COMPANY

TICKER SYMBOL OFFICIAL NAME LOGO RANKING - BRAND TYPE OF STOCK OFFICERS
DIRECTORY

C. Douglas McMillon
President, Chief Executive
Officer & Director
Greg Foran
President and CEO,
Walmart U.S.
Judith McKenna
WMT Wal-Mart Stores, Inc 11 Blue Chip President and CEO,
Walmart International
John Furner
President and CEO, Sam’s
Club
Marc Lore
President and CEO,
Walmart Commerce U.S.
 TRADITIONAL SECURITY ANALYSIS

ECONOMIC ANALYSIS
INDUSTRIAL
GOVERNMEN DEBT
GDP PRODUCTIO TAXES MONEY SUPPLY INTEREST RATES INFLATION
T SPENDING MANAGEMENT
N

Walmart's Walmart has Preparing your Walmart is the Debt ratios help The Walmart Walmart credit cards come Grocery chains have long
revenues opened income tax beneficiary of investors analyze a MoneyCenter with 22.90% APR - which is awaited the right conditions to
exceed thousands of returns can be a billions of dollars company's ability offers a wide higher than average, and charge more for their products,
Belgium's stores in the breeze when you per year in to pay the principal variety of financial means greater potential and a broad view of the U.S.
GDP. The U.S. and federal subsidies, and interest on its services at your expenses. If you carry a credit would suggest this is their
have everything
value of expanded according to a outstanding debt. local Walmart card balance month-to-month, moment: Unemployment is
you need ready,
Belgium's internationally. new report [PDF] The ratios reveal store. Save time you should avoid getting a near historic lows, consumer
GDP in 2016 Through and it's so easy from the non- how a company with online and credit card with interest as confidence is high and inflation
was $468,14 innovation, to do. There are partisan, finances its asset mobile services, high as this. is inching upward.
8 million. If we're creating a lots of great tools progressive purchases and its including cash and
it were a seamless available to help group Americans ability to withstand transfer services,
country, experience to let you get your for Tax Fairness. economic insurance, tax
Walmart customers shop taxes done right, turbulence.Walmar services and more.
would be anytime and and those tools t's D/E ratio as of Learn more about
ranked 24th anywhere are available at Jan. 31, 2018, was the wide range of
in the world online, through Walmart's Every 0.60. financial services
by its GDP. mobile devices Day Low Prices we offer and tasks
and in stores. we can help you
to help you stay
We are creating take care of.
opportunities within your
and bringing budget, too.
value to Whether you
customers and need some new
communities tech or an
around the introductory
globe. book.
 ECONOMIC ANALYSIS
CONSUMER BUSINESS CURRENCY PERSONAL
FOREIGN TRADE RETAIL SALES EMPLOYMENT REMARKS
SPENDING INVESTMENTS EXCHANGE RATES INCOME

Highly readable Walmart's 150+ COMPLY with Walmart's exchange Walmart is the largest Personal leaves Continued
with full-color distribution centers are applicable rates are set by retail corporation of are for associates' expansion into
photographs, hubs of activity for our import/export laws and MoneyGram, which is discount department and time away that new markets
this 120-page business. Our regulations by using typically at least 5% warehouse stores in the isn't covered by provides job
handbook is distribution operation accurate data about above the mid-market world. In 2017, the state or federal ... opportunities to
great for is one of the largest in rate. The company said company's global net sales a short-term
classifications, new workers.
teaching life the world servicing operating profit from amassed approximately disability claim
skills to a stores, clubs and direct valuations, country of international business 481.32 billion U.S. for the associate Walmart
twenty-first delivery to customers. origin, and other fell 14.3% in the dollars. These figures to replace part of consistently hires
century Walmart transportation applicable customs quarter and rose 4.6% have grown considerably their income. job seekers with
population. The has a fleet of 6,100 entry data. for the year. over the last few years; little to no
handbook will tractors, 61,000 trailers SUPERVISE AND "Reported International increasing about 0.8 experience to fill
provide readers and more than 7,800 AUDIT CUSTOMS operating income also percent in 2017 compared open positions.
a thorough and drivers. BROKERS and was negatively affected to the prior fiscal year. Applicants should
non-threatening other third parties who by the lower value of have excellent
introduction to: interact with customs currencies versus the communication
The Wise Buyer; or U.S. dollar. On a skills, pleasant
Shopping for constant currency basis
import/export personalities, and
Goods; (assuming currency
Shopping for authorities on behalf of exchange rates the ability to work
Services; the company. remained the same as flexible schedules.
Consumer COMPLY with all the prior year),
Rights. legally applicable trade International operating
or income increased 5.1%
import/export in the fourth quarter
sanctions or and 10.2% for the full
restrictions. fiscal year."
 INDUSTRY ANALYSIS - Porter’s Model

