GuruFocus Manual of Stocks™  |  Dec 05, 2021
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT
Walmart Inc (NYSE:WMT)
[1]
Fairly Valued[5]$ 137.51
Retail - Defensive - Discount Stores
Market Cap: $ 381,436 Mil
Walmart Inc operates retail stores in various formats under various banners. Its operations comprise of three reportable business segments, Walmart U.S., Walmart International and Sam's Club in three categories retail, wholesale and others.
Valuation Rank
Score: 3 /10CurrentIndustry MedianHistorical Median
PE Ratio48.0817.4015.91
Forward P/E20.6616.31N/A
PB Ratio4.641.913.36
PS Ratio0.680.470.53
P/FCF22.7810.9117.19
Shiller P/E27.522.1719.11
PEG Ratio19.231.682.22
Valuation Analysis
% of Price
NCAV-28.66-21
Tangible Book19.2114
Graham Number35.1526
DCF (Earnings Based)42.2131
Median PS Value109.4380
DCF (FCF Based)127.0292
Price137.51
Dividend & Ownership
Dividend Yield(ttm) %1.59
Dividend Yield(forward) %1.6
Payout0.77
Dividend Growth(5y) %2
Yield on Cost(5y) %1.76
Continuous Div. since1975
Insider Ownership %1.58
Institution Ownership %20.21
Financial Strength
Score: 6 /10CurrentIndustry MedianHistorical Median
Cash-to-Debt0.280.400.12
Equity-to-Asset0.340.390.39
Interest Coverage12.2210.179.68
Piotroski F-Score766
Profitability Rank
Score: 7 /10CurrentIndustry MedianHistorical Median
Operating Margin %4.473.324.85
Net Margin %1.401.882.95
ROE %9.949.4419.19
ROA %3.283.157.07
ROC (Joel Greenblatt) %13.6912.6520.29
Growth (Per Share)
10 Yr5 Yr1 Yr
Revenue Growth (%)4.85.55.4
EBITDA Growth (%)0.82.5-34.4
Oprt. Income Growth (%)-0.40.915.4
EPS w/o NRI Growth (%)-1.91-58.7
Free Cash Flow Growth (%)10.16.2-28.9
Book Value Growth (%)3.11.93
Quarterly
Oct20Jan21Apr21Jul21Oct21
Revenue134708152079138310141048140525
Net Income5135-2091273042763105
EPS1.8-0.740.971.521.11
Revenue (YoY) %5.257.352.742.44.32
Net Income (YoY) %56.17-150.5-31.58-33.97-39.53
EPS (YoY) %56.52-151.03-30.71-33.04-38.33
Warning Signs
SEVEREOperating Margin %: Declined
Good Signs
GOODAltman Z-Score: Strong
Insider Trades
InsiderPositionDateTradesCur. Shares
Walton S RobsonDirector, 10% O12/03/21-7853871303091k
Walton Alice L10% Owner12/03/21-7853871306622k
Walton Jim C10% Owner12/03/21-7853871310381k
Walton Jim C10% Owner12/01/21-14459561311266k
Walton S RobsonDirector, 10% O12/01/21-14459561304431k
Walton Alice L10% Owner12/01/21-14459561307408k
Mcmillon C DouglasPresident and C11/24/21-97081870k
Mcmillon C DouglasPresident and C10/28/21-97081879k
Mcmillon C DouglasPresident and C09/23/21-97081889k
Walton Jim C10% Owner09/21/21-6920001318390k
As of 12-05-2021
* All financial numbers are in millions except for per share data, ratios and percentage change.
Gain % SP500 %
1W-5.10-1.21
1M-8.44-2.43
3M-7.870.40
6M-2.508.98
YTD-3.4622.46
1Y-6.4325.39
3Y13.3919.60
5Y15.8717.70
10Y10.4715.98
152.79
52.19
48.41
18M
9.2M
2011201220132014201520162017201820192020CurrentPerformance
61.4777.1581.2190.4787.3374.3109.55105.56121.28152.79152.57Highest Stock Price
48.4157.3668.7672.6656.4263.1566.2382.493.86104.05126.28Lowest Stock Price
209728231814241440274315209830203424314683277907320572396322381436Market Cap
34743389328332433217311230102945286828472797Shares Outstanding-Diluted
13.5813.9315.316.8314.5215.2432.542.422.0629.5848.08PE Ratio
2.943.043.173.372.612.614.043.834.294.94.64PB Ratio
0.480.510.510.570.440.430.640.550.630.720.68PS Ratio
7.517.798.258.787.567.4412.7713.711.5813.1816.15EV-to-EBITDA
2012201320142015201620172018201920202021TTMPer Share Data
128.53138.29145.08149.75149.87156.13166.23174.67182.69196.4202.82Revenue per Share
4.525.024.885.054.574.383.282.265.194.752.86Earnings per Share
3.093.753.095.0556.776.085.915.079.076.04Free Cash Flow per Share
1.461.591.881.921.9622.042.082.122.162.19Dividends per Share
14.8216.8517.5519.6120.1919.9420.214.2515.5718.4119.21Tangible Book per Share
76.4577.6878.8979.878.0779.4883.4587.8593.82103.57109.43Median PS Value
38.8743.5843.7646.9245.5744.3238.6126.9242.6444.3635.15Graham Number
2012201320142015201620172018201920202021TTMIncome Statement
446509468651476294485651482130485873500343514405523964559151571962Revenue
111516116354118225120565121146124617126947129104129359138836143223Gross Profit
2524.824.824.825.125.725.425.124.724.825Gross Margin %
8502588629913539341897041101853106510107147108791116288117681Total Operating Expense
2649127725268722714724105227642043721957205682254825542Operating Income
5.95.95.65.654.74.14.33.944.5Operating Margin %
1569916999160221636314694136439862667014881135108020Net Income
3.53.63.43.43.12.821.32.82.41.4Net Margin %
2665227911269912726024186228641745313806227152287915412EBIT
3475836389358613643333640329442798224484337023403126183EBITDA
22.5232120.818.217.212.78.920.217.49.9ROE %
8.48.67.987.36.94.93.26.55.53.3ROA %
2012201320142015201620172018201920202021Oct21Balance Sheet
6550778172819135870568676756772294651774116111Cash & Equivalents
59376768667767785624583556146283628465167349Total Receivables
193406203105204751203490199581198825204522219295236495252496244851Total Assets
6348127191208266706004392096627830824152964016Short-Term Debt & CLO
4707941417445594349544030420183682550203641925795053581Long-Term Debt & CLO
117645121367123412117553115970118290123700139661154943164965154094Total Liabilities
7131576343762558139480546777987786972496746698092582274Total Stockholders Equity
7576181738813398593783611805358082279634815528753190757Total Equity
2012201320142015201620172018201920202021TTMCashflow Statement
2425525591232572856427552316732833727753252553607429485Cash Flow from Operations
-16609-12637-12526-11125-10675-13896-9079-24036-9128-10071-5094Cash Flow from Investing
-6298-7600-6683-1015-4112-8298-8296-7410-5717-2625-8807Repurchase of Stock
348514873015-5018-3158-3591-449612035-1071-5706-9427Net Issuance of Debt
-8458-11946-10789-15071-16285-19072-19875-2537-14299-16117-22890Cash Flow from Financing
-8451231-5001854-430-1747-1307421759101211788Net Change in Cash
-13510-12898-13115-12174-11477-10619-10051-10344-10705-10264-12414Capital Expenditure
1074512693101421639016075210541828617409145502581017071Free Cash Flow
Competitor
TickerCompanyFinancial
Strength
Profitability
Rank
Market Cap
($M)
PE RatioPS RatioNet
Margin %
ROA %ROE %
NYSE:WMTWalmart Inc67381,43648.080.681.403.289.94
NAS:COSTCostco Wholesale Corp78233,69446.931.202.568.7230.22
NYSE:TGTTarget Corp68118,61718.221.206.5613.1347.51
MEX:WALMEXWal - Mart de Mexico SAB de CV6857,35128.001.706.0611.7626.41
NYSE:DGDollar General Corp5851,79521.261.607.529.8437.91
GuruFocus Manual of Stocks™  |  Dec 05, 2021
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT

Financial Strength[2] (Quarterly data, as of Oct. 2021) : Fair (6/10)

0
1
2
3
4
5
6
7
8
9

Cash-to-Debt : 0.28

Cash-to-Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. A high ratio indicates that a company is better able to pay back its debt, and is thus able to take on more debt if necessary.


Equity-to-Asset : 0.34

Equity-to-Asset ratio is calculated as total stockholders equity divided by its total assets. Equity-to-Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity-to-Asset ratio (more leveraged) may have higher ROE % because of the leverage.


Debt-to-Equity : 0.70

A high Debt-to-Equity ratio generally means that a company has been aggressive in financing its growth with debt.


Piotroski F-Score : 7

The Piotroski F-Score is used to determine the strength of a firm's financial position, with 9 being the best and 0 being the worst.

0
1
2
3
4
5
6
7
8
9


WACC : 3.88% vs ROIC : 9.17%

The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. Return on invested capital (ROIC) measures how well a company generates cash flow relative to the capital it has invested in its business.


Dividend Yield : 1.47%

Dividend yield is a way to measure how much cash flow you are getting for each dollar invested in an equity position.

GuruFocus Manual of Stocks™  |  Dec 05, 2021
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT

Profitability[3] (Annual data, as of Jan. 2021) : Good (7/10)

0
1
2
3
4
5
6
7
8
9

Revenue : $140,525 Mil vs Net Income : $3,105 Mil

Revenue is the amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. Net Income is a company's total profit. Net income is calculated by taking revenues and adjusting for the cost of doing business, depreciation, interest, taxes and other expenses.


Cash & Equivalents : $16,111 Mil vs Long-Term Debt* : $53,581 Mil

Cash & equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash. Long-Term Debt* consists of loans and obligations lasting over one year.


Operating Margin % : 4.12%

Operating margin % measures how much profit a company makes on a dollar of sales. Operating Margin % is calculated as Operating Income divided by Revenue.


EPS without NRI : $1.11

Earnings Per Share without Non-Recurring Items is the amount of earnings without non-recurring items per outstanding share of the company's stock. In calculating earnings per share without non-recurring items, the dividends of preferred stocks and Non Operating Income need to subtracted from the total net income first.


Dividends per Share : $0.55

Dividends per Share is the amount of dividends that the shareholders of a company receive on a per-share basis. It is calculated using the total dividends paid out to shareholders over one fiscal year and the number of shares outstanding.


Free Cash Flow per Share : $0.11

Free Cash flow per Share is the amount of Free cash flow per outstanding share of the company's stock.

GuruFocus Manual of Stocks™  |  Dec 05, 2021
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT

Valuation (Quarterly data, as of Oct. 2021)

These valuation metrics should give you a sense of reasonable prices, but be careful with them. Always seek to understand why a valuation is changing over time.


Valuation Chart (Current stock price : $137.51)


PE Ratio without NRI : 52.24

The price-to-earnings ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.


PB Ratio : 5.05

The price-to-book ratio measures the valuation of the stock relative to the underlying asset of the company.


PS Ratio : 0.74

The price-to-sales ratio is a valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the value placed on each dollar of a company’s sales or revenues.


Price-to-Free-Cash-Flow : 24.75

Price-to-free-cash-flow is very similar to the valuation metric of price-to-operating-cash-flow but is considered a more exact measure, owing to the fact that it uses free cash flow, which subtracts capital expenditures from a company's total operating cash flow, thereby reflecting the actual cash flow available to fund non-asset-related growth.


EV-to-EBIT : 30.18

Enterprise value of a company divided by its trailing 12 months earnings before interest and taxes (EBIT).

GuruFocus Manual of Stocks™  |  Dec 05, 2021
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT

Valuation Bands

In these charts the 10-year valuation bands of the price-to-earnings ratio (PE Ratio), price-to-book ratio (PB Ratio), price-to-sales ratio (PS Ratio) and price-to-operating-cash-flow ratio (POCF) are drawn together with the historical stock prices. For example, the upper line of the PE band is where the stock price would have been if it were always traded at the maximum PE ratio of the past 10 years. The lower line of the PE band is where the stock price would have been if it were always traded at the lowest PE ratio of the past 10 years. It is always better if the stock price is close to the lower line, which indicates a lower valuation.


Historical Price and PE Band


Historical Price and PS Band


Historical Price and PB Band


Historical Price and Price-to-Operating-Cash-Flow (POCF) Band

GuruFocus Manual of Stocks™  |  Dec 05, 2021
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT

Warning Signs

GuruFocus conducted a thorough checkup using a checklist of 32 items that cover the areas of financial strength, profitability, growth, and valuation of each company. The purpose of Warning Signs is to warn you that the company may have red flags in certain areas, helping to avoid overlooking them. These warning signs do not necessarily mean you should not invest in the stock. But you should be aware of them before you invest.


Severe Warning Signs

Operating Margin % : Declined

Walmart Inc operating margin has been in 5-year decline. The average rate of decline per year is -4.4%.

Good Signs

Altman Z-Score : Strong

Altman Z-score of 4.5 is strong.

Piotroski F-Score : High

Piotroski F-Score is 7, indicating very healthy situation.

Beneish M-Score : Unlikely manipulator

Beneish M-Score -2.46 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

Revenue per Share : Consistent growth

Walmart Inc has shown predictable revenue and earnings growth.

PB Ratio : Close to 1-year low

Walmart Inc stock PB Ratio (=4.64) is close to 1-year low of 4.5

Medium Warning Signs

Dividend Payout Ratio : Too high

If a company dividend payout ratio is too high, its dividend may not be sustainable. The dividend payout ratio of Walmart Inc is 0.77, which seems too high.

