Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
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Walmart Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2026-04-30), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30).
The capital structure exhibits a consistent reliance on liabilities, which generally fluctuate between 62% and 68% of total liabilities, redeemable noncontrolling interest, and shareholders’ equity. While total liabilities remain relatively stable, there is a discernible shift in the composition from long-term obligations toward current liabilities and equity over the analyzed period.
- Current Liabilities Trends
- Current liabilities represent a significant portion of the balance sheet, typically ranging from 34% to 41%. Accounts payable constitute the largest single component of these obligations, maintaining a steady range between 18.9% and 23.9%, indicating a consistent strategy in managing supplier credit. Short-term borrowings exhibit high volatility, with values dropping to nearly zero in 2020 before peaking at 4.64% in April 2022 and continuing to fluctuate between 0.35% and 3.69%, suggesting opportunistic use of short-term financing.
- Long-Term Debt and Obligations
- A clear downward trend is observed in long-term liabilities, which decreased from 32.69% in April 2020 to 25.57% by April 2026. This reduction is primarily driven by a decline in long-term debt, which fell from 18.47% to 12.74%. Operating and finance lease obligations have remained relatively stable, with long-term operating leases trending slightly downward from 6.73% to 4.97%.
- Shareholders’ Equity Analysis
- Total shareholders' equity has shown a general upward trajectory, moving from 31.82% in April 2020 to 34.77% by April 2026. Retained earnings serve as the primary driver of this equity, typically fluctuating between 31% and 37%. Accumulated other comprehensive loss remains a persistent negative factor, though it improved from a low of -6.94% in early 2020 to settle around -4.70% by the end of the period.
Overall, the financial position reflects a strategic reduction in long-term leverage and a modest increase in equity financing, while maintaining a stable operational reliance on trade payables to fund current activities.