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2017

Financial
Fact Book

Wal-Mart Stores, Inc.


Fact Book – Fiscal 2017 NYSE: WMT
April 20, 2017 NYSE: WMT
Contents
Page Contents
Wal-Mart Stores, Inc. (WMT: NYSE) helps people Home Office 1 Description
Wal-Mart and Contacts
Stores, Inc.
around the world save money and live better - Wal-Mart Stores, Inc. 2 Strategy
anytime and anywhere - in retail stores, online, 702 SW 8th Street 3 Becoming a More Digital Enterprise
Bentonville, AR 72716
and through their mobile devices. Each week, Tel: 479-273-4000 4-6 Financial Overview
more than 260 million customers and members Fax: 479-277-1830 7 Stock Performance & Returns
visit our 11,695 stores under 59 banners in 28 http://corporate.walmart.com/
8-9 Consolidated Statements of Income
countries and e-commerce websites in 11 10 Consolidated Balance Sheets
countries. With fiscal year 2017 revenue of $485.9 Walmart U.S. Home Office 11 Consolidated Statements of Cash Flow
billion, Walmart employs approximately 2.3 million Walmart U.S. 12 Global Responsibility Report
associates worldwide. Walmart continues to be a 702 SW 8th Street
leader in sustainability, corporate philanthropy and Bentonville, AR 72716
employment opportunity. Additional information
about Walmart can be found by visiting Sam’s Club Home Office Walmart Global eCommerce Retail Sites
http://corporate.walmart.com, on Facebook Sam’s Club
at http://facebook.com/walmart and on Twitter 2101 S.E. Simple Savings Dr. www.walmart.com
www.jet.com www.samsclub.cn
at http://twitter.com/walmart.* Bentonville, AR 72716
www.seiyu.cn
www.hayneedle.com
www.shoebuy.com www.walmart.com.br/
Walmart International Home Office www.modcloth.com electrohogar.lider.cl
Investor Relations Contact www.walmart.com.ar
Steve Schmitt Walmart International Support Center www.samsclub.com
www.walmart.ca/en www.makro.co.za
702 SW 8th Street
Vice President, Investor Relations Bentonville, AR 72716 www.walmart.com.mx/inicio www.dionwired.co.za
479-258-7172 www.wams.com.mx www.bestpricewholesale.co.in
www.superama.com.mx
Walmart eCommerce Home Office www.asda.com/
Media Contact Walmart eCommerce www.wal-martchina.com
850 Cherry Avenue
Randy Hargrove San Bruno, CA 94066
Sr. Director - National Media Relations
1-800-331-0085

* As of January 31, 2017


The amounts shown in this Fact Book are based on the most recently publically disclosed documents for fiscal 2017. 1
Strategy

Strategic Objectives Financial Framework

1 Make Every Day Easier for Busy Families Strong, Efficient Operating Strategic Capital
Growth Discipline Allocation

2 Change How We Work

3 Deliver Results and Operate with Discipline


Framework for
Sustainable
Earnings Growth &
4 Be the Most Trusted Retailer Returns

2
Becoming a More Digital Enterprise

We are excited by our progress in digital and omni-channel but know there is more work to do.
In all the ways you choose to shop – in stores, mobile, or through pickup and delivery– it will be seamless

~$15B in Global
E-commerce sales*
Making every day
easier for busy 35M+ SKUs online
families assortment in US**

Sam’s Club
***

We will continue to enhance our e-commerce capabilities through internal innovation and
opportunistic alliances and acquisitions
* FY17
** as of Jan 31, 2017
*** through an alliance between Walmart and JD.com 3
Financial Overview Net Sales by Segment - FY17

12%

24%
64%

Walmart U.S. Walmart International Sam's Club

Walmart U.S. Merchandise Category - % of Net Sales Sam's Club Merchandise Category - % of Net Sales

