Walmart (WMT: $153.68) up 1.0% after an upgrade this week 09 June 2023

STOCK REVIEW

www.buysellsignals.com

Walmart Inc.'s (NYSE: WMT $153.68) stock price is up 1.0% after an upgrade in the past week. It was upgraded by the analyst at Tigress Financial.

Compared with the S&P 500 Index which rose 3.6 points (0.08%) in the day, the relative price increase was 0.8%.

There were 3,100,000 shares worth $476.4 million traded today. The volume was 0.5 times the average daily trading volume of 6.7 million shares.

WALMART (WMT) Stock Dashboard [traded in US Dollars, USD] End-of-Day

ExchangeNYSE [BATS, New York]SectorBroadline Retailers
Jun 09, 2023$153.68Independent RatingsRanked 209 in Just Capital; Ranked 17 in Fortune Modern Board 25; Ranked 1 in Fortune 500; Ranked 23 in Forbes 2000
EPS (FY2022)$4.90Market Cap$414 billion
WMT P/EStock 31.4; Sector 23.1Shares Outstanding2,695,660,000
WMT Dividend Yield % (TTM)Stock 1.5; Sector 1.4Institutional Ownership912,736,657
DPS (past 12 months)$2% of shares outstanding33.9%
EPS Growth (Q1 2024 vs Q4 2022)-73.4%% Held by 21 Insiders46.5%
Ave Daily Volume6,745,945 sharesWMT in IndicesS&P 500 [of 500 stocks]
52-Week Price Range116.03 - 158.62PV$1000 (1 yr)$1,311*

*If You Invested $1,000 in Walmart a year ago, This is How Much You Would Have Today: $1,311. USD1000 would have bought 8.4 shares (@the then price of 119.1) worth $1,290 @153.68 today. Dividends reinvested are worth $21.

Financial News

Quarterly Report (Q1/2024):

Release Date: June 02, 2023

Quarterly Report Analysis Q1 2024: Walmart EPS plummets 73%

Walmart (NYSE:WMT), announced EPS of 62.0c for the quarter-ended 30 April 2023 [Q1/2024], down 73% sequentially from $2.33 in the previous quarter [Q4/2022].

Quarterly Report (Q1 2024)

Quarter-ended30 Apr [Q1/2024]31 Jan [Q4/2022]31 Oct [Q3/2023]
EPS62c$2.3-66c
Revenue, $ billion152164153
Sequential growth in Revenue %-7.27.4-0.0
Net Profit, $ billion1.76.3-1.8

Compared with the Previous Corresponding Period [PCP; Q1/2023], year-over-year [y.o.y.] EPS was down 17.3%, Revenue was up 7.6% and Net Profit was down 18.5%.

Quarter-ended30 Apr [Q1/2024]30 Apr [Q1/2023]
EPS, c6275
PCP growth in EPS %-17-23
Revenue, $ billion152142
PCP growth in Revenue %7.62.4
Net Profit, $ billion1.72.1
PCP growth in Net Profit %-18.5-24.8

SEC Form 4-Insider Selling

Wednesday June 07

Walmart (NYSE:WMT) Director S. Robson Walton sold 193,294 shares worth $29,026,535 on June 05. The selling price was $150.17. The shares hit a 17-day high on the day.

Wednesday June 07

Walmart (NYSE:WMT) Director S. Robson Walton sold 527,459 shares worth $79,140,107 on June 07. The selling price was $150.04.

Tuesday May 23

Walmart (NYSE:WMT) Director S. Robson Walton sold 455,060 shares worth $68,250,127 on May 19. The selling price was $149.98.

Tuesday May 23

Walmart (NYSE:WMT) Director S. Robson Walton sold 600 shares worth $90,012 on May 22. The selling price was $150.02. The shares hit a two-month low on the day.

Thursday May 25

Walmart (NYSE:WMT) Executive Vice President Dan Bartlett sold 6,600 shares worth $975,368 on May 23. The selling price was $147.78. The shares hit a two-month low on the day.

Please view more stories in DATA DOWNLOAD CENTER

SUBSTANTIAL SHAREHOLDER SELLING

Walmart substantial shareholder Walton Jim C sold 193,294 shares worth $29,026,535 on June 05. The price was $150.17.

DATA & ARCHIVE DOWNLOAD CENTER

WMT: EXCEL TABLES ARE AVAILABLE TO EXPORT DATA:

+ PRICE VOLUME - 5-YEAR HISTORY

+ FINANCIALS - 10-YEAR HISTORY [INCLUDING Q1/2023]:

+ INSTITUTIONAL SHAREHOLDERS - CATEGORISED AND COMPLETE LIST OF 2333 INSTITUTIONS AS AT Mar 31, 2023:

+ PEER COMPARISON - STOCK IN BROADLINE RETAILERS SECTOR AND STOCK IN INDICES

+ PATENTS - CATEGORISED LIST OF 5-YEAR HISTORY OF 5 :

WMT: LINKS IN HTML TO FURTHER INFORMATION:

+ NEWS ARCHIVES - WMT PAST 4 YEARS IN HTML:

+ STOCK BUZZ IN HTML

+ PRICE VOLUME CHARTS IN HTML

+ SEC FILINGS

+ NOTES to ACCOUNTS

INDEX

SECTION 1 THE PAST QUARTER: SEC FILINGS

SECTION 2 THE PAST QUARTER: FINANCIALS, ANALYST RATINGS, ESG

SECTION 3 THE PAST QUARTER: PRESS RELEASES AND CORPORATE WIRE

SECTION 4 THE PAST QUARTER: NEWS AND BUZZ

SECTION 5 INSTITUTIONAL OWNERSHIP UPDATED AFTER LAST SEC FILING Q1/2023 REPORTED ON MAY 18

SECTION 6 TODAY'S BULLISH SIGNALS

SECTION 7 ONGOING BULLISH PARAMETERS

SECTION 8 TODAY'S BEARISH SIGNALS

SECTION 9 ONGOING BEARISH PARAMETERS

SECTION 10 CORPORATE PROFILE AND INDEPENDENT RATINGS

SECTION 11 FINANCIALS FY 2022

SECTION 12 TAX & DIVIDEND

SECTION 13 TOP MANAGEMENT AND BOARD OF DIRECTORS

SECTION 14 INSIDER OWNERSHIP AND TRANSACTION IN THE PAST 10 YEARS

SECTION 15 FINANCIALS AS REPORTED Q1 2023-24, PAST 7 YEARS

SECTION 16 PEER COMPARISON & RANKING OF WMT

SECTION 17 PATENTS

STOCK IDENTIFIERS

GLOSSARY

SECTION 1 THE PAST QUARTER: SEC FILINGS

1.1 SEC Form 4 Filings: Insider Selling

Wed Jun 07, 2023

Walmart director S. Robson Walton sells shares worth $79.1 million

Wednesday June 07, 2023Walmart (NYSE:WMT) Director S. Robson Walton sold 527,459 shares worth $79,140,107 on June 07. The selling price was $150.04.

Thu May 25, 2023

Walmart executive vice president Dan Bartlett sells shares worth $975,368

Thursday May 25, 2023Walmart (NYSE:WMT) Executive Vice President Dan Bartlett sold 6,600 shares worth $975,368 on May 23. The selling price was $147.78. The shares hit a two-month low on the day.

Mon May 01, 2023

Walmart executive vice president John Furner sells shares worth $660,625

Monday May 01, 2023Walmart (NYSE:WMT) Executive Vice President, President and CEO and Walmart U.S. John Furner sold 4,375 shares worth $660,625 on April 27. The selling price was $151.0.

1.2 SEC Form 4 Filings: Insider Buying

Fri Mar 17, 2023

Walmart director Randall Stephenson buys shares worth $1 million

Friday March 17, 2023Walmart (NYSE:WMT) Director Randall Stephenson bought 7,245 shares worth $1,000,168 on March 15. The purchase price was $138.05. The shares hit an eight-day high on the day.

Insider Buying Summary [past quarter]

NameNo. of SharesPrice, $Value, $
Stephenson Randall L [Director]7,245138.01,000,168

Insider Selling Summary [past quarter]

NameNo. of SharesPrice, $Value, $
Walton S Robson [Director]19,659,671142.02,791,904,758
McMillon C Douglas [CEO]9,716140.11,361,407
Brand Rachel L [Executive Vice President]9,334141.81,323,880
Furner John R. [Executive Vice President]8,750145.51,273,344
Bartlett Daniel J [Executive Vice President]6,600147.8975,368
Total19,694,071142.02,796,838,757

Please view further details in SECTION 14 INSIDER OWNERSHIP AND TRANSACTION IN THE PAST 10 YEARS

SECTION 2 THE PAST QUARTER: FINANCIALS, ANALYST RATINGS, ESG

2.1 Quarterly Financials (Q1/2024)

Walmart EPS plummets 73%

Release Date: June 02, 2023

Walmart (NYSE:WMT), announced EPS of 62.0c for the quarter-ended 30 April 2023 [Q1/2024], down 73% sequentially from $2.33 in the previous quarter [Q4/2022].

Quarterly Report (Q1 2024)

Quarter-ended30 Apr [Q1/2024]31 Jan [Q4/2022]31 Oct [Q3/2023]
EPS62c$2.3-66c
Revenue, $ billion152164153
Sequential growth in Revenue %-7.27.4-0.0
Net Profit, $ billion1.76.3-1.8

Compared with the Previous Corresponding Period [PCP; Q1/2023], year-over-year [y.o.y.] EPS was down 17.3%, Revenue was up 7.6% and Net Profit was down 18.5%.

Quarter-ended30 Apr [Q1/2024]30 Apr [Q1/2023]
EPS, c6275
PCP growth in EPS %-17-23
Revenue, $ billion152142
PCP growth in Revenue %7.62.4
Net Profit, $ billion1.72.1
PCP growth in Net Profit %-18.5-24.8

2.2 Analyst Recommendations: Past 71 days

2023BrokeragePast RatingCurrent RatingPrev TargetPrice Target
Apr 19Gordon HaskettAccumulateBuy155165
Apr 05Stephens-Overweight-170
Mar 31Telsey Advisory Group-Outperform-160
Mar 30Evercore ISIIn-LineOutperform145160

Since January 6, Walmart has had thirty analyst rating changes with twenty-three being upgrades. Walmart is up 5.5% since January 6.

