1/#Walmart is the world’s largest company in terms of Revenue.
It delivered $573 billion revenue in FY22(JanYE) which is larger than several countries’ GDP (only 25 countries have a higher GDP).
Market cap of ~$382 b (18th largest globally)
Here is a thread looking at Walmart
It delivered $573 billion revenue in FY22(JanYE) which is larger than several countries’ GDP (only 25 countries have a higher GDP).
Market cap of ~$382 b (18th largest globally)
Here is a thread looking at Walmart
2/ Walmart operates 10,500 stores and clubs in 24 countries and online
Employs 2.3 million associates worldwide (1.7 million in the US)
Each week ~230 million customers visit Walmart
Employs 2.3 million associates worldwide (1.7 million in the US)
Each week ~230 million customers visit Walmart
3/ Its ecommerce business is $73 billion.
As a comparison, Amazon North America is $316 billion turnover (total Amazon Revenue including AWS is $514 billion)
As a comparison, Amazon North America is $316 billion turnover (total Amazon Revenue including AWS is $514 billion)
4/ Walmart has a total of 157 distribution facilities located throughout the US and 179 internationally.
5/ A little history of the business
6/ A few snapshots from their annual report – Income Statement, Balance Sheet and Cash Flow.
It reports a gross profit rate of 24.4% before operating, selling, general & administrative expenses of ~20.8% of net revenue
It reports a gross profit rate of 24.4% before operating, selling, general & administrative expenses of ~20.8% of net revenue
7/ List of properties in US and rest of world.
Operating out of ~1.1 billion sq feet, they own 6k out of 11k properties.
Since Floorspace is also one of the key costs for a retail business, for Walmart it is partly borne in the P&L, and partly held in the Balance Sheet.
Operating out of ~1.1 billion sq feet, they own 6k out of 11k properties.
Since Floorspace is also one of the key costs for a retail business, for Walmart it is partly borne in the P&L, and partly held in the Balance Sheet.
8/ Here is a look at the category of merchandise Walmart sells. It operates across – groceries, general merchandise (incl entertainment, hardlines, apparel, home), and health and wellness (pharmacy etc).
For context, total Grocery Supermarket sector in the US ~$820 billion.
For context, total Grocery Supermarket sector in the US ~$820 billion.
9/ Where is the Capex directed?
Operating Cash flow of $24.2 billion, and $13.1 billion towards Capex – mainly supply chain related.
Operating Cash flow of $24.2 billion, and $13.1 billion towards Capex – mainly supply chain related.
10/ Key sources - Walmart FY22 annual report
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