Apple vs Walmart: Business Model & Financial Comparison 2026
Apple · Technology / Consumer Electronics·Walmart · Consumer Defensive / Discount Stores
Financial Comparison
| Metric | AAPLApple | WMTWalmart |
|---|---|---|
| Market Cap | $3.66T | $979.73B |
| Revenue (TTM) | $435.62B | $713.16B |
| Revenue Growth | 15.7% | 5.6% |
| Gross Margin | 47.3% | 24.9% |
| Operating Margin | 35.4% | 4.6% |
| Net Margin | 27.0% | 3.1% |
| Return on Equity | 152.0% | 21.8% |
| P/E (Trailing) | 31.5x | 45.0x |
| P/E (Forward) | 26.7x | 37.4x |
| Free Cash Flow | $106.31B | $10.55B |
| Cash | $66.91B | $10.73B |
| Total Debt | $90.51B | $68.43B |
Data sourced from Yahoo Finance. Green highlights indicate better performance for that metric. Use the interactive tool for real-time data.
Business Model Comparison
Apple
Apple stands as the world's most valuable company and leader in consumer electronics. Generating $435.62 billion in annual revenue (growing 15.7% year-over-year) and carrying a market capitalization of $3.83 trillion, the company has cemented its position as a foundational player in the global Consumer Electronics landscape. Under the leadership of Tim Cook, Apple continues to execute on a multi-year strategic vision that balances growth investme…
Full Apple analysis →Walmart
Walmart stands as the world's largest retailer by revenue. Generating $713.16 billion in annual revenue (growing 5.6% year-over-year) and carrying a market capitalization of $983.13 billion, the company has cemented its position as a foundational player in the global Discount Stores landscape. Under the leadership of Doug McMillon, Walmart continues to execute on a multi-year strategic vision that balances growth investment with shareholder retur…
Full Walmart analysis →SWOT Analysis Comparison
Strengths
Apple
- With a market capitalization of $3.83T, Apple is one of the largest companies in its sector, providing the scale advantages of brand recognition, supplier leverage, and capital access that smaller com
- Apple's gross margin of 47.3% is well above industry averages, reflecting pricing power, operational efficiency, or a high-value product mix. The operating margin of 35.4% demonstrates disciplined cos
- Revenue grew 15.7% year-over-year to $435.62B, indicating strong demand for Apple's products and services and outperformance relative to many industry peers.
Walmart
- With a market capitalization of $983.13B, Walmart is one of the largest companies in its sector, providing the scale advantages of brand recognition, supplier leverage, and capital access that smaller
- Walmart maintains a gross margin of 24.9% and operating margin of 4.6%, demonstrating consistent operational execution and cost discipline in a competitive market.
- A return on equity of 21.8% demonstrates that Walmart generates strong returns from shareholder capital, a hallmark of companies with durable competitive advantages.
Weaknesses
Apple
- With a debt-to-equity ratio of 102.6, Apple carries significant debt relative to equity. While manageable given its cash flow, elevated leverage limits financial flexibility and increases vulnerabilit
- With 150,000 employees globally, Apple faces inherent challenges in agility, decision-making speed, and maintaining a consistent culture across geographies — advantages that smaller, nimbler competito
- iPhone revenue still represents 52% of total sales — over-reliance on a single product
Walmart
- Walmart's debt-to-equity ratio of 63.2 indicates meaningful financial leverage. Total debt stands at $67.09B against $10.73B in cash and equivalents.
- A net profit margin of 3.1% leaves limited buffer against revenue fluctuations or cost increases. Any significant market downturn could quickly pressure profitability.
- With 2,100,000 employees globally, Walmart faces inherent challenges in agility, decision-making speed, and maintaining a consistent culture across geographies — advantages that smaller, nimbler compe
Opportunities
Apple
- The rapid advancement of generative AI and large language models presents Apple with opportunities to automate operations, enhance products, and develop new AI-native services. Companies in Technology
- Apple operates in the Consumer Electronics segment of the broader Technology sector, which represents a $5.0 trillion by 2027 (IDC Global Technology Market). Even modest share gains in this environmen
- Emerging markets — particularly India (1.4B people, rapidly growing middle class), Southeast Asia (700M people), and Sub-Saharan Africa — represent significant untapped addressable markets for Apple's
Walmart
- Walmart operates in the Discount Stores segment of the broader Consumer Defensive sector, which represents a $12 trillion global consumer staples market. Even modest share gains in this environment tr
- Emerging markets — particularly India (1.4B people, rapidly growing middle class), Southeast Asia (700M people), and Sub-Saharan Africa — represent significant untapped addressable markets for Walmart
- With $10.73B in cash and strong free cash flow generation, Walmart is well-positioned to pursue strategic acquisitions that expand its capabilities, customer base, or geographic reach.
Threats
Apple
- Global economic slowdowns, inflation, or rising interest rates can reduce consumer and enterprise spending. Apple's revenue is not fully insulated from macroeconomic cycles, and a recession scenario c
- Increasing government regulation — particularly data privacy laws (GDPR, CCPA), antitrust enforcement, and trade restrictions — poses compliance costs and potential restrictions on Apple's business mo
- The technology sector evolves at a pace where today's competitive advantages can erode quickly. New entrants with AI-native approaches, open-source alternatives, or disruptive business models could ch
Walmart
- Global economic slowdowns, inflation, or rising interest rates can reduce consumer and enterprise spending. Walmart's revenue is not fully insulated from macroeconomic cycles, and a recession scenario
- Increasing government regulation — particularly data privacy laws (GDPR, CCPA), antitrust enforcement, and trade restrictions — poses compliance costs and potential restrictions on Walmart's business
- Competition for skilled technology, engineering, and management talent remains intense. High employee turnover or inability to attract top talent could slow innovation and execution — particularly cri
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Open Comparison ToolApple vs Walmart: FAQ
- Is Apple bigger than Walmart?
- By market capitalization, Apple is larger at $3.66T vs Walmart's $979.73B.
- Which has better profit margins — Apple or Walmart?
- Apple has higher net profit margins (27.0%) compared to Walmart (3.1%). Gross and operating margins are compared in the table above.
- What sectors do Apple and Walmart operate in?
- Apple operates in the Technology sector (Consumer Electronics). Walmart operates in the Consumer Defensive sector (Discount Stores).
- How does Apple's revenue compare to Walmart's?
- Apple generates $435.62B in annual revenue (TTM) while Walmart generates $713.16B. Walmart is the larger company by revenue as of 2026.