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INCOME STATEMENT

Best Buy Co., Inc. 
Consolidated Statements of Earnings
$ and shares in millions, except per share amounts
BBY
Retail industry
Products: Consumer electronics and appliances
Competitors: WalMart, Target, Costco, Amazon, Sears and Staples
Fiscal Years Ended 1-Feb-20 2-Feb-19 3-Feb-18
Revenue $ 43,638  $ 42,879  $ 42,151 
Cost of sales 33,590  32,918  32,275 
Gross profit $ 10,048.0 $ 9,961 $ 9,876.00
Selling, general and administrative expenses 7,998  8,015  8,023 
Restructuring charges 41  46  10 
Operating income $ 2,009 $ 1,900 1843
Other income (expense):
Gain on sale of investments 1  12  1 
Investment income and other 47  49  48 
Interest expense -64 -73 -75
Earnings from continuing operations before income tax expense $ 1,993 $ 1,888 $ 1,817
Income tax expense 452  424  818 
Net earnings from continuing operations $ 1,541 $ 1,464 $ 999
Gain from discontinued operations, net of $0 tax expense - - 1 
Net earnings $ $ 1,541 $ $ 1,464 $ $ 1,000

BALANCE SHEET

Best Buy Co., Inc. 
Consolidated Balance Sheets
$ in millions, except per share and share amounts
BBY
Retail industry
Products: Consumer electronics and appliances
Competitors: WalMart, Target, Costco, Amazon, Sears and Staples
1-Feb-20 2-Feb-19
Assets
Current assets
Cash and cash equivalents $ 2,229  $ 1,980 
Receivables, net 1,149  1,015 
Merchandise inventories 5,174  5,409 
Other current assets 305  466 
Total current assets $ 8,857 $ 8,870
Property and equipment
Land and buildings 650  637 
Leasehold improvements 2,203  2,119 
Fixtures and equipment 6,286  5,865 
Property under capital and financing leases - 579 
Property under finance leases 89  -
Gross property and equipment $ 9,228 $ 9,200
Less accumulated depreciation 6,900  6,690 
Net property and equipment $ 2,328 $ 2,510
Operating lease assets 2,709  -
Goodwill 984  915 
Other assets 713  606 
Total assets $ 15591 $ 12901
Liabilities and equity
Current liabilities
Accounts payable $ 5,288  $ 5,257 
Unredeemed gift card liabilities 281  290 
Deferred revenue 501  446 
Accrued compensation and related expenses 410  482 
Accrued liabilities 906  982 
Current portion of operating lease liabilities 660  -
Current portion of long-term debt 14  56 
Total current liabilities 8060 7513
Long-term operating lease liabilities 2,138  -
Long-term liabilities 657  750 
Long-term debt 1,257  1,332 
Contingencies and commitments (Note 13)
Equity
Best Buy Co., Inc. Shareholders' Equity
Preferred stock, $1.00 par value: Authorized 400,000 shares; Issued and outstanding none - -
Common stock, $0.10 par value: Authorized 1.0 billion shares; Issued and outstanding 256,494,000 and 265,703,000 shares, respectively 26  27 
Additional paid-in capital - -
Retained earnings 3,158  2,985 
Accumulated other comprehensive income 295  294 
Total equity 3479 3306
Total liabilities and equity $ 15591 $ 12901

CASH FLOW

Best Buy Co., Inc. 
Consolidated Statements of Cash Flows
$ in millions
BBY
Retail industry
Products: Consumer electronics and appliances
Competitors: WalMart, Target, Costco, Amazon, Sears and Staples
Fiscal Years Ended 1-Feb-20 2-Feb-19 3-Feb-18
Operating activities
Net earnings $ 1,541  $ 1,464  $ 1,000 
Adjustments to reconcile net earnings to total cash provided by operating activities:
Depreciation and amortization 812  770  683 
Restructuring charges 41  46  10 
Stock-based compensation 143  123  129 
Deferred income taxes 70  10  162 
Other, net 21  -25 -13
Changes in operating assets and liabilities, net of acquired assets and liabilities:
Receivables -131 28  315 
Merchandise inventories 237  -194 -335
Other assets 16  -34 -21
Accounts payable 47  432  -196
Income taxes -132 22  290 
Other liabilities -100 -234 117 
Total cash provided by operating activities 2565 2408 2,141 
Investing activities
Additions to property and equipment, net of $10, $53 and $123, respectively, of non-cash capital expenditures -743 -819 -688
Purchases of investments -330 - -4,325
Sales of investments 322  2,098  4,018 
Acquisitions, net of cash acquired -145 -787 -
Other, net 1  16  -7
Total cash provided by (used in) investing activities -895 508 -1,002
Financing activities
Repurchase of common stock -1,003 -1,505 -2,004
Issuance of common stock 48  38  163 
Dividends paid -527 -497 -409
Borrowings of debt - 498  -
Repayments of debt -15 -546 -46
Other, net -1 -6 -1
Total cash used in financing activities -1,498 -2,018 -2,297
Effect of exchange rate changes on cash -1 -14 25 
Increase (decrease) in cash, cash equivalents and restricted cash 171  884  -1,133
Cash, cash equivalents and restricted cash at beginning of period 2,184  1,300  2,433 
Cash, cash equivalents and restricted cash at end of period $ 2355 $ 2184 $ 1300
References
Best Buy Co., Inc. (2020). Best Buy Co., Inc. (BBY). Yahoo Finance - Stock Market Live, Quotes, Business & Finance News. https://finance.yahoo.com/quote/BBY/cash-flow?p=BBY
UNITED STATES SECURITIES AND EXCHANGE COMMISSION. (2020, February 1). Inline XBRL viewer. SEC.gov. https://www.sec.gov/ix?doc=/Archives/edgar/data/764478/000076447820000017/bby-20200201x10k.htm
https://finance.yahoo.com/quote/BBY/cash-flow?p=BBY https://www.sec.gov/ix?doc=/Archives/edgar/data/764478/000076447820000017/bby-20200201x10k.htm

