Financials Walmart Inc.

Equities

WMT

US9311421039

Food Retail & Distribution

Real-time Estimate Cboe BZX Other stock markets 09:58:43 2024-12-12 am EST			5-day change	1st Jan Change
95.00 ^USD	+0.04%		-0.11%	+81.15%

03:10pm	Sector Update: Consumer Stocks Mixed Premarket Thursday	MT
02:22pm	Walmart's Fintech Scores $2.5 Billion Valuation	MT

Projected Income Statement: Walmart Inc.

income-statement-evolution-chart WALMART-INC

Fiscal Period: January	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	519,926	555,233	567,762	605,881	642,637	676,776	705,490	737,480
Change	-	6.79%	2.26%	6.71%	6.07%	5.31%	4.24%	4.53%
EBITDA ¹	32,394	34,332	36,708	35,547	38,865	42,323	46,106	49,969
Change	-	5.98%	6.92%	-3.16%	9.33%	8.9%	8.94%	8.38%
EBIT ¹	21,407	23,180	26,050	24,602	27,012	29,429	32,421	35,714
Change	-	8.28%	12.38%	-5.56%	9.8%	8.95%	10.16%	10.16%
Interest Paid ¹	-2,410	-2,194	-1,836	-1,874	-2,137	-2,160	-2,085	-2,038
Earnings before Tax (EBT) ¹	20,116	20,564	18,696	17,016	21,848	26,698	29,961	32,871
Change	-	2.23%	-9.08%	-8.99%	28.4%	22.2%	12.22%	9.71%
Net income ¹	14,881	13,510	13,673	11,680	15,511	19,457	21,978	24,230
Change	-	-9.21%	1.21%	-14.58%	32.8%	25.44%	12.96%	10.25%
Announcement Date	2/18/20	2/18/21	2/17/22	2/21/23	2/20/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: Enero	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	140,608	133,672	136,824	133,752	150,985	137,159	139,871	139,207	151,525	140,288	151,381	151,469	162,743	151,004	160,280	159,439	171,914	159,938	167,767	168,003	178,742	165,774	174,687	175,377	186,233	173,153	182,127	183,451
Change	-	-4.93%	2.36%	-2.25%	12.88%	-9.16%	1.98%	-0.47%	8.85%	-7.42%	7.91%	0.06%	7.44%	-7.21%	6.14%	-0.52%	7.82%	-6.97%	4.9%	0.14%	6.39%	-7.26%	5.38%	0.39%	6.19%	-7.02%	5.18%	0.73%
EBITDA ¹	8,696	8,015	9,287	8,549	8,481	9,570	9,995	8,442	8,701	7,998	9,553	8,775	9,221	9,085	10,221	9,188	10,371	10,224	11,151	9,968	11,053	10,983	11,971	10,828	12,103	11,826	12,797	11,450
Change	-	-7.83%	15.87%	-7.95%	-0.8%	12.84%	4.44%	-15.54%	3.07%	-8.08%	19.44%	-8.14%	5.08%	-1.47%	12.5%	-10.11%	12.88%	-1.42%	9.07%	-10.61%	10.89%	-0.64%	9%	-9.55%	11.78%	-2.29%	8.21%	-10.53%
EBIT ¹	5,868	5,224	6,516	5,778	5,662	6,900	7,354	5,792	5,995	5,318	6,854	6,020	6,410	6,240	7,316	6,202	7,254	6,841	7,940	6,708	7,762	7,680	8,624	7,406	8,554	8,440	9,552	8,340
Change	-	-10.97%	24.73%	-11.33%	-2.01%	21.87%	6.58%	-21.24%	3.5%	-11.29%	28.88%	-12.17%	6.48%	-2.65%	17.24%	-15.23%	16.96%	-5.69%	16.06%	-15.52%	15.71%	-1.06%	12.3%	-14.13%	15.51%	-1.34%	13.18%	-12.69%
Charge d'intérêts ¹	-611	-549	-635	-516	-494	-536	-478	-442	-380	-419	-448	-500	-507	-557	-494	-537	-549	-600	-565	-478	-512.6	-524.6	-526.2	-505	-514.2	-463	-473	-468
Earnings before Tax (EBT) ¹	5,673	5,396	8,646	7,115	-593	3,844	5,923	4,147	4,782	2,901	6,644	-1,431	8,902	2,688	10,727	915	7,518	7,035	6,213	6,098	7,203	7,068	7,973	6,840	7,990	-	-	-
Change	-	-4.88%	60.23%	-17.71%	-	-	54.08%	-29.98%	15.31%	-39.34%	129.02%	-	-	-69.8%	299.07%	-91.47%	721.64%	-6.42%	-11.68%	-1.85%	18.13%	-1.89%	12.82%	-14.21%	16.81%	-100%	-	-
Net income ¹	4,141	3,990	6,476	5,135	-2,091	2,730	4,276	3,105	3,562	2,054	5,149	-1,798	6,275	1,673	7,891	453	5,494	5,104	4,501	4,577	5,175	5,149	5,873	5,079	5,881	5,696	6,827	6,113
Change	-	-3.65%	62.31%	-20.71%	-	-	56.63%	-27.39%	14.72%	-42.34%	150.68%	-	-	-73.34%	371.67%	-94.26%	1,112.8%	-7.1%	-11.81%	1.69%	13.07%	-0.5%	14.05%	-13.52%	15.8%	-3.15%	19.86%	-10.46%
Announcement Date	2/18/20	5/19/20	8/18/20	11/17/20	2/18/21	5/18/21	8/17/21	11/16/21	2/17/22	5/17/22	8/16/22	11/15/22	2/21/23	5/18/23	8/17/23	11/16/23	2/20/24	5/16/24	8/15/24	11/19/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Walmart Inc.

