Walgreens Boots Alliance (WBA) Financials

$10.97 +0.04 (+0.37%)

As of 04:00 PM Eastern

Annual Income Statements for Walgreens Boots Alliance

This table shows Walgreens Boots Alliance's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	4,220	4,173	4,078	5,024	3,982	456	2,542	4,337	-3,080	-8,636
Consolidated Net Income / (Loss)	4,279	4,191	4,101	5,031	3,962	424	2,512	4,065	-3,528	-15,448
Net Income / (Loss) Continuing Operations	4,279	4,191	4,101	5,031	3,790	138	1,955	4,065	-3,528	-15,448
Total Pre-Tax Income	5,311	5,144	4,853	5,975	4,359	446	1,995	3,985	-5,419	-14,219
Total Operating Income	4,668	6,001	5,484	6,289	4,766	982	2,342	1,387	-6,882	-14,076
Total Gross Profit	26,753	29,874	29,162	30,792	28,159	26,078	28,067	28,265	27,072	26,524
Total Revenue	103,444	117,351	118,214	131,537	120,074	121,982	132,509	132,703	139,081	147,658
Operating Revenue	103,444	117,351	118,214	131,537	120,074	121,982	132,509	132,703	139,081	147,658
Total Cost of Revenue	76,691	87,477	89,052	100,745	91,915	95,905	104,442	104,437	112,009	121,134
Operating Cost of Revenue	76,691	87,477	89,052	100,745	91,915	95,905	104,442	104,437	112,009	121,134
Total Operating Expenses	22,085	23,873	23,678	24,503	23,393	25,095	25,725	26,877	33,953	40,601
Selling, General & Admin Expense	22,400	23,910	23,813	24,694	23,557	25,436	24,586	27,295	34,205	28,113
Other Operating Expenses / (Income)	-315	-37	-135	-191	-164	-341	1,139	-418	-252	-213
Impairment Charge	-	-	-	-	-	-	-	0.00	0.00	12,701
Total Other Income / (Expense), net	643	-857	-631	-314	-407	-536	-347	2,598	1,463	-142
Interest Expense	605	596	693	616	650	613	905	400	580	482
Other Income / (Expense), net	685	-261	62	302	243	77	558	2,998	2,043	340
Income Tax Expense	1,056	997	760	998	577	339	667	-30	-1,858	1,246
Other Gains / (Losses), net	24	44	8.00	54	8.00	31	627	50	33	17
Net Income / (Loss) Attributable to Noncontrolling Interest	59	18	23	7.00	-20	-33	-30	-271	-448	-6,812
Basic Earnings per Share	$4.05	$3.85	$3.80	$5.07	$8.46	$0.52	$2.94	$5.02	($3.57)	($10.01)
Weighted Average Basic Shares Outstanding	1.04B	1.08B	1.07B	991M	921.50M	879.40M	864.80M	864.40M	863.20M	863.10M
Diluted Earnings per Share	$4.00	$3.82	$3.78	$5.05	$8.44	$0.52	$2.93	$5.01	($3.57)	($10.01)
Weighted Average Diluted Shares Outstanding	1.05B	1.09B	1.08B	995M	923.50M	880.30M	866.40M	865.90M	863.20M	863.10M
Weighted Average Basic & Diluted Shares Outstanding	1.04B	1.08B	1.07B	990.90M	892.54M	865.92M	865.61M	864.81M	863.91M	864.62M
Cash Dividends to Common per Share	$1.37	$1.46	$1.53	$1.64	$1.78	$1.84	$1.88	$1.91	$1.92	$1.23

This table shows Walgreens Boots Alliance's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Net Income / (Loss) Attributable to Common Shareholders	-415	-3,721	703	118	-180	-67	-5,908	344	-3,005	-265	-2,853
Consolidated Net Income / (Loss)	-501	-3,816	544	-48	-208	-278	-12,322	230	-3,078	-605	-4,035
Net Income / (Loss) Continuing Operations	-497	-3,823	537	-52	-190	-278	-12,332	230	-3,062	-605	-4,034
Total Pre-Tax Income	-758	-5,270	607	-382	-374	-358	-13,114	251	-998	-538	-4,246
Total Operating Income	-822	-6,151	197	-477	-451	-39	-13,171	111	-977	-245	-5,567
Total Gross Profit	6,411	6,953	7,055	6,588	6,476	6,771	7,041	6,460	6,252	6,779	6,935
Total Revenue	32,449	33,382	34,862	35,415	35,422	36,707	37,052	36,351	37,548	39,459	38,588
Operating Revenue	32,449	33,382	34,862	35,415	35,422	36,707	37,052	36,351	37,548	39,459	38,588
Total Cost of Revenue	26,039	26,429	27,807	28,826	28,947	29,937	30,012	29,892	31,293	32,680	31,654
Operating Cost of Revenue	26,039	26,429	27,807	28,826	28,947	29,937	30,012	29,892	31,293	32,680	31,654
Total Operating Expenses	7,232	13,105	6,859	7,065	6,924	6,809	20,211	6,349	7,232	7,024	12,502
Selling, General & Admin Expense	7,320	13,158	6,934	7,123	6,990	6,851	7,921	6,393	6,948	7,015	8,891
Other Operating Expenses / (Income)	-88	-53	-75	-58	-66	-42	-79	-44	-48	9.00	-42
Impairment Charge	-	-	0.00	0.00	-	-	12,369	0.00	-	-	3,653
Total Other Income / (Expense), net	63	882	411	95	75	-319	57	141	-21	-293	1,321
Interest Expense	106	110	141	173	156	99	138	113	132	122	129
Other Income / (Expense), net	169	992	552	268	231	-220	195	254	111	-171	1,450
Income Tax Expense	-235	-1,447	70	-330	-151	-74	-782	20	2,082	66	-212
Other Adjustments to Consolidated Net Income / (Loss)	-	7.00	6.00	4.00	-	-	10	-	-	-	-2.00
Net Income / (Loss) Attributable to Noncontrolling Interest	-85	-94	-159	-166	-29	-210	-6,415	-114	-73	-340	-1,182
Basic Earnings per Share	($0.46)	($4.31)	$0.81	$0.14	($0.21)	($0.08)	($6.85)	$0.40	($3.48)	($0.31)	($3.30)
Weighted Average Basic Shares Outstanding	864.40M	863.60M	862.60M	863.10M	863.20M	863M	862.50M	863.10M	863.10M	863.80M	864.10M
Diluted Earnings per Share	($0.47)	($4.31)	$0.81	$0.14	($0.21)	($0.08)	($6.85)	$0.40	($3.48)	($0.31)	($3.30)
Weighted Average Diluted Shares Outstanding	865.90M	863.60M	863.40M	863.80M	863.20M	863M	862.50M	864.30M	863.10M	863.80M	864.10M
Weighted Average Basic & Diluted Shares Outstanding	864.81M	862.50M	862.80M	863.26M	863.91M	862.38M	862.71M	863.28M	864.62M	864.15M	864.74M

