Walmart Inc.

(NYSE: WMT)

Stock Price:
Shares Outstanding:
Market Cap
Risk Free Rate
YSE: WMT) Blue Hardcoded
Green From another sheet
Black Equations
$ 162.84 Red Assumptions
2,692,233,703
$ 438,403,336,196.52
4.18%
 Consolidated Balance Sheets - USD ($) $ in Millions

Current Assets
Cash and cash equivalents
Receivables, net
Inventories
Prepaid expenses and other
Total current assets
Non-current Assets
Property and equipment, net
As a % of Sales
Operating lease right-of-use assets
Finance lease right-of-use assets, net
Goodwill
Other long-term assets
Total non-current assets
Total Assets
Current Liabilities
Short-term borrowings
Accounts payable
Accrued liabilities
Accrued income taxes
Long-term debt due within one year
Operating lease obligations due within one year
Finance lease obligations due within one year
Total current liabilities
Non-current Liabilities
Long-term debt
Long-term operating lease obligations
Long-term finance lease obligations
Deferred income taxes and other
Commitments and contingencies
Redeemable noncontrolling interest
Total non-current liabilities
Total Liabilities
Stockholders' Equity
Common stock
Capital in excess of par value
Retained earnings
Accumulated other comprehensive loss
Total stockholders’ equity
Noncontrolling interests
Total Equity
Total Liabilities and Equity
 12 Months Ended
FY 2021 FY 2022 FY 2023 FY 2024E FY 2025E FY 2026E

$17,741 $ 14,760 $ 8,625

6,516 8,280 7,933 8,460 9,086 9,678
44,949 56,511 56,576 58,992 63,495 67,302
20,861 1,519 2,521 9,542 10,248 10,915
90,067 81,070 75,655 76,993 82,830 87,895

92,201 94,515 100,760 107,083 115,016 122,474

16.49% 16.50% 16.48% 16.49% 16.49% 16.49%
13,642 13,758 13,555
4,005 4,351 4,919
28,983 29,014 28,174
23,598 22,152 20,134
162,429 163,790 167,542
252,496 244,860 243,197

224 410 372

49,141 55,261 53,742 59,147 63,662 67,479
37,966 26,060 31,126 34,887 34,854 38,453
242 851 727
3,115 2,803 4,191
1,466 1,483 1,473
491 511 567
92,645 87,379 92,198 94,033 98,515 105,932

41,194 34,864 34,649

12,909 13,009 12,828
3,847 4,243 4,843
14,370 13,474 14,688

0 237
72,320 65,590 67,245
164,965 152,969 159,443

282 276 269

3,646 4,839 4,969
88,763 86,904 83,135
(11,766) (8,766) (11,680)
80,925 83,253 76,693
6,606 8,638 7,061
 87,531 91,891 83,754
252,496 244,860 243,197
FY 2027E FY 2028E FY 2029E

10,214 10,683 11,182

71,003 74,402 77,791
11,520 12,049 12,612
92,737 97,134 101,584

129,281 135,212 141,524

16.49% 16.49% 16.49%

71,190 74,598 77,995

41,010 42,104 44,465

112,200 116,701 122,461

Walmart Income Statements (Millions USD)

Net sales and revenue

Net Sales
Membership and Other Income
Total net sales and revenue
Perccent Growth From Last Period
Perccent Growth YoY
Costs and expenses
Cost of Sales
As a percentage of Total Costs and Expenses
COGS Margin
Gross Profit
As a % of Total Sales
Operating and other selling, general and administrative expense
(SG&A)
As a percentage of Total Costs and Expenses
Total costs and expenses
As a percentage of revenue
EBIT Operating income (loss)
EBIT Margin
Interest
Debt
Finance lease
Interest income
Interest, net
Loss on extinguishment of debt
Other (gains) and losses
Income before income taxes
Provision for income taxes
Consolidated net income
Consolidated net (income) loss attributable to noncontrolling
interest
Consolidated net income attributable to Walmart
Weighted-average common shares outstanding:
Basic (in shares)
Diluted (in shares)
Dividends declared per common share (in USD per share)
Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018

$ 116,526 $ 121,949 $ 122,136 $ 135,150 $ 495,761

1,016 1,406 1,043 1,117 $ 4,582
117,542 123,355 123,179 136,267 500,343

87,688 91,521 91,547 102,640 373,396

78.08% 77.97% 77.31% 77.88% 77.81%
74.60% 74.19% 74.32% 75.32% 74.63%
29,854 31,834 31,632 33,627 126,947
25.40% 25.81% 25.68% 24.68% 25.37%
24,617 25,865 26,868 29,160 106,510

21.92% 22.03% 22.69% 22.12% 22.19%

112,305 117,386 118,415 131,800 479,906
95.54% 95.16% 96.13% 96.72% 95.92%
5,237 5,969 4,764 4,467 20,437
4.46% 4.84% 3.87% 3.28% 4.08%

506 522 502 448 1,978

92 94 92 74 352
(35) (38) (42) (37) (152)
563 578 552 485 2,178
3136 3,136
0 556 1,934 2,857
4,674 4,835 2,278 (2,011) 15,123
1,522 1,502 975 601 4,600
3,152 3,333 1,303 (2,612) 10,523
(113) (205) (155) (188) (661)

3,039 3,128 1,148 (2,800) 9,862

3,035 3,008 2,981 2,959 2,995

3,047 3,021 2,996 2,978 3,010
$ 2.08 $ 2.08 $ 2.08 $ 2.08 $ 2.04
Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019

$ 121,630 $ 127,059 $ 123,897 $ 137,743 $ 510,329

1,060 969 997 1,050 $ 4,076
122,690 128,028 124,894 138,793 514,405
-9.96% 4.35% -2.45% 11.13%
4.38% 3.79% 1.39% 1.85% 2.81%

91,707 95,571 93,116 104,907 385,301

78.02% 78.16% 77.66% 79.04% 78.24%
74.75% 74.65% 74.56% 75.59% 74.90%
30,983 32,457 31,778 33,886 129,104
25.25% 25.35% 25.44% 24.41% 25.10%
25,829 26,707 26,792 27,819 107,147

21.98% 21.84% 22.34% 20.96% 21.76%

117,536 122,278 119,908 132,726 492,448
95.80% 95.51% 96.01% 95.63% 95.73%
5,154 5,750 4,986 6,067 21,957
4.20% 4.49% 3.99% 4.37% 4.27%

437 460 501 577 1,975

173 31 181 (14) 371
(43) (51) (59) (64) (217)
567 440 623 499 2,129
0
1,765 4,912 1,787 (96) 8,368
2,822 398 2,576 5,664 11,460
546 1,125 759 1,851 4,281
2,276 (727) 1,817 3,813 7,179
(142) (134) (107) (126) (509)

2,134 (861) 1,710 3,687 6,670

2,950 2,946 2,924 2,896 2,929

2,967 2,946 2,941 2,914 2,945
$ 2.08 $ 2.08 $ 2.08 $ 2.04 $ 2.08
Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020

$ 122,949 $ 129,388 $ 126,981 $ 140,608 $ 519,926

976 989 1,010 1,063 $ 4,038
123,925 130,377 127,991 141,671 523,964
-10.71% 5.21% -1.83% 10.69%
5.43% 1.83% 2.48% 2.07% 1.86%

93,034 97,923 95,900 107,748 394,605

78.19% 78.47% 77.79% 79.02% 78.39%
75.07% 75.11% 74.93% 76.06% 75.31%
30,891 32,454 32,091 33,923 129,359
24.93% 24.89% 25.07% 23.94% 24.69%
25,946 26,871 27,373 28,601 108,791

21.81% 21.53% 22.21% 20.98% 21.61%

118,980 124,794 123,273 136,349 503,396
96.01% 95.72% 96.31% 96.24% 96.07%
4,945 5,583 4,718 5,322 20,568
3.99% 4.28% 3.69% 3.76% 3.93%

588 558 547 569 2,262

85 83 86 83 337
(48) (56) (44) (41) (189)
625 585 589 611 2,410
0 0
(837) 85 (244) (962) (1,958)
5,157 4,913 4,373 5,673 20,116
1,251 1,233 1,052 1,379 4,915
3,906 3,680 3,321 4,294 15,201
(64) (70) (33) (153) (320)

3,842 3,610 3,288 4,141 14,881

2,869 2,853 2,843 2,929 2,929

2,886 2,869 2,861 2,945 2,945
$ 2.12 $ 2.12 $ 2.12 $ 2.08 $ 2.04
Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021

$ 133,672 $ 136,824 $ 133,752 $ 150,985 $ 555,233

950 918 956 1,094 $ 3,918
134,622 137,742 134,708 152,079 559,151
-4.98% 2.32% -2.20% 12.90%
8.63% 5.65% 5.25% 7.35% 6.72%

102,026 102,689 100,339 115,261 420,315

78.85% 77.98% 77.82% 78.63% 78.33%
75.79% 74.55% 74.49% 75.79% 75.17%
32,596 35,053 34,369 36,818 138,836
24.21% 25.45% 25.51% 24.21% 24.83%
27,372 28,994 28,591 31,331 116,288

21.15% 22.02% 22.18% 21.37% 21.67%

129,398 131,683 128,930 146,592 536,603
96.12% 95.60% 95.71% 96.39% 95.97%
5,224 6,059 5,778 5,487 22,548
3.88% 4.40% 4.29% 3.61% 4.03%

510 577 455 434 1,976

82 81 86 90 339
(43) (23) (25) (30) (121)
549 635 516 494 2,194
0
(721) (3,222) (1,853) 5,586 (210)
5,396 8,646 7,115 (593) 20,564
1,322 2,207 1,914 1,415 6,858
4,074 6,439 5,201 (2,008) 13,706
(84) 37 (66) (83) (196)

3,990 6,476 5,135 (2,091) 13,510

2,831 2,832 2,833 2,850 2,850

2,849 2,848 2,849 2,868 2,868
$ 2.16 $ 2.16 $ 2.16 $ 2.12 $ 2.12
Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022

$ 137,159 $ 139,871 $ 139,207 $ 151,525 $ 567,762

1,151 1,177 1,318 1,346 $ 4,992
138,310 141,048 140,525 152,871 572,754
-9.05% 1.98% -0.37% 8.79%
2.74% 2.40% 4.32% 0.52% 2.43%

103,272 105,183 105,023 115,522 429,000

78.59% 78.67% 77.95% 78.59% 78.45%
74.67% 74.57% 74.74% 75.57% 74.90%
35,038 35,865 35,502 37,349 143,754
25.33% 25.43% 25.26% 24.43% 25.10%
28,129 28,511 29,710 31,462 117,812

21.41% 21.33% 22.05% 21.41% 21.55%

131,401 133,694 134,733 146,984 546,812
95.00% 94.79% 95.88% 96.15% 95.47%
6,909 7,354 5,792 5,887 25,942
5.00% 5.21% 4.12% 3.85% 4.53%

481 437 408 348 1,674

85 78 78 79 320
(30) (37) (44) (47) (158)
536 478 442 380 1,836
2,410 0 2,410
2,529 953 (1,207) 725 3,000
3,844 5,923 4,147 4,782 18,696
1,033 1,559 1,015 1,149 4,756
2,811 4,364 3,132 3,633 13,940
(81) (88) (27) (71) (267)

2,730 4,276 3,105 3,562 13,673

2,815 2,799 2,785 2,831 2,831

2,829 2,812 2,797 2,847 2,847
$ 2.20 $ 2.20 $ 2.20 $ 2.16 $ 2.16
Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023

$ 140,288 $ 151,381 $ 151,469 $ 162,743 $ 605,881

1,281 1,478 1,344 1,305 $ 5,408
141,569 152,859 152,813 164,048 611,289
-7.39% 7.97% -0.03% 7.35%
2.36% 8.37% 8.74% 7.31% 6.73%

106,847 115,838 115,613 125,423 463,721

78.42% 79.34% 77.01% 79.12% 78.48%
75.47% 75.78% 75.66% 76.46% 75.86%
34,722 37,021 37,200 38,625 147,568
24.53% 24.22% 24.34% 23.54% 24.14%
29,404 30,167 34,505 33,100 127,176

21.58% 20.66% 22.99% 20.88% 21.52%

136,251 146,005 150,118 158,523 590,897
96.24% 95.52% 98.24% 96.63% 96.66%
5,318 6,854 2,695 5,525 20,392
3.76% 4.48% 1.76% 3.37% 3.34%

372 395 499 521 1,787

92 84 85 80 341
(36) (31) (84) (103) (254)
428 448 500 498 1,874
0
1,998 (238) 3,626 (3,848) 1,538
2,892 6,644 (1,431) 8,875 16,980
798 1,497 336 3,093 5,724
2,094 5,147 (1,767) 5,782 11,256
(49) 2 (31) 466 388

2,045 5,149 (1,798) 6,248 11,644

2,754 2,736 2,711 2,792 2,831

2,765 2,745 2,711 2,805 2,847
$ 2.24 $ 2.24 $ 2.20 $ 2.16
Q1 2024 Q2 2024 Q3 2024 Q4 2024E FY 2024E

$ 151,004 $ 160,280 $ 159,439 $ 172,551 $ 643,725

1,297 1,352 1,365 1,583 5,597
152,301 161,632 160,804 174,134 649,322
-7.16% 6.13% -0.51% 7.73%
7.58% 5.74% 5.23% 6.15% 6.22%

115,284 121,850 121,183 132,363 490,680

78.93% 78.96% 78.79% 78.89% 78.79%
75.69% 75.39% 75.36% 76.01% 75.57%
37,017 39,782 39,621 41,771 158,191
24.31% 24.61% 24.64% 23.99% 24.36%
30,777 32,466 33,419 35,412 132,074

21.07% 21.04% 21.21% 21.11% 21.21%

146,061 154,316 154,602 167,775 622,754
95.90% 95.47% 96.01% 96.35% 95.91%
6,240 7,316 6,202 6,359 26,117
4.10% 4.53% 3.86% 3.65% 4.02%

568 543 572 1,683

96 99 110 305
(107) (148) (145) (400)
557 494 537 0 1,588
0
2,995 (3,905) 4,750 3,840
2,688 10,727 915 6,359 20,689
792 2,674 272 3,738
1,896 8,053 643 6,359 16,951
(223) (162) (190) (575)

1,673 7,891 453 6,359 16,376

2,694 2,693 2,693 2,831

2,704 2,703 2,703 2,847
$ 2.28 $ 2.28 $ 2.16
Q1 2025E Q2 2025E Q3 2025E Q4 2025E FY 2025E

$ 161,864 $ 170,924 $ 171,938 $ 168,315 $ 690,804

1,477 1,566 1,687 1,864 6,594
163,341 172,490 173,625 170,179 697,398
-6.20% 5.60% 0.66% -1.99%
7.25% 6.72% 7.97% -2.27% 326.96%

122,822 129,731 130,635 128,087 528,137

78.36% 78.37% 78.38% 78.41% 78.67%
75.19% 75.21% 75.24% 75.27% 75.70%
40,519 42,759 42,990 42,092 169,261
24.81% 24.79% 24.76% 24.73% 24.27%
33,916.6 35,807.4 36,032.6 35,265.9 143,216.0

21.64% 21.63% 21.62% 21.59% 21.33%

156,738 165,538 166,668 163,353 671,353
95.96% 95.97% 95.99% 95.99% 96.27%
6,602 6,952 6,957 6,826 26,045
4.04% 4.03% 4.01% 4.01% 3.73%
FY 2026E FY 2027E FY 2028E FY 2029E

$ 737,012 $ 778,309 $ 814,393 $ 852,921

5,754 5,644 5,536 5,309
742,765 783,952 819,929 858,230
6.51% 5.55% 4.59% 4.67%

559,807 590,587 618,860 647,047

78.50% 78.45% 78.54% 78.49%
75.36% 75.33% 75.46% 75.38%
182,959 193,366 201,069 211,183
24.63% 24.67% 24.52% 24.61%
153,351.1 162,254.5 169,121.3 177,279.7

