Walmart (WMT) FY2014 results: revenue $476.3 billion, up 1.5% on the year
Walmart Inc. (WMT) reported revenue of $476.3 billion for fiscal 2014, the year ended 31 January 2014, up 1.5% on the year before. Net income was $16.0 billion, down 5.7%, and diluted earnings per share $1.63. The figures are the company's own, from the 10-K it filed with the SEC on 21 March 2014.
Revenue
$476.3 billion
+1.5% on the year
FY2008FY2014
Operating margin
5.6%
5.9% a year earlier
FY2008FY2014
Net income
$16.0 billion
-5.7% on the year
FY2008FY2014
Diluted EPS
$1.63
-2.8% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
476,294
469,162
446,950
+1.5%
Cost of revenue
358,069
352,488
335,127
+1.6%
Gross profit
118,225
116,674
111,823
+1.3%
Gross margin
24.8%
24.9%
25.0%
Selling, general and administrative
91,353
88,629
85,025
+3.1%
Operating income
26,872
27,725
26,491
-3.1%
Operating margin
5.6%
5.9%
5.9%
Interest expense
2,072
1,977
2,034
+4.8%
Pre-tax income
24,656
25,662
24,332
-3.9%
Income tax
8,105
7,958
7,924
+1.8%
Effective tax rate
32.9%
31.0%
32.6%
Net income
16,022
16,999
15,699
-5.7%
Net margin
3.4%
3.6%
3.5%
Diluted EPS
$1.63
$1.67
$1.51
-2.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
23,257
25,591
24,255
-9.1%
Capital expenditure
13,115
12,898
13,510
+1.7%
Free cash flow
10,142
12,693
10,745
-20.1%
Free cash flow margin
2.1%
2.7%
2.4%
Cash from investing
-12,526
-12,637
-16,609
Cash from financing
-10,789
-11,946
-8,458
Depreciation and amortisation
8,870
8,478
8,130
+4.6%
Share-based compensation
388
378
355
+2.6%
Buybacks
6,683
7,600
6,298
-12.1%
Dividends paid
6,139
5,361
5,048
+14.5%
Dividend per share
$0.63
$0.53
$0.49
+18.2%
Diluted shares, weighted
9,849m
10,167m
10,422m
-3.1%
Shares outstanding at period end
n/a
n/a
10,254m
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
76,255
76,343
71,315
-0.1%
Non-controlling interest
5,084
5,395
4,446
-5.8%
Redeemable equity
1,491
519
404
+187.3%
Debt
53,544
50,786
50,092
+5.4%
Other liabilities
68,377
70,062
67,149
-2.4%
Total liabilities and equity
204,751
203,105
193,406
+0.8%
Fixed assets
115,364
113,929
109,603
+1.3%
Goodwill
19,510
20,497
20,651
-4.8%
Cash and equivalents
7,281
7,781
6,550
-6.4%
Receivables
6,677
6,768
5,937
-1.3%
Inventory
44,858
43,803
40,714
+2.4%
Other assets
11,061
10,327
9,951
+7.1%
Total assets
204,751
203,105
193,406
+0.8%
10-K for the year ended 31 January 2014, filed 21 March 2014: the filing.