Walmart IS

Walmart income statement
value USD million
Fiscal year is January-December. All values USD Millions. 2019 2018 2017 Fiscal year is February-January. All values USD Millions. 2020 2019 2018 2017 2016 5-year trend
Sales/Revenue 514,405 499,909 485,144 Sales/Revenue 523,964 514,405 499,909 485,144 482,130
Sales Growth 0 0 0 Sales Growth 1.86% 2.90% 3.04% 0.63% -
385,301 373,396 361,256 Cost of Goods Sold (COGS) incl. D&A 394,605 385,301 373,396 361,256 360,984
Cost of Goods Sold (COGS) incl. D&A 374,623 362,867 351,176 COGS excluding D&A 383,618 374,623 362,867 351,176 351,530
COGS excluding D&A 10,678 10,529 10,080 Depreciation & Amortization Expense 10,987 10,678 10,529 10,080 9,454
Depreciation & Amortization Expense 10,678 10,529 10,080 Depreciation 10,987 10,678 10,529 10,080 9,454
Depreciation 0 0 0 COGS Growth 2.41% 3.19% 3.36% 0.08% -
Amortization of Intangibles 129,104 126,513 123,888 Gross Income 129,359 129,104 126,513 123,888 121,146
COGS Growth 0 0 0 Gross Income Growth 0.20% 2.05% 2.12% 2.26% -
- - - Gross Profit Margin 24.69% - - - -
Gross Income 105,947 105,310 101,853 SG&A Expense 107,891 105,947 105,310 101,853 97,041
Gross Income Growth 105,947 105,310 101,853 Other SG&A 107,891 105,947 105,310 101,853 97,041
Gross Profit Margin 0 0 0 SGA Growth 1.83% 0.60% 3.39% 4.96% -
SG&A Expense 23,157 21,203 22,035 EBIT 21,468 23,157 21,203 22,035 24,105
Other SG&A 9,568 4,336 - Unusual Expense -1,058 9,568 4,336 - -
SGA Growth 0 0 0
49 435 772 Non Operating Income/Expense - 49 435 772 15
EBIT 217 152 100 Non-Operating Interest Income 189 217 152 100 81
Unusual Expense 2,395 2,331 2,410 Interest Expense 2,599 2,395 2,331 2,410 2,563
0 -0 -0 Interest Expense Growth 8.52% 2.75% -3.28% -5.97% -
Non Operating Income/Expense 0 0 0
Non-Operating Interest Income 2,395 2,348 2,446 Gross Interest Expense 2,599 2,395 2,348 2,446 2,602
Equity in Affiliates (Pretax) - 17 36 Interest Capitalized - - 17 36 39
11,460 15,123 20,497 Pretax Income 20,116 11,460 15,123 20,497 21,638
Interest Expense 34 34 67 Pretax Income Growth 75.53% -24.22% -26.22% -5.27% -
Interest Expense Growth 0 0 0
Gross Interest Expense - - - Pretax Margin 3.84% - - - -
Interest Capitalized 4,281 4,600 6,204 Income Tax 4,915 4,281 4,600 6,204 6,558
Pretax Income 3,256 3,403 3,949 Income Tax - Current Domestic 3,381 3,256 3,403 3,949 6,184
Pretax Income Growth 1,495 1,377 1,510 Income Tax - Current Foreign 1,205 1,495 1,377 1,510 1,400
-377 -34 1,105 Income Tax - Deferred Domestic 698 -377 -34 1,105 -810
Pretax Margin 0 0 0
Income Tax -93 -146 -360 Income Tax - Deferred Foreign -369 -93 -146 -360 -216
Income Tax - Current Domestic 0 0 0
Income Tax - Current Foreign 7,179 10,523 14,293 Consolidated Net Income 15,201 7,179 10,523 14,293 15,080
Income Tax - Deferred Domestic 509 661 650 Minority Interest Expense 320 509 661 650 386
6,670 9,862 13,643 Net Income 14,881 6,670 9,862 13,643 14,694
Income Tax - Deferred Foreign -0 -0 -0 Net Income Growth 123.10% -32.37% -27.71% -7.15% -
0 0 0
Consolidated Net Income - - - Net Margin 2.84% - - - -
Net Income 6,670 9,862 13,643 Net Income After Extraordinaries 14,881 6,670 9,862 13,643 14,694
Net Income Growth 6,670 9,862 13,643 Net Income Available to Common 14,881 6,670 9,862 13,643 14,694
Net Margin 2 3 4 EPS (Basic) 5.19 2.26 3.28 4.38 4.57
Net Income After Extraordinaries -0 -0 -0 EPS (Basic) Growth 129.58% -31.10% -25.11% -4.16% -
Net Income Available to Common 0 0 0
EPS (Basic) 2,929 2,995 3,101 Basic Shares Outstanding 2,850 2,929 2,995 3,101 3,207
EPS (Basic) Growth 2 3 4 EPS (Diluted) 5.19 2.26 3.28 4.38 4.57
Basic Shares Outstanding -0 -0 -0 EPS (Diluted) Growth 129.09% -30.87% -25.26% -4.02% -
EPS (Diluted) 0 0 0
EPS (Diluted) Growth 2,945 3,010 3,112 Diluted Shares Outstanding 2,868 2,945 3,010 3,112 3,217
Diluted Shares Outstanding 33,835 31,732 32,115 EBITDA 32,455 33,835 31,732 32,115 33,559
EBITDA 0 -0 -0 EBITDA Growth -4.08% 6.63% -1.19% -4.30% -
EBITDA Growth 0 0 0
EBITDA Margin - - - EBITDA Margin 6.19% - - - -
EBIT 23,157 21,203 22,035 EBIT 21,468 23,157 21,203 22,035 24,105