This table details how cash moves in and out of Walgreens Boots Alliance's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	5,497	6,807	-6,522	-2,522	231	-460	525	1,289	-1,703	2,362
Net Cash From Operating Activities	6,227	7,847	7,255	8,263	5,594	5,484	5,555	3,899	2,258	1,018
Net Cash From Continuing Operating Activities	6,227	7,847	7,255	8,264	5,594	5,484	5,555	3,899	2,258	1,017
Net Income / (Loss) Continuing Operations	4,279	4,191	4,101	5,031	3,962	424	2,512	4,065	-3,528	-15,448
Consolidated Net Income / (Loss)	4,279	4,191	4,101	5,031	3,962	424	2,512	4,065	-3,528	-15,448
Depreciation Expense	1,742	1,718	1,654	1,770	2,038	1,927	1,973	1,990	2,257	2,459
Non-Cash Adjustments To Reconcile Net Income	522	182	312	-155	234	2,235	409	-2,285	-1,544	13,575
Changes in Operating Assets and Liabilities, net	463	1,240	1,188	1,618	-640	898	661	129	5,073	431
Net Cash From Investing Activities	185	-3,517	-843	-5,501	-2,307	-1,297	4,072	-1,064	-3,094	1,878
Net Cash From Continuing Investing Activities	185	-3,517	-843	-5,501	-2,307	-1,297	4,072	-1,065	-3,093	1,878
Purchase of Property, Plant & Equipment	-1,251	-1,325	-1,351	-1,367	-1,702	-1,374	-1,379	-1,734	-2,117	-1,381
Acquisitions	-371	-126	-88	-4,793	-741	-718	-1,431	-2,189	-7,313	-402
Sale of Property, Plant & Equipment	184	155	59	655	117	90	453	1,334	4,495	2,860
Other Investing Activities, net	-58	5.00	93	4.00	19	705	902	1,524	1,842	801
Net Cash From Financing Activities	-915	2,606	-12,934	-5,295	-3,047	-4,647	-9,036	-1,499	-887	-538
Net Cash From Continuing Financing Activities	-915	2,606	-12,934	-5,295	-3,046	-4,646	-9,036	-1,499	-886	-537
Repayment of Debt	-10,867	-934	-6,241	-4,988	-10,461	-21,571	-19,185	-9,492	-9,329	-30,995
Repurchase of Common Equity	-1,226	-1,152	-5,220	-5,228	-4,160	-1,589	-110	-2,295	-1,466	-69
Payment of Dividends	-1,384	-1,563	-1,723	-1,739	-1,643	-1,747	-1,617	-1,659	-1,659	-1,260
Issuance of Debt	12,059	6,020	33	6,486	13,044	20,206	11,817	11,947	6,275	31,363
Issuance of Common Equity	503	235	217	174	174	55	59	0.00	2,725	0.00
Other Financing Activities, net	-	-	-	-	-	-	0.00	0.00	2,568	424
Effect of Exchange Rate Changes	-	-129	-	11	-9.00	-	-	-47	20	4.00

This table details how cash moves in and out of Walgreens Boots Alliance's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Net Change in Cash & Equivalents	-1,982	1,756	-2,322	-875	-262	-10	-132	25	2,479	-1,909	-69
Net Cash From Operating Activities	86	493	746	-20	1,039	-281	-637	604	1,332	-140	-199
Net Cash From Continuing Operating Activities	87	492	746	-19	1,039	-282	-637	605	1,331	-141	-200
Net Income / (Loss) Continuing Operations	-501	-3,816	544	-48	-208	-278	-12,322	230	-3,078	-605	-4,035
Consolidated Net Income / (Loss)	-501	-3,816	544	-48	-208	-278	-12,322	230	-3,078	-605	-4,035
Depreciation Expense	488	495	560	597	605	616	614	607	622	625	611
Non-Cash Adjustments To Reconcile Net Income	767	-937	-800	80	113	270	13,032	-253	526	510	3,933
Changes in Operating Assets and Liabilities, net	-667	4,750	442	-648	529	-890	-1,961	21	3,261	-671	-709
Net Cash From Investing Activities	198	1,858	-5,441	334	155	85	817	204	772	-76	418
Net Cash From Continuing Investing Activities	198	1,857	-5,441	336	155	85	817	203	773	-76	417
Purchase of Property, Plant & Equipment	-493	-610	-498	-525	-484	-506	-352	-277	-246	-284	-219
Acquisitions	-149	-80	-6,733	-259	-241	-109	-119	22	-196	-18	-7.00
Sale of Property, Plant & Equipment	358	2,068	1,193	537	697	304	1,007	415	1,134	164	605
Other Investing Activities, net	482	479	597	583	183	396	281	43	81	62	38
Net Cash From Financing Activities	-2,252	-599	2,365	-1,193	-1,460	186	-313	-785	374	-1,685	-288
Net Cash From Continuing Financing Activities	-2,252	-600	2,366	-1,193	-1,459	186	-312	-786	375	-1,686	-287
Repayment of Debt	-1,844	-74	-1,509	-3,900	-3,846	-3,735	-11,345	-8,216	-7,699	-4,675	-11,398
Payment of Dividends	-408	-415	-414	-415	-415	-415	-413	-216	-216	-216	-216
Issuance of Debt	13	39	2,805	2,543	888	3,981	11,446	7,646	8,290	3,241	11,327

This table presents Walgreens Boots Alliance's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	68,782	72,688	66,009	68,124	67,598	87,174	81,285	90,124	96,628	81,037
Total Current Assets	19,657	25,883	19,753	17,846	18,700	18,073	15,814	16,902	15,503	18,335
Cash & Equivalents	3,000	9,807	3,301	785	1,023	469	559	1,358	728	1,319
Short-Term Investments	-	-	-	-	-	-	634	1,114	11	1,790
Accounts Receivable	6,849	6,260	6,528	6,573	7,226	4,110	5,663	5,017	5,381	5,851
Inventories, net	8,678	8,956	8,899	9,565	9,333	7,917	8,159	8,353	8,257	8,320
Other Current Assets	1,130	860	1,025	923	1,118	598	800	1,059	1,127	1,055
Plant, Property, & Equipment, net	15,068	14,335	13,642	13,911	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	49,125	46,805	46,256	36,367	48,898	69,102	65,471	73,222	81,125	62,702
Long-Term Investments	1,242	6,174	6,320	6,610	6,851	7,204	6,987	5,495	3,497	2,269
Goodwill	16,372	15,527	15,632	16,914	16,560	12,013	12,421	22,280	28,187	15,506
Intangible Assets	12,351	10,302	10,156	11,783	10,876	10,072	9,936	10,730	13,635	12,973
Other Noncurrent Operating Assets	4,092	467	506	1,060	14,611	34,830	36,127	34,718	35,804	31,953
Total Liabilities & Shareholders' Equity	68,782	72,688	66,009	68,124	67,598	87,174	81,285	90,124	96,628	81,037
Total Liabilities	37,482	42,407	37,735	41,435	43,447	66,038	57,145	59,717	68,140	68,858
Total Current Liabilities	16,557	17,013	18,547	21,667	25,769	27,070	22,054	22,583	24,535	26,953
Short-Term Debt	1,068	323	251	1,966	5,738	3,265	1,305	1,059	917	1,505
Accounts Payable	10,088	11,000	12,494	13,566	14,341	10,145	11,136	11,255	12,635	14,082
Accrued Expenses	5,225	5,484	5,473	5,862	5,474	5,861	7,260	7,899	8,426	8,673
Current Deferred & Payable Income Tax Liabilities	176	206	329	273	216	95	94	84	209	312
Other Current Liabilities	-	-	-	-	0.00	2,358	2,259	2,286	2,347	2,382
Total Noncurrent Liabilities	20,925	25,394	19,188	19,768	17,678	38,969	35,091	37,134	43,605	41,905
Long-Term Debt	13,315	18,705	12,684	12,431	11,098	12,203	7,675	10,615	8,145	8,044
Asset Retirement Reserve & Litigation Obligation	-	-	-	-	-	-	-	551	6,261	6,008
Noncurrent Deferred & Payable Income Tax Liabilities	3,538	2,644	2,281	1,815	1,785	1,367	1,850	1,442	1,318	1,195
Other Noncurrent Operating Liabilities	4,072	4,045	4,223	5,522	4,795	24,987	25,566	24,526	27,881	26,657
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	0.00	319	1,042	167	174
Total Equity & Noncontrolling Interests	31,300	30,281	28,274	26,689	24,152	21,136	23,822	29,366	28,322	12,005
Total Preferred & Common Equity	30,861	29,880	27,466	26,007	23,512	20,637	23,419	25,275	20,020	10,445
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	30,861	29,880	27,466	26,007	23,512	20,637	23,419	25,275	20,021	10,446
Common Stock	9,965	10,123	10,351	10,505	10,651	10,773	11,000	10,962	10,673	10,657
Retained Earnings	25,089	27,684	30,137	33,551	35,815	34,210	35,121	37,801	33,058	23,348
Treasury Stock	-3,977	-4,934	-9,971	-15,047	-19,057	-20,575	-20,593	-20,683	-20,717	-20,662
Accumulated Other Comprehensive Income / (Loss)	-214	-2,992	-3,051	-3,002	-3,897	-3,771	-2,109	-2,805	-2,993	-2,897
Noncontrolling Interest	439	401	808	682	641	498	402	4,091	8,302	1,561

