Balance Sheet: Assets
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.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to 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: assets (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).
Total assets exhibit a long-term growth trajectory, increasing from 232,892 million US dollars in April 2020 to 293,914 million US dollars by July 2026. This expansion is primarily driven by a sustained increase in long-term investments and strategic shifts in current asset composition.
- Current Asset Dynamics
- Current assets demonstrate periodic volatility but a general upward trend, ending the period at 88,703 million US dollars. A significant shift is observed in the composition of these assets; cash and cash equivalents peaked at 22,846 million US dollars in April 2021 before entering a gradual decline to a stabilized range between 9,000 and 11,000 million US dollars in the latter years. Conversely, net receivables grew consistently from 5,029 million US dollars to 11,075 million US dollars, indicating an expansion in credit-based operations.
- Inventories show a marked increase, rising from 41,217 million US dollars in April 2020 to a peak of 65,354 million US dollars in October 2024. The data reveals a recurring seasonal pattern where inventory levels typically spike in the fourth quarter of the calendar year, reflecting preparations for peak retail demand.
- Long-Term Asset Expansion
- The most substantial growth is observed in property and equipment, net, which rose from 101,872 million US dollars in April 2020 to 142,482 million US dollars by July 2026. This consistent upward trend suggests significant and continuous capital expenditure in physical infrastructure and operational capacity.
- Right-of-use assets, including both finance and operating leases, remained relatively stable throughout the period. Operating lease right-of-use assets fluctuated within a narrow band, generally ranging between 13,000 and 15,000 million US dollars, while finance lease right-of-use assets saw a modest increase from 4,611 million US dollars to 6,178 million US dollars.
- Goodwill remained remarkably stable, fluctuating minimally around the 28,000 to 30,000 million US dollar mark, suggesting a lack of major acquisitions or significant impairment charges during this timeframe.
- Overall Asset Composition Trends
- The balance sheet reflects a transition toward a more asset-heavy structure. The growth in total assets is disproportionately driven by long-term physical assets rather than liquid cash reserves. While total assets grew by approximately 26% over the analyzed period, the decline in cash reserves suggests a strategic reallocation of liquidity toward inventory accumulation and infrastructure investment.