Price : Close to 10-year high

Walmart Inc stock Price is close to 10-year high

Insider Sell : Insider Selling

There were 18 insider selling transactions and no insider buying over the past 3 months. 16,839,039 shares were sold.
GuruFocus Manual of Stocks™  |  Dec 05, 2021
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT

Competitive Comparison


5 Year Price Change Comparison


Financial Strength

CompanyFinancial StrengthCash-to-DebtEquity-to-AssetDebt-to-EquityInterest CoveragePiotroski F-ScoreAltman Z-ScoreBeneish M-ScoreWACC %ROIC %
NAS:COSTCostco Wholesale Corp7/101.200.300.5839.2357.37-2.614.8814.13
NAS:OLLIOllie's Bargain Outlet Holdings Inc7/101.100.690.293930.6265.24-3.059.1614.10
NAS:PSMTPricesmart Inc7/100.940.540.2922.0664.72-2.606.109.97
NYSE:TGTTarget Corp6/100.380.251.1120.5484.39-2.597.1521.06
NYSE:WMTWalmart Inc6/100.280.340.7012.2274.50-2.463.889.17
NYSE:BJBJ's Wholesale Club Holdings Inc5/100.030.105.2311.7184.19-2.712.6910.64
NYSE:BIGBig Lots Inc5/100.170.301.4834.9043.66-2.327.559.70
NYSE:DGDollar General Corp5/100.020.242.2721.2253.53-2.403.5113.22
NAS:DLTRDollar Tree Inc5/100.070.341.3514.3363.28-2.585.018.20

Profitability

CompanyProfitability RankOperating
Margin %
Net Margin %ROE %ROA %Price-to-Free-Cash-FlowROC (Joel Greenblatt) %3-Year Revenue Growth %3-Year EBITDA Growth %3-Year EPS w/o NRI Growth %
NAS:COSTCostco Wholesale Corp8/103.422.5630.228.7243.7626.8611.2012.4016.70
NYSE:DGDollar General Corp8/1010.117.5237.919.8446.0024.2016.3023.3023.60
NYSE:TGTTarget Corp8/108.416.5647.5113.1320.8130.6611.9013.2017.80
NYSE:BIGBig Lots Inc7/105.644.2020.706.420.0013.589.3038.0054.40
NAS:DLTRDollar Tree Inc7/107.365.2919.166.6030.4715.914.70-0.50-7.80
NAS:OLLIOllie's Bargain Outlet Holdings Inc7/1014.4211.0915.0910.1120.3037.0418.3026.0023.40
NAS:PSMTPricesmart Inc7/104.392.7111.175.90152.6618.544.206.409.20
NYSE:WMTWalmart Inc7/104.471.409.943.2822.7813.695.708.7013.10
NYSE:BJBJ's Wholesale Club Holdings Inc6/103.722.55103.417.5717.5720.304.4027.8096.20

Valuation

CompanyPE RatioPB RatioPS RatioPrice-to-Intrinsic-Value-Projected-FCFPrice-to-Intrinsic-Value-DCF (Earnings Based)Price-to-Median-PS-ValuePrice-to-Peter-Lynch-Fair-ValuePrice-to-Graham-NumberEarnings Yield (Joel Greenblatt) %Forward Rate of Return (Yacktman) %
NYSE:BIGBig Lots Inc6.511.300.270.590.250.660.260.6112.0825.13
NAS:OLLIOllie's Bargain Outlet Holdings Inc16.552.331.841.280.000.000.721.828.0823.30
NYSE:TGTTarget Corp18.228.631.201.641.161.971.542.647.0615.53
NYSE:DGDollar General Corp21.268.441.601.940.651.411.329.045.2018.87
NYSE:BJBJ's Wholesale Club Holdings Inc21.5315.590.550.000.000.001.530.004.810.00
NAS:PSMTPricesmart Inc22.032.350.591.811.490.660.001.567.094.32
NAS:DLTRDollar Tree Inc23.154.251.222.000.001.040.003.834.8022.06
NAS:COSTCostco Wholesale Corp46.9313.311.203.771.992.054.685.272.9611.72
NYSE:WMTWalmart Inc48.084.640.681.553.261.260.003.913.648.47
GuruFocus Manual of Stocks™  |  Dec 05, 2021
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT

Peter Lynch Chart[4]

GuruFocus Manual of Stocks™  |  Dec 05, 2021
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT

Per Share Data



Per Share Data

Jan06
Jan07
Jan08
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
TTM Fiscal Period
74.52
83.58
92.59
102
105
115
129
138
145
150
150
156
166
175
183
196
203
Revenue per Share
5.64
6.3
7.02
7.54
8.08
9.1
10.01
10.74
10.92
11.23
10.46
10.59
9.3
8.31
11.75
11.95
9.3
EBITDA per Share
4.53
4.99
5.47
5.83
6.24
7.01
7.67
8.24
8.22
8.41
7.52
7.35
5.8
4.69
7.92
8.04
5.48
EBIT per Share
2.68
2.71
3.13
3.39
3.71
4.47
4.52
5.02
4.88
5.05
4.57
4.38
3.28
2.26
5.19
4.75
2.86
Earnings per Share (Diluted)
2.72
2.92
3.16
3.35
3.73
4.18
4.53
5.01
4.85
4.99
4.57
4.38
3.28
2.26
5.19
4.75
2.86
EPS without NRI
2.29
2.21
2.62
3.08
4.27
3.48
3.93
4.41
3.68
5.56
5.47
7.44
5.41
3.59
6.63
9.8
3.63
Owner Earnings per Share (TTM)
0.89
1.1
1.4
2.95
3.63
2.98
3.09
3.75
3.09
5.05
5
6.77
6.08
5.91
5.07
9.07
6.04
Free Cash Flow per Share
4.36
4.86
5.07
5.86
6.77
6.44
6.98
7.55
7.08
8.81
8.57
10.18
9.41
9.42
8.81
12.67
10.44
Operating Cash Flow per Share
1.49
1.88
1.38
1.86
2.09
2.1
1.92
2.35
2.25
2.83
2.75
2.25
2.29
2.66
3.38
6.29
5.8
Cash per Share
0.6
0.67
0.88
0.95
1.09
1.21
1.46
1.59
1.88
1.92
1.96
2
2.04
2.08
2.12
2.16
2.19
Dividends per Share
12.77
14.91
16.26
16.68
18.61
19.49
20.87
23.04
23.59
25.22
25.47
25.52
26.38
25
26.67
28.69
29.62
Book Value per Share
9.86
11.57
12.27
12.78
14.35
14.73
14.82
16.85
17.55
19.61
20.19
19.94
20.2
14.25
15.57
18.41
19.21
Tangible Book per Share
9.3
9.45
11.24
10.78
10.91
14.18
15.63
16.34
17.52
15.54
15.82
15.07
15.75
20.01
25.87
22.42
20.73
Total Debt per Share
46.11
47.69
50.74
47.12
53.43
56.07
61.36
69.95
74.68
84.98
66.36
66.74
107
95.83
114
140
138
Month End Stock Price