2.3 March 18 2022: Walmart: Risk Factors

RISK FACTORS

The risks described below could, in ways we may or may not be able to accurately predict, materially and adversely affect our business, results of operations, financial position and liquidity. Our business operations could also be affected by additional factors that apply to all companies operating in the U.S. and globally. The following risk factors do not identify all risks that we may face. Strategic Risks

Failure to successfully execute our omni-channel strategy and the cost of our investments in eCommerce and technology may materially adversely affect our market position, net sales and financial performance.

The retail business continues to rapidly evolve and consumers increasingly embrace digital shopping. As a result, the portion of total consumer expenditures with retailers and wholesale clubs occurring through digital platforms is increasing and the pace of this increase could continue to accelerate.

Our strategy, which includes investments in eCommerce, technology, talent, supply chain automation, acquisitions, joint ventures, store remodels and other customer initiatives, may not adequately or effectively allow us to continue to grow our eCommerce business, increase comparable sales, maintain or grow our overall market position or otherwise offset the impact on the growth of our business of a moderated pace of new store and club openings. The success of this strategy will depend in large measure on our ability to continue building and delivering a seamless omni-channel shopping experience and interconnected ecosystem for our customers that deepens our relationships with our customers across our various businesses and partnerships and reinforces our overall flywheel strategy. The success of this strategy is further subject to the related risks discussed in this Item 1A.

July 13 2021: 2021 ESG Reporting Details Meaningful Progress in Key Areas

Walmart has long taken a shared value, whole-system approach to environmental, social and governance (ESG) issues. Through our ESG strategies, we aim to do more than operate responsibly and mitigate business risk; we want to create value for business by better serving our customers and stakeholders and helping to transform related societal systems (e.g., food systems, workforce development systems) for more equitable and sustainable outcomes. Events of the past year - the COVID-19 pandemic, the murder of George Floyd, rising income inequality and intensifying climate and ecosystem decline - underscore the relevance of our shared value philosophy.

Source: Company Website

July 08 2021: Walmart: 2021 ESG Reporting Details Meaningful Progress in Key Areas

By Kathleen McLaughlin, Executive Vice President and Chief Sustainability Officer, Walmart Inc.; President, Walmart Foundation

Walmart has long taken a shared value, whole-system approach to environmental, social and governance (ESG) issues. Through our ESG strategies, we aim to do more than operate responsibly and mitigate business risk; we want to create value for business by better serving our customers and stakeholders and helping to transform related societal systems (e.g., food systems, workforce development systems) for more equitable and sustainable outcomes. Events of the past year - the COVID-19 pandemic, the murder of George Floyd, rising income inequality and intensifying climate and ecosystem decline - underscore the relevance of our shared value philosophy.

Source: Company Website

SECTION 3 THE PAST QUARTER: PRESS RELEASES AND CORPORATE WIRE

3.1 Creation of Shareholder Value

Mon Jun 05, 2023

Greg Penner starts ninth year as Walmart Non-Executive Chairman

Monday June 05, 2023

Greg Penner was appointed Non-Executive Chairman of Walmart (NYSE:WMT) eight years ago on June 05, 2015.

SECTION 4 THE PAST QUARTER: NEWS AND BUZZ

Source: Other Publishers

JunHeadlinePublisher
Fri 09Former Walmart CEO buys Florida waterfront mansion for $11.25 million (Photos)The Business Journals
Fri 09In an effort to cut waste, Walmart introduces new packagingStaten Island Advance
Fri 09Walmart (WMT) Receives a Hold from BernsteinBusiness Insider
Fri 09Walmart moves to cut its use of plasticNorthwest Arkansas Democrat Gazette
Thu 08Walmart Unusual Options ActivityBenzinga.com
Thu 08Leland police looking for suspect in attempted theft at WalmartWECT

Please view more Stock Buzz stories in DATA DOWNLOAD CENTER

SECTION 5 INSTITUTIONAL OWNERSHIP UPDATED AFTER LAST SEC FILING Q1/2023 REPORTED ON MAY 18

Institutional Ownership as at Mar 31, 2023

5.1 Top 5 Institutional Ownership of Walmart as at March 31, 2023

As at March 31, 2023, 2303 Institutions (Funds) held investments in shares of Walmart. Institutions increased their holdings to 33.9% of issued capital, up from 32.1% as at Dec 31. The largest shareholder was Vanguard Group Inc. with 5% of Walmart. The second largest shareholder was State Street Corporation with 4%.

*Note: Minimum Core Shareholding is computed on the basis of SEC filings over the last 12 quarters (3 years). A higher % of shareholding above the minimum core holding may be indicative of a potential positioning by an active institution to overweight.

Walmart Top 4 Active Funds (in desc order of Shares) hold 10.0% [second last column shows % above minimum core shareholding; last column shows percentile rank by AUM (Assets Under Management) among 6696 Funds]. Please download the spreadsheet to view full list of 1257 Active Funds holding 19.1% of Walmart as at March 31, 2023.

FundShares% of TotalValue $% above Core*Percentile rank
State Street Corporation (0000093751)120,779,589417.7 B101100
Blackrock Inc. (0001364742)99,856,852414.7 B15100
Geode Capital Management, LLC (0001214717)25,104,9940.93.7 B19100
Morgan Stanley (0000895421)22,736,3500.83.3 B122100
% Held by Top 4 Institutional shareholders268,477,78510.039.4 B--

Walmart Top 1 Index Funds (in desc order of Shares) hold 4.8% [second last column shows % above minimum core shareholding; last column shows percentile rank by AUM (Assets Under Management) among 6696 Funds]. Please download the spreadsheet to view full list of 1047 Index Funds holding 10.8% of Walmart as at March 31, 2023.

FundShares% of TotalValue $% above Core*Percentile rank
Vanguard Group Inc. (0000102909)130,352,422519.1 B4100
% Held by Top 1 Institutional shareholders130,352,4224.819.1 B--

5.2 Institutional ownership of WMT at Mar 31: Providence Capital Advisors top increase of 1,172,838%

As at March 31, 2023, 712 institutions or 30.5% of WMT's institutional shareholders had increased their holding of shares in Walmart from December 31. The top increase was by Providence Capital Advisors which increased its holding by 4.7 million shares, or 1,172,838.3% to 4.8 million shares.

Top 5 Increases [March 31, 2023 vs December 31, 2022]

Value is shown in the table below at March 31 WMT share price of $146.89.

Institution (CIK)SharesValue, $% increase
Providence Capital Advisors, LLC (0001730814)4,749,995675.8 M1,172,838.3
Natixis (0001274981)37,9785.4 M19,180.8
True Wealth Design, LLC (0001966033)2,409342,73010,950.0
Sageworth Trust Co (0001482688)16924,0442,414.3
TFO-TDC, LLC (0001698750)446,2602,200.0
Total4,790,595681.6 million-

5.3 Institutional ownership of WMT at March 31, 2023: Providence Capital Advisors, LLC top increase by worth

Top 5 Increases by worth [March 31, 2023 vs December 31, 2022]

Value is shown in the table below at March 31 WMT share price of $146.89.

Institution (CIK)SharesWorth Change, $
Providence Capital Advisors, LLC (0001730814)4,749,995675.8 M
Jane Street Group, LLC (0001595888)1,792,065255 M
Bank of America Corp, DE (0000070858)1,431,646203.7 M
Assenagon Asset Management S.A. (0001546007)684,70997.4 M
Fisher Asset Management, LLC (0000850529)270,76138.5 M
Total8,929,1761.3 billion

5.4 Institutional ownership of WMT at Mar 31: Parallax Volatility Advisers top decrease of 100%

687 Institutional shareholders decreased their holdings in Q1/2023. The top decrease was Parallax Volatility Advisers who reduced their shareholding in Walmart by 141,837 shares (99.9%) from 141,927 as at December 31 to 90 as at March 31.

Top 5 Decreases [March 31, 2023 vs December 31, 2022]

Value is shown in the table below at March 31 WMT share price of $146.89.

Institution (CIK)SharesValue, $% Decreases
Parallax Volatility Advisers, LP (0001521001)141,837(20.2 M)-99.9
Washington Trust (0001079736)107,219(15.3 M)-99.9
Kozak & Associates, Inc. (0001764970)737(104,854)-98.7
AllGen Financial Advisors, Inc. (0001964809)754,617(107.4 M)-97.9
Sheets Smith Wealth Management (0001157436)4,550(647,332)-96.9
Total1,008,960(143.5 million)-

5.5 Institutional ownership of WMT at Mar 31: Skye Global Management top new shareholder

An analysis conducted after the mid - quarter deadline of May 14 for Q1 SEC filings by 6646 institutions shows that there were 5 new institutional shareholders. Skye Global Management (1675884) was the largest new shareholder with 406,000 shares valued at $59.6 million as at March 31.

Top 5 New shareholders as at March 31, 2023

Value is shown at price of March 31, 2023 (in desc order of Shares)

Value is shown in the table below at March 31 WMT share price of $146.89.

Institution (CIK)SharesValue, $
Skye Global Management LP (0001675884)406,00059.6 M
Legacy Capital Wealth Partners, LLC (0001766228)115,34716.9 M
Empyrean Capital Partners, LP (0001317195)100,00014.7 M
VGI Partners Pty Ltd (0001577774)92,79513.6 M
Ontario Teachers Pension Plan Board (0000937567)45,3826.7 M
Total759,524111.6 million

5.6 Institutional ownership of WMT at Mar 31: Norges Bank top exit

An analysis conducted after the mid - quarter deadline of May 14 for 20231 SEC filings by 6646 institutions shows that there were 5 exits. Norges Bank was the largest exit with 18,328,064 shares valued at 2.6 B as at March 31.

