2015
Financial
Fact Book
Wal-Mart Stores, Inc.
Fact Book – Fiscal 2015
Updated on April 22, 2015
NYSE: WMT
NYSE: WMT
Contents
Wal-Mart Stores, Inc. (NYSE: WMT) helps people
around the world save money and live better –
anytime and anywhere – in retail stores, online,
and through their mobile devices. Each week, we
serve nearly 260 million customers who visit our
over 11,000 stores under 72 banners in 27
countries and e-commerce websites in 11
countries. With fiscal year 2015 sales of nearly
$486 billion, Walmart employs more than 2 million
associates worldwide. Walmart continues to be a
leader in sustainability, corporate philanthropy and
employment opportunity. Additional information
about Walmart can be found by visiting
http://corporate.walmart.com on Facebook
at http://facebook.com/walmart and on Twitter
at http://twitter.com/walmart. Online merchandise
sales are available at http://www.walmart.com
and http://www.samsclub.com.
Investor Relations Contact
Carol Schumacher
VP- Global Investor Relations
479-273-6463
Media Contact
Randy Hargrove
Director- National Media Relations
1-800-331-0085
Home Office
Wal-Mart Stores, Inc.
702 SW 8th Street
Bentonville, AR 72716
Tel: 479-273-4000
Fax: 479-277-1830
http://corporate.walmart.com/
Walmart U.S. Home Office
Walmart U.S.
702 SW 8th Street
Bentonville, AR 72716
Sam’s Club Home Office
Sam’s Club
2101 S.E. Simple Savings Dr.
Bentonville, AR 72716
Walmart International Home Office
Walmart International- Mitchell Building
702 SW 8th Street
Bentonville, AR 72716
Walmart eCommerce Home Office
Walmart eCommerce
850 Cherry Avenue
San Bruno, CA 94066
As disclosed in our publically filed financial statements, various financial reclassifications have taken place but did not have an effect on consolidated results.
For periods not reclassified within the applicable filings, the amounts shown in this Fact Book are the most recent publically disclosed amounts.
Wal-Mart Stores, Inc.
Page Contents
1
Description and contacts
2
Enterprise Strategy
3-5 Financial overview
6
Stock Performance & Returns
7-8 Consolidated Statements of Income
9
Consolidated Balance Sheets
10 Consolidated Statements of Cash Flow
Opportunity, Sustainability,
11
Community
Wal-Mart Global eCommerce Retail Sites
www.walmart.com
www.walmart.ca
www.walmart.com.br
www.walmartchile.cl
www.wal-mart.com.ar
www.walmart.com.mx
www.asda.com
www.makro.co.za
www.dionwired.co.za
www.the-seiyu.com
www.yhd.com
www.bestpricewholesale.co.in
1
Wal-Mart Stores, Inc. enterprise strategy
Integrating physical & digital
 Price, assortment, access & experience
drive a customer’s choice of retailer.
 Historically, Walmart led on price and
assortment.
 Retail environments are more competitive
today, especially with e-commerce
 To win, Walmart will lead on price, invest
to differentiate on access, be competitive
on assortment & deliver a great
experience.
We understand not only what our customers want and need,
but also where they want it and how they want to experience it.
2
Financial Overview
Net Sales by Segment - FY15
12%
28%
Walmart U.S.
60%
Walmart International
Walmart U.S. Merchandise Category - % of Net Sales
100%
Sam's Club Merchandise Category - % of Net Sales
100%
90%
7%
7%
7%
7%
7%
7%
80%
9%
9%
9%
80%
70%
10%
11%
11%
70%
60%
11%
10%
11%
60%
90%
50%
50%
40%
40%
30%
56%
56%
30%
55%
20%
20%
10%
10%
0%
0%
FY15
Grocery*
Health and wellness
FY14
Entertainment
FY13
Hardlines
Sam's Club
Apparel
Home
*Walmart U.S. grocery consists of a full line of grocery items, including meat, produce, deli,
bakery, dairy, frozen foods, alcoholic and nonalcoholic beverages, floral and dry grocery, as
well as consumables such as health and beauty aids, baby products, household chemicals,
paper goods and pet supplies. For additional category details, please refer to Walmart’s FY15
10-K.
5%
7%
5%
8%
5%
8%
8%
8%
8%
23%
23%
24%
57%
56%
55%
FY15
FY14
FY13
Grocery and consumables
Home and apparel
Health and wellness
Fuel and other categories
Technology, office and entertainment
For additional category details, please refer to Walmart’s FY15 10-K.
