Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Wal-Mart Stores Inc., EBITDA calculation

USD $ in millions

 
12 months ended Jan 31, 2014 Jan 31, 2013 Jan 31, 2012 Jan 31, 2011 Jan 31, 2010 Jan 31, 2009
Consolidated net income attributable to Walmart 16,022  16,999  15,699  16,389  14,335  13,400 
Consolidated net income attributable to noncontrolling interest 673  757  688  604  513  499 
Interest expense, debt and capital leases 2,335  2,251  2,322  2,205  2,065  2,184 
Income tax expense (benefit) 8,105  7,981  7,944  7,579  7,139  7,145 
Earnings before interest and tax (EBIT) 27,135  27,988  26,653  26,777  24,052  23,228 
Depreciation and amortization 8,870  8,501  8,130  7,641  7,157  6,739 
Earnings before interest, tax, depreciation and amortization (EBITDA) 36,005  36,489  34,783  34,418  31,209  29,967 
Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Wal-Mart Stores Inc.'s EBITDA increased from 2012 to 2013 but then slightly declined from 2013 to 2014.

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EV to EBITDA Ratio, Current

Wal-Mart Stores Inc., current EV/EBITDA

 
Wal-Mart Stores Inc. Consumer Services
Selected Financial Data (USD $ in millions)
Enterprise value (EV) 298,503 
Earnings before interest, tax, depreciation and amortization (EBITDA) 36,005 
Ratio
EV/EBITDA 8.29 10.14

If company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.

Otherwise, if company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

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EV to EBITDA Ratio, Historical

Wal-Mart Stores Inc., EV/EBITDA calculation

 
Jan 31, 2014 Jan 31, 2013 Jan 31, 2012 Jan 31, 2011 Jan 31, 2010 Jan 31, 2009
Selected Financial Data (USD $ in millions)
Enterprise value (EV)1 300,184  297,926  259,306  227,973  245,759  243,534 
Earnings before interest, tax, depreciation and amortization (EBITDA)2 36,005  36,489  34,783  34,418  31,209  29,967 
EV/EBITDA, Comparison to Industry
Wal-Mart Stores Inc.3 8.34 8.16 7.45 6.62 7.87 8.13
Industry, Consumer Services 9.85 8.43 7.42 8.34 8.17

2014 Calculations

3 EV/EBITDA = EV ÷ EBITDA
= 300,184 ÷ 36,005 = 8.34

Ratio Description The company
EV/EBITDA EV/EBITDA is a valuation indicator for the overall company rather than common stock. Wal-Mart Stores Inc.'s EV/EBITDA ratio increased from 2012 to 2013 and from 2013 to 2014.

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