21.50% 21.55% 21.46% 21.51%

713,158 752,841 787,981 824,327
96.01% 96.03% 96.10% 96.05%
29,607 31,111 31,948 33,903
3.99% 3.97% 3.90% 3.95%
Revenue Build - (Millions USD)
Q1 2019
Walmart Stores
Grocery $43,860
Perccent Growth From Last Period
Percent Growth YoY
General Merchandise 24,174
Perccent Growth From Last Period
Percent Growth YoY
Healthcare and Wellness 9,128
Perccent Growth From Last Period
Percent Growth YoY
Other Categories 586
Perccent Growth From Last Period
Percent Growth YoY
Sam's Club
Grocery and Consumables 8,012
Perccent Growth From Last Period
Percent Growth YoY
Fuel, Tobacco and Other Categories 2,919
Perccent Growth From Last Period
Percent Growth YoY
Home and Apparel 1,202
Perccent Growth From Last Period
Percent Growth YoY
Healthcare and Wellness 801
Perccent Growth From Last Period
Percent Growth YoY
Technology, Office and Entertainment 688
Perccent Growth From Last Period
Percent Growth YoY
Walmart International
Mexico and Central America 7,684
Perccent Growth From Last Period
Percent Growth YoY
Canada 4,254
Perccent Growth From Last Period
Percent Growth YoY
China 3,205
Perccent Growth From Last Period
Percent Growth YoY
UK 7,515
Perccent Growth From Last Period
Percent Growth YoY
Other 7,602
Perccent Growth From Last Period
 Percent Growth YoY
Corporate and Support
Corporate and Support 1,060
Percent Growth YoY
Net sales and revenue 122,690
Percentage Growth
Q2 2019 Q3 2019 Q4 2019 FY 2019 Q1 2020

$45,991 $46,183 $48,168 $184,202 $46,153

4.86% 0.42% 4.30% -4.18%
5.23%
27,305 24,838 32,422 108,739 24,406
12.95% -9.03% 30.53% -24.72%
0.96%
8,837 8,869 8,954 35,788 8,970
-3.19% 0.36% 0.96% 0.18%
-1.73%
682 693 976 2,937 815
16.38% 1.61% 40.84% -16.50%
39.08%

8,585 8,570 8,541 33,708 8,373

7.15% -0.17% -0.34% -1.97%
4.51%
3,261 3,168 2,762 12,110 2,777
11.72% -2.85% -12.82% 0.54%
-4.86%
1,398 1,209 1,643 5,452 1,178
16.31% -13.52% 35.90% -28.30%
-2.00%
789 813 778 3,181 827
-1.50% 3.04% -4.31% 6.30%
3.25%
757 761 1,182 3,388 675
10.03% 0.53% 55.32% -42.89%
-1.89%

7,510 7,740 8,856 31,790 7,837

-2.26% 3.06% 14.42% -11.51%
1.99%
4,703 4,639 5,017 18,613 4,122
10.55% -1.36% 8.15% -17.84%
-3.10%
2,480 2,637 2,380 10,702 3,063
-22.62% 6.33% -9.75% 28.70%
-4.43%
7,650 7,407 7,975 30,547 7,077
1.80% -3.18% 7.67% -11.26%
-13.67%
7,111 6,370 8,089 29,172 6,676
-6.46% -10.42% 26.99% -17.47%
 -12.18%

969 997 1,050 4,076 976

-7.92%
128,028 124,894 138,793 514,405 123,925
1.01%
Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021

$48,196 $48,117 $49,962 $192,428 $52,921

4.43% -0.16% 3.83% 5.92%
4.79% 4.19% 3.72% 4.47% 14.66%
27,246 24,964 32,071 108,687 25,466
11.64% -8.38% 28.47% -20.59%
-0.22% 0.51% -1.08% -0.05% 4.34%
8,949 9,225 9,414 36,558 9,600
-0.23% 3.08% 2.05% 1.98%
1.27% 4.01% 5.14% 2.15% 7.02%
809 883 824 3,331 756
-0.74% 9.15% -6.68% -8.25%
18.62% 27.42% -15.57% 13.42% -7.24%

8,931 8,900 8,839 35,043 10,361

6.66% -0.35% -0.69% 17.22%
4.03% 3.85% 3.49% 3.96% 23.74%
2,863 2,646 2,285 10,571 2,013
3.10% -7.58% -13.64% -11.90%
-12.20% -16.48% -17.27% -12.71% -27.51%
1,763 1,532 2,271 6,744 1,280
49.66% -13.10% 48.24% -43.64%
26.11% 26.72% 38.22% 23.70% 8.66%
842 858 845 3,372 901
1.81% 1.90% -1.52% 6.63%
6.72% 5.54% 8.61% 6.00% 8.95%
650 689 1,048 3,062 608
-3.70% 6.00% 52.10% -41.98%
-14.13% -9.46% -11.34% -9.62% -9.93%

8,014 7,913 9,586 33,350 8,496

2.26% -1.26% 21.14% -11.37%
6.71% 2.24% 8.24% 4.91% 8.41%
4,635 4,608 5,055 18,420 4,286
12.45% -0.58% 9.70% -15.21%
-1.45% -0.67% 0.76% -1.04% 3.98%
2,428 2,718 2,462 10,671 3,368
-20.73% 11.94% -9.42% 36.80%
-2.10% 3.07% 3.45% -0.29% 9.96%
7,316 6,961 7,889 29,243 7,132
3.38% -4.85% 13.33% -9.60%
-13.47% -16.91% -1.08% -12.18% 1.80%
6,746 6,967 8,057 28,446 6,484
1.05% 3.28% 15.65% -19.52%
 -5.13% 9.37% -0.40% -2.49% -2.88%

989 1,010 1,063 4,038 950

2.06% 1.30% 1.24% -0.93% -2.66%
130,377 127,991 141,671 523,964 134,622
1.83% 2.48% 2.07% 1.86% 8.63%
Q2 2021 Q3 2021 Q4 2021 FY 2021 Q1 2022

$51,545 $50,683 $53,264 $208,413 $51,391

-2.60% -1.67% 5.09% -3.52%
6.95% 5.33% 6.61% 9.37% -2.89%
31,682 26,927 35,331 119,406 30,607
24.41% -15.01% 31.21% -13.37%
16.28% 7.86% 10.16% 8.95% 20.19%
9,154 9,806 9,962 38,522 9,970
-4.65% 7.12% 1.59% 0.08%
2.29% 6.30% 5.82% 5.37% 3.85%
901 937 1,028 3,622 1,199
19.18% 4.00% 9.71% 16.63%
11.37% 6.12% 24.76% 8.74% 58.60%

10,715 10,450 10,622 42,148 10,669

3.42% -2.47% 1.65% 0.44%
19.98% 17.42% 20.17% 20.28% 2.97%
2,068 1,942 1,815 7,838 2,299
2.73% -6.09% -6.54% 26.67%
-27.77% -26.61% -20.57% -25.85% 14.21%
1,953 1,693 2,166 7,092 2,082
52.58% -13.31% 27.94% -3.88%
10.78% 10.51% -4.62% 5.16% 62.66%
931 1,017 943 3,792 941
3.33% 9.24% -7.28% -0.21%
10.57% 18.53% 11.60% 12.46% 4.44%
708 743 981 3,040 701
16.45% 4.94% 32.03% -28.54%
8.92% 7.84% -6.39% -0.72% 15.30%

7,208 7,429 9,509 32,642 8,330

-15.16% 3.07% 28.00% -12.40%
-10.06% -6.12% -0.80% -2.12% -1.95%
5,127 4,969 5,609 19,991 4,848
19.62% -3.08% 12.88% -13.57%
10.61% 7.83% 10.96% 8.53% 13.11%
2,579 2,787 2,696 11,430 3,773
-23.43% 8.07% -3.27% 39.95%
6.22% 2.54% 9.50% 7.11% 12.02%
6,698 7,249 8,155 29,234 3,811
-6.09% 8.23% 12.50% -53.27%
-25.45% 10.60% 3.37% -0.03% -98.60%
5,555 7,120 8,904 28,063 6,538
-14.33% 28.17% 25.06% -26.57%
 -17.65% 2.20% 10.51% -1.35% 0.83%

918 956 1,094 3,918 1,151

-7.18% -5.35% 2.92% -2.97% 21.16%
137,742 134,708 152,079 559,151 138,310
5.65% 5.25% 7.35% 6.72% 2.74%
Q2 2022 Q3 2022 Q4 2022 FY 2022 Q1 2023

$54,649 $55,560 $57,344 $218,944 $56,764

6.34% 1.67% 3.21% -1.01%
6.02% 9.62% 7.66% 5.05% 10.46%
31,707 28,544 35,018 125,876 27,379
3.59% -9.98% 22.68% -21.81%
0.08% 6.01% -0.89% 5.42% -10.55%
10,480 11,030 11,359 42,839 10,894
5.12% 5.25% 2.98% -4.09%
14.49% 12.48% 14.02% 11.21% 9.27%
1,356 1,475 1,558 5,588 1,867
13.09% 8.78% 5.63% 19.83%
50.50% 57.42% 51.56% 54.28% 55.71%

12,014 12,335 11,804 46,822 12,301

12.61% 2.67% -4.30% 4.21%
12.12% 18.04% 11.13% 11.09% 15.30%
2,816 2,932 3,001 11,048 3,623
22.49% 4.12% 2.35% 20.73%
36.17% 50.98% 65.34% 40.95% 57.59%
2,194 1,976 2,488 8,740 2,050
5.38% -9.94% 25.91% -17.60%
12.34% 16.72% 14.87% 23.24% -1.54%
956 1,037 1,022 3,956 1,010
1.59% 8.47% -1.45% -1.17%
2.69% 1.97% 8.38% 4.32% 7.33%
664 691 934 2,990 637
-5.28% 4.07% 35.17% -31.80%
-6.21% -7.00% -4.79% -1.64% -9.13%

8,658 8,718 10,258 35,964 9,088

3.94% 0.69% 17.66% -11.41%
20.12% 17.35% 7.88% 10.18% 9.10%
5,492 5,507 5,926 21,773 5,150
13.28% 0.27% 7.61% -13.09%
7.12% 10.83% 5.65% 8.91% 6.23%
3,001 3,538 3,540 13,852 4,127
-20.46% 17.89% 0.06% 16.58%
16.36% 26.95% 31.31% 21.19% 9.38%
- - - 3,811 -
-100.00%
-259.71% -260.10% -100.00% -222.42% -101.01%
5,884 5,864 7,273 25,559 5,398
-10.00% -0.34% 24.03% -25.78%
 5.92% -17.64% -18.32% -8.92% -17.44%

1,177 1,318 1,346 4,992 1,281

28.21% 37.87% 23.03% 27.41% 11.29%
141,048 140,525 152,871 572,754 141,569
2.40% 4.32% 0.52% 2.43% 2.36%
Q2 2023 Q3 2023 Q4 2023 FY 2023 Q1 2024

$61,469 $63,231 $65,835 $247,299 $63,407

8.29% 2.87% 4.12% -3.69%
12.48% 13.81% 14.81% 12.95% 11.70%
30,073 27,605 33,540 118,597 25,765
9.84% -8.21% 21.50% -23.18%
-5.15% -3.29% -4.22% -5.78% -5.90%
11,331 11,947 12,419 46,591 12,848
4.01% 5.44% 3.95% 3.45%
8.12% 8.31% 9.33% 8.76% 17.94%
2,257 1,992 1,950 8,066 1,881
20.89% -11.74% -2.11% -3.54%
66.45% 35.05% 25.16% 44.35% 0.75%

13,392 13,846 13,488 53,027 13,498

8.87% 3.39% -2.59% 0.07%
11.47% 12.25% 14.27% 13.25% 9.73%
4,476 3,680 2,857 14,636 3,188
23.54% -17.78% -22.36% 11.59%
58.95% 25.51% -4.80% 32.48% -12.01%
2,406 2,132 2,991 9,579 2,079
17.37% -11.39% 40.29% -30.49%
9.66% 7.89% 20.22% 9.60% 1.41%
1,006 1,085 1,147 4,248 1,156
-0.40% 7.85% 5.71% 0.78%
5.23% 4.63% 12.23% 7.38% 14.46%
621 656 941 2,855 578
-2.51% 5.64% 43.45% -38.58%
-6.48% -5.07% 0.75% -4.52% -9.26%

9,690 9,702 12,016 40,496 10,958

6.62% 0.12% 23.85% -8.80%
11.92% 11.29% 17.14% 12.60% 20.58%
5,767 5,491 5,892 22,300 5,140
11.98% -4.79% 7.30% -12.76%
5.01% -0.29% -0.57% 2.42% -0.19%
3,397 3,572 3,615 14,711 4,924
-17.69% 5.15% 1.20% 36.21%
13.20% 0.96% 2.12% 6.20% 19.31%
- - - - -

0.00% 0.00% 0.00% -27.51% 0.00%

5,496 6,530 6,052 23,476 5,582
1.82% 18.81% -7.32% -7.77%
 -6.59% 11.36% -16.79% -8.15% 3.41%

1,478 1,344 1,305 5,408 1,297

25.57% 1.97% -3.05% 8.33% 1.25%
152,859 152,813 164,048 611,289 152,301
8.37% 8.74% 7.31% 6.73% 7.58%
Q2 2024 Q3 2024 Q4 2024E FY 2024E Q1 2025E

$66,240 $66,289 $68,117 $ 264,053 $67,592

4.47% 0.07% 2.76% -0.77%
7.76% 4.84% 3.47% 6.77% 6.60%
29,076 26,579 32,043 $ 113,463 26,615
12.85% -8.59% 20.56% -16.94%
-3.32% -3.72% -4.46% -4.33% 3.30%
13,374 14,173 14,716 $ 55,111 14,147
4.09% 5.97% 3.83% -3.87%
18.03% 18.63% 18.50% 18.29% 10.11%
2,164 2,378 3,013 $ 9,436 1,979
15.05% 9.89% 26.70% -34.32%
-4.12% 19.38% 54.51% 16.98% 5.20%

14,325 $14,512 $15,869 $ 58,204 $14,803

6.13% 1.31% 9.35% -6.72%
6.97% 4.81% 17.65% 9.76% 9.67%
3,338 3,523 3,855 $ 13,904 3,269
4.71% 5.54% 9.42% -15.20%
-25.42% -4.27% 34.93% -5.00% 2.54%
2,428 2084 2957 $ 9,548 2,181
16.79% -14.17% 41.89% -26.25%
0.91% -2.25% -1.14% -0.32% 4.89%
1,186 1,313 1,378 $ 5,033 1,329
2.60% 10.71% 4.95% -3.53%
17.89% 21.01% 20.14% 18.48% 15.00%
553 566 589 $ 2,286 561
-4.33% 2.35% 4.06% -4.81%
-10.95% -13.72% -37.41% -19.93% -3.00%

11,994 12,839 13,004 $ 48,795 12,641

9.45% 7.05% 1.29% -2.79%
23.78% 32.33% 8.22% 20.49% 15.36%
5,842 5,668 6,274 $ 22,924 5,258
13.66% -2.98% 10.69% -16.19%
1.30% 3.22% 6.48% 2.80% 2.30%
3,896 4,230 4,486 $ 17,536 5,525
-20.88% 8.57% 6.05% 23.15%
14.69% 18.42% 24.09% 19.20% 12.20%
- - - - -

0.00% 0.00% 0.00% 0.00% 0.00%

5,864 5,735 6,250 $ 23,431 5,964
5.05% -2.20% 6.58% -4.58%
 6.70% -12.17% 3.27% -0.19% 6.84%

1,352 1,365 1,583 5,597 1,477

-8.53% 1.56% 21.30% 3.49% -6.70%
161,632 161,254 174,134 649,322 163,341
5.74% 5.52% 6.15% 6.22% 7.25%
Q2 2025E Q3 2025E Q4 2025E FY 2025E FY 2026E