Institution (CIK)SharesValue, $
Norges Bank (0001374170)18,328,0642.6 B
Putnam Investments LLC (0001421578)8,386,4581.2 B
Bank of Montreal, CAN (0000927971)3,613,924508.4 M
Capital World Investors (0001422849)976,298137.3 M
Personal Capital Advisors Corp (0001571669)787,796110.8 M
Total32,092,5404.5 billion

Please view detailed Institutional Shareholders - Categorised and Complete List in DATA & ARCHIVE DOWNLOAD CENTER

SECTION 6 TODAY'S BULLISH SIGNALS

6.1 Relative Value Indicators: Undervaluation compared with sector averages

SectorP/EDividend Yield %
Fortune Modern Board 25Stock: 31.4; Sector: 33.4Stock: 1.5; Sector: 0.4undervalued
Forbes 2000Stock: 1.5; Sector: 1.0undervalued
Fortune 500Stock: 1.5; Sector: 0.5undervalued
Top 50 BCGStock: 1.5; Sector: 0.4undervalued
Just CapitalStock: 1.5; Sector: 0.5undervalued

6.2 PAST WEEK: WEAK MOMENTUM UP - WMT increases 3.3% on volume 0.8 times average

Week 23 of 2023: Up 3.3%; Walmart (WMT) outperformed the S&P 500 Index in 3 out of 5 days. The price ranged between a low of $148.82 on Friday Jun 02 and a high of $153.68 on Friday Jun 09.

JunWalmartClose [$]Change %RPC % *Comment
Fri 02Offers earnings yield of 2.9%148.821.0-0.5Week-low of 148.82
Mon 05Rises in 4 out of last 5 days; 5-day rise of 2.6%149.80.70.9Price/MAP200 above 1 and rising
Tue 06Offers earnings yield of 2.9%149.78-0.01-0.3Steepest Fall
Thu 08Adds $6 billion (1.4%) in MCap, top heavyweight rise in Broadline retailers sector152.171.40.8Top Rise
Fri 09Up 1.0% after an upgrade this week153.681.00.8Week-high of 153.68

* RPC - Relative Price Change is % price change of stock less % change of the S&P 500 Index.

6.3 Rank in the top 24% by Relative Valuation in the NYSE market

DescriptionValueRank
EV/EBITDA25.7In Top 8%
Price to Sales0.7In Top 24%

6.4 Rank in the top 20% by Price Performance in the NYSE market

DescriptionValueRank
PV1000 [1 yr] $1,311In Top 20%

6.5 Uptrend

Price/Moving Average Price of 1.08 and positive MACD:

- The Price/MAP 200 for Walmart is 1.08. Being higher than 1 is a bullish indicator. The stock is trading above both its MAPs and the 50-day MAP of $149.80 is higher than the 200-day MAP of $142.03, a second bullish indicator. The 200-day MAP has increased to $142.03, a third bullish indicator.

- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 150.03 minus the 26-day EMA of 149.59 is positive, suggesting a bullish signal. Both the 12-day EMA as well as the 26-day EMA are rising, another bullish signal.

Past Quarter:

- The shares had their best quarter in three quarters since the quarter ended September 09, 2022.

The Best 3 weeks in the past quarter

In the past quarter the week beginning Monday March 27 saw the highest weekly rise of 4% for a relative price increase of 0.5%.

Mon-FriChange %S&P 500 Index Change %Vol Ind [1 is avg]
Mar 27-3143.51
Jun 05-093.30.30.8
Mar 13-172.21.41.4

6.6 Other Bullish Signals

MCap/Total Assets:

- Tobin's Q Ratio, defined as MCap divided by Total Assets, is 1.7. Compared with the rest of the market the stock is undervalued.

SECTION 7 ONGOING BULLISH PARAMETERS

7.1 Rank in the top 3% by Size in the NYSE market

DescriptionValueRank
Annual Revenue$572.8 billionIn Top 1%
MCap$414 billionIn Top 3%
Ave daily Turnover$476.4 millionIn Top 3%

7.2 Present Value of $1000 Invested in the Past [3 Mo, 1 Yr, 3 Yrs]; The Best Periods with PV$1000 > 1,137

PV$1,0003 mo ago1 yr ago3 yrs ago
WMT.NYSE$1,138$1,311$1,394
Broadline Retailers sector$1,048$1,138$1,225
S&P 500 Index$1,103$1,070$1,340

7.3 The Best Periods [3 Mo, 1 Yr] with Price Change % > 12.8

1-Year price change of 29% for Walmart outperformed the change of 4.4% in the S&P 500 Index for a relative price change of 24.6%.

Price Change %QuarterYear
Walmart12.929
Broadline Retailers sector4.812.1
S&P 500 Index11.34.4

7.4 Stock vs Index (Annual Percentage Change)

December 31Last price in USD Annual ReturnReturn of S&P 500 Index
2022141.8-0.5-19.4
2021142.52.026.9
2020139.723.316.3
2019113.330.228.9
201887.0--

Over 5 years Walmart is up a total 62.9% at an annualized rate of 13.0% compared to the Index being up 53.2% at an annualized rate of 11.2%.

Walmart has outperformed the S&P 500 Index in 2 of the past 5

years: 2020, 2019.

7.5 Moving Annual Return of 30.9% in the past year:

Moving Annual Return was 30.9% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged 17.7%. The Moving Annual Return has been positive in 4 of the last 5 years.

WMTClose ($)Dividends ($)Capital Gain / (Loss) %% YieldAnnual Return %
Jun 09153.682.26291.930.9
1 Yr ago119.12.22(12.1)1.6(10.5)
2 Yrs ago135.542.1817.21.919.1
3 Yrs ago115.672.1416.42.218.6
4 Yrs ago99.372.127.82.730.5

Close 5 years ago $77.77

7.6 MCap: 5-Year Increase of $165 B (66%)

In the past 5 years Market Capitalization has increased by $165.3 billion (66%) from $248.9 billion to $414.3 billion. Based on a dynamic start date of 5 years ago, there has been only 1 decline in MCap over the last 5 years.

PriceMCap ($ B)
Last$153.68414.3
1 Year ago$119.10331.6
2 Years ago$135.54395.9
3 Years ago$115.67343.3
4 Years ago$99.37304.4
5 Years ago$77.77248.9

7.7 Buybacks and 5-Years Decrease of 10% in Total Shares on Issue

In the past 5 years total shares on issue have decreased by 309 million (10%) from 3.1 billion to 2.8 billion. Buybacks have averaged 69.2 million shares [2.2%] per financial year. Based on a dynamic start date of 5 years ago, there has been no rise in issued capital over the last 5 years. A reduction in total shares on issue is a favourable indicator in Joseph Piotroski's 9 indicators.

Year End (Jan 31)Total Shares on IssueFYBuybacksBuyback %
20222,792,000,000202239,000,0001.4%
20212,831,000,000202119,000,0000.7%
20202,850,000,000202080,000,0002.7%
20192,930,000,000201965,000,0002.2%
20182,995,000,0002018106,000,0003.4%
20173,101,000,0002017106,000,0003.3%
Total415,000,000
Average per FY69,166,667

7.8 Annualised Period-based Total Shareholder Returns [TSR %]: The Best Periods with TSR > 7.7%

TSR %1 yr3 yrs5 yrs10 yrs20 yrs30 yrs
WMT.NYSE31.111.616.710.47.810

7.9 Increased VWAP, up 56% in 5 years

In the past five years Volume Weighted Average Price (VWAP) has increased by 55.6% to $137.79.

Past five years, 12 months ended Jun 09 (USD)

YearHigh PriceVWAPLow Price
2023158.62137.79116.03
2022157.65138.0115.41
2021147.21132.38111.64
2020126.7111.1196.46
201999.6588.5775.94

7.10 Increased share turnover, up 36% in 5 years

In the past five years, average daily share turnover has increased 36.0% to $929.5 million. This suggests increased liquidity.

Past five years, 12 months ended Jun 09 (USD million)

YearAverage Daily Turnover
2023929.5
20221171.1
20211181.7
2020789.4
2019683.6

7.11 Quarterly Trend in Revenue and Net Profit Margin:

- Revenue growth and Net Profit margin have shown signs of recovery in recent quarters. [All figures in %]

Qtr-endedRevenue GrowthNet Profit Margin
Jan 23 [Q4 vs Q3]7.43.5
Oct 22 [Q3 vs Q2]-0-1.2

SECTION 8 TODAY'S BEARISH SIGNALS

8.1 Relative Value Indicators: Overvaluation compared with sector averages

Price/Earnings of 31.4 > Broadline Retailers sector (of 6 stocks) avg of 23.1:

- The price-to-earnings ratio of 31.4 indicates overvaluation compared with sector average of 23.1 and market average of 21.1.

8.2 Relative Value Indicators: Overvaluation compared with Index averages and bond yield

- Earnings yield of 3.2% is less attractive compared with the NYSE average earning yield of 4.7%.

- The earnings yield of 3.2% is below the 10-year bond yield of 3.8%.

(All figures in %)

Earnings Yield3.2
NYSE avg4.7
Dividend Yield1.5
Bond Yield3.8

SectorP/E
Forbes 2000Stock: 31.4; Sector: 15.3overvalued
Fortune 500Stock: 31.4; Sector: 21.9overvalued
Top 50 BCGStock: 31.4; Sector: 23.7overvalued
Just CapitalStock: 31.4; Sector: 24.1overvalued

8.3 Rank in the bottom 23% by Relative Valuation in the NYSE market

DescriptionValueRank
Price/Earnings31.4In Bottom 23%
Price to Book Value9.2In Bottom 11%
P/E * P/NTA290.08In Bottom 6%

8.4 Other Bearish Signals

- Return on Equity of 15.2% versus sector average of 22.6%.

- Total Liabilities/EBITDA of 8.2 is more than 5, this compares unfavourably with the Joseph Piotroski benchmark of 5.

- Return on Assets of 5.7% versus sector average of 6.8%.

- Return on Capital Employed of 11.9% versus sector average of 14.1%.

- Net profit margin has averaged 2.6% in the last 3 years. This suggests the company is less profitable with a low margin of safety.

- As per the Du Pont analysis, Return on Equity of 15.2% is lower than sector average of 22.6%. This is computed as net profit margin of 2.4% times asset turnover [sales/assets] of 2.3 times leverage factor [total assets/shareholders' equity] of 2.7.

8.5 Overbought/Bearish Signals:

- The stock is overbought according to the Williams % R indicator of -0.3, suggesting the price is close to its 14-day high of $153.71.

SECTION 9 ONGOING BEARISH PARAMETERS

9.1 Rank in the bottom 4% by Growth in the NYSE market

DescriptionValueRank
EPS Growth %2.7In Bottom 4%

9.2 Rank in the bottom 8% by Performance in the NYSE market

DescriptionValueRank
Net Profit Margin %2.4In Bottom 8%
EBITDA Margin %3.3In Bottom 7%

9.3 P/E/G > 1

The price earnings ratio of 31.4 divided by trailing twelve months eps growth of 2.7% corresponds to P/E/G of 11.5 times.

