Zoom in in a new tab if the images are showing the image too small on ur computer. I WILL UPVOTE!!!!!!! YOU DON'T NEED THESE PAGES TO ANSWER THE QUESTION I POSTED ALL THAT U NEED AND WROTE THE FORMULAS MYSELF

1) Compute the financial performance of each company based on the various metrics discussed in Section 3.1 of the textbook, such as ROE, ROA, profit margin, asset turns, APT, C2C, ART, INVT, and PPET (see table 3-2).

Calculate all formulas especially the ones at the bottom for both Macy and Walmart using the financial sheets I give as info. Use the 2021 column don't mix it up with the TTM column. This is for my Supply Chain Mgmt class.

USE THESE FORMULAS FOR THE ONE'S I LEFT BLANK!

	Walmart	Macy's
ROE = Net Income/Share holders Equity	13,510,000/80,925,000 = 16.69%	-3,944,000/2,553,000 = -154%
ROA = Net Income/Total Assets	13,510,000/252,496,000 = 5.35%	-3,944,000/17,706,000 = -22.27%
Profit margin = Net Income/Revenue*100	13,510,000/559,151,000*100 = 2.416	-3,944,000/18,097,000*100
Asset turnover = Revenue/Total Assets	559,151,000/252,496,000	18,097,000/17,706,000
APT = Cost of Goods Sold/Accounts Payable	420,315,000/49,141,000	12,286,000/2,659,000
ART = Revenue/Net Receivable	559,151,000/6,516,000	18,097,000/276,000
NVT	8.05	3.12
PPET	4.02	4.47
C2C (weeks)	-1.51	1.82

yahoo! Search for news, symbols or companies Finance Home News Video Watchlists My Portfolio Real Estate My Screeners Tech Macy's, Inc. (M) Add to watchlist NYSE - NYSE Delayed Price. Currency in USD 22.30 -0.59 (-2.58%) 22.35 +0.05 (+0.22%) At close: 4:00PM EDT After hours: 07:58PM EDT Summary Chart Conversations Statistics Historical Data Profile Financial Analysis C Show: Income Statement Balance Sheet Cash Flow 2019-01-31 Balance Sheet All numbers in thousands Breakdown 2021-01-31 > Assets 17,706,000 Liabilities and stockholders' eq... v Liabilities 2020-01-31 21,172,000 2018-01-31 19,381,000 19,194,000 Current Liabilities Current Debt 452,000 533,000 36,000 22,000 2,856,000 2,659,000 2,638,000 2,325,000 0 81,000 168,000 296,000 485,000 590,000 614,000 662,000 Accounts Payable Taxes payable Accrued liabilities Deferred revenues Total Current Liabilities Non-current liabilities Long Term Debt 616,000 839,000 880,000 1,032,000 5,357,000 5,750,000 5,232,000 5,075,000 4,407,000 3,621,000 4,683,000 5,835,000 908,000 1,169,000 1,238,000 1,122,000 1,296,000 1,337,000 1,580,000 Deferred taxes liabilities Other long-term liabilities Total non-current liabilitles Total Liabilities 1,662,000 8,645,000 9,045,000 7,526,000 9,796,000 15,153,000 12,758,000 13,720,000 14,795,000 6,377,000 > Stockholders' Equity 2,553,000 6,436,000 5,673,000 Total llabilities and stockholde... 17,706,000 21,172,000 19,194,000 19,381,000 Mods TTM 2021-01 31 2020-01-31 2019-01-31 2018-01-31 516,000 -3,944,000 564,000 1,108,000 1,547,000 931,000 959,000 981,000 962,000 991,000 -98,000 -327,000 -6,000 40,000 31,000 38,000 63,000 58,000 -84,000 262,000 -254,000 -208,000 -343,000 -717,000 1,406,000 75,000 -87,000 Cash Flow All numbers in thousands Breakdown Cash flows from operating activ... Net Income Depreciation & amortization Deferred income taxes Stock based compensation Change in working capital Inventory Accounts Payable Other working capital Other non-cash items Net cash provided by operatin... Cash flows from investing activi... Investments in property, plant a... Acquisitions, net Other investing activites Net cash used for Investing act... Cash flows from financing activi... 