walmart BS

walmart income statement
value in USD million
Fiscal year is January-December. All values USD Millions. 2019 2018 2017 Fiscal year is February-January. All values USD Millions. 2020 2019 2018 2017 2016 5-year trend
Cash & Short Term Investments 7,756 6,756 6,867 Cash & Short Term Investments 9,465 7,756 6,756 6,867 8,705
Cash Only 7,756 6,756 6,867 Cash Only 9,465 7,756 6,756 6,867 8,705
Cash & Short Term Investments Growth 0 -0 -0 Cash & Short Term Investments Growth 22.03% 14.80% -1.62% -21.11% -
0 0 0
Cash & ST Investments / Total Assets 0 0 0 Cash & ST Investments / Total Assets 4.00% 3.54% 3.30% 3.45% 4.36%
Total Accounts Receivable 6,283 5,614 5,835 Total Accounts Receivable 6,284 6,283 5,614 5,835 5,624
Accounts Receivables, Net 6,283 5,614 5,835 Accounts Receivables, Net 6,284 6,283 5,614 5,835 5,624
Accounts Receivables, Gross 6,283 5,614 5,914 Accounts Receivables, Gross 6,284 6,283 5,614 5,914 5,694
Accounts Receivable Growth - - -79 Bad Debt/Doubtful Accounts - - - -79 -70
0 0 0
Accounts Receivable Turnover 82 89 83 Accounts Receivable Growth 0.02% 11.92% -3.79% 3.75% -
Inventories 44,269 43,783 43,046
Finished Goods 44,269 43,783 43,046 Accounts Receivable Turnover 83.38 81.87 89.05 83.14 85.73
Other Current Assets 3,589 3,511 1,941 Inventories 44,435 44,269 43,783 43,046 44,469
Miscellaneous Current Assets 3,589 3,511 1,941 Finished Goods 44,435 44,269 43,783 43,046 44,469
Total Current Assets 61,897 59,664 57,689 Other Current Assets 1,622 3,589 3,511 1,941 1,441
Net Property, Plant & Equipment 111,395 114,818 114,178 Miscellaneous Current Assets 1,622 3,589 3,511 1,941 1,441
Property, Plant & Equipment - Gross 198,570 197,857 191,129 Total Current Assets 61,806 61,897 59,664 57,689 60,239
Buildings 101,006 101,155 98,547 Net Property, Plant & Equipment 127,049 111,395 114,818 114,178 116,516
Land & Improvements 24,526 25,298 24,801 Property, Plant & Equipment - Gross 216,869 198,570 197,857 191,129 188,054
Machinery & Equipment 3,474 3,619 4,301 Buildings 105,674 101,006 101,155 98,547 96,845
Other Property, Plant & Equipment 54,488 52,695 48,998 Land & Improvements 24,619 24,526 25,298 24,801 25,624
Accumulated Depreciation 87,175 83,039 76,951 Construction in Progress 3,751 3,474 3,619 4,301 4,539
Total Investments and Advances - - - Leases 4,417 12,760 12,703 11,637 11,096
LT Investment - Affiliate Companies - - - Transportation Equipment 2,377 2,316 2,387 2,845 2,917
Other Long-Term Investments - - - Other Property, Plant & Equipment 58,607 54,488 52,695 48,998 47,033
Intangible Assets 31,181 18,242 17,037 Accumulated Depreciation 89,820 87,175 83,039 76,951 71,538
Net Goodwill 31,181 18,242 17,037 Total Investments and Advances 5,438 - - - -
Other Assets - - - Other Long-Term Investments 5,438 - - - -
Tangible Other Assets 13,026 9,919 8,356 Intangible Assets 36,273 31,181 18,242 17,037 17,093
total fixed asset 656,022 624,884 601,335
Total Assets 219,295 204,522 198,825 Net Goodwill 31,073 31,181 18,242 17,037 16,695
Assets - Total - Growth 0 0 -0 Net Other Intangibles 5,200 - - - 398
0 0 0 Other Assets 4,015 13,026 9,919 8,356 4,229
Asset Turnover - - - Tangible Other Assets 4,015 13,026 9,919 8,356 4,229
Return On Average Assets - - - Total Assets 236,495 219,295 204,522 198,825 199,581
0 0 0 Assets - Total - Growth 7.84% 7.22% 2.87% -0.38% -
Liabilities & Shareholders' Equity 2,019 2,018 2,017
Asset Turnover 2.3 - - - -
All values USD Millions. Return On Average Assets 6.53% - - - -
ST Debt & Current Portion LT Debt 7,830 9,662 3,920 Liabilities & Shareholders' Equity
Short Term Debt 5,225 5,257 1,099 All values USD Millions. 2020 2019 2018 2017 2016 5-year trend
