Stock Analysis on Net
Stock Analysis on Net

Walmart Inc. (NYSE:WMT)

Common-Size Balance Sheet: Assets 
Quarterly Data

Walmart Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Apr 30, 2025 Jan 31, 2025 Oct 31, 2024 Jul 31, 2024 Apr 30, 2024 Jan 31, 2024 Oct 31, 2023 Jul 31, 2023 Apr 30, 2023 Jan 31, 2023 Oct 31, 2022 Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019
Cash and cash equivalents 3.55 3.46 3.82 3.46 3.70 3.91 4.69 5.44 4.32 3.55 4.68 5.63 4.80 6.03 6.58 9.57 9.66 7.03 5.71 7.12 6.41 4.00 3.59 3.95 3.95
Receivables, net 3.69 3.82 3.81 3.40 3.57 3.48 3.33 3.09 3.12 3.26 3.32 3.04 3.12 3.38 3.00 2.56 2.45 2.58 2.30 2.15 2.16 2.66 2.34 2.29 2.28
Inventories 21.90 21.64 24.03 21.86 21.80 21.75 24.67 22.23 23.23 23.26 26.13 24.24 24.88 23.08 23.48 20.02 19.61 17.80 20.67 17.31 17.70 18.79 21.49 18.79 19.08
Prepaid expenses and other 1.44 1.54 1.35 1.35 1.30 1.32 1.41 1.38 1.37 1.04 1.28 1.13 1.02 0.62 0.82 0.65 0.66 8.26 0.66 0.80 0.92 0.69 0.90 1.10 1.02
Current assets 30.59% 30.46% 33.01% 30.07% 30.37% 30.46% 34.10% 32.15% 32.04% 31.11% 35.40% 34.05% 33.81% 33.11% 33.88% 32.80% 32.37% 35.67% 29.34% 27.38% 27.19% 26.13% 28.32% 26.13% 26.32%
Property and equipment, net 46.22 46.01 44.27 44.73 43.89 43.90 41.47 41.05 41.76 41.43 39.39 38.84 38.49 38.60 37.67 38.41 38.46 36.52 40.75 42.62 43.74 44.49 43.50 44.57 44.60
Finance lease right-of-use assets, net 2.31 2.34 2.36 2.49 2.47 2.32 2.24 2.18 2.09 2.02 1.86 1.83 1.83 1.78 1.73 1.72 1.68 1.59 1.96 2.04 1.98 1.87 1.73 1.68 1.62
Property and equipment, including finance lease right-of-use assets, net 48.53% 48.35% 46.63% 47.22% 46.36% 46.22% 43.71% 43.23% 43.85% 43.45% 41.25% 40.66% 40.32% 40.38% 39.40% 40.13% 40.14% 38.10% 42.72% 44.66% 45.72% 46.35% 45.23% 46.25% 46.22%
Operating lease right-of-use assets 5.17 5.21 5.20 5.34 5.34 5.42 5.23 5.37 5.58 5.57 5.41 5.61 5.68 5.62 5.66 5.81 5.77 5.40 6.83 7.11 7.25 7.37 7.07 7.34 7.18
Goodwill 11.00 11.04 10.61 10.98 11.02 11.14 10.81 11.08 11.55 11.58 11.36 11.60 11.96 11.85 11.81 12.22 12.20 11.48 12.05 12.44 12.63 13.14 12.81 13.39 13.39
Other long-term assets 4.71 4.93 4.55 6.39 6.91 6.76 6.15 8.16 6.98 8.28 6.58 8.08 8.23 9.05 9.24 9.03 9.51 9.35 9.06 8.40 7.20 7.01 6.58 6.89 6.88
Long-term assets 69.41% 69.54% 66.99% 69.93% 69.63% 69.54% 65.90% 67.85% 67.96% 68.89% 64.60% 65.95% 66.19% 66.89% 66.12% 67.20% 67.63% 64.33% 70.66% 72.62% 72.81% 73.87% 71.68% 73.87% 73.68%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).

Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets shows a fluctuating pattern. It increased sharply from around 4% in early 2019 to a peak exceeding 9.5% by early 2021, indicating a buildup of liquidity during this period. Following this peak, there is a downward trend returning closer to the 3.5%-4% range by early 2025, suggesting a reduction in cash reserves over recent quarters.
Receivables, Net
This component exhibits a slight overall upward trend, increasing from approximately 2.3% to about 3.7% of total assets over the measurement period. The consistent growth may reflect expanded credit sales or increased customer balances outstanding.
Inventories
The inventory level as a percentage of total assets demonstrates variability but an overall increasing trend. Starting near 19% in 2019, it dips in some quarters before rising sharply to a high of over 26% by late 2022. Thereafter, it moderately declines but remains elevated around the 21%-24% range through early 2025, indicative of greater asset allocation in inventory.
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current asset balances appear mostly steady, around 1%. There is an anomalous spike to over 8% in January 2021, which likely represents a reporting or classification anomaly, as values quickly revert to typical levels afterward.
Current Assets
The percentage of current assets relative to total assets trends upward through 2020 and peaks at approximately 35.7% in January 2021. Following this, there is a gradual decline maintaining around 30%-33% into 2025, indicating fluctuations in short-term asset composition but overall stable current asset holdings as a portion of total assets.
Property and Equipment, Net
A declining trend is observed from about 44.6% of total assets in early 2019 to a low near 36.5% in early 2021. Afterwards, a recovery trend occurs, increasing steadily above 46% by 2025. This suggests periodic reductions in fixed assets, possibly due to divestments or impairments, followed by reinvestments or acquisitions.
Finance Lease Right-of-Use Assets, Net
This asset category grows modestly from approximately 1.6% to near 2.5% over the period, reflecting increased recognition of leased assets on the balance sheet in line with accounting standards.
Combined Property and Equipment Including Finance Lease Assets
The combined measure follows a similar pattern to property and equipment alone, falling from roughly 46% to around 38% by early 2021 and then steadily recovering to near 48.5% by early 2025, emphasizing the overall asset base's fixed asset recovery and growth after a trough.
Operating Lease Right-of-Use Assets
This asset class shows a slight decline from above 7% to around 5.2%-5.5% over the period, suggesting some reduction in operating lease assets or changes in lease portfolio composition.
Goodwill
Goodwill as a percentage of total assets decreases gradually from about 13.4% to near 11% by 2025, implying limited new acquisitions or possible impairments reducing the net goodwill balance.
Other Long-Term Assets
These assets fluctuate over time, peaking near 9.4% in early 2021, then generally declining to below 5% by early 2025, indicating possible disposals or reclassification of certain long-term assets.
Long-Term Assets Total
The long-term asset pool constitutes the majority of total assets, varying between roughly 64% and 74%. It experiences dips around 2021 with subsequent recovery, consistent with other fixed asset trends and asset portfolio restructuring during this timeframe.