3
Financial Overview
U.S. Quarterly Comparable Store Sales Results without fuel (4-5-4 Retail Calendar)
Comp-Store Sales
Walmart U.S.
Neighborhood Market
Sam's Club
eCommerce Impact*
Walmart U.S.
Sam's Club
Fiscal Years Ended January 31
FY15
Q4
Q3
Q2
1.5%
0.5%
0.0%
7.7%
5.5%
5.6%
2.0%
0.4%
0.0%
Q4
0.3%
0.4%
Q3
0.2%
0.2%
Q2
0.3%
0.3%
Q1
-0.1%
5.0%
-0.5%
Q4**
-0.4%
5.0%
-0.1%
FY14
Q3
Q2
-0.3%
-0.3%
3.4%
N/A
1.1%
1.7%
Q1
-1.4%
N/A
0.2%
Q4
1.0%
N/A
2.3%
FY13
Q3
Q2
1.5%
2.2%
N/A
N/A
2.7%
4.2%
Q1
2.6%
N/A
5.3%
Q1
0.3%
0.2%
Q4
0.3%
0.4%
Q3
0.2%
0.2%
Q1
N/A
N/A
Q4
N/A
N/A
Q3
N/A
N/A
Q2
N/A
N/A
Q1
N/A
N/A
Q1
-1.4%
1.3%
Q4
-1.7%
1.3%
FY14
Q3
Q2
-0.4%
-0.5%
0.1%
0.2%
Q1
-1.8%
0.4%
Q4
-0.1%
1.1%
FY13
Q3
Q2
0.1%
0.4%
1.4%
1.8%
Q1
1.1%
1.5%
Q1
-0.2%
-0.3%
Q4
1.2%
-1.3%
FY14
Q3
Q2
2.4%
2.7%
-1.3%
-1.0%
Q1
1.3%
-1.1%
Q4
1.6%
0.7%
FY13
Q3
Q2
1.5%
1.8%
1.2%
2.4%
Q1
2.8%
2.5%
FY15 Ticket
Q3
Q2
-1.6%
0.3%
1.8%
2.1%
2.0%
1.3%
3.4%
9.7%
6.6%
6.3%
Q1
-2.5%
-1.8%
1.4%
7.2%
4.8%
Q2
N/A
N/A
Quarterly Traffic/Ticket Trends (4-5-4 Retail Calendar)
Walmart U.S.
Traffic
Ticket
Fiscal Years Ended January 31
FY15
Q4
Q3
Q2
1.4%
-0.7%
-1.1%
0.1%
1.2%
1.1%
FY15
Sam's Club
Traffic
Ticket
Q4
1.5%
0.5%
Q3
0.2%
0.2%
Q2
0.3%
-0.3%
Fiscal 2015 International Comparable Store Sales & Traffic/Ticket Trends (4-5-4 Retail Calendar)***
WMT International
UK
Mexico
Canada
Brazil
China
Fiscal Years Ended January 31
FY15 Comps
Q4
Q3
Q2
-2.5%
-1.8%
2.0%
0.8%
1.1%
1.9%
1.8%
0.6%
0.2%
3.1%
0.8%
9.7%
-2.3%
-2.3%
-1.6%
Q1
-1.5%
-2.6%
-1.4%
4.4%
-2.5%
Q4
-1.5%
-2.5%
0.1%
-2.1%
-7.6%
FY15 Traffic
Q3
Q2
-0.2%
1.7%
-0.7%
-0.2%
-1.4%
-1.1%
-2.6%
0.0%
-8.9%
-7.9%
Q1
1.0%
-0.8%
-2.8%
-2.8%
-7.3%
Q4
-1.0%
3.3%
1.7%
5.2%
5.3%
*The company’s e-commerce sales impact includes those sales initiated through the company’s websites and fulfilled through the company’s dedicated e-commerce distribution facilities, as well
as an estimate for sales initiated online, but fulfilled through the company’s stores and clubs.