Current Portion of Long Term Debt 2,605 4,405 2,821 ST Debt & Current Portion LT Debt 8,241 7,830 9,662 3,920 6,004
Accounts Payable 47,060 46,092 41,433 Short Term Debt 2,368 5,225 5,257 1,099 2,708
Accounts Payable Growth 0 0 0 Current Portion of Long Term Debt 5,873 2,605 4,405 2,821 3,296
0 0 0 Accounts Payable 46,973 47,060 46,092 41,433 38,487
Income Tax Payable 428 645 921 Accounts Payable Growth -0.18% 2.10% 11.24% 7.65% -
Other Current Liabilities 22,159 22,122 20,654
Accrued Payroll 6,504 6,998 6,105 Income Tax Payable 280 428 645 921 521
Miscellaneous Current Liabilities 15,655 15,124 14,549 Other Current Liabilities 22,296 22,159 22,122 20,654 19,607
Total Current Liabilities 77,477 78,521 66,928 Accrued Payroll 6,093 6,504 6,998 6,105 5,814
Current Ratio 1 1 1 Miscellaneous Current Liabilities 16,203 15,655 15,124 14,549 13,793
Quick Ratio 0 0 0 Total Current Liabilities 77,790 77,477 78,521 66,928 64,619
Cash Ratio 0 0 0 Current Ratio 0.79 0.8 0.76 0.86 0.93
Long-Term Debt 50,203 36,825 42,018 Quick Ratio 0.22 0.23 0.2 0.22 0.24
Long-Term Debt excl. Capitalized Leases 43,520 30,045 36,015 Cash Ratio 0.12 0.1 0.09 0.1 0.13
Non-Convertible Debt 43,520 30,045 36,015 Long-Term Debt 64,192 50,203 36,825 42,018 44,030
Deferred Taxes 6,683 6,780 6,003 Long-Term Debt excl. Capitalized Leases 43,714 43,520 30,045 36,015 38,214
175 184 203 Non-Convertible Debt 43,714 43,520 30,045 36,015 38,214
Deferred Taxes - Credit 4,500 1,952 2,768 Capitalized Lease Obligations 4,307 6,683 6,780 6,003 5,816
Deferred Taxes - Debit 6,296 3,831 4,333 Provision for Risks & Charges 140 175 184 203 205
Other Liabilities 1,796 1,879 1,565 Deferred Taxes 4,290 4,500 1,952 2,768 1,853
Other Liabilities (excl. Deferred Income) 5,510 4,339 4,808 Deferred Taxes - Credit 6,204 6,296 3,831 4,333 3,357
Deferred Income 5,510 4,339 4,808 Deferred Taxes - Debit 1,914 1,796 1,879 1,565 1,504
Total Liabilities 139,661 123,700 118,290 Other Liabilities 6,617 5,510 4,339 4,808 3,759
Total Liabilities / Total Assets 1 1 1 Other Liabilities (excl. Deferred Income) 6,617 5,510 4,339 4,808 3,759
Common Equity (Total) 72,496 77,869 77,798 Total Liabilities 154,943 139,661 123,700 118,290 115,970
Total Liabilities / Total Assets 65.52% 63.69% 60.48% 59.49% 58.11%
Common Stock Par/Carry Value 288 295 305 Common Equity (Total) 74,669 72,496 77,869 77,798 80,546
Additional Paid-In Capital/Capital Surplus 2,965 2,648 2,371 Common Stock Par/Carry Value 284 288 295 305 317
Retained Earnings 80,785 85,107 89,354 Additional Paid-In Capital/Capital Surplus 3,247 2,965 2,648 2,371 1,805
Cumulative Translation Adjustment/Unrealized For. Exch. Gain -12,085 -12,136 -14,362 Retained Earnings 83,943 80,785 85,107 89,354 90,021
0 0 0 Cumulative Translation Adjustment/Unrealized For. Exch. Gain -11,827 -12,085 -12,136 -14,362 -11,690
Other Appropriated Reserves - 1,646 -
543 309 130 Unrealized Gain/Loss Marketable Securities - - 1,646 - -
Treasury Stock 0 0 0 Other Appropriated Reserves -978 543 309 130 93
0 0 0
Common Equity / Total Assets Common Equity / Total Assets 31.57% 33.06% 38.07% 39.13% 40.36%
Total Shareholders' Equity 74,669 72,496 77,869 77,798 80,546
Total Shareholders' Equity 72,496 77,869 77,798 Total Shareholders' Equity / Total Assets 31.57% 33.06% 38.07% 39.13% 40.36%
0 0 0 Accumulated Minority Interest 6,883 7,138 2,953 2,737 3,065
Total Shareholders' Equity / Total Assets Total Equity 81,552 79,634 80,822 80,535 83,611
Accumulated Minority Interest 7,138 2,953 2,737 Liabilities & Shareholders' Equity 236,495 219,295 204,522 198,825 199,581
Total Equity 79,634 80,822 80,535
Liabilities & Shareholders' Equity 219,295 204,522 198,825

