Slide 1: Financial presentation to accompany management commentary Q4 FY2022
Financial presentation to accompany management commentary Q4 FY2022
Slide 2: Safe harbor and non-GAAP measures
Safe harbor and non-GAAP measures This presentation contains statements or may include or may incorporate by reference Walmart management’s guidance regarding earnings per share growth, consolidated net sales, consolidated operating income, capital expenditures, share repurchases, Walmart’s effectiv
Slide 3: Fiscal 2023 full-year guidance
Fiscal 2023 full-year guidance The following guidance reflects the company’s expectations for fiscal year 2023 and is provided on a non-GAAP basis as the Company cannot predict certain elements which are included in reported GAAP results, including the impact of foreign exchange translation and the
Slide 4: Walmart Inc. - Q4 FY22
Walmart Inc. - Q4 FY22 Dollars in billions, except per share. Change is calculated as the change versus the prior year comparable period Total revenue Operating income2 $152.9 Membership and Other Income Effective tax rate +0.5% $1.3 $5.9 24.0% Total revenue, constant currency 1,2 +7.3% +23.0% $153.
Slide 5: Walmart Inc. - FY22
Walmart Inc. - FY22 Dollars in billions, except per share. Change is calculated as the change versus the prior year comparable period 2 Total revenue Membership and Other Income Operating income2 $572.8 $5.0 $25.9 Effective tax rate +2.4% +27.4% +15.1% 25.4% 1 Total revenue, constant currency $568.2
Slide 6: Walmart Inc. - Q4 FY22
Walmart Inc. - Q4 FY22 Dollars in billions. Change is calculated as the change versus the prior year comparable period Receivables, net Debt to capitalization1 $8.3 34.0% +27.1% -370 bps Inventories Return on assets2 $56.5 5.6% +25.7% 0 bps Accounts payable Return on investment2 $55.3 14.9% +12.5% +
Slide 7: Walmart Inc. - FY22
Walmart Inc. - FY22 Dollars in billions. Dollar changes may not recalculate due to rounding. Change is calculated as the change versus the prior year comparable period Operating cash flow Dividends $24.2 $6.2 -$11.9 $1.5 in 4Q22 Capital expenditures Share repurchases2 $13.1 $9.8 +$2.8 $2.4 in 4Q22 F
Slide 8: Walmart U.S. - Q4 FY22
Walmart U.S. - Q4 FY22 Dollars in billions. Change is calculated as the change versus the prior year comparable period Net Sales Comparable sales1 Inventory $105.3 5.6% Total: +28.3% +5.7% Comparable transactions • Increase reflects higher cost of goods due to eCommerce net sales growth 3.1% inflati
Slide 9: Walmart U.S. - Q4 FY22
Walmart U.S. - Q4 FY22 Dollars in billions. Change is calculated as the change versus the prior year comparable period Gross profit rate Operating expense rate Operating income +54 bps +95 bps $5.2 +0.3% • Strong results reflect price • Expenses deleveraged due primarily • Improvement was aided by s
Slide 10: Walmart U.S. - quarterly merchandise highlights
Walmart U.S. - quarterly merchandise highlights Category Comp sales Details • Sales growth reflected continued market share gains (according to Nielsen) aided by slightly wider price gaps than pre-pandemic levels and expanded omni offerings; on a Grocery + high single-digits two-year stacked basis,
Slide 11: Walmart International - Q4 FY22
Walmart International - Q4 FY22 Dollars in billions. Dollar changes may not recalculate due to rounding. Change is calculated as the change versus the prior year comparable period Net sales2 Gross profit rate Operating income Adj. operating income1 $27.0 -109 bps $0.8 $0.9 -22.6% -13.7% -2.5% • Nega
Slide 12: Walmart International - Q4 FY22
Walmart International - Q4 FY22 Results are presented on a constant currency basis. Net sales and comp sales are presented on a nominal, calendar basis and include eCommerce results. Change is calculated as the change versus the prior year comparable period. Walmex1 China Canada Net sales growth +9.
