Unsurprising Start to Fiscal 2020 Leaves Our Outlook Intact for Walmart; Shares Slightly Rich
Our $94 per share valuation for wide-moat Walmart stands after it announced unsurprising first-quarter earnings. Solid U.S. performance and e-commerce gains are consistent with our view that Walmart’s competitive advantages should allow it to successfully navigate a turbulent retail landscape. We still expect low single-digit top-line growth against 4% adjusted operating margins over the next decade, on average.Walmart saw 1% total revenue growth against a 4.0% adjusted operating margin in the ...
Walmart is engaged in global operations of retail, wholesale and other units, as well as eCommerce, located throughout the U.S., Africa, Argentina, Canada, Central America, Chile, China, India, Japan, Mexico and the U.K. The company's operations are conducted in three reportable segments: Walmart U.S., which is a mass merchandiser of consumer products, operating under the Walmart and Walmart Neighborhood Market brands, as well as walmart.com, jet.com and other eCommerce brands; Walmart International, which includes various formats divided into retail, wholesale and other categories; and Sam's Club, which is a membership-only warehouse club that also operates samsclub.com.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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