** 14-week period
***International comparable store sales & ticket/traffic trends not consistently provided until FY2015 quarterly releases
Source: Quarterly earnings presentations and releases
4
Financial Overview
Capital Allocation
Priorities
Free Cash Flow*
(in billions of dollars)
18
16
1. Grow the business
•
•
Cash from
operations
Organic growth
Acquisitions
•
Stores
•
E-commerce
2. Dividends
3. Share Repurchases
14
12
10
8
16.4
12.7
6
10.1
4
2
AA Balance Sheet
0
FY15
Capital Expenditure Detail
(in billions of dollars)
16.0
14.0
12.0
10.0
8.0
12.2
1.2
0.8
3.9
12.9
1.2
1.1
1.4
0.9
4.5
4.6
18
16
14
6.0
6.4
13.0
6.7
7.6
6.1
5.4
10
6
6.3
12.8
12
8
4.0
FY13
Total Shareholder Return
(in billions of dollars)
20
13.1
FY14
6.0
2.0
4
2
0.0
7.2
1.0
6.2
0
FY15
Walmart U.S.
FY14
Walmart International
Sam's Club U.S.
FY13
Corporate & Support
FY15
Dividend
FY14
Share Repurchases
FY13
* Free cash flow is a non-GAAP measure. Net cash provided by operating activities of continuing operations is the closest GAAP measure to free cash flow. Reconciliations and
other information regarding free cash flow and its closest GAAP measure can be found in the Management’s Discussion and Analysis of Financial Condition and Results of
Operations included on our website at www.stock.walmart.com/financialinformation.
5
WAL-MART STORES, INC.
Stock Performance & Returns
FY16*
FY15
FY14
FY13
FY12
FY11
FY10
FY09
FY08
FY07
FY06
FY05
Stock Price
High
N/A
$90.97
$81.37
$77.60
$62.00
$57.90
$55.20
$63.85
$51.44
$52.15
$53.51
$61.05
Low
N/A
$72.27
$68.13
$57.18
$48.31
$47.77
$46.25
$46.92
$42.09
$42.31
$42.49
$51.33
$1.96
$1.92
$1.88
$1.59
$1.46
$1.21
$1.09
$0.95
$0.88
$0.67
$0.60
$0.52
Yield**
N/A
2.26%
2.52%
2.27%
2.38%
2.16%
2.04%
2.02%
1.73%
1.40%
1.30%
0.99%
Price to Earnings**
N/A
17.0
15.3
14.0
13.5
12.8
14.3
14.1
16.1
16.3
17.0
21.3
Return on Equity***
N/A
20.1%
20.3%
21.7%
20.8%
21.7%
20.8%
20.5%
20.4%
21.4%
22.2%
22.5%
Total Shareholder Return
N/A
16.6%
9.4%
16.8%
12.5%
7.4%
15.9%
-5.5%
8.4%
5.0%
-10.9%
-1.8%
Dividend
Declared
WMT Dividend
WMT Total Shareholder Return
$2.50
20.0%
$1.96
$2.00
16.6%
15.0%
10.0%
$1.50
5.0%
$1.00
0.0%
FY05
FY06
FY07
FY08
FY09
FY10
FY11
FY12
FY13
FY14
FY15
-5.0%
$0.50
-10.0%
$0.00
FY06
FY07
FY08
FY09
FY10
FY11
FY12
FY13
FY14
FY15
FY16
-15.0%
* Current FY
**As of last public record
***Return on equity is defined as income from continuing operations divided by average total equity
6
WAL-MART STORES, INC.
Consolidated Statements of Income
(Amounts in millions, except per share data)
Revenues:
Net sales
2015
Fiscal Years Ended January 31,
2014
2013
482,229
473,076
465,604
Walmart U.S.
Walmart International
Sam's Club
288,049
136,160
58,020
279,406
136,513
57,157
274,433
134,748
56,423
Membership and other income
Total revenues
3,422
485,651
3,218
476,294
3,047
468,651
Costs and expenses:
Cost of sales
Operating, selling, general and administrative expenses
Operating income
365,086
93,418
27,147
358,069
91,353
26,872
352,297
88,629
27,725
21,336
6,171
1,976
(2,336)
21,787
5,153
1,843
(1,911)
21,103
6,365
1,859
(1,602)
2,161
300
(113)
2,348
24,799
2,072
263
(119)
2,216
24,656
1,977
272
(186)
2,063
25,662
8,504
(519)
7,985
16,814
285
17,099
(736)
16,363
8,619
(514)
8,105
16,551
144
16,695
(673)
$16,022
7,976
(18)
7,958
17,704
52
17,756
(757)
$16,999
$5.01
$4.87
$5.03
0.06
$5.07
0.03
$4.90
0.01
$5.04
$4.99
0.06
$5.05
$4.85
0.03
$4.88
$5.01
0.01
$5.02
3,230
3,243
$1.92
3,269
3,283
$1.88
3,374
3,389
$1.59
Walmart US
Walmart International
Sam's Club
Corporate and Support
Interest:
Debt
Capital leases
Interest income
Interest, net
Income from continuing operations before income taxes
Provision for income taxes:
Current
Deferred
Total provision for income taxes
Income from continuing operations
Income (loss) from discontinued operations, net of income taxes
Consolidated net income
Less consolidated net income attributable to noncontrolling interest
Consolidated net income attributable to Walmart
Basic net income per common share:
Basic income per common share from continuing operations attributable to Walmart
Basic income (loss) per common share from discontinued operations attributable to Walmart
Basic net income per common share attributable to Walmart
Diluted net income per common share:
Diluted income per common share from continuing operations attributable to Walmart
Diluted income (loss) per common share from discontinued operations attributable to Walmart
Diluted net income per common share attributable to Walmart
Weighted-average common shares outstanding:
Basic
Diluted
Dividends declared per common share
7
WAL-MART STORES, INC.
