Part 1 Worksheet - In a one-page business brief describe the company's performance in terms of liquidity, leverage, and profitability over the past 5 years. (see attached balance sheet and worksheet part 2)

Part 2 Worksheet -In a one-page business brief describe the company's performance in terms of revenue and net income growth and its gross, operating, and net profit margins over the past 5 years. (see attached income statement and worksheet part 1)

Wal-Mart Stores, Inc. (NYS: WMT) Exchange rate used is that of the Year End reported date Standardized Annual Income Statement Report Date Currency Audit Status Consolidated Scale Sales Revenue Other Revenue Total Revenue Direct Costs Gross Profit Selling General & Admin Other Operating Expense Total Indirect Operating Costs Operating Income Interest Income Other Non-Operating Income Total Non-Operating Income Earnings Before Tax Taxation Minority Interests Discontinued Operations Extraordinary Items Accounting Changes Net Income Preference Dividends & Similar Net Income to Common Average Shares Basic EPS Net Basic EPS Continuing Basic Average Shares Diluted EPS Net Diluted EPS Continuing Diluted Shares Outstanding 01/31/2016 USD Not Qualified Yes Thousands 478614000 3516000 482130000 360984000 121146000 97041000 0 97041000 24105000 -2467000 0 -2467000 21638000 6558000 386000 0 0 14694000 0 15080000 3207000 4.58 4.58 3217000 4.57 4.57 3162000 01/31/2015 USD Not Qualified Yes Thousands 482229000 3422000 485651000 365086000 120565000 93418000 0 93418000 27147000 -2348000 0 -2348000 24799000 7985000 736000 285000 0 0 16363000 0 17099000 3230000 5.07 5.01 3243000 5.05 4.99 3228000 01/31/2014 USD Not Qualified Yes Thousands 473076000 3218000 476294000 358069000 118225000 91353000 0 91353000 26872000 -2216000 0 -2216000 24656000 8105000 673000 144000 0 0 16022000 0 16695000 3269000 4.9 4.87 3283000 4.88 4.85 3233000 01/31/2013 USD Not Qualified Yes Thousands 466114000 3048000 469162000 352488000 116674000 88873000 0 88873000 27801000 -2064000 0 -2064000 25737000 7981000 757000 0 0 16999000 0 17756000 3374000 5.04 5.04 3389000 5.02 5.02 3314000 01/31/2012 USD Not Qualified Yes Thousands 443854000 3096000 446950000 335127000 111823000 85265000 0 85265000 26558000 -2160000 0 -2160000 24398000 7944000 688000 -67000 0 0 15699000 0 16387000 3460000 4.54 4.56 3474000 4.52 4.54 3418000 MBA 707-Company Analysis Part 1 Firm: Stock Ticker Symbol: Sector: Industry (SIC): Industry (NAICS): Standardized Annual Income Statement (page numbers refer to How to Read a Financial Report) Most Recent Report Date: Currency: Scale: Total Revenue T=0 Amt. Pct. 100% T=-1 Amt. Pct. 100 % T=-2 Amt. Pct. 100% T= -3 Amt. Pct. 100% T=-4 Amt. Pct. 100% T=-5 Amt. Pct. 100% Gross Profit/Gross Profit Margin (p. 28) Operating Income, aka EBIT1/Operating Margin (p. 30) Interest Income/ (Expense) (p. 29) Earnings before Tax Net Income/Net Profit Ratio (pp. 30-31) 1 MBA 707-Company Analysis Part 1 1 EBIT (Earnings before Interest and Taxes) What is the annual average growth rate in total revenue over the past 5 years? What is the compound annual growth rate in total revenue over the past 5 years? What is the annual average growth rate in net income over the past 5 years? 2 MBA 707-Company Analysis Part 1 What is the compound annual growth rate in net income over the past 5 years? In a one-page business brief describe the company's performance in terms of revenue and net income growth and its gross, operating, and net profit margins over the past 5 years. 