Argus
•
May 22, 2026
Walmart Inc.: Maintaining BUY on EPS beat, share gains
Sector(s)
Consumer Defensive
Summary
Walmart is the world’s largest retailer. In the fiscal year ended January 31, 2026, revenues were $713 billion (compared with Amazon’s $717 billion in total revenue). AMZN may have (slightly) higher revenue, but a growing percentage is from cloud computing services as opposed to retail sales. WMT has three segments: Walmart Stores, which accounted for about 68% of revenue; Sam’s Club, a membership warehouse chain, which accounted for 13% of revenue; and the International segment, which accounted for 19% of revenue. The company, based in Bentonville, Arkansas, ended fiscal 2026 with about 10,955 retail units in 19 countries. Groceries are the largest product category in the U.S. market, at approximately 60% of sales. Health and Wellness, another stable category, is 14%. General Merchandise is 24% of sales. Sam’s Club gets approximately 70% of s
Upgrade to begin using premium research reports and get so much more.
Exclusive reports, detailed company profiles, and best-in-class trade insights to take your portfolio to the next level
Analyst Profile
Chris Graja, CFA
Senior Analyst: Retail
Chris covers the Consumer sector for Argus. He was the #1 Stock Picker in the Household Durables sector, winning the 2019 StarMine U.S. Analyst award from Refinitiv. He was the #1 Stock Picker in Food and Staples Retailing, winning back-to-back U.S. Analyst Awards in 2015 and 2016. He received a prestigious Volunteer of the Year award from the New York Society of Security Analysts in 2000. Prior to Argus, Chris spent 16 years at Bloomberg Financial Markets. He was the Director of Training and a Senior Researcher for Bloomberg’s research division before joining the new Bloomberg magazine as Technical Studies Editor in 1993. He rose to Executive Markets Editor of the publishing group. Chris co-authored the book “Investing in Small-Cap Stocks,” which was published in three U.S. editions, an audio book, and two Chinese editions. Chris earned an MBA from Rutgers University. He is a CFA charterholder.