BARGAINING
THREAT OF BARGAINING POWER GOVERNMENT INTENSITY OF
THREAT OF ENTRY POWER OF REMARKS
SUBSTITUTE OF CUSTOMERS POLICIES RIVALRY
SUPPLIERS

We’re here to serve The five forces are: 1. There are several has weak intensity in the Walmart’s
our customers. We Rivalry among existing other retail brands retail industry Government
have high standards of firms. 2. Threat of new too. However, the environment. There are Relations
performance …and we entrants. 3. Bargaining number of retailers many suppliers in the The large population Departments (US
do the right thing. power of buyers. 4. offering prices as low industry. Large firms like of buyers exerts a Government
Acting with integrity is Bargaining power of as Walmart are not Walmart can easily affect weak force on Relations, Public
a core value. That's suppliers. 5. Threat of many. The only these suppliers. Based on Walmart and the Affairs and
why we pay such close substitutes. This comparable brand is this condition, Walmart retail industry. Government
attention to and invest model can be used by Costco which a experiences the weak Individual buyers have Relations) coordinate
so much in ethics and business managers to membership based force of the bargaining negligible impact on company interactions
compliance. develop an edge over retail chain. There are power of suppliers, based the company’s global with elected officials
rival firms. Use of this other retail brands too on the following external revenues. The weak and legislative and
model will allow the where the customers factors:. force of buyer regulatory bodies at
manager to better can shop like Target diversity and the the federal, state and
understand the and Best Buy but weak force of small local level. To help
context of the industry when it comes to individual purchases ensure consistent
in which his/her firm pricing, none of the further weaken the management of
operates in. other brands provides bargaining power of these relationships,
the same price customers. all conversations and
advantage as engagement with
Walmart. elected officials or
government agencies
.
 FINANCIAL ANALYSIS

2014 % 2015 % 2016 % 2017 % 2018 %

BALANCE SHEET
(IN BILLION)
ASSET
$ $ $ $ $ -9% $ -6% $ -90%
$ $
Current Asset 6,328,000,000.0 6,024,000,0 (304,000,000.0 -5% 5,769,000,0 (559,000,000.0 (362,000,000.00) (5,709,000,000.00)
5,966,000,000.00 619,000,000.00
0 00.00 0) 00.00 0)
$ $ $ $ - $ $ - $ $ -89%
Non-Current -
197,382,000,00 (4,028,200,0 $(201,410,200, (3,780,700, (201,162,700,0 102% (3,920,800,000.00) (201,302,800,00 102 21,311,000,000 (176,071,000,000.00
Asset 102%
0.00 00.00) 000.00) 000.00) 00.00) 0.00) % .00 )
Total Asset $ $ $ $ -99% $ - $ $ -89%
$
203,710,000,00 1,995,800,0 $(201,714,200, -99% 1,988,300,0 (201,721,700,0 (201,664,800,00 99% 21,930,000,000 (181,780,000,000.00
2,045,200,000.00
0.00 00.00 000.00) 00.00 00.00) 0.00) .00 )
LIABILITIES
Current Liabilities $ $ $ $ $ 3% $ 20% $ $ 19%
$
6,527,000,000.0 6,462,000,0 (65,000,000.00 -1% 6,693,000,0 166,000,000.0 1,325,000,000.0 7,748,000,000. 1,221,000,000.00
7,852,000,000.00
0 00.00 ) 00.00 0 0 00
Non-Current $ $ $ $ 3% $ $ 44% $ $ 19%
$
Liabilities (5,349,300,000. (5,302,300,0 -1% (5,510,100, (160,800,000.0 (7,728,300,000.00) (2,379,000,000.0 (6,351,400,000. (1,002,100,000.00)
47,000,000.00
00) 00.00) 000.00) 0) 0) 00)
Total Liabilities $ $ $ $ $ 0% $ - $ $ 19%
$
1,177,700,000.0 1,159,700,0 (18,000,000.00 -2% 1,182,900,0 5,200,000.00 (1,054,000,000.0 89% 1,396,600,000. 218,900,000.00
123,700,000.00
0 00.00 ) 00.00 0) 00
EQUITY
Common Equity $ $ $ $ $ -90% $ 857 $ -91%
$ $
(Total) 8,139,000,000.0 8,055,000,0 (84,000,000.00 -1% 778,000,00 (7,361,000,000 69,731,000,000. % (7,414,000,000.00)
77,870,000,000.00 725,000,000.00
0 00.00 ) 0.00 .00) 00
Total Equity $ $ $ $ $ -6% $ -6% $ $ -7%
$
8,594,000,000.0 8,361,000,0 (233,000,000.0 -3% 8,054,000,0 (540,000,000.0 (512,000,000.00) 7,963,000,000. (631,000,000.00)
8,082,000,000.00
0 00.00 0) 00.00 0) 00
TOTAL $ $ $ $ $ -2% $ 0% $ $ 8%
$
LIABILITIES AND 2,037,100,000.0 1,995,800,0 (41,300,000.00 -2% 1,988,300,0 (48,800,000.00 8,100,000.00 2,193,000,000. 155,900,000.00
2,045,200,000.00
EQUITY 0 00.00 ) 00.00 ) 00
 INCOME
STATEMENT