221,000 -17,000 840,000 -522,000 -217,000 99,000 1,214,000 183,000 451,000 803,000 1,184,000 3,607,000 3,597,000 358,000 121,000 141,000 1,621,000 649,000 1,608,000 1,735,000 1,944,000 -407,000 -466,000 -1,157,000 -932,000 -760,000 0 94,000 28,000 -30,000 2,000 -24,000 -197,000 -325,000 -1,002,000 -456,000 -373,000 Free Cash Flow -611,000 699,000 -1,123,000 -1,544,000 -1,413,000 813,000 1,023,000 -517,000 -265,000 158,000 1,297,000 1,402,000 731,000 1,248,000 1,513,000 2,215,000 1,754,000 731,000 1,248,000 1,455,000 1,214,000 183,000 451,000 803,000 1,184,000 Macy's, Inc. (M) NYSE - NYSE Delayed Price. Currency in USD Add to watchlist 22.30 -0.59 (-2.58%) 22.35 +0.05 (+0.22%) At close: 4:00PM EDT After hours: 07:58PM EDT Summary Chart Conversations Statistics Historical Data Profile Financials Analysis Options Holders Show: Income Statement Balance Sheet Cash Flow Annual All numbers in thousands 2021-01-31 2019-01-31 TTM 21,931,000 2020-01-31 25,331,000 2018-01-31 24,837,000 18,097,000 25,739,000 Income Statement Breakdown Total Revenue Cost of Revenue Gross Profit > Operating Expenses Operating Income or Loss 13,309,000 12,286,000 15,171,000 15,215,000 15,152,000 8,622,000 5,811,000 10,160,000 10,524,000 9,685,000 7,418,000 6,767,000 8,998,000 9,039,000 8,131,000 1,204,000 -956,000 1,162,000 1,485,000 1,554,000 Interest Expense 304,000 265,000 204,000 261,000 323,000 -194,000 -3,549,000 -249,000 171,000 263,000 686,000 -4,790,000 728,000 1,420,000 1,507,000 Total Other Income/Expenses Net Income Before Tax Income Tax Expense Income from Continuing Operations Net Income 170,000 -846,000 164,000 322,000 -29,000 516,000 -3,944,000 564,000 1,098,000 1,536,000 1,547,000 516,000 -3,944,000 564,000 1,108,000 Net Income available to common s... 516,000 -3,944,000 564,000 1,108,000 1,547,000 -12.68 1.82 3.60 5.07 Basic EPS Diluted EPS -12.68 1.81 3.56 5.04 - 311,100 309,700 307,700 305,400 Basic Average Shares Diluted Average Shares 311,100 311,400 311,400 306,800 EBITDA -3,566,000 1,913,000 2,643,000 2,821,000 Walmart Inc. (WMT) Add to watchlist NYSE - Nasdaq Real Time Price Currency in USD 136.62 +0.89 (+0.66%) 136.62 0.00 (0.00%) At close: 4:00PM EDT After hours: 07:59PM EDT Summary Chart Conversations Statistics Historical Data Profile Financial Analysis 2019-01-31 2018-01-31 219,295,000 204,522,000 Show: Income Statement Balance Sheet Cash Flow Balance Sheet All numbers in thousands Breakdown 2021-01-31 2020-01-31 > Assets 252,496,000 236,495,000 v Liabilities and stockholders' eq... Liabilities Current Liabilities Current Debt 3,339,000 5,937,000 Accounts Payable 49,141,000 46,973,000 Taxes payable 242,000 280,000 Accrued liabilities 14,896,000 12,798,000 Deferred revenues 2,310,000 1,990,000 Other Current Liabilities 12,734,000 Total Current Liabilities 92,645,000 77,790,000 Non-current liabilities 7,101,000 8,995,000 47,060,000 46,092,000 428,000 645,000 13,269,000 13,295,000 2,017,000 1,932,000 77,477,000 78,521,000 41,194,000 43,714,000 43,520,000 30,045,000 12,961,000 11,981,000 8,354,000 14,370,000 72,320,000 77,153,000 62,184,000 Long Term Debt Deferred taxes liabilities Total non-current liabilities Total Liabilities > Stockholders' Equity Total liabilities and stockholde... 