This table presents Walgreens Boots Alliance's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Total Assets	90,124	92,875	100,479	98,605	96,628	97,823	84,207	82,985	81,037	78,536	70,216
Total Current Assets	16,902	19,523	17,689	16,542	15,503	17,345	16,561	16,337	18,335	17,478	16,237
Cash & Equivalents	1,358	2,349	1,088	871	728	784	668	703	1,319	859	702
Short-Term Investments	1,114	1,883	752	99	11	-	-	-	1,790	332	430
Accounts Receivable	5,017	4,853	5,730	5,843	5,381	5,972	6,200	5,949	5,851	6,191	5,940
Inventories, net	8,353	9,322	8,757	8,164	8,257	9,454	8,557	8,578	8,320	9,119	7,845
Other Current Assets	1,059	1,115	1,362	1,565	1,127	1,134	1,136	1,107	1,055	977	1,319
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	73,222	73,352	82,790	82,063	81,125	80,478	67,646	66,648	62,702	61,058	53,979
Long-Term Investments	5,495	4,426	4,069	3,527	3,497	3,400	3,256	2,961	2,269	2,172	1,380
Goodwill	22,280	22,582	28,343	28,371	28,187	28,184	15,814	15,821	15,506	15,453	11,803
Intangible Assets	10,730	10,612	13,864	13,578	13,635	13,278	12,984	12,836	12,973	12,557	10,717
Other Noncurrent Operating Assets	34,718	35,732	36,513	36,586	35,804	35,616	35,591	35,031	31,953	30,876	30,080
Total Liabilities & Shareholders' Equity	90,124	92,875	100,479	98,605	96,628	97,823	84,207	82,985	81,037	78,536	70,216
Total Liabilities	59,717	68,137	70,882	69,086	68,140	70,066	68,843	67,555	68,858	67,266	62,960
Total Current Liabilities	22,583	28,036	28,228	26,170	24,535	26,116	24,915	25,034	26,953	27,453	26,585
Short-Term Debt	1,059	3,938	4,222	3,061	917	1,670	1,937	1,506	1,505	446	1,406
Accounts Payable	11,255	12,184	12,720	12,029	12,635	13,593	12,775	13,100	14,082	14,551	13,354
Accrued Expenses	7,899	9,534	8,822	8,578	8,426	8,226	7,522	7,753	8,673	9,675	9,245
Current Deferred & Payable Income Tax Liabilities	84	109	124	146	209	276	342	292	312	392	185
Other Current Liabilities	2,286	2,271	2,340	2,356	2,347	2,350	2,339	2,384	2,382	2,389	2,394
Total Noncurrent Liabilities	37,134	40,101	42,654	42,915	43,605	43,951	43,928	42,521	41,905	39,813	36,375
Long-Term Debt	10,615	7,789	8,820	8,841	8,145	7,585	7,535	7,407	8,044	7,611	6,609
Asset Retirement Reserve & Litigation Obligation	551	6,427	6,365	6,407	6,261	6,366	6,123	5,890	6,008	5,982	5,757
Noncurrent Deferred & Payable Income Tax Liabilities	1,442	1,319	2,081	1,657	1,318	1,279	1,238	1,221	1,195	1,119	1,114
Other Noncurrent Operating Liabilities	24,526	24,566	25,388	26,010	27,881	28,721	29,032	28,003	26,657	25,101	22,895
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	1,042	157	158	160	167	169	172	173	174	106	104
Total Equity & Noncontrolling Interests	29,366	24,582	29,439	29,359	28,322	27,588	15,192	15,257	12,005	11,165	7,153
Total Preferred & Common Equity	25,275	20,576	21,192	21,063	20,020	19,481	13,484	13,642	10,445	9,939	7,110
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	25,275	20,576	21,192	21,063	20,021	19,482	13,485	13,642	10,446	9,940	7,110
Common Stock	10,962	10,489	10,641	10,679	10,673	10,629	10,639	10,651	10,657	10,594	10,581
Retained Earnings	37,801	33,664	33,952	33,654	33,058	32,573	26,448	26,571	23,348	22,861	20,007
Treasury Stock	-20,683	-20,762	-20,747	-20,731	-20,717	-20,725	-20,705	-20,686	-20,662	-20,544	-20,498
Accumulated Other Comprehensive Income / (Loss)	-2,805	-2,815	-2,654	-2,539	-2,993	-2,995	-2,897	-2,894	-2,897	-2,971	-2,980
Noncontrolling Interest	4,091	4,006	8,247	8,296	8,302	8,107	1,708	1,615	1,561	1,226	42

