Total Asset Turnover
since 2005
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Walmart Inc. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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Calculation
Walmart Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Jan 31, 2026 | = | ÷ | |||
| Jan 31, 2025 | = | ÷ | |||
| Jan 31, 2024 | = | ÷ | |||
| Jan 31, 2023 | = | ÷ | |||
| Jan 31, 2022 | = | ÷ | |||
| Jan 31, 2021 | = | ÷ | |||
| Jan 31, 2020 | = | ÷ | |||
| Jan 31, 2019 | = | ÷ | |||
| Jan 31, 2018 | = | ÷ | |||
| Jan 31, 2017 | = | ÷ | |||
| Jan 31, 2016 | = | ÷ | |||
| Jan 31, 2015 | = | ÷ | |||
| Jan 31, 2014 | = | ÷ | |||
| Jan 31, 2013 | = | ÷ | |||
| Jan 31, 2012 | = | ÷ | |||
| Jan 31, 2011 | = | ÷ | |||
| Jan 31, 2010 | = | ÷ | |||
| Jan 31, 2009 | = | ÷ | |||
| Jan 31, 2008 | = | ÷ | |||
| Jan 31, 2007 | = | ÷ | |||
| Jan 31, 2006 | = | ÷ | |||
| Jan 31, 2005 | = | ÷ |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).
1 US$ in millions
The total asset turnover ratio for the period examined demonstrates a generally stable pattern with some notable fluctuations. Initially, the ratio exhibits a slight decline from 2.37 in 2005 to 2.26 in 2006, followed by a period of relative stability around the 2.30 level between 2007 and 2012. A subsequent increase is observed, peaking at 2.59 in 2023 before decreasing slightly to 2.48 in 2024 and 2.55 in 2025.
- Overall Trend
- The ratio generally remained within a narrow band between 2.20 and 2.42 for much of the period from 2006 to 2018. A more pronounced upward trend emerges from 2019, indicating increasing efficiency in asset utilization. The most recent years show a continued high level of asset turnover, suggesting improved sales generation relative to the asset base.
- Significant Fluctuations
- A notable increase occurred in 2009, with the ratio rising to 2.46. This suggests a more effective use of assets to generate sales during that year. Conversely, the ratio experienced a dip to 2.20 in 2020, potentially reflecting the impact of external factors on sales or a temporary increase in the asset base. The substantial increase in 2022 and 2023 warrants further investigation to understand the drivers behind this improved performance.
- Recent Performance (2020-2025)
- From 2020 onwards, the ratio demonstrates a clear upward trajectory, increasing from 2.20 to 2.59. This indicates a strengthening relationship between sales and assets, suggesting improved operational efficiency or strategic asset management. The slight decrease in 2024 and 2025 does not negate the overall positive trend, but it may signal a potential stabilization or a need for continued focus on asset utilization.
In summary, the total asset turnover ratio indicates a generally efficient use of assets, with a marked improvement in recent years. The observed fluctuations warrant further investigation to identify the underlying causes and ensure sustained performance.
Comparison to Competitors
Walmart Inc., total asset turnover, long-term trends, comparison to competitors
| Walmart Inc. | Costco Wholesale Corp. | Target Corp. | |
|---|---|---|---|
| Jan 31, 2026 | |||
| Jan 31, 2025 | |||
| Jan 31, 2024 | |||
| Jan 31, 2023 | |||
| Jan 31, 2022 | |||
| Jan 31, 2021 | |||
| Jan 31, 2020 | |||
| Jan 31, 2019 | |||
| Jan 31, 2018 | |||
| Jan 31, 2017 | |||
| Jan 31, 2016 | |||
| Jan 31, 2015 | |||
| Jan 31, 2014 | |||
| Jan 31, 2013 | |||
| Jan 31, 2012 | |||
| Jan 31, 2011 | |||
| Jan 31, 2010 | |||
| Jan 31, 2009 | |||
| Jan 31, 2008 | |||
| Jan 31, 2007 | |||
| Jan 31, 2006 | |||
| Jan 31, 2005 |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).
Comparison to Sector (Consumer Staples Distribution & Retail)
Walmart Inc., total asset turnover, long-term trends, comparison to sector (consumer staples distribution & retail)
| Walmart Inc. | Consumer Staples Distribution & Retail | |
|---|---|---|
| Jan 31, 2026 | ||
| Jan 31, 2025 | ||
| Jan 31, 2024 | ||
| Jan 31, 2023 | ||
| Jan 31, 2022 | ||
| Jan 31, 2021 | ||
| Jan 31, 2020 | ||
| Jan 31, 2019 | ||
| Jan 31, 2018 | ||
| Jan 31, 2017 | ||
| Jan 31, 2016 | ||
| Jan 31, 2015 | ||
| Jan 31, 2014 | ||
| Jan 31, 2013 | ||
| Jan 31, 2012 | ||
| Jan 31, 2011 | ||
| Jan 31, 2010 | ||
| Jan 31, 2009 | ||
| Jan 31, 2008 | ||
| Jan 31, 2007 | ||
| Jan 31, 2006 | ||
| Jan 31, 2005 |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).
Comparison to Industry (Consumer Staples)
Walmart Inc., total asset turnover, long-term trends, comparison to industry (consumer staples)
| Walmart Inc. | Consumer Staples | |
|---|---|---|
| Jan 31, 2026 | ||
| Jan 31, 2025 | ||
| Jan 31, 2024 | ||
| Jan 31, 2023 | ||
| Jan 31, 2022 | ||
| Jan 31, 2021 | ||
| Jan 31, 2020 | ||
| Jan 31, 2019 | ||
| Jan 31, 2018 | ||
| Jan 31, 2017 | ||
| Jan 31, 2016 | ||
| Jan 31, 2015 | ||
| Jan 31, 2014 | ||
| Jan 31, 2013 | ||
| Jan 31, 2012 | ||
| Jan 31, 2011 | ||
| Jan 31, 2010 | ||
| Jan 31, 2009 | ||
| Jan 31, 2008 | ||
| Jan 31, 2007 | ||
| Jan 31, 2006 | ||
| Jan 31, 2005 |
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), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-01-31), 10-K (reporting date: 2012-01-31), 10-K (reporting date: 2011-01-31), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-31), 10-K (reporting date: 2007-01-31), 10-K (reporting date: 2006-01-31), 10-K (reporting date: 2005-01-31).