walmart CF

Fiscal year is January-December. All values USD Millions. 2019 2018 2017 2016 2015 5-year trend
Net Income before Extraordinaries 6,161 10,523 14,293 4,687 4,529
Net Income Growth -41.45% -26.38% -5.22% 3.47% -
Depreciation, Depletion & Amortization 1,517 1,556
Depreciation and Depletion 10,678 10,529 10,080 1,391 1,438
Amortization of Intangible Assets 10,678 10,529 10,080 126 118
Deferred Taxes & Investment Tax Credit -499 -304 761 -539 -1
Deferred Taxes -499 -304 761 -539 -1
Other Funds 11,118 4,346 206 228 288
Funds from Operations 27,458 25,094 25,340 5,893 6,371
Changes in Working Capital 295 3,243 6,190 167 168
Receivables -368 -1,074 -402 -159 -181
-1,311 -140 1,021
Accounts Payable 1,831 4,086 3,942 90 -15
Income Taxes Payable -40 -557 492 170 -64
Other Accruals 183 928 1,137 38 383
Other Assets/Liabilities 28 45
Net Operating Cash Flow 27,753 28,337 31,530 6,060 6,539
Net Operating Cash Flow Growth -2.06% -10.13% 15.12% -7.33% -
Net Operating Cash Flow / Sales 5.40% 5.67% 6.50% 24.61% 25.73%
Investing Activities
2019 2018 2017
All values USD Millions. 2016 2015 5-year trend
Capital Expenditures -10,344 -10,051 -10,619 -1,821 -1,814
Capital Expenditures (Fixed Assets) -10,344 -10,051 -10,619 -1,821 -1,814
Capital Expenditures Growth -2.92% 5.35% 7.48% -0.40% -
Capital Expenditures / Sales -2.01% -2.01% -2.19% -7.40% -7.14%
Net Assets from Acquisitions -14,656 -383 -2,553 -110 -141
Sale of Fixed Assets & Businesses 1,395 1,424 1,118 1,059 554
Other Uses - - -1,901 -284 -20
Net Investing Cash Flow - - -1,901 -1,156 -1,420
-431 -58 -122
Net Investing Cash Flow Growth -24,036 -9,068 -14,077 18.62% -
Net Investing Cash Flow / Sales -165.06% 35.58% -17.30% -4.69% -5.59%
-4.67% -1.81% -2.90%
Financing Activities
All values USD Millions. 2019 2018 2017 2016 2015 5-year trend
Cash Dividends Paid - Total -6,102 -6,124 -6,216 -3,058 -3,230
Common Dividends -6,102 -6,124 -6,216 -3,058 -3,230
Change in Capital Stock -7,410 -8,296 -8,298 -10,872 -5,782
Repurchase of Common & Preferred Stk. -7,410 -8,296 -8,298 -11,171 -6,099
Sale of Common & Preferred Stock 12,035 -1,437 -3,591 299 317
Other Proceeds from Sale of Stock 299 317
Issuance/Reduction of Debt, Net -53 4,148 -1,673 2,670 9,755
Change in Current Debt -286 590
12,088 -5,585 -1,918
Change in Long-Term Debt 2,957 9,166
Issuance of Long-Term Debt 15,872 7,476 137 3,780 10,220
Reduction in Long-Term Debt -3,784 -13,061 -2,055 -823 -1,055
Other Funds -1,060 -4,010 -734 -3 -8
Other Uses -1,060 -4,010 -734 -3 -59
Other Sources -2,537 -19,867 -18,839 - 51
Net Financing Cash Flow -11,262 735
Net Financing Cash Flow Growth 87.23% -5.46% -27.32% -1631.67% -
Net Financing Cash Flow / Sales -0.49% -3.97% -3.88% -45.74% 2.89%
Exchange Rate Effect -438 487 -452 -104 -247
Net Change in Cash 742 -111 -1,838 -6,462 5,608
Free Cash Flow 17,409 18,286 20,911 4,239 4,725
Free Cash Flow Growth -4.80% -12.55% 31.42% -10.30% -
Free Cash Flow Yield - - - - -
- -