45,179,000 123,700,000 164,965,000 154,943,000 139,661,000 80,925,000 74,669,000 72,496,000 77,869,000 252,496,000 236,495,000 219,295,000 204,522,000 All numbers in thousands Walmart TTM 2021-01-31 2020-01-31 2019-01-31 2018-01-31 Cash Flow Breakdown Cash flows from operating activ... Net Income Depreciation & amortization Deferred income taxes 10,050,000 13,510,000 14,881,000 6,670,000 9,862,000 10,892,000 11,152,000 10,987,000 10,678,000 10,529,000 1,054,000 1,911,000 320,000 -499,000 -304,000 -1,828,000 7,972,000 -327,000 295,000 3,243,000 -7,586,000 -2,395,000 -300,000 -1,311,000 -140,000 6,033,000 6,966,000 -274,000 1,831,000 4,086,000 17,827,000 25,810,000 14,550,000 17,409,000 18,286,000 1,822,000 1,521,000 945,000 1,734,000 1,210,000 29,541,000 36,074,000 25,255,000 27,753,000 28,337,000 -11,714,000 -10,264,000 -10,705,000 -10,344,000 -10,051,000 Change in working capital Inventory Accounts Payable Other working capital Other non-cash items Net cash provided by operatin... Cash flows from investing activi... Investments in property, planta... Acquisitions, net Purchases of investments Other investing activites Net cash used for investing act... Cash flows from financing activi... Debt repayment Common stock repurchased Dividends Paid -253,000 -180,000 -56,000 -14,656,000 -375,000 0 0 -367,000 102,000 479,000 -431,000 -58,000 -4,035,000 -10,071,000 -9,128,000 -24,036,000 -9,060,000 -5,779,000 -5,706,000 -1,907,000 -3,784,000 -16,120,000 -7,102,000 -2,625,000 -5,717,000 -7,410,000 -8,296,000 -6,149,000 -6,116,000 -6,048,000 -6,102,000 -6,124,000 -1,451,000 -1,670,000 -1,463,000 -1,060,000 -19,862,000 -16,117,000 -14,299,000 -2,537,000 -959,000 -19,875,000 -111,000 5,927,000 10,121,000 1,759,000 742,000 Other financing activites Net cash used privided by (use... Net change in cash Cash at beginning of period Cash at end of period > Free Cash Flow 16,954,000 9,515,000 7,756,000 7,014,000 6,867,000 6,756,000 22,598,000 17,788,000 9,515,000 7,756,000 17,827,000 25,810,000 14,550,000 17,409,000 18,286,000 Walmart Inc. (WMT) Add to watchlist NYSE - Nasdaq Real Time Price. Currency in USD 136.62 +0.89 (+0.66%) 136.62 0.00 (0.00%) At close: 4:00PM EDT After hours: 07:59PM EDT Summary Chart Conversations Statistics Historical Data Profile Financial Analysis Options Holders Annual r Show: Income Statement Balance Sheet Cash Flow Income Statement All numbers in thousands Breakdown TTM 2021-01-31 2020-01-31 2019-01-31 2018-01-31 Total Revenue 566,145,000 559,151,000 523,964,000 514,405,000 500,343,000 Cost of Revenue 424,055,000 420,315,000 394,605,000 385,301,000 373,396,000 Gross Profit 142,090,000 138,836,000 129,359,000 129,104,000 126,947,000 Operating Expenses Selling General and Administrati... 