This table displays calculated financial ratios and metrics derived from Walgreens Boots Alliance's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	35.41%	13.44%	0.74%	11.27%	-8.71%	1.59%	8.63%	0.15%	4.81%	6.17%
EBITDA Growth	25.59%	26.25%	-9.71%	16.13%	-15.72%	-57.63%	63.19%	30.82%	-140.50%	-336.75%
EBIT Growth	44.17%	7.23%	-3.38%	18.84%	-24.00%	-78.86%	173.84%	51.21%	-210.35%	-183.86%
NOPAT Growth	56.17%	29.36%	-4.40%	13.26%	-21.06%	-94.30%	561.73%	-10.36%	-444.73%	-104.53%
Net Income Growth	110.68%	-2.06%	-2.15%	22.68%	-21.25%	-89.30%	492.45%	61.82%	-186.79%	-337.87%
EPS Growth	100.00%	-4.50%	-1.05%	33.60%	67.13%	-93.84%	463.46%	70.99%	-171.26%	-180.39%
Operating Cash Flow Growth	61.82%	26.02%	-7.54%	13.89%	-32.30%	-1.97%	1.29%	-29.81%	-42.09%	-54.92%
Free Cash Flow Firm Growth	-77.34%	157.37%	-50.85%	-50.74%	50.31%	82.93%	-84.40%	-678.11%	48.33%	277.02%
Invested Capital Growth	173.99%	-19.58%	-5.22%	6.66%	-1.72%	-25.33%	0.87%	36.78%	-2.35%	-50.92%
Revenue Q/Q Growth	0.00%	0.10%	1.30%	2.57%	-11.94%	7.76%	6.70%	-1.35%	2.18%	1.46%
EBITDA Q/Q Growth	0.00%	19.80%	-4.20%	9.93%	-13.52%	-4.66%	10.72%	-20.85%	17.56%	-5.91%
EBIT Q/Q Growth	0.00%	16.98%	-4.79%	11.79%	-18.78%	-8.63%	17.60%	-27.33%	8.21%	-4.94%
NOPAT Q/Q Growth	0.00%	0.75%	-1.00%	8.18%	-13.68%	-71.00%	-1.48%	-47.92%	5.12%	-3.88%
Net Income Q/Q Growth	0.00%	31.46%	-5.27%	16.35%	-17.27%	-43.84%	11.40%	-21.51%	7.67%	-22.82%
EPS Q/Q Growth	0.00%	33.10%	-4.79%	17.99%	66.14%	-82.13%	-37.79%	-19.19%	6.79%	-48.52%
Operating Cash Flow Q/Q Growth	11.64%	36.61%	-16.63%	10.70%	-7.26%	-5.07%	-13.15%	-22.91%	73.03%	40.41%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-54.86%	103.95%	-11.81%	52.07%	-77.66%	-26.99%	47.29%	5.20%
Invested Capital Q/Q Growth	0.00%	-19.78%	-1.65%	-4.89%	-5.04%	-17.61%	-2.47%	-0.77%	-9.78%	-20.94%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	25.86%	25.46%	24.67%	23.41%	23.45%	21.38%	21.18%	21.30%	19.46%	17.96%
EBITDA Margin	6.11%	6.80%	6.09%	6.36%	5.87%	2.45%	3.68%	4.80%	-1.86%	-7.64%
Operating Margin	4.51%	5.11%	4.64%	4.78%	3.97%	0.81%	1.77%	1.05%	-4.95%	-9.53%
EBIT Margin	5.17%	4.89%	4.69%	5.01%	4.17%	0.87%	2.19%	3.30%	-3.48%	-9.30%
Profit (Net Income) Margin	4.14%	3.57%	3.47%	3.82%	3.30%	0.35%	1.90%	3.06%	-2.54%	-10.46%
Tax Burden Percent	80.57%	81.47%	84.50%	84.20%	90.89%	95.07%	125.91%	102.01%	65.10%	108.64%
Interest Burden Percent	99.22%	89.62%	87.50%	90.65%	87.02%	42.12%	68.79%	90.88%	111.99%	103.52%
Effective Tax Rate	19.88%	19.38%	15.66%	16.70%	13.24%	76.01%	33.43%	-0.75%	0.00%	0.00%
Return on Invested Capital (ROIC)	13.22%	12.94%	14.25%	16.05%	12.38%	0.81%	6.28%	4.73%	-14.29%	-39.68%
ROIC Less NNEP Spread (ROIC-NNEP)	36.42%	3.13%	-2.23%	12.03%	10.21%	3.82%	49.69%	123.13%	15.94%	-164.08%
Return on Net Nonoperating Assets (RNNOA)	3.26%	0.67%	-0.24%	2.26%	3.21%	1.06%	4.82%	10.17%	2.31%	-36.29%
Return on Equity (ROE)	16.48%	13.61%	14.01%	18.31%	15.59%	1.87%	11.10%	14.90%	-11.98%	-75.97%
Cash Return on Invested Capital (CROIC)	-79.82%	34.64%	19.61%	9.61%	14.11%	29.81%	5.42%	-26.33%	-11.92%	28.64%
Operating Return on Assets (OROA)	10.10%	8.11%	8.00%	9.83%	7.38%	1.37%	3.44%	5.12%	-5.18%	-15.46%
Return on Assets (ROA)	8.07%	5.92%	5.91%	7.50%	5.84%	0.55%	2.98%	4.74%	-3.78%	-17.39%
Return on Common Equity (ROCE)	16.27%	13.43%	13.72%	17.81%	15.18%	1.83%	10.80%	13.30%	-9.21%	-56.91%
Return on Equity Simple (ROE_SIMPLE)	13.87%	14.03%	14.93%	19.34%	16.85%	2.05%	10.73%	16.08%	-17.62%	-147.90%
Net Operating Profit after Tax (NOPAT)	3,740	4,838	4,625	5,239	4,135	236	1,559	1,397	-4,817	-9,853
NOPAT Margin	3.62%	4.12%	3.91%	3.98%	3.44%	0.19%	1.18%	1.05%	-3.46%	-6.67%
Net Nonoperating Expense Percent (NNEP)	-23.19%	9.81%	16.48%	4.02%	2.17%	-3.00%	-43.41%	-118.40%	-30.23%	124.40%
Cost of Revenue to Revenue	74.14%	74.54%	75.33%	76.59%	76.55%	78.62%	78.82%	78.70%	80.54%	82.04%
SG&A Expenses to Revenue	21.65%	20.37%	20.14%	18.77%	19.62%	20.85%	18.55%	20.57%	24.59%	19.04%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	21.35%	20.34%	20.03%	18.63%	19.48%	20.57%	19.41%	20.25%	24.41%	27.50%
Earnings before Interest and Taxes (EBIT)	5,353	5,740	5,546	6,591	5,009	1,059	2,900	4,385	-4,839	-13,736
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6,316	7,974	7,200	8,361	7,047	2,986	4,873	6,375	-2,582	-11,277
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.29	2.22	2.46	2.08	1.61	1.36	1.66	1.05	1.01	0.76
Price to Tangible Book Value (P/TBV)	33.00	16.39	40.24	0.00	0.00	0.00	36.50	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.68	0.57	0.57	0.41	0.31	0.23	0.29	0.20	0.15	0.05
Price to Earnings (P/E)	16.72	15.91	16.56	10.74	9.48	61.33	15.25	6.14	0.00	0.00
Dividend Yield	1.60%	2.37%	2.42%	3.02%	4.25%	5.70%	4.19%	6.21%	8.15%	13.30%
Earnings Yield	5.98%	6.28%	6.04%	9.31%	10.55%	1.63%	6.56%	16.30%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.96	2.10	2.27	1.83	1.43	1.47	1.62	1.04	1.01	0.85
Enterprise Value to Revenue (EV/Rev)	0.78	0.60	0.61	0.47	0.39	0.30	0.30	0.27	0.24	0.09
Enterprise Value to EBITDA (EV/EBITDA)	12.85	8.76	9.95	7.37	6.72	12.14	8.27	5.56	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	15.16	12.17	12.92	9.35	9.45	34.24	13.89	8.08	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	21.70	14.44	15.49	11.77	11.45	153.90	25.84	25.37	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	13.03	8.90	9.88	7.46	8.46	6.61	7.25	9.09	14.88	13.64
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	5.39	11.26	19.66	10.05	4.21	29.95	0.00	0.00	1.95
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.46	0.63	0.46	0.54	0.70	0.73	0.37	0.38	0.32	0.78
Long-Term Debt to Equity	0.43	0.62	0.45	0.47	0.46	0.58	0.32	0.35	0.29	0.66
Financial Leverage	0.09	0.21	0.11	0.19	0.31	0.28	0.10	0.08	0.14	0.22
Leverage Ratio	2.04	2.30	2.37	2.44	2.67	3.42	3.72	3.14	3.17	4.37
Compound Leverage Factor	2.03	2.06	2.07	2.21	2.32	1.44	2.56	2.86	3.55	4.52
Debt to Total Capital	31.48%	38.59%	31.39%	35.04%	41.08%	42.26%	27.11%	27.74%	24.13%	43.95%