$69,519 $68,609 $71,278 $ 276,997 $ 289,192

2.85% -1.31% 3.89%
4.95% 3.50% 4.64% 4.90% 4.40%
29,690 27,741 33,725 $ 117,771 121,653
11.55% -6.56% 21.57%
2.11% 4.37% 5.25% 3.80% 3.30%
14,778 15,732 16,806 $ 61,463 67,318
4.46% 6.45% 6.82%
10.50% 11.00% 14.20% 11.53% 9.53%
2,330 2,717 3,737 $ 10,763 12,115
17.76% 16.58% 37.57%
7.68% 14.24% 24.04% 14.06% 12.56%

$15,689 $17,324 $18,162 $ 65,978 72,152

5.98% 10.43% 4.84%
9.52% 19.38% 14.45% 13.36% 9.36%
3,460 3,959 4,444 $ 15,133 16,471
5.85% 14.43% 12.25%
3.66% 12.39% 15.29% 8.84% 8.84%
2,565 2,471 3,380 $ 10,598 11,551
17.64% -3.66% 36.78%
5.66% 18.59% 14.32% 11.00% 9.00%
1,399 1,314 1,395 $ 5,437 5,792
5.27% -6.13% 6.16%
18.00% 0.05% 1.20% 8.03% 6.53%
532 538 586 $ 2,217 2,014
-5.07% 1.02% 8.99%
-3.75% -5% -0.50% -3.03% -9.16%

14,146 14,407 14,801 $ 55,995 63,585

11.90% 1.84% 2.74%
17.94% 12.21% 13.82% 14.75% 13.55%
6,045 6,265 6,812 $ 24,381 25,930
14.97% 3.63% 8.74%
3.48% 10.53% 8.58% 6.35% 6.35%
4,445 4,653 4,844 $ 19,467 21,319
-19.54% 4.67% 4.10%
14.10% 10.00% 7.98% 11.01% 9.51%
- - - - -

0.00% 0.00% 0.00% 0.00% 0.00%

6,324 6,209 6,966 $ 25,463 27,920
6.05% -1.83% 12.20%
 7.85% 8.26% 11.46% 8.67% 9.65%

1,566 1,687 1,864 5,737 5,754

6.03% 7.73% 10.49% 2.49% 0.29%
172,490 173,625 170,179 697,398 742,765
6.72% 7.67% -2.27% 7.40% 6.51%
FY 2027E FY 2028E FY 2029E

$ 298,908 $ 305,548 $ 312,660

3.36% 2.22% 2.33%

125,055 127,926 130,608

2.80% 2.30% 2.10%

73,730 80,753 88,446

9.53% 9.53% 9.53%

13,382 14,702 16,153

10.46% 9.87% 9.87%

76,739 79,316 81,979

6.36% 3.36% 3.36%

17,927 19,511 21,236

8.84% 8.84% 8.84%

12,304 12,796 13,180

6.50% 4.00% 3.00%

6,210 6,699 7,273

7.21% 7.89% 8.57%

1,798 1,661 1,509

-10.71% -7.63% -9.17%

70,932 77,709 85,134

11.55% 9.55% 9.55%

27,578 29,330 31,194

6.35% 6.35% 6.35%

23,133 24,871 26,739

8.51% 7.51% 7.51%

- - -

0.00% 0.00% 0.00%

30,615 33,569 36,808
 9.65% 9.65% 9.65%

5,644 5,536 5,309

-1.91% -1.91% -4.11%
783,952 819,929 858,230
5.55% 4.59% 4.67%
 Consolidated Statements of Cash Flows - USD ($) $ in Millions

Cash flows from operating activities:

Consolidated net income
Adjustments to reconcile consolidated net income to net cash provided by operating activi
Depreciation and amortization
As a percentage of CapEx
Net unrealized and realized (gains) and losses
Losses on disposal of business operations
Deferred income taxes
Loss on extinguishment of debt
Other operating activities
Changes in certain assets and liabilities, net of effects of acquisitions and dispositions:
Receivables, net
Inventories
Accounts payable
Accrued liabilities
Accrued income taxes
Net cash used in operating activities
Cash flows from investing activities:
Payments for property and equipment
As a % of Sales
Proceeds from the disposal of property and equipment
Proceeds from disposal of certain operations, net of divested cash
Payments for business acquisitions, net of cash acquired
Other investing activities
Net cash used in investing activities
Cash flows from financing activities:
Net change in short-term borrowings
Proceeds from issuance of long-term debt
Repayments of long-term debt
Premiums paid to extinguish debt
Dividends paid
Purchase of Company stock
Dividends paid to noncontrolling interest
Purchase of noncontrolling interest
Sale of subsidiary stock
Other financing activities
Net cash used in financing activities
Effect of exchange rates on cash, cash equivalents and restricted cash
Net increase (decrease) in cash, cash equivalents and restricted cash
Change in cash and cash equivalents reclassified from (to) assets held for sale
Cash, cash equivalents and restricted cash at beginning of year
Cash, cash equivalents and restricted cash at end of year
 12 Month Ende
FY 2021 FY 2022 FY 2023 FY 2024E

$ 13,510 $ 13,673 $ 11,644

11,152 10,658 10,945 12,655

108.65% 81.32% 64.93% 84.97%
(8,589) 2,440 1,683
8,401 433 0
1,911 (755) 449
0 2,410 0
1,521 1,652 1,919

(1,086) (1,796) 240

(2,395) (11,764) (528)
6,966 5,520 (1,425)
4,623 1,404 4,393
(136) 39 (127)
35,878 23,914 29,193

(10,264) (13,106) (16,857) (14,894)

-1.84% -2.29% -2.76% -2.29%
215 394 170
56 7,935 0
(180) (359) (740)
102 (879) (295)
(10,071) (6,015) (17,722)

(324) 193 (34)

0 6,945 5,041
(5,382) (13,010) (2,689)
0 (2,317) 0
(6,116) (6,152) (6,114)
(2,625) (9,787) (9,920)
(434) (424) (444)
0 0 (827)
140 3,239 66
(1,376) (1,515) (2,118)
(16,117) (22,828) (17,039)
235 (140) (73)
9,925 (5,069) (5,641)
(1,848) 1,848 0
 9,515 17,788 14,834
17,788 14,834 8,841
 12 Month Ended
FY 2025E FY 2026E FY 2027E FY 2028E

13,992 15,328 16,628 17,861

87.47% 89.97% 92.47% 94.97%

(15,997) (17,038) (17,983) (18,808)

-2.29% -2.29% -2.29% -2.29%
FY 2029E

19,188
97.47%

(19,686)
-2.29%
Walmart Inc.
Net Working Capital ($USD in Millions) FY 2021 FY 2022
Current Asset
Accounts receivable, net 6,516 8,280
A/R Days 4.25 5.28
Inventories 44,949 56,511
Inventory Days 39 48
Prepaid expenses and other current assets 20,861 1,519
as a % of Revenue 3.73% 0.27%
Total Current Assets 72,326 66,310
Current Liabilities
Accounts payable 49,141 55,261
A/P Dayys 43 47
Accrued liabilities 37,966 26,060
as a % of SG&A 32.65% 22.12%
Total Current Liabilities 87,107 81,321
NWC (14,781) (15,011)
Change in NWC 2,147 (230)
FY 2023 FY 2024E FY 2025E FY 2026E FY 2027E FY 2028E

7,933 8,460 9,086 9,678 10,214 10,683

4.74 4.76 4.76 4.76 4.76 4.76
56,576 58,992 63,495 67,302 71,003 74,402
45 44 44 44 44 44
2,521 9,542 10,248 10,915 11,520 12,049
0.41% 1.47% 1.47% 1.47% 1.47% 1.47%
67,030 76,993 82,830 87,895 92,737 97,134

53,742 59,147 63,662 67,479 71,190 74,598

42 44 44 44 44 44
31,126 34,887 34,854 38,453 41,010 42,104
24.47% 26.41% 24.34% 25.08% 25.28% 24.90%
84,868 94,033 98,515 105,932 112,200 116,701
(17,838) (17,040) (15,686) (18,038) (19,463) (19,568)
(2,827) 798 1,354 (2,352) (1,425) (105)
FY 2029E

