data_requirements

Data Requirements for Walmart Valuation

Objective: Obtain the base data to run ALL valuation models in a unified manner.

1. General / Macro (Input for WACC & Discount Rates)

Source: Bloomberg / Capital IQ / St. Louis Fed / Damodaran Target file: data/raw/macro_data.csv

Metric	Ticker / ID	Description	Bloomberg Command	Capital IQ Path	Model Use
Risk-Free Rate (Rf)	USGG10YR Index	10Y Treasury Bond Yield	USGG10YR <Index> HP <GO>	Markets > Rates > US Treasury	WACC, CAPM (Ke)
Equity Risk Premium	Damodaran	Risk premium (4.5% - 5.5%)	N/A (Web)	N/A (Web)	CAPM (Ke)
Beta	WMT US Equity -> BETA	Adjusted Beta (2Y/5Y Weekly)	WMT US <Equity> BETA <GO>	Tearsheet > Risk	CAPM (Ke)
Marginal Tax Rate	WMT US Equity -> FA	Marginal tax rate	WMT US <Equity> FA <GO>	Financials > Income Statement	WACC, DCF
Cost of Debt (Rd)	WMT Bond Yields	Average YTM (or WACC calc)	WMT US <Equity> WACC <GO>	Tearsheet > WACC	WACC (Kd)
GDP Growth (g)	Macro Forecast	Long-term real/nominal GDP	ECFC <GO> (Economic Forecasts)	Economics > Forecasts	Terminal Value
Inflation (CPI)	CPI YOY Index	Expected inflation	CPI YOY <Index> HP <GO>	Economics > Inflation	Nominal adjustments

2. Walmart Financials (5-10 Year Historical + TTM)

Source: Bloomberg (FA <GO>) / SEC Filings (10-K) Target file: data/raw/wmt_financials.csv Commands: FA <GO> → “Income Statement” / “Balance Sheet” / “Cash Flow” tab → Excel Export.

Category	Key Metrics	Bloomberg Command	Capital IQ Path	Use
Income Statement	Rev, EBITDA, EBIT, NI, EPS	WMT US <Equity> FA <GO>	Financials > Income Statement	Solvency, DCF
Balance Sheet	Cash, Debt, Equity, Shares	WMT US <Equity> FA <GO>	Financials > Balance Sheet	WACC, EV
Cash Flow	OCF, Capex, FCF, Dividends	WMT US <Equity> FA <GO>	Financials > Cash Flow	DCF, DDM
Ratios	ROIC, ROE, Asset Turnover	WMT US <Equity> FA <GO> (Ratios)	Financials > Ratios	RIM, Quality

3. Segment Data (For Sum-of-the-Parts - SOTP)

Source: Bloomberg (DES <GO> or Segment Analysis) / 10-K Notes Target file: data/raw/wmt_segments.csv Commands: FA <GO> → Segments (“Product Segments” or “Geo Segments” tab).

Segment	Required Metrics	Bloomberg Command	Capital IQ Path
Walmart U.S.	Rev, EBIT, Capex	WMT US <Equity> FA <GO> (Segments)	Financials > Segments
Walmart Int’l	Rev, EBIT, Growth	WMT US <Equity> FA <GO> (Segments)	Financials > Segments
Sam’s Club	Rev, EBIT, Members	WMT US <Equity> FA <GO> (Segments)	Financials > Segments
Ads (Connect)	Rev (if disclosed)	Search in DOCS <GO> (Filings)	Filings > Search “Connect”
eCommerce	GMV, Sales	Search in DOCS <GO> (Filings)	Filings > Search “eCommerce”

4. Peers & Comps (For Relative Valuation)

Source: Bloomberg (RV <GO>) Target file: data/raw/peers_comps.csv Commands: RV <GO> (Relative Valuation) → Export to Excel.

Peers: Amazon (AMZN), Costco (COST), Target (TGT), Kroger (KR), Dollar General (DG).

Metric	Description	Bloomberg Command	Capital IQ Path
P/E (LTM & NTM)	Price / Earnings	RV <GO> → Add Column “P/E”	Peers > Quick Comps
EV / EBITDA	Enterprise Value / EBITDA	RV <GO> → Add Column “EV/EBITDA”	Peers > Quick Comps
EV / Sales	Enterprise Value / Sales	RV <GO> → Add Column “EV/Sales”	Peers > Quick Comps
PEG Ratio	P/E growth adjusted	RV <GO> → Add Column “PEG”	Peers > Quick Comps
Margins	Gross/EBITDA/Net	RV <GO> → Add Column “Margin”	Peers > Quick Comps

5. Official Documents (SEC Filings)

Direct links to the official database (EDGAR) for filings:

• Walmart Inc. (WMT) EDGAR Page: SEC.gov - WMT Filings
• 10-K (Annual Reports): Latest 10-K Search (Look for the most recent from Feb/Mar)
• 10-Q (Quarterly Reports): Latest 10-Q Search
• 8-K (Current Reports): Latest 8-K Search (Relevant events)
• DEF 14A (Proxy Statement): Latest Proxy Search (Executive compensation, corporate governance)

Note: To download, look for the .htm format for web reading or .xls if Interactive Data is available.