NIKE vs Walmart: Business Model & Financial Comparison 2026
NIKE · Consumer Cyclical / Footwear & Accessories·Walmart · Consumer Defensive / Discount Stores
Financial Comparison
| Metric | NKENIKE | WMTWalmart |
|---|---|---|
| Market Cap | $79.91B | $1.01T |
| Revenue (TTM) | $46.51B | $713.16B |
| Revenue Growth | 0.6% | 5.6% |
| Gross Margin | 41.1% | 24.9% |
| Operating Margin | 8.1% | 4.6% |
| Net Margin | 5.4% | 3.1% |
| Return on Equity | 18.0% | 21.8% |
| P/E (Trailing) | 31.6x | 46.3x |
| P/E (Forward) | 23.5x | 38.5x |
| Free Cash Flow | $2.58B | $10.55B |
| Cash | $8.34B | $10.73B |
| Total Debt | $11.28B | $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
NIKE
NIKE, Inc. stands as a leading company in Consumer Cyclical. Generating $46.51 billion in annual revenue (growing 0.6% year-over-year) and carrying a market capitalization of $85.89 billion, the company has cemented its position as a foundational player in the global Footwear & Accessories landscape. Under the leadership of its leadership team, NIKE, Inc. continues to execute on a multi-year strategic vision that balances growth investment with s…
Full NIKE 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
NIKE
- NIKE, Inc.'s gross margin of 41.1% is well above industry averages, reflecting pricing power, operational efficiency, or a high-value product mix. The operating margin of 8.1% demonstrates disciplined
- A return on equity of 18.0% demonstrates that NIKE, Inc. generates strong returns from shareholder capital, a hallmark of companies with durable competitive advantages.
- NIKE, Inc. generated $2.58B in free cash flow, providing financial flexibility to invest in growth initiatives, return capital to shareholders, or strengthen the balance sheet.
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
NIKE
- NIKE, Inc.'s debt-to-equity ratio of 80.1 indicates meaningful financial leverage. Total debt stands at $11.28B against $8.34B in cash and equivalents.
- Revenue growth of 0.6% is below what growth investors typically seek, suggesting market saturation in core businesses or increasing competitive pressure.
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
NIKE
- NIKE, Inc. operates in the Footwear & Accessories segment of the broader Consumer Cyclical sector, which represents a $28 trillion global consumer spending market. Even modest share gains in this envi
- 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 NIKE, I
- With $8.34B in cash and strong free cash flow generation, NIKE, Inc. is well-positioned to pursue strategic acquisitions that expand its capabilities, customer base, or geographic reach.
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
NIKE
- Global economic slowdowns, inflation, or rising interest rates can reduce consumer and enterprise spending. NIKE, Inc.'s revenue is not fully insulated from macroeconomic cycles, and a recession scena
- Increasing government regulation — particularly data privacy laws (GDPR, CCPA), antitrust enforcement, and trade restrictions — poses compliance costs and potential restrictions on NIKE, Inc.'s busine
- 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
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 ToolNIKE vs Walmart: FAQ
- Is NIKE bigger than Walmart?
- By market capitalization, Walmart is larger at $1.01T vs NIKE's $79.91B.
- Which has better profit margins — NIKE or Walmart?
- NIKE has higher net profit margins (5.4%) compared to Walmart (3.1%). Gross and operating margins are compared in the table above.
- What sectors do NIKE and Walmart operate in?
- NIKE operates in the Consumer Cyclical sector (Footwear & Accessories). Walmart operates in the Consumer Defensive sector (Discount Stores).
- How does NIKE's revenue compare to Walmart's?
- NIKE generates $46.51B in annual revenue (TTM) while Walmart generates $713.16B. Walmart is the larger company by revenue as of 2026.