Walmart+ Hits Record 25% Penetration as Membership Growth Surges

Walmart+ membership has hit a record high, with approximately 25% of respondents in Morgan Stanley’s latest consumer survey indicating they are members. This translates to about 33.2 million U.S. households, marking an increase of roughly 1.6 million households since August 2026. Adjusted estimates place the membership closer to 21.6 million households, or around 16% penetration among U.S. households, with year-over-year growth near 17%. This growth aligns with Walmart’s strategy to build higher-margin recurring revenue streams.

Walmart Inc. (WMT) is currently fairly valued at $104.27 according to GuruFocus’ GF Value™ metric, nearly identical to its current market price of $104.26. This suggests that Walmart shares are neither significantly undervalued nor overvalued. The company’s GF Score™ stands at 83 out of 100, reflecting strong overall fundamentals, particularly in profitability and financial health, though momentum is a relative weakness.

The company operates as the world’s largest retailer by revenue, serving approximately 250 million customers weekly through various formats, including supercenters, discount stores, and membership warehouse clubs like Sam’s Club. Walmart’s business model emphasizes everyday low prices, supported by an extensive supply chain, while expanding into higher-margin segments such as advertising, third-party marketplace services, and financial and health services.

GuruFocus tracks 19 premium gurus holding Walmart shares, with a net reduction in recent quarters as 13 gurus trimmed their positions while 6 added. Insider activity over the past 12 months reveals no insider buying and significant insider selling totaling approximately $2.95 billion. This mixed but slightly cautious trend signals some profit-taking or reallocation among sophisticated investors, though Walmart remains widely held by top investment managers.