Stock Analysis on Net
Stock Analysis on Net

Walmart Inc. (NYSE:WMT)

デュポンの分析: ROE、ROA、純利益率の内訳 
四半期データ

Microsoft Excel

ROE分解では、純利益を株主資本で割ったものを構成比率の積として表します。

ROEを2つのコンポーネントに分解

Walmart Inc.、 ROE の分解(四半期データ)

Microsoft Excel
ROE = ROA × 財務レバレッジ比率
2025/01/31 21.36% = 7.45% × 2.87
2024/10/31 22.33% = 7.47% × 2.99
2024/07/31 18.42% = 6.11% × 3.01
2024/04/30 23.30% = 7.46% × 3.13
2024/01/31 18.50% = 6.15% × 3.01
2023/10/31 20.50% = 6.29% × 3.26
2023/07/31 17.65% = 5.50% × 3.21
2023/04/30 15.61% = 4.61% × 3.38
2023/01/31 15.23% = 4.80% × 3.17
2022/10/31 12.41% = 3.62% × 3.43
2022/07/31 17.88% = 5.61% × 3.19
2022/04/30 16.90% = 5.28% × 3.20
2022/01/31 16.42% = 5.58% × 2.94
2021/10/31 9.75% = 3.28% × 2.98
2021/07/31 12.48% = 4.21% × 2.96
2021/04/30 15.64% = 5.18% × 3.02
2021/01/31 16.69% = 5.35% × 3.12
2020/10/31 24.24% = 7.87% × 3.08
2020/07/31 23.76% = 7.54% × 3.15
2020/04/30 22.02% = 6.45% × 3.41
2020/01/31 19.93% = 6.29% × 3.17
2019/10/31 — = — × 3.35
2019/07/31 — = — × 3.34
2019/04/30 — = — × 3.44

レポートに基づく: 10-K (報告日: 2025-01-31), 10-Q (報告日: 2024-10-31), 10-Q (報告日: 2024-07-31), 10-Q (報告日: 2024-04-30), 10-K (報告日: 2024-01-31), 10-Q (報告日: 2023-10-31), 10-Q (報告日: 2023-07-31), 10-Q (報告日: 2023-04-30), 10-K (報告日: 2023-01-31), 10-Q (報告日: 2022-10-31), 10-Q (報告日: 2022-07-31), 10-Q (報告日: 2022-04-30), 10-K (報告日: 2022-01-31), 10-Q (報告日: 2021-10-31), 10-Q (報告日: 2021-07-31), 10-Q (報告日: 2021-04-30), 10-K (報告日: 2021-01-31), 10-Q (報告日: 2020-10-31), 10-Q (報告日: 2020-07-31), 10-Q (報告日: 2020-04-30), 10-K (報告日: 2020-01-31), 10-Q (報告日: 2019-10-31), 10-Q (報告日: 2019-07-31), 10-Q (報告日: 2019-04-30).

2025年第4 四半期に株主資本利益率(ROE)が低下した主な理由は、財務レバレッジ比率の低下です。

ROEを3つの要素に分解

Walmart Inc.、 ROE の分解(四半期データ)

Microsoft Excel
ROE = 純利益率 × 資産回転率 × 財務レバレッジ比率
2025/01/31 21.36% = 2.88% × 2.59 × 2.87
2024/10/31 22.33% = 2.95% × 2.53 × 2.99
2024/07/31 18.42% = 2.36% × 2.59 × 3.01
2024/04/30 23.30% = 2.91% × 2.56 × 3.13
2024/01/31 18.50% = 2.41% × 2.55 × 3.01
2023/10/31 20.50% = 2.57% × 2.44 × 3.26
2023/07/31 17.65% = 2.24% × 2.45 × 3.21
2023/04/30 15.61% = 1.83% × 2.52 × 3.38
2023/01/31 15.23% = 1.93% × 2.49 × 3.17
2022/10/31 12.41% = 1.51% × 2.40 × 3.43
2022/07/31 17.88% = 2.38% × 2.36 × 3.19
2022/04/30 16.90% = 2.28% × 2.32 × 3.20
2022/01/31 16.42% = 2.41% × 2.32 × 2.94
2021/10/31 9.75% = 1.41% × 2.32 × 2.98
2021/07/31 12.48% = 1.79% × 2.35 × 2.96
2021/04/30 15.64% = 2.19% × 2.36 × 3.02
2021/01/31 16.69% = 2.43% × 2.20 × 3.12
2020/10/31 24.24% = 3.62% × 2.17 × 3.08
2020/07/31 23.76% = 3.33% × 2.27 × 3.15
2020/04/30 22.02% = 2.83% × 2.28 × 3.41
2020/01/31 19.93% = 2.86% × 2.20 × 3.17
2019/10/31 — = — × — × 3.35
2019/07/31 — = — × — × 3.34
2019/04/30 — = — × — × 3.44

