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Walmart holds steady as Q2 tariff refund masks US sales slowdown, platform growth strong but valuation stretched.

Company Fundamentals
12 Nov 2026, 16:45 WIB
Seeking Alpha
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Neutral
Walmart holds steady as Q2 tariff refund masks US sales slowdown, platform growth strong but valuation stretched.

Walmart maintains a Hold rating due to stretched valuation despite strong growth in its platform businesses like advertising and membership. Q2 results were boosted by a one-time $2.9 billion tariff refund, which concealed a slowdown in core US comparable sales to 2.6%, the weakest in over six years. While platform segments grow 3 to 10 times faster than core sales, current high valuation multiples limit upside. Investors will watch Q3 guidance closely for signs of improvement to justify current expectations.

Walmart shares show slight positive movement, up 0.20% at USD 125.92 on Pluang. The stock's market cap stands near $997 billion, with a dividend yield of 0.79%. These figures are current as of Nov 12, 2026 22:01 WIB.

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