Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Walmart Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 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), 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).
- Short-term borrowings
- The proportion fluctuates significantly over the periods, ranging from a low of 0.09% to a peak of 4.64%. The data indicates sporadic increases, particularly notable around early 2022, followed by declines and intermittent rises through 2024 and 2025.
- Accounts payable
- This liability remains a substantial portion of the total, consistently around 19–24%. A gradual upward trend is observable over time, with peaks near 23.87% and generally maintaining a relatively stable share within the liabilities and equity mix.
- Dividends payable
- The values show a recurring seasonal pattern, oscillating between approximately 0.59% and 2.16%. The data points often appear missing in some quarters, suggesting potential periodic reporting or payment timing variations. Overall, the range remains fairly consistent without a significant trend change.
- Accrued liabilities
- The component typically ranges between 8.5% and 15%. A pronounced spike up to 15.04% occurs in early 2021, but otherwise, values remain within the lower teens. The pattern suggests an occasional buildup followed by normalization, maintaining a moderate share of total liabilities and equity.
- Accrued income taxes
- These fluctuate at low levels under 1%, with occasional spikes around 0.56%. The variation shows no clear long-term trend but indicates episodic increases potentially aligned with tax payment schedules or adjustments.
- Long-term debt due within one year
- The short-term portion of long-term debt generally ranges from about 0.59% to 2.57%. Periodic increases are evident but lack a steady upward or downward trajectory, implying variable refinancing or debt maturity patterns.
- Operating lease obligations due within one year
- This obligation displays a fairly steady presence, maintaining levels close to 0.57%–0.76%. The slight decline over time points to stable but marginally decreasing lease commitments maturing within one year.
- Finance lease obligations due within one year
- A gradual increase over the periods is noticeable, rising from 0.19% to about 0.33%. This suggests growing short-term finance lease liabilities, reflecting possibly increased leasing activities or changes in accounting treatment.
- Current liabilities
- Current liabilities constitute approximately 33% to 41% of total liabilities and equity, showing a mild upward trend with occasional declines. A notable peak around mid-2022 corresponds to higher accrued and payable liabilities during those quarters.
- Long-term debt, excluding due within one year
- There is a gradual decrease observed from about 20% in 2019 down to around 12.77% in late 2024, followed by a slight rebound to approximately 13.92%. This suggests a reduction in long-term debt levels over the analyzed periods, possibly reflecting debt repayments or restructuring.
- Long-term operating lease obligations, excluding due within one year
- A downward trend is evident, declining gradually from 6.7% to about 4.86%. This decrease may indicate lease terminations, renewals with shorter durations, or changes in lease accounting policies.
- Long-term finance lease obligations, excluding due within one year
- A steady increase from 1.62% to approximately 2.42% is apparent. This reflects a growth in longer-term finance leasing commitments that may be related to investment or asset acquisition strategies.
- Deferred income taxes and other
- This category remains fairly stable between 5.19% and 6.04% across periods, showing minor fluctuations without clear directional movement, indicating consistent tax-related deferred liabilities and other obligations.
- Long-term liabilities
- Long-term liabilities show a moderate downward trend, descending from 34% to around 25%, before modestly fluctuating near that level. The reduction suggests gradual repayment or restructuring of long-term obligations.
- Total liabilities
- Total liabilities comprise the majority of the capital structure, typically around 62% to 68%. Fluctuations exist but maintain a broad stability, indicating consistent leverage with minor variations attributable to the mix of current and long-term liabilities.
- Redeemable noncontrolling interest
- Data for this category begins late in the series, revealing a slight decline from 0.12% to 0.07%, but remains a very small fraction of total capital, suggesting minimal impact on the financial structure.
- Common stock
- This component remains negligible and stable around 0.11% to 0.32%, with a small increase noted in the later periods. The minimal size reflects limited common stock relative to the company's overall capital base.
- Capital in excess of par value
- There is a gradual upward trend from 1.17% to around 2.11%, with some fluctuations. This increase indicates accumulation of additional paid-in capital over time, possibly from equity issuances or retained capital enhancements.
- Retained earnings
- Retained earnings fluctuate within the 31% to 37% range. The data shows periodic declines and recoveries without a clear linear trend, suggesting ongoing earnings retention balanced with dividend distributions or other equity adjustments.
- Accumulated other comprehensive loss
- This negative component ranges between approximately -6.94% and -3.34%. It displays volatility, with no consistent trend but generally remains a modest detractor from overall equity, likely reflecting fluctuating unrealized losses or other comprehensive income items.
- Total Walmart shareholders’ equity
- Equity varies between 29.08% and 34.89% over time, exhibiting cyclical variations without a sustained directional trend. The share of equity in total capital indicates a relatively stable equity base in proportion to liabilities.
- Nonredeemable noncontrolling interest
- This segment ranges between about 2.26% and 3.54%, showing some variability but generally remains a small portion of total capitalization, indicating minor minority interest influence.
- Total shareholders’ equity
- Total equity maintains a stable proportion near 32% to 37% of the capital structure, demonstrating consistent equity investment relative to liabilities and indicating balanced leverage over the analyzed timeframe.
- Overall Capital Structure
- The company’s capital structure remains balanced, with liabilities accounting for approximately two-thirds and equity constituting about one-third throughout the periods. Current liabilities present modest increases and fluctuations, while long-term liabilities generally trend downward, reflecting strategic debt management. Lease obligations show mixed movements with declining operating leases and rising finance leases, signaling shifts in lease arrangements. Equity components, including retained earnings and capital in excess of par, display moderate growth and stability, supporting a solid shareholder equity position despite occasional comprehensive loss fluctuations.