116,562,000 116,288,000 108,791,000 107,147,000 106,510,000 Total Operating Expenses 116,562,000 116,288,000 108,791,000 107,147,000 106,510,000 Operating Income or Loss 25,528,000 22,548,000 20,568,000 21,957,000 20,437,000 Interest Expense 2,146,000 2,315,000 2,599,000 2,346,000 2,330,000 Total Other Income/Expenses Net -7,215,000 210,000 1,958,000 -8,368,000 -3,136,000 Income Before Tax 16,289,000 20,564,000 20,116,000 11,460,000 15,123,000 Income Tax Expense 5,921,000 6,858,000 4,915,000 4,281,000 4,600,000 Income from Continuing Operations 10,368,000 13,706,000 15,201,000 7,179,000 10,523,000 Net Income 10,050,000 13,510,000 14,881,000 6,670,000 9,862,000 Net Income available to common s... 10,050,000 13,510,000 14,881,000 6,670,000 9,862,000 Basic EPS 4.77 5.22 2.28 3.29 Diluted EPS 4.75 5.19 2.26 3.28 2,831,000 2,850,000 2,929,000 2,995,000 Basic Average Shares Diluted Average Shares 2,847,000 2,868,000 2,945,000 3,010,000 EBITDA 34,031,000 33,702,000 24,484,000 27,982,000 Supply Chain Management Strategy, Planning, and Operation, Global Edition [EPUB] - E-book viewer 4.242,000 Other Liabilities Deferred Long-Term Liability Charges Total Liabilities Total Stockholder Equity 341,000 485,000 6,176.000 1,913,000 30,413,000 9,746,000 Amazon collected its money from sales relatively quickly with an ART of 15.62, whereas Nordstrom took almost 3 times longer with an ART of 5.71. It is impressive that Nordstrom turned its inventory almost as fast as Amazon (5.46 vs. 7.31 turns) despite being a brick-and-mortar retailer with several hundred stores. PPET is a measure of the revenue generated by a firm for each dollar invested in PP&E. Amazon generated $6.80 of revenue for each dollar invested in PP&E compared to $4.71 for Nordstrom. Amazon achieved a higher asset turnover than Nordstrom by turning its inventory faster and generating higher revenue per dollar invested in PP&E. A company can improve its asset turnover by turning its inventory more quickly or using its existing warehousing technology infrastructure to support a higher level of sales (or decreasing the warehousing and technology infrastructure needed to support the existing level of sales). Nordstrom achieved a higher ROA than Amazon because it had a much higher profit margin. A company can improve its profit margin by increasing a customer's willingness to pay or decreasing operating expense. Another useful metric is the cash-to-cash (C2C) cycle, which roughly measures the average amount of time from when cash enters the process as cost to when it returns as collected revenue. Table 3-2 A Comparison of Financial Metrics for Amazon.com and Nordstrom Inc. Metric ROE 0.35) 0.35) ROA 0.91% 10.37% ROFL 0.35) Nordstrom Inc. 735 = 38.42% 1913 735 + 160 X (1 8,089 28.05% 735 + 160 X (1 12, 148 12, 148 1.50 8,089 7,432 7.35 1,011 12, 148 = 5.71 0.35) Profit Margin = 0.49% Amazon.com 274 2.81% 9,746 274 + 141 x (1 40, 159 1.90% 274 + 141 x (1 74, 452 1.85 40, 159 54,181 2.48 21, 821 15.62 4 767 4,767 54,181 7,411 =7.31 = 6.91% Table 3-3 Selected Financial Metrics Across Industries, 2000-2012 Asset Turnover Industry APT Average C2C Cycle (days) Average Average SG&A Inventory Turns Cost/Revenue Average Operating Margin 0.25 ART 2, 129 2.0 INVT 74,452 0.18 0.17 190.3 211.6 28.3 37.4 2.2 5.6 0.31 0.36 0.31 0.23 PPET 0.16 6.2 5.46 1,360 12, 148 =4.71 2,579 1 + 7.35 5.71 5.46 = 0.22 years = 11.56 weeks 3,371 27.75% 12, 148 6.80 10,949 " 1 + 2.48 15.62 