Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Operating Profit (P/OP) since 2005
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Walmart Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-07-31), 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 financial position over the analyzed period is characterized by a steady expansion of the total balance sheet, with total liabilities, redeemable noncontrolling interests, and shareholders' equity increasing from 232,892 million US dollars in April 2020 to 293,914 million US dollars by July 2026. This growth is driven by a simultaneous increase in both operational liabilities and total equity.
- Liability Structure and Trends
- Total liabilities exhibit a long-term upward trajectory, rising from 158,782 million US dollars to 189,115 million US dollars. This increase is primarily concentrated within current liabilities, which grew from 82,647 million US dollars to 115,630 million US dollars. Accounts payable represents the most significant component of this growth, increasing from 44,096 million US dollars to 64,318 million US dollars, suggesting an expansion in procurement volume or a shift in supplier credit terms.
- In contrast, long-term liabilities remained more stable, ending the period at 73,485 million US dollars compared to 76,135 million US dollars at the start. A notable trend is the gradual reduction in long-term debt, excluding the portion due within one year, which decreased from 43,006 million US dollars to 36,462 million US dollars, indicating a strategic reduction in long-term borrowing levels.
- Equity and Retained Earnings
- Total shareholders' equity demonstrates consistent growth, moving from 74,110 million US dollars in April 2020 to 104,506 million US dollars by July 2026. This strengthening of the equity base is largely attributable to the accumulation of retained earnings, which climbed from 81,141 million US dollars to 103,601 million US dollars, reflecting sustained profitability and a disciplined dividend policy.
- Accumulated other comprehensive loss remained a persistent negative factor throughout the period, fluctuating between a high of -7,946 million US dollars and a low of -16,168 million US dollars. This indicates ongoing unrealized losses, likely stemming from foreign currency translation or derivative adjustments.
- Short-term Financing and Liquidity Obligations
- Short-term borrowings exhibit high volatility, suggesting tactical use for liquidity management. Significant spikes occurred in April 2022 (11,432 million US dollars), October 2023 (9,942 million US dollars), and July 2026 (10,479 million US dollars), contrasted with periods of minimal borrowing, such as January 2021 (224 million US dollars).
- Operating and finance lease obligations due within one year remained relatively constant, indicating a stable short-term lease commitment profile. Long-term finance lease obligations, however, showed a moderate increase from 4,474 million US dollars to 5,952 million US dollars, reflecting a gradual increase in capitalized lease assets.
Overall, the capital structure shows a transition toward a higher proportion of equity and operational liabilities relative to long-term debt. The increase in total shareholders' equity, coupled with the reduction in long-term debt, indicates an improvement in the company's long-term solvency and a reduced reliance on long-term external financing.