Walmart (NYSE:WMT) Cyclically Adjusted Revenue per Share

: $215.36 (As of Oct. 2023)

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E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

Walmart's adjusted revenue per share for the three months ended in Oct. 2023 was $59.491. Add all the adjusted revenue per share for the past 10 years together and divide the count will get our Cyclically Adjusted Revenue per Share, which is $215.36 for the trailing ten years ended in Oct. 2023.

During the past 12 months, Walmart's average Cyclically Adjusted Revenue Growth Rate was 5.70% per year. During the past 3 years, the average Cyclically Adjusted Revenue Growth Rate was 8.10% per year. During the past 5 years, the average Cyclically Adjusted Revenue Growth Rate was 7.10% per year. During the past 10 years, the average Cyclically Adjusted Revenue Growth Rate was 6.60% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Revenue Growth Rate using Cyclically Adjusted Revenue per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Revenue Growth Rate of Walmart was 22.80% per year. The lowest was 5.60% per year. And the median was 11.50% per year.

As of today (2023-12-04), Walmart's current stock price is $154.34. Walmart's Cyclically Adjusted Revenue per Share for the quarter that ended in Oct. 2023 was $215.36. Walmart's Cyclically Adjusted PS Ratio of today is 0.72.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Walmart was 0.90. The lowest was 0.44. And the median was 0.68.

Walmart Cyclically Adjusted Revenue per Share Historical Data

The historical data trend for Walmart's Cyclically Adjusted Revenue per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Walmart Annual Data

Trend

Jan14

Jan15

Jan16

Jan17

Jan18

Jan19

Jan20

Jan21

Jan22

Jan23

Cyclically Adjusted Revenue per Share

153.29

162.84

171.16

188.88

205.64

Walmart Quarterly Data
	Jan19	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23
Cyclically Adjusted Revenue per Share																203.73	205.64	209.67	212.61	215.36

Competitive Comparison

For the Discount Stores subindustry, Walmart's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Walmart Cyclically Adjusted PS Ratio Distribution

For the Retail - Defensive industry and Consumer Defensive sector, Walmart's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Walmart's Cyclically Adjusted PS Ratio falls into.

Walmart Cyclically Adjusted Revenue per Share Calculation

What is Cyclically Adjusted Revenue per Share? How do we calculate Cyclically Adjusted Revenue per Share?

Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Revenue per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the revenue per share from 2001 through 2010.

We adjusted the 2001 revenue per share data with the total inflation from 2001 through 2010 to the equivalent revenue in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's revenue is $1 a share in 2001, then the 2001's equivalent revenue in 2010 is $1.4 a share. If Wal-Mart's revenue is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 revenue in 2010 is $1.35. So on and so forth, you get the equivalent revenue per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Walmart's adjusted Revenue per Share data for the three months ended in Oct. 2023 was:

Adj_RevenuePerShare	=	Revenue per Share	/	CPI of Oct. 2023 (Change)	*	Current CPI (Oct. 2023)
	=	59.491	/	129.8595	*	129.8595
	=	59.491

Current CPI (Oct. 2023) = 129.8595.

Walmart Quarterly Data

	Revenue per Share	CPI	Adj_RevenuePerShare
201401	39.873	98.692	52.465
201404	35.394	100.023	45.952
201407	37.064	100.520	47.882
201410	36.729	100.176	47.613
201501	40.569	98.604	53.429
201504	35.407	99.824	46.061
201507	37.211	100.691	47.991
201510	36.473	100.346	47.200
201601	40.840	99.957	53.057
201604	36.748	100.947	47.273
201607	38.748	101.524	49.563
201610	38.122	101.988	48.540
201701	42.567	102.456	53.952
201704	38.576	103.167	48.557
201707	40.833	103.278	51.343
201710	41.114	104.070	51.303
201801	45.773	104.578	56.839
201804	41.352	105.708	50.800
201807	43.458	106.324	53.078
201810	42.467	106.695	51.687
201901	47.662	106.200	58.280
201904	42.940	107.818	51.718
201907	45.443	108.250	54.515
201910	44.736	108.577	53.505
202001	49.605	108.841	59.184
202004	47.252	108.173	56.725
202007	48.364	109.318	57.452
202010	47.283	109.861	55.890
202101	53.530	110.364	62.986
202104	48.890	112.673	56.347
202107	50.159	115.183	56.550
202110	50.241	116.696	55.908
202201	54.970	118.619	60.179
202204	51.200	121.978	54.508
202207	55.686	125.002	57.850
202210	56.368	125.734	58.217
202301	60.601	126.223	62.347
202304	56.324	127.992	57.146
202307	59.797	128.974	60.207
202310	59.491	129.860	59.491

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Walmart (NYSE:WMT) Cyclically Adjusted Revenue per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Revenue per Share may underestimate the company's revenue. Cyclically Adjusted PS Ratio can seem to be too high even the actual PS Ratio is low.

