V vs WMT: Visa and Walmart compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Walmart is the larger company, worth $819.2B, close to Visa's $757.8B.
- Visa grew revenue faster over the last year (+17.1% vs +5.9%).
- Visa keeps more of each dollar of revenue as operating profit (61.1% vs 4.4%).
- On earnings, Visa is the cheaper stock (34.8x vs 36.2x).
- Walmart's price assumes faster free cash flow growth: about 18% a year, against 12% for Visa (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | V | WMT |
|---|---|---|
| Market cap | $757.8B | $819.2B |
| Share price | $385.45 | $111.35 |
| Revenue (last fiscal year) | $40.0B | $706.4B |
| Free cash flow (last fiscal year) | $21.6B | $14.9B |
| Revenue growth, last year | +17.1% | +5.9% |
| Revenue growth per year, last 5 fiscal years | +13.5% | +5.6% |
| Operating margin | 61.1% | 4.4% |
| Net margin | 51.7% | 3.0% |
| Return on equity | 62.4% | 22.5% |
| P/E (trailing) | 34.8x | 36.2x |
| Price / free cash flow | 35.1x | 54.9x |
| EV / EBITDA | 27.1x | 20.6x |
| FCF growth the price implies | 12.4% | 18.3% |
| Dividend yield | 0.66% | — |
| Debt / equity | 1.67x | 1.93x |
| Fundamental grade | B | D |
| Superinvestors holding it | 28 | 8 |
| Insider purchases, last 12 months | 10 | 9 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Visa
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $24.1B | $14.5B | 65.6% |
| 2022 | $29.3B | $17.9B | 64.2% |
| 2023 | $32.7B | $19.7B | 64.3% |
| 2024 | $35.9B | $18.7B | 65.7% |
| 2025 | $40.0B | $21.6B | 60.0% |
Walmart
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $567.8B | $11.1B | 4.6% |
| 2023 | $605.9B | $12.0B | 3.4% |
| 2024 | $642.6B | $15.1B | 4.2% |
| 2025 | $674.5B | $12.7B | 4.4% |
| 2026 | $706.4B | $14.9B | 4.2% |
Where the revenue comes from
Visa · by products, 2025
Data processing revenue$20.0B36%
Service revenue$17.5B31%
International transaction revenue$14.2B25%
Other revenue$4.1B7%
Walmart · by segments, 2026
Walmart U.S.$485.6B68%
Walmart International$132.0B19%
Sam's Club U.S.$95.5B13%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open V in InvestinglyQuestions
Which is bigger, Visa or Walmart?
Walmart (WMT), at $819.2B against $757.8B.
Is V or WMT cheaper?
By trailing P/E, Visa (34.8x) is cheaper than Walmart (36.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, V or WMT?
Visa: revenue grew +17.1% over the last year, against +5.9%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.