balance-sheet-analysis-chart WALMART-INC

Fiscal Period: January	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	45,004	31,130	28,071	35,997	37,024	41,314	41,425	38,743
Change	-	-30.83%	-9.83%	28.24%	2.85%	11.59%	0.27%	-6.47%
Announcement Date	2/18/20	2/18/21	2/17/22	2/21/23	2/20/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Walmart Inc.

Fiscal Period: January	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	10,705	10,264	13,106	16,857	20,606	22,176	21,690	21,686
Change	-	-4.12%	27.69%	28.62%	22.24%	7.62%	-2.19%	-0.02%
Free Cash Flow (FCF) ¹	14,550	25,810	11,075	11,984	15,120	13,814	15,435	18,606
Change	-	77.39%	-57.09%	8.21%	26.17%	-8.64%	11.74%	20.54%
Announcement Date	2/18/20	2/18/21	2/17/22	2/21/23	2/20/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Walmart Inc.

Fiscal Period: January	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	6.23%	6.18%	6.47%	5.87%	6.05%	6.25%	6.54%	6.78%
EBIT Margin (%)	4.12%	4.17%	4.59%	4.06%	4.2%	4.35%	4.6%	4.84%
EBT Margin (%)	3.87%	3.7%	3.29%	2.81%	3.4%	3.94%	4.25%	4.46%
Net margin (%)	2.86%	2.43%	2.41%	1.93%	2.41%	2.87%	3.12%	3.29%
FCF margin (%)	2.8%	4.65%	1.95%	1.98%	2.35%	2.04%	2.19%	2.52%
FCF / Net Income (%)	97.78%	191.04%	81%	102.6%	97.48%	71%	70.23%	76.79%
Profitability
ROA	6.53%	6.38%	7.29%	7.05%	7.25%	7.85%	8.37%	8.87%
ROE	20.22%	20.01%	22.07%	21.5%	22.39%	21.65%	22.32%	22.67%
Financial Health
Leverage (Debt/EBITDA)	1.39x	0.91x	0.76x	1.01x	0.95x	0.98x	0.9x	0.78x
Debt / Free cash flow	3.09x	1.21x	2.53x	3x	2.45x	2.99x	2.68x	2.08x
Capital Intensity
CAPEX / Current Assets (%)	2.06%	1.85%	2.31%	2.78%	3.21%	3.28%	3.07%	2.94%
CAPEX / EBITDA (%)	33.05%	29.9%	35.7%	47.42%	53.02%	52.4%	47.04%	43.4%
CAPEX / FCF (%)	73.57%	39.77%	118.34%	140.66%	136.28%	160.53%	140.52%	116.55%
Items per share
Cash flow per share ¹	2.935	4.224	2.874	3.516	4.406	4.111	4.543	5.062
Change	-	43.89%	-31.96%	22.37%	25.31%	-6.69%	10.49%	11.42%
Dividend per Share ¹	0.7067	0.72	0.7333	0.7467	0.76	0.8245	0.8789	0.9299
Change	-	1.89%	1.85%	1.82%	1.79%	8.48%	6.61%	5.8%
Book Value Per Share ¹	8.787	9.528	9.939	9.385	10.38	11.49	12.7	14.16
Change	-	8.43%	4.31%	-5.58%	10.63%	10.66%	10.56%	11.48%
EPS ¹	1.73	1.583	1.623	1.423	1.913	2.383	2.725	3.052
Change	-	-8.48%	2.53%	-12.32%	34.43%	24.54%	14.36%	11.99%
Nbr of stocks (in thousands)	8,511,525	8,487,858	8,321,635	8,090,400	8,076,701	8,033,386	8,033,386	8,033,386
Announcement Date	2/18/20	2/18/21	2/17/22	2/21/23	2/20/24	-	-	-