For the Cyclically Adjusted PS Ratio, the revenue per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/S calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PS Ratio is also called CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Walmart's Cyclically Adjusted PS Ratio of today is calculated as

Cyclically Adjusted PS Ratio	=	Share Price	/	Cyclically Adjusted Revenue per Share
	=	154.34	/	215.36
	=	0.72

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Walmart was 0.90. The lowest was 0.44. And the median was 0.68.

Be Aware

Cyclically Adjusted PS Ratio works better for cyclical companies. It gives you a better idea on the company's real revenue value.

Walmart Cyclically Adjusted Revenue per Share Related Terms

Thank you for viewing the detailed overview of Walmart's Cyclically Adjusted Revenue per Share provided by GuruFocus.com. Please click on the following links to see related term pages.

Walmart (NYSE:WMT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Retail - Defensive » Walmart Inc (NYSE:WMT) » Definitions » Cyclically Adjusted Revenue per Share

Comparable Companies

Traded in Other Exchanges

WMT:Peru WMT:Mexico WMTd:UK 0R1W:UK WMTD:Germany WMT:Germany WMT:Germany WMT:Germany WMT:Germany WMT:Chile WMT:Canada WALM34:Brazil WMT:Austria WMT:Argentina

Address

702 S.W. 8th Street, Bentonville, AR, USA, 72716

Website

https://stock.walmart.com

Walmart serves as the preeminent retailer in the United States, with its strategy predicated on superior operating efficiency and offering the lowest priced goods to consumers to drive robust store traffic and product turnover. Walmart augmented its low-price business strategy by offering a convenient one-stop shopping destination with the opening of its first supercenter in 1988.Today, Walmart operates over 4,700 stores in the United States (5,300 including Sam's Club) and over 10,000 stores globally. Walmart generated over $420 billion in domestic namesake sales last year, with Sam's Club contributing another $84 billion to the firm's top line. Internationally, Walmart generated $100 billion in sales. The company serves around 240 million customers globally.

Executives

Christopher James Nicholas	officer: Executive Vice President	702 SW 8TH STREET, BENTONVILLE AR 72716
John D Rainey	officer: Executive Vice President	C/O PAYPAL HOLDINGS, INC., 2211 NORTH FIRST STREET, SAN JOSE CA 95131
Randall L Stephenson	director	208 S. AKARD ST., DALLAS TX 75202
Donna Morris	officer: Executive Vice President	345 PARK AVENUE, SAN JOSE CA 95110
Kathryn J. Mclay	officer: Executive Vice President	702 S.W. 8TH STREET, BENTONVILLE AR 72716
Suresh Kumar	officer: Chief Technology Officer	860 W. CALIFORNIA AVE., SUNNYVALE CA 94086
Cesar Conde	director	ONE OWENS CORNING PARKWAY, TOLEDO OH 43659
Stephen Easterbrook	director	MCDONALD'S CORPORATION, 110 NORTH CARPENTER STREET, CHICAGO IL 60607
Rachel L Brand	officer: Executive Vice President	702 S.W. 8TH STREET, BENTONVILLE AR 72716
Sarah Friar	director	C/O NEXTDOOR HOLDINGS, INC., 420 TAYLOR STREET, SAN FRANCISCO CA 94102
Judith J Mckenna	officer: Executive Vice President	702 S.W. 8TH STREET, BENTONVILLE AR 72716
Carla A Harris	director	702 SW 8TH STREET, BENTONVILLE AR 72716
John R. Furner	officer: Executive Vice President	702 SW 8TH STREET, BENTONVILLE AR 72716
David Chojnowski	officer: Senior Vice President	5505 BLUE LAGOON DRIVE, MIAMI FL 33126
Marc E. Lore	officer: Executive Vice President	443 GREENWICH STREET, PHA, NEW YORK NY 10013