Sales/Reven $ $ $ $ 0% $ 3% $ $ 6%
$ $
ue 4,856,500,000. 4,821,300,000.0 -1% 4,851,400,000 (5,100,000.00) 142,600,000.00 5,144,100,000. 287,600,000.00
(35,200,000.00) 4,999,100,000.00
00 0 .00 00
Cost of $ $ $ $ -1% $ 2% $ $ 6%
$ $
Goods Sold 3,650,900,000. 3,609,800,000.0
(41,100,000.00)
-1% 3,612,600,000 (38,300,000.0 3,734,000,000.00
83,100,000.00 3,853,000,000. 202,100,000.00
00 0 .00 0) 00
Gross $ $
$
$ $ 3% $ $ 5% $ $ 7%
Income 1,205,700,000. 1,211,500,000.0 0% 1,238,900,000 33,200,000.00 59,400,000.00 1,291,000,000. 85,300,000.00
5,800,000.00 1,265,100,000.00
00 0 .00 00
SG&A $ $ $ $ - $ -89% $ $ -89%
$ $
Expense 9,342,000,000. 9,704,000,000.0
362,000,000.00
4% 1,018,500,000 (8,323,500,00 89 1,053,100,000.00
(8,288,900,000.0 1,071,500,000. (8,270,500,000.00)
00 0 .00 0.00) % 0) 00
$ $ $ -3% $ -6% $ -6%
Interest $ $ $ $
249,000,000.0 3% 241,000,000.0 (8,000,000.00) (16,000,000.00) (14,000,000.00)
Expense 0
256,000,000.00 7,000,000.00
0
233,000,000.00 235,000,000.00
Pretax $ $ $ $ $ - $ 510% $ $ 362%
773 $
Income 248,000,000.0 2,164,000,000.0 1,916,000,000.0
%
205,000,000.0 (43,000,000.0 17 1,512,000,000.00
1,264,000,000.0 1,146,000,000. 898,000,000.00
0 0 0 0 0) % 0 00
Income Tax $ $ $ - $ -94% $ -46%
$ $ $ $
799,000,000.0
656,000,000.00
(143,000,000.00 -18%
62,000,000.00
(737,000,000. 92 46,000,000.00
(753,000,000.00) 428,000,000.00
(371,000,000.00)
0 ) 00) %
Net Income $ - $ -39% $ -59%
$ $ $ $ (254,000,000. 16 (632,000,000.00) (951,000,000.00)
$ $
1,618,000,000. 1,469,000,000.0 (149,000,000.00 -9% 1,364,000,000
00 0 ) .00
00) % 986,000,000.00 667,000,000.00