11,182
4.76
77,791
44
12,612
1.47%
101,584

77,995
44
44,465
25.08%
122,461
(20,876)
(1,309)
 Walmart Inc S&P 500
Date Adj Close Return Date Adj Close
1/22/2024 162.39 1/22/2024 483.45
1/19/2024 162.38 0% 1/19/2024 482.43
1/18/2024 163.24 1% 1/18/2024 476.49
1/17/2024 161.07 -1% 1/17/2024 472.29
1/16/2024 161.83 0% 1/16/2024 474.93
1/12/2024 161.32 0% 1/12/2024 476.68
1/11/2024 161.11 0% 1/11/2024 476.35
1/10/2024 161.29 -1% 1/10/2024 476.56
1/9/2024 159.31 -1% 1/9/2024 473.88
1/8/2024 158.25 -2% 1/8/2024 474.60
1/5/2024 156.71 -3% 1/5/2024 467.92
1/4/2024 157.76 -2% 1/4/2024 467.28
1/3/2024 159.30 1% 1/3/2024 468.79
1/2/2024 159.29 0% 1/2/2024 472.65
12/29/2023 157.65 -1% 12/29/2023 475.31
12/28/2023 157.57 0% 12/28/2023 476.69
12/27/2023 157.88 0% 12/27/2023 476.51
12/26/2023 156.41 -1% 12/26/2023 475.65
12/22/2023 156.65 0% 12/22/2023 473.65
12/21/2023 154.80 -1% 12/21/2023 472.70
12/20/2023 153.71 -1% 12/20/2023 468.26
12/19/2023 155.53 1% 12/19/2023 474.84
12/18/2023 154.97 0% 12/18/2023 471.97
12/15/2023 152.74 -1% 12/15/2023 469.33
12/14/2023 152.17 0% 12/14/2023 470.10
12/13/2023 154.05 1% 12/13/2023 468.60
12/12/2023 151.36 -2% 12/12/2023 462.23
12/11/2023 151.24 0% 12/11/2023 460.12
12/8/2023 150.86 0% 12/8/2023 458.34
12/7/2023 152.46 1% 12/7/2023 456.38
12/6/2023 153.47 1% 12/6/2023 452.92
12/5/2023 155.15 1% 12/5/2023 454.76
12/4/2023 153.73 -1% 12/4/2023 454.85
12/1/2023 153.77 0% 12/1/2023 457.25
11/30/2023 155.11 1% 11/30/2023 454.56
11/29/2023 155.50 0% 11/29/2023 452.77
11/28/2023 158.05 2% 11/28/2023 453.09
11/27/2023 156.19 -1% 11/27/2023 452.64
11/24/2023 155.48 0% 11/24/2023 453.46
11/22/2023 154.10 -1% 11/22/2023 453.18
11/21/2023 155.28 1% 11/21/2023 451.44
11/20/2023 154.73 0% 11/20/2023 452.43
11/17/2023 154.78 0% 11/17/2023 448.97
11/16/2023 155.46 0% 11/16/2023 448.41
11/15/2023 169.15 9% 11/15/2023 447.86
11/14/2023 167.03 -1% 11/14/2023 446.92
11/13/2023 167.06 0% 11/13/2023 438.41
11/10/2023 165.58 -1% 11/10/2023 438.83
11/9/2023 163.31 -1% 11/9/2023 432.09
11/8/2023 163.69 0% 11/8/2023 435.48
11/7/2023 165.04 1% 11/7/2023 435.17
11/6/2023 164.27 0% 11/6/2023 433.93
11/3/2023 164.05 0% 11/3/2023 432.93
11/2/2023 164.91 1% 11/2/2023 429.02
11/1/2023 164.26 0% 11/1/2023 420.95
10/31/2023 162.81 -1% 10/31/2023 416.51
10/30/2023 162.42 0% 10/30/2023 413.91
10/27/2023 160.57 -1% 10/27/2023 409.02
10/26/2023 161.17 0% 10/26/2023 410.88
10/25/2023 162.16 1% 10/25/2023 415.86
10/24/2023 162.65 0% 10/24/2023 421.92
10/23/2023 160.41 -1% 10/23/2023 418.76
10/20/2023 158.17 -1% 10/20/2023 419.49
10/19/2023 160.18 1% 10/19/2023 424.71
10/18/2023 160.94 0% 10/18/2023 428.47
10/17/2023 160.82 0% 10/17/2023 434.26
10/16/2023 160.61 0% 10/16/2023 434.28
10/13/2023 159.24 -1% 10/13/2023 429.76
10/12/2023 158.36 -1% 10/12/2023 431.91
10/11/2023 157.64 0% 10/11/2023 434.56
10/10/2023 157.02 0% 10/10/2023 432.79
10/9/2023 155.26 -1% 10/9/2023 430.54
10/6/2023 155.83 0% 10/6/2023 427.81
10/5/2023 158.49 2% 10/5/2023 422.79
10/4/2023 160.40 1% 10/4/2023 422.95
10/3/2023 158.50 -1% 10/3/2023 419.89
10/2/2023 159.51 1% 10/2/2023 425.58
9/29/2023 159.34 0% 9/29/2023 425.75
9/28/2023 161.94 2% 9/28/2023 426.79
9/27/2023 161.12 -1% 9/27/2023 424.33
9/26/2023 161.90 0% 9/26/2023 424.16
9/25/2023 162.47 0% 9/25/2023 430.48
9/22/2023 161.75 0% 9/22/2023 428.68
9/21/2023 161.32 0% 9/21/2023 429.65
9/20/2023 163.30 1% 9/20/2023 436.87
9/19/2023 162.78 0% 9/19/2023 440.92
9/18/2023 162.82 0% 9/18/2023 441.84
9/15/2023 164.03 1% 9/15/2023 441.58
9/14/2023 164.64 0% 9/14/2023 446.96
9/13/2023 163.95 0% 9/13/2023 443.14
9/12/2023 163.91 0% 9/12/2023 442.63
9/11/2023 163.73 0% 9/11/2023 445.07
9/8/2023 163.16 0% 9/8/2023 442.16
 9/7/2023 162.87 0% 9/7/2023 441.50
9/6/2023 160.87 -1% 9/6/2023 442.86
9/5/2023 159.68 -1% 9/5/2023 445.85
9/1/2023 160.97 1% 9/1/2023 447.79
8/31/2023 162.01 1% 8/31/2023 446.95
8/30/2023 160.60 -1% 8/30/2023 447.61
8/29/2023 159.46 -1% 8/29/2023 445.77
8/28/2023 158.13 -1% 8/28/2023 439.42
8/25/2023 157.24 -1% 8/25/2023 436.65
8/24/2023 156.31 -1% 8/24/2023 433.60
8/23/2023 157.51 1% 8/23/2023 439.69
8/22/2023 156.43 -1% 8/22/2023 434.85
8/21/2023 156.93 0% 8/21/2023 436.03
8/18/2023 157.35 0% 8/18/2023 433.21
8/17/2023 155.11 -1% 8/17/2023 433.00
8/16/2023 158.67 2% 8/16/2023 436.33
8/15/2023 158.59 0% 8/15/2023 439.55
8/14/2023 159.41 1% 8/14/2023 444.73
8/11/2023 160.60 1% 8/11/2023 442.29
8/10/2023 159.67 -1% 8/10/2023 442.55
8/9/2023 159.75 0% 8/9/2023 442.39
8/8/2023 159.49 0% 8/8/2023 445.37
8/7/2023 159.33 0% 8/7/2023 447.31
8/4/2023 157.20 -1% 8/4/2023 443.44
8/3/2023 158.11 1% 8/3/2023 445.46
8/2/2023 158.07 0% 8/2/2023 446.74
8/1/2023 157.96 0% 8/1/2023 453.04
7/31/2023 158.70 0% 7/31/2023 454.34
7/28/2023 158.75 0% 7/28/2023 453.48
7/27/2023 158.01 0% 7/27/2023 449.08
7/26/2023 158.59 0% 7/26/2023 452.08
7/25/2023 158.02 0% 7/25/2023 452.01
7/24/2023 158.15 0% 7/24/2023 450.78
7/21/2023 157.23 -1% 7/21/2023 448.77
7/20/2023 156.34 -1% 7/20/2023 448.77
7/19/2023 153.50 -2% 7/19/2023 451.77
7/18/2023 153.45 0% 7/18/2023 450.77
7/17/2023 153.73 0% 7/17/2023 447.44
7/14/2023 153.54 0% 7/14/2023 445.89
7/13/2023 153.02 0% 7/13/2023 446.17
7/12/2023 153.92 1% 7/12/2023 442.66
7/11/2023 153.53 0% 7/11/2023 439.12
7/10/2023 153.76 0% 7/10/2023 436.35
7/7/2023 152.38 -1% 7/7/2023 435.24
7/6/2023 155.97 2% 7/6/2023 436.35
7/5/2023 156.97 1% 7/5/2023 439.79
7/3/2023 157.06 0% 7/3/2023 440.44
6/30/2023 156.04 -1% 6/30/2023 439.94
6/29/2023 153.16 -2% 6/29/2023 434.81
6/28/2023 154.21 1% 6/28/2023 433.10
6/27/2023 153.37 -1% 6/27/2023 432.88
6/26/2023 153.93 0% 6/26/2023 428.19
6/23/2023 154.34 0% 6/23/2023 429.94
6/22/2023 154.62 0% 6/22/2023 433.22
6/21/2023 153.34 -1% 6/21/2023 431.66
6/20/2023 153.05 0% 6/20/2023 433.88
6/16/2023 154.41 1% 6/16/2023 436.15
6/15/2023 156.59 1% 6/15/2023 437.64
6/14/2023 155.74 -1% 6/14/2023 432.28
6/13/2023 154.18 -1% 6/13/2023 431.76
6/12/2023 152.99 -1% 6/12/2023 428.94
6/9/2023 151.98 -1% 6/9/2023 425.08
6/8/2023 151.07 -1% 6/8/2023 424.32
6/7/2023 148.92 -1% 6/7/2023 421.77
6/6/2023 148.70 0% 6/6/2023 423.23
6/5/2023 148.72 0% 6/5/2023 422.31
6/2/2023 147.74 -1% 6/2/2023 423.12
6/1/2023 146.34 -1% 6/1/2023 417.09
5/31/2023 145.81 0% 5/31/2023 413.17
5/30/2023 145.00 -1% 5/30/2023 415.47
5/26/2023 145.36 0% 5/26/2023 415.31
5/25/2023 145.10 0% 5/25/2023 410.00
5/24/2023 146.56 1% 5/24/2023 406.48
5/23/2023 147.24 0% 5/23/2023 409.45
5/22/2023 147.52 0% 5/22/2023 414.09
5/19/2023 148.83 1% 5/19/2023 413.93
5/18/2023 150.37 1% 5/18/2023 414.53
5/17/2023 148.45 -1% 5/17/2023 410.57
5/16/2023 148.70 0% 5/16/2023 405.65
5/15/2023 150.78 1% 5/15/2023 408.38
5/12/2023 151.96 1% 5/12/2023 406.98
5/11/2023 152.01 0% 5/11/2023 407.51
5/10/2023 151.45 0% 5/10/2023 408.22
5/9/2023 151.87 0% 5/9/2023 406.32
5/8/2023 151.62 0% 5/8/2023 408.11
5/5/2023 150.67 -1% 5/5/2023 408.00
5/4/2023 149.38 -1% 5/4/2023 400.59
5/3/2023 148.97 0% 5/3/2023 403.45
5/2/2023 149.52 0% 5/2/2023 406.23
5/1/2023 149.92 0% 5/1/2023 410.85
4/28/2023 149.31 0% 4/28/2023 411.27
4/27/2023 149.72 0% 4/27/2023 407.79
4/26/2023 149.25 0% 4/26/2023 399.83
4/25/2023 149.90 0% 4/25/2023 401.53
4/24/2023 151.08 1% 4/24/2023 408.00
4/21/2023 150.06 -1% 4/21/2023 407.58
4/20/2023 149.31 -1% 4/20/2023 407.26
4/19/2023 148.36 -1% 4/19/2023 409.50
4/18/2023 148.20 0% 4/18/2023 409.57
4/17/2023 147.88 0% 4/17/2023 409.30
4/14/2023 146.85 -1% 4/14/2023 407.84
4/13/2023 147.85 1% 4/13/2023 408.83
4/12/2023 147.70 0% 4/12/2023 403.48
4/11/2023 148.42 0% 4/11/2023 405.13
4/10/2023 148.86 0% 4/10/2023 405.02
4/6/2023 149.14 0% 4/6/2023 404.60
4/5/2023 148.03 -1% 4/5/2023 403.03
4/4/2023 145.61 -2% 4/4/2023 404.09
4/3/2023 147.06 1% 4/3/2023 406.34
3/31/2023 145.83 -1% 3/31/2023 404.80
3/30/2023 144.07 -1% 3/30/2023 399.17
3/29/2023 142.65 -1% 3/29/2023 396.85
3/28/2023 142.03 0% 3/28/2023 391.16
3/27/2023 142.59 0% 3/27/2023 392.04
3/24/2023 140.24 -2% 3/24/2023 391.31
3/23/2023 139.10 -1% 3/23/2023 388.76
3/22/2023 137.99 -1% 3/22/2023 387.71
3/21/2023 138.88 1% 3/21/2023 394.44
3/20/2023 139.35 0% 3/20/2023 389.33
3/17/2023 137.87 -1% 3/17/2023 385.62
3/16/2023 136.76 -1% 3/16/2023 390.18
3/15/2023 137.54 1% 3/15/2023 383.45
3/14/2023 136.03 -1% 3/14/2023 385.87
3/13/2023 135.31 -1% 3/13/2023 379.59
3/10/2023 134.91 0% 3/10/2023 380.13
3/9/2023 135.11 0% 3/9/2023 385.70
3/8/2023 136.03 1% 3/8/2023 392.95
3/7/2023 137.16 1% 3/7/2023 392.31
3/6/2023 138.54 1% 3/6/2023 398.41
3/3/2023 138.56 0% 3/3/2023 398.14
3/2/2023 138.39 0% 3/2/2023 391.85
3/1/2023 138.04 0% 3/1/2023 388.83
2/28/2023 139.99 1% 2/28/2023 390.33
2/27/2023 139.32 0% 2/27/2023 391.78
2/24/2023 140.33 1% 2/24/2023 390.45
2/23/2023 139.96 0% 2/23/2023 394.66
2/22/2023 142.07 2% 2/22/2023 392.57
2/21/2023 145.12 2% 2/21/2023 393.12
2/17/2023 144.24 -1% 2/17/2023 401.16
2/16/2023 142.10 -1% 2/16/2023 402.17
2/15/2023 144.37 2% 2/15/2023 407.78
2/14/2023 143.30 -1% 2/14/2023 406.46
2/13/2023 143.72 0% 2/13/2023 406.65
2/10/2023 141.56 -2% 2/10/2023 401.93
 2/9/2023 139.39 -2% 2/9/2023 401.00
2/8/2023 138.11 -1% 2/8/2023 404.50
2/7/2023 138.86 1% 2/7/2023 408.97
2/6/2023 138.57 0% 2/6/2023 403.69
2/3/2023 139.58 1% 2/3/2023 406.18
2/2/2023 141.46 1% 2/2/2023 410.54
2/1/2023 142.50 1% 2/1/2023 404.65
1/31/2023 141.71 -1% 1/31/2023 400.39
1/30/2023 140.01 -1% 1/30/2023 394.59
1/27/2023 141.15 1% 1/27/2023 399.61
1/26/2023 140.07 -1% 1/26/2023 398.69
1/25/2023 140.20 0% 1/25/2023 394.36
1/24/2023 140.87 0% 1/24/2023 394.21
1/23/2023 140.50 0% 1/23/2023 394.63
1/20/2023 138.43 -1% 1/20/2023 389.95
1/19/2023 136.74 -1% 1/19/2023 382.82
1/18/2023 138.72 1% 1/18/2023 385.63
1/17/2023 142.24 3% 1/17/2023 391.81
1/13/2023 143.11 1% 1/13/2023 392.53
1/12/2023 142.63 0% 1/12/2023 391.02
1/11/2023 143.93 1% 1/11/2023 389.60
1/10/2023 142.68 -1% 1/10/2023 384.73
1/9/2023 142.77 0% 1/9/2023 382.05
1/6/2023 144.57 1% 1/6/2023 382.27
1/5/2023 141.12 -2% 1/5/2023 373.70
1/4/2023 141.60 0% 1/4/2023 378.01
1/3/2023 141.44 0% 1/3/2023 375.12
12/30/2022 139.66 -1% 12/30/2022 376.70
12/29/2022 140.01 0% 12/29/2022 377.70
12/28/2022 139.17 -1% 12/28/2022 371.02
12/27/2022 141.65 2% 12/27/2022 375.69
12/23/2022 141.61 0% 12/23/2022 377.18
12/22/2022 141.32 0% 12/22/2022 375.02
12/21/2022 143.00 1% 12/21/2022 380.45
12/20/2022 141.89 -1% 12/20/2022 374.84
12/19/2022 140.65 -1% 12/19/2022 374.33
12/16/2022 140.61 0% 12/16/2022 377.53
12/15/2022 143.18 2% 12/15/2022 382.04
12/14/2022 144.47 1% 12/14/2022 391.62
12/13/2022 145.27 1% 12/13/2022 394.14
12/12/2022 145.80 0% 12/12/2022 391.18
12/9/2022 143.13 -2% 12/9/2022 385.62
12/8/2022 146.54 2% 12/8/2022 388.52
12/7/2022 146.32 0% 12/7/2022 385.50
12/6/2022 147.08 1% 12/6/2022 386.16
12/5/2022 148.81 1% 12/5/2022 391.81
12/2/2022 150.35 1% 12/2/2022 398.99
12/1/2022 150.50 0% 12/1/2022 399.45
11/30/2022 149.57 -1% 11/30/2022 399.74
11/29/2022 150.11 0% 11/29/2022 387.53
11/28/2022 150.64 0% 11/28/2022 388.20
11/25/2022 150.20 0% 11/25/2022 394.50
11/23/2022 149.57 0% 11/23/2022 394.58
11/22/2022 148.85 0% 11/22/2022 392.11
11/21/2022 148.32 0% 11/21/2022 386.91
11/18/2022 147.42 -1% 11/18/2022 388.32
11/17/2022 145.23 -1% 11/17/2022 386.56
11/16/2022 145.72 0% 11/16/2022 387.75
11/15/2022 144.68 -1% 11/15/2022 390.73
11/14/2022 135.80 -6% 11/14/2022 387.43
11/11/2022 139.91 3% 11/11/2022 390.75
11/10/2022 139.69 0% 11/10/2022 387.00
11/9/2022 136.86 -2% 11/9/2022 366.84
11/8/2022 140.12 2% 11/8/2022 374.56
11/7/2022 139.78 0% 11/7/2022 372.55
11/4/2022 138.33 -1% 11/4/2022 369.02
11/3/2022 138.09 0% 11/3/2022 363.79
11/2/2022 138.11 0% 11/2/2022 367.57
11/1/2022 139.04 1% 11/1/2022 377.03
10/31/2022 139.67 0% 10/31/2022 378.69
10/28/2022 139.84 0% 10/28/2022 381.44
10/27/2022 138.10 -1% 10/27/2022 372.58
10/26/2022 138.50 0% 10/26/2022 374.58
10/25/2022 137.45 -1% 10/25/2022 377.42