7.31 = -0.20 years = -10.53weeks 19,526 26.23% 74, 452 Pharmaceutical Medical device manufacturers Consumer packaged goods Food Consumer electronics Apparel Chemical Automotive C2C 0.12 9.3 43.8 0.10 3.2 0.14 0.35 0.09 127.7 78.1 SG&A Revenue 5.3 0.09 0.04 75.9 9.9 0.13 The key components of asset turnover are accounts receivable turnover (ART): inventory turnover (INVT); and property, plant, and equipment turnover (PPET). These are defined as follows: C2C Weeks Payable (1/APT) + Weeks in Inventory(1/INVT) + Weeks Receivable (1/ART) ART Sales Re vene Accounts Receivable INVT Cost of Good Sold Inventory ;PPET = Sales Re vene PP&E 419.0 /3832 yahoo! Search for news, symbols or companies Finance Home News Video Watchlists My Portfolio Real Estate My Screeners Tech Macy's, Inc. (M) Add to watchlist NYSE - NYSE Delayed Price. Currency in USD 22.30 -0.59 (-2.58%) 22.35 +0.05 (+0.22%) At close: 4:00PM EDT After hours: 07:58PM EDT Summary Chart Conversations Statistics Historical Data Profile Financial Analysis C Show: Income Statement Balance Sheet Cash Flow 2019-01-31 Balance Sheet All numbers in thousands Breakdown 2021-01-31 > Assets 17,706,000 Liabilities and stockholders' eq... v Liabilities 2020-01-31 21,172,000 2018-01-31 19,381,000 19,194,000 Current Liabilities Current Debt 452,000 533,000 36,000 22,000 2,856,000 2,659,000 2,638,000 2,325,000 0 81,000 168,000 296,000 485,000 590,000 614,000 662,000 Accounts Payable Taxes payable Accrued liabilities Deferred revenues Total Current Liabilities Non-current liabilities Long Term Debt 616,000 839,000 880,000 1,032,000 5,357,000 5,750,000 5,232,000 5,075,000 4,407,000 3,621,000 4,683,000 5,835,000 908,000 1,169,000 1,238,000 1,122,000 1,296,000 1,337,000 1,580,000 Deferred taxes liabilities Other long-term liabilities Total non-current liabilitles Total Liabilities 1,662,000 8,645,000 9,045,000 7,526,000 9,796,000 15,153,000 12,758,000 13,720,000 14,795,000 6,377,000 > Stockholders' Equity 2,553,000 6,436,000 5,673,000 Total llabilities and stockholde... 17,706,000 21,172,000 19,194,000 19,381,000 Mods TTM 2021-01 31 2020-01-31 2019-01-31 2018-01-31 516,000 -3,944,000 564,000 1,108,000 1,547,000 931,000 959,000 981,000 962,000 991,000 -98,000 -327,000 -6,000 40,000 31,000 38,000 63,000 58,000 -84,000 262,000 -254,000 -208,000 -343,000 -717,000 1,406,000 75,000 -87,000 Cash Flow All numbers in thousands Breakdown Cash flows from operating activ... Net Income Depreciation & amortization Deferred income taxes Stock based compensation Change in working capital Inventory Accounts Payable Other working capital Other non-cash items Net cash provided by operatin... Cash flows from investing activi... Investments in property, plant a... Acquisitions, net Other investing activites Net cash used for Investing act... Cash flows from financing activi... 