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Walmart Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Walmart Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Walmart Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Walmart Inc | 867,447.94 | 735,840.00 |
| Amazon com Inc | 2,683,773.45 | 776,231.00 |
| Costco Wholesale Corp | 410,173.34 | 293,587.00 |
| Home Depot inc | 288,730.44 | 169,176.00 |
| Publix Super Markets Inc | 159,747.25 | 63,713.00 |
| The Tjx Companies Inc | 145,913.60 | 61,584.00 |
| SUBTOTAL | 5,266,546.37 | 3,487,703.54 |
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Sources: Walmart Inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Walmart Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Walmart Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Carter s Inc | Named by the company | 85% |
| Kontoor Brands Inc | Named by the company | 85% |
| Build a bear Workshop Inc | Named by the company | 85% |
| Barnes and Noble Education Inc | Named by the company | 85% |
| Dollar General Corp | Named by the company | 85% |
| The Children s Place inc | Named by the company | 85% |
| Sharing Services Global Corporation | Named by the company | 85% |
| Cvs Health Corporation | Named by the company | 85% |
| Gamestop Corp | Named by the company | 85% |
| Qvc inc | Named by the company | 85% |
| Conagra Brands Inc | Named by the company | 85% |
| Talkspace Inc | Named by the company | 85% |
| Destination Xl Group Inc | Named by the company | 85% |
| Healthy Choice Wellness Corp | Named by the company | 85% |
| Winmark Corporation | Named by the company | 85% |
| Kimberly clark Corporation | Named by the company | 85% |
| Moneygram International Inc | Named by the company | 85% |
| Qvc Group Inc | Named by the company | 85% |
| Bj s Wholesale Club Holdings Inc | Named by the company | 85% |
| Conn s Inc | Named by the company | 85% |
| Simply Inc | Named by the company | 85% |
| Camping World Holdings Inc | Named by the company | 85% |
| Teladoc Health Inc | Named by the company | 85% |
| Grocery Outlet Holding Corp | Named by the company | 85% |
| Wayfair inc | Named by the company | 85% |
| Ingles Markets Incorporated | Named by the company | 85% |
| Prestige Consumer Healthcare Inc | Named by the company | 85% |
| Sprouts Farmers Market Inc | Named by the company | 85% |
| The Cigna Group | Named by the company | 85% |
| Cuentas Inc | Named by the company | 85% |
| Turtle Beach Corporation | Named by the company | 85% |
| Edible Garden Ag Incorporated | Named by the company | 85% |
| Vsee Health Inc | Named by the company | 85% |
| HEAR | Named by the company | 85% |
| Koss Corporation | Named by the company | 85% |
| Murphy Usa Inc | Named by the company | 85% |
| Alliance Entertainment Holding Corporation | Named by the company | 85% |
| QVCD | Named by the company | 85% |
| Cricut Inc | Named by the company | 85% |
| Symbotic Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Walmart Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Walmart Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Walmart Inc | Walmart US 66.44 % |
| Amazon com Inc | North America 57.75 % |
| Costco Wholesale Corp | United States 72.93 % |
| Home Depot inc | Primary 90.42 % |
| The Tjx Companies Inc | Marmaxx 60.39 % |
| Cvs Health Corporation | Health Services 48.03 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Walmart Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Walmart Inc | 867,448 | 350,400 | 10,714 |
| Amazon com Inc | 2,683,773 | 492,532 | 85,838 |
| Costco Wholesale Corp | 410,173 | 860,959 | 60,381 |
| Home Depot inc | 288,730 | 358,120 | 30,116 |
| Publix Super Markets Inc | 159,747 | 251,830 | 42,688 |
| The Tjx Companies Inc | 145,914 | 163,353 | 15,358 |
| PEERS TOTAL | 4,399,098 | 448,647 | 35,399 |
Walmart Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Home Depot inc | United States 92.74 % |
| Lowe s Companies inc | United States 99.71 % |
| Best Buy Co Inc | United States 91.81 % |
| Maplebear Inc | United States 95.30 % |
| Abercrombie and Fitch Co | Americas 76.48 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Walmart Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 26 companies in Walmart Inc's industry classification, broader than the peer set above. Market cap in millions of $.Walmart Inc ranks #1 of 26 companies by market capitalization in its industry, holding 53.85 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 3,598, indicating a highly concentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Walmart Inc | 867,448 | 53.85 % |
| 2 | Costco Wholesale Corp | 410,173 | 25.46 % |
| 3 | Target Corporation | 72,212 | 4.48 % |
| 4 | W w Grainger Inc | 59,269 | 3.68 % |
| 5 | Sysco Corporation | 1,234 | 5.2% |
| 6 | Dollar General Corp | 1,234 | 5.2% |
| 7 | Dollar Tree Inc | 1,234 | 5.2% |
| 8 | Us Foods Holding Corp | 1,234 | 5.2% |
| 9 | Best Buy Co Inc | 1,234 | 5.2% |
| 10 | Five Below Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Walmart Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Walmart Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Walmart Inc | 867,448 | 4.95 % |
| 2 | Costco Wholesale Corp | 410,173 | -2.03 % |