target IS

Target Corp.
All values USD Millions.
Fiscal year is February-January. All values USD Millions. 2019 2018 2017 2016 5-year trend
Sales/Revenue 75,356 72,714 69,495 73,785
Sales Growth 3.63% 4.63% -5.81% -
Cost of Goods Sold (COGS) incl. D&A 55,523 53,350 51,170 54,210
COGS excluding D&A 53,049 50,874 48,872 51,997
Depreciation & Amortization Expense 2,474 2,476 2,298 2,213
Depreciation 2,460 2,462 2,280 2,190
Amortization of Intangibles 14 14 18 23
COGS Growth 4.07% 4.26% -5.61% -
Gross Income 19,833 19,364 18,325 19,575
Gross Income Growth 2.42% 5.67% -6.39% -
Gross Profit Margin - - - -
SG&A Expense 15,631 15,049 13,945 15,040
Other SG&A 15,631 15,049 13,945 15,040
SGA Growth 3.87% 7.92% -7.28% -
EBIT 4,202 - 4,380 4,535
Unusual Expense 95 205 472 230
Non Operating Income/Expense 28 59 668 1,263
Interest Expense 459 539 611 645
Interest Expense Growth -14.84% -11.78% -5.27% -
Gross Interest Expense 459 539 631 661
Interest Capitalized - - 20 16
Pretax Income 3,676 3,630 3,965 4,923
Pretax Income Growth 1.27% -8.45% -19.46% -
Pretax Margin - - - -
Income Tax 746 722 1,296 1,602
Income Tax - Current Domestic 373 851 1,249 1,917
Income Tax - Current Foreign 51 59 6 7
Income Tax - Deferred Domestic 320 -202 42 -322
Income Tax - Deferred Foreign 2 14 -1 -
Consolidated Net Income 2,930 2,908 2,669 3,321
Net Income 2,930 2,908 2,669 3,321
Net Income Growth 0.76% 8.95% -19.63% -
Net Margin - - - -
Extraordinaries & Discontinued Operations 7 6 68 42
Discontinued Operations 7 6 68 42
Net Income After Extraordinaries 2,923 2,902 2,601 3,279
Net Income Available to Common 2,937 2,914 2,737 3,363
EPS (Basic) 5.51 5.3 4.7 5.31
EPS (Basic) Growth 4.02% 12.67% -11.49% -
Basic Shares Outstanding 529 547 578 628
EPS (Diluted) 5.51 5.3 4.7 5.31
EPS (Diluted) Growth 4.02% 12.70% -11.57% -
Diluted Shares Outstanding 533 550 583 633
EBITDA 6,676 6,791 6,678 6,748
EBITDA Growth -1.69% 1.69% -1.04% -
EBITDA Margin - - - -
EBIT 4,202 - 4,380 4,535