EBITDA $ - $ -13% $ -10%

$ $ $ $ (420,000,000. 12 (459,000,000.00) $ (368,000,000.00)
$
3,632,000,000. 3,356,000,000.0 (276,000,000.00 -8% 3,212,000,000 3,264,000,000.
00 0 ) .00
00) % 3,173,000,000.00
00
CASHFLOW
STATEMENT
Operating $ 10% $ -1% $ -3%
$ $ $ $ $ $
Activities 2,856,000,000.00 2,739,000,000.00 (117,000,000.00)
-4%
3,153,000,000.00
297,000,000.00 2,834,000,000.00
(22,000,000. 2,775,000,000.00
(81,000,000.0
00) 0)
Investing $ 9% $ - $ 85%
$ $ $ - $ $ $
Activities 1,285,000,000.00 99%
(111,000,000.00) 390,000,000 30% (1,107,000,00
(1,297,000,000.00) (12,000,000.00) (1,408,000,000.00) (907,000,000.00) (2,404,000,000.00)
.00 0.00)
$ 42% $ 50% $ -
$ $ $ - $ $ $
Financing 1,175,000,000.00 89%
(561,000,000.00) (664,000,00 1,069,000,000 81%
(1,323,000,000.00) (148,000,000.00) (1,884,000,000.00) (1,987,000,000.00) (254,000,000.00)
Activities 0.00) .00

RETAINED EARNINGS (IN

YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5
BILLIONS)

REBEG 33.9 29.2 27.4 24.6 21.3

RE IN 0 -4.7 -1.8 -2.8 0

RE OUT 0 0 0 0 -3.3
REEND 29.2 27.4 24.6 21.3 -
 RATIOS

2014 2015 2016 2017 2018 INDUSTRY AVERAGE REMARKS

LIQUIDITY
Current Ratio 97% 932% 862% 760% 799%
Acid-test Ratio 38% 344% 324% 314% 327%

PROFITABILITY
Net Profit Margin 33% 30% 28% 20% 13%
Return on Assets 0.79% 0.74% 0.69% 0.48% 3.04%
Return on Equity 18.83% 17.57% 16.94% 12.20% 8.38%

ACTIVITY
Asset Turnover 2% 2% 2% 2% 23%
Inventory Turnover 30% 37% 8.61B 10.02B 11.53B
Total Asset Turnover 2% 2% 2% 2% 23%

LEVERAGE
Debt-Equity 1370% 1387% 1469% 2% 1754%
Times Interest Earned 1459% 1311% 1333% 1362% 1389%

COMMON STOCK RATIOS

Preice-Equity Ratio
Price-Equity Growth Ratio (PEG)
Dividends Per Share
Book Value Per Share

Price to Book Ratio

 VERTICAL ANALYSIS WALMART

2014 % 2015 % 2016 % 2017 % 2018 %

BALANCE
SHEET (IN
BILLION)
ASSET
$ $ $ $ $ 115% $ -447% $ $ 1%
$
Current Asset 63,280,000 31% 60,240,000,000. (3,040,000,000. 74% 57,690,000,00 (5,590,000,000.00 (3,620,000,000.00) 61,900,000,000. (1,380,000,000.00
59,660,000,000.00
,000.00 00 00) 0.00 ) 00 )
$ 69% $ $ $ $ -15% $ $ 547% $ $ 99%
Non-Current
140,430,00 139,340,000,00 (1,090,000,000. 26% 141,140,000,0 710,000,000.00 144,860,000,000.0 4,430,000,000.00 (39,970,000,000 (180,400,000,000.
Asset
0,000.00 0.00 00) 00.00 0 .00) 00)
Total Asset $ $ $ $ $ 100% $ $ 100% $ $ 100%
100
203,710,00 199,580,000,00 (4,130,000,000. 100% 198,830,000,0 (4,880,000,000.00 204,520,000,000.0 810,000,000.00 21,930,000,000. (181,780,000,000.
%
0,000.00 0.00 00) 00.00 ) 0 00 00)
LIABILITIES