EPS Growth (%)2.73
P/E/G11.51
P/E31.36

9.4 % Growth in EPS & RPS

EPS growth: Sequential EPS growth (Q1 2024 vs Q4 2022) was down 73.4% and PCP EPS growth (Q1 2024 vs Q1 2023) was down 17.3%. FY EPS growth (FY2022 vs FY2021) was up 2.7%.

RPS growth: Sequential growth in Revenue per share (Q1 2024 vs Q4 2022) was down 6.9% and PCP growth in Revenue per share (Q1 2024 vs Q1 2023) was up 10.4%. FY growth in Revenue per share (FY2022 vs FY2021) was up 4.0%.

(All figures in %)

Sequential growth in EPS (Q1 2024 vs Q4 2022)-73.4
Sequential growth in RPS (Q1 2024 vs Q4 2022)-6.9
PCP growth in EPS (Q1 2024 vs Q1 2023)-17.3
PCP growth in RPS (Q1 2024 vs Q1 2023)10.4
FY growth in EPS (FY2022 vs FY2021)2.7
FY growth in RPS (FY2022 vs FY2021)4.0

9.5 A 10.0% Increase in Insider Selling

In the past 5 years a total of 124,256,716 Walmart shares (or 4.6% of the total shares on issue) worth $15.6 billion were sold by insiders. Based on a dynamic start date of 5 years ago, insider selling has averaged 24,851,343 shares per year. In the past year, insiders sold 33,239,207 shares, an increase of 10.0% from the previous year.

YearNo. of SharesValue, $
Jun 09, 202333,239,2074,772,537,439
1 Yr ago30,216,1644,254,309,459
2 Yrs ago15,369,3252,196,969,216
3 Yrs ago612,31173,310,010
4 Yrs ago44,819,7094,302,448,434
Total124,256,71615,599,574,559

9.6 Declining Volume, down 13% in 5 years

In the past five years, Average Daily Volume of Trading (ADVT) has decreased 12.6% to 6.7 million shares.

Avg. Daily Volume Traded 12 months ended Jun 09, million shares

YearADVT
20236.7
20228.4
20218.9
20207.0
20197.7

9.7 Satisfies 3 out of 9 criteria of Joseph Piotroski [pass mark 5]:

- Return on Assets improvement [from 5.4% to 5.7%].

- Reduction in total shares on issue.

- Improvement in gross margin [from 24.8% to 25.1%].

But does not meet the following 6 criteria of Joseph Piotroski:

- Improvement in long-term debt to total assets.

- Improvement in current ratio.

- Improvement in asset turnover.

SECTION 10 CORPORATE PROFILE AND INDEPENDENT RATINGS

10.1 Activities

Walmart Inc., previously Wal-Mart Stores, Inc. (Wal-Mart) operates retail stores in various formats around the world. The Company earns the trust of its customers every day by providing an assortment of merchandise and services at every day low prices (EDLP), while fostering a culture that rewards and embraces mutual respect, integrity and diversity. Wal-Mart's operations comprise three business segments: Wal-Mart Stores, Sam's Club and International. Its Wal-Mart Stores segment is the largest segment of the Company's business, and operates stores in three different formats in the United States, as well as Wal-Mart's online retail operations, walmart.com. Its Sam's Club segment consists of membership warehouse clubs in the United States and the segment's online retail operations, samsclub.com. In January 2009, it acquired 57% of D&S SA. It is the NYSE's largest Broadline retailer by market capitalisation.

10.2 Independent Ratings and Relative Value Indicators

+ Fortune 500:

Walmart Inc. is a new entrant in the Fortune list of Top 500 Global companies by Revenues in 2022, ranked 1.

+ Just Capital:

It was ranked 209 in the Just Capital annual list of top 100 ESG stocks for 2022; it was ranked 10 in the Retail sector.

+ Top 50 BCG:

It was ranked 23 in Boston Consulting Group's list of Top 50 Most Innovative Companies 2021; a deterioration over a year from rank 13 in 2020.

+ Carbon Disclosure Project (CDP):

It is one of 181 companies selected by the Carbon Disclosure Project (CDP) in their A List 2019. The CDP names the world's most pioneering companies leading on environmental transparency and performance.

+ Newsweek 500:

It was ranked 280 by Newsweek and Corporate Knights Capital in the World's 500 Greenest Companies 2016. It had outstanding scores of 6.4% in Carbon productivity.

+ PwC 100:

It was ranked 12 by MCap as at March 31, 2015 by PwC in the Top 100 Global companies; a deterioration over 6 years from rank 3 as at March 31, 2009.

+ Fortune's Change of the World list 50:

It was ranked 4 out of 50 companies in the Fortune's Change of the World list 2015.

10.3 Contact Details

Websitehttp://www.walmart.com
Physical Address702 South West 8th Street,Bentonville,AR,72716
Phone+1 479 273-4000
Fax+1 479 277-1830
Emailinvrela@wal-mart.com

10.4 U.S. Industry & Sector [of 84 stocks]

Classification LevelName of Sector
Economic SectorConsumer Non-Cyclicals
Business SectorFood & Drug Retailing
Industry GroupFood & Drug Retailing
IndustryFood Retail & Distribution

10.5 North American Industry Classification System [NAICS]

Code: 445110

Industry Title: Supermarkets and Other Grocery (except Convenience) Stores

SECTION 11 FINANCIALS FY 2022

11.1 WMT Financials Summary: EPS up 2.7% to $4.90 in FY2022 [ y.e. 31 Jan 2022]

+ Net profit was up 1.2% from $13.5 billion in FY2021 to $13.7 billion in FY2022.

+ Earnings Per Share (EPS) was up 2.7% from $4.77 in FY2021 to $4.90 in FY2022.

Year ended JanFY2022FY2021FY2020
Sales ($ B)572.8559.2524
Pretax ($ B)18.720.620.1
Net ($ B)13.713.514.9
EPS ($)4.94.775.22

11.2 Financials, FY 2022 [year-ended 31 January 2022 ]

Walmart Net Profit up 1.2%

Release Date: March 18, 2022

Walmart (NYSE:WMT) reported net profit for the year-ended 31 January 2022 [FY2022] of $13.7b, up 1.2% from $13.5b in the previous year [FY2021]. Earnings per share (EPS) were up 2.7% from $4.77 in FY2021 to $4.9 in FY2022.

11.3 Annual growth in Revenue, Net Profit and EPS

Year-ended31 January [FY/2022]31 January [FY/2021]
Revenue, $ Billion573559
Growth in Revenue %2.46.7
Net Profit, $ Billion13.713.5
Growth in Net Profit %1.2-9.2
EPS, $4.94.77
Growth in EPS %2.7-8.6

Major changes compared with previous year (FY2022 vs FY2021):

Favourable Changes:

- Total revenue up 2.4% from $559.2b to $572.8b

- EPS up 2.7% from $4.77 to $4.9

- Total revenue to total assets up from 2.2 to 2.3

- Debt to Equity down 13.9% from 0.7 to 0.6

- Total liabilities to Total assets down 4.6% from 0.7 to 0.6

Unfavourable Changes:

- EBIT Margin down from 3.7% to 3.3%

- EBIT to total assets down from 8.1% to 7.6%

- Profit before tax to Sales down from 3.7% to 3.3%

- Current ratio down 4.1% from 1.0 to 0.9

- Total current assets to Total Assets down from 35.7% to 33.1%

Year-on-year comparison of Performance Ratios [FY2022 vs FY2021]

January 31FY2022FY2021Change (%)
Return on Equity (%)15.215.7Down 3.2
Return on Assets (%)5.75.4Up 5.6
Total debt to net tangible assets (%)128154.6Down 17.2
Debt/Equity0.60.7Down 13.9
Common Size Ratios by Assets %
Current Debtors to Total Assets 3.4 2.6 Up 31.8

Three-year record of growth and performance:

In the last 3 years Total Revenue averaged $552B, EBITDA averaged $19.8B and Net Profit averaged $14B. Compound Annual Growth Rate (CAGR) averaged 3.6% for Total Revenue, 27.0% for Net Profit and 17.7% for EBITDA.

DescriptionAnnual ($ B)3-year Avg ($ B)3-year CAGR %
Total Revenue572.85523.6
EBITDA18.719.817.7
Operating Profit18.719.817.7
Net Profit13.71427

Three-year record of EBITDA, Operating Profit, Net Profit, ROE, ROA and ROCE

In 2022 Net Profit Margin of 2.5% was below its 3-year Avg of 2.6% (All Figures in %)

Description20223-year Avg
EBITDA Margin3.33.6
Operating Profit Margin3.33.6
Net Profit Margin2.52.6
Return on Equity15.216.5
Return on Assets5.75.8
Return on Capital Employed11.912.5

SECTION 12 TAX & DIVIDEND

12.1 Average Income Tax Paid (Past 5 Years)

In the past 5 years, Income Tax as % of profit before tax decreased from 30.4% to 25.4% and Income Tax as % of operating cash flow decreased from 30.4% to 25.4%.

Description202220212020201920185-yr avg10-yr avg
As % of profit before tax25.433.324.437.430.430.230.8
As % of operating cash flow25.433.324.437.430.430.227.7

12.2 Dividend History

In the past 5 years annual dividends have increased by 16.0c from 210.0c to 226.0c. Based on a start date of 5 years ago, there has been no decline in dividends over the last 5 years.