10/24/2022 136.80 0% 10/24/2022 371.49
10/21/2022 134.24 -2% 10/21/2022 367.00
10/20/2022 131.58 -2% 10/20/2022 358.29
10/19/2022 131.26 0% 10/19/2022 361.32
10/18/2022 131.63 0% 10/18/2022 363.90
10/17/2022 128.91 -2% 10/17/2022 359.68
10/14/2022 127.99 -1% 10/14/2022 350.67
10/13/2022 129.80 1% 10/13/2022 358.84
10/12/2022 128.71 -1% 10/12/2022 349.62
10/11/2022 130.19 1% 10/11/2022 350.77
10/10/2022 126.90 -3% 10/10/2022 353.01
10/7/2022 126.15 -1% 10/7/2022 355.73
10/6/2022 129.21 2% 10/6/2022 365.93
10/5/2022 130.43 1% 10/5/2022 369.75
10/4/2022 131.74 1% 10/4/2022 370.61
10/3/2022 130.05 -1% 10/3/2022 359.47
9/30/2022 127.27 -2% 9/30/2022 350.22
9/29/2022 129.77 2% 9/29/2022 355.73
9/28/2022 130.62 1% 9/28/2022 363.31
9/27/2022 128.50 -2% 9/27/2022 356.30
9/26/2022 128.85 0% 9/26/2022 357.22
9/23/2022 127.62 -1% 9/23/2022 360.78
9/22/2022 130.89 3% 9/22/2022 366.93
9/21/2022 132.25 1% 9/21/2022 370.04
9/20/2022 131.05 -1% 9/20/2022 376.61
9/19/2022 131.81 1% 9/19/2022 380.98
9/16/2022 130.70 -1% 9/16/2022 378.05
9/15/2022 130.97 0% 9/15/2022 380.96
9/14/2022 132.39 1% 9/14/2022 385.33
9/13/2022 132.69 0% 9/13/2022 383.87
9/12/2022 135.48 2% 9/12/2022 401.32
9/9/2022 134.28 -1% 9/9/2022 397.05
9/8/2022 133.88 0% 9/8/2022 390.98
9/7/2022 133.20 -1% 9/7/2022 388.44
9/6/2022 129.86 -3% 9/6/2022 381.58
9/2/2022 130.51 0% 9/2/2022 383.03
9/1/2022 131.96 1% 9/1/2022 387.11
8/31/2022 130.07 -1% 8/31/2022 385.90
8/30/2022 130.00 0% 8/30/2022 388.86
8/29/2022 130.39 0% 8/29/2022 393.17
8/26/2022 129.14 -1% 8/26/2022 395.79
8/25/2022 133.33 3% 8/25/2022 409.66
8/24/2022 132.44 -1% 8/24/2022 403.95
8/23/2022 131.49 -1% 8/23/2022 402.67
8/22/2022 132.05 0% 8/22/2022 403.64
8/19/2022 134.45 2% 8/19/2022 412.23
8/18/2022 136.47 1% 8/18/2022 417.84
8/17/2022 136.91 0% 8/17/2022 416.63
8/16/2022 136.76 0% 8/16/2022 419.61
8/15/2022 130.12 -5% 8/15/2022 418.79
8/12/2022 129.74 0% 8/12/2022 417.07
8/11/2022 127.39 -2% 8/11/2022 410.13
8/10/2022 126.17 -1% 8/10/2022 410.13
8/9/2022 125.91 0% 8/9/2022 401.69
8/8/2022 124.68 -1% 8/8/2022 403.29
8/5/2022 123.67 -1% 8/5/2022 403.76
8/4/2022 122.68 -1% 8/4/2022 404.44
8/3/2022 127.50 4% 8/3/2022 404.72
8/2/2022 129.63 2% 8/2/2022 398.48
8/1/2022 129.49 0% 8/1/2022 401.12
7/29/2022 129.02 0% 7/29/2022 402.31
7/28/2022 126.77 -2% 7/28/2022 396.53
7/27/2022 123.68 -2% 7/27/2022 391.62
7/26/2022 119.18 -4% 7/26/2022 381.71
7/25/2022 128.99 8% 7/25/2022 386.28
7/22/2022 129.17 0% 7/22/2022 385.81
7/21/2022 129.50 0% 7/21/2022 389.42
7/20/2022 127.64 -1% 7/20/2022 385.50
7/19/2022 126.58 -1% 7/19/2022 383.06
7/18/2022 125.81 -1% 7/18/2022 372.98
7/15/2022 126.10 0% 7/15/2022 376.09
7/14/2022 124.88 -1% 7/14/2022 369.03
7/13/2022 122.49 -2% 7/13/2022 369.93
7/12/2022 122.20 0% 7/12/2022 371.89
7/11/2022 122.57 0% 7/11/2022 375.21
7/8/2022 122.52 0% 7/8/2022 379.54
7/7/2022 122.44 0% 7/7/2022 379.85
7/6/2022 122.25 0% 7/6/2022 374.25
7/5/2022 121.39 -1% 7/5/2022 372.99
7/1/2022 119.81 -1% 7/1/2022 372.29
6/30/2022 118.79 -1% 6/30/2022 368.39
6/29/2022 119.12 0% 6/29/2022 371.41
6/28/2022 119.56 0% 6/28/2022 371.71
6/27/2022 121.27 1% 6/27/2022 379.46
6/24/2022 120.88 0% 6/24/2022 380.92
6/23/2022 120.78 0% 6/23/2022 369.18
6/22/2022 117.92 -2% 6/22/2022 365.60
6/21/2022 119.36 1% 6/21/2022 366.26
6/17/2022 115.57 -3% 6/17/2022 357.27
6/16/2022 117.85 2% 6/16/2022 356.50
6/15/2022 116.64 -1% 6/15/2022 368.70
6/14/2022 116.72 0% 6/14/2022 363.52
6/13/2022 116.67 0% 6/13/2022 364.62
6/10/2022 118.90 2% 6/10/2022 379.01
6/9/2022 118.24 -1% 6/9/2022 390.33
6/8/2022 119.49 1% 6/8/2022 399.84
6/7/2022 120.54 1% 6/7/2022 404.23
6/6/2022 122.00 1% 6/6/2022 400.39
6/3/2022 122.44 0% 6/3/2022 399.17
6/2/2022 124.58 2% 6/2/2022 405.83
6/1/2022 122.57 -2% 6/1/2022 398.25
5/31/2022 125.67 3% 5/31/2022 401.50
5/27/2022 125.53 0% 5/27/2022 403.76
5/26/2022 123.10 -2% 5/26/2022 394.09
5/25/2022 120.54 -2% 5/25/2022 386.37
5/24/2022 121.28 1% 5/24/2022 382.99
5/23/2022 119.78 -1% 5/23/2022 385.93
5/20/2022 116.46 -3% 5/20/2022 378.84
5/19/2022 116.33 0% 5/19/2022 378.68
5/18/2022 119.62 3% 5/18/2022 381.01
5/17/2022 128.33 7% 5/17/2022 397.02
5/16/2022 144.80 13% 5/16/2022 389.01
5/13/2022 144.65 0% 5/13/2022 390.60
5/12/2022 144.09 0% 5/12/2022 381.48
5/11/2022 144.23 0% 5/11/2022 381.88
5/10/2022 145.75 1% 5/10/2022 388.04
5/9/2022 147.83 1% 5/9/2022 387.15
5/6/2022 146.12 -1% 5/6/2022 399.95
 5/5/2022 149.23 2% 5/5/2022 402.35
5/4/2022 150.52 1% 5/4/2022 417.18
5/3/2022 148.47 -1% 5/3/2022 404.85
5/2/2022 147.95 0% 5/2/2022 403.01
4/29/2022 148.93 1% 4/29/2022 400.59
4/28/2022 152.07 2% 4/28/2022 415.97
4/27/2022 150.15 -1% 4/27/2022 405.72
4/26/2022 151.18 1% 4/26/2022 404.58
4/25/2022 152.78 1% 4/25/2022 416.65
4/22/2022 152.70 0% 4/22/2022 414.24
4/21/2022 155.63 2% 4/21/2022 425.93
4/20/2022 155.40 0% 4/20/2022 432.40
4/19/2022 153.47 -1% 4/19/2022 432.72
4/18/2022 151.75 -1% 4/18/2022 425.84
4/14/2022 152.91 1% 4/14/2022 425.67
4/13/2022 153.05 0% 4/13/2022 431.04
4/12/2022 149.17 -3% 4/12/2022 426.16
4/11/2022 150.20 1% 4/11/2022 427.74
4/8/2022 153.24 2% 4/8/2022 435.18
4/7/2022 152.39 -1% 4/7/2022 436.35
4/6/2022 150.88 -1% 4/6/2022 434.16
4/5/2022 147.45 -2% 4/5/2022 438.54
4/4/2022 147.03 0% 4/4/2022 444.15
4/1/2022 147.01 0% 4/1/2022 440.38
3/31/2022 144.97 -1% 3/31/2022 439.14
3/30/2022 145.90 1% 3/30/2022 446.00
3/29/2022 143.33 -2% 3/29/2022 448.77
3/28/2022 142.13 -1% 3/28/2022 443.29
3/25/2022 139.65 -2% 3/25/2022 440.16
3/24/2022 139.04 0% 3/24/2022 438.02
3/23/2022 138.19 -1% 3/23/2022 431.51
3/22/2022 139.99 1% 3/22/2022 437.14
3/21/2022 140.41 0% 3/21/2022 432.09
3/18/2022 141.58 1% 3/18/2022 432.21
3/17/2022 141.16 0% 3/17/2022 427.53
3/16/2022 140.95 0% 3/16/2022 422.25
3/15/2022 141.37 0% 3/15/2022 413.09
3/14/2022 139.69 -1% 3/14/2022 404.20
3/11/2022 137.77 -1% 3/11/2022 407.18
3/10/2022 138.31 0% 3/10/2022 412.42
3/9/2022 135.24 -2% 3/9/2022 414.29
3/8/2022 134.54 -1% 3/8/2022 403.47
3/7/2022 137.38 2% 3/7/2022 406.55
3/4/2022 138.50 1% 3/4/2022 418.90
3/3/2022 135.07 -2% 3/3/2022 422.34
3/2/2022 132.04 -2% 3/2/2022 424.45
3/1/2022 131.87 0% 3/1/2022 416.78
2/28/2022 131.07 -1% 2/28/2022 423.23
 2/25/2022 132.25 1% 2/25/2022 424.31
2/24/2022 130.46 -1% 2/24/2022 415.15
2/23/2022 130.96 0% 2/23/2022 409.00
2/22/2022 132.32 1% 2/22/2022 416.38
2/18/2022 133.81 1% 2/18/2022 420.90
2/17/2022 134.68 1% 2/17/2022 423.64
2/16/2022 129.49 -4% 2/16/2022 432.89
2/15/2022 130.30 1% 2/15/2022 432.41
2/14/2022 129.90 0% 2/14/2022 425.54
2/11/2022 131.23 1% 2/11/2022 426.94
2/10/2022 131.96 1% 2/10/2022 435.53
2/9/2022 133.52 1% 2/9/2022 443.50
2/8/2022 133.81 0% 2/8/2022 437.10
2/7/2022 133.78 0% 2/7/2022 433.53
2/4/2022 135.11 1% 2/4/2022 434.93
2/3/2022 136.72 1% 2/3/2022 432.89
2/2/2022 136.59 0% 2/2/2022 443.31
2/1/2022 136.65 0% 2/1/2022 439.05
1/31/2022 135.58 -1% 1/31/2022 436.10
1/28/2022 133.36 -2% 1/28/2022 428.38
1/27/2022 131.73 -1% 1/27/2022 418.00
1/26/2022 131.64 0% 1/26/2022 420.08
1/25/2022 133.00 1% 1/25/2022 421.13
1/24/2022 135.96 2% 1/24/2022 426.34
1/21/2022 135.95 0% 1/21/2022 424.54
1/20/2022 136.95 1% 1/20/2022 433.04
1/19/2022 139.58 2% 1/19/2022 437.88
1/18/2022 138.21 -1% 1/18/2022 442.48
1/14/2022 140.67 2% 1/14/2022 450.45
1/13/2022 141.07 0% 1/13/2022 450.27
1/12/2022 139.10 -1% 1/12/2022 456.56
1/11/2022 139.84 1% 1/11/2022 455.33
1/10/2022 140.23 0% 1/10/2022 451.22
1/7/2022 140.50 0% 1/7/2022 451.78
1/6/2022 139.18 -1% 1/6/2022 453.58
1/5/2022 139.56 0% 1/5/2022 454.00
1/4/2022 137.70 -1% 1/4/2022 462.89
1/3/2022 140.27 2% 1/3/2022 463.05
12/31/2021 140.31 0% 12/31/2021 460.38
12/30/2021 138.84 -1% 12/30/2021 461.54
12/29/2021 138.39 0% 12/29/2021 462.82
12/28/2021 138.46 0% 12/28/2021 462.23
12/27/2021 136.50 -1% 12/27/2021 462.61
12/23/2021 135.27 -1% 12/23/2021 456.15
12/22/2021 135.57 0% 12/22/2021 453.33
12/21/2021 135.39 0% 12/21/2021 448.85
12/20/2021 134.99 0% 12/20/2021 441.01
12/17/2021 134.55 0% 12/17/2021 445.75
12/16/2021 139.00 3% 12/16/2021 450.55
12/15/2021 141.36 2% 12/15/2021 454.56
12/14/2021 140.55 -1% 12/14/2021 447.56
12/13/2021 139.22 -1% 12/13/2021 450.66
12/10/2021 136.76 -2% 12/10/2021 454.69
12/9/2021 134.31 -2% 12/9/2021 450.45
12/8/2021 132.47 -1% 12/8/2021 453.51
12/7/2021 133.82 1% 12/7/2021 452.32
12/6/2021 134.25 0% 12/6/2021 443.15
12/3/2021 132.81 -1% 12/3/2021 437.96
12/2/2021 130.84 -1% 12/2/2021 441.81
12/1/2021 132.46 1% 12/1/2021 435.14
11/30/2021 135.83 3% 11/30/2021 440.03
11/29/2021 137.76 1% 11/29/2021 448.76
11/26/2021 139.95 2% 11/26/2021 443.32
11/24/2021 141.53 1% 11/24/2021 453.44
11/23/2021 140.83 0% 11/23/2021 452.23
11/22/2021 139.83 -1% 11/22/2021 451.63
11/19/2021 137.53 -2% 11/19/2021 452.91
11/18/2021 138.27 1% 11/18/2021 453.72
11/17/2021 137.09 -1% 11/17/2021 452.18
11/16/2021 138.28 1% 11/16/2021 453.28
11/15/2021 141.89 3% 11/15/2021 451.50
11/12/2021 142.71 1% 11/12/2021 451.34
11/11/2021 143.43 1% 11/11/2021 447.96
11/10/2021 143.37 0% 11/10/2021 447.82
11/9/2021 144.67 1% 11/9/2021 451.45
11/8/2021 144.17 0% 11/8/2021 452.94
11/5/2021 145.10 1% 11/5/2021 452.56
11/4/2021 146.11 1% 11/4/2021 450.99
11/3/2021 145.05 -1% 11/3/2021 448.88
11/2/2021 144.61 0% 11/2/2021 446.15
11/1/2021 144.67 0% 11/1/2021 444.36
10/29/2021 144.32 0% 10/29/2021 443.59
10/28/2021 143.38 -1% 10/28/2021 442.70
10/27/2021 142.49 -1% 10/27/2021 438.47
10/26/2021 143.67 1% 10/26/2021 440.42
10/25/2021 144.93 1% 10/25/2021 440.02
10/22/2021 143.27 -1% 10/22/2021 437.67
10/21/2021 141.80 -1% 10/21/2021 438.13
10/20/2021 141.01 -1% 10/20/2021 436.99
10/19/2021 139.75 -1% 10/19/2021 435.28
10/18/2021 136.84 -2% 10/18/2021 431.95
10/15/2021 135.75 -1% 10/15/2021 430.67
10/14/2021 135.09 0% 10/14/2021 427.42
10/13/2021 133.64 -1% 10/13/2021 420.34
10/12/2021 134.62 1% 10/12/2021 418.84
10/11/2021 134.76 0% 10/11/2021 419.87
10/8/2021 134.89 0% 10/8/2021 422.93
10/7/2021 134.48 0% 10/7/2021 423.71
10/6/2021 132.92 -1% 10/6/2021 420.07
10/5/2021 131.95 -1% 10/5/2021 418.34
10/4/2021 131.09 -1% 10/4/2021 414.03
10/1/2021 132.37 1% 10/1/2021 419.44
9/30/2021 134.62 2% 9/30/2021 414.51
9/29/2021 135.64 1% 9/29/2021 419.64
9/28/2021 135.70 0% 9/28/2021 418.93
9/27/2021 137.39 1% 9/27/2021 427.55
9/24/2021 138.28 1% 9/24/2021 428.78
9/23/2021 137.89 0% 9/23/2021 428.07
9/22/2021 137.82 0% 9/22/2021 422.93
9/21/2021 138.14 0% 9/21/2021 418.85
9/20/2021 137.86 0% 9/20/2021 419.24
9/17/2021 139.79 1% 9/17/2021 426.35
9/16/2021 140.08 0% 9/16/2021 430.55
9/15/2021 139.61 0% 9/15/2021 431.23
9/14/2021 139.37 0% 9/14/2021 427.66
9/13/2021 140.11 1% 9/13/2021 429.98
9/10/2021 140.91 1% 9/10/2021 428.88
9/9/2021 141.42 0% 9/9/2021 432.29
9/8/2021 142.42 1% 9/8/2021 434.15
9/7/2021 142.24 0% 9/7/2021 434.68
9/3/2021 144.15 1% 9/3/2021 436.24
9/2/2021 143.49 0% 9/2/2021 436.34
9/1/2021 142.73 -1% 9/1/2021 435.00
8/31/2021 143.04 0% 8/31/2021 434.77
8/30/2021 142.66 0% 8/30/2021 435.42
8/27/2021 141.52 -1% 8/27/2021 433.51
8/26/2021 142.32 1% 8/26/2021 429.67
8/25/2021 143.87 1% 8/25/2021 432.22
8/24/2021 143.81 0% 8/24/2021 431.32
8/23/2021 145.31 1% 8/23/2021 430.63
8/20/2021 146.28 1% 8/20/2021 426.88
8/19/2021 144.98 -1% 8/19/2021 423.51
8/18/2021 144.01 -1% 8/18/2021 422.85
8/17/2021 145.55 1% 8/17/2021 427.53
8/16/2021 145.60 0% 8/16/2021 430.35
8/13/2021 144.42 -1% 8/13/2021 429.34
8/12/2021 143.97 0% 8/12/2021 428.56
8/11/2021 144.36 0% 8/11/2021 427.28
8/10/2021 143.08 -1% 8/10/2021 426.22
8/9/2021 140.09 -2% 8/9/2021 425.69
8/6/2021 139.76 0% 8/6/2021 426.04
8/5/2021 140.01 0% 8/5/2021 425.34
8/4/2021 137.46 -2% 8/4/2021 422.66
8/3/2021 138.40 1% 8/3/2021 424.75
 8/2/2021 136.86 -1% 8/2/2021 421.32
7/30/2021 137.18 0% 7/30/2021 422.21
7/29/2021 136.88 0% 7/29/2021 424.27
7/28/2021 136.70 0% 7/28/2021 422.52
7/27/2021 137.26 0% 7/27/2021 422.69
7/26/2021 137.25 0% 7/26/2021 424.63
7/23/2021 137.06 0% 7/23/2021 423.59