レポートに基づく: 10-K (報告日: 2025-01-31), 10-Q (報告日: 2024-10-31), 10-Q (報告日: 2024-07-31), 10-Q (報告日: 2024-04-30), 10-K (報告日: 2024-01-31), 10-Q (報告日: 2023-10-31), 10-Q (報告日: 2023-07-31), 10-Q (報告日: 2023-04-30), 10-K (報告日: 2023-01-31), 10-Q (報告日: 2022-10-31), 10-Q (報告日: 2022-07-31), 10-Q (報告日: 2022-04-30), 10-K (報告日: 2022-01-31), 10-Q (報告日: 2021-10-31), 10-Q (報告日: 2021-07-31), 10-Q (報告日: 2021-04-30), 10-K (報告日: 2021-01-31), 10-Q (報告日: 2020-10-31), 10-Q (報告日: 2020-07-31), 10-Q (報告日: 2020-04-30), 10-K (報告日: 2020-01-31), 10-Q (報告日: 2019-10-31), 10-Q (報告日: 2019-07-31), 10-Q (報告日: 2019-04-30).

2025年第4 四半期に株主資本利益率(ROE)が低下した主な理由は、財務レバレッジ比率の低下です。

ROEを5つの要素に分解

Walmart Inc.、 ROE の分解(四半期データ)

Microsoft Excel
ROE = 税負担 × 利息負担 × EBITマージン × 資産回転率 × 財務レバレッジ比率
2025/01/31 21.36% = 0.76 × 0.90 × 4.20% × 2.59 × 2.87
2024/10/31 22.33% = 0.75 × 0.91 × 4.32% × 2.53 × 2.99
2024/07/31 18.42% = 0.74 × 0.88 × 3.59% × 2.59 × 3.01
2024/04/30 23.30% = 0.74 × 0.90 × 4.33% × 2.56 × 3.13
2024/01/31 18.50% = 0.74 × 0.89 × 3.70% × 2.55 × 3.01
2023/10/31 20.50% = 0.70 × 0.90 × 4.06% × 2.44 × 3.26
2023/07/31 17.65% = 0.67 × 0.89 × 3.75% × 2.45 × 3.21
2023/04/30 15.61% = 0.66 × 0.88 × 3.14% × 2.52 × 3.38
2023/01/31 15.23% = 0.67 × 0.89 × 3.22% × 2.49 × 3.17
2022/10/31 12.41% = 0.70 × 0.87 × 2.47% × 2.40 × 3.43
2022/07/31 17.88% = 0.76 × 0.91 × 3.46% × 2.36 × 3.19
2022/04/30 16.90% = 0.74 × 0.90 × 3.40% × 2.32 × 3.20
2022/01/31 16.42% = 0.74 × 0.90 × 3.60% × 2.32 × 2.94
2021/10/31 9.75% = 0.61 × 0.86 × 2.67% × 2.32 × 2.98
2021/07/31 12.48% = 0.63 × 0.88 × 3.23% × 2.35 × 2.96
2021/04/30 15.64% = 0.65 × 0.89 × 3.78% × 2.36 × 3.02
2021/01/31 16.69% = 0.66 × 0.90 × 4.09% × 2.20 × 3.12
2020/10/31 24.24% = 0.74 × 0.92 × 5.32% × 2.17 × 3.08
2020/07/31 23.76% = 0.75 × 0.90 × 4.90% × 2.27 × 3.15
2020/04/30 22.02% = 0.75 × 0.89 × 4.25% × 2.28 × 3.41
2020/01/31 19.93% = 0.75 × 0.88 × 4.31% × 2.20 × 3.17
2019/10/31 — = — × — × — × — × 3.35
2019/07/31 — = — × — × — × — × 3.34
2019/04/30 — = — × — × — × — × 3.44

レポートに基づく: 10-K (報告日: 2025-01-31), 10-Q (報告日: 2024-10-31), 10-Q (報告日: 2024-07-31), 10-Q (報告日: 2024-04-30), 10-K (報告日: 2024-01-31), 10-Q (報告日: 2023-10-31), 10-Q (報告日: 2023-07-31), 10-Q (報告日: 2023-04-30), 10-K (報告日: 2023-01-31), 10-Q (報告日: 2022-10-31), 10-Q (報告日: 2022-07-31), 10-Q (報告日: 2022-04-30), 10-K (報告日: 2022-01-31), 10-Q (報告日: 2021-10-31), 10-Q (報告日: 2021-07-31), 10-Q (報告日: 2021-04-30), 10-K (報告日: 2021-01-31), 10-Q (報告日: 2020-10-31), 10-Q (報告日: 2020-07-31), 10-Q (報告日: 2020-04-30), 10-K (報告日: 2020-01-31), 10-Q (報告日: 2019-10-31), 10-Q (報告日: 2019-07-31), 10-Q (報告日: 2019-04-30).

