Valuing Walmart

Back in early 2010, Walmart was not exactly the kind of stock that felt exciting at first glance. It was huge, mature, and already deeply embedded in everyday life. But that was what made the assignment so interesting. We were asked to step into that moment, right after the financial crisis, and figure out what Walmart was actually worth using the valuation tools we had learned in class.

Walmart ended up feeling like a very 2010 company:, which was very defensive, steady, and not flashy, but still stronger than the market may have been giving it credit for. In the end, the paper was less about proving Walmart was dramatically mispriced and more about showing how disciplined valuation can uncover quiet opportunities hiding inside boring-looking businesses.