Walmart (WMT) FY2021 results: revenue $559.2 billion, up 6.7% on the year
Walmart Inc. (WMT) reported revenue of $559.2 billion for fiscal 2021, the year ended 31 January 2021, up 6.7% on the year before. Net income was $13.5 billion, down 9.2%, and diluted earnings per share $1.58. The figures are the company's own, from the 10-K it filed with the SEC on 19 March 2021.
Revenue
$559.2 billion
+6.7% on the year
FY2014FY2021
Operating margin
4.0%
3.9% a year earlier
FY2014FY2021
Net income
$13.5 billion
-9.2% on the year
FY2014FY2021
Diluted EPS
$1.58
-8.5% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
559,151
523,964
514,405
+6.7%
Cost of revenue
420,315
394,605
385,301
+6.5%
Gross profit
138,836
129,359
129,104
+7.3%
Gross margin
24.8%
24.7%
25.1%
Selling, general and administrative
116,288
108,791
107,147
+6.9%
Operating income
22,548
20,568
21,957
+9.6%
Operating margin
4.0%
3.9%
4.3%
Interest expense
1,976
2,262
1,975
-12.6%
Pre-tax income
20,564
20,116
11,460
+2.2%
Income tax
6,858
4,915
4,281
+39.5%
Effective tax rate
33.3%
24.4%
37.4%
Net income
13,510
14,881
6,670
-9.2%
Net margin
2.4%
2.8%
1.3%
Diluted EPS
$1.58
$1.73
$0.75
-8.5%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
36,074
25,255
27,753
+42.8%
Capital expenditure
10,264
10,705
10,344
-4.1%
Free cash flow
25,810
14,550
17,409
+77.4%
Free cash flow margin
4.6%
2.8%
3.4%
Cash from investing
-10,071
-9,128
-24,036
Cash from financing
-16,117
-14,299
-2,537
Depreciation and amortisation
11,152
10,987
10,678
+1.5%
Share-based compensation
1,169
854
773
+36.9%
Buybacks
2,625
5,717
7,410
-54.1%
Dividends paid
6,116
6,048
6,102
+1.1%
Dividend per share
$0.72
$0.71
$0.69
+1.9%
Diluted shares, weighted
8,541m
8,604m
8,835m
-0.7%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
80,925
74,669
72,496
+8.4%
Non-controlling interest
6,606
6,883
7,138
-4.0%
Debt
44,533
49,651
50,621
-10.3%
Operating lease liabilities
12,909
16,171
0.0
-20.2%
Finance lease liabilities
3,847
4,307
0.0
-10.7%
Other liabilities
103,676
84,814
89,040
+22.2%
Total liabilities and equity
252,496
236,495
219,295
+6.8%
Fixed assets
92,201
105,208
104,317
-12.4%
Goodwill
28,983
31,073
31,181
-6.7%
Cash and equivalents
17,741
9,465
7,722
+87.4%
Receivables
6,516
6,284
6,283
+3.7%
Inventory
44,949
44,435
44,269
+1.2%
Other assets
62,106
40,030
25,523
+55.1%
Total assets
252,496
236,495
219,295
+6.8%
10-K for the year ended 31 January 2021, filed 19 March 2021: the filing.