2025年第4 四半期に株主資本利益率(ROE)が低下した主な理由は、財務レバレッジ比率の低下です。

ROAを2つのコンポーネントに分解

Walmart Inc.、 ROA の分解(四半期データ)

Microsoft Excel
ROA = 純利益率 × 資産回転率
2025/01/31 7.45% = 2.88% × 2.59
2024/10/31 7.47% = 2.95% × 2.53
2024/07/31 6.11% = 2.36% × 2.59
2024/04/30 7.46% = 2.91% × 2.56
2024/01/31 6.15% = 2.41% × 2.55
2023/10/31 6.29% = 2.57% × 2.44
2023/07/31 5.50% = 2.24% × 2.45
2023/04/30 4.61% = 1.83% × 2.52
2023/01/31 4.80% = 1.93% × 2.49
2022/10/31 3.62% = 1.51% × 2.40
2022/07/31 5.61% = 2.38% × 2.36
2022/04/30 5.28% = 2.28% × 2.32
2022/01/31 5.58% = 2.41% × 2.32
2021/10/31 3.28% = 1.41% × 2.32
2021/07/31 4.21% = 1.79% × 2.35
2021/04/30 5.18% = 2.19% × 2.36
2021/01/31 5.35% = 2.43% × 2.20
2020/10/31 7.87% = 3.62% × 2.17
2020/07/31 7.54% = 3.33% × 2.27
2020/04/30 6.45% = 2.83% × 2.28
2020/01/31 6.29% = 2.86% × 2.20
2019/10/31 — = — × —
2019/07/31 — = — × —
2019/04/30 — = — × —

レポートに基づく: 10-K (報告日: 2025-01-31), 10-Q (報告日: 2024-10-31), 10-Q (報告日: 2024-07-31), 10-Q (報告日: 2024-04-30), 10-K (報告日: 2024-01-31), 10-Q (報告日: 2023-10-31), 10-Q (報告日: 2023-07-31), 10-Q (報告日: 2023-04-30), 10-K (報告日: 2023-01-31), 10-Q (報告日: 2022-10-31), 10-Q (報告日: 2022-07-31), 10-Q (報告日: 2022-04-30), 10-K (報告日: 2022-01-31), 10-Q (報告日: 2021-10-31), 10-Q (報告日: 2021-07-31), 10-Q (報告日: 2021-04-30), 10-K (報告日: 2021-01-31), 10-Q (報告日: 2020-10-31), 10-Q (報告日: 2020-07-31), 10-Q (報告日: 2020-04-30), 10-K (報告日: 2020-01-31), 10-Q (報告日: 2019-10-31), 10-Q (報告日: 2019-07-31), 10-Q (報告日: 2019-04-30).

2025年第4 四半期に総資産利益率(ROA)が低下した主な理由は、純利益率で測定した収益性の低下です。

ROAを4つの要素に分解

Walmart Inc.、 ROA の分解(四半期データ)

Microsoft Excel
ROA = 税負担 × 利息負担 × EBITマージン × 資産回転率
2025/01/31 7.45% = 0.76 × 0.90 × 4.20% × 2.59
2024/10/31 7.47% = 0.75 × 0.91 × 4.32% × 2.53
2024/07/31 6.11% = 0.74 × 0.88 × 3.59% × 2.59
2024/04/30 7.46% = 0.74 × 0.90 × 4.33% × 2.56
2024/01/31 6.15% = 0.74 × 0.89 × 3.70% × 2.55
2023/10/31 6.29% = 0.70 × 0.90 × 4.06% × 2.44
2023/07/31 5.50% = 0.67 × 0.89 × 3.75% × 2.45
2023/04/30 4.61% = 0.66 × 0.88 × 3.14% × 2.52
2023/01/31 4.80% = 0.67 × 0.89 × 3.22% × 2.49
2022/10/31 3.62% = 0.70 × 0.87 × 2.47% × 2.40
2022/07/31 5.61% = 0.76 × 0.91 × 3.46% × 2.36
2022/04/30 5.28% = 0.74 × 0.90 × 3.40% × 2.32
2022/01/31 5.58% = 0.74 × 0.90 × 3.60% × 2.32
2021/10/31 3.28% = 0.61 × 0.86 × 2.67% × 2.32
2021/07/31 4.21% = 0.63 × 0.88 × 3.23% × 2.35
2021/04/30 5.18% = 0.65 × 0.89 × 3.78% × 2.36
2021/01/31 5.35% = 0.66 × 0.90 × 4.09% × 2.20
2020/10/31 7.87% = 0.74 × 0.92 × 5.32% × 2.17
2020/07/31 7.54% = 0.75 × 0.90 × 4.90% × 2.27
2020/04/30 6.45% = 0.75 × 0.89 × 4.25% × 2.28
2020/01/31 6.29% = 0.75 × 0.88 × 4.31% × 2.20
2019/10/31 — = — × — × — × —
2019/07/31 — = — × — × — × —
2019/04/30 — = — × — × — × —

