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Financial Analysis: Wal-Mart In This Research Paper

Indeed, the retailer's current ratio has not exceeded 1.0 in recent times. It is however important to note that given its profitability, it is likely that Wal-Mart converts its inventory into cash at a rate that is much faster than that of its peers in the same industry. For this reason, it is highly unlikely that in the normal course of doing business, the retailer could encounter challenges paying back vendors in the near future. Stock Price Analysis

In my opinion, Wal-Mart's stock is likely to continue performing relatively well into the future. This is particularly the case given that the company's ROE (in relation to that of its peers) has largely been impressive in the past. Active investors are likely to be drawn to this stock given its impressive performance. To further improve the performance of the stock, the management should embrace an extensive growth and expansion strategy that seeks to capture emerging markets including but not limited to China, India, Brazil, and parts of Africa. In addition to ensuring that the retailer does not rely on only a few markets, such a move would have the effect of increasing the company's bottom-line

Conclusion

Based on the analysis I have conducted above, I am of the opinion that Wal-Mart would be a good company to invest in. In addition to having a stable gross profit margin, the company has also managed to maintain a relatively high and stable return on equity. It is also important to note that Wal-Mart continues to utilize a winning competitive strategy to remain relevant and profitable in a relatively competitive industry. For this reason, Wal-Mart has a unique chance to further consolidate its market share as it seeks to exploit emerging markets.

References

Albrecht, W.S., Stice, E.K. & Stice, J.D. (2010). Financial Accounting: Concepts and Applications (11th ed.). Mason, OH: Cengage Learning.

Daniel, F. (2012, December 11). Head of Wal-Mart Tells WFU Audience of Plans for Growth Over Next 20 Years. Winston-Salem Journal. Retrieved from: http://www.journalnow.com/business/article_5ad539d5-d616-55ba-ab27-aeaf45b06074.html

Griffin, R.W. (2012). Management (11th ed.). Mason, OH: Cengage Learning.

Stickney, C.P., Weil, R.L., Schipper, K. & Francis, J. (2009). Financial Accounting: An Introduction to Concepts, Methods and Uses (13th ed.). Mason, OH: Cengage Learning.

Wal-Mart. (2013). Wal-Mart. Retrieved March 12,...

(2010). Wal-Mart Pops onto Scene, Makes its Mark: Beverage Pricing Points to Retailer's Influence on Rivals, Suppliers. Chicago Tribune. Retrieved from: http://articles.chicagotribune.com/2010-07-04/business/ct-biz-0704-soda-wars-20100703_1_chicago-wal-mart-costco-and-wal-mart-pricing
Appendix

Financial Statements Used

Wal-Mart 2012 Annual Report:

http://www.walmartstores.com/sites/annual-report/2012/WalMart_AR.pdf

Wal-Mart 2011 Annual Report: http://www.walmartstores.com/sites/annualreport/2011/financials/Walmart_2011_Annual_Report.pdf

Wal-Mart 2010 Annual Report: http://cdn.walmartstores.com/sites/AnnualReport/2010/PDF/WMT_2010AR_FINAL.pdf

Table 1: Wal-Mart Financial Ratios

Ratio

Formula

2012

2011

2010

Current Ratio

Current Assets/Current Liabilities

0.88

0.89

0.86

Debt Ratio

Total Debt/Total Assets

0.63

0.62

0.59

Debt-to-Equity Ratio

Total Debt / Total Equity

1.71

1.63

1.41

Gross Profit Margin

Sales -- Cost of Goods Sold/Sales

0.25

0.25

0.25

Return on Assets

Net Income/Total Assets

0.08

0.09

0.08

Return on Equity

Net Income/Shareholder Equity

0.22

0.24

0.20

Table 2: Target Corporation Financial Ratios

Ratio

Formula

2012

2011

2010

Current Ratio

Current Assets/Current Liabilities

1.15

1.71

1.63

Debt Ratio

Total Debt/Total Assets

0.66

0.65

0.66

Debt-to-Equity Ratio

Total Debt / Total Equity

1.95

1.82

1.90

Gross Profit Margin

Sales -- Cost of Goods Sold/Sales

0.31

0.32

0.33

Return on Assets

Net Income/Total Assets

0.06

0.07

0.06

Return on Equity

Net Income/Shareholder Equity

Sources used in this document:
References

Albrecht, W.S., Stice, E.K. & Stice, J.D. (2010). Financial Accounting: Concepts and Applications (11th ed.). Mason, OH: Cengage Learning.

Daniel, F. (2012, December 11). Head of Wal-Mart Tells WFU Audience of Plans for Growth Over Next 20 Years. Winston-Salem Journal. Retrieved from: http://www.journalnow.com/business/article_5ad539d5-d616-55ba-ab27-aeaf45b06074.html

Griffin, R.W. (2012). Management (11th ed.). Mason, OH: Cengage Learning.

Stickney, C.P., Weil, R.L., Schipper, K. & Francis, J. (2009). Financial Accounting: An Introduction to Concepts, Methods and Uses (13th ed.). Mason, OH: Cengage Learning.
Wal-Mart. (2013). Wal-Mart. Retrieved March 12, 2013, from: http://www.walmart.com/
Wernau, J. (2010). Wal-Mart Pops onto Scene, Makes its Mark: Beverage Pricing Points to Retailer's Influence on Rivals, Suppliers. Chicago Tribune. Retrieved from: http://articles.chicagotribune.com/2010-07-04/business/ct-biz-0704-soda-wars-20100703_1_chicago-wal-mart-costco-and-wal-mart-pricing
http://www.walmartstores.com/sites/annual-report/2012/WalMart_AR.pdf
Wal-Mart 2011 Annual Report: http://www.walmartstores.com/sites/annualreport/2011/financials/Walmart_2011_Annual_Report.pdf
Wal-Mart 2010 Annual Report: http://cdn.walmartstores.com/sites/AnnualReport/2010/PDF/WMT_2010AR_FINAL.pdf
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