7/22/2021 135.94 -1% 7/22/2021 419.27
7/21/2021 135.85 0% 7/21/2021 418.40
7/20/2021 136.52 0% 7/20/2021 415.04
7/19/2021 135.91 0% 7/19/2021 409.17
7/16/2021 136.22 0% 7/16/2021 415.31
7/15/2021 136.32 0% 7/15/2021 418.59
7/14/2021 136.21 0% 7/14/2021 420.02
7/13/2021 135.28 -1% 7/13/2021 419.40
7/12/2021 134.77 0% 7/12/2021 420.83
7/9/2021 135.01 0% 7/9/2021 419.33
7/8/2021 134.33 -1% 7/8/2021 414.90
7/7/2021 134.44 0% 7/7/2021 418.31
7/6/2021 134.66 0% 7/6/2021 416.84
7/2/2021 134.83 0% 7/2/2021 417.60
7/1/2021 134.07 -1% 7/1/2021 414.43
6/30/2021 135.70 1% 6/30/2021 412.15
6/29/2021 132.12 -3% 6/29/2021 411.80
6/28/2021 132.89 1% 6/28/2021 411.58
6/25/2021 133.31 0% 6/25/2021 410.75
6/24/2021 131.75 -1% 6/24/2021 409.30
6/23/2021 130.83 -1% 6/23/2021 406.89
6/22/2021 131.86 1% 6/22/2021 407.38
6/21/2021 131.26 0% 6/21/2021 405.21
6/18/2021 130.07 -1% 6/18/2021 399.50
6/17/2021 132.53 2% 6/17/2021 404.96
6/16/2021 131.98 0% 6/16/2021 405.09
6/15/2021 134.72 2% 6/15/2021 407.37
6/14/2021 135.26 0% 6/14/2021 408.12
6/11/2021 135.44 0% 6/11/2021 407.20
6/10/2021 134.61 -1% 6/10/2021 406.53
6/9/2021 133.84 -1% 6/9/2021 404.65
6/8/2021 134.56 1% 6/8/2021 405.26
6/7/2021 135.59 1% 6/7/2021 405.17
6/4/2021 136.50 1% 6/4/2021 405.56
6/3/2021 136.26 0% 6/3/2021 401.89
6/2/2021 136.02 0% 6/2/2021 403.38
6/1/2021 136.32 0% 6/1/2021 402.75
5/28/2021 136.68 0% 5/28/2021 403.11
5/27/2021 136.35 0% 5/27/2021 402.39
5/26/2021 136.81 0% 5/26/2021 402.18
5/25/2021 136.97 0% 5/25/2021 401.38
5/24/2021 136.42 0% 5/24/2021 402.27
5/21/2021 136.41 0% 5/21/2021 398.21
5/20/2021 137.05 0% 5/20/2021 398.54
5/19/2021 136.57 0% 5/19/2021 394.30
5/18/2021 136.56 0% 5/18/2021 395.33
5/17/2021 133.65 -2% 5/17/2021 398.77
5/14/2021 134.26 0% 5/14/2021 399.79
5/13/2021 133.03 -1% 5/13/2021 393.74
5/12/2021 130.82 -2% 5/12/2021 389.07
5/11/2021 134.29 3% 5/11/2021 397.51
5/10/2021 135.51 1% 5/10/2021 401.09
5/7/2021 134.91 0% 5/7/2021 405.10
5/6/2021 135.73 1% 5/6/2021 402.18
5/5/2021 134.77 -1% 5/5/2021 398.99
5/4/2021 134.89 0% 5/4/2021 398.86
5/3/2021 136.23 1% 5/3/2021 401.34
4/30/2021 134.11 -2% 4/30/2021 400.48
4/29/2021 133.84 0% 4/29/2021 403.13
4/28/2021 132.17 -1% 4/28/2021 400.57
4/27/2021 132.64 0% 4/27/2021 400.69
4/26/2021 132.19 0% 4/26/2021 400.77
4/23/2021 134.10 1% 4/23/2021 399.94
4/22/2021 133.88 0% 4/22/2021 395.65
4/21/2021 135.35 1% 4/21/2021 399.30
4/20/2021 134.95 0% 4/20/2021 395.55
4/19/2021 133.92 -1% 4/19/2021 398.47
4/16/2021 134.78 1% 4/16/2021 400.44
4/15/2021 134.35 0% 4/15/2021 399.10
4/14/2021 133.54 -1% 4/14/2021 394.86
4/13/2021 133.59 0% 4/13/2021 396.22
4/12/2021 134.00 0% 4/12/2021 395.05
4/9/2021 133.98 0% 4/9/2021 394.90
4/8/2021 133.92 0% 4/8/2021 392.05
4/7/2021 134.00 0% 4/7/2021 390.20
4/6/2021 134.29 0% 4/6/2021 389.75
4/5/2021 133.65 0% 4/5/2021 389.98
4/1/2021 130.00 -3% 4/1/2021 384.46
3/31/2021 130.20 0% 3/31/2021 380.35
3/30/2021 130.11 0% 3/30/2021 378.82
3/29/2021 131.00 1% 3/29/2021 379.82
3/26/2021 129.53 -1% 3/26/2021 380.02
3/25/2021 128.45 -1% 3/25/2021 373.99
3/24/2021 127.59 -1% 3/24/2021 371.90
3/23/2021 128.39 1% 3/23/2021 373.80
3/22/2021 126.88 -1% 3/22/2021 376.76
3/19/2021 126.28 0% 3/19/2021 373.78
3/18/2021 124.62 -1% 3/18/2021 374.47
3/17/2021 126.27 1% 3/17/2021 380.00
3/16/2021 127.33 1% 3/16/2021 378.71
3/15/2021 127.37 0% 3/15/2021 379.19
3/12/2021 128.02 1% 3/12/2021 376.94
3/11/2021 126.13 -1% 3/11/2021 376.43
3/10/2021 126.17 0% 3/10/2021 372.65
3/9/2021 123.03 -2% 3/9/2021 370.35
3/8/2021 122.07 -1% 3/8/2021 365.14
3/5/2021 123.25 1% 3/5/2021 366.96
3/4/2021 121.73 -1% 3/4/2021 360.33
3/3/2021 121.79 0% 3/3/2021 364.85
3/2/2021 124.20 2% 3/2/2021 369.75
3/1/2021 125.40 1% 3/1/2021 372.65
2/26/2021 124.02 -1% 2/26/2021 363.83
2/25/2021 125.95 2% 2/25/2021 365.72
2/24/2021 127.16 1% 2/24/2021 374.75
2/23/2021 129.31 2% 2/23/2021 370.66
2/22/2021 131.43 2% 2/22/2021 370.21
2/19/2021 132.05 0% 2/19/2021 373.08
2/18/2021 131.40 0% 2/18/2021 373.74
2/17/2021 140.51 7% 2/17/2021 375.34
2/16/2021 139.04 -1% 2/16/2021 375.26
2/12/2021 137.90 -1% 2/12/2021 375.58
2/11/2021 137.47 0% 2/11/2021 373.73
2/10/2021 137.58 0% 2/10/2021 373.13
2/9/2021 139.20 1% 2/9/2021 373.29
2/8/2021 138.44 -1% 2/8/2021 373.54
2/5/2021 137.80 0% 2/5/2021 370.87
2/4/2021 136.05 -1% 2/4/2021 369.41
2/3/2021 134.78 -1% 2/3/2021 365.26
2/2/2021 134.37 0% 2/2/2021 364.97
2/1/2021 132.94 -1% 2/1/2021 359.88
1/29/2021 134.11 1% 1/29/2021 353.99
1/28/2021 137.22 2% 1/28/2021 361.22
1/27/2021 137.30 0% 1/27/2021 358.14
1/26/2021 140.81 3% 1/26/2021 367.12
1/25/2021 139.56 -1% 1/25/2021 367.69
1/22/2021 139.68 0% 1/22/2021 366.24
1/21/2021 138.27 -1% 1/21/2021 367.55
1/20/2021 138.90 0% 1/20/2021 367.21
1/19/2021 136.87 -1% 1/19/2021 362.20
1/15/2021 138.07 1% 1/15/2021 359.38
1/14/2021 140.29 2% 1/14/2021 362.02
1/13/2021 140.75 0% 1/13/2021 363.29
1/12/2021 142.20 1% 1/12/2021 362.31
1/11/2021 140.60 -1% 1/11/2021 362.24
1/8/2021 139.97 0% 1/8/2021 364.70
1/7/2021 139.99 0% 1/7/2021 362.63
1/6/2021 139.99 0% 1/6/2021 357.32
 1/5/2021 139.13 -1% 1/5/2021 355.20
1/4/2021 139.87 1% 1/4/2021 352.77
12/31/2020 137.60 -2% 12/31/2020 357.64
12/30/2020 137.63 0% 12/30/2020 355.83
12/29/2020 137.74 0% 12/29/2020 355.32
12/28/2020 138.62 1% 12/28/2020 356.00
12/24/2020 136.98 -1% 12/24/2020 352.97
12/23/2020 136.71 0% 12/23/2020 351.60
12/22/2020 137.65 1% 12/22/2020 351.28
12/21/2020 139.34 1% 12/21/2020 351.88
12/18/2020 139.32 0% 12/18/2020 353.14
12/17/2020 139.46 0% 12/17/2020 354.56
12/16/2020 138.82 0% 12/16/2020 352.58
12/15/2020 138.96 0% 12/15/2020 352.03
12/14/2020 139.03 0% 12/14/2020 347.34
12/11/2020 140.32 1% 12/11/2020 348.90
12/10/2020 140.36 0% 12/10/2020 349.31
12/9/2020 141.02 0% 12/9/2020 349.42
12/8/2020 142.14 1% 12/8/2020 352.58
12/7/2020 140.86 -1% 12/7/2020 351.56
12/4/2020 141.62 1% 12/4/2020 352.28
12/3/2020 142.00 0% 12/3/2020 349.27
12/2/2020 143.16 1% 12/2/2020 349.36
12/1/2020 145.17 1% 12/1/2020 348.63
11/30/2020 145.31 0% 11/30/2020 344.86
11/27/2020 144.18 -1% 11/27/2020 346.39
11/25/2020 144.40 0% 11/25/2020 345.43
11/24/2020 143.95 0% 11/24/2020 345.96
11/23/2020 143.55 0% 11/23/2020 340.48
11/20/2020 142.89 0% 11/20/2020 338.45
11/19/2020 144.68 1% 11/19/2020 340.78
11/18/2020 141.80 -2% 11/18/2020 339.35
11/17/2020 142.06 0% 11/17/2020 343.49
11/16/2020 144.98 2% 11/16/2020 345.35
11/13/2020 143.18 -1% 11/13/2020 341.09
11/12/2020 140.98 -2% 11/12/2020 336.43
11/11/2020 140.74 0% 11/11/2020 339.73
11/10/2020 138.44 -2% 11/10/2020 337.22
11/9/2020 136.52 -1% 11/9/2020 337.72
11/6/2020 138.64 2% 11/6/2020 333.52
11/5/2020 136.45 -2% 11/5/2020 333.60
11/4/2020 135.01 -1% 11/4/2020 327.22
11/3/2020 135.79 1% 11/3/2020 320.07
11/2/2020 133.53 -2% 11/2/2020 314.51
10/30/2020 131.96 -1% 10/30/2020 311.03
10/29/2020 133.07 1% 10/29/2020 314.30
10/28/2020 133.19 0% 10/28/2020 311.14
10/27/2020 135.88 2% 10/27/2020 322.15
10/26/2020 135.21 0% 10/26/2020 323.27
10/23/2020 136.81 1% 10/23/2020 329.35
10/22/2020 136.53 0% 10/22/2020 328.24
10/21/2020 137.34 1% 10/21/2020 326.45
10/20/2020 136.86 0% 10/20/2020 327.07
10/19/2020 135.96 -1% 10/19/2020 325.76
10/16/2020 137.63 1% 10/16/2020 330.79
10/15/2020 137.46 0% 10/15/2020 330.99
10/14/2020 136.90 0% 10/14/2020 331.40
10/13/2020 139.08 2% 10/13/2020 333.50
10/12/2020 137.19 -1% 10/12/2020 335.69
10/9/2020 135.79 -1% 10/9/2020 330.37
10/8/2020 134.44 -1% 10/8/2020 327.45
10/7/2020 134.00 0% 10/7/2020 324.57
10/6/2020 133.75 0% 10/6/2020 319.02
10/5/2020 134.86 1% 10/5/2020 323.62
10/2/2020 133.63 -1% 10/2/2020 317.98
10/1/2020 136.08 2% 10/1/2020 321.03
9/30/2020 133.07 -2% 9/30/2020 318.98
9/29/2020 130.43 -2% 9/29/2020 316.58
9/28/2020 130.54 0% 9/28/2020 318.31
9/25/2020 130.55 0% 9/25/2020 313.11
9/24/2020 130.01 0% 9/24/2020 308.13
9/23/2020 129.34 -1% 9/23/2020 307.31
9/22/2020 131.54 2% 9/22/2020 314.61
9/21/2020 130.36 -1% 9/21/2020 311.44
9/18/2020 128.67 -1% 9/18/2020 314.94
9/17/2020 130.00 1% 9/17/2020 318.61
9/16/2020 129.59 0% 9/16/2020 321.44
9/15/2020 130.64 1% 9/15/2020 322.72
9/14/2020 130.60 0% 9/14/2020 321.10
9/11/2020 130.01 0% 9/11/2020 316.92
9/10/2020 130.12 0% 9/10/2020 316.76
9/9/2020 133.05 2% 9/9/2020 322.36
9/8/2020 131.68 -1% 9/8/2020 316.11
9/4/2020 135.84 3% 9/4/2020 324.99
9/3/2020 137.47 1% 9/3/2020 327.67
9/2/2020 140.45 2% 9/2/2020 339.35
9/1/2020 140.37 0% 9/1/2020 334.51
8/31/2020 132.06 -6% 8/31/2020 331.39
8/28/2020 133.44 1% 8/28/2020 332.59
8/27/2020 129.95 -3% 8/27/2020 330.46
8/26/2020 124.31 -4% 8/26/2020 329.74
8/25/2020 124.24 0% 8/25/2020 326.47
8/24/2020 124.90 1% 8/24/2020 325.33
8/21/2020 125.19 0% 8/21/2020 322.06
8/20/2020 124.18 -1% 8/20/2020 320.92
8/19/2020 125.93 1% 8/19/2020 319.93
8/18/2020 128.12 2% 8/18/2020 321.27
8/17/2020 128.97 1% 8/17/2020 320.57
8/14/2020 126.11 -2% 8/14/2020 319.56
8/13/2020 125.40 -1% 8/13/2020 319.55
8/12/2020 124.92 0% 8/12/2020 320.13
8/11/2020 123.32 -1% 8/11/2020 315.73
8/10/2020 124.91 1% 8/10/2020 318.35
8/7/2020 123.11 -1% 8/7/2020 317.40
8/6/2020 122.52 0% 8/6/2020 317.18
8/5/2020 122.95 0% 8/5/2020 315.07
8/4/2020 124.69 1% 8/4/2020 313.13
8/3/2020 122.47 -2% 8/3/2020 311.92
7/31/2020 122.57 0% 7/31/2020 309.77
7/30/2020 123.25 1% 7/30/2020 307.34
7/29/2020 123.79 0% 7/29/2020 308.44
7/28/2020 124.80 1% 7/28/2020 304.69
7/27/2020 124.28 0% 7/27/2020 306.64
7/24/2020 124.31 0% 7/24/2020 304.42
7/23/2020 124.69 0% 7/23/2020 306.39
7/22/2020 125.65 1% 7/22/2020 310.09
7/21/2020 125.34 0% 7/21/2020 308.34
7/20/2020 124.53 -1% 7/20/2020 307.68
7/17/2020 124.78 0% 7/17/2020 305.21
7/16/2020 125.22 0% 7/16/2020 304.33
7/15/2020 125.03 0% 7/15/2020 305.34
7/14/2020 125.04 0% 7/14/2020 302.56
7/13/2020 122.68 -2% 7/13/2020 298.69
7/10/2020 123.78 1% 7/10/2020 301.30
7/9/2020 121.00 -2% 7/9/2020 298.25
7/8/2020 117.87 -3% 7/8/2020 299.96
7/7/2020 120.24 2% 7/7/2020 297.68
7/6/2020 112.61 -6% 7/6/2020 300.78
7/2/2020 112.91 0% 7/2/2020 296.21
7/1/2020 113.37 0% 7/1/2020 294.59
6/30/2020 113.45 0% 6/30/2020 292.54
6/29/2020 112.77 -1% 6/29/2020 288.84
6/26/2020 112.07 -1% 6/26/2020 284.66
6/25/2020 113.39 1% 6/25/2020 291.58
6/24/2020 113.95 0% 6/24/2020 288.49
6/23/2020 114.68 1% 6/23/2020 296.04
6/22/2020 115.25 1% 6/22/2020 294.68
6/19/2020 113.52 -2% 6/19/2020 292.81
6/18/2020 111.76 -2% 6/18/2020 294.49
6/17/2020 112.74 1% 6/17/2020 294.37
6/16/2020 113.33 1% 6/16/2020 295.60
6/15/2020 111.84 -1% 6/15/2020 290.02
6/12/2020 111.52 0% 6/12/2020 287.34
6/11/2020 113.75 2% 6/11/2020 283.94
6/10/2020 114.76 1% 6/10/2020 301.31
6/9/2020 114.94 0% 6/9/2020 303.00
6/8/2020 114.84 0% 6/8/2020 305.27
6/5/2020 115.14 0% 6/5/2020 301.63
6/4/2020 115.66 0% 6/4/2020 294.09
6/3/2020 116.95 1% 6/3/2020 294.87
6/2/2020 117.39 0% 6/2/2020 290.99
6/1/2020 117.41 0% 6/1/2020 288.60
5/29/2020 117.51 0% 5/29/2020 287.44
5/28/2020 117.16 0% 5/28/2020 286.17
5/27/2020 116.01 -1% 5/27/2020 286.70
5/26/2020 117.32 1% 5/26/2020 282.49
5/22/2020 117.76 0% 5/22/2020 279.05
5/21/2020 118.39 1% 5/21/2020 278.53
5/20/2020 118.82 0% 5/20/2020 280.46
5/19/2020 118.35 0% 5/19/2020 275.78
5/18/2020 120.92 2% 5/18/2020 278.64
5/15/2020 119.29 -1% 5/15/2020 270.40
5/14/2020 116.90 -2% 5/14/2020 269.17
5/13/2020 117.18 0% 5/13/2020 265.98
5/12/2020 117.24 0% 5/12/2020 270.77
5/11/2020 117.14 0% 5/11/2020 276.28
5/8/2020 116.45 -1% 5/8/2020 276.22
5/7/2020 115.45 -1% 5/7/2020 271.72
5/6/2020 116.28 1% 5/6/2020 268.49
5/5/2020 117.62 1% 5/5/2020 270.32
5/4/2020 116.65 -1% 5/4/2020 267.84
5/1/2020 115.92 -1% 5/1/2020 267.11
4/30/2020 114.63 -1% 4/30/2020 274.37
4/29/2020 116.56 2% 4/29/2020 276.95
4/28/2020 120.71 4% 4/28/2020 269.88
4/27/2020 120.99 0% 4/27/2020 271.13
4/24/2020 122.07 1% 4/24/2020 267.28
4/23/2020 121.21 -1% 4/23/2020 263.60
4/22/2020 124.09 2% 4/22/2020 263.62
4/21/2020 121.85 -2% 4/21/2020 257.90
4/20/2020 122.45 0% 4/20/2020 265.97