221,000 -17,000 840,000 -522,000 -217,000 99,000 1,214,000 183,000 451,000 803,000 1,184,000 3,607,000 3,597,000 358,000 121,000 141,000 1,621,000 649,000 1,608,000 1,735,000 1,944,000 -407,000 -466,000 -1,157,000 -932,000 -760,000 0 94,000 28,000 -30,000 2,000 -24,000 -197,000 -325,000 -1,002,000 -456,000 -373,000 Free Cash Flow -611,000 699,000 -1,123,000 -1,544,000 -1,413,000 813,000 1,023,000 -517,000 -265,000 158,000 1,297,000 1,402,000 731,000 1,248,000 1,513,000 2,215,000 1,754,000 731,000 1,248,000 1,455,000 1,214,000 183,000 451,000 803,000 1,184,000 Macy's, Inc. (M) NYSE - NYSE Delayed Price. Currency in USD Add to watchlist 22.30 -0.59 (-2.58%) 22.35 +0.05 (+0.22%) At close: 4:00PM EDT After hours: 07:58PM EDT Summary Chart Conversations Statistics Historical Data Profile Financials Analysis Options Holders Show: Income Statement Balance Sheet Cash Flow Annual All numbers in thousands 2021-01-31 2019-01-31 TTM 21,931,000 2020-01-31 25,331,000 2018-01-31 24,837,000 18,097,000 25,739,000 Income Statement Breakdown Total Revenue Cost of Revenue Gross Profit > Operating Expenses Operating Income or Loss 13,309,000 12,286,000 15,171,000 15,215,000 15,152,000 8,622,000 5,811,000 10,160,000 10,524,000 9,685,000 7,418,000 6,767,000 8,998,000 9,039,000 8,131,000 1,204,000 -956,000 1,162,000 1,485,000 1,554,000 Interest Expense 304,000 265,000 204,000 261,000 323,000 -194,000 -3,549,000 -249,000 171,000 263,000 686,000 -4,790,000 728,000 1,420,000 1,507,000 Total Other Income/Expenses Net Income Before Tax Income Tax Expense Income from Continuing Operations Net Income 170,000 -846,000 164,000 322,000 -29,000 516,000 -3,944,000 564,000 1,098,000 1,536,000 1,547,000 516,000 -3,944,000 564,000 1,108,000 Net Income available to common s... 516,000 -3,944,000 564,000 1,108,000 1,547,000 -12.68 1.82 3.60 5.07 Basic EPS Diluted EPS -12.68 1.81 3.56 5.04 - 311,100 309,700 307,700 305,400 Basic Average Shares Diluted Average Shares 311,100 311,400 311,400 306,800 EBITDA -3,566,000 1,913,000 2,643,000 2,821,000 Walmart Inc. (WMT) Add to watchlist NYSE - Nasdaq Real Time Price Currency in USD 136.62 +0.89 (+0.66%) 136.62 0.00 (0.00%) At close: 4:00PM EDT After hours: 07:59PM EDT Summary Chart Conversations Statistics Historical Data Profile Financial Analysis 2019-01-31 2018-01-31 219,295,000 204,522,000 Show: Income Statement Balance Sheet Cash Flow Balance Sheet All numbers in thousands Breakdown 2021-01-31 2020-01-31 > Assets 252,496,000 236,495,000 v Liabilities and stockholders' eq... Liabilities Current Liabilities Current Debt 3,339,000 5,937,000 Accounts Payable 49,141,000 46,973,000 Taxes payable 242,000 280,000 Accrued liabilities 14,896,000 12,798,000 Deferred revenues 2,310,000 1,990,000 Other Current Liabilities 12,734,000 Total Current Liabilities 92,645,000 77,790,000 Non-current liabilities 7,101,000 8,995,000 47,060,000 46,092,000 428,000 645,000 13,269,000 13,295,000 2,017,000 1,932,000 77,477,000 78,521,000 41,194,000 43,714,000 43,520,000 30,045,000 12,961,000 11,981,000 8,354,000 14,370,000 72,320,000 77,153,000 62,184,000 Long Term Debt Deferred taxes liabilities Total non-current liabilities Total Liabilities > Stockholders' Equity Total liabilities and stockholde... 