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NMS · Valuation Lab
WMT
Walmart Inc.
Last$112.34
Market cap894B
EV/EBITDA21.2x
Intrinsic value
$15.05
MoS -646.3% · Overvalued
Assuming 1.0% FCF margin and 5.3% Y1–5 growth.
Upside to price
EV (DCF)184.6B
Terminal share66%
Expected IV$33.64
Probability weights
Projected free cash flows
Stage FCF path with present values · terminal 66% of EV
PV of stage FCFs63.1B
PV of terminal value121.5B
Enterprise value184.6B
Net cash / (debt)-64.8B
Equity value119.8B
Intrinsic value / share$15.05
| Year | Revenue | FCF | PV | DF |
|---|---|---|---|---|
| Y1 | 751B | 7.5B | 7B | 93.5% |
| Y2 | 790.8B | 7.9B | 6.9B | 87.3% |
| Y3 | 832.7B | 8.3B | 6.8B | 81.6% |
| Y4 | 876.8B | 8.8B | 6.7B | 76.3% |
| Y5 | 923.3B | 9.2B | 6.6B | 71.3% |
| Y6 | 947.3B | 9.5B | 6.3B | 66.6% |
| Y7 | 971.9B | 9.7B | 6.1B | 62.3% |
| Y8 | 997.2B | 10B | 5.8B | 58.2% |
| Y9 | 1T | 10.2B | 5.6B | 54.4% |
| Y10 | 1T | 10.5B | 5.3B | 50.8% |
| Terminal | — | — | 121.5B | — |
Educational DCF model only — not financial advice. Terminal value and assumptions dominate results; verify filings and run your own diligence.