01—Abstract
Summary
Summary of the 10-K filed March 20, 2020. Cited figures are marked; the original filing is the authoritative source.
Walmart Inc. concluded its fiscal year ending January 31, 2020, with total revenues of $524 billiona, a 1.9% increase year-over-year.
The company demonstrated resilience with positive comparable sales growth in its U.S. segments (Walmart U.S. and Sam's Club) and continued investment in its omni-channel strategy, particularly in eCommerce and technology. Despite economic uncertainties and the looming impact of global events, Walmart maintained its focus on 'Everyday Low Price' and 'Everyday Low Cost' to drive customer value. Key strategic initiatives included expanding delivery and pickup services, strengthening its international portfolio through acquisitions and divestitures, and optimizing its supply chain.
The company also continued to return capital to shareholders through dividends and share repurchases, reflecting a commitment to financial discipline and shareholder returns. While facing competitive pressures and operational risks, Walmart's diversified business model and scale provide a strong foundation for navigating the evolving retail landscape.
02—Key points
Key Highlights
- Total revenues reached $523.96 billion for fiscal year 2020, a 1.9% increase from the prior year.
- Walmart U.S. comparable sales increased by 2.9%, with eCommerce contributing 1.7% to this growth.
- Walmart International's net sales saw a slight decrease of 0.6% due to currency fluctuations, but showed positive comparable sales growth in most markets.
- Sam's Club reported a 1.6% increase in net sales, with eCommerce contributing 1.5% to comparable sales.
- Capital expenditures totaled $10.7 billion, with a significant focus on eCommerce, technology, supply chain, and store remodels, while new store openings slowed.
- The company repurchased $5.7 billion of its stock during fiscal year 2020 under its authorized repurchase program.
- Walmart declared a fiscal 2021 annual dividend of $2.16 per share, an increase from the previous year, demonstrating a commitment to shareholder returns.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2020, Walmart Inc. kept $0.03.
- Revenue$519.93B100.0%
- Cost of revenue−$394.61B75.9%
- Gross profit$125.32B24.1%
- Operating costs−$104.75B20.1%
- Operating income$20.57B4.0%
- Interest, other & tax−$5.69B1.1%
- Net income$14.88B2.9%
Where FY2020 revenue went
$519.93B- Cost of revenue: $394.61B, 76% of revenue
- SG&A: $108.79B, 21% of revenue
- Net income: $14.88B, 2.9% of revenue
- Interest, other & tax: $5.69B, 1.1% of revenue
Kept 2.9% as net incomeNet income $14.88B · 2.9%
Full revenue history →04—Financials
Financial Highlights
Figures from 10-KFY2020filed March 20, 2020Financial Statements
FY2020 against FY2019
| Line item | FY2020FY2019 | Change |
|---|---|---|
| Revenue | $519.93B$514.40B | +1.1% |
| Cost of Revenue | $394.61B$385.30B | +2.4% |
| Gross Profit | $125.32B$129.10B | −2.9% |
| SG&A Expenses | $108.79B$107.15B | +1.5% |
| Operating Income | $20.57B$21.96B | −6.3% |
| Interest Expense | $2.26B$1.98B | +14.5% |
| Net Income | $14.88B$6.67B | +123.1% |
| EPS (Basic) | $1.74$0.76 | +128.9% |
| EPS (Diluted) | $1.73$0.75 | +129.6% |
| Shares Outstanding (Basic) | 8.55B8.79B | −2.7% |
| Shares Outstanding (Diluted) | 8.60B8.84B | −2.6% |
05—Questions
Frequently Asked Questions
What was Walmart's overall financial performance for fiscal year 2020?
Walmart reported total revenues of $523.96 billion for the fiscal year ended January 31, 2020, representing a 1.9% increase compared to the prior year. Consolidated net income attributable to Walmart was $14.88 billion, or $5.19 per diluted share.
How did Walmart's strategic investments in eCommerce and technology progress?
Walmart continued to invest heavily in its omni-channel strategy, enhancing eCommerce capabilities. This included expanding services like NextDay Delivery and Delivery Unlimited, and integrating digital and physical store experiences. eCommerce sales contributed positively to comparable sales growth across its U.S. segments.
What were the key performance drivers for Walmart's different segments?
Walmart U.S. showed solid growth with comparable sales up 2.9%, driven by both ticket and transactions. Walmart International faced headwinds from currency fluctuations but saw positive comparable sales in most markets. Sam's Club also reported positive comparable sales growth, benefiting from transaction and fuel sales.
How is Walmart managing its capital and returning value to shareholders?
Walmart allocated $10.7 billion in capital expenditures towards strategic growth areas like eCommerce and technology. The company also returned capital to shareholders through $5.7 billion in share repurchases and increased its annual dividend to $2.16 per share for fiscal year 2021.
06—Continue