45,179,000 123,700,000 164,965,000 154,943,000 139,661,000 80,925,000 74,669,000 72,496,000 77,869,000 252,496,000 236,495,000 219,295,000 204,522,000 All numbers in thousands Walmart TTM 2021-01-31 2020-01-31 2019-01-31 2018-01-31 Cash Flow Breakdown Cash flows from operating activ... Net Income Depreciation & amortization Deferred income taxes 10,050,000 13,510,000 14,881,000 6,670,000 9,862,000 10,892,000 11,152,000 10,987,000 10,678,000 10,529,000 1,054,000 1,911,000 320,000 -499,000 -304,000 -1,828,000 7,972,000 -327,000 295,000 3,243,000 -7,586,000 -2,395,000 -300,000 -1,311,000 -140,000 6,033,000 6,966,000 -274,000 1,831,000 4,086,000 17,827,000 25,810,000 14,550,000 17,409,000 18,286,000 1,822,000 1,521,000 945,000 1,734,000 1,210,000 29,541,000 36,074,000 25,255,000 27,753,000 28,337,000 -11,714,000 -10,264,000 -10,705,000 -10,344,000 -10,051,000 Change in working capital Inventory Accounts Payable Other working capital Other non-cash items Net cash provided by operatin... Cash flows from investing activi... Investments in property, planta... Acquisitions, net Purchases of investments Other investing activites Net cash used for investing act... Cash flows from financing activi... Debt repayment Common stock repurchased Dividends Paid -253,000 -180,000 -56,000 -14,656,000 -375,000 0 0 -367,000 102,000 479,000 -431,000 -58,000 -4,035,000 -10,071,000 -9,128,000 -24,036,000 -9,060,000 -5,779,000 -5,706,000 -1,907,000 -3,784,000 -16,120,000 -7,102,000 -2,625,000 -5,717,000 -7,410,000 -8,296,000 -6,149,000 -6,116,000 -6,048,000 -6,102,000 -6,124,000 -1,451,000 -1,670,000 -1,463,000 -1,060,000 -19,862,000 -16,117,000 -14,299,000 -2,537,000 -959,000 -19,875,000 -111,000 5,927,000 10,121,000 1,759,000 742,000 Other financing activites Net cash used privided by (use... Net change in cash Cash at beginning of period Cash at end of period > Free Cash Flow 16,954,000 9,515,000 7,756,000 7,014,000 6,867,000 6,756,000 22,598,000 17,788,000 9,515,000 7,756,000 17,827,000 25,810,000 14,550,000 17,409,000 18,286,000 Walmart Inc. (WMT) Add to watchlist NYSE - Nasdaq Real Time Price. Currency in USD 136.62 +0.89 (+0.66%) 136.62 0.00 (0.00%) At close: 4:00PM EDT After hours: 07:59PM EDT Summary Chart Conversations Statistics Historical Data Profile Financial Analysis Options Holders Annual r Show: Income Statement Balance Sheet Cash Flow Income Statement All numbers in thousands Breakdown TTM 2021-01-31 2020-01-31 2019-01-31 2018-01-31 Total Revenue 566,145,000 559,151,000 523,964,000 514,405,000 500,343,000 Cost of Revenue 424,055,000 420,315,000 394,605,000 385,301,000 373,396,000 Gross Profit 142,090,000 138,836,000 129,359,000 129,104,000 126,947,000 Operating Expenses Selling General and Administrati... 116,562,000 116,288,000 108,791,000 107,147,000 106,510,000 Total Operating Expenses 116,562,000 116,288,000 108,791,000 107,147,000 106,510,000 Operating Income or Loss 25,528,000 22,548,000 20,568,000 21,957,000 20,437,000 Interest Expense 2,146,000 2,315,000 2,599,000 2,346,000 2,330,000 Total Other Income/Expenses Net -7,215,000 210,000 1,958,000 -8,368,000 -3,136,000 Income Before Tax 16,289,000 20,564,000 20,116,000 11,460,000 15,123,000 Income Tax Expense 5,921,000 6,858,000 4,915,000 4,281,000 4,600,000 Income from Continuing Operations 10,368,000 13,706,000 15,201,000 7,179,000 10,523,000 Net Income 10,050,000 13,510,000 14,881,000 6,670,000 9,862,000 Net Income available to common s... 10,050,000 13,510,000 14,881,000 6,670,000 9,862,000 Basic EPS 4.77 5.22 2.28 3.29 Diluted EPS 4.75 5.19 2.26 3.28 2,831,000 2,850,000 2,929,000 2,995,000 Basic Average