Walmart's Strong Performance and Growth Prospects Justify Buy RatingWe would note, reaffirmed operating income guide absorbs ~$730M of unexpected cost for higher claims versus the start of the year. For F3Q26, Walmart expects constant-currency revenue growth of 3.75–4.75%, adjusted operating income growth of 3.0% to +6.0%, and adjusted EPS of $0.58–0.60 (vs. consensus $0.57). AUGUST 21, 2025 | 9:18 AM EDT COMPANY BRIEF M/ACC MARKET DATA Cap (mln) $822,288 Current Net Debt (mln) $57,894 Enterprise Value (mln) $880,182 Shares Outstanding (mln) 8,016.8 30-Day Avg.