Corporate Actions: A Case of Walmart and Amazon

Case Code: FINC214
Case Length: 8 Pages
Period: 1962- 2024
Pub Date: 2024
Teaching Note: Available

Price: Rs.200
Organization: Walmart Inc.
Industry: Retailing
Countries: United States
Themes: Corporate Finance

Abstract Case Intro 1 Case Intro 2 Excerpts

Corporate Actions by Walmart

Walmart Inc. (Walmart) was founded by Sam Walton as a retail store in 1962. Gradually, the company expanded its network through deep discount stores, wholesale businesses, and e-commerce businesses. The company had been seeing continuous growth in its revenue (Refer to Exhibit I for Walmart’s revenue growth from 2002 - 2023), which went up from US$ 572.8 billion in 2022 to US$ 611.3 billion in 2023. In addition to revenue growth, the company’s Free Cash Flow (FCF) also increased from US$ 11.1 billion in 2022 to US$ 12.0 billion in 2023 (Refer to Exhibit II for Walmart’s FCF trend from 2002-2023). Looking at the availability of FCF and the growing revenue trend, Walmart decided to share its profits with shareholders in the form of share repurchase, dividend, and stock split..

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