The above graph represents Walmart net income by year, starting from fiscal 1970 to the recently completed year. In fiscal 2020, ended January 31, 2020, the consolidated net income attributable to Walmart Inc. increased a whopping 123.1% YoY, clocking $14,881 million. Nearly 28% of that company generated during the fourth quarter.
Growth in Walmart Annual Net Income: History
|Source||Walmart Annual Reports, SEC Filings|
|Note||Walmart financial year: From Feb 1st to January 31st|
In fiscal 2019, Walmart consolidated net income declined a notable 32% YoY, to just $6,670 million. The huge decline was due to the loss of $861 million the company reported in its second quarter of fiscal 2019. Surprisingly, it was the very first time when Walmart ever reported the net loss in a quarter in the last 28 years. On this, the company clarified that due to the acquisition of the majority stake of Flipkart in August 2018, the ongoing operations negatively impacted fiscal 2019 net income.
In fiscal year 2013, Walmart’s global net income reached an all-time high of $16,999 million ($17 billion), with a YoY growth of 8.3%.
About Walmart Inc.
Walmart Inc. (NYSE: WMT) (formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation, headquartered in Bentonville, Arkansas. The company was founded in 1962, by Sam M. Walton and opened the first Walmart Discount City store in Rogers, Arkansas. Within just five years, it expanded to 24 stores in the city.
On October 31, 1969, the company was officially incorporated as Wal-Mart Stores, Inc. and within a year, on October 1, 1970, it became a publicly-traded company. The first stock was sold at $16.50 per share.
In 1983, Walmart opened its first Sam’s Club, while in 1988, the company opened its first Supercenter and first Walmart Neighborhood Market.
It was the year 1997 when Walmart celebrated its first $100 billion annual sales.
In 2000, Walmart launched its first e-commerce website – walmart.com. Since then, the company’s e-commerce presence has been growing phenomenally. In August 2018, Walmart acquired Flipkart for $16 billion – the largest acquisition Walmart made in the last 10 years.
Walmart remains the No. 1 company on 2019 Fortune 500 list for the seven years in a row.
On February 1, 2018, the legal name of the company became Walmart Inc., changing from Wal-Mart Stores, Inc.
As of the end of fiscal 2019, Walmart Inc. and its subsidiaries combined employed more than 2.2 million employees (“associates”), globally. Out of that, about 1.5 million associates are from the U.S. and rest nearly 0.7 million associates internationally.
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