100% 5% 5%
6%
6% 7% 7%
33% 33% 33% 9% 9% 8%
80%

20% 20% 23%


60% 11% 11% 11%

40%

56% 56% 56% 59% 59% 57%


20%

0%
FY17 FY16 FY15 FY17 FY16 FY15
Grocery and consumables Fuel and other categories
Grocery* Health and wellness General Merchandise
Home and apparel Technology, office and entertainment
Health and wellness
* Walmart U.S. grocery consists of a full line of grocery items, including meat, produce, natural & organics,
deli & bakery, dairy, frozen foods, alcoholic and nonalcoholic beverages, floral and dry grocery, as well as
consumables such as health and beauty aids, baby products, household chemicals, paper goods and pet
supplies 4
Financial Overview
U.S. Quarterly Comparable Store Sales Results without fuel (4-5-4 Retail Calendar)
Fiscal Years Ended January 31
FY17 FY16 FY15
Comp-Store Sales Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
Walmart U.S. 1.8% 1.2% 1.6% 1.0% 0.6% 1.5% 1.5% 1.1% 1.5% 0.5% 0.0% -0.1%
Neighborhood Market 5.3% 5.2% 6.5% 7.1% 7.0% 8.0% 7.3% 7.9% 7.7% 5.5% 5.6% 5.0%
Sam's Club 2.4% 1.4% 0.6% 0.1% -0.5% 0.4% 1.3% 0.4% 2.0% 0.4% 0.0% -0.5%
e-Commerce Impact* Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
Walmart U.S. 0.4% 0.5% 0.4% 0.2% 0.3% 0.2% 0.2% 0.2% 0.3% 0.2% 0.3% 0.3%
Sam's Club** 0.8% 0.6% 0.6% 0.6% 0.8% 0.6% 0.6% 0.4% 0.4% 0.2% 0.3% 0.2%

Quarterly Traffic/Ticket Trends (4-5-4 Retail Calendar)


Fiscal Years Ended January 31
FY17 FY16 FY15
Walmart U.S. Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
Traffic 1.4% 0.7% 1.2% 1.5% 0.7% 1.7% 1.3% 1.0% 1.4% -0.7% -1.1% -1.4%
Ticket 0.4% 0.5% 0.4% -0.5% -0.1% -0.2% 0.2% 0.1% 0.1% 1.2% 1.1% 1.3%

FY17 FY16 FY15


Sam's Club Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
Traffic 1.2% -0.5% -0.4% -0.2% -1.4% -0.3% 0.5% -0.2% 1.5% 0.2% 0.3% -0.2%
Ticket 1.2% 1.9% 1.0% 0.3% 0.9% 0.7% 0.8% 0.6% 0.5% 0.2% -0.3% -0.3%

FY2017 International Comparable Store Sales & Traffic/Ticket Trends (4-5-4 Retail Calendar)
Fiscal Years Ended January 31
FY17 Comps FY17 Traffic FY17 Ticket
WMT International*** Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1
UK -2.9% -5.8% -7.5% -5.7% -1.8% -4.2% -6.0% -5.0% -1.1% -1.6% -1.5% -0.7%
Walmex 7.3% 7.0% 7.3% 8.6% 1.3% 0.8% 0.7% 2.1% 6.0% 6.2% 6.6% 6.5%
Canada 0.2% 1.1% 1.1% 6.7% -1.1% 0.2% 0.5% 4.6% 1.3% 0.9% 0.6% 2.1%
Brazil 0.8% 8.1% 4.7% 4.5% -2.4% 0.5% -3.5% -3.7% 3.2% 7.6% 8.2% 8.2%
China 2.3% 1.6% -0.5% 1.4% -2.9% -2.7% -5.5% -3.8% 5.2% 4.3% 5.0% 5.2%

* The company’s e-commerce sales impact includes those sales initiated through the company’s websites and fulfilled through the company’s dedicated e-commerce distribution facilities, as well as an
estimate for sales initiated online, but fulfilled through the company’s stores and clubs.
** All Sam’s Club referenced metrics are w/o fuel
***Top 5 International markets by size. Results are on a constant currency basis.
Source: Quarterly earnings presentations and releases 5
Financial Overview
FY17 Uses of Cash Free Cash Flow*
(in billions of dollars)
Acquisitions e.g., Jet acquisition and JD alliance
& Alliances 25

Share By end of FY17, $9.2B remaining on 20


Repurchase current $20B authorization
15
Dividends Increased for 44th consecutive year
in FY18 10 20.9
15.9 16.4
5
Core Capex e.g., New stores , remodels, e-
commerce and customer initiatives
0
FY17 FY16 FY15

Capital Expenditure Detail


Total Return to Shareholders
(in billions of dollars)
20 (in billions of dollars)

