shareholder return is in the form of dividends that shareholders receive, we could examine the annual dividends relative to the current stock price. Over the past year, shareholders received $2.08 per share in dividends. The stock was recently trading for $102.20. Walmart recorded $2.26 in unadjusted earnings per share, but $4.91 in adjusted earnings per share. I estimated Walmart's return on equity or ROE to be 8.9 per cent as of the fiscal year ending January 31, 2019. For 2018, 2017, and 2016, it was 12.7, 17.2, and 18.1 per cent, respectively. Walmart's recent "raw" beta was 0.56. It was based on a regression of two years of weekly data. I noticed that as well. There was also an "adjusted" beta of 0.71. According to Bloomberg, the ad hoc adjustment0.67 times the raw beta plus 0.33always makes the adjusted beta closer to the market's beta of 1.0.

new tax rate is 21 per cent. But a recent press release to accompany Walmart's quarterly returns says the company is anticipating an effective tax rate of around 27 per cent.

What's walmart cost of equity

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