Walmart Valuation
Valuation Report
WAL-MART STORES, INC.
Table of Contents
Legal Disclaimer i
Executive Summary 1
1 Company Overview 1
2 Valuation Methods Used 1
3 Fundamental Valuation 1
4 Market Valuation 1
5 Liquidation Value 1
Appendix 1
* Legal Disclaimer
This valuation is subject to the following assumptions and limiting conditions: 1. Information, estimates, and opinions contained in this report are obtained from sources considered to be reliable. However, we assume no liability for such sources.
2. Wal-Mart Stores, Inc. and its representatives warranted to us that the information they supplied was complete and accurate to the best of their knowledge and that the financial statement information reflects Wal-Mart Stores, Inc.’s results of operations and financial condition in accordance with generally accepted accounting principles, unless otherwise noted. Information supplied by management has been accepted as correct without further verification, (and we express no opinion on that information). 3. Possession of this report, or a copy thereof, does not carry with it the right of publication of all or part of it, nor may it be used for any purpose by anyone but the client without the previous written consent of the client or us and, in any event, only with proper attribution.
4. We are not required to give testimony in court, or be in attendance during any hearings or depositions, with reference to Wal-Mart Stores, Inc. being valued, unless previous arrangements have been made.
5. The various estimates of value presented in this report apply to this valuation only and may not be used out of the context presented herein. This valuation is valid only for the purpose or purposes specified herein.
6. The valuation contemplates facts and conditions existing as of the valuation date, 13th February 2013. Events and conditions occurring after that date have not been considered, and we have no obligation to update our report for such events
WAL-MART STORES, INC.
Table of Contents
Legal Disclaimer i
Executive Summary 1
1 Company Overview 1
2 Valuation Methods Used 1
3 Fundamental Valuation 1
4 Market Valuation 1
5 Liquidation Value 1
Appendix 1
* Legal Disclaimer
This valuation is subject to the following assumptions and limiting conditions: 1. Information, estimates, and opinions contained in this report are obtained from sources considered to be reliable. However, we assume no liability for such sources.
2. Wal-Mart Stores, Inc. and its representatives warranted to us that the information they supplied was complete and accurate to the best of their knowledge and that the financial statement information reflects Wal-Mart Stores, Inc.’s results of operations and financial condition in accordance with generally accepted accounting principles, unless otherwise noted. Information supplied by management has been accepted as correct without further verification, (and we express no opinion on that information). 3. Possession of this report, or a copy thereof, does not carry with it the right of publication of all or part of it, nor may it be used for any purpose by anyone but the client without the previous written consent of the client or us and, in any event, only with proper attribution.
4. We are not required to give testimony in court, or be in attendance during any hearings or depositions, with reference to Wal-Mart Stores, Inc. being valued, unless previous arrangements have been made.
5. The various estimates of value presented in this report apply to this valuation only and may not be used out of the context presented herein. This valuation is valid only for the purpose or purposes specified herein.
6. The valuation contemplates facts and conditions existing as of the valuation date, 13th February 2013. Events and conditions occurring after that date have not been considered, and we have no obligation to update our report for such events