Stock Analysis on Net

Walmart Inc. (NYSE:WMT)

Market Value Added (MVA)

Microsoft Excel

Market value added (MVA) is the difference between a firm fair value and its invested capital. MVA is a measure of the value a company has created in excess of the resources already committed to the enterprise.


MVA

Walmart Inc., MVA calculation

US$ in millions

Microsoft Excel
Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019
Fair value of debt and finance lease obligations1 45,743 43,951 47,545 58,802 63,162 62,207
Operating lease liability 14,430 14,301 14,492 14,375 17,964 8,533
Market value of common equity 488,962 375,801 400,219 371,093 322,795 278,761
Redeemable noncontrolling interest 222 237
Noncontrolling interest 6,488 7,061 8,638 6,606 6,883 7,138
Market (fair) value of Walmart 555,845 441,351 470,894 450,876 410,804 356,639
Less: Invested capital2 155,389 149,558 156,225 164,411 167,329 158,768
MVA 400,456 291,793 314,669 286,465 243,475 197,871

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA Walmart Inc. market (fair) value less invested capital. Walmart Inc. MVA decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

MVA Spread Ratio

Walmart Inc., MVA spread ratio calculation, comparison to benchmarks

Microsoft Excel
Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019
Selected Financial Data (US$ in millions)
Market value added (MVA)1 400,456 291,793 314,669 286,465 243,475 197,871
Invested capital2 155,389 149,558 156,225 164,411 167,329 158,768
Performance Ratio
MVA spread ratio3 257.71% 195.10% 201.42% 174.24% 145.51% 124.63%
Benchmarks
MVA Spread Ratio, Competitors4
Costco Wholesale Corp. 641.08% 601.38% 635.70% 488.89% 481.92%
Dollar General Corp. 94.11% 153.08% 211.96% 182.79% 150.73% 129.61%
Target Corp. 179.94% 210.89% 289.75% 247.97% 151.69% 106.62%

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

1 MVA. See details »

2 Invested capital. See details »

3 2024 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 400,456 ÷ 155,389 = 257.71%

4 Click competitor name to see calculations.

Performance ratio Description The company
MVA spread ratio The ratio of MVA to invested capital. It measures the efficiency with which investors’ capital investment has translated into a franchise value and into an aggregate net present value premium. Walmart Inc. MVA spread ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

MVA Margin

Walmart Inc., MVA margin calculation, comparison to benchmarks

Microsoft Excel
Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019
Selected Financial Data (US$ in millions)
Market value added (MVA)1 400,456 291,793 314,669 286,465 243,475 197,871
Net sales 642,637 605,881 567,762 555,233 519,926 510,329
Performance Ratio
MVA margin2 62.31% 48.16% 55.42% 51.59% 46.83% 38.77%
Benchmarks
MVA Margin, Competitors3
Costco Wholesale Corp. 94.13% 85.51% 94.36% 86.99% 77.31%
Dollar General Corp. 63.99% 100.17% 133.17% 113.19% 103.87% 91.58%
Target Corp. 58.35% 59.25% 83.51% 81.84% 53.60% 37.31%

Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).

1 MVA. See details »

2 2024 Calculation
MVA margin = 100 × MVA ÷ Net sales
= 100 × 400,456 ÷ 642,637 = 62.31%

3 Click competitor name to see calculations.

Performance ratio Description The company
MVA margin The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value. Walmart Inc. MVA margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.