Short-Term Debt to Total Capital	2.34%	0.66%	0.61%	4.79%	14.00%	8.92%	3.94%	2.52%	2.44%	6.93%
Long-Term Debt to Total Capital	29.15%	37.93%	30.78%	30.26%	27.08%	33.34%	23.17%	25.22%	21.69%	37.02%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.96%	0.81%	1.96%	1.66%	1.56%	1.36%	2.18%	12.20%	22.55%	7.99%
Common Equity to Total Capital	67.55%	60.60%	66.65%	63.30%	57.36%	56.38%	70.71%	60.06%	53.32%	48.08%
Debt to EBITDA	2.28	2.39	1.80	1.72	2.39	5.18	1.84	1.83	-3.51	-0.85
Net Debt to EBITDA	1.61	0.38	0.46	0.84	1.27	2.61	0.16	0.58	-1.87	-0.37
Long-Term Debt to EBITDA	2.11	2.35	1.76	1.49	1.57	4.09	1.58	1.67	-3.15	-0.71
Debt to NOPAT	3.85	3.93	2.80	2.75	4.07	65.66	5.76	8.35	-1.88	-0.97
Net Debt to NOPAT	2.71	0.63	0.72	1.34	2.17	33.09	0.51	2.65	-1.00	-0.42
Long-Term Debt to NOPAT	3.56	3.87	2.74	2.37	2.68	51.80	4.92	7.60	-1.69	-0.82
Altman Z-Score	3.46	3.49	3.80	3.65	3.16	2.12	2.67	2.41	1.82	1.61
Noncontrolling Interest Sharing Ratio	1.31%	1.36%	2.06%	2.71%	2.60%	2.52%	2.70%	10.73%	23.09%	25.08%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.19	1.52	1.07	0.82	0.73	0.67	0.72	0.75	0.63	0.68
Quick Ratio	0.59	0.94	0.53	0.34	0.32	0.17	0.31	0.33	0.25	0.33
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-22,576	12,951	6,365	3,136	4,713	8,622	1,345	-7,776	-4,017	7,112
Operating Cash Flow to CapEx	583.60%	670.68%	561.53%	1,160.53%	352.93%	427.10%	599.89%	974.75%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-37.32	21.73	9.19	5.09	7.25	14.06	1.49	-19.44	-6.93	14.75
Operating Cash Flow to Interest Expense	10.29	13.17	10.47	13.41	8.61	8.95	6.14	9.75	3.89	2.11
Operating Cash Flow Less CapEx to Interest Expense	8.53	11.20	8.60	12.26	6.17	6.85	5.11	8.75	7.99	5.18
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.95	1.66	1.70	1.96	1.77	1.58	1.57	1.55	1.49	1.66
Accounts Receivable Turnover	20.55	17.90	18.49	20.08	17.40	21.52	27.12	24.85	26.75	26.29
Inventory Turnover	10.40	9.92	9.98	10.91	9.73	11.12	12.99	12.65	13.49	14.61
Fixed Asset Turnover	7.57	7.98	8.45	9.55	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	10.65	8.30	7.58	7.73	6.59	7.83	9.82	9.33	9.38	9.07
Days Sales Outstanding (DSO)	17.76	20.39	19.74	18.18	20.97	16.96	13.46	14.69	13.64	13.88
Days Inventory Outstanding (DIO)	35.11	36.79	36.59	33.45	37.52	32.83	28.09	28.85	27.06	24.97
Days Payable Outstanding (DPO)	34.27	44.00	48.15	47.21	55.41	46.60	37.19	39.13	38.92	40.25
Cash Conversion Cycle (CCC)	18.60	13.18	8.19	4.42	3.09	3.19	4.36	4.41	1.78	-1.39
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	41,441	33,328	31,588	33,691	33,113	24,727	24,941	34,114	33,314	16,349
Invested Capital Turnover	3.66	3.14	3.64	4.03	3.59	4.22	5.34	4.49	4.13	5.95
Increase / (Decrease) in Invested Capital	26,316	-8,113	-1,740	2,103	-578	-8,386	214	9,173	-800	-16,965
Enterprise Value (EV)	81,144	69,849	71,652	61,652	47,353	36,258	40,289	35,451	33,607	13,884
Market Capitalization	70,564	66,401	67,530	53,968	37,750	27,965	38,768	26,611	20,312	7,978
Book Value per Share	$28.25	$27.61	$25.67	$26.21	$26.03	$23.82	$27.07	$29.24	$23.19	$12.10
Tangible Book Value per Share	$1.96	$3.74	$1.57	($2.71)	($4.34)	($1.67)	$1.23	($8.95)	($25.25)	($20.89)
Total Capital	45,683	49,309	41,209	41,086	40,988	36,604	33,121	42,082	37,551	21,728
Total Debt	14,383	19,028	12,935	14,397	16,836	15,468	8,980	11,674	9,062	9,549
Total Long-Term Debt	13,315	18,705	12,684	12,431	11,098	12,203	7,675	10,615	8,145	8,044
Net Debt	10,141	3,047	3,314	7,002	8,962	7,795	800	3,707	4,826	4,171
Capital Expenditures (CapEx)	1,067	1,170	1,292	712	1,585	1,284	926	400	-2,378	-1,479
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,168	-614	-1,844	-2,640	-2,354	-6,201	-6,128	-7,094	-8,854	-10,222
Debt-free Net Working Capital (DFNWC)	4,168	9,193	1,457	-1,855	-1,331	-5,732	-4,935	-4,622	-8,115	-7,113
Net Working Capital (NWC)	3,100	8,870	1,206	-3,821	-7,069	-8,997	-6,240	-5,681	-9,032	-8,618
Net Nonoperating Expense (NNE)	-539	647	524	208	173	-188	-953	-2,668	-1,289	5,595
Net Nonoperating Obligations (NNO)	10,141	3,047	3,314	7,002	8,961	3,591	800	3,706	4,825	4,170
Total Depreciation and Amortization (D&A)	963	2,234	1,654	1,770	2,038	1,927	1,973	1,990	2,257	2,459
Debt-free, Cash-free Net Working Capital to Revenue	1.13%	-0.52%	-1.56%	-2.01%	-1.96%	-5.08%	-4.62%	-5.35%	-6.37%	-6.92%
Debt-free Net Working Capital to Revenue	4.03%	7.83%	1.23%	-1.41%	-1.11%	-4.70%	-3.72%	-3.48%	-5.83%	-4.82%
Net Working Capital to Revenue	3.00%	7.56%	1.02%	-2.90%	-5.89%	-7.38%	-4.71%	-4.28%	-6.49%	-5.84%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.05	$3.85	$3.80	$5.07	$4.32	$0.52	$2.94	$5.02	($3.57)	($10.01)
Adjusted Weighted Average Basic Shares Outstanding	1.09B	1.08B	1.07B	991M	921.50M	879.40M	864.80M	864.40M	863.20M	863.10M
Adjusted Diluted Earnings per Share	$4.00	$3.82	$3.78	$5.05	$4.31	$0.52	$2.93	$5.01	($3.57)	($10.01)
Adjusted Weighted Average Diluted Shares Outstanding	1.05B	1.09B	1.08B	995M	923.50M	880.30M	866.40M	865.90M	863.20M	863.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.04B	1.08B	1.08B	949.16M	892.54M	865.92M	865.61M	864.81M	863.91M	864.62M
Normalized Net Operating Profit after Tax (NOPAT)	3,740	4,838	4,625	5,239	4,135	687	1,559	971	-4,817	-963
Normalized NOPAT Margin	3.62%	4.12%	3.91%	3.98%	3.44%	0.56%	1.18%	0.73%	-3.46%	-0.65%
Pre Tax Income Margin	5.13%	4.38%	4.11%	4.54%	3.63%	0.37%	1.51%	3.00%	-3.90%	-9.63%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.85	9.63	8.00	10.70	7.71	1.73	3.20	10.96	-8.34	-28.50
NOPAT to Interest Expense	6.18	8.12	6.67	8.50	6.36	0.38	1.72	3.49	-8.31	-20.44
EBIT Less CapEx to Interest Expense	7.08	7.67	6.14	9.54	5.27	-0.37	2.18	9.96	-4.24	-25.43
NOPAT Less CapEx to Interest Expense	4.42	6.15	4.81	7.35	3.92	-1.71	0.70	2.49	-4.21	-17.37
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	32.34%	37.29%	42.01%	34.57%	41.47%	412.03%	64.37%	40.81%	-47.02%	-8.16%
Augmented Payout Ratio	61.00%	64.78%	169.30%	138.48%	146.47%	786.79%	68.75%	97.27%	-88.58%	-8.60%