Current $ $ $ $ $ 1200 $ -7089% $ $ -369%

1424 $
Liabilities 65,270,000 32% 6,462,000,000.0 (58,808,000,00 6,693,000,000 (58,577,000,000.0 % (57,418,000,000.00) 7,748,000,000.0 (57,522,000,000.0
% 7,852,000,000.00
,000.00 0 0.00) .00 0) 0 0)
Non-Current $ 26% $ $ - $ $ - $ $ -7436% $ $ 509%
Liabilities 52,500,000 109,508,000,00 57,008,000,000 1380 111,597,000,0 59,097,000,000.0 1211 (7,728,300,000.00) (60,228,300,000.00) 131,912,000,00 79,412,000,000.0
,000.00 0.00 .00 % 00.00 0 % 0.00 0
Total $ $ $ $ $ -11% $ - $ $ 140%
$
Liabilities 117,770,00 58% 115,970,000,00 (1,800,000,000. 44% 118,290,000,0 520,000,000.00 (117,646,300,000.0 14524% 139,660,000,00 21,890,000,000.0
123,700,000.00
0,000.00 0.00 00) 00.00 0) 0.00 0
EQUITY
Common $ $ $ $ $ 74% $ -435% $ $ -57%
$
Equity (Total) 81,390,000 40% 80,550,000,000. (840,000,000.0 20% 77,800,000,00 (3,590,000,000.00 (3,520,000,000.00) 72,500,000,000. (8,890,000,000.00
77,870,000,000.00
,000.00 00 0) 0.00 ) 00 )
Total Equity $ $ $ $ $ 11% $ -63% $ $ -4%
$
8,594,000, 4% 8,361,000,000.0 (233,000,000.0 6% 8,054,000,000 (540,000,000.00) (512,000,000.00) 7,963,000,000.0 (631,000,000.00)
8,082,000,000.00
000.00 0 0) .00 0
TOTAL $ $ $ $ $ 100% $ $ 100% $ $ 100%
LIABILITIES 100 (4,880,000,000.00 810,000,000.00 15,590,000,000.0
203,710,00 199,580,000,00 (4,130,000,000. 100% 198,830,000,0 204,520,000,000.0 219,300,000,00
AND EQUITY % ) 0
0,000.00 0.00 00) 00.00 0 0.00
INCOME
STATEMENT

Sales/Revenu $ $ $ $ $ 100% $ 100% $ $ 100%

e 100 (38,160,000,000.0 $ (38,112,000,000.00) (37,865,000,000.0
42,110,000 3,877,000,000.0 (38,233,000,00 100% 3,950,000,000 4,245,000,000.0
% 0) 3,998,000,000.00 0)
,000.00 0 0.00) .00 0
Cost of Goods $ $ $ $ $ 5% $ 7% $ $ 6%
Sold (1,850,000,000.00 $ (2,490,000,000.00) (2,140,000,000.00
15,210,000 36% 14,530,000,000. (680,000,000.0 1.78% 13,360,000,00 13,070,000,000.
) 12,720,000,000.00 )
,000.00 00 0) 0.00 00
Gross Income $ $ $ $ $ 2% $ -1% $ $ 63%
(770,000,000.00) $ 370,000,000.00 (23,962,000,000.0
26,900,000 64% 24,250,000,000. (2,650,000,000. 7% 26,130,000,00 2,938,000,000.0
27,270,000,000.00 0)
,000.00 00 00) 0.00 0
SG&A $ $ $ $ $ -5% $ 41% $ $ 42%
Expense (2,060,000,000.00 $ (15,722,000,000.00) (15,739,000,000.0
17,700,000 42% 16,810,000,000. (890,000,000.0 2% 15,640,000,00 1,961,000,000.0
) 1,978,000,000.00 0)
,000.00 00 0) 0.00 0
Interest $ $ $ $ 0% $ 0% $ 0%
Expense $ (39,000,000.00) $ 22,000,000.00 $ 40,000,000.00
732,000,00 2% (60,000,000.00 0% 693,000,000.0
672,000,000.00 754,000,000.00 772,000,000.00
0.00 ) 0
Pretax $ $ $ $ $ 33% $ 28% $ $ 23%
Income (12,620,000,000.0 $ (10,760,000,000.00) (8,580,000,000.00
17,280,000 41% 5,400,000,000.0 (11,880,000,00 31% 4,660,000,000 8,700,000,000.0
0) 6,520,000,000.00 )
,000.00 0 0.00) .00 0
Income Tax $ $ $ $ 12% $ 3% $ $ 8%
$ (4,632,000,000.00 $ (1,250,000,000.00) (2,840,000,000.00
5,350,000, 13% (4,408,000,000. 12% 718,000,000.0 2,510,000,000.0
942,000,000.00 ) 4,100,000,000.00 )
000.00 00) 0 0
Net Income $ $ $ $ $ 21% $ 25% $ $ 15%
(8,000,000,000.00 $ (9,530,000,000.00) (5,700,000,000.00
11,920,000 28% 4,440,000,000.0 (7,480,000,000. 20% 3,920,000,000 6,220,000,000.0
) 2,390,000,000.00 )
,000.00 0 00) .00 0
EBITDA $ $ $ $ $ 0% $ 10% $ $ 4%
50,000,000.00 $ (3,710,000,000.00) (1,590,000,000.00
15,880,000 38% 13,810,000,000. (2,070,000,000. 5% 15,930,000,00 14,290,000,000.
12,170,000,000.00 )
,000.00 00 00) 0.00 00
CASHFLO
W
STATEME
NT
Operating $ $ $ $ $ $ $
$ $
Activities (1.0 1,254,000,000. 468,000,000. 1,038,000,000.0 252,000,0 645,000,000.0 (141,000,000. 306,000,000.00
786,000,000.00 5.25 (5.55) (7.33) 1,092,000,000.00 5.28
3) 00 00 0 00.00 0 00)
Investing $ $ $ $ $ $ $
$ $
Activities (476,000,000.0 (438,600,000. (321,000,000.00 (283,600, 268,000,000.0 305,400,000. 468,400,000.00
(37,400,000.00) 0.05 (1.99) 1.72 (3.05) 431,000,000.00 2.08
0) 00) ) 000.00) 0 00
$ $ $ $ $ $ $ $
$
Financing (1,511,000,000. (539,000,000.0 972,000,000. (904,000,000.00 607,000,0 (1,001,000,000 510,000,000. 195,000,000.00 (6.3
1.98 (2.26) 4.83 11.38 (1,316,000,000.00)
Activities 00) 0) 00 ) 00.00 .00) 00 6)