16.0 18
14.5
16
14.0 12.2
11.5
14
12.0 10.6
1.2 10.4
1.1 12
0.8
10.0 1.2 0.7 8.3
0.6 10
3.9 7.2
8.0 2.9 4.1
2.7 8
6.0 1.0
6
4.0 4
6.1 6.7 6.3 6.2 6.3 6.2
2.0 2

0.0 0
FY17 FY16 FY15 FY17 FY16 FY15
Dividend Share Repurchases
Walmart U.S. Walmart International Sam's Club Corporate & Support
* Free cash flow is a non-GAAP measure. Net cash provided by operating activities of continuing operations is the closest GAAP measure to free cash flow. Reconciliations and other information regarding free
cash flow and its closest GAAP measure can be found in the Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our Form 10-K’s for the fiscal years ended
January 31, 2015, 2016, and 2017 on our website at www.stock.walmart.com. 6
WAL-MART STORES, INC.
Other Financials
FY18 FY17 FY16 FY15 FY14 FY13 FY12 FY11 FY10 FY09 FY08 FY07
Stock Price
High N/A $75.19 $88.00 $90.97 $81.37 $77.60 $62.00 $57.90 $55.20 $63.85 $51.44 $52.15
Low N/A $62.35 $56.30 $72.27 $68.13 $57.18 $48.31 $47.77 $46.25 $46.92 $42.09 $42.31
Dividend
Declared $2.04 $2.00 $1.96 $1.92 $1.88 $1.59 $1.46 $1.21 $1.09 $0.95 $0.88 $0.67
Yield* N/A 3.00% 2.95% 2.26% 2.52% 2.27% 2.38% 2.16% 2.04% 2.02% 1.73% 1.40%
Price to Earnings** N/A 15.2 14.5 17.0 15.4 14.0 13.5 12.8 14.3 14.1 16.1 16.3
Return on Equity*** N/A 17.4% 17.8% 20.1% 20.3% 21.7% 20.8% 21.7% 20.8% 20.5% 20.5% 21.3%
Total Shareholder Return N/A 3.5% -19.8% 16.6% 9.4% 16.8% 12.5% 7.4% 15.9% -5.5% 8.4% 5.0%

WMT Dividend WMT Total Return to Shareholders


$2.50
$2.04 20%

15%
$2.00
10%
3.5%
$1.50 5%

0%
$1.00 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17
-5%

-10%
$0.50
-15%

$0.00 -20%
FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18
-25%

* Calculated by dividing the declared dividend by the close price at the end of the fiscal year
** As of close of the last trading day of fiscal 2017
*** Return on equity is defined as income from continuing operations divided by average total equity 7
Wal-Mart Stores, Inc.
Consolidated Statements of Income

Includes excerpts from audited financial statements. See full 10-K at www.stock.walmart.com.
8
Wal-Mart Stores, Inc.
Quarterly Consolidated Financial Data

(1) The sum of quarterly income per common share attributable to Walmart data may not agree to annual amounts due to rounding.
Includes excerpts from audited financial statements. See full 10-K at www.stock.walmart.com.

9
Wal-Mart Stores, Inc.
Consolidated Balance Sheets

Includes excerpts from audited financial statements.


See full 10-K at www.stock.walmart.com. 10
Wal-Mart Stores, Inc.
Consolidated Statements of Cash Flows

Includes excerpts from audited financial


statements. See full 10-K at
www.stock.walmart.com. 11
Global Responsibility Report Highlights*
Opportunity Sustainability Community

Increase economic opportunity Enhance sustainability of Strengthen local communities


operations and value chains
Highlights Highlights Highlights
• Completed $2.7B investment in training, • Supplied by approximately 26% • Communities supported after 30 disaster
education, and higher wages in US renewable energy globally events
• Promoting culture of investing in jobs • 96% suppliers reduction of high • Engaging in our communities with 1.2M
and inclusion at all levels of the company priority chemicals by weight in Walmart associate volunteer hours in 2016
• By 2020 Walmart commits to hire 250,000 US stores since 2014 • We provided support for 2.4B meals
veterans since May 2013 • Supporting measurement and provided to people in need since 2014**
transparency in our supply chain with • More than $500,000 provided in grants to
$200B worth of goods sold evaluated support community cohesion in 2016
for sustainability performance

* as of 1/31/2017
Includes excerpts from the Global Responsibility Report. See full GRR at ** Based on 1.2 B pounds donated from Walmart facilities and
www.stock.walmart.com. nearly $100M in funds from Walmart/Walmart Foundation 12