Ratios

Jan06
Jan07
Jan08
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
TTM Fiscal Period
21.9
19.67
20.18
20.6
21.17
23.58
22.45
23.02
21
20.76
18.15
17.23
12.67
8.87
20.22
17.37
9.94
ROE %
6.07
6.15
6.47
7.28
7.38
8.19
7.64
7.57
6.62
6.16
6.95
6.6
3.14
2.32
4.71
3.54
2.14
ROE % Adjusted to Book Value
8.69
7.79
8.08
8.19
8.61
9.33
8.39
8.57
7.86
8.02
7.29
6.85
4.89
3.15
6.53
5.53
3.28
ROA %
28.19
25.39
26.37
27.1
27.54
30.89
30.65
31.92
28.46
27.26
23.11
21.9
16.38
13.22
35.05
28.28
15.58
Return-on-Tangible-Equity
9.54
8.55
8.92
9.05
9.5
10.3
9.32
9.57
8.71
8.83
7.98
7.48
5.36
3.56
7.56
6.3
3.72
Return-on-Tangible-Asset
25.97
24.99
24.03
23.95
24.43
24.5
24.21
24.38
23.01
23.24
20.75
19.82
15.24
12.21
19.05
19.32
13.69
ROC (Joel Greenblatt) %
22.79
22.01
21.77
21.64
21.7
21.72
21.05
21.27
20.24
19.92
17.71
17.14
13.53
10.31
15.12
14.36
9.72
ROCE %
13
12.6
12.05
12.03
12.84
12.88
12.46
12.43
11.33
11.9
11.24
10.6
9.14
8.3
8.62
7.98
9.17
ROIC %
6.43
5.38
2.7
4.68
4.84
5.3
3.63
3.96
4.39
3.29
3.15
2.49
3.79
5.73
4.66
3.51
3.88
WACC %
4.07
4.65
5.03
5.03
4.94
4.84
4.49
4.18
4.22
4.61
5.09
4.93
5.04
4.49
3.98
3.41
3.34
Effective Interest Rate on Debt %
23.86
24.22
24.64
24.81
25.48
25.34
24.98
24.83
24.82
24.83
25.13
25.65
25.37
25.1
24.69
24.83
25.04
Gross Margin %
6
5.88
5.82
5.63
5.88
6.05
5.93
5.92
5.64
5.59
5
4.69
4.08
4.27
3.93
4.03
4.47
Operating Margin %
3.6
3.24
3.38
3.31
3.52
3.89
3.52
3.63
3.36
3.37
3.05
2.81
1.97
1.3
2.84
2.42
1.4
Net Margin %
1.19
1.31
1.51
2.88
3.45
2.59
2.41
2.71
2.13
3.37
3.33
4.33
3.65
3.38
2.78
4.62
2.98
FCF Margin %
0.73
0.63
0.69
0.65
0.59
0.73
0.75
0.71
0.74
0.62
0.62
0.59
0.6
0.8
0.97
0.78
0.7
Debt-to-Equity
0.39
0.41
0.4
0.4
0.41
0.38
0.37
0.38
0.37
0.4
0.4
0.39
0.38
0.33
0.32
0.32
0.34
Equity-to-Asset
0.28
0.26
0.27
0.26
0.24
0.28
0.28
0.27
0.28
0.25
0.25
0.23
0.23
0.27
0.31
0.25
0.24
Debt-to-Asset
0.62
0.59
0.61
0.59
0.57
0.61
0.61
0.6
0.6
0.58
0.58
0.6
0.61
0.64
0.66
0.65
0.63
Liabilities-to-Assets
57.64
58.24
58.96
61.36
62.29
60.88
59.6
58.69
57.97
59.07
60.11
62.56
62.95
60.92
56.76
56.78
58.54
Gross-Profit-to-Asset %
2.42
2.4
2.39
2.47
2.45
2.4
2.39
2.36
2.34
2.38
2.39
2.44
2.48
2.43
2.3
2.29
2.34
Asset Turnover
0.22
0.23
0.28
0.28
0.29
0.29
0.32
0.32
0.39
0.39
0.43
0.46
0.62
0.92
0.41
0.46
0.77
Dividend Payout Ratio
2.51
2.84
3.14
3.41
3.6
3.99
4.51
4.95
5.15
5.06
4.69
4.3
4.18
4.22
4.38
4.18
4.02
Days Sales Outstanding
36.16
37.05
37.78
35.54
35.59
37.16
38.29
38.69
38.48
37.9
38.88
40.37
42.78
44.12
43.49
41.73
43.96
Days Payable
47.36
45.35
44.22
41.83
40.34
40.07
42.03
43.78
45.19
44.99
45.3
44.21
42.44
41.71
41.02
38.81
42.3
Days Inventory
13.71
11.14
9.58
9.7
8.35
6.9
8.25
10.04
11.86
12.15
11.11
8.14
3.84
1.81
1.91
1.26
2.36
Cash Conversion Cycle
7.71
8.05
8.25
8.73
9.05
9.11
8.68
8.34
8.08
8.11
8.06
8.26
8.6
8.75
8.9
9.4
8.63
Inventory Turnover
0.76
0.76
0.75
0.75
0.75
0.75
0.75
0.75
0.75
0.75
0.75
0.74
0.75
0.75
0.75
0.75
0.75
COGS-to-Revenue
0.1
0.09
0.09
0.09
0.08
0.08
0.09
0.09
0.09
0.09
0.09
0.09
0.09
0.09
0.09
0.08
0.09
Inventory-to-Revenue
0.05
0.05
0.04
0.03
0.03
0.03
0.03
0.03
0.03
0.03
0.02
0.02
0.02
0.02
0.02
0.02
0.02
Capex-to-Revenue
* All financial numbers are in millions except for per share data, ratios and percentage change. When Return-on-Tangible-Equity displays Neg. E, it means the the tangible equity is negative.
GuruFocus Manual of Stocks™  |  Dec 05, 2021
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT

Financial Satement



Income Statement

Jan06
Jan07
Jan08
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
TTM Fiscal Period
312101
348368
377023
404254
408085
421849
446509
468651
476294
485651
482130
485873
500343
514405
523964
559151
571962
Revenue
237649
263979
284137
303941
304106
314946
334993
352297
358069
365086
360984
361256
373396
385301
394605
420315
428739
Cost of Goods Sold
74452
84389
92886
100313
103979
106903
111516
116354
118225
120565
121146
124617
126947
129104
129359
138836
143223
Gross Profit
23.86
24.22
24.64
24.81
25.48
25.34
24.98
24.83
24.82
24.83
25.13
25.65
25.37
25.1
24.69
24.83
25.04
Gross Margin %
55739
63892
70934
77546
79977
81361
85025
88629
91353
93418
97041
101853
106510
107147
108791
116288
117681
Selling, General, & Admin. Expense
55739
63892
70934
77546
79977
81361
85025
88629
91353
93418
97041
101853
106510
107147
108791
116288
117681
Total Operating Expense
18713
20497
21952
22767
24002
25542
26491
27725
26872
27147
24105
22764
20437
21957
20568
22548
25542
Operating Income
6
5.88
5.82
5.63
5.88
6.05
5.93
5.92
5.64
5.59
5
4.69
4.08
4.27
3.93
4.03
4.47
Operating Margin %
242
280
309
284
181
201
161
186
119
113
81
100
152
217
189
121
141
  Interest Income
-1420
-1809
-2103
-2184
-2065
-2205
-2320
-2249
-2335
-2461
-2548
-2367
-2330
-2346
-2599
-2315
-2091
  Interest Expense
-1178
-1529
-1794
-1900
-1884
-2004
-2159
-2063
-2216
-2348
-2467
-2267
-2178
-2129
-2410
-2194
-1950
Net Interest Income
--
--
--
--
--
--
--
--
--
--
--
--
-3136
-8368
1958
210
-10271
Other Income (Expense)
17535
18968
20158
20867
22118
23538
24332
25662
24656
24799
21638
20497
15123
11460
20116
20564
13321
Pre-Tax Income
-5803
-6354
-6889
-7133
-7156
-7579
-7924
-7958
-8105
-7985
-6558
-6204
-4600
-4281
-4915
-6858
-5022
Tax Provision
33.09
33.5
34.18
34.18
32.35
32.2
32.57
31.01
32.87
32.2
30.31
30.27
30.42
37.36
24.43
33.35
37.7
Tax Rate %
11732
12614
13269
13734
14962
15959
16408
17704
16551
16814
15080
14293
10523
7179
15201
13706
8299
Net Income (Continuing Operations)
-177
-905
-132
146
-79
1034
-21
52
144
285
--
--
--
--
--
--
-- Net Income (Discontinued Operations)
-324
-425
-406
-499
-513
-604
-688
-757
-673
-736
-386
-650
-661
-509
-320
-196
-279
  Other Income (Minority Interest)
11231
11284
12731
13381
14370
16389
15699
16999
16022
16363
14694
13643
9862
6670
14881
13510
8020
Net Income
3.6
3.24
3.38
3.31
3.52
3.89
3.52
3.63
3.36
3.37
3.05
2.81
1.97
1.3
2.84
2.42
1.4
Net Margin %
2.68
2.71
3.13
3.4
3.72
4.48
4.54
5.04
4.9
5.07
4.58
4.4
3.29
2.28
5.22
4.77
2.87
EPS (Basic)
2.68
2.71
3.13
3.39
3.71
4.47
4.52
5.02
4.88
5.05
4.57
4.38
3.28
2.26
5.19
4.75
2.86
EPS (Diluted)
4188
4168
4072
3951
3877
3670
3474
3389
3283
3243
3217
3112
3010
2945
2868
2847
2797
Shares Outstanding (Diluted Average)
18955
20777
22261
23051
24183
25743
26652
27911
26991
27260
24186
22864
17453
13806
22715
22879
15412
EBIT
4645
5459
6317
6739
7157
7641
8106
8478
8870
9173
9454
10080
10529
10678
10987
11152
10771
Depreciation, Depletion and Amortization
23600
26236
28578
29790
31340
33384
34758
36389
35861
36433
33640
32944
27982
24484
33702
34031
26183
EBITDA

Cashflow Statement

Jan06
Jan07
Jan08
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
TTM Fiscal Period
11408
12189
13269
13734
14962
15959
16408
17704
16551
16814
15080
14293
10523
7179
15201
13706
8299
Net Income From Continuing Operations
4645
5459
6317
6739
7157
7641
8106
8478
8870
9173
9454
10080
10529
10678
10987
11152
10771
Depreciation, Depletion and Amortization
-466
-214
-564
-101
-297
-733
-796
-614
-566
-569
-19
-402
-1074
-368
154
-1086
-2093
  Change In Receivables
-1761
-1274
-775
-184
2213
-3205
-3727
-2759
-1667
-1229
-703
1021
-140
-1311
-300
-2395
-6798
  Change In Inventory
4033
2720
1899
1626
2400
2243
2746
2313
-590
4093
3002
5714
4457
1974
-181
11453
8054
  Change In Payables And Accrued Expense
1806
1232
560
1341
4316
-1695
-1777
-1060
-2823
2295
2280
6333
3243
295
-327
7972
-837
Change In Working Capital
-129
89
-8
581
-504
651
1050
-133
-279
-503
-672
761
-304
-499
320
1911
-737
Deferred Tax
-102
-45
--
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Cash from Discontinued Operating Activities
613
1311
504
752
318
1087
468
602
938
785
1410
206
4346
10100
-926
1333
11989
Cash Flow from Others
18241
20235
20642
23147
26249
23643
24255
25591
23257
28564
27552
31673
28337
27753
25255
36074
29485
Cash Flow from Operations
-14530
-15666
-14937
-11499
-12184
-12699
-13510
-12898
-13115
-12174
-11477
-10619
-10051
-10344
-10705
-10264
-12414
Purchase Of Property, Plant, Equipment
1042
394
957
714
1002
489
580
532
727
570
635
456
378
519
321
215
406
Sale Of Property, Plant, Equipment
-601
-68
-1595
-1576
--
-202
-3548
-316
-15
--
--
-2463
-375
-14656
-56
-180
-248
Purchase Of Business
--
610
--
838
--
--
--
--
--
671
246
662
1046
876
833
56
7935
Sale Of Business
--
--
--
--
--
--
--
--
--
--
--
-1901
--
--
--
--
-- Purchase Of Investment
-30
44
--
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Cash From Discontinued Investing Activities
-67
223
-95
781
-438
219
-131
45
-123
-192
-79
-31
-77
-431
479
102
-773
Cash From Other Investing Activities
-14186
-14463
-15670
-10742
-11620
-12193
-16609
-12637
-12526
-11125
-10675
-13896
-9079
-24036
-9128
-10071
-5094
Cash Flow from Investing
-3580
-1718
-7691
-3521
-7276
-14776
-6298
-7600
-6683
-1015
-4112
-8298
-8296
-7410
-5717
-2625
-8807
Repurchase of Stock
7691
7199
13543
6566
5546
11899
8069
2965
7983
5174
1274
137
11624
15872
5492
--
7173
  Issuance of Debt
-3673
-7291
-9066
-9484
-7412
-4080
-4584
-1478
-4968
-10192
-4432
-3728
-16120
-3837
-6563
-5706
-16600
  Payments of Debt
4018
-92
4477
-2918
-1866
7819
3485
1487
3015
-5018
-3158
-3591
-4496
12035
-1071
-5706
-9427
Net Issuance of Debt
-2511
-2802
-3586
-3746
-4217
-4437
-5048
-5361
-6139
-6185
-6294
-6216
-6124
-6102
-6048
-6116
-6161
Cash Flow for Dividends
-349
-510
-622
267
-832
-634
-597
-472
-982
-2853
-2721
-967
-959
-1060
-1463
-1670
1505
Other Financing
-2422
-5122
-7422
-9918
-14191
-12028
-8458
-11946
-10789
-15071
-16285
-19072
-19875
-2537
-14299
-16117
-22890
Cash Flow from Financing
-101
97
252
-781
194
66
-33
223
-442
-514
-1022
-452
487
-438
-69
235
287
Effect of Exchange Rate Changes
1532
747
-2198
1706
632
-512
-845
1231
-500
1854
-430
-1747
-130
742
1759
10121
1788
Net Change in Cash
-14530
-15666
-14937
-11499
-12184
-12699
-13510
-12898
-13115
-12174
-11477
-10619
-10051
-10344
-10705
-10264
-12414
Capital Expenditure
3711
4569
5705
11648
14065
10944
10745
12693
10142
16390
16075
21054
18286
17409
14550
25810
17071
Free Cash Flow
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Dec 05, 2021
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT

