Wal-Mart Stores Inc. (WMT) | Debt and Solvency

Ratios (Summary)

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Wal-Mart Stores Inc., debt and solvency ratios

Source: Based on data from Wal-Mart Stores Inc. Annual Reports

Ratio	Description	The company
Debt-to-equity ratio	A solvency ratio calculated as total debt divided by total shareholders' equity.	Wal-Mart Stores Inc.'s debt-to-equity ratio improved from 2009 to 2010 but then deteriorated significantly from 2010 to 2011.
Debt-to-capital ratio	A solvency ratio calculated as total debt divided by total debt plus shareholders' equity.	Wal-Mart Stores Inc.'s debt-to-capital ratio improved from 2009 to 2010 but then deteriorated significantly from 2010 to 2011.
Interest coverage ratio	A solvency ratio calculated as EBIT divided by interest payments.	Wal-Mart Stores Inc.'s interest coverage ratio improved from 2009 to 2010 and from 2010 to 2011.

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		Jan 31, 2011	Jan 31, 2010	Jan 31, 2009	Jan 31, 2008	Jan 31, 2007	Jan 31, 2006
	Selected Financial Data (USD $ in millions)
	Short-term borrowings
	Long-term debt due within one year
	Obligations under capital leases due within one year
	Long-term debt, excluding due within one year
	Long-term obligations under capital leases
	Total debt
	Walmart shareholders’ equity
	Debt to Equity, Comparison to Industry
	Wal-Mart Stores Inc.¹
	Industry, Consumer Services

Source: Based on data from Wal-Mart Stores Inc. Annual Reports

2011 Calculations

¹ Debt to equity = Total debt ÷ Walmart shareholders’ equity
= ÷ =

Ratio	Description	The company
Debt-to-equity ratio	A solvency ratio calculated as total debt divided by total shareholders' equity.	Wal-Mart Stores Inc.'s debt-to-equity ratio improved from 2009 to 2010 but then deteriorated significantly from 2010 to 2011.

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		Jan 31, 2011	Jan 31, 2010	Jan 31, 2009	Jan 31, 2008	Jan 31, 2007	Jan 31, 2006
	Selected Financial Data (USD $ in millions)
	Short-term borrowings
	Long-term debt due within one year
	Obligations under capital leases due within one year
	Long-term debt, excluding due within one year
	Long-term obligations under capital leases
	Total debt
	Walmart shareholders’ equity
	Total capital
	Debt to Capital, Comparison to Industry
	Wal-Mart Stores Inc.¹
	Industry, Consumer Services

Source: Based on data from Wal-Mart Stores Inc. Annual Reports

2011 Calculations

¹ Debt to capital = Total debt ÷ Total capital
= ÷ =

Ratio	Description	The company
Debt-to-capital ratio	A solvency ratio calculated as total debt divided by total debt plus shareholders' equity.	Wal-Mart Stores Inc.'s debt-to-capital ratio improved from 2009 to 2010 but then deteriorated significantly from 2010 to 2011.

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		Jan 31, 2011	Jan 31, 2010	Jan 31, 2009	Jan 31, 2008	Jan 31, 2007	Jan 31, 2006
	Selected Financial Data (USD $ in millions)
	Consolidated net income attributable to Walmart
	Add: Consolidated net income attributable to noncontrolling interest
	Add: Interest (debt and capital leases)
	Add: Income tax expense (benefit)
	Earnings before interest and tax (EBIT)
	Interest Coverage, Comparison to Industry
	Wal-Mart Stores Inc.¹
	Industry, Consumer Services

Source: Based on data from Wal-Mart Stores Inc. Annual Reports

2011 Calculations

¹ Interest coverage = EBIT ÷ Interest expense
= ÷ =

Ratio	Description	The company
Interest coverage ratio	A solvency ratio calculated as EBIT divided by interest payments.	Wal-Mart Stores Inc.'s interest coverage ratio improved from 2009 to 2010 and from 2010 to 2011.