Martins, FranciscoGuo, Xingxing Ye2023-06-162023-01-092022-12-16http://hdl.handle.net/10362/154027This work “Equity Research: Valuation of Walmart” focus on analyzing WMT position on the retail industry. On first instance and taking as basis the past performance, the industry trend and company characteristic to forecast the financial performance of the company. After having all these information, the DCF model was applied and the valuation resulted in a share price of $164.52 for FY 2023, which yields in a Total Shareholder return of 13.9%, and thus, a buy recommendation.engWaccValuationWalmartRetailmaster thesis203310608