Quarterly Consolidated Statements of Income
(Amounts in millions except per share data)
Total revenue
Net sales
Cost of sales
Income from continuing operations
Consolidated net income
Consolidated net income attributable to Walmart
Basic net income per common share(1):
Basic income per common share from continuing operations attributable to
Walmart
Basic income (loss) per common share from discontinued operations attributable
to Walmart
Basic net income per common share attributable to Walmart
Diluted net income per common share(1):
Diluted income per common share from continuing operations attributable to
Walmart
Diluted income (loss) per common share from discontinued operations
attributable to Walmart
Diluted net income per common share attributable to Walmart
Total revenue
Net sales
Cost of sales
Income from continuing operations
Consolidated net income
Consolidated net income attributable to Walmart
Basic net income per common share(1):
Basic income per common share from continuing operations attributable to
Walmart
Basic income (loss) per common share from discontinued operations attributable
to Walmart
Basic net income per common share attributable to Walmart
Diluted net income per common share(1):
Diluted income per common share from continuing operations attributable to
Walmart
Diluted income (loss) per common share from discontinued operations
attributable to Walmart
Diluted net income per common share attributable to Walmart
Q1
$ 114,960
114,167
86,714
3,711
3,726
3,593
Fiscal Year Ended January 31, 2015
Q2
Q3
Q4
$ 120,125
$ 119,001
$ 131,565
119,336
118,076
130,650
90,010
89,247
99,115
4,089
3,826
5,188
4,359
3,826
5,188
4,093
3,711
4,966
Total
$ 485,651
482,229
365,086
16,814
17,099
16,363
1.10
1.22
1.15
1.54
5.01
0.01
1.11
0.05
1.27
—
1.15
—
1.54
0.06
5.07
1.10
1.21
1.15
1.53
4.99
0.01
1.11
0.05
1.26
—
1.15
—
1.53
0.06
5.05
Fiscal Year Ended January 31, 2014
Q2
Q3
Q4
$ 116,829
$ 115,688
$ 129,706
116,101
114,876
128,786
87,420
86,687
97,971
4,205
3,870
4,544
4,216
3,885
4,650
4,069
3,738
4,431
Total
$ 476,294
473,076
358,069
16,551
16,695
16,022
Q1
$ 114,071
113,313
85,991
3,932
3,944
3,784
1.14
1.24
1.14
1.35
4.87
0.01
1.15
—
1.24
0.01
1.15
0.02
1.37
0.03
4.90
1.14
1.23
1.14
1.34
4.85
—
1.14
0.01
1.24
—
1.14
0.02
1.36
0.03
4.88
(1) The sum of quarterly income per common share attributable to Walmart data may not agree to annual
amounts due to rounding
8
WAL-MART STORES, INC.
