Revenue Analysis:
Total Revenue has shown fluctuations across the considered periods, with a peak in 2024 at $173.388 billion, compared to $160.804 billion in 2023-10-31 and roughly $161.632 billion in 2023-07-31. Operating Revenue consistently aligns with Total Revenue, indicating the company’s primary operations drive revenue. Gross Profit Margin improved in 2024, with Gross Profit at $41.563 billion from $173.388 billion in Total Revenue, compared to $39.621 billion from $160.804 billion in 2023-10-31.
Cost Management:
Cost of Revenue and Operating Expenses have remained substantial, underscoring the scale of WMT’s operations. Despite an increase in Revenue in 2024, Cost of Revenue was higher at $131.825 billion compared to previous periods, such as $121.183 billion in 2023-10-31. Operating Expenses have seen an increase, peaking at $34.309 billion in 2024 from $30.777 billion in 2023-04-30.
Profitability Analysis:
EBITDA in 2024 was notably higher at $11.33 billion relative to $4.583 billion in 2023-10-31, demonstrating improved operational efficiency or cost management. Operating Income increased significantly to $7.254 billion in 2024, from $6.202 billion in 2023-10-31. This growth is also reflected in Pretax Income, which rose from $915 million in 2023-10-31 to $7.518 billion in 2024, suggesting better control of expenses and/or increased operating leverage.
Cash Flow Indicators:
Reconciled Depreciation shows steady growth, indicating ongoing investment in capital assets: $2.917 billion in 2024 versus $2.846 billion in 2023-04-30. Interest Expense has also remained relatively stable, suggesting consistent debt servicing.
Taxation:
The Tax Rate for Calculations varied slightly over the periods, with a minimal increase from 0.249 in 2023-07-31 to 0.245 in 2024. Tax Provisions were highest in 2024 at $1.84 billion, increasing from $272 million in 2023-10-31, in alignment with increased Pretax Income.
Shareholder Metrics:
Diluted and Basic EPS showed considerable growth in 2024 to 2.03 and 2.04 respectively, compared to lower figures in previous quarters such as 0.20667 in 2023-04-30. This reflects not only increased net income but also potentially effective share repurchase strategies reducing the number of outstanding shares, shown by the decrease in Diluted Average Shares from 8.112 billion in 2023-04-30 to 2.701 billion in 2024.
Conclusion:
WMT has demonstrated significant improvement in its financial performance in the last documented year, with robust growth in revenues, a tight grip on operating expenses, and improved profitability metrics across the board. The strategic maneuvers in operational management and possibly effective financial structuring (evidenced by changes in EPS despite varying net incomes) suggest a positive trajectory. Investors might see WMT as a stable investment with potential for continued growth based on these patterns.