Date PaidValue (c)Type
04 May 202357Quarterly
16 Mar 202357Quarterly
08 Dec 202256Quarterly
11 Aug 202256Quarterly
Tr 12 Months226
2021 - 2022222
2020 - 2021218
2019 - 2020214
2018 - 2019210

SECTION 13 TOP MANAGEMENT AND BOARD OF DIRECTORS

13.1 Top Management

Top Management [Eleven top executives with tenure > 5 yrs]

NameDesignationSince Appointment
Doug McMillonChief Executive Officer, President, Director9 Yrs, 5 Mos
Greg PennerNon-Executive Chairman, Director8 Yrs
Rachel BrandExecutive Vice President, Corporate Secretary, Chief Legal Officer, Global Governance5 Yrs, 3 Mos
Rainey John DChief Financial Officer, Executive Vice President-
Judith McKennaExecutive Vice President, CEO-Walmart International, President-Walmart International-
Suresh KumarExecutive Vice President, Chief Technology Officer, Chief Development Officer-
Dan BartlettExecutive Vice President-
Kathryn J McLayExecutive Vice President-
Donna MorrisExecutive Vice President, Chief People Officer-
John FurnerExecutive Vice President, President and CEO, Walmart U.S.-
David M. ChojnowskiSenior Vice President, Controller-

13.2 Board Of Directors

Board Of Directors

NameDesignation
Carla A. HarrisDirector
S. Robson WaltonDirector
Timothy P. FlynnDirector
Marissa A. MayerDirector
Randall StephensonDirector
Steven S. ReinemundDirector
Sarah J. FriarIndependent Director
Cesar CondeIndependent Director
Steuart L. WaltonIndependent Director
Thomas W. HortonLead Independent Director

13.3 Independent Ratings of Directors

+ S. Robson Walton- Forbes Billionaires Ranking:

S. Robson Walton was ranked 19 in the Forbes Billionaires list in the world for 2022, unchanged from the same rank 19 in 2021.According to Forbes, S. Robson Walton's net worth had increased by (9.2%) $5.5 billion to $65 billion in 2022.

13.4 Profiles of Top Management

Doug McMillon

CEO & President & Director

Under Doug's leadership, Walmart is making life easier for busy families and building trust with customers. It is investing heavily in associate wages, benefits and education-including a debt-free, dollar-a-day college program and an expanded parental leave policy. And, it launched an ambitious program, Project Gigaton, to combat climate change and work with suppliers to avoid 1 billion metric tons of emissions worldwide.

Doug is a longtime champion of Walmart's customers, its associates and the company's culture. He was named president and CEO in 2014. From 2009 to 2014 he was president and CEO of Walmart International, and from 2005 to 2009 he served as president and CEO of Sam's Club. He has worked at Walmart for nearly 30 years, starting as a teenager unloading trucks for an hourly wage. He went on to serve in senior leadership roles in all of Walmart's business segments. He remains a merchant at heart.

Doug is the chairman of the Business Roundtable, an association of chief executive officers of America's leading companies. He serves on the boards of directors of the Consumer Goods Forum, the U.S.-China Business Council and Crystal Bridges Museum of American Art. He also sits on the American Workforce Policy Advisory Board and the advisory board of the Tsinghua University School of Economics and Management in Beijing, China.

Originally from Jonesboro, Arkansas, Doug graduated from the University of Arkansas with a bachelor's degree in business administration, and a master's degree in business administration from the University of Tulsa.

Shareholder Value:

Creation of shareholder value in Walmart:

Year of appointment: 2014

In the last 5 years the average annualized return to shareholders was 16.7%. The present value of $1,000 (PV1000) invested 5 years ago is now $2,164, a gain of $976 and dividend reinvested of $188.

Greg Penner

Non-Executive Chairman & Director

Greg Penner is founder and general partner of Madrone Capital Partners, an investment management firm located in Menlo Park, Calif. Elected as chairman of the Walmart Board of Directors in 2015, Penner is only the third person to serve in the position, following his father-in-law, Rob Walton, and company founder Sam Walton.

Over a 20-year period, Penner has worked with Walmart in a number of capacities, including as senior vice president and chief financial officer in Japan and senior vice president of finance and strategy for walmart.com. He was first elected to the Walmart board in 2008 and has served as a member on the Strategic Planning & Finance Committee and as chairman of the Technology & eCommerce Committee.

Previously, Penner also worked as a financial analyst at Goldman Sachs Group, Inc., and as a general partner of Peninsula Capital. Penner has been a member of the board of directors of Baidu, Inc., since 2004 and previously served on the board of directors of Hyatt Hotels Corporation from 2007 to 2014.

Penner earned a B.S. in International Economics from Georgetown University in 1992 and an MBA from the Stanford Graduate School of Business in 1997.

Shareholder Value:

Creation of shareholder value in Walmart:

Date of appointment: June 05, 2015

In the last 5 years the average annualized return to shareholders was 16.7%. The present value of $1,000 (PV1000) invested 5 years ago is now $2,164, a gain of $976 and dividend reinvested of $188.

John Furner

Executive Vice President

John Furner serves as president and chief executive officer of Walmart U.S., where he is responsible for the strategic direction and performance of more than 4,700 stores and more than 1 million associates.

From 2017-2019, John served as president and chief executive officer of Sam's Club. During his time as CEO, Sam's Club had 11 consecutive quarters of positive sales comps, while increasing memberships.

John started with Walmart as an hourly associate in 1993, at Store 100 in Bentonville, Arkansas. He has held important roles throughout the company, including assistant store manager, store manager, district manager, buyer, regional general manager, divisional merchandising manager, VP of global sourcing, general merchandise manager, head of marketing and merchandising for Walmart China based in Shenzhen, and chief merchant for Sam's Club.

He serves on the boards of directors for the Congressional Medal of Honor Foundation and National Retail Federation.

John has a bachelor of science in marketing management from the University of Arkansas.

Dan Bartlett

Executive Vice President

Dan Bartlett is executive vice president of corporate affairs for Walmart. He is responsible for government relations and public policy, corporate communications, philanthropy and the company's social responsibility and sustainability initiatives.

Before joining Walmart, Dan was president and chief executive officer of the U.S. division of Hill+Knowlton Strategies, where he served as a strategic advisor to business leaders representing key sectors of the American and global economy.

Prior to Hill+Knowlton Strategies, Dan served as president and CEO of Public Strategies, Inc. Previously, he served in several high-ranking positions at the White House, completing his service as counselor to President George W. Bush in July 2007. As one of President Bush's most trusted advisors, he was responsible for all aspects of communications for the president and his administration, including the White House press office, speechwriting and office of communications. Dan also played key roles in George W. Bush's presidential and Texas gubernatorial campaigns.

Donna Morris

Executive Vice President

Donna Morris is executive vice president and chief people officer for Walmart Inc. A member of the executive committee, Donna is responsible for attracting, retaining and developing talent for one of the world's largest private employers.

Donna has nearly 20 years of leadership experience in delivering innovative people solutions, developing and managing teams that operate in an agile way, and helping to build a high-performance culture that promotes diversity and inclusion. Donna joined Walmart from Adobe, where she served as chief human resources officer and executive vice president of employee experience.

A native of Ottawa, Canada, Donna joined Adobe in 2002 and most recently led all aspects of the company's human resources, real estate and security operations. She led a number of workplace-friendly initiatives at Adobe, including expanding its family leave policy and simplifying standard HR processes.

Donna has a bachelor of arts degree in political science from Carleton University. Donna holds the Society for Human Resource Management - Senior Certified Professional (SHRM-SCP), Senior HR Professional (SHRP) and Canadian Certified Human Resources Professional (CHRP) designations. She also serves on the board of directors of Marvell Technology.

Judith McKenna

Executive Vice President

Judith McKenna is president and chief executive officer of Walmart International, a fast-growing segment of Walmarts overall operations. She leads more than 6,200 retail units and 777,000 associates across 27 countries.Prior to being named president and CEO of Walmart International, Judith served as executive vice president and chief operating officer for Walmart U.S. She led the companys 1.5 million associates and operations for its 4,600 U.S. stores. Her passion for teaching and training led to the development of the Walmart U.S. Academy Stores program, which trained a quarter of a million people in its first year. Under her tenure, Judith launched Online Grocery Pickup in more than 1,100 U.S. stores and oversaw the integration of technology and processes in the business.

David M. Chojnowski

Senior Vice President

David Chojnowski is senior vice president and controller of Wal-Mart Stores, Inc. (Walmart). As the corporation's principal accounting officer, Dave is responsible for financial reporting, internal controls and accounting policy across Walmart's global operations.

Dave joined Walmart in 2011 as vice president and controller for Walmart International, where he led finance transformation efforts across the company's international business. In 2014, Dave became vice president and controller for Walmart U.S. and was promoted to his current position in January 2017.

Prior to joining Walmart, Dave served as senior vice president, corporate controller and chief accounting officer at Burger King Corp., where he oversaw the company's worldwide accounting and controls, SEC reporting and financial planning and analysis. Prior to Burger King, he held a number of financial leadership roles at General Motors Corp. He also worked as an auditor at Deloitte.

Dave is a member of Financial Executives International and the American Institute of Certified Public Accountants. He also serves as vice chairman of the board of directors for the Northwest Arkansas Food Bank.

Dave earned a master of business administration from the Ross School of Business at the University of Michigan and is a certified public accountant.

13.5 Profiles of Board of Directors

Randall Stephenson

Director

Randall retired in January of 2021 as Executive Chairman of the Board of AT&T Inc. Prior to that he was Chairman of the Board and Chief Executive Officer of AT&T and served in that capacity from 2007 until July 2020, having also served as President from 2007 through September 2019. He held a variety of high-level finance, operational and marketing positions with AT&T, including serving as Chief Operating Officer from 2004 until his appointment as Chief Executive Officer in 2007 and as Chief Financial Officer from 2001 to 2004. He began his career with AT&T in 1982.

Randall received his B.S. in accounting from Central State University (now known as the University of Central Oklahoma) and earned his Master of Accountancy degree from the University of Oklahoma. He has served on the board of directors of Boys Scouts of America since 2005, including as chairman of the board from 2016 to 2018, and the PGA Tour since 2012. He was chairman of the Business Roundtable from 2014 to 2016.

Carla A. Harris

Director

Joined the Board: 2017 Committees: Compensation and Management Development; Strategic Planning and Finance

Carla is the Vice Chair, Wealth Management for Morgan Stanley and the Managing Director and Senior Client Advisor. In these roles, she is responsible for increasing client connectivity to enhance revenue generation across the firm. Carla joined the mergers and acquisitions team at Morgan Stanley in 1987 and during her tenure has held a number of positions. Her experiences at Morgan Stanley range from investment banking, equity capital markets, equity private placements, and initial public offerings in a number of industries such as technology, media, retail, telecommunications, transportation, healthcare and biotechnology.

In August 2013, President Obama appointed Carla to serve as Chair of the National Women's Business Council. She currently serves on the boards of several non-profit organizations including Sponsors for Educational Opportunity and the Morgan Stanley Foundation. Carla also serves on the Board of Overseers of Harvard University.

