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This page was last modified over a year ago by G-Lu

Wal-Mart Stores (WMT)

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1. Company Information:
2. Company Overview:

2.1. Company Products/Services/Markets:
2.2. Strategy:
2.3. Competitors:
2.4. Industry Trends and News:
2.5. Acquisitions, Divestitures, Major Transactions, Spin-offs :
2.6. Management – Pros & Cons, Changes:

5.1. Buy Rationale:
5.2. Sell Rationale:

6. Projected Financials:
7. Discussion:
8. Footnotes:
9. News:
10. See Also (links to blogs, forums, external sources, etc...):

Company Information:

Company Address:

702 S.W. Eighth Street

Bentonville, AR 72716

Company’s Web Address: http://www.walmart.com/

Industry Sector:

Fiscal Year:

Dividend:

Note: this section is not editable. Please click here to report any inaccuracies.

Shares Outstanding: 4,100,000,000
Market Capitalization: Updating...

Income Statements
Click for: Annual Income Statement
Click for: Quarterly Income Statement

Balance Sheets
Click for: Annual Balance Sheet
Click for: Quarterly Balance Sheet

Cash Flow Statements
Click for: Annual Cash Flow Statement
Click for: Quarterly Cash Flow Statement

SEC Filings
Click for: Form 10-Ks
Click for: Form 10-Qs
Click for: Annual Proxy Statements
Link to SEC filings search: http://www.sec.gov/cgi-bin/srch-edgar

Company Overview:

Company Products/Services/Markets:

The company has become the world's number one retailer. Diversification into grocery (Wal-Mart Supercenters and Neighborhood Markets), international operations and membership warehouse clubs (SAM'S CLUBS), has created greater opportunities for growth.

As of July 31, 2007, the Company had 1,033 Wal-Mart discount stores, 2,349 Supercenters, 585 Sam’s Clubs and 124 Neighborhood Markets in the United States, for a total of 4,091 units. Internationally, the Company operated units in Argentina (15), Brazil (297), Canada (290), China (Wal-Mart 84; Trust-Mart 101), Costa Rica (143), Guatemala (138), Honduras (45), Japan (393), Mexico (930), Nicaragua (41), Puerto Rico (54), El Salvador (63) and the United Kingdom (337). [10]

Strategy:

Company has embarked on a 3 year turnaround strategy [30]

Competitors:

Target, Home Depot, Sears, Lowes, Best Buy, Walgreens, JC Penney, Kohl's, Costco

Industry Trends and News:

Enter Industry Trends and News Here

Acquisitions, Divestitures, Major Transactions, Spin-offs :

Enter Acquisitions, Divestiures, Major Transactions, Spin-offs Here

Management – Pros & Cons, Changes:

Enter Management - Pros & Cons, Changes Here

Financial Analysis:

Operating margin has returned to 2003 levels while Sam's margins are at record highs. [30]

Inventory is consistently growing slower than sales [30]

This is responsible for generating high and improving cash flow [30]

Valuation:

As of October 3, 2007

ROE = 21.0%

Analyst 5 year earnings growth estimate = 12.2%

	2007	2006	2005
Price/Earnings	15.0
Price/EBITDA
Price/Pre-tax Income
Price/Revenue	0.5

Investment Rationale:

Buy Rationale:

Given the value of the franchise, the high ROE, and the projected earnings growth, a 15x P/E seems low.

Sell Rationale:

Key trends are negative [20]

Projected Financials:

Income Statement: (Paste Here)

Balance Sheet: (Paste Here)

Cash Flow Statement: (Paste Here)

Financial Ratios: (Paste Here)

Other: (Paste Here)

Discussion:

This area is for debates regarding different recommendations for this stock.

Footnotes:

[10] www.walmartstores.com

[20] Gary McWilliams, "Wal-mar Era Wanes Amid Big Shifts in Retail", Wall Street Journal, October 3, 2007, p. A1

[30] Bear Sterns 13th Annual Retail, Restaurants, and Consumes Conference, February 27, 2007

News:

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