Walmart’s $6.4B Ad Business and 23% E-Commerce Drive 29.7% Annual Gain
Walmart returned +553.75% on a $1,000 investment over 10 years, trailing Costco’s +747.33%, yet outperformed over one year with a +29.71% gain versus a −2.37% decline. The retailer’s 23% e-commerce revenue share and $6.4 billion advertising unit complement a 47× P/E multiple.
1. Decade-Long Returns
Walmart generated a +553.75% return on a $1,000 investment over the past decade, compared with Costco’s +747.33%. This performance still eclipses the S&P 500’s +240.83% return in the same period.
2. One-Year Performance Reversal
Over the past year Walmart’s stock climbed +29.71%, reversing its decade-long underperformance relative to Costco’s −2.37% decline.
3. Growth Drivers and Valuation
The retailer’s omnichannel push lifted e-commerce to 23% of U.S. net sales and drove 24% global e-commerce growth in Q4 FY2026. Its advertising segment now generates $6.4 billion annually, complemented by a raised dividend of $0.99 for FY2027. Walmart trades at a 47× forward P/E multiple.