Target BS

Fiscal year is February-January. All values USD Millions. 2019 2018 2017 2016 5-year trend
Cash & Short Term Investments 1,556 2,643 2,512 4,046
Cash Only 1,556 2,643 2,512 4,046
Short-Term Investments - - - -
Cash & Short Term Investments Growth -41.13% 5.21% -37.91% -
Cash & ST Investments / Total Assets 3.77% 6.56% 6.71% 10.05%
Total Accounts Receivable 1,100 929 749 779
Accounts Receivables, Net 468 416 385 379
Accounts Receivables, Gross 468 416 385 379
Other Receivables 632 513 364 400
Accounts Receivable Growth 18.41% 24.03% -3.85% -
Accounts Receivable Turnover 68.51 78.27 92.78 94.72
Inventories 9,497 8,597 8,309 8,601
Finished Goods 9,497 8,597 8,309 8,601
Other Current Assets 366 371 420 704
Prepaid Expenses 157 157 207 214
Miscellaneous Current Assets 209 214 213 490
Total Current Assets 12,519 12,540 11,990 14,130
Net Property, Plant & Equipment 27,498 26,420 24,658 25,217
Property, Plant & Equipment - Gross 46,185 44,818 42,071 41,463
Buildings 29,240 28,131 27,611 27,059
Land & Improvements 6,064 6,095 6,106 6,125
Construction in Progress 460 440 200 315
Computer Software and Equipment 2,544 2,645 2,651 2,617
Other Property, Plant & Equipment 5,912 5,623 5,503 5,347
Accumulated Depreciation 18,687 18,398 17,413 16,246
Total Investments and Advances 380 383 345 335
Other Long-Term Investments 380 383 345 335
Intangible Assets 699 709 183 193
Net Goodwill 633 630 133 133
Net Other Intangibles 66 79 50 60
Other Assets 194 251 255 387
Deferred Charges 11 46 119 150
Tangible Other Assets 183 205 136 237
Total Assets 41,290 40,303 37,431 40,262
Assets - Total - Growth 2.45% 7.67% -7.03% -
Asset Turnover - - - -
Return On Average Assets - - - -
Liabilities & Shareholders' Equity
All values USD Millions. 2019 2018 2017 2016 5-year trend
ST Debt & Current Portion LT Debt 1,218 429 1,718 815
Short Term Debt 166 148 - -
Current Portion of Long Term Debt 1,052 281 1,718 815
Accounts Payable 9,761 8,677 7,252 7,418
Accounts Payable Growth 12.49% 19.65% -2.24% -
Income Tax Payable - - 158 502
Other Current Liabilities 4,035 3,946 3,580 3,887
Dividends Payable 331 336 334 337
Accrued Payroll 1,371 1,350 953 1,030
Miscellaneous Current Liabilities 2,333 2,260 2,293 2,520
Total Current Liabilities 15,014 13,052 12,708 12,622
Current Ratio 0.83 0.96 0.94 1.12
Quick Ratio 0.2 0.3 0.29 0.44
Cash Ratio 0.1 0.2 0.2 0.32
Long-Term Debt 12,227 13,041 11,031 11,945
Long-Term Debt excl. Capitalized Leases 9,300 11,117 10,088 11,145
Non-Convertible Debt 9,300 11,117 10,088 11,145
Capitalized Lease Obligations 923 - 943 800
Provision for Risks & Charges 40 41 46 54
Deferred Taxes 972 693 861 823
Deferred Taxes - Credit 972 693 861 823
Other Liabilities 1,740 1,825 1,832 1,861
Other Liabilities (excl. Deferred Income) 1,170 1,225 1,202 1,201
Deferred Income 570 600 630 660
Total Liabilities 29,993 28,652 26,478 27,305
Total Liabilities / Total Assets 72.64% 71.09% 70.74% 67.82%
Common Equity (Total) 11,297 11,651 10,953 12,957
Common Stock Par/Carry Value 43 45 46 50
Additional Paid-In Capital/Capital Surplus 6,042 5,858 5,661 5,348
Retained Earnings 6,017 6,495 5,884 8,188
Cumulative Translation Adjustment/Unrealized For. Exch. Gain -20 -13 -21 -22
Other Appropriated Reserves -785 -734 -617 -607
Common Equity / Total Assets 27.36% 28.91% 29.26% 32.18%
Total Shareholders' Equity 11,297 11,651 10,953 12,957
Total Shareholders' Equity / Total Assets 27.36% 28.91% 29.26% 32.18%
Total Equity 11,297 11,651 10,953 12,957
Liabilities & Shareholders' Equity 41,290 40,303 37,431 40,262