This table displays calculated financial ratios and metrics derived from Walgreens Boots Alliance's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.29%	-1.53%	3.28%	8.65%	9.16%	9.96%	6.28%	2.64%	6.00%	7.50%	4.15%
EBITDA Growth	-110.90%	-206.00%	-16.73%	-31.69%	333.33%	107.65%	-1,044.39%	150.52%	-163.38%	-41.46%	71.64%
EBIT Growth	-165.56%	-232.28%	-28.53%	-332.22%	66.31%	94.98%	-1,832.44%	274.64%	-293.64%	-60.62%	68.27%
NOPAT Growth	-278.47%	-461.67%	-82.91%	-49.06%	45.13%	99.37%	-5,390.11%	130.59%	-116.63%	-528.21%	57.73%
Net Income Growth	-181.73%	-208.07%	-32.51%	-120.96%	58.48%	92.71%	-2,365.07%	579.17%	-1,379.81%	-117.63%	67.25%
EPS Growth	-165.28%	-204.36%	-20.59%	-57.58%	55.32%	98.14%	-945.68%	185.71%	-1,557.14%	-287.50%	51.82%
Operating Cash Flow Growth	-93.09%	-55.14%	-31.24%	-101.23%	1,108.14%	-157.00%	-185.39%	3,120.00%	28.20%	50.18%	68.76%
Free Cash Flow Firm Growth	-9,091.69%	180.80%	103.13%	68.12%	104.97%	-209.83%	2,097.37%	667.83%	3,261.78%	430.64%	-35.53%
Invested Capital Growth	36.78%	-24.25%	-0.34%	7.40%	-2.35%	18.06%	-43.07%	-44.00%	-50.92%	-51.37%	-38.98%
Revenue Q/Q Growth	-0.45%	2.88%	4.43%	1.59%	0.02%	3.63%	0.94%	-1.89%	3.29%	5.09%	-2.21%
EBITDA Q/Q Growth	-129.05%	-2,726.67%	128.07%	-70.36%	-0.77%	-7.27%	-3,562.75%	107.86%	-125.10%	185.66%	-1,777.51%
EBIT Q/Q Growth	-825.56%	-690.05%	114.52%	-127.90%	-5.26%	-17.73%	-4,910.04%	102.81%	-337.26%	51.96%	-889.66%
NOPAT Q/Q Growth	-156.88%	-648.30%	104.05%	-291.59%	5.45%	91.35%	-33,671.79%	101.11%	-769.47%	74.92%	-2,172.24%
Net Income Q/Q Growth	-318.78%	-661.68%	114.26%	-108.82%	-333.33%	-33.65%	-4,332.37%	101.87%	-1,438.26%	80.34%	-566.94%
EPS Q/Q Growth	-242.42%	-817.02%	118.79%	-82.72%	-250.00%	61.90%	-8,462.50%	105.84%	-970.00%	91.09%	-964.52%
Operating Cash Flow Q/Q Growth	-94.72%	473.26%	51.32%	-102.68%	5,295.00%	-127.05%	-126.69%	194.82%	120.53%	-110.51%	-42.14%
Free Cash Flow Firm Q/Q Growth	-7.96%	147.15%	-93.47%	-1,058.73%	116.82%	-1,142.39%	230.70%	147.75%	-0.40%	2.52%	-74.51%
Invested Capital Q/Q Growth	-0.77%	-18.49%	32.09%	0.53%	-9.78%	-1.46%	-36.30%	-1.11%	-20.94%	-2.35%	-20.07%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	19.76%	20.83%	20.24%	18.60%	18.28%	18.45%	19.00%	17.77%	16.65%	17.18%	17.97%
EBITDA Margin	-0.51%	-13.97%	3.75%	1.10%	1.09%	0.97%	-33.36%	2.67%	-0.65%	0.53%	-9.09%
Operating Margin	-2.53%	-18.43%	0.57%	-1.35%	-1.27%	-0.11%	-35.55%	0.31%	-2.60%	-0.62%	-14.43%
EBIT Margin	-2.01%	-15.45%	2.15%	-0.59%	-0.62%	-0.71%	-35.02%	1.00%	-2.31%	-1.05%	-10.67%
Profit (Net Income) Margin	-1.54%	-11.43%	1.56%	-0.14%	-0.59%	-0.76%	-33.26%	0.63%	-8.20%	-1.53%	-10.46%
Tax Burden Percent	66.10%	72.41%	89.62%	12.57%	55.62%	77.65%	93.96%	91.63%	308.42%	112.45%	95.03%
Interest Burden Percent	116.08%	102.15%	81.04%	182.78%	170.00%	138.22%	101.06%	68.77%	115.24%	129.33%	103.13%
Effective Tax Rate	0.00%	0.00%	11.53%	0.00%	0.00%	0.00%	0.00%	7.97%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-7.97%	-52.86%	1.81%	-3.60%	-3.68%	-0.35%	-124.84%	1.42%	-10.83%	-2.68%	-91.14%
ROIC Less NNEP Spread (ROIC-NNEP)	-4.67%	-37.57%	7.82%	1.78%	-1.15%	-6.51%	-173.78%	3.44%	-64.06%	-11.56%	-93.64%
Return on Net Nonoperating Assets (RNNOA)	-0.39%	-4.14%	1.57%	0.31%	-0.17%	-1.01%	-49.01%	0.97%	-14.17%	-2.89%	-45.74%
Return on Equity (ROE)	-8.35%	-57.00%	3.38%	-3.29%	-3.84%	-1.36%	-173.85%	2.39%	-25.00%	-5.57%	-136.89%
Cash Return on Invested Capital (CROIC)	-26.33%	14.47%	-13.16%	-21.38%	-11.92%	-18.34%	20.55%	23.47%	28.64%	28.14%	20.65%
Operating Return on Assets (OROA)	-3.12%	-21.57%	2.97%	-0.84%	-0.93%	-1.05%	-54.84%	1.61%	-3.83%	-1.80%	-21.00%
Return on Assets (ROA)	-2.39%	-15.96%	2.15%	-0.19%	-0.87%	-1.13%	-52.07%	1.01%	-13.63%	-2.62%	-20.58%
Return on Common Equity (ROCE)	-7.46%	-45.95%	2.64%	-2.56%	-2.96%	-1.04%	-134.08%	1.84%	-18.73%	-4.20%	-124.63%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-15.95%	-16.72%	-18.14%	0.00%	0.05%	-95.34%	-92.20%	0.00%	-158.72%	-105.32%
Net Operating Profit after Tax (NOPAT)	-575	-4,306	174	-334	-316	-27	-9,220	102	-684	-172	-3,897
NOPAT Margin	-1.77%	-12.90%	0.50%	-0.94%	-0.89%	-0.07%	-24.88%	0.28%	-1.82%	-0.43%	-10.10%
Net Nonoperating Expense Percent (NNEP)	-3.30%	-15.28%	-6.01%	-5.38%	-2.52%	6.16%	48.94%	-2.02%	53.23%	8.88%	2.50%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-0.07%	-	-	-	-0.89%	-25.69%
Cost of Revenue to Revenue	80.25%	79.17%	79.76%	81.39%	81.72%	81.56%	81.00%	82.23%	83.34%	82.82%	82.03%
SG&A Expenses to Revenue	22.56%	39.42%	19.89%	20.11%	19.73%	18.66%	21.38%	17.59%	18.50%	17.78%	23.04%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	22.29%	39.26%	19.67%	19.95%	19.55%	18.55%	54.55%	17.47%	19.26%	17.80%	32.40%
Earnings before Interest and Taxes (EBIT)	-653	-5,159	749	-209	-220	-259	-12,976	365	-866	-416	-4,117
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-165	-4,664	1,309	388	385	357	-12,362	972	-244	209	-3,506
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.05	1.63	1.35	1.16	1.01	0.82	1.36	1.03	0.76	0.78	1.30
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.20	0.25	0.21	0.18	0.15	0.11	0.13	0.10	0.05	0.05	0.06
Price to Earnings (P/E)	6.14	0.00	0.00	0.00	0.00	27.70	0.00	0.00	0.00	0.00	0.00
Dividend Yield	6.21%	4.95%	5.77%	6.76%	8.15%	10.42%	7.95%	9.00%	13.30%	11.09%	9.36%
Earnings Yield	16.30%	0.00%	0.00%	0.00%	0.00%	3.61%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.04	1.46	1.20	1.09	1.01	0.89	1.23	1.02	0.85	0.86	1.16
Enterprise Value to Revenue (EV/Rev)	0.27	0.31	0.33	0.30	0.24	0.21	0.18	0.14	0.09	0.09	0.10
Enterprise Value to EBITDA (EV/EBITDA)	5.56	0.00	0.00	0.00	0.00	11.99	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	8.08	0.00	0.00	0.00	0.00	479.43	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	25.37	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	9.09	12.36	14.96	30.94	14.88	19.71	255.10	29.00	13.64	11.91	9.31
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	8.72	0.00	0.00	0.00	0.00	4.35	3.11	1.95	2.01	4.27
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.38	0.47	0.44	0.40	0.32	0.33	0.62	0.58	0.78	0.71	1.10
Long-Term Debt to Equity	0.35	0.31	0.30	0.30	0.29	0.27	0.49	0.48	0.66	0.68	0.91
Financial Leverage	0.08	0.11	0.20	0.18	0.14	0.16	0.28	0.28	0.22	0.25	0.49
Leverage Ratio	3.14	3.26	3.15	3.15	3.17	3.63	4.11	4.04	4.37	4.52	6.83
Compound Leverage Factor	3.65	3.33	2.55	5.76	5.39	5.02	4.15	2.78	5.03	5.84	7.04
Debt to Total Capital	27.74%	32.16%	30.59%	28.73%	24.13%	25.01%	38.14%	36.61%	43.95%	41.69%	52.48%