レポートに基づく: 10-K (報告日: 2025-01-31), 10-Q (報告日: 2024-10-31), 10-Q (報告日: 2024-07-31), 10-Q (報告日: 2024-04-30), 10-K (報告日: 2024-01-31), 10-Q (報告日: 2023-10-31), 10-Q (報告日: 2023-07-31), 10-Q (報告日: 2023-04-30), 10-K (報告日: 2023-01-31), 10-Q (報告日: 2022-10-31), 10-Q (報告日: 2022-07-31), 10-Q (報告日: 2022-04-30), 10-K (報告日: 2022-01-31), 10-Q (報告日: 2021-10-31), 10-Q (報告日: 2021-07-31), 10-Q (報告日: 2021-04-30), 10-K (報告日: 2021-01-31), 10-Q (報告日: 2020-10-31), 10-Q (報告日: 2020-07-31), 10-Q (報告日: 2020-04-30), 10-K (報告日: 2020-01-31), 10-Q (報告日: 2019-10-31), 10-Q (報告日: 2019-07-31), 10-Q (報告日: 2019-04-30).

2025年第4 四半期に総資産利益率(ROA)が低下した主な理由は、EBITマージン率で測定した営業利益率の低下です。

当期純利益率の分解

Walmart Inc.、純利益率の分解(四半期データ)

Microsoft Excel
純利益率 = 税負担 × 利息負担 × EBITマージン
2025/01/31 2.88% = 0.76 × 0.90 × 4.20%
2024/10/31 2.95% = 0.75 × 0.91 × 4.32%
2024/07/31 2.36% = 0.74 × 0.88 × 3.59%
2024/04/30 2.91% = 0.74 × 0.90 × 4.33%
2024/01/31 2.41% = 0.74 × 0.89 × 3.70%
2023/10/31 2.57% = 0.70 × 0.90 × 4.06%
2023/07/31 2.24% = 0.67 × 0.89 × 3.75%
2023/04/30 1.83% = 0.66 × 0.88 × 3.14%
2023/01/31 1.93% = 0.67 × 0.89 × 3.22%
2022/10/31 1.51% = 0.70 × 0.87 × 2.47%
2022/07/31 2.38% = 0.76 × 0.91 × 3.46%
2022/04/30 2.28% = 0.74 × 0.90 × 3.40%
2022/01/31 2.41% = 0.74 × 0.90 × 3.60%
2021/10/31 1.41% = 0.61 × 0.86 × 2.67%
2021/07/31 1.79% = 0.63 × 0.88 × 3.23%
2021/04/30 2.19% = 0.65 × 0.89 × 3.78%
2021/01/31 2.43% = 0.66 × 0.90 × 4.09%
2020/10/31 3.62% = 0.74 × 0.92 × 5.32%
2020/07/31 3.33% = 0.75 × 0.90 × 4.90%
2020/04/30 2.83% = 0.75 × 0.89 × 4.25%
2020/01/31 2.86% = 0.75 × 0.88 × 4.31%
2019/10/31 — = — × — × —
2019/07/31 — = — × — × —
2019/04/30 — = — × — × —

レポートに基づく: 10-K (報告日: 2025-01-31), 10-Q (報告日: 2024-10-31), 10-Q (報告日: 2024-07-31), 10-Q (報告日: 2024-04-30), 10-K (報告日: 2024-01-31), 10-Q (報告日: 2023-10-31), 10-Q (報告日: 2023-07-31), 10-Q (報告日: 2023-04-30), 10-K (報告日: 2023-01-31), 10-Q (報告日: 2022-10-31), 10-Q (報告日: 2022-07-31), 10-Q (報告日: 2022-04-30), 10-K (報告日: 2022-01-31), 10-Q (報告日: 2021-10-31), 10-Q (報告日: 2021-07-31), 10-Q (報告日: 2021-04-30), 10-K (報告日: 2021-01-31), 10-Q (報告日: 2020-10-31), 10-Q (報告日: 2020-07-31), 10-Q (報告日: 2020-04-30), 10-K (報告日: 2020-01-31), 10-Q (報告日: 2019-10-31), 10-Q (報告日: 2019-07-31), 10-Q (報告日: 2019-04-30).

2025年第4 四半期から純利益率が低下した主な理由は、EBITマージン率で測定した営業利益率の低下です。