Core Insights - Walmart Inc.'s International unit emerged as the strongest growth driver in Q3 of fiscal 2026, indicating robust global momentum as the next year approaches [1] Financial Performance - Net sales in the Walmart International segment grew by 11.4% in constant currency to $33.7 billion, with adjusted operating income increasing by 16.9% to $1.4 billion, reflecting improved e-commerce economics and a healthier business mix [2] - E-commerce sales in the segment advanced by 26% during the quarter, driven by marketplace activities and enhanced store-fulfilled pickup and delivery services [2] Key Growth Drivers - The growth was significantly supported by Flipkart's Big Billion Days event, which shifted into the quarter, leading to a sharp increase in e-commerce volume and a substantial lift in international advertising revenues [3] - Sales in China reached $6.1 billion, marking a 21.8% increase in constant currency, with digital penetration accounting for nearly half of sales, aided by rapid fulfillment speeds [4] Future Outlook - Walmart's third-quarter results indicate that the International segment is benefiting from scalable digital growth, rising advertising contributions, and improved fulfillment productivity, though future performance will depend on timing, mix, and one-off items [5] Market Comparison - Walmart's shares have increased by 20.9% over the past year, compared to the industry's growth of 22.2%, while shares of competitors Costco and Target have declined by 10.2% and 31%, respectively [6] Valuation Metrics - Walmart's forward 12-month price-to-earnings ratio is 39.83, higher than the industry's 36.1, indicating a premium valuation compared to Target but a discount relative to Costco [9] Earnings Estimates - The Zacks Consensus Estimate for Walmart's current financial-year sales and earnings per share suggests year-over-year growth of 4.5% and 4.8%, respectively [11]