Target CF

Fiscal year is February-January. All values USD Millions. 2020 2019 2018 2017 2016 5-year trend
Net Income before Extraordinaries 3,269 2,930 2,908 2,737 3,363
Net Income Growth 11.57% 0.76% 6.25% -18.61% -
Depreciation, Depletion & Amortization 2,604 2,474 2,476 2,298 2,213
Depreciation and Depletion 2,591 2,460 2,462 2,280 2,190
Amortization of Intangible Assets 13 14 14 18 23
Deferred Taxes & Investment Tax Credit 178 322 -188 41 -322
Deferred Taxes 178 322 -188 41 -322
Other Funds 204 230 517 574 145
Funds from Operations 6,255 5,956 5,713 5,650 5,399
Changes in Working Capital 862 17 1,222 -214 445
Inventories 505 -900 -348 293 -316
Accounts Payable 140 1,127 1,307 -543 534
Other Accruals 199 89 419 - -
Other Assets/Liabilities 18 -299 -156 36 227
Net Operating Cash Flow 7,117 5,973 6,935 5,436 5,844
Net Operating Cash Flow Growth 19.15% -13.87% 27.58% -6.98% -
Net Operating Cash Flow / Sales 9.11% 7.93% 9.54% 7.82% 7.92%
Investing Activities
All values USD Millions. 2020 2019 2018 2017 2016 5-year trend
Capital Expenditures -3,027 -3,516 -2,533 -1,547 -1,438
Capital Expenditures (Fixed Assets) -3,027 -3,516 -2,533 -1,547 -1,438
Capital Expenditures Growth 13.91% -38.81% -63.74% -7.58% -
Capital Expenditures / Sales -3.88% -4.67% -3.48% -2.23% -1.95%
Net Assets from Acquisitions - - -518 - -
Sale of Fixed Assets & Businesses 63 85 31 46 1,903
Purchase/Sale of Investments 20 15 -55 28 24
Purchase of Investments - - -55 - -
Sale/Maturity of Investments 20 15 - 28 24
Other Sources - - - - 19
Net Investing Cash Flow -2,944 -3,416 -3,075 -1,473 508
Net Investing Cash Flow Growth 13.82% -11.09% -108.76% -389.96% -
Net Investing Cash Flow / Sales -3.77% -4.53% -4.23% -2.12% 0.69%
Financing Activities
All values USD Millions. 2020 2019 2018 2017 2016 5-year trend
Cash Dividends Paid - Total -1,330 -1,335 -1,338 -1,348 -1,362
Common Dividends -1,330 -1,335 -1,338 -1,348 -1,362
Change in Capital Stock -1,492 -2,028 -938 -3,485 -3,438
Repurchase of Common & Preferred Stk. -1,565 -2,124 -1,046 -3,706 -3,438
Sale of Common & Preferred Stock 73 96 108 221 -
Other Proceeds from Sale of Stock 73 96 108 221 -
Issuance/Reduction of Debt, Net -330 -281 -1,453 -664 -85
Change in Long-Term Debt -330 -281 -1,453 -664 -85
Issuance of Long-Term Debt 1,739 - 739 1,977 -
Reduction in Long-Term Debt -2,069 -281 -2,192 -2,641 -85
Other Funds - - - - 369
Other Sources - - - - 369
Net Financing Cash Flow -3,152 -3,644 -3,729 -5,497 -4,516
Net Financing Cash Flow Growth 13.50% 2.28% 32.16% -21.72% -
Net Financing Cash Flow / Sales -4.04% -4.84% -5.13% -7.91% -6.12%
Net Change in Cash 1,021 -1,087 131 -1,534 1,836
Free Cash Flow 4,090 2,457 4,402 3,889 4,406
Free Cash Flow Growth 66.46% -44.18% 13.19% -11.73% -
Free Cash Flow Yield 4.83% - - - -

competition ratio

Walmart Target
2019 2018 2017 2019 2018 2017
liquid ratio quick ratio 0.23 0.20 0.22 0.19 0.29 0.27
current ratio 0.80 0.76 0.86 0.83 0.96 0.94
Leverage Ratios Debt to Total Assets Ratio 0.64 0.60 0.59 0.06 0.02 ERROR:#VALUE!
  Debt Equity Ratio 1.75 1.53 1.47 2.65 2.46 2.42
Long-Term Debt to Equity 0.63 0.46 0.52 1.08 1.12 1.01
Times Interest Earned Ratio 95.76 100.09 58.94 14.54 12.60 10.58
Activity Ratios inventory Turnover 11.62 11.42 11.27 7.93 8.46 8.36
   Fixed Assets Turnover 4.62 4.35 4.25 2.74 2.75 2.82
Total Assets Turnover 2.35 2.44 2.44 1.83 1.80 1.86
Accounts Receivable Turnover 0.00 0.00 0.00 0.00 0.00 0.00
Average Collection Period 0.00 0.00 0.00 0.00 0.00 0.00
Profitability Ratios   Gross Profit Margin 0.27 0.27 0.28 0.26 0.27 0.26
  Operating Profit Margin 0.25 0.25 0.26 0.21 0.21 0.21
Net Profit Margin 0.01 0.02 0.03 0.01 0.02 0.03
  Return on Total Assets (ROA) 2.35 2.44 2.44 1.83 1.80 1.86
Return on Stockholders’ Equity (ROE) 6.46 6.19 6.02 6.67 6.24 6.34
  Earnings Per Share (EPS) 2.26 3.28 4.38 5.51 5.30 4.70
  Price Earnings Ratio 0.05 0.07 0.11 0.17 0.18 0.08

Format: Annual

Format: Annual