Walmart (WMT) FY2019 results: revenue $514.4 billion, up 2.8% on the year
Walmart Inc. (WMT) reported revenue of $514.4 billion for fiscal 2019, the year ended 31 January 2019, up 2.8% on the year before. Net income was $6.7 billion, down 32.4%, and diluted earnings per share $0.75. The figures are the company's own, from the 10-K it filed with the SEC on 28 March 2019.
Revenue
$514.4 billion
+2.8% on the year
FY2012FY2019
Operating margin
4.3%
4.1% a year earlier
FY2012FY2019
Net income
$6.7 billion
-32.4% on the year
FY2012FY2019
Diluted EPS
$0.75
-31.1% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
514,405
500,343
485,873
+2.8%
Cost of revenue
385,301
373,396
361,256
+3.2%
Gross profit
129,104
126,947
124,617
+1.7%
Gross margin
25.1%
25.4%
25.6%
Selling, general and administrative
107,147
106,510
101,853
+0.6%
Operating income
21,957
20,437
22,764
+7.4%
Operating margin
4.3%
4.1%
4.7%
Interest expense
1,975
1,978
2,044
-0.2%
Pre-tax income
11,460
15,123
20,497
-24.2%
Income tax
4,281
4,600
6,204
-6.9%
Effective tax rate
37.4%
30.4%
30.3%
Net income
6,670
9,862
13,643
-32.4%
Net margin
1.3%
2.0%
2.8%
Diluted EPS
$0.75
$1.09
$1.46
-31.1%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
27,753
28,337
31,673
-2.1%
Capital expenditure
10,344
10,051
10,619
+2.9%
Free cash flow
17,409
18,286
21,054
-4.8%
Free cash flow margin
3.4%
3.7%
4.3%
Cash from investing
-24,036
-9,079
-13,896
Cash from financing
-2,537
-19,875
-19,072
Depreciation and amortisation
10,678
10,529
10,080
+1.4%
Share-based compensation
773
626
596
+23.5%
Buybacks
7,410
8,296
8,298
-10.7%
Dividends paid
6,102
6,124
6,216
-0.4%
Dividend per share
$0.69
$0.68
$0.67
+2.0%
Diluted shares, weighted
8,835m
9,030m
9,336m
-2.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
72,496
77,869
77,798
-6.9%
Non-controlling interest
7,138
2,953
2,737
+141.7%
Debt
50,621
39,040
39,370
+29.7%
Operating lease liabilities
0.0
n/a
n/a
Finance lease liabilities
0.0
n/a
n/a
Other liabilities
89,040
84,660
78,920
+5.2%
Total liabilities and equity
219,295
204,522
198,825
+7.2%
Fixed assets
104,317
107,675
107,710
-3.1%
Goodwill
31,181
18,242
17,037
+70.9%
Cash and equivalents
7,722
6,756
6,867
+14.3%
Receivables
6,283
5,614
5,835
+11.9%
Inventory
44,269
43,783
43,046
+1.1%
Other assets
25,523
22,452
18,330
+13.7%
Total assets
219,295
204,522
198,825
+7.2%
10-K for the year ended 31 January 2019, filed 28 March 2019: the filing.