Shares Diluted Average Shares 2,847,000 2,868,000 2,945,000 3,010,000 EBITDA 34,031,000 33,702,000 24,484,000 27,982,000 Supply Chain Management Strategy, Planning, and Operation, Global Edition [EPUB] - E-book viewer 4.242,000 Other Liabilities Deferred Long-Term Liability Charges Total Liabilities Total Stockholder Equity 341,000 485,000 6,176.000 1,913,000 30,413,000 9,746,000 Amazon collected its money from sales relatively quickly with an ART of 15.62, whereas Nordstrom took almost 3 times longer with an ART of 5.71. It is impressive that Nordstrom turned its inventory almost as fast as Amazon (5.46 vs. 7.31 turns) despite being a brick-and-mortar retailer with several hundred stores. PPET is a measure of the revenue generated by a firm for each dollar invested in PP&E. Amazon generated $6.80 of revenue for each dollar invested in PP&E compared to $4.71 for Nordstrom. Amazon achieved a higher asset turnover than Nordstrom by turning its inventory faster and generating higher revenue per dollar invested in PP&E. A company can improve its asset turnover by turning its inventory more quickly or using its existing warehousing technology infrastructure to support a higher level of sales (or decreasing the warehousing and technology infrastructure needed to support the existing level of sales). Nordstrom achieved a higher ROA than Amazon because it had a much higher profit margin. A company can improve its profit margin by increasing a customer's willingness to pay or decreasing operating expense. Another useful metric is the cash-to-cash (C2C) cycle, which roughly measures the average amount of time from when cash enters the process as cost to when it returns as collected revenue. Table 3-2 A Comparison of Financial Metrics for Amazon.com and Nordstrom Inc. Metric ROE 0.35) 0.35) ROA 0.91% 10.37% ROFL 0.35) Nordstrom Inc. 735 = 38.42% 1913 735 + 160 X (1 8,089 28.05% 735 + 160 X (1 12, 148 12, 148 1.50 8,089 7,432 7.35 1,011 12, 148 = 5.71 0.35) Profit Margin = 0.49% Amazon.com 274 2.81% 9,746 274 + 141 x (1 40, 159 1.90% 274 + 141 x (1 74, 452 1.85 40, 159 54,181 2.48 21, 821 15.62 4 767 4,767 54,181 7,411 =7.31 = 6.91% Table 3-3 Selected Financial Metrics Across Industries, 2000-2012 Asset Turnover Industry APT Average C2C Cycle (days) Average Average SG&A Inventory Turns Cost/Revenue Average Operating Margin 0.25 ART 2, 129 2.0 INVT 74,452 0.18 0.17 190.3 211.6 28.3 37.4 2.2 5.6 0.31 0.36 0.31 0.23 PPET 0.16 6.2 5.46 1,360 12, 148 =4.71 2,579 1 + 7.35 5.71 5.46 = 0.22 years = 11.56 weeks 3,371 27.75% 12, 148 6.80 10,949 " 1 + 2.48 15.62 7.31 = -0.20 years = -10.53weeks 19,526 26.23% 74, 452 Pharmaceutical Medical device manufacturers Consumer packaged goods Food Consumer electronics Apparel Chemical Automotive C2C 0.12 9.3 43.8 0.10 3.2 0.14 0.35 0.09 127.7 78.1 SG&A Revenue 5.3 0.09 0.04 75.9 9.9 0.13 The key components of asset turnover are accounts receivable turnover (ART): inventory turnover (INVT); and property, plant, and equipment turnover (PPET). These are defined as follows: C2C Weeks Payable (1/APT) + Weeks in Inventory(1/INVT) + Weeks Receivable (1/ART) ART Sales Re vene Accounts Receivable INVT Cost of Good Sold Inventory ;PPET = Sales Re vene PP&E 419.0 /3832