| 3 | Target Corporation | 1,234 | 12.3% |
| 4 | W w Grainger Inc | 1,234 | 12.3% |
| 5 | Sysco Corporation | 1,234 | 12.3% |
| 6 | Dollar General Corp | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Walmart Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Walmart Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Wholesale industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (43 companies). See the full Wholesale industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 24.07 % | 27.15 % (avg) | -3.1 pp |
| Operating Margin | 4.32 % | industry median | +0.3 pp |
| EBITDA Margin | 6.24 % | -0.10 % (avg) | +6.3 pp |
| Capital Intensity (Capex / Revenue) | 4.00 % | 2.47 % (avg) | +1.5 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Walmart Inc's Valuation vs Competitive Position
Valuation multiples vs the Wholesale industry average (43 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Wholesale industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 42.9x | 23.3x | +19.6x |
| EV / EBITDA | 21.3x | 12.7x | +8.6x |
| P/B | 9.2x | 4.2x | +5.0x |
| Return on Equity | 21.78 % | industry aggregate | -10.55 % |
| Return on Invested Capital | 11.71 % | 1.47 % (avg) | 10.24 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Walmart Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 2.98 % | 2.81 % | 0.00 % | 1.86 % | 0.40 % | 4.48 % | 5.07 % | 4.73 % |
| Operating Margin | 4.08 % | 4.27 % | 4.27 % | 3.93 % | 3.75 % | 3.34 % | 3.97 % | 4.12 % |
| Return on Invested Capital | 9.79 % | 10.07 % | 8.58 % | 7.75 % | 7.46 % | 9.05 % | 11.31 % | 11.63 % |
| P/E | 30.0x | 42.3x | 48.2x | 84.3x | 157.5x | 111.0x | 37.8x | 40.8x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Walmart Inc's Strategic Group Map
Every company in Walmart Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Walmart Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Walmart Inc's BCG Growth-Share Matrix
Relative market share (vs Walmart Inc's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Walmart Inc falls in the Cash Cow quadrant: relative market share of 2.11x vs its largest competitor, in an industry growing revenue 2.3% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Walmart Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Low | Industry HHI of 3,598 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 4.00 % vs industry average 2.47 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Walmart Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Walmart Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Walmart Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Walmart Inc falls in the Medium attractiveness / High strength cell: Invest / Grow.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Walmart Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Market leader by capitalization in its industry (#1 of 26, 53.85 % share).
- Latest-quarter revenue run-rate is accelerating (+2.2% annualized vs trailing 12 months).
Weaknesses
- Return on equity 10.6 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
Opportunities
No rule matched.
Threats
- Losing revenue share to the broader industry (-1.1 points over the past year).
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Walmart Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Walmart Inc | 0.10 | 0.78 | 0.38 |
| Amazon com Inc | 0.38 | 1.07 | 0.21 |
| Costco Wholesale Corp | 0.41 | 1.05 | 0.18 |
| Home Depot inc | 0.05 | 1.06 | 3.66 |
| Publix Super Markets Inc | - | 1.33 | - |
| The Tjx Companies Inc | 0.41 | 1.13 | 0.30 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Walmart Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Walmart Inc | Q2 2026 | +5.9 % | -8.7 % |
| Amazon com Inc | Q2 2026 | +19.9 % | +244.9 % |
| Costco Wholesale Corp | Q2 2026 | +11.6 % | +14.4 % |
| Home Depot inc | Q2 2026 | +5.7 % | +4.7 % |
| Publix Super Markets Inc | Q2 2026 | +1.2 % | +19.4 % |
| The Tjx Companies Inc | Q1 2026 | +9.2 % | +28.6 % |
| PEERS TOTAL | +9.1 % | +112.1 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Walmart Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Walmart Inc | Q2 2026 | +4.5 % | +16.7 % |
| Amazon com Inc | Q2 2026 | +18.5 % | +300.3 % |
| Costco Wholesale Corp | Q2 2026 | +11.9 % | +24.9 % |
| Home Depot inc | Q2 2026 | +5.3 % | -4.0 % |
| Publix Super Markets Inc | Q2 2026 | +0.9 % | +43.6 % |
| The Tjx Companies Inc | Q1 2026 | +6.5 % | +33.2 % |
Walmart Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Walmart Inc | 7.78% | 13.37% | 21.78% |
| Amazon com Inc | 15.21% | 23.40% | 30.50% |
| Costco Wholesale Corp | 24.96% | 46.27% | 65.85% |
| Home Depot inc | 13.28% | 17.60% | 102.68% |
| Publix Super Markets Inc | 26.17% | 30.58% | 43.06% |
| The Tjx Companies Inc | 16.54% | 47.92% | 59.66% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Walmart Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Walmart Inc | 39.25 | 1.18 |
| Amazon com Inc | 19.79 | 3.46 |
| Costco Wholesale Corp | 46.42 | 1.40 |
| Home Depot inc | 20.29 | 1.71 |
| Publix Super Markets Inc | 33.14 | 2.51 |
| The Tjx Companies Inc | 25.35 | 2.37 |
| PEERS AVERAGE | 21.98 | 1.51 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.