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🐂 WMT — Company Profile (Educational)

Educational site, not investment advice. Market cap / stock price / quarterly financials are volatile — not written here. Links to SEC + Yahoo Finance instead; verify real-time data yourself.

📌 Basics

Dimension Content Source
Core business World's largest retailer (physical stores + e-commerce + Sam's Club) + ads (Walmart Connect) + streaming (Vudu, divested) + healthcare (exited) SEC 10-K
Founded / HQ 1962 / Bentonville, Arkansas, USA wiki
CEO John Furner — President & CEO (effective 2026/02/01); Doug McMillon retired 2026/01/31, remains on Board until next annual shareholders meeting Walmart 2025/11/14 announcement
Primary listing NYSE: WMT —
Fiscal year Early Feb – late Jan (FY27 Q1 = Feb-Apr 2026) SEC EDGAR

💡 Real-time market cap / stock price / same-store sales growth / e-commerce revenue / Walmart+ members: see SEC + IR links below

🏭 Industry Chain Coordinates (Part 1-C6 framework)

Upstream (Who WMT depends on)

Supplier What flows Key dependency
Global 100,000+ suppliers (P&G / Unilever / food / apparel / electronics) Goods SKUs WMT holds bargaining power (scale leverage), suppliers fragmented
WMT logistics network (in-house + 3PL) Delivery / warehousing Internal + multi-supplier
Data centers + cloud (AMZN AWS + MSFT Azure + self-built hybrid) E-commerce infrastructure Multi-cloud, avoiding AMZN lock-in
AI / algorithms (OpenAI partnership + in-house) Recommendation / personalization / agentic shopping Multi-supplier
Vizio (acquired 2024) CTV / ad device / ACR data Integrated

Downstream (Who depends on WMT)

Customer Relationship Customer concentration
Global consumers (4,400+ US stores + intl + e-commerce) B2C retail Extremely fragmented
Sam's Club members B2C membership wholesale Extremely fragmented
Advertisers (Walmart Connect) Self-built ad platform (similar to AMZN Ads) Fragmented
Marketplace 3rd-party sellers B2B platform Fragmented sellers

Competitors

  • Retail + e-commerce direct rivals: AMZN (Amazon + Whole Foods + Prime) · COST (Costco) · TGT (Target) · KR (Kroger) · Aldi (private) · Dollar General (DG) · Trader Joe's (private)
  • E-commerce + platforms: SHOP (Shopify) · EBAY
  • CTV ads (post-Vizio): ROKU · TTD (Trade Desk) · Samsung Ads · AMZN Prime Video Ads
  • AI apps (shopping agents): OPENAI Operator (shopping agent) · GOOGL Shopping AI · AMZN Rufus

💼 Business Model + Value Capture (Part 1-C7 lens)

  • Revenue mix: Walmart US (domestic retail) ~65% / Walmart International ~20% / Sam's Club ~12% / Advertising + Marketplace + Other ~3% (high growth)
  • Gross margin: 24-25% (retail baseline low); Walmart Connect ads + Marketplace are key margin improvers
  • Pricing power: EDLP (Everyday Low Prices) strategy — extreme supplier bargaining, but structurally low gross margin; ads + membership higher margin lifts mix
  • Substitution difficulty: Extreme — world's largest store + logistics network (~10,000+ stores globally; US ~4,600 Walmart + ~600 Sam's Club ≈ ~5,200, within 10 miles of 90% of US population; US 164 distribution facilities + 29 dedicated eCommerce fulfillment centers, per FY2025 10-K) non-replicable

(Quarterly same-store growth / e-commerce growth / ad revenue / Walmart+ members: see latest 10-Q)

🏰 Moat Assessment (Part 3-C2 Buffett 5-step lens)

Type Strength (0-1) Source
Brand 0.8 "Walmart" is US retail default, world's #1 retailer
Switching cost 0.2 Retail switching cost extremely low (other store / AMZN), depends on convenience + price
Network effects 0.4 Marketplace seller + buyer network (weaker than AMZN)
Scale + cost 1.0 World's largest retailer, bargaining + logistics scale non-replicable

Composite: 2.4 / 4 → Extreme physical + scale moat, structurally weak customer switching cost

⚠️ Key Reverse Trigger Conditions (Part 3-C5 anti-thesis lens)

  • Trigger 1 (quarterly): Same-store sales growth < 2% (vs historical 3-5%)
  • Trigger 2 (quarterly): E-commerce growth < 15% YoY (vs AMZN + private e-commerce competition)
  • Trigger 3 (quarterly): Walmart Connect ad growth < 25% YoY (high-margin business slowing)
  • Trigger 4 (event): Tariff war / global supply chain disruption — goods cost up, margin pressure
  • Trigger 5 (strategic): Vizio CTV / ad integration execution issues — Vizio data + WMT first-party data synergy failure

📚 SEC Primary Public Filings (look it up yourself)

Real-time stock price: Yahoo Finance WMT

Educational — numbers shift; learn the method, not the figures · investment decisions based on your own research + risk tolerance