Consolidated Balance Sheets
(Amounts in millions)
ASSETS
Current assets:
Cash and cash equivalents
Receivables, net
Inventories
Prepaid expenses and other
Current assets of discontinued operations
Total current assets
Property and equipment:
Property and equipment
Less accumulated depreciation
Property and equipment, net
Fiscal Years Ended January 31
2015
2014
$
Property under capital lease:
Property under capital lease
Less accumulated amortization
Property under capital lease, net
Goodwill
Other assets and deferred charges
Total assets
LIABILITIES AND EQUITY
Current liabilities:
Short-term borrowings
Accounts payable
Accrued liabilities
Accrued income taxes
Long-term debt due within one year
Obligations under capital leases due within one year
Current liabilities of discontinued operations
Total current liabilities
$
$
Long-term debt
Long-term obligations under capital leases
Deferred income taxes and other
Redeemable noncontrolling interest
9,135
6,778
45,141
2,224
—
63,278
$
7,281
6,677
44,858
1,909
460
61,185
177,395
(63,115)
114,280
173,089
(57,725)
115,364
5,239
(2,864)
2,375
5,589
(3,046)
2,543
18,102
5,671
203,706
19,510
6,149
204,751
1,592
38,410
19,152
1,021
4,810
287
—
65,272
$
$
7,670
37,415
18,793
966
4,103
309
89
69,345
41,086
2,606
8,805
41,771
2,788
8,017
—
1,491
323
2,462
85,777
(7,168)
81,394
4,543
85,937
203,706
323
2,362
76,566
(2,996)
76,255
5,084
81,339
204,751
Commitments and contingencies
Equity:
Common stock
Capital in excess of par value
Retained earnings
Accumulated other comprehensive income (loss)
Total Walmart shareholders’ equity
Nonredeemable noncontrolling interest
Total equity
Total liabilities and equity
$
$
9
WAL-MART STORES, INC.
Consolidated Statements of Cash Flows
(Amounts in millions)
Cash flows from operating activities:
Consolidated net income
(Gain)/loss from discontinued operations, net of tax
Income from continuing operations
Adjustments to reconcile consolidated net income to net cash provided by
operating activities:
Depreciation and amortization
Deferred income taxes
Other operating activities
Fiscal Years Ended January 31,
2015
2014
2013
$
16,695
(144)
16,551
$ 17,756
(52)
17,704
9,173
(503)
785
8,870
(279)
938
8,478
(133)
602
(569)
(1,229)
2,678
1,249
166
28,564
(566)
(1,667)
531
103
(1,224)
23,257
(614)
(2,759)
1,061
271
981
25,591
Cash flows from investing activities:
Payments for property and equipment
Proceeds from disposal of property and equipment
Proceeds from disposal of certain operations
Other investing activities
Net cash used in investing activities
(12,174)
570
671
(192)
(11,125)
(13,115)
727
—
(138)
(12,526)
(12,898)
532
—
(271)
(12,637)
Cash flows from financing activities:
Net change in short-term borrowings
Proceeds from issuance of long-term debt
Payment of long-term debt
Dividends paid
Purchase of Company stock
Dividends paid to noncontrolling interest
Purchase of noncontrolling interest
Other financing activities
Net cash provided by (used in) financing activities
(6,288)
5,174
(3,904)
(6,185)
(1,015)
(600)
(1,844)
(409)
(15,071)
911
7,072
(4,968)
(6,139)
(6,683)
(426)
(296)
(260)
(10,789)
2,754
211
(1,478)
(5,361)
(7,600)
(282)
(132)
(58)
(11,946)
Effect of exchange rates on cash and cash equivalents
(514)
(442)
223
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
1,854
7,281
9,135
(500)
7,781
7,281
1,231
6,550
7,781
Changes in certain assets and liabilities, net of effects of acquisitions:
Receivable, net
Inventories
Accounts payable
Accrued liabilities
Accrued income taxes
Net cash provided by operating activities
Supplemental disclosure of cash flow information:
Income taxes paid
Interest paid
$
17,099
(285)
16,814
8,169
2,433
$
$
8,641
2,362
$
7,304
2,262
10
Wal-Mart Stores, Inc. leading society
“Save money. Live better.”
Opportunity
Sustainability
Community
Increase economic opportunity
Deliver low true cost
Increase economic opportunity
Priorities
Priorities
Priorities
•
•
•
•
•
•
•
•
•
•
Associate opportunity
Retail sector workforce
mobility
Women’s economic
empowerment
Supplier/small business
development
Business impact
•
•
Associate engagement
Productivity
Societal impact
•
•
Frontline workforce mobility
Job creation
Renewable energy
Zero waste
Sustainable food
Sustainable materials and
manufacturing
•
Associate opportunity
Retail sector workforce
mobility
Women’s economic
empowerment
Supplier/small business
development
Business impact
•
•
•
Business impact
COGS and opex
Supply security
Societal impact
•
•
GHG, natural capital
Worker safety, livelihoods
•
•
Associate engagement
Productivity
Societal impact
•
•
Frontline workforce mobility
Job creation
11