Slide 13: Walmart International - Q4 FY22
Walmart International - Q4 FY22 Results are presented on a constant currency basis. Change is calculated as the change versus the prior year comparable period Walmex1 China Canada Gross profit rate Relatively Flat Decrease Slight Decrease x • Investment in price and mix of • Growth in lower margin S
Slide 14: Sam's Club - Q4 FY22
Sam's Club - Q4 FY22 Dollars in billions. Change is calculated as the change versus the prior year comparable period With Fuel Net sales eCommerce net sales growth Gross profit rate Operating income $19.2 +21% -48 bps $0.5 +16.5% • Strong contribution from both direct- • Unfavorable fuel mix negativ
Slide 15: Sam's Club - Q4 FY22
Sam's Club - Q4 FY22 Dollars in billions. Change is calculated as the change versus the prior year comparable period Without Fuel Net sales Gross profit rate Comparable sales1, 2 eCommerce contribution $16.9 -29 bps +10.4% ~100 bps +10.6% • On a two-year stack, comp sales increased 21.2% Operating e
Slide 16: Sam's Club - quarterly financial highlights
Sam's Club - quarterly financial highlights Category Comp sales Details Fresh / Freezer / Cooler + low-teens • Fresh meat, produce & floral, and prepared foods performed well Grocery and beverage + mid-teens • Drinks, dry grocery, and chips showed strength Consumables + high single-digit • Laundry &
Slide 17: Non-GAAP measures - ROI
Non-GAAP measures - ROI We include Return on Assets ("ROA"), which is calculated in accordance with U.S. generally accepted accounting principles ("GAAP") as well as Return on Investment ("ROI") as measures to assess returns on assets. Management believes ROI is a meaningful measure to share with in
Slide 18: Non-GAAP measures - ROI (cont.)
Non-GAAP measures - ROI (cont.) The calculation of ROA and ROI, along with a reconciliation of ROI to the calculation of ROA, is as follows: CALCULATION OF RETURN ON ASSETS CALCULATION OF RETURN ON INVESTMENT Fiscal Year Fiscal Year Ended January 31, Ended January 31, (Dollars in millions) 2022 2021
Slide 19: Non-GAAP measures - free cash flow
Non-GAAP measures - free cash flow We define free cash flow as net cash provided by operating activities in a period minus payments for property and equipment made in that period. We had net cash provided by operating activities of $24.2 billion for the fiscal year ended January 31, 2022, which decr
Slide 20: Non-GAAP measures - constant currency
Non-GAAP measures - constant currency In discussing our operating results, the term currency exchange rates refers to the currency exchange rates we use to convert the operating results for countries where the functional currency is not the U.S. dollar into U.S. dollars. We calculate the effect of c
Slide 21: Non-GAAP measures - adjusted operating income
Non-GAAP measures - adjusted operating income Adjusted operating income is considered a non-GAAP financial measure under the SEC’s rules because it excludes certain charges included in operating income calculated in accordance with GAAP. Management believes that adjusted operating income is a meanin
Slide 22: Non-GAAP measures - adjusted EPS
Non-GAAP measures - adjusted EPS Adjusted diluted earnings per share attributable to Walmart (Adjusted EPS) is considered a non-GAAP financial measure under the SEC’s rules because it excludes certain amounts included in the diluted earnings per share attributable to Walmart calculated in accordance
Slide 23: Non-GAAP measures - adjusted EPS (cont.)
Non-GAAP measures - adjusted EPS (cont.) Percent Percent Three Months Ended January 31, 2022 Change1 Fiscal Year Ended January 31, 20225 Change1 Diluted earnings per share: Reported EPS $ 1.28 NM $ 4.87 2.5% Pre-Tax Tax NCI Net Pre-Tax Tax NCI Net Adjustments: Impact Impact2,3 Impact4 Impact Impact
Slide 24: Non-GAAP measures - adjusted EPS (cont.)
Non-GAAP measures - adjusted EPS (cont.) As previously disclosed in our fiscal year ended January 31, 2021 press release, we have calculated Adjusted EPS for the three months and fiscal year ended January 31, 2021 by adjusting EPS for the following: (1) the loss on sale of our operations in Japan an
Slide 25: Additional resources at stock.walmart.com
Additional resources at stock.walmart.com • Unit counts & square footage • Comparable store sales, including and excluding fuel • Terminology 25