Stock Analysis on Net
Stock Analysis on Net

Walgreens Boots Alliance Inc. (NASDAQ:WBA)

This company has been moved to the archive! The financial data has not been updated since July 9, 2020.

Analysis of Revenues

Microsoft Excel

Revenues as Reported

Walgreens Boots Alliance Inc., income statement, revenues

US$ in millions

Microsoft Excel
12 months ended: Aug 31, 2019 Aug 31, 2018 Aug 31, 2017 Aug 31, 2016 Aug 31, 2015 Aug 31, 2014
Pharmacy 77,192 71,055 60,607 — — —
Retail 27,340 27,337 26,695 — — —
Retail Pharmacy USA 104,532 98,392 87,302 — — —
Pharmacy 4,080 4,360 4,180 — — —
Retail 7,382 7,921 7,633 — — —
Retail Pharmacy International 11,462 12,281 11,813 — — —
Pharmaceutical Wholesale 23,053 23,006 21,188 — — —
Eliminations (2,181) (2,142) (2,089) — — —
Sales 136,866 131,537 118,214 — — —

Based on: 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-31), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-08-31), 10-K (reporting date: 2015-08-31), 10-K (reporting date: 2014-08-31).


Total sales exhibited a consistent upward trajectory between 2017 and 2019, increasing from 118,214 million USD to 136,866 million USD. This growth was primarily underpinned by strong performance within the domestic market, which offset stagnation and declines observed in international operations.

Retail Pharmacy USA
The US segment demonstrated significant expansion, with total revenues rising from 87,302 million USD in 2017 to 104,532 million USD in 2019. This growth was driven predominantly by pharmacy sales, which increased from 60,607 million USD to 77,192 million USD. Conversely, retail sales remained largely stagnant, showing minimal movement from 26,695 million USD in 2017 to 27,340 million USD in 2019.
Retail Pharmacy International
International revenues showed volatility, peaking in 2018 at 12,281 million USD before declining to 11,462 million USD in 2019. Both pharmacy and retail components of this segment experienced contractions in the final year, with retail falling to 7,382 million USD and pharmacy decreasing to 4,080 million USD.
Pharmaceutical Wholesale
The wholesale division maintained a steady growth pattern, increasing from 21,188 million USD in 2017 to 23,053 million USD in 2019. A more pronounced increase occurred between 2017 and 2018, followed by relative stagnation in 2019.
Consolidated Revenue Impact
Total sales growth reflects the aggregation of these business segments net of intersegment eliminations, which grew slightly from -2,089 million USD to -2,181 million USD. The overall revenue expansion is heavily concentrated in the US pharmacy business, which constitutes the largest portion of the total revenue stream.

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