Short-Term Debt to Total Capital	2.52%	10.80%	9.90%	7.39%	2.44%	4.51%	7.80%	6.19%	6.93%	2.31%	9.21%
Long-Term Debt to Total Capital	25.22%	21.36%	20.69%	21.34%	21.69%	20.49%	30.34%	30.43%	37.02%	39.38%	43.28%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	12.20%	11.42%	19.71%	20.41%	22.55%	22.36%	7.57%	7.35%	7.99%	6.89%	0.96%
Common Equity to Total Capital	60.06%	56.43%	49.70%	50.85%	53.32%	52.64%	54.30%	56.04%	48.08%	51.43%	46.56%
Debt to EBITDA	1.83	-4.36	-4.42	-3.80	-3.51	3.79	-0.84	-0.84	-0.85	-0.71	-3.12
Net Debt to EBITDA	0.58	-1.14	-2.42	-2.36	-1.87	2.08	-0.49	-0.49	-0.37	-0.41	-2.14
Long-Term Debt to EBITDA	1.67	-2.90	-2.99	-2.82	-3.15	3.11	-0.67	-0.70	-0.71	-0.67	-2.57
Debt to NOPAT	8.35	-2.77	-2.63	-2.34	-1.88	-17.17	-0.96	-0.94	-0.97	-0.81	-1.71
Net Debt to NOPAT	2.65	-0.73	-1.44	-1.46	-1.00	-9.41	-0.56	-0.55	-0.42	-0.47	-1.18
Long-Term Debt to NOPAT	7.60	-1.84	-1.78	-1.74	-1.69	-14.07	-0.76	-0.78	-0.82	-0.76	-1.41
Altman Z-Score	2.23	1.93	1.94	1.95	1.98	1.94	1.69	2.22	2.13	2.22	2.28
Noncontrolling Interest Sharing Ratio	10.73%	19.39%	21.84%	22.02%	23.09%	23.69%	22.87%	22.79%	25.08%	24.61%	8.96%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.75	0.70	0.63	0.63	0.63	0.66	0.66	0.65	0.68	0.64	0.61
Quick Ratio	0.33	0.32	0.27	0.26	0.25	0.26	0.28	0.27	0.33	0.27	0.27
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-9,748	4,596	300	-2,879	484	-5,048	6,598	16,347	16,281	16,692	4,254
Operating Cash Flow to CapEx	63.70%	0.00%	0.00%	0.00%	0.00%	-139.11%	0.00%	0.00%	0.00%	-116.67%	0.00%
Free Cash Flow to Firm to Interest Expense	-91.97	41.78	2.13	-16.64	3.10	-50.99	47.81	144.67	123.34	136.82	32.98
Operating Cash Flow to Interest Expense	0.81	4.48	5.29	-0.12	6.66	-2.84	-4.62	5.35	10.09	-1.15	-1.54
Operating Cash Flow Less CapEx to Interest Expense	-0.46	17.74	10.22	-0.05	8.03	-4.88	0.13	6.57	16.82	-2.13	1.45
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.55	1.40	1.38	1.42	1.49	1.49	1.57	1.60	1.66	1.71	1.97
Accounts Receivable Turnover	24.85	24.45	24.11	25.03	26.75	26.31	24.24	24.68	26.29	24.73	25.03
Inventory Turnover	12.65	11.12	12.01	13.08	13.49	12.30	13.60	14.19	14.61	13.34	15.31
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	9.33	8.49	8.90	9.16	9.38	8.96	9.23	9.45	9.07	8.80	9.61
Days Sales Outstanding (DSO)	14.69	14.93	15.14	14.58	13.64	13.87	15.06	14.79	13.88	14.76	14.58
Days Inventory Outstanding (DIO)	28.85	32.81	30.39	27.91	27.06	29.66	26.84	25.72	24.97	27.36	23.85
Days Payable Outstanding (DPO)	39.13	43.01	41.03	39.85	38.92	40.72	39.52	38.61	40.25	41.46	37.99
Cash Conversion Cycle (CCC)	4.41	4.74	4.51	2.64	1.78	2.81	2.37	1.90	-1.39	0.66	0.44
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	34,114	27,806	36,729	36,924	33,314	32,827	20,911	20,679	16,349	15,964	12,760
Invested Capital Turnover	4.49	4.10	3.62	3.82	4.13	4.70	5.02	5.05	5.95	6.17	9.03
Increase / (Decrease) in Invested Capital	9,173	-8,902	-126	2,545	-800	5,021	-15,818	-16,245	-16,965	-16,863	-8,151
Enterprise Value (EV)	35,451	40,713	44,180	40,374	33,607	29,245	25,765	21,027	13,884	13,806	14,861
Market Capitalization	26,611	33,481	28,642	24,513	20,312	15,898	18,337	13,990	7,978	7,780	9,212
Book Value per Share	$29.24	$23.83	$24.57	$24.41	$23.19	$22.57	$15.64	$15.81	$12.10	$11.50	$8.23
Tangible Book Value per Share	($8.95)	($14.61)	($24.37)	($24.21)	($25.25)	($25.47)	($17.76)	($17.40)	($20.89)	($20.90)	($17.83)
Total Capital	42,082	36,466	42,639	41,421	37,551	37,012	24,836	24,343	21,728	19,328	15,272
Total Debt	11,674	11,727	13,042	11,902	9,062	9,255	9,472	8,913	9,549	8,057	8,015
Total Long-Term Debt	10,615	7,789	8,820	8,841	8,145	7,585	7,535	7,407	8,044	7,611	6,609
Net Debt	3,707	3,069	7,133	7,405	4,826	5,071	5,548	5,249	4,171	4,694	5,503
Capital Expenditures (CapEx)	135	-1,458	-695	-12	-213	202	-655	-138	-888	120	-386
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-7,094	-8,807	-8,157	-7,537	-8,854	-7,885	-7,085	-7,894	-10,222	-10,720	-10,074
Debt-free Net Working Capital (DFNWC)	-4,622	-4,575	-6,317	-6,567	-8,115	-7,101	-6,417	-7,191	-7,113	-9,529	-8,942
Net Working Capital (NWC)	-5,681	-8,513	-10,539	-9,628	-9,032	-8,771	-8,354	-8,697	-8,618	-9,975	-10,348
Net Nonoperating Expense (NNE)	-74	-490	-370	-286	-108	251	3,102	-128	2,394	434	138
Net Nonoperating Obligations (NNO)	3,706	3,067	7,132	7,405	4,825	5,070	5,547	5,249	4,170	4,693	5,503
Total Depreciation and Amortization (D&A)	488	495	560	597	605	616	614	607	622	625	611
Debt-free, Cash-free Net Working Capital to Revenue	-5.35%	-6.66%	-6.12%	-5.54%	-6.37%	-5.54%	-4.90%	-5.42%	-6.92%	-7.13%	-6.63%
Debt-free Net Working Capital to Revenue	-3.48%	-3.46%	-4.74%	-4.82%	-5.83%	-4.99%	-4.44%	-4.94%	-4.82%	-6.34%	-5.89%
Net Working Capital to Revenue	-4.28%	-6.44%	-7.91%	-7.07%	-6.49%	-6.16%	-5.78%	-5.98%	-5.84%	-6.63%	-6.81%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.46)	($4.31)	$0.81	$0.14	($0.21)	($0.08)	($6.85)	$0.40	($3.48)	($0.31)	($3.30)
Adjusted Weighted Average Basic Shares Outstanding	864.40M	863.60M	862.60M	863.10M	863.20M	863M	862.50M	863.10M	863.10M	863.80M	864.10M
Adjusted Diluted Earnings per Share	($0.47)	($4.31)	$0.81	$0.14	($0.21)	($0.08)	($6.85)	$0.40	($3.48)	($0.31)	($3.30)
Adjusted Weighted Average Diluted Shares Outstanding	865.90M	863.60M	863.40M	863.80M	863.20M	863M	862.50M	864.30M	863.10M	863.80M	864.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	864.81M	862.50M	862.80M	863.26M	863.91M	862.38M	862.71M	863.28M	864.62M	864.15M	864.74M
Normalized Net Operating Profit after Tax (NOPAT)	-575	-4,306	174	-334	-316	-27	-561	102	-684	-172	-1,340
Normalized NOPAT Margin	-1.77%	-12.90%	0.50%	-0.94%	-0.89%	-0.07%	-1.52%	0.28%	-1.82%	-0.43%	-3.47%
Pre Tax Income Margin	-2.34%	-15.79%	1.74%	-1.08%	-1.06%	-0.98%	-35.39%	0.69%	-2.66%	-1.36%	-11.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-6.16	-46.90	5.31	-1.21	-1.41	-2.62	-94.03	3.23	-6.56	-3.41	-31.91
NOPAT to Interest Expense	-5.43	-39.14	1.24	-1.93	-2.02	-0.28	-66.81	0.90	-5.18	-1.41	-30.21
EBIT Less CapEx to Interest Expense	-7.43	-33.65	10.24	-1.14	-0.04	-4.66	-89.28	4.45	0.17	-4.39	-28.92
NOPAT Less CapEx to Interest Expense	-6.70	-25.89	6.17	-1.86	-0.66	-2.32	-62.06	2.13	1.55	-2.39	-27.22
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	40.81%	-50.61%	-46.70%	-43.23%	-47.02%	16,590.00%	-12.90%	-11.60%	-8.16%	-6.73%	-11.54%
Augmented Payout Ratio	97.27%	-120.41%	-80.25%	-81.60%	-88.58%	30,440.00%	-15.59%	-12.15%	-8.60%	-6.95%	-12.02%