Timothy P. Flynn

Director

Joined the Board: 2012 Committee: Audit (Chair); Strategic Planning and Finance

Tim was chairman of KPMG International from 2007 until his retirement in October 2011. He also served as chairman from 2005 to 2010 and chief executive officer from 2005 to 2008 of KPMG LLP, the U.S. and largest member firm of KPMG International.

Tim serves as a member of the board of directors of JPMorgan Chase & Co., United Healthcare, and Alcoa Corporation. He is also a member of the board of trustees of the University of St. Thomas, St. Paul, Minn. He has previously served as a member of the board of directors of the Chubb Corporation from 2013 until the acquisition of the Chubb Corporation by ACE Limited in January 2016. He also served as a trustee of the Financial Accounting Standards Board, a member of the World Economic Forum's International Business Council, and was a founding member of The Prince of Wales' International Integrated Reporting Committee.

Marissa A. Mayer

Director

Joined the Board: 2012 Committees: Compensation and Management Development; Technology and eCommerce

Marissa is the former president and CEO of Yahoo! From July 2012 to June 2017, Ms. Mayer led Yahoo!'s focus as a guide to digital information discovery and has helmed Yahoo!'s digital advertising strategy. Under her leadership, Yahoo! grew to serve over 1 billion users worldwide, with over 600 million mobile users. Prior to joining Yahoo! Ms. Mayer spent 13 years at Google Inc., where she led various initiatives such as Google Maps, Gmail and Google News.

She has a bachelor's degree in symbolic systems and a master's degree in computer science from Stanford University. She served on the board of Yahoo! from 2012 to 2017, and from 2013 to 2016 she served on the board of AliphCom, which operates as Jawbone. She also serves on the boards of the San Francisco Museum of Modern Art and the San Francisco Ballet, and on the foundation board for the Forum of Young Global Leaders at the World Economic Forum.

S. Robson Walton

Director

Joined the Board: 1978 Committees: Executive; Global Compensation; Strategic Planning and Finance

Son of Walmart founder, Sam Walton, Rob Walton served as Walmart's chairman of the board of directors from 1992 to 2015.

Rob joined the company in 1969. Prior to becoming chairman, he held a variety of positions with Walmart, including senior vice president, corporate secretary, general counsel and vice chairman. Before joining Walmart, Rob was a partner with the law firm of Conner & Winters in Tulsa, Okla. He is currently involved with a number of nonprofit and educational organizations, including Conservation International, where he serves as chairman of the executive committee, and the College of Wooster, where he is an Emeritus Life Trustee.

Forbes Billionaires Ranking:

S. Robson Walton was ranked 19 in the Forbes Billionaires list in the world for 2022, unchanged from the same rank 19 in 2021.According to Forbes, S. Robson Walton's net worth had increased by (9.2%) $5.5 billion to $65 billion in 2022.

Steven S. Reinemund

Director

Joined the Board: 2010 Committee: Compensation and Management Development (Chair); Nominating and Governance; Technology and eCommerce

Prior to joining Wake Forest University, Steven had a distinguished 23-year career with PepsiCo, Inc., where he served as chairman of the board from 2006 to 2007, and chairman and CEO from 2001 to 2006. Previously, Steven was PepsiCo's president and chief operating officer from 1999 to 2001 and chairman and CEO of Frito-Lay's worldwide operations from 1996 to 1999.

Steven has served as a director of Exxon Mobil Corporation and Marriott International, Inc., all since 2007. He previously served as a director of Johnson & Johnson from 2003 to 2008 and of American Express Company from 2007 to 2015. He is also a member of the board of trustees for The Cooper Institute. Steven is also a member of the board of directors of Chick-fil-A, Inc., the board of trustees for The Cooper Institute and the United States Naval Academy Foundation

SECTION 14 INSIDER OWNERSHIP AND TRANSACTION IN THE PAST 10 YEARS

14.1 Shares Held by Insiders as on Jun 09, 2023 (Value computed at price $153.68)

NameShares HeldValue, $
S. Robson Walton1,248,647,136191,892,091,860
Doug McMillon1,853,490284,844,343
Greg Penner561,05486,222,779
Judith McKenna397,72261,121,917
John Furner288,43444,326,537
Dan Bartlett159,24024,472,003
Donna Morris120,28418,485,245
Timothy P. Flynn56,8958,743,624
David M. Chojnowski43,9726,757,617
Marissa A. Mayer38,9575,986,912
Steven S. Reinemund28,2474,340,999
Randall Stephenson21,2203,261,090
Carla A. Harris14,0992,166,734
Total1,252,230,750192,442,821,660

S. Robson Walton now has a beneficial interest in 1,248,647,136 (or 46.3% of) Walmart shares worth $191.9 billion.

Nature of OwnershipShares HeldValue, $
Equity-Non-Derivative Securities
By Limited Liability Company1,000,891,131153,816,949,012
By Trust244,535,10337,580,154,629
NA3,220,902494,988,219
Total (Equity)1,248,647,136191,892,091,860

Doug McMillon now has a beneficial interest in 1,853,490 Walmart shares worth $284.8 million.

Nature of OwnershipShares HeldValue, $
Equity-Non-Derivative Securities
NA1,500,328230,570,407
By Trust for Children138,40121,269,466
By Wife's Trust for Children and Reporting Person131,99020,284,223
By Trust for Wife59,5639,153,642
By Wife's Trust for Children19,0902,933,751
By Son2,258347,009
By 401(k)1,860285,845
Total (Equity)1,853,490284,844,343

Greg Penner now has a beneficial interest in 561,054 Walmart shares worth $86.2 million.

Nature of OwnershipShares HeldValue, $
Equity-Non-Derivative Securities
By spouse482,87874,208,691
NA78,17612,014,088
Total (Equity)561,05486,222,779

Judith McKenna now has a beneficial interest in 397,722 Walmart shares worth $61.1 million.

Nature of OwnershipShares HeldValue, $
Equity-Non-Derivative Securities
NA325,43250,012,390
By Spouse's Trust72,29011,109,527
Total (Equity)397,72261,121,917

John Furner now has a beneficial interest in 288,434 Walmart shares worth $44.3 million.

Nature of OwnershipShares HeldValue, $
Equity-Non-Derivative Securities
NA286,61744,047,301
By 401(k) plan1,817279,237
Total (Equity)288,43444,326,537

Dan Bartlett now has a beneficial interest in 159,240 Walmart shares worth $24.5 million.

Donna Morris now has a beneficial interest in 120,284 Walmart shares worth $18.5 million.

Timothy P. Flynn now has a beneficial interest in 56,895 Walmart shares worth $8.7 million.

Nature of OwnershipShares HeldValue, $
Equity-Non-Derivative Securities
NA46,8957,206,824
By Spouse's Family Trust10,0001,536,800
Total (Equity)56,8958,743,624

David M. Chojnowski now has a beneficial interest in 43,972 Walmart shares worth $6.8 million.

Marissa A. Mayer now has a beneficial interest in 38,957 Walmart shares worth $6 million.

Steven S. Reinemund now has a beneficial interest in 28,247 Walmart shares worth $4.3 million.

Randall Stephenson now has a beneficial interest in 21,220 Walmart shares worth $3.3 million.

Carla A. Harris now has a beneficial interest in 14,099 Walmart shares worth $2.2 million.

14.2 Insider buying Summary in the past 12 months

NameNo. of SharesPrice, $Value, $
Stephenson Randall L [Director]7,245138.01,000,168
Total7,245138.01,000,168

14.3 Stephenson Randall L [Director] Reported Buying In The Past 12 Months

MonthNo. of SharesPrice, $Value, $
March 17, 20237,245138.051,000,168

14.4 Insider selling Summary in the past 12 months

NameNo. of SharesPrice, $Value, $
Walton S Robson [Director]33,059,032143.64,746,995,097
McMillon C Douglas [CEO]97,088138.213,417,948
Furner John R. [Executive Vice President]35,000143.85,033,349
McKenna Judith J [Executive Vice President]20,300148.33,011,408
Brand Rachel L [Executive Vice President]14,187144.92,055,015
Chojnowski David [Senior Vice President]7,000149.91,049,254
Bartlett Daniel J [Executive Vice President]6,600147.8975,368
Total33,239,207143.64,772,537,439

14.5 Walton S Robson [Director] Reported Selling In The Past 12 Months

In the past year shares sold per month averaged 2,754,919.

MonthNo. of SharesPrice, $Value, $
Jun '23720,753150.07108,166,641
May '23455,660149.9868,340,139
Mar '2319,272,976141.532,727,733,540
Feb '231,729,143143.11247,465,871
Dec '225,094,500148.91758,636,786
Nov '223,663,000148.3543,225,936
Aug '222,123,000138.21293,426,184
Total: Walton S Robson 33,059,032143.64,746,995,097

WALTON S ROBSON [DIRECTOR] REPORTED INSIDER SELLING; 7 YEARS (2016 - 2022)

In the 7-year period 2016 to 2022 a total of 164,156,911 shares worth $17.3 billion were sold. In the past 7 years shares sold per year averaged 23,450,987.

YearNo. of SharesPrice, $Value, $
202212,225,933145.521,779,176,121
202133,297,552140.54,678,304,263
202010,042,085145.871,464,876,585
201920,417,61299.612,033,754,016
201825,418,57392.542,352,150,464
201749,055,15680.773,962,260,530
201613,700,00072.04986,993,109
Total164,156,911105.1317,257,515,089

14.6 McMillon C Douglas [CEO] Reported Selling In The Past 12 Months

In the past year shares sold per month averaged 8,091.

MonthNo. of SharesPrice, $Value, $
March 24, 20239,716140.121,361,407
February 23, 20239,708142.371,382,145
January 27, 20239,708143.571,393,778
December 23, 20229,708143.821,396,202
November 25, 20229,708152.121,476,763
October 28, 20229,708141.181,370,617
September 23, 20229,708134.041,301,309
August 26, 20229,708135.631,316,728
July 29, 20229,708127.051,233,391
June 24, 20229,708122.131,185,608
Total: McMillon C Douglas 97,088138.213,417,948

MCMILLON C DOUGLAS [CEO] REPORTED INSIDER SELLING; 2 YEARS (2021 - 2022)

In the 2-year period 2021 to 2022 a total of 194,160 shares worth $27.2 million were sold. In the past 2 years shares sold per year averaged 97,080.