Financial Satement


Balance Sheet

Jan06
Jan07
Jan08
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
TTM Fiscal Period
6193
7767
5492
7275
7907
7395
6550
7781
7281
9135
8705
6867
6756
7722
9465
17741
16111
  Cash And Cash Equivalents
6193
7767
5492
7275
7907
7395
6550
7781
7281
9135
8705
6867
6756
7722
9465
17741
16111
Cash, Cash Equivalents, Marketable Securities
2575
2840
3642
3905
4144
5089
5937
6768
6677
6778
5624
5835
5614
6283
6284
6516
7349
  Accounts Receivable
2575
2840
3642
3905
4144
5089
5937
6768
6677
6778
5624
5835
5614
6283
6284
6516
7349
Total Receivables
31910
33685
35159
34511
32713
36437
40714
43803
44858
45141
44469
43046
43783
44269
44435
44949
57484
  Inventories, Other
31910
33685
35159
34511
32713
36437
40714
43803
44858
45141
44469
43046
43783
44269
44435
44949
57484
Total Inventories
3147
2690
3727
3258
3268
3091
1774
1588
2369
2224
1441
1941
3511
3623
1622
20861
2020
Other Current Assets
43825
46982
48020
48949
48032
52012
54975
59940
61185
63278
60239
57689
59664
61897
61806
90067
82964
Total Current Assets
16174
18612
19879
19852
22591
24386
23499
25612
26184
26261
25624
24801
25298
24526
24619
19308
--   Land And Improvements
55206
64052
72141
73810
73657
79051
84275
90686
95488
97496
96845
98547
101155
101006
105674
97582
--   Buildings And Improvements
24157
27134
30236
32158
36390
40885
41916
43699
45756
47851
49950
51843
55082
56804
60984
58940
--   Machinery, Furniture, Equipment
--
--
--
--
5210
4262
5312
5828
5661
5787
4539
4301
3619
3474
3751
4741
--   Construction In Progress
5392
5392
5736
5341
5669
5905
5936
5899
5589
5239
11096
11637
12703
7078
21841
17647
110331
  Other Gross PPE
100929
115190
127992
131161
143517
154489
160938
171724
178678
182634
188054
191129
197857
192888
216869
198218
110331
Gross Property, Plant and Equipment
-23064
-26750
-31125
-35508
-41210
-46611
-48614
-55043
-60771
-65979
-71538
-76951
-83039
-81493
-89820
-88370
--   Accumulated Depreciation
77865
88440
96867
95653
102307
107878
112324
116681
117907
116655
116516
114178
114818
111395
127049
109848
110331
Property, Plant and Equipment
12097
13759
15879
15260
16126
16763
20651
20497
19510
18102
16695
17037
18242
31181
31073
28983
28923
Intangible Assets
12097
13759
15879
15260
16126
16763
20651
20497
19510
18102
16695
17037
18242
31181
31073
28983
28923
  Goodwill
4400
2406
2748
3567
3942
4129
5456
5987
6149
5455
6131
9921
11798
14822
16567
23598
22633
Other Long Term Assets
94362
104605
115494
114480
122375
128770
138431
143165
143566
140212
139342
141136
144858
157398
174689
162429
161887
Total Long-Term Assets
138187
151587
163514
163429
170407
180782
193406
203105
204751
203490
199581
198825
204522
219295
236495
252496
244851
Total Assets
25101
28484
30344
28849
30451
33676
36608
38080
37415
38410
38487
41433
46092
47060
46973
49141
57156
  Accounts Payable
1340
706
1000
677
1347
157
3487
5062
3520
3613
3065
3737
3718
3407
3319
3570
446
  Total Tax Payable
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
1528
  Other Current Payables
13274
14675
15725
18112
15510
15254
12219
12584
12762
13254
13649
12060
13295
13269
12798
14896
24474
  Current Accrued Expense
39715
43865
47069
47638
47308
49087
52314
55726
53697
55277
55201
57230
63105
63736
63090
67607
83604
Accounts Payable & Accrued Expense
8349
7998
10953
7354
4573
5686
6022
12392
11773
6383
5453
3355
8995
7101
5937
3339
2022
  Short-Term Debt
284
285
316
315
346
336
326
327
309
287
551
565
667
729
2304
1957
1994
  Short-Term Capital Lease Obligation
8633
8283
11269
7669
4919
6022
6348
12719
12082
6670
6004
3920
9662
7830
8241
5296
4016
Short-Term Debt & Capital Lease Obligation
--
--
--
--
--
--
--
--
--
--
--
1856
2017
1932
1990
2310
--   Current Deferred Revenue
--
--
--
--
--
--
--
--
--
--
--
1856
2017
1932
1990
2310
-- DeferredTaxAndRevenue
477
--
140
83
3316
3494
3638
3373
3566
3306
3414
3922
3737
3979
4469
17432
-- Other Current Liabilities
48825
52148
58478
55390
55543
58603
62300
71818
69345
65253
64619
66928
78521
77477
77790
92645
87620
Total Current Liabilities
26429
27222
29799
31349
33231
40692
44070
38394
41771
40889
38214
36015
30045
43520
43714
41194
36425
  Long-Term Debt
3667
3513
3603
3200
3170
3150
3009
3023
2788
2606
5816
6003
6780
6683
20478
16756
17156
  Long-Term Capital Lease Obligation
30096
30735
33402
34549
36401
43842
47079
41417
44559
43495
44030
42018
36825
50203
64192
57950
53581
Long-Term Debt & Capital Lease Obligation
0.73
0.63
0.69
0.65
0.59
0.73
0.75
0.71
0.74
0.62
0.62
0.59
0.6
0.8
0.97
0.78
0.7
Debt-to-Equity
4501
4971
5087
6014
5508
6682
7862
7613
8017
8805
7321
9344
8354
11981
12961
14370
12893
NonCurrent Deferred Liabilities
1594
2160
1939
397
307
408
404
519
1491
--
--
--
--
--
--
--
-- Other Long-Term Liabilities
36191
37866
40428
40960
42216
50932
55345
49549
54067
52300
51351
51362
45179
62184
77153
72320
66474
Total Long-Term Liabilities
85016
90014
98906
96350
97759
109535
117645
121367
123412
117553
115970
118290
123700
139661
154943
164965
154094
Total Liabilities
417
413
397
393
378
352
342
332
323
323
317
305
295
288
284
282
277
Common Stock
49105
55818
57319
63660
66357
63967
68691
72978
76566
85777
90021
89354
85107
80785
83943
88763
85674
Retained Earnings
1053
2508
3864
-2688
-70
646
-1410
-587
-2996
-7168
-11597
-14232
-10181
-11542
-12805
-11766
-8488
Accumulated other comprehensive income (loss)
2596
2834
3028
3920
3803
3577
3692
3620
2362
2462
1805
2371
2648
2965
3247
3646
4811
Additional Paid-In Capital
53171
61573
64608
65285
70468
68542
71315
76343
76255
81394
80546
77798
77869
72496
74669
80925
82274
Total Stockholders Equity
--
--
--
1794
2180
2705
4446
5395
5084
4543
3065
2737
2953
7138
6883
6606
8483
Minority Interest
53171
61573
64608
67079
72648
71247
75761
81738
81339
85937
83611
80535
80822
79634
81552
87531
90757
Total Equity
0.39
0.41
0.4
0.4
0.41
0.38
0.37
0.38
0.37
0.4
0.4
0.39
0.38
0.33
0.32
0.32
0.34
Equity-to-Asset
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Dec 05, 2021
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT

Valuation Ratios



Valuation Ratios

Jan06
Jan07
Jan08
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
TTM Fiscal Period
17.21
17.6
16.21
13.9
14.4
12.54
13.58
13.93
15.3
16.83
14.52
15.24
32.5
42.4
22.06
29.58
48.08
PE Ratio
16.95
16.33
16.06
14.07
14.32
13.41
13.55
13.96
15.4
17.03
14.52
15.24
32.5
42.4
22.06
29.58
48.08
PE Ratio without NRI
20.1
21.54
19.34
15.28
12.51
16.11
15.63
15.86
20.31
15.28
12.14
8.97
19.72
26.66
17.27
14.34
37.9
Price-to-Owner-Earnings
3.61
3.2
3.12
2.83
2.87
2.88
2.94
3.04
3.17
3.37
2.61
2.61
4.04
3.83
4.29
4.9
4.64
PB Ratio
4.68
4.12
4.14
3.69
3.72
3.81
4.14
4.15
4.25
4.33
3.29
3.35
5.28
6.73
7.35
7.63
7.16
Price-to-Tangible-Book
52.04
43.51
36.22
15.98
14.73
18.8
19.84
18.68
24.18
16.81
13.28
9.87
17.55
16.21
22.57
15.5
22.78
Price-to-Free-Cash-Flow
10.59
9.82
10.01
8.04
7.89
8.7
8.79
9.26
10.54
9.65
7.75
6.56
11.32
10.17
13
11.09
13.17
Price-to-Operating-Cash-Flow
0.62
0.57
0.55
0.46
0.51
0.49
0.48
0.51
0.51
0.57
0.44
0.43
0.64
0.55
0.63
0.72
0.68
PS Ratio
1.28
1.16
1.23
1.19
1.46
1.44
1.45
1.5
1.67
2.58
4.61
46.18
--
--
--
7.72
19.23
PEG Ratio
0.72
0.66
0.64
0.55
0.58
0.57
0.58
0.61
0.62
0.66
0.53
0.5
0.71
0.65
0.75
0.8
0.74
EV-to-Revenue
9.52
8.7
8.42
7.43
7.59
7.26
7.51
7.79
8.25
8.78
7.56
7.44
12.77
13.7
11.58
13.18
16.15
EV-to-EBITDA
11.85
10.99
10.82
9.6
9.84
9.41
9.79
10.16
10.96
11.73
10.51
10.73
20.48
24.29
17.19
19.6
27.44
EV-to-EBIT
8.44
9.1
9.24
10.42
10.16
10.63
10.21
9.84
9.12
8.53
9.51
9.32
4.88
4.12
5.82
5.1
3.64
Earnings Yield (Joel Greenblatt) %
15.23
16.36
15.43
15.09
13.76
13.93
14.17
14.3
14.09
11.26
9.55
7.71
3.1
-0.32
2.4
8.69
8.47
Forward Rate of Return (Yacktman) %
27.02
24.74
22.83
19.4
19.73
18.54
18.16
18.88
18.71
20.28
15.14
14.48
22.86
20.98
24.04
29.45
27.5
Shiller PE Ratio
1.3
1.41
1.73
2.02
2.04
2.16
2.38
2.28
2.52
2.26
2.95
3
1.91
2.17
1.85
1.54
1.59
Dividend Yield %

