Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Paying user area
Try for free
Walmart Inc. pages available for free this week:
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Walmart Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Walmart Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity
Based on: 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).
- Short-term borrowings
- The proportion of short-term borrowings relative to the total liabilities and equity remained low between 2020 and 2023, fluctuating between 0.09% and 0.35%, but showed a notable increase in 2025, reaching 1.18%. This indicates an increased reliance on short-term borrowing in the most recent period.
- Accounts payable
- Accounts payable consistently constituted a significant portion of total liabilities and equity, ranging from 19.46% in 2021 to a peak of 22.57% in 2022, maintaining around 22.5% in subsequent years. This denotes a stable and prominent role of accounts payable in the company's liability structure.
- Accrued wages and benefits
- This liability increased gradually from 2.58% in 2020 to a peak of 3.41% in 2023, followed by a slight decline to 3.03% in 2025, reflecting fluctuating but generally growing obligations related to employee compensation.
- Self-insurance
- The self-insurance component showed minimal change over the years, remaining steady near 1.9% with negligible fluctuations, indicating a consistent self-insurance liability position.
- Accrued non-income taxes
- This liability item showed a slight upward trend from 1.29% in 2020 to 1.41% in 2023, then a small decrease to 1.34% in 2025, implying relatively stable tax-related accruals.
- Opioid litigation settlement
- Recorded only in 2023 at 1.21%, this item introduces a notable one-time liability burden during the period, absent in other years.
- Deferred gift card revenue
- This liability grew gradually from 0.84% in 2020 to 1.06% in 2024 and remained stable through 2025, indicating increasing unearned revenue from gift cards.
- Other current liabilities
- The "Other" category showed volatility, spiking sharply in 2021 to 7.91% from 2.84% in 2020, then declining and stabilizing around 3.6% to 3.9% afterward, suggesting a significant but temporary increase in miscellaneous liabilities.
- Accrued liabilities
- Accrued liabilities increased substantially from 9.43% in 2020 to a high of 15.04% in 2021, followed by a decline and relative stabilization around 11.25% to 12.8% in the later years, indicating a peak in accrued expenses during 2021 with subsequent moderation.
- Accrued income taxes
- These liabilities fluctuated at relatively low levels, with values between 0.1% and 0.35%, showing no consistent trend but a modest variability.
- Long-term debt due within one year
- This component declined steadily from 2.27% in 2020 to 1% in 2025, indicating a reduction in short-term maturities of long-term debt and possibly debt refinancing or repayment.
- Operating lease obligations due within one year
- Lease obligations remained fairly stable, showing a mild decreasing trend from 0.76% in 2020 to 0.57% in 2025, suggesting modest reductions in lease liabilities due within one year.
- Finance lease obligations due within one year
- These obligations increased slightly over the period, from 0.22% in 2020 to 0.31% in 2025, indicating a gradual increase in finance lease liabilities maturing within one year.
- Current liabilities total
- Current liabilities as a whole fluctuated around the mid-30% range, increasing from 32.89% in 2020 to a peak of 37.91% in 2023, then slightly decreasing but remaining above 36% by 2025, demonstrating an overall rise in current obligations.
- Long-term debt excluding current portion
- There was a consistent decline in this long-term debt portion from 18.48% in 2020 to 12.81% in 2025, suggesting a sustained effort to reduce long-term debt burden excluding short-term maturities.
- Long-term operating lease obligations excluding current portion
- This metric decreased gradually from 6.84% in 2020 to 4.92% in 2025, reflecting a reduction in long-term operating lease liabilities.
- Long-term finance lease obligations excluding current portion
- In contrast, long-term finance lease obligations increased steadily from 1.82% in 2020 up to 2.27% in 2025, highlighting a growing reliance on long-term finance leases.
- Deferred income taxes and other long-term liabilities
- This category remained relatively stable between approximately 5.48% and 6.04% over the period, indicating a consistent deferred tax and other long-term liability profile.
- Total long-term liabilities
- Total long-term liabilities declined from 32.62% in 2020 to 25.51% in 2025, signaling a notable overall reduction in long-term obligations.
- Total liabilities
- Total liabilities moderately decreased from 65.52% in 2020 to 62.54% in 2025, demonstrating a slight decline in the overall debt and liabilities proportion relative to the total capital structure.
- Redeemable noncontrolling interest
- This component first appeared in 2023 at a minimal level around 0.1%, remaining stable thereafter, indicating a new although small source of capital or liability.
- Common stock
- The percentage of common stock showed little change until 2024, when it rose sharply from 0.11% to 0.32%, stabilizing thereafter, implying an increase in common stock relative to total financing.
- Capital in excess of par value
- Capital in excess of par value showed a steady increase from 1.37% in 2020 to a peak of 2.11% in 2025, apart from a dip in 2024, indicating growth in additional paid-in capital.
- Retained earnings
- This account remained the largest portion of shareholders’ equity, hovering around 35%, with a slight decline in 2023 followed by an increase to 37.69% in 2025, reflecting overall retained profitability and accumulation of earnings.
- Accumulated other comprehensive loss
- The accumulated comprehensive loss amounted to a negative 5.41% in 2020, lessening somewhat to -3.58% in 2022 before deepening again to around -5.22% by 2025, displaying volatility and persistent negative valuation adjustments.
- Total Walmart shareholders’ equity
- Shareholders’ equity as a percentage of total capital fluctuated between 31.54% and 34.89%, showing a general increase towards 2025, reflecting strengthening equity position relative to liabilities.
- Nonredeemable noncontrolling interest
- Nonredeemable noncontrolling interest was relatively minor and fluctuated modestly between 2.46% and 3.53%, without a clear trend.
- Total shareholders’ equity
- Total equity increased from 34.48% in 2020 to 37.35% in 2025, supporting the observation of enhanced equity financing over the period relative to liabilities.
- Overall capital structure
- The aggregate of liabilities, redeemable noncontrolling interest, and shareholders’ equity consistently totaled 100%, indicating a stable capital structure allocation framework. Over the period analyzed, there is a discernible trend toward reducing long-term debt while maintaining or slightly increasing equity proportions, accompanied by steady current liabilities and evolving lease obligations.