Analyst Report: Walmart Inc

Argus

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Nov 21, 2025

Summary

Walmart is the world's largest retailer. In the fiscal twelvemonth ended January 31, 2025, revenues were $681 cardinal (compared with Amazon's $637 cardinal successful full revenue). The institution has 3 segments: Walmart Stores, which accounted for astir 69% of revenue; Sam's Club, a rank warehouse chain, which comprised 13% of revenue; and the International segment, which generated 18% of sales. The company, based successful Bentonville, Arkansas, ended fiscal 2025 with astir 10,770 retail units successful 19 countries. Groceries are the largest merchandise class successful the U.S. market, astatine astir 60% of sales. Health and Wellness, different unchangeable category, is 12%. General Merchandise is 26% of sales. Sam's Club gets astir 65% of income from Groce

Chris Graja, CFA

Senior Analyst: Retail

Chris covers the Consumer assemblage for Argus. He was the #1 Stock Picker successful the Household Durables sector, winning the 2019 StarMine U.S. Analyst grant from Refinitiv. He was the #1 Stock Picker successful Food and Staples Retailing, winning back-to-back U.S. Analyst Awards successful 2015 and 2016. He received a prestigious Volunteer of the Year grant from the New York Society of Security Analysts successful 2000. Prior to Argus, Chris spent 16 years astatine Bloomberg Financial Markets. He was the Director of Training and a Senior Researcher for Bloomberg’s probe part earlier joining the caller Bloomberg mag arsenic Technical Studies Editor successful 1993. He roseate to Executive Markets Editor of the publishing group. Chris co-authored the publication “Investing successful Small-Cap Stocks,” which was published successful 3 U.S. editions, an audio book, and 2 Chinese editions. Chris earned an MBA from Rutgers University. He is simply a CFA charterholder.