YearNo. of SharesPrice, $Value, $
2022116,496137.5216,020,644
202177,664143.9111,176,905
Total194,160140.0827,197,548

14.7 Furner John R. [Executive Vice President] Reported Selling In The Past 12 Months

In the past year shares sold per month averaged 2,917. In the past month shares sold were 1.5 times average.

MonthNo. of SharesPrice, $Value, $
May 01, 20234,375151.0660,625
March 24, 20234,375140.05612,719
February 24, 20234,375144.19630,831
January 27, 20234,375143.03625,756
December 23, 20224,375144.81633,544
November 25, 20224,375152.08665,350
October 28, 20224,375140.94616,612
September 23, 20224,375134.38587,912
Total: Furner John R. 35,000143.85,033,349

14.8 McKenna Judith J [Executive Vice President] Reported Selling In The Past 12 Months

MonthNo. of SharesPrice, $Value, $
November 18, 202220,300148.353,011,408

MCKENNA JUDITH J [EXECUTIVE VICE PRESIDENT] REPORTED INSIDER SELLING; 5 YEARS (2018 - 2022)

In the 5-year period 2018 to 2022 a total of 84,954 shares worth $11.4 million were sold. In the past 5 years shares sold per year averaged 16,991.

YearNo. of SharesPrice, $Value, $
202235,300145.935,151,380
202115,000141.142,117,133
202010,000150.491,504,936
201912,543112.781,414,568
201812,11196.311,166,352
Total84,954133.6511,354,369

14.9 Brand Rachel L [Executive Vice President] Reported Selling In The Past 12 Months

In the past year shares sold per month averaged 1,182.

MonthNo. of SharesPrice, $Value, $
March 02, 20239,334141.831,323,880
November 23, 20224,853150.66731,135
Total: Brand Rachel L 14,187144.92,055,015

BRAND RACHEL L [EXECUTIVE VICE PRESIDENT] REPORTED INSIDER SELLING; 3 YEARS (2020 - 2022)

In the 3-year period 2020 to 2022 a total of 14,853 shares worth $2.2 million were sold. In the past 3 years shares sold per year averaged 4,951.

YearNo. of SharesPrice, $Value, $
20224,853150.66731,135
2021---
202010,000149.991,499,862
Total14,853150.212,230,997

14.10 Chojnowski David [Senior Vice President] Reported Selling In The Past 12 Months

MonthNo. of SharesPrice, $Value, $
November 18, 20227,000149.891,049,254

CHOJNOWSKI DAVID [SENIOR VICE PRESIDENT] REPORTED INSIDER SELLING; 6 YEARS (2017 - 2022)

In the 6-year period 2017 to 2022 a total of 28,553 shares worth $3.2 million were sold. In the past 6 years shares sold per year averaged 4,759.

YearNo. of SharesPrice, $Value, $
20227,000149.891,049,254
2021---
20204,605134.24618,175
20195,680108.97618,944
20185,44285.3464,176
20175,82681.7475,984
Total28,553113.03,226,533

14.11 Bartlett Daniel J [Executive Vice President] Reported Selling In The Past 12 Months

MonthNo. of SharesPrice, $Value, $
May 25, 20236,600147.78975,368

BARTLETT DANIEL J [EXECUTIVE VICE PRESIDENT] REPORTED INSIDER SELLING; 6 YEARS (2017 - 2022)

In the 6-year period 2017 to 2022 a total of 7,883 shares worth $799,697 were sold. In the past 6 years shares sold per year averaged 1,314.

YearNo. of SharesPrice, $Value, $
2022---
2021---
2020---
20193,000109.14327,420
20182,88396.25277,497
20172,00097.39194,780
Total7,883101.45799,697

SECTION 15 FINANCIALS AS REPORTED Q1 2023-24, PAST 7 YEARS

15.1 Financials as reported (Q1/2024)

SEC FILING 10-Q RESULTS OF OPERATIONS AND FINANCIAL CONDITION

(In $ Million, except per share data and shares outstanding)

INCOME STATEMENT AS REPORTED (Q1/2024)

Description$ Million$ Million
Apr 3020232022Change %
Revenues:
Net sales151,004140,288Up 7.6
Membership and other income1,2971,281Up 1.2
Total revenues152,301141,569Up 7.6
Costs and expenses:
Cost of sales115,284106,847Up 7.9
Operating, selling, general and administrative expenses30,77729,404Up 4.7
Operating income6,2405,318Up 17.3
Interest:
Debt568372Up 52.7
Finance lease9683Up 15.7
Interest income-107-36Deterioration 197.2
Interest, net557419Up 32.9
Other (gains) and losses2,9951,998Up 49.9
Income before income taxes2,6882,901Down 7.3
Provision for income taxes792798Down 0.8
Consolidated net income1,8962,103Down 9.8
Consolidated net income attributable to noncontrolling interest-223-49Deterioration 355.1
Consolidated net income attributable to Walmart1,6732,054Down 18.5
Net income per common share:
Basic net income per common share attributable to Walmart62.0c75.0cDown 17.3
Diluted net income per common share attributable to Walmart62.0c74.0cDown 16.2
Weighted-average common shares outstanding:
Basic2,690,000,0002,750,000,000Down 2.2
Diluted2,700,000,0002,770,000,000Down 2.5
Dividends declared per common share2.282.24Up 1.8
Consolidated net income1,8962,103Down 9.8
Consolidated net income attributable to noncontrolling interest-223-49Deterioration 355.1
Consolidated net income attributable to Walmart1,6732,054Down 18.5
Other comprehensive income (loss), net of income taxes
Currency translation and other809232Up 248.7
Net investment hedges
Cash flow hedges-6942Deterioration
Minimum pension liability21Up 100.0
Other comprehensive income (loss), net of income taxes742275Up 169.8
Other comprehensive (income) loss attributable to noncontrolling interest-209-7Deterioration 2,885.7
Other comprehensive income (loss) attributable to Walmart533268Up 98.9
Comprehensive income, net of income taxes2,6382,378Up 10.9
Comprehensive income attributable to noncontrolling interest-432-56Deterioration 671.4
Comprehensive income attributable to Walmart2,2062,322Down 5.0

BALANCE SHEET AS REPORTED (Q1/2024)

Description$ Million$ Million
Apr 30, 2023Jan 31, 2023Change %
ASSETS
Current assets:
Cash and cash equivalents10,5758,625Up 22.6
Receivables, net7,6477,933Down 3.6
Inventories56,93256,576Up 0.6
Prepaid expenses and other3,3572,521Up 33.2
Total current assets78,51175,655Up 3.8
Property and equipment, net102,335100,760Up 1.6
Operating lease right-of-use assets13,67913,555Up 0.9
Finance lease right-of-use assets, net5,1244,919Up 4.2
Goodwill28,30628,174Up 0.5
Other long-term assets17,09820,134Down 15.1
166,542167,542Down 0.6
Total assets245,053243,197Up 0.8
LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY
Current liabilities:
Short-term borrowings1,711372Up 359.9
Accounts payable54,26853,742Up 1.0
Dividends payable4,602
Accrued liabilities27,52731,126Down 11.6
Accrued income taxes1,325727Up 82.3
Long-term debt due within one year3,9754,191Down 5.2
Operating lease obligations due within one year1,4901,473Up 1.2
Finance lease obligations due within one year607567Up 7.1
Total current liabilities95,50592,198Up 3.6
Long-term debt38,12034,649Up 10.0
Long-term operating lease obligations12,92512,828Up 0.8
Long-term finance lease obligations5,0394,843Up 4.0
Deferred income taxes and other13,99914,688Down 4.7
70,08367,008Up 4.6
Commitments and contingencies
Redeemable noncontrolling interest234237Down 1.3
Equity:
Common stock269269Steady
Capital in excess of par value5,2484,969Up 5.6
Retained earnings78,03583,135Down 6.1
Accumulated other comprehensive loss-11,147-11,680Improved 4.6
Total Walmart shareholders' equity72,40576,693Down 5.6
Nonredeemable noncontrolling interest6,8267,061Down 3.3
Total equity79,23183,754Down 5.4
Total liabilities, redeemable noncontrolling interest, and equity245,053243,197Up 0.8

CASH FLOW AS REPORTED (Q1/2024)

Description$ Million$ Million
Apr 3020232022Change %
Cash flows from operating activities:
Consolidated net income1,8962,103Down 9.8
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization2,8452,680Up 6.2
Investment (gains) and losses, net3,0621,989Up 53.9
Deferred income taxes-725-69Deterioration 950.7
Other operating activities249-59Recovery
Changes in certain assets and liabilities, net of effects of acquisitions and dispositions:
Receivables, net376837Down 55.1
Inventories-154-4,699Improved 96.7
Accounts payable971-1,640Recovery
Accrued liabilities-4,447-4,949Improved 10.1
Accrued income taxes56049Up 1,042.9
Net cash provided by (used in) operating activities4,633-3,758Recovery
Cash flows from investing activities:
Payments for property and equipment-4,429-3,539Deterioration 25.1
Proceeds from the disposal of property and equipment4735Up 34.3
Proceeds from disposal of certain operations48
Payments for business acquisitions, net of cash acquired-598
Other investing activities-526-456Deterioration 15.4
Net cash used in investing activities-4,860-4,558Deterioration 6.6
Cash flows from financing activities:
Net change in short-term borrowings1,34310,995Down 87.8
Proceeds from issuance of long-term debt4,967
Repayments of long-term debt-1,784-926Deterioration 92.7
Dividends paid-1,538-1,543Improved 0.3
Purchase of Company stock-686-2,408Improved 71.5
Sale of subsidiary stock48335Up 1,280.0
Other financing activities-845-838Deterioration 0.8
Net cash provided by financing activities1,9405,315Down 63.5
Effect of exchange rates on cash, cash equivalents and restricted cash15449Up 214.3
Net increase (decrease) in cash, cash equivalents and restricted cash1,867-2,952Recovery
Cash, cash equivalents and restricted cash at beginning of year8,84114,834Down 40.4
Cash, cash equivalents and restricted cash at end of period10,70811,882Down 9.9

15.2 Download WALMART Financials Past 7 Years

Description (January 31)2022202120202019201820172016
Income Statement
Revenue per share204.19196.4182.69174.37166.23156.13149.87
Other Revenue (B)53.944.14.6
EBITDA (B)
Depreciation (B)
EBIT (B)22.9
Interest (B)2.4
Profit before tax (B)20.5
Tax (B)4.86.94.94.34.66.26.6
Net profit (B)13.713.514.96.79.913.614.7
EPS4.94.775.222.283.294.44.57
Balance Sheet
Equity Share Capital (B)83.380.974.772.577.975.177.5
Retained Earnings (B)86.988.883.980.874.989.490
Total Debt (B)57.363.272.451.439.739.950
Total Assets (B)244.9252.5236.5219.3204.5198.8199.6
Current Asset (B)81.190.161.861.959.757.760.2
Fixed Asset (B)94.592.2105.2104.3107.7114.2110.2
Working Capital (B)(6.3)(2.6)(16)(15.6)(18.9)(9.2)(4.4)
Cash Flow
Operating Cash Flow (B)24.236.125.327.828.331.727.4
Investing Cash Flow (B)(6)(10.1)(9.1)(24)(9.1)(14)(10.7)
Financing Cash Flow (B)(22.8)(16.1)(14.3)(2.5)(19.9)(19.1)(16.1)
Net Cash Flow(4.7 B)9.9 B1.8 B1.2 B(617 M)(1.4 B)592 M

SECTION 16 PEER COMPARISON & RANKING OF WMT

16.1 PEER COMPARISON: WMT IN INDICES

Walmart is a constituent of the following indices.