(762,400,000 239,000,00 (187,000,000 (88,000,000

.00) 0.00 .00) .00) 207,000,000.00

RETAINED EARNINGS (IN BILLIONS) YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

REBEG
RE IN
RE OUT
REEND
 RISKS

PURCHASING INTEREST CURRENCY

BUSINESS FINANCIAL LIQUIDITY TAX EVENT MARKET BETA REMARKS
POWER RATE EXCHANGE

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 RETURNS

MARKET PRICE TOTAL RETURN STANDARD DEVIATION OF RETURNS

(2)
(3) (4) (2) (3) (4)
(1) MARKET (1)
MARKET (3) - (2) (5) (6) AVERAGE (1) - (2) (3)2
DIVIDEND PRICE REMARKS YEAR (t) RETURN rt REMARKS
PRICE END CAPITAL (1) + (4) (5) / (2) RETURN rt (%) - (rt (%) - Ave
INCOME BEGINNING OF (%)
OF YEAR GAIN Ave rt (%) Ave rt (%) rt)2 (%)
YEAR
$ $ $ $ $ 2.21% -1.16%
2014
$ 0.86 152.61 126.28 (26.34) (25.48) (0.17) 3.26% 1.05%
2015 2.47% 1.05% 1.42% -0.37%
2016 6.67% 1.05% 5.62% -4.57%
2017 11.83% 1.05% 10.78% -9.73%
2018 11.83% 1.05% 10.78% -9.73%

COMPANY STOCK VALUATION

S1 S2 S3

FUTURE SALES FUTURE PROFITS FUTURE EPS FUTURE DIVIDENDS FUTURE STOCK PRICE MARKET PRICE REMARKS
 OTHER STOCK VALUATION MODELS

ZERO GROWTH CONSTANT GROWTH VARIABLE GROWTH

PV OF FUTURE PV OF THE
DIVIDENDS PRICE OF THE
CONSTANT
REQUIRED NEXT REQUIRED DURING THE STOCK AT THE
ANNUAL RATE OF
RATE OF RESULT REMARKS YEAR’S RATE OF RESULT REMARKS INITIAL END OF THE RESULT REMARKS
DIVIDENDS GROWTH IN
RETURN DIVIDEND RETURN VARIABLE VARIABLE
DIVIDENDS
GROWTH GROWTH
PERIOD PERIOD

DIVIDENDS AND EARNINGS APPROACH PRICE/EARNINGS APPROACH PRICE-TO-CASH-FLOW APPROACH

PV OF THE
MARKET
PRICE OF THE CASH
PV OF FUTURE PRICE OF
STOCK AT RESULT REMARKS EPS PE RATIO RESULT REMARKS FLOW PER RESULT REMARKS
DIVIDENDS COMMON
THE DATE OF SHARE
STOCK
SALE
 PRICE-TO-CASH-FLOW APPROACH PRICE-TO-SALE APPROACH PRICE-TO-BOOK- VALUE APPROACH

MARKET CASH MARKET MARKET BOOK

SALES
PRICE OF FLOW PRICE OF PRICE OF VALUE
RESULT REMARKS PER RESULT REMARKS RESULT REMARKS
COMMON PER COMMON COMMON PER
SHARE
STOCK SHARE STOCK STOCK SHARE