Key Performance Metrics

  • The review of Net Profit Margin witnessed a fluctuating trend. The Net Profit Margin moved from 2.84% in 2019 to 2.39% in 2023. 
  • The average EBIT Margin for the period under analysis was 3.75%, with 2022 and 2019 performing the worst and best, respectively.
  • In the current year, WALMART was able to cover its interest liabilities 8.86 times – compared to 2019 when it was 8.62 times.
  • The Asset turnover stood at 2.56 times in 2023 from 2.22 in 2019, implying a high performance on Assets of the business in relation to revenue.


  • The revenue of WALMART has fluctuated year on year. The revenue increased by 6.72% between 2019 and 2020 and a further 6.73% increase was recorded between 2021 and 2022. There also occurred an increase of 6.03% between 2022 and 2023 (the current period).
  • Walmart’s performance in profitability looks good as the return on capital employed also recorded good performance during the period of analysis.


  • The company’s result in liquidity looks fair, as current ratio increased from 0.82:1 to 0.83:1 on the last year. Which implies that the company has enough assets to settle its current liabilities.

Capital Structure

  • Walmart is both equity and debt financed.
  • The debt-to-equity (D/E) ratio has been falling year on year. The gearing position of the company appears to be low as it stood at 73% in the current year.

Source: Walmart Annual Report

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