3 MBA 707-Company Analysis Part 2 Firm: Stock Ticker Symbol: Standardized Annual Balance Sheet Report Date: Currency: Scale: T=0 Amt. Total Current Assets Total Assets Total Current Liabilities Total Liabilities Total Equity Pct. 100 % T=-1 Amt. Pct. 100 % T=-2 Amt. Pct. T= -3 Amt. Pct. T=-4 Amt. Pct. 100% 100% 100% T=-5 Amt. Pct. 100% 1 MBA 707-Company Analysis Part 2 Basic Financial Analysis (page numbers refer to How to Read a Financial Report) T=0 T=-1 T=-2 Current Ratio (p. 22) Debt-to-Equity Ratio (p. 23) Interest Coverage1 Return on Assets (ROA)2 Return on Equity (ROE) (pp. 37-38) 1 Interest Coverage = Operating Income, aka EBIT/Interest Expense 2 T= -3 T=-4 T=-5 ROA = Net Income/Total Assets In a one-page business brief describe the company's performance in terms of liquidity, leverage, and profitability over the past 5 years. 2 Wal-Mart Stores, Inc. (NYS: WMT) Exchange rate used is that of the Year End reported date Standardized Annual Balance Sheet Report Date Currency Audit Status Consolidated Scale Cash & Equivalents Cash & Equivs & ST Investments Receivables (ST) Inventories Discontinued Ops (ST Asset) Other Current Assets Total Current Assets Gross Property Plant & Equip Accumulated Depreciation Net Property Plant & Equip Intangible Assets Other Assets Total Assets Accounts Payable & Accrued Exps Accounts Payable Accrued Expenses Current Debt Current Lease Obligations Discontinued Ops (ST Liab) Other Current Liabilities Total Current Liabilities LT Debt & Leases Minority Interests Other Liabilities Total Liabilities Common Share Capital Additional Paid-In Capital Retained Earnings Accum Other Comprehensive Income For Curr Trans (BS) Other Equity Total Equity Total Liabilities & Equity 01/31/2016 USD Not Qualified Yes Thousands 8705000 8705000 5624000 44469000 1441000 60239000 176958000 66787000 110171000 16695000 12476000 199581000 58615000 38487000 20128000 5453000 551000 0 64619000 44030000 3065000 7321000 119035000 317000 1805000 90021000 -11597000 -11690000 11690000 80546000 199581000 01/31/2015 USD Not Qualified Yes Thousands 9135000 9135000 6778000 45141000 2224000 63278000 177395000 63115000 114280000 18102000 8046000 203706000 58583000 38410000 20173000 6402000 287000 0 65272000 43692000 4543000 8805000 122312000 323000 2462000 85777000 -7168000 -6355000 6355000 81394000 203706000 01/31/2014 USD Not Qualified Yes Thousands 7281000 7281000 6677000 44858000 460000 1909000 61185000 173089000 57725000 115364000 19510000 8692000 204751000 57174000 37415000 19759000 11773000 309000 89000 0 69345000 44559000 6575000 8017000 128496000 323000 2362000 76566000 -2996000 -2722000 2722000 76255000 204751000 01/31/2013 USD Not Qualified Yes Thousands 7781000 7781000 6768000 43803000 1588000 59940000 165825000 51896000 113929000 20497000 8739000 203105000 59099000 38080000 21019000 12392000 327000 0 71818000 41417000 5914000 7613000 126762000 332000 3620000 72978000 -587000 47000 -47000 76343000 203105000 01/31/2012 USD Not Qualified Yes Thousands 6550000 6550000 5937000 40714000 89000 1685000 54975000 155002000 45399000 109603000 20651000 8177000 193406000 55926000 36608000 19318000 6022000 326000 26000 0 62300000 47079000 4850000 7862000 122091000 342000 3692000 68691000 -1410000 -806000 806000 71315000 193406000