4/17/2020 124.59 2% 4/17/2020 270.74
4/16/2020 124.79 0% 4/16/2020 263.62
4/15/2020 121.43 -3% 4/15/2020 262.36
4/14/2020 121.65 0% 4/14/2020 268.05
4/13/2020 118.16 -3% 4/13/2020 260.37
4/9/2020 114.86 -3% 4/9/2020 262.77
4/8/2020 114.90 0% 4/8/2020 258.83
4/7/2020 115.04 0% 4/7/2020 250.43
4/6/2020 118.89 3% 4/6/2020 250.17
4/3/2020 112.67 -5% 4/3/2020 234.43
4/2/2020 111.89 -1% 4/2/2020 237.86
 4/1/2020 107.64 -4% 4/1/2020 232.50
3/31/2020 107.15 0% 3/31/2020 243.45
3/30/2020 108.63 1% 3/30/2020 247.14
3/27/2020 103.34 -5% 3/27/2020 239.36
3/26/2020 103.56 0% 3/26/2020 246.71
3/25/2020 103.17 0% 3/25/2020 233.10
3/24/2020 108.48 5% 3/24/2020 229.66
3/23/2020 107.77 -1% 3/23/2020 210.58
3/20/2020 107.48 0% 3/20/2020 216.11
3/19/2020 112.65 5% 3/19/2020 225.84
3/18/2020 115.09 2% 3/18/2020 225.36
3/17/2020 111.97 -3% 3/17/2020 237.38
3/16/2020 100.23 -10% 3/16/2020 225.22
3/13/2020 107.13 7% 3/13/2020 252.90
3/12/2020 97.69 -9% 3/12/2020 232.98
3/11/2020 107.44 10% 3/11/2020 257.63
3/10/2020 112.47 5% 3/10/2020 270.83
3/9/2020 110.00 -2% 3/9/2020 257.51
3/6/2020 110.06 0% 3/6/2020 279.32
3/5/2020 108.83 -1% 3/5/2020 284.02
3/4/2020 109.63 1% 3/4/2020 293.78
3/3/2020 106.01 -3% 3/3/2020 281.93
3/2/2020 108.80 3% 3/2/2020 290.24
2/28/2020 101.10 -7% 2/28/2020 278.19
2/27/2020 103.65 3% 2/27/2020 279.37
2/26/2020 106.83 3% 2/26/2020 292.50
2/25/2020 107.40 1% 2/25/2020 293.58
2/24/2020 109.21 2% 2/24/2020 302.76
2/21/2020 111.33 2% 2/21/2020 313.14
2/20/2020 110.50 -1% 2/20/2020 316.40
2/19/2020 110.49 0% 2/19/2020 317.71
2/18/2020 112.32 2% 2/18/2020 316.20
2/14/2020 110.68 -1% 2/14/2020 317.01
2/13/2020 110.26 0% 2/13/2020 316.51
2/12/2020 108.77 -1% 2/12/2020 316.84
2/11/2020 108.35 0% 2/11/2020 314.81
2/10/2020 108.21 0% 2/10/2020 314.27
2/7/2020 109.33 1% 2/7/2020 311.94
2/6/2020 109.20 0% 2/6/2020 313.61
2/5/2020 109.67 0% 2/5/2020 312.56
2/4/2020 108.22 -1% 2/4/2020 308.99
2/3/2020 107.29 -1% 2/3/2020 304.35
1/31/2020 107.49 0% 1/31/2020 302.11
1/30/2020 109.45 2% 1/30/2020 307.70
1/29/2020 108.81 -1% 1/29/2020 306.70
1/28/2020 109.47 1% 1/28/2020 306.96
1/27/2020 108.78 -1% 1/27/2020 303.77
1/24/2020 107.38 -1% 1/24/2020 308.72
 1/23/2020 108.73 1% 1/23/2020 311.49
1/22/2020 109.00 0% 1/22/2020 311.13
1/21/2020 108.53 0% 1/21/2020 311.10
1/17/2020 107.93 -1% 1/17/2020 311.71
1/16/2020 108.82 1% 1/16/2020 310.74
1/15/2020 108.23 -1% 1/15/2020 308.18
1/14/2020 109.08 1% 1/14/2020 307.48
1/13/2020 108.80 0% 1/13/2020 307.95
1/10/2020 109.27 0% 1/10/2020 305.85
1/9/2020 110.19 1% 1/9/2020 306.73
1/8/2020 109.06 -1% 1/8/2020 304.66
1/7/2020 109.44 0% 1/7/2020 303.05
1/6/2020 110.46 1% 1/6/2020 303.90
1/3/2020 110.68 0% 1/3/2020 302.75
1/2/2020 111.67 1% 1/2/2020 305.06
12/31/2019 111.58 0% 12/31/2019 302.23
12/30/2019 112.10 0% 12/30/2019 301.50
12/27/2019 112.28 0% 12/27/2019 303.17
12/26/2019 112.21 0% 12/26/2019 303.25
12/24/2019 112.21 0% 12/24/2019 301.64
12/23/2019 111.75 0% 12/23/2019 301.63
12/20/2019 112.94 1% 12/20/2019 301.17
12/19/2019 112.74 0% 12/19/2019 299.86
12/18/2019 112.53 0% 12/18/2019 298.63
12/17/2019 113.87 1% 12/17/2019 298.61
12/16/2019 113.17 -1% 12/16/2019 298.55
12/13/2019 112.94 0% 12/13/2019 296.51
12/12/2019 112.44 0% 12/12/2019 296.33
12/11/2019 111.73 -1% 12/11/2019 293.80
12/10/2019 111.86 0% 12/10/2019 292.97
12/9/2019 112.06 0% 12/9/2019 293.30
12/6/2019 112.46 0% 12/6/2019 294.22
12/5/2019 111.41 -1% 12/5/2019 291.56
12/4/2019 110.94 0% 12/4/2019 291.04
12/3/2019 110.92 0% 12/3/2019 289.25
12/2/2019 111.49 1% 12/2/2019 291.20
11/29/2019 111.31 0% 11/29/2019 293.70
11/27/2019 111.00 0% 11/27/2019 294.79
11/26/2019 111.41 0% 11/26/2019 293.48
11/25/2019 111.15 0% 11/25/2019 292.82
11/22/2019 111.56 0% 11/22/2019 290.57
11/21/2019 112.03 0% 11/21/2019 289.92
11/20/2019 111.35 -1% 11/20/2019 290.39
11/19/2019 112.06 1% 11/19/2019 291.47
11/18/2019 112.40 0% 11/18/2019 291.56
11/15/2019 111.11 -1% 11/15/2019 291.34
11/14/2019 112.77 1% 11/14/2019 289.25
11/13/2019 113.08 0% 11/13/2019 288.83
11/12/2019 111.34 -2% 11/12/2019 288.74
11/11/2019 111.27 0% 11/11/2019 288.13
11/8/2019 111.64 0% 11/8/2019 288.68
11/7/2019 112.38 1% 11/7/2019 287.97
11/6/2019 111.70 -1% 11/6/2019 286.96
11/5/2019 111.10 -1% 11/5/2019 286.90
11/4/2019 109.89 -1% 11/4/2019 287.21
11/1/2019 109.94 0% 11/1/2019 286.06
10/31/2019 109.60 0% 10/31/2019 283.44
10/30/2019 110.39 1% 10/30/2019 284.20
10/29/2019 109.50 -1% 10/29/2019 283.33
10/28/2019 111.43 2% 10/28/2019 283.41
10/25/2019 111.27 0% 10/25/2019 281.82
10/24/2019 111.32 0% 10/24/2019 280.67
10/23/2019 111.55 0% 10/23/2019 280.21
10/22/2019 111.77 0% 10/22/2019 279.40
10/21/2019 111.92 0% 10/21/2019 280.32
10/18/2019 111.36 -1% 10/18/2019 278.43
10/17/2019 112.01 1% 10/17/2019 279.65
10/16/2019 111.62 0% 10/16/2019 278.83
10/15/2019 111.72 0% 10/15/2019 279.28
10/14/2019 111.39 0% 10/14/2019 276.54
10/11/2019 112.39 1% 10/11/2019 276.85
10/10/2019 111.80 -1% 10/10/2019 274.01
10/9/2019 111.16 -1% 10/9/2019 272.17
10/8/2019 109.90 -1% 10/8/2019 269.61
10/7/2019 109.57 0% 10/7/2019 273.86
10/4/2019 110.44 1% 10/4/2019 275.05
10/3/2019 108.71 -2% 10/3/2019 271.38
10/2/2019 108.54 0% 10/2/2019 269.17
10/1/2019 110.15 1% 10/1/2019 274.01
9/30/2019 110.93 1% 9/30/2019 277.31
9/27/2019 110.71 0% 9/27/2019 276.03
9/26/2019 110.57 0% 9/26/2019 277.52
9/25/2019 110.73 0% 9/25/2019 278.10
9/24/2019 110.67 0% 9/24/2019 276.47
9/23/2019 109.94 -1% 9/23/2019 278.65
9/20/2019 109.34 -1% 9/20/2019 278.72
9/19/2019 109.46 0% 9/19/2019 280.04
9/18/2019 109.51 0% 9/18/2019 280.06
9/17/2019 108.90 -1% 9/17/2019 279.89
9/16/2019 108.02 -1% 9/16/2019 279.19
9/13/2019 109.76 2% 9/13/2019 280.05
9/12/2019 109.28 0% 9/12/2019 280.24
9/11/2019 108.44 -1% 9/11/2019 279.27
9/10/2019 108.47 0% 9/10/2019 277.30
9/9/2019 108.73 0% 9/9/2019 277.36
9/6/2019 107.24 -1% 9/6/2019 277.22
 9/5/2019 107.90 1% 9/5/2019 277.01
9/4/2019 108.34 0% 9/4/2019 273.49
9/3/2019 107.15 -1% 9/3/2019 270.43
8/30/2019 106.80 0% 8/30/2019 272.02
8/29/2019 106.63 0% 8/29/2019 272.14
8/28/2019 105.36 -1% 8/28/2019 268.70
8/27/2019 105.08 0% 8/27/2019 266.83
8/26/2019 104.68 0% 8/26/2019 267.88
8/23/2019 103.59 -1% 8/23/2019 264.95
8/22/2019 104.60 1% 8/22/2019 271.93
8/21/2019 104.70 0% 8/21/2019 272.02
8/20/2019 104.73 0% 8/20/2019 269.82
8/19/2019 106.38 2% 8/19/2019 271.90
8/16/2019 105.61 -1% 8/16/2019 268.67
8/15/2019 105.33 0% 8/15/2019 264.76
8/14/2019 99.26 -6% 8/14/2019 264.06
8/13/2019 100.39 1% 8/13/2019 272.11
8/12/2019 98.35 -2% 8/12/2019 267.94
8/9/2019 100.27 2% 8/9/2019 271.24
8/8/2019 101.43 1% 8/8/2019 273.10
8/7/2019 100.64 -1% 8/7/2019 267.85
8/6/2019 99.77 -1% 8/6/2019 267.69
8/5/2019 98.42 -1% 8/5/2019 263.99
8/2/2019 101.75 3% 8/2/2019 272.17
8/1/2019 101.74 0% 8/1/2019 274.24
7/31/2019 102.67 1% 7/31/2019 276.65
7/30/2019 104.23 2% 7/30/2019 279.71
7/29/2019 104.42 0% 7/29/2019 280.40
7/26/2019 105.12 1% 7/26/2019 280.91
7/25/2019 104.38 -1% 7/25/2019 279.04
7/24/2019 104.17 0% 7/24/2019 280.38
7/23/2019 104.26 0% 7/23/2019 279.07
7/22/2019 104.93 1% 7/22/2019 277.08
7/19/2019 105.94 1% 7/19/2019 276.41
7/18/2019 106.70 1% 7/18/2019 277.95
7/17/2019 106.59 0% 7/17/2019 276.94
7/16/2019 106.74 0% 7/16/2019 278.83
7/15/2019 106.94 0% 7/15/2019 279.74
7/12/2019 106.59 0% 7/12/2019 279.64
7/11/2019 105.96 -1% 7/11/2019 278.40
7/10/2019 105.08 -1% 7/10/2019 277.75
7/9/2019 104.99 0% 7/9/2019 276.42
7/8/2019 104.84 0% 7/8/2019 276.08
7/5/2019 104.15 -1% 7/5/2019 277.61
7/3/2019 104.47 0% 7/3/2019 277.92
7/2/2019 103.80 -1% 7/2/2019 275.72
7/1/2019 102.89 -1% 7/1/2019 275.00
6/28/2019 102.77 0% 6/28/2019 272.53
6/27/2019 102.41 0% 6/27/2019 271.13
6/26/2019 102.46 0% 6/26/2019 270.17
6/25/2019 102.98 1% 6/25/2019 270.44
6/24/2019 103.47 0% 6/24/2019 273.12
6/21/2019 103.36 0% 6/21/2019 273.46
6/20/2019 102.61 -1% 6/20/2019 273.86
6/19/2019 101.96 -1% 6/19/2019 271.26
6/18/2019 101.99 0% 6/18/2019 270.65
6/17/2019 101.53 0% 6/17/2019 267.85
6/14/2019 101.45 0% 6/14/2019 267.75
6/13/2019 101.06 0% 6/13/2019 268.04
6/12/2019 101.21 0% 6/12/2019 266.94
6/11/2019 100.40 -1% 6/11/2019 267.41
6/10/2019 100.01 0% 6/10/2019 267.48
6/7/2019 98.65 -1% 6/7/2019 266.26
6/6/2019 97.76 -1% 6/6/2019 263.62
6/5/2019 97.12 -1% 6/5/2019 261.91
6/4/2019 95.39 -2% 6/4/2019 259.67
6/3/2019 94.83 -1% 6/3/2019 254.15
5/31/2019 94.35 -1% 5/31/2019 254.80
5/30/2019 95.05 1% 5/30/2019 258.28
5/29/2019 94.98 0% 5/29/2019 257.57
5/28/2019 95.26 0% 5/28/2019 259.31
5/24/2019 95.49 0% 5/24/2019 261.75
5/23/2019 94.74 -1% 5/23/2019 261.16
5/22/2019 95.09 0% 5/22/2019 264.39
5/21/2019 94.05 -1% 5/21/2019 265.20
5/20/2019 94.42 0% 5/20/2019 262.83
5/17/2019 93.81 -1% 5/17/2019 264.58
5/16/2019 94.23 0% 5/16/2019 266.30
5/15/2019 92.90 -1% 5/15/2019 263.86
5/14/2019 93.28 0% 5/14/2019 262.32
5/13/2019 92.91 0% 5/13/2019 259.97
5/10/2019 94.79 2% 5/10/2019 266.67
5/9/2019 92.58 -2% 5/9/2019 265.34
5/8/2019 92.80 0% 5/8/2019 266.15
5/7/2019 93.72 1% 5/7/2019 266.52
5/6/2019 94.80 1% 5/6/2019 271.04
5/3/2019 94.44 0% 5/3/2019 272.16
5/2/2019 93.58 -1% 5/2/2019 269.52
5/1/2019 93.78 0% 5/1/2019 270.11
4/30/2019 95.15 1% 4/30/2019 272.15
4/29/2019 93.96 -1% 4/29/2019 272.01
4/26/2019 93.93 0% 4/26/2019 271.59
4/25/2019 95.78 2% 4/25/2019 270.33
4/24/2019 95.79 0% 4/24/2019 270.50
4/23/2019 95.36 0% 4/23/2019 271.10
4/22/2019 94.71 -1% 4/22/2019 268.68
4/18/2019 95.46 1% 4/18/2019 268.45
4/17/2019 95.44 0% 4/17/2019 267.92
4/16/2019 95.23 0% 4/16/2019 268.58
4/15/2019 94.77 0% 4/15/2019 268.40
4/12/2019 93.96 -1% 4/12/2019 268.58
4/11/2019 93.26 -1% 4/11/2019 266.77
4/10/2019 92.15 -1% 4/10/2019 266.85
4/9/2019 91.31 -1% 4/9/2019 265.94
4/8/2019 91.81 1% 4/8/2019 267.31
4/5/2019 91.44 0% 4/5/2019 267.11
4/4/2019 90.77 -1% 4/4/2019 265.82
4/3/2019 89.92 -1% 4/3/2019 265.12
4/2/2019 89.69 0% 4/2/2019 264.70
4/1/2019 90.50 1% 4/1/2019 264.57
3/29/2019 90.23 0% 3/29/2019 261.47
3/28/2019 89.86 0% 3/28/2019 259.83
3/27/2019 89.94 0% 3/27/2019 258.85
3/26/2019 90.97 1% 3/26/2019 260.21
3/25/2019 90.83 0% 3/25/2019 258.29
3/22/2019 90.93 0% 3/22/2019 258.48
3/21/2019 91.65 1% 3/21/2019 263.55
3/20/2019 91.26 0% 3/20/2019 260.61
3/19/2019 92.38 1% 3/19/2019 261.40
3/18/2019 92.20 0% 3/18/2019 261.33
3/15/2019 91.06 -1% 3/15/2019 260.39
3/14/2019 90.87 0% 3/14/2019 259.11
3/13/2019 91.13 0% 3/13/2019 259.27
3/12/2019 90.52 -1% 3/12/2019 257.57
3/11/2019 90.63 0% 3/11/2019 256.60
3/8/2019 89.81 -1% 3/8/2019 252.93
3/7/2019 89.68 0% 3/7/2019 253.44
3/6/2019 90.42 1% 3/6/2019 255.58
3/5/2019 90.50 0% 3/5/2019 257.14
3/4/2019 90.05 0% 3/4/2019 257.49
3/1/2019 90.12 0% 3/1/2019 258.43
2/28/2019 91.09 1% 2/28/2019 256.82
2/27/2019 90.29 -1% 2/27/2019 257.30
2/26/2019 90.82 1% 2/26/2019 257.41
2/25/2019 91.21 0% 2/25/2019 257.60
2/22/2019 91.61 0% 2/22/2019 257.25
2/21/2019 91.46 0% 2/21/2019 255.66
2/20/2019 91.91 0% 2/20/2019 256.57
2/19/2019 94.05 2% 2/19/2019 256.06
2/15/2019 92.02 -2% 2/15/2019 255.61
2/14/2019 90.66 -1% 2/14/2019 252.86
2/13/2019 90.13 -1% 2/13/2019 253.42
2/12/2019 89.24 -1% 2/12/2019 252.60
2/11/2019 88.53 -1% 2/11/2019 249.39
 2/8/2019 87.96 -1% 2/8/2019 249.26
2/7/2019 89.02 1% 2/7/2019 248.95
2/6/2019 88.01 -1% 2/6/2019 251.35
2/5/2019 87.98 0% 2/5/2019 251.68
2/4/2019 87.21 -1% 2/4/2019 250.63
2/1/2019 86.37 -1% 2/1/2019 248.88
1/31/2019 88.19 2% 1/31/2019 248.76
1/30/2019 87.24 -1% 1/30/2019 246.59
1/29/2019 89.00 2% 1/29/2019 242.75
1/28/2019 89.32 0% 1/28/2019 243.07
1/25/2019 89.21 0% 1/25/2019 244.93
1/24/2019 90.52 1% 1/24/2019 242.88
P 500
Return Beta 0.4831175958
Covariance 8.567409E-05
0% Variance 0.00017733589
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 Walmart Inc.
WACC
Cost of Equity
Beta 0.48
Risk-Free Rate 4.18%
Expected Market Return 8.50%
Risk Premium 4.32%
Cost of Equity 6.27%
Cost of Debt
Credit Spread 3.00%
Pre-Tax Cost of Debt 7.18%
Tax Rate 33.64%
Cost of Debt 4.76%