Valuation and Quality

Jan06
Jan07
Jan08
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
TTM Fiscal Period
192048
197007
201590
184480
202286
197142
209728
231814
241440
274315
209830
203424
314683
277907
320572
396322
381436
Market Cap
224584
228258
240769
221217
237879
242316
261051
283564
295884
319888
254224
245232
357367
335356
390423
448433
422922
Enterprise Value
46.11
47.69
50.74
47.12
53.43
56.07
61.36
69.95
74.68
84.98
66.36
66.74
107
95.83
114
140
138
Month End Stock Price
-18.93
-19.91
-23.51
-23.21
-24.31
-29.82
-33.8
-35.9
-37.49
-34.99
-34.89
-37.45
-40.62
-47.96
-54.41
-54.53
-52.72
Net Cash per Share
-9.89
-10.42
-12.81
-12.57
-13.71
-17.13
-19.64
-20.16
-20.82
-18.22
-18.59
-20.78
-22.69
-29.28
-35.72
-28.89
-28.66
Net Current Asset Value
-14.63
-15.32
-18.4
-18.05
-19.17
-23.55
-26.55
-27.76
-29.01
-26.43
-26.53
-28.96
-31.77
-38.7
-44.8
-44.83
-40.39
Net-Net Working Capital
22.35
26.61
30.79
36.19
41.5
47.23
54.25
60.73
64.71
69.09
65.87
67.33
73.12
74.87
79.63
88.39
88.81
Intrinsic Value: Projected FCF
77.53
86.69
96.14
97.92
81.32
72.74
76.45
77.68
78.89
79.8
78.07
79.48
83.45
87.85
93.82
104
109
Median PS Value
35.67
41.31
41.08
39.53
36.51
39.06
42.41
46.74
44.77
32.93
--
--
--
--
--
--
-- Peter Lynch Fair Value
24.57
27.58
29.53
31.03
34.71
37.22
38.87
43.58
43.76
46.92
45.57
44.32
38.61
26.92
42.64
44.36
35.15
Graham Number
18.08
22.86
27.31
34.81
41.63
46.84
53.77
61.11
65.13
73.1
79.67
85.97
90.6
71.47
69.26
103
109
Earnings Power Value (EPV)
4.53
4.54
4.39
4.59
4.6
4.33
4.28
4.34
4.41
4.81
4.51
4.43
4.73
4.18
4.19
4.43
4.5
Altman Z-Score
5
7
7
7
7
6
4
6
5
9
5
7
6
5
5
7
7
Piotroski F-Score
-2.27
-2.71
-2.46
-2.7
-2.75
-2.48
-2.46
-2.56
-2.68
-2.77
-2.97
-2.82
-2.84
-2.48
-2.73
-2.87
-2.46
Beneish M-Score
0.71
0.67
0.69
0.62
0.65
0.67
0.68
0.66
0.64
0.62
0.61
0.6
0.61
0.64
0.66
0.56
0.55
Scaled Net Operating Assets
5.19
3.64
4.75
0.6
-0.15
2.73
4.16
1.99
2.58
-0.53
-1.09
-2.08
-4.59
1.35
-0.53
-4.95
-6.69
Sloan Ratio %
0.9
0.9
0.82
0.88
0.86
0.89
0.88
0.83
0.88
0.97
0.93
0.86
0.76
0.8
0.79
0.97
0.95
Current Ratio
0.24
0.25
0.22
0.26
0.28
0.27
0.23
0.22
0.24
0.28
0.24
0.22
0.2
0.23
0.22
0.49
0.29
Quick Ratio
0.13
0.15
0.09
0.13
0.14
0.13
0.11
0.11
0.1
0.14
0.13
0.1
0.09
0.1
0.12
0.19
0.18
Cash Ratio
13.18
11.33
10.44
10.42
11.62
11.58
11.42
12.33
11.51
11.03
9.46
9.62
8.77
9.36
7.91
9.74
12.22
Interest Coverage
53.51
51.75
51.21
63.17
55.01
57.57
61.47
77.15
81.21
90.47
87.33
74.3
110
106
121
153
153
Highest Stock Price
42.49
43.02
42.27
47.12
46.42
48
48.41
57.36
68.76
72.66
56.42
63.15
66.23
82.4
93.86
104
126
Lowest Stock Price
1.63
0.82
3.82
1.46
3.3
7.13
2.79
3.04
2.44
0.15
2.04
3.61
3.15
1.76
3.45
-0.75
1.87
Shares Buyback Ratio %
1.86
0.87
3.82
1.91
3.6
7.5
3
3.28
2.77
0.37
1.96
4.08
2.64
2.67
1.78
0.66
2.31
Buyback Yield %
11.82
12.16
10.78
10.51
2.87
9.2
11.82
7.59
4.91
3.22
0.08
4.18
6.47
5.08
4.59
7.5
5.36
YoY Rev. per Sh. Growth
11.2
1.12
15.5
8.31
9.44
20.49
1.12
11.06
-2.79
3.48
-9.5
-4.16
-25.11
-31.1
130
-8.48
-58.67
YoY EPS Growth
10.84
11.71
11.49
7.44
7.21
12.52
9.99
7.32
1.73
2.85
-6.92
1.23
-12.19
-10.56
41.34
1.72
-34.44
YoY EBITDA Growth
13.21
14.1
13.04
11.8
9.84
9.3
9.32
9.33
9.23
6.6
3.15
0.33
-1.86
-6.45
-2.88
3.83
2.5
5-Year EBITDA Growth Rate
4183
4164
4066
3939
3866
3656
3460
3374
3269
3230
3207
3101
2995
2929
2850
2831
2785
Shares Outstanding (Basic Average)
4165
4131
3973
3915
3786
3516
3418
3314
3233
3228
3162
3048
2952
2900
2800
2821
2774
Shares Outstanding (EOP)
0.43
0.16
-0.18
0.36
0.27
0.4
0.33
0.37
0.35
0.28
0.19
-0.03
0.19
0.64
0.62
0.41
0.45
Beta
03/29/06
03/27/07
03/31/08
04/01/09
03/30/10
03/30/11
03/27/12
03/26/13
03/21/14
04/01/15
03/30/16
03/31/17
03/30/18
03/28/19
03/20/20
03/19/21
  Filing Date
03/31/08
04/01/09
03/30/10
03/30/11
03/27/12
03/26/13
03/21/14
04/01/15
03/30/16
03/31/17
03/30/18
03/28/19
03/20/20
03/19/21
03/19/21
03/19/21
  Restated Filing Date
02/22/11
02/21/12
02/21/13
02/20/14
02/19/15
02/18/16
02/21/17
02/20/18
02/19/19
02/18/20
02/18/21
  Earnings Release Date
--
--
303823
298263
292983
283633
275525
263499
255758
249876
243327
236471
229858
223968
217840
214673
214673
Number of Shareholders
1800k
1900k
2100k
2100k
2100k
2100k
2200k
2200k
2200k
2200k
2300k
2300k
2300k
2200k
2200k
2300k
2300k
Number of Employees
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Dec 05, 2021
Walmart Inc (NYSE:WMT)
www.gurufocus.com/stock/NYSE:WMT

Explanation

1. Predictability Rank

GuruFocus Predictability Rank is a proprietary ranking of the consistency of a business. We rank the predictability of companies based on the consistency of their revenue per share and EBITDA (earnings before interest, tax, depreciation and amortization) per share over the past 10 fiscal years. Our study found that there is a strong correlation between the stock performance and the predictability of a business. Over the long term, companies with higher predictability also have better stock performance.

The rank is from 1-star to 5-star, with 5-star as the best.

2. Financial Strength

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

  1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
  2. Debt to revenue ratio. The lower, the better.
  3. Altman Z-Score.

The rank is from 1 to 10, with 10 as the highest.

A Financial Strength rank of 8 or above indicates good financial strength; between 4-7 indicates fair financial strength; 3 or below means poor financial strength.

3. Profitability Rank

GuruFocus Profitability Rank indicates how profitable a company is and how likely it is that the company's business will stay that way. It is based on these factors:

  1. Operating Margin %.
  2. Piotroski F-Score.
  3. Trend of the Operating Margin percentage (five-year average). A company with an uptrend in profit margin will have a higher rank.
  4. Consistency of the profitability.
  5. Predictability Rank.

The rank is from 1 to 10, with 10 as the highest.

A Profitability Rank of 8 or above indicates good profitability; between 4-7 indicates fair profitability; 3 or below means poor profitability.

4. Peter Lynch Chart

In Peter Lynch's excellent book, "One Up on Wall Street," he used many charts to illustrate the valuation of stocks. “A quick way to tell if a stock is overpriced is to compare the price line to the earnings line. If you bought familiar growth companies – such as Shoney’s, The Limited, or Marriott – when the stock price fell well below the earnings line, and sold them when the stock price rose dramatically above it, the chances are you’d do pretty well.”

The original Peter Lynch Chart does have limitations due to the right side price scale is pre-set at 15 times the earnings scale on the left side. When the stock price and earnings line coincide, the price-to-earnings ratio is always 15 times. Instead of using the fixed PE Ratio of 15, our approach is using 15-year historical median PE without NRI Ratio for each stock.

The Peter Lynch Chart with earnings line at median PE without NRI ratio works well for the companies with steady growth and earnings trends, or the stalwarts, as coined by Lynch. These companies tend to be found in sectors such as consumer staples, healthcare, and utilities, where the consumption of the product or service is relatively independent of economic conditions. It does not work well with the sectors that are cyclical: industrials, chemicals, durable goods, and so forth.

5. GF Value

Based on the relationship between the current stock price and the GF Value, GuruFocus provides the following 6 evaluations:

  1. Possible Value Trap, Think Twice
  2. Significantly Overvalued
  3. Modestly Overvalued
  4. Fairly Valued
  5. Modestly Undervalued
  6. Significantly Undervalued
There is only a sufficient margin of safety when the stock is undervalued.

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