Walmart (WMT) FY2020 results: revenue $524.0 billion, up 1.9% on the year
Walmart Inc. (WMT) reported revenue of $524.0 billion for fiscal 2020, the year ended 31 January 2020, up 1.9% on the year before. Net income was $14.9 billion, up 123.1%, and diluted earnings per share $1.73. The figures are the company's own, from the 10-K it filed with the SEC on 20 March 2020.
Revenue
$524.0 billion
+1.9% on the year
FY2013FY2020
Operating margin
3.9%
4.3% a year earlier
FY2013FY2020
Net income
$14.9 billion
+123.1% on the year
FY2013FY2020
Diluted EPS
$1.73
+129.7% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
523,964
514,405
500,343
+1.9%
Cost of revenue
394,605
385,301
373,396
+2.4%
Gross profit
129,359
129,104
126,947
+0.2%
Gross margin
24.7%
25.1%
25.4%
Selling, general and administrative
108,791
107,147
106,510
+1.5%
Operating income
20,568
21,957
20,437
-6.3%
Operating margin
3.9%
4.3%
4.1%
Interest expense
2,262
1,975
1,978
+14.5%
Pre-tax income
20,116
11,460
15,123
+75.5%
Income tax
4,915
4,281
4,600
+14.8%
Effective tax rate
24.4%
37.4%
30.4%
Net income
14,881
6,670
9,862
+123.1%
Net margin
2.8%
1.3%
2.0%
Diluted EPS
$1.73
$0.75
$1.09
+129.7%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
25,255
27,753
28,337
-9.0%
Capital expenditure
10,705
10,344
10,051
+3.5%
Free cash flow
14,550
17,409
18,286
-16.4%
Free cash flow margin
2.8%
3.4%
3.7%
Cash from investing
-9,128
-24,036
-9,079
Cash from financing
-14,299
-2,537
-19,875
Depreciation and amortisation
10,987
10,678
10,529
+2.9%
Share-based compensation
854
773
626
+10.5%
Buybacks
5,717
7,410
8,296
-22.8%
Dividends paid
6,048
6,102
6,124
-0.9%
Dividend per share
$0.71
$0.69
$0.68
+1.9%
Diluted shares, weighted
8,604m
8,835m
9,030m
-2.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
74,669
72,496
77,869
+3.0%
Non-controlling interest
6,883
7,138
2,953
-3.6%
Debt
49,651
50,621
39,040
-1.9%
Operating lease liabilities
16,171
0.0
n/a
Finance lease liabilities
4,307
0.0
n/a
Other liabilities
84,814
89,040
84,660
-4.7%
Total liabilities and equity
236,495
219,295
204,522
+7.8%
Fixed assets
105,208
104,317
107,675
+0.9%
Goodwill
31,073
31,181
18,242
-0.3%
Cash and equivalents
9,465
7,722
6,756
+22.6%
Receivables
6,284
6,283
5,614
+0.0%
Inventory
44,435
44,269
43,783
+0.4%
Other assets
40,030
25,523
22,452
+56.8%
Total assets
236,495
219,295
204,522
+7.8%
10-K for the year ended 31 January 2020, filed 20 March 2020: the filing.