Its market capitalisation is $414 billion and accounts for 3.7% of the combined MCap of the Dow Jones Industrials Index.

Index NameMCap of Index ($ b)WMT MCap as % of Index
Dow Jones Industrials Index11,262 3.7
NYSE U.S. 100 Index22,023 1.9
NYSE Composite Index25,180 1.6
S&P 500 Index37,246 1.1

16.2 GLOBAL PEER COMPARISON: WMT - SIZE (all figures in $)

In its Global Peer Group of 9 companies WMT is ranked WMT is ranked first (1) by MCap, Revenue, Net Profit and Total Assets.

Name (Code)MCapRevenueNet ProfitTotal Assets
Rank of WMT1111
Walmart (WMT)414.3B572.8B13.7B244.9B
Target (TGT)78.8B106B6.9B53.8B
Japan Tobacco (2914)45.2B19.1B3.2B47.1B
Tesco (TSCO)23.7B1.8B61.4B
Ajinomoto (2802)21.5B9.8B677.3M10.9B
Asahi Group (2502)20.3B18.1B1.1B34.8B
Wilmar International (F34)18.4B73.4B2.4B60.4B
Kirin Holdings (2503)13.8B14.3B799.3M18.3B
Carrefour (CA)13.2B79.5B1.1B51B

GLOBAL PEER COMPARISON: WMT - RELATIVE VALUE INDICATORS

In value terms, comparing relative value of its shares, WMT is ranked

+ 8 out of 9 by Dividend Yield (%) [1.5]

+ 8 out of 9 by Price/Earnings per share [31.1]

+ 3 out of 9 by Price/Sales per share [0.7]

+ 7 out of 9 by Price/Book value per share [9.2]

Name (Code)Currency CodeLast PriceDiv Yld (%)P/EP/SP/Book
Rank of WMT by value8837
Walmart (WMT)USD153.71.531.10.79.2
Target (TGT)USD127.73.39.20.86.3
Japan Tobacco (2914)JPY3,1416.012.62.46.8
Tesco (TSCO)GBX261.94.213.84.1
Ajinomoto (2802)JPY5,6471.132.12.24.5
Asahi Group (2502)JPY5,5942.018.71.1
Wilmar International (F34)SGD44.37.80.21.1
Kirin Holdings (2503)JPY2,100.53.115.61.02.5
Carrefour (CA)EUR16.43.48.20.213.3

USD 1=

139.431 Japanese Yen (JPY); 0.928 Euro (EUR)ChartPath:Global Peer Group - Price Performance:/home/jboss/jboss-3.2.7/server/default/deploy/BuySellSignals.war/report/Usnyse/Stock/PDF/Daily/chart/new/1572_GlobalPeerGroup.svg

16.3 BUYSELLSIGNALS FUNDAMENTALS VALUATION RANKING:

Walmart vs NYSE Market

Out of 1,923 stocks and 207 units in the NYSE Market, Walmart is ranked first(1) by Revenue, eighth(8) by Market Cap in $, Twenty-fifth(25) by Net Profit $ and Sixtieth(60) by P/Sales.

NYSE AvgWMTWMT Rank
Revenue $- 1
Market Cap $-414.3 B8
Net Profit $-13.7 B25
P/Sales1.6x0.7x60
Price/Net Tangible Assets6.2x9.2x204
P/Earnings21.1x31.4x317
P/Earnings/ Growth-11.5x436
ROA (%)2.55.7834
Total Debt/Equity (the lower the better)0.8x0.6x1009
Yield (%)2.71.51116
Premium to 52-Wk Low (%)13.132.51281
EBITDA Margin%12.13.31472
Discount to 52-Wk High (%)6.63.11730

Negative values are shown in brackets.

16.4 Stock in Index and Stock in Sector

DescriptionWMTS&P 500 Index% of S&P 500 IndexBroadline retailers sector% of Broadline retailers sector
Net Profit $13.7 B1,040.6 B1.321.6 B63.3
Revenue $572.8 B11,417.3 B5.0708.7 B80.8
Total Assets $244.9 B36,456.6 B0.7319.2 B76.7
MCap $414.3 B37,245.7 B1.1656.5 B63.1

16.5 Relative Valuation Indicators: Stock vs Index and Stock vs Sector

DescriptionWMTS&P 500 Index Avg.Broadline retailers sector Avg.
Price/Earnings31.419.623.1
P/Earnings/Growth11.51-2.412.14
Yield (%)1.471.361.36
Price/Net Tangible Assets9.257.778.75
Total Debt/Equity (the lower the better)0.62x0.86x0.81x

16.6 GLOBAL RANK [out of 46,558 stocks] AND RANK OF WALMART IN THE AMERICAN REGION [out of 10,063 stocks]

DescriptionValueGlobal RankIn Am Region
MCap ($)414.3B2318
Total Assets ($)244.9B296123
Revenue ($)572.8B102
Net Profit ($)13.7B7828
Return on Equity %15.28,1371,632
Net Profit Margin %2.423,6493,373
Price to Book9.231,9055,148
Price/Earnings31.118,1192,797
Yield %1.516,5283,007
PV1000 (1Year) $1,3116,9631,255
$ Change (1Year) %26.46,7271,216

16.7 RANK OF WALMART IN THE S&P 500 INDEX [out of 351 stocks] AND IN THE NYSE MARKET [out of 2022 stocks]

DescriptionValueIn S&P 500 IndexIn NYSE Market
MCap ($)414.3B810
Total Assets ($)244.9B2643
Revenue ($)572.8B11
Net Profit ($)13.7B1718
Return on Equity %15.2169588
Net Profit Margin %2.43001,248
Price to Book9.21501,310
Price/Earnings31.4244974
Yield %1.52211,097
PV1000 (1Year) $1,3113890

16.8 LONG-TERM FUNDAMENTAL RANKING: 4 OUT OF 5 [5 is best]

Walmart is ranked number 1 out of 6 listed broadline retailer in the United States with a market capitalization of $414.3 billion.

Within its sector it has a relatively moderate P/E of 31.4.

It has a moderate relative ROE of 15.2% and ROA of 5.7%. The company paid a dividend of $1.70 in the last twelve months. The dividend yield is moderate at 1.5%. Finally, its earnings growth in the past 12 months has been a comparatively moderate 2.7%.

Stocks are scored on a set of parameters reflecting fundamental analytical tools involving valuation, size and financial performance. They are ranked according to the average values of those parameters. The highest ranking is 5 and the lowest ranking is 1.

SECTION 17 PATENTS

17.1 Number of Patents Issued to Walmart by the US Patent Office and the European Patent Office

A total of 346 patents were issued to Walmart in the last nine years. In the past year 2 patents were issued, 0.1 times average of 38 patents per year.

12 months ended Jun 09No. of Patents Issued
20232
20221
20211
20201
20197
2018141
2017113
201667
201513
Total346

STOCK IDENTIFIERS

ISIN: US9311421039

PermID: 4295905298

Central Index Key (CIK): 104169

CUSIP: 931142103

RIC: WMT.N

GLOSSARY

ADVT: Average Daily Volume of shares Traded

Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

Current Ratio: Current Assets/Current Liabilities (times)

Debt/Equity: Net Debt/Net Assets %

Dividend Yield: Dividend Per Share/Share Price (%)

EBIT Margin : Earnings Before Interest and Tax/Revenue (%)

Earnings Yield: Earnings Per Share/Share Price (%)

Income during the n years (3/2/1): Dividends received during the Period

Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods

PCP: Previous Corresponding Period

PV1000: Present value of 1000 invested 1 year/'n' years ago

Price Close/Moving Avg Price: Latest Price/Moving Average Price

Price/Earnings: Share Price/Earnings Per Share (times)

Price/NTA: Closing Share Price/Net Tangible Assets Per Share (times)

Price/Sales: Share Price/Sales Per Share (times)

Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index

Return on Assets: Net Profit/Total Assets (%)

Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)

TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend

TTM: Trailing 12 Months

Total Liabilities/Total Assets: Total Liabilities/Total Assets

Volatility: Highest Price minus Lowest Price/Lowest Price (%)

Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period

Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.

Disclaimer: While this document is based on information sources which are considered reliable, it has been prepared without consideration of your specific investment objectives, financial situation or needs, so you should carry out your own analysis or seek professional investment advice before an investment decision is made. The document contains unbiased, independent equities data and analysis from Jupiter International (Australia) Pty Ltd trading as BuySellSignals (AFS Licence 222756), who provide round the clock analysis on every stock, every sector, every market, every day. BuySellSignals is not a broker, and does not have executing, corporate advisory or investment banking functions. Jupiter International (Australia) Pty Ltd, its directors, employees and contractors do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate.

Data for the BuySellSignals algorithms is drawn from annual reports, company websites and similar sources of publicly available data. It should be used as a guide only.

Created by www.buysellsignals.com