Frequently Asked Questions About Walgreens Boots Alliance's Financials

When does Walgreens Boots Alliance's fiscal year end?

According to the most recent income statement we have on file, Walgreens Boots Alliance's financial year ends in August. Their financial year 2024 ended on August 31, 2024.

How has Walgreens Boots Alliance's net income changed over the last 9 years?

Walgreens Boots Alliance's net income appears to be on a downward trend, with a most recent value of -$15.45 billion in 2024, falling from $4.28 billion in 2015. The previous period was -$3.53 billion in 2023.

What is Walgreens Boots Alliance's operating income?

Walgreens Boots Alliance's total operating income in 2024 was -$14.08 billion, based on the following breakdown:

Total Gross Profit: $26.52 billion
Total Operating Expenses: $40.60 billion

How has Walgreens Boots Alliance revenue changed over the last 9 years?

Over the last 9 years, Walgreens Boots Alliance's total revenue changed from $103.44 billion in 2015 to $147.66 billion in 2024, a change of 42.7%.

How much debt does Walgreens Boots Alliance have?

Walgreens Boots Alliance's total liabilities were at $68.86 billion at the end of 2024, a 1.1% increase from 2023, and a 83.7% increase since 2015.

How much cash does Walgreens Boots Alliance have?

In the past 9 years, Walgreens Boots Alliance's cash and equivalents has ranged from $469 million in 2020 to $9.81 billion in 2016, and is currently $1.32 billion as of their latest financial filing in 2024.

How has Walgreens Boots Alliance's book value per share changed over the last 9 years?

Over the last 9 years, Walgreens Boots Alliance's book value per share changed from 28.25 in 2015 to 12.10 in 2024, a change of -57.2%.

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This page (NASDAQ:WBA) was last updated on 4/30/2025 by MarketBeat.com Staff

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Walgreens Boots Alliance (WBA) Financials

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Walgreens Boots Alliance (WBA) Financials

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