Shares Outstanding 2,692,233,703

Share Price $ 162.84
Market Capitalization 438,403,336,197
Debt Outstanding 34,649,000,000
Total Capitalization 473,052,336,197

Weight of Equity 92.68%

Weight of Debt 7.32%
WACC 6.15%
Walmart Inc.
Discounted Cash Flows
FY 2021 FY 2022
($USD in Thousands)
EBIT 22,548,000 25,942,000
(1-T) 66.4% 66.4%
NOPAT 14,962,853 17,215,111
Add: D&A 11,152,000 10,658,000
Less: CapEx 10,264,000 13,106,000
Less: Change in NWC 2,147,000 (230,000)
FCFF 13,703,853 14,997,111

Discount Factor
PV of Cash Flows

WACC 6.15%
Terminal Growth Rate 2.00%
Terminal Multiple 11.98

Gordon Growth
Terminal CF 23,308,087
WACC 6.15%
Terminal Growth Rate 2.00%
Terminal Value 572,196,236
PV of Terminal Value 418,176,384
Enterprise Value 512,809,526
Less: Debt 34,649,000
Add: Cash 8,625,000
Equity Value 486,785,526
Diluted Shares Outstanding 2,692,234
Price Per Share $ 180.81

Perpetuity Grow
$ 180.81 1.00%
5.15%
WACC 5.65%
6.15%
6.65%
7.15%
 EV/EBITD
$ 198.12 10.98
5.15%
WACC 5.65%
6.15%
6.65%
7.15%
 FY 2023 FY 2024E FY 2025E

20,392,000 26,116,683 26,045,343

66.4% 66.4% 66.4%
13,532,131 17,331,031 17,283,690
10,945,000 12,655,323 13,992,260
16,857,000 14,894,360 15,997,149
(2,827,000) 798,150 1,353,996
10,447,131 14,293,844 13,924,805

0.25 1.250
$14,081,989 $12,923,020

Multiples Method
Terminal EBITDA 53,090,832
EV/EBITDA 11.98
Terminal Value 635,944,231
PV of Terminal Value 464,765,131
Enterprise Value 559,398,274
Less: Debt 34,649,000
Add: Cash 8,625,000
Equity Value 533,374,274
Diluted Shares Outstanding 2,692,234
Price Per Share 198.12

Perpetuity Growth Rate

1.50% 2.00% 2.50%
EV/EBITDA
11.48 11.98 12.48
FY 2026E FY 2027E FY 2028E FY 2029E

29,607,408 31,111,328 31,947,911 33,903,088

66.4% 66.4% 66.4% 66.4%
19,647,476 20,645,477 21,200,634 22,498,089
15,328,429 16,627,970 17,861,244 19,187,744
17,037,794 17,982,558 18,807,800 19,686,357
(2,351,722) (1,425,101) (105,022) (1,308,611)
20,289,833 20,715,991 20,359,100 23,308,087

2.250 3.250 4.250 5.250

$17,738,352 $17,060,840 $15,794,765 $17,034,177

3.00%
12.98
Walmart Inc.
Comparable Companies Analysis ($USD in Thousands, except share price)
Walmart Inc.
Costco Wholesale Corp
Target Corp
Dollar Tree
BJ's
 Ticker Share Price Market Cap Shares Outstanding
WMT $ 162.84 438,403,336 2,692,234
COST $ 679.90 301,296,325 443,148
TGT $ 142.18 65,630,999 461,605
DLTR $ 132.23 29,091,261 220,005
BJ $ 64.84 8,671,118 133,731
 Last 12 Months
Cash Total Debt Enterprise Value Revenue
8,625,000 34,649,000 464,427,336 638,785,000
17,864,000 9,347,000 292,779,325 302,039,300
1,910,000 19,346,000 83,066,999 106,888,000
444,600 10,458,700 39,105,361 29,684,600
33,600 3,097,600 11,735,118 19,541,000
EBITDA EBIT EPS FCFF
33,977,000 21,776,000 5.47 10,447,131
10,776,000 8,645,000 15.17 8,803,000
8,121,000 5,164,000 8.12 3,641,000
2,438,600 1,627,300 5.27 665,100
1,011,700 793,600 3.83 168,400

Minimum
Quartile 1
Median
Quartile 3
Maximum
Average

Minimum
Quartile 1
Median
Quartile 3
Maximum
Average
EV/Revenue EV/EBITDA EV/EBIT EV/FCFF
0.727 13.67 21.33 44.46
0.97 27.17 33.87 33.26
0.777 10.23 16.09 22.81
1.317 16.04 24.03 58.80
0.601 11.60 14.79 69.69

0.60 10.23 14.79 22.81

0.73 11.60 16.09 33.26
0.78 13.67 21.33 44.46
0.97 16.04 24.03 58.80
1.32 27.17 33.87 69.69
0.88 15.74 22.02 45.80

132.82 119.42 109.94 78.86

162.84 136.72 120.44 119.39
174.73 162.84 162.84 162.84
220.33 192.71 184.71 218.49
302.90 333.22 264.26 260.75
198.72 188.98 168.44 168.07
 FWD 2024 FY Forecast
P/E Revenue EBITDA
29.77 649,322,000 38,772,006
44.82 254,265,500 11,312,800
17.51 106,273,100 8,086,200
25.09 30,618,600 2,671,700
16.93 20,003,900 1,069,000

16.93
17.51
25.09
29.77
44.82
26.82

92.60
95.78
137.25
162.84
245.16
146.73
EBIT EPS FCFF EV/Revenue
26,116,683 6.46 14,293,844 0.72
9,055,000 15.69 5,799,400 1.15
5,379,600 8.41 2,763,900 0.78
1,814,700 5.95 420,100 1.28
799,500 3.86 333,000 0.59

0.59
0.72
0.78
1.15
1.28
0.90

131.82
162.84
178.85
268.05
298.37
207.99
 FWD 2025 FY Forecast
EV/EBITDA EV/EBIT EV/FCFF Revenue
11.98 17.78 32.49 697,398,237
25.88 32.33 50.48 271,845,300
10.27 15.44 30.05 106,684,300
14.64 21.55 93.09 31,720,000
10.98 14.68 35.24 20,590,400

10.27 14.68 30.05

10.98 15.44 32.49
11.98 17.78 35.24
14.64 21.55 50.48
25.88 32.33 93.09
14.75 20.36 48.27

138.28 132.72 149.90

148.43 140.12 162.84
162.84 162.84 177.44
201.13 199.38 258.37
363.05 303.99 484.55
202.74 187.81 246.62
EBITDA EBIT EPS FCFF
40,037,604 26,045,343 7.12 13,924,805
12,356,700 9,993,400 17.16 6,647,200
8,626,600 5,762,200 9.15 3,363,900
3,021,000 2,115,400 7.02 468,700
1,092,000 732,500 3.99 357,500
EV/Revenue EV/EBITDA EV/EBIT EV/FCFF
0.67 11.60 17.83 33.35
1.08 23.69 29.30 44.05
0.78 9.63 14.42 24.69
1.23 12.94 18.49 83.43
0.57 10.75 16.02 32.83

0.57 9.63 14.42 24.69

0.67 10.75 16.02 32.83
0.78 11.60 17.83 33.35
1.08 12.94 18.49 44.05
1.23 23.69 29.30 83.43
0.86 13.72 19.21 43.67

137.97 133.53 129.80 118.05

162.84 150.15 145.32 160.11
192.03 162.84 162.84 162.84
269.32 182.84 169.17 218.15
309.69 342.70 273.76 421.87
214.37 194.41 176.18 216.21
 Min Spread Max
FWD 2025 EV/Revenue 162.84 106.48 269.32
FWD 2025 EV/EBITDA 150.15 32.69 182.84
FWD 2024 EV/Revenue 162.84 105.21 268.05
FWD 2024 EV/EBITDA 148.43 52.70 201.13
LTM EV/Revenue 162.84 57.49 220.33
LTM EV/EBITDA 136.72 55.99 192.71
P/E 95.78 67.06 162.84
DCF GG 150.18 81.18 231.37
DCF MM 186.47 23.91 210.39
Analyst Consesus 155 45.00 200
52 Week Range 128.07 37.78 165.85

FWD 2025 EV/Revenue 214.37 14% 30.62

FWD 2025 EV/EBITDA 194.41 14% 27.77
FWD 2024 EV/Revenue 207.99 14% 29.71
FWD 2024 EV/EBITDA 202.74 14% 28.96
LTM EV/EBIT 184.71 14% 26.39
LTM EV/EBITDA 192.71 14% 27.53
P/E 162.84 14% 23.26
100% 194.25

Walmart Inc. Price Calculation

Comps 194.25 50% 97.13
DCF GG 180.99 25% 45.25
DCF MM 198.19 25% 49.55
Final Stock Price: 191.92
17.86%
 52 Week Range

Analyst Consesus

DCF MM

DCF GG

P/E

LTM EV/EBITDA

LTM EV/Revenue

FWD 2024 EV/EBITDA

FWD 2024 EV/Revenue

FWD 2025 EV/EBITDA

FWD 2025 EV/Revenue

75 95 115 135 155 175 195 215

155 175 195 215 235 255 275