Stock Analysis on Net
Stock Analysis on Net

Walmart Inc. (NASDAQ:WMT)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

Walmart Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Jan 31, 2026 Jan 31, 2025 Jan 31, 2024 Jan 31, 2023 Jan 31, 2022 Jan 31, 2021
Short-term borrowings 2.32 1.18 0.35 0.15 0.17 0.09
Accounts payable 22.15 22.49 22.51 22.10 22.57 19.46
Accrued wages and benefits 2.77 3.03 3.40 3.41 3.23 3.03
Self-insurance 1.94 1.91 1.95 1.94 1.90 1.86
Accrued non-income taxes 1.44 1.34 1.37 1.41 1.33 1.32
Opioid litigation settlement 0.00 0.00 0.00 1.21 0.00 0.00
Deferred gift card revenue 1.03 1.06 1.06 1.02 1.05 0.91
Other 3.77 3.92 3.62 3.80 3.14 7.91
Accrued liabilities 10.96% 11.25% 11.39% 12.80% 10.64% 15.04%
Accrued income taxes 0.21 0.23 0.12 0.30 0.35 0.10
Long-term debt due within one year 1.24 1.00 1.37 1.72 1.14 1.23
Operating lease obligations due within one year 0.57 0.57 0.59 0.61 0.61 0.58
Finance lease obligations due within one year 0.30 0.31 0.29 0.23 0.21 0.19
Current liabilities 37.75% 37.03% 36.61% 37.91% 35.69% 36.69%
Long-term debt, excluding due within one year 12.16 12.81 14.32 14.25 14.24 16.31
Long-term operating lease obligations, excluding due within one year 4.90 4.92 5.13 5.27 5.31 5.11
Long-term finance lease obligations, excluding due within one year 2.07 2.27 2.26 1.99 1.73 1.52
Deferred income taxes and other 5.81 5.52 5.80 6.04 5.50 5.69
Long-term liabilities 24.95% 25.51% 27.50% 27.55% 26.79% 28.64%
Total liabilities 62.70% 62.54% 64.12% 65.46% 62.47% 65.33%
Redeemable noncontrolling interest 0.10 0.10 0.09 0.10 0.00 0.00
Common stock 0.28 0.31 0.32 0.11 0.11 0.11
Capital in excess of par value 2.39 2.11 1.80 2.04 1.98 1.44
Retained earnings 36.81 37.69 35.58 34.18 35.49 35.15
Accumulated other comprehensive loss -4.49 -5.22 -4.48 -4.80 -3.58 -4.66
Total Walmart shareholders’ equity 34.99% 34.89% 33.23% 31.54% 34.00% 32.05%
Nonredeemable noncontrolling interest 2.20 2.46 2.57 2.90 3.53 2.62
Total shareholders’ equity 37.20% 37.35% 35.80% 34.44% 37.53% 34.67%
Total liabilities, redeemable noncontrolling interest, and shareholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31).

The composition of liabilities and shareholders’ equity exhibited several notable shifts between January 31, 2021, and January 31, 2026. Overall, total liabilities remained relatively stable as a percentage of the total, fluctuating between 62.47% and 65.46% before settling at 62.70% in 2026. Shareholders’ equity demonstrated a similar pattern, ranging from 34.67% to 37.53% and concluding at 37.20%.

Short-Term Borrowings
Short-term borrowings experienced a significant increase as a percentage of the total, rising from 0.09% in 2021 to 2.32% in 2026. This indicates a growing reliance on short-term financing over the analyzed period.
Accounts Payable
Accounts payable remained consistently high, fluctuating narrowly between 19.46% and 22.57% before decreasing slightly to 22.15% in 2026. This suggests a stable relationship with suppliers and consistent payment terms.
Accrued Liabilities
Accrued liabilities decreased from 15.04% in 2021 to 10.96% in 2026. This decline could be attributed to improved expense management or changes in the timing of accruals.
Long-Term Debt
Long-term debt, both due within one year and excluding amounts due within one year, showed a modest decrease overall. The percentage of long-term debt excluding current portions decreased from 16.31% in 2021 to 12.16% in 2026, suggesting a reduction in long-term financing needs or a shift towards other funding sources.
Shareholders’ Equity Components
Retained earnings remained a substantial component of shareholders’ equity, consistently representing over 34% of the total. Accumulated other comprehensive loss exhibited a negative percentage, ranging from -3.58% to -5.22%, indicating unrealized losses impacting equity. Common stock saw a notable increase in 2024, rising to 0.32% before decreasing to 0.28% in 2026. Capital in excess of par value also showed an increase, moving from 1.44% to 2.39% over the period.
Specific Items
The Opioid litigation settlement appeared in 2023 at 1.21% and then disappeared, suggesting the settlement was resolved. Deferred gift card revenue remained relatively stable, fluctuating around 1% of the total. The "Other" category within liabilities showed considerable volatility, decreasing significantly from 7.91% in 2021 to 3.77% in 2026.

In summary, the liability structure demonstrated a shift towards increased short-term borrowing, while long-term debt decreased modestly. Shareholders’ equity experienced fluctuations in its components, with retained earnings remaining the dominant factor. The overall financial structure remained relatively balanced throughout the period, with liabilities and equity maintaining consistent proportions.

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