The above graph represents Walmart global revenue vs net income by year, starting from fiscal 1970 to the recently completed year. In FY 2020, the retail giant reported its highest-ever annual revenue of $523,964 million, with a net profit of $14,881 million. That represented 1.86% YoY and 123.1% YoY growth in its revenue and net income during the fourth quarter, respectively.
Walmart Annual Revenue and Net Income: History
|Source||Walmart Annual Reports, SEC Filings|
|Note||Walmart financial year: From Feb 1st to January 31st|
Walmart annual revenue crossed $1000 million or $1 billion mark for the first time in FY 1980. The company’s total revenue clocked $1,258 million, with an impressive 38.3% YoY growth. During the year, the total net income increased 39.8% YoY to $41.15 million.
The company took 13 years to achieve another big revenue milestone; in FY 1993, Walmart’s global revenue surpassed $50,000 million or $50 billion ($55,985 million to be specific), with a whopping $1,995 million in net income.
Walmart achieved over $100 billion revenue milestone in FY 1997.
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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