Balance Sheet: Assets
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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- Statement of Comprehensive Income
- Common-Size Income Statement
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Dividend Discount Model (DDM)
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
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Walmart Inc., consolidated balance sheet: assets
US$ in millions
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).
- Cash and Cash Equivalents
- The cash and cash equivalents showed an initial increase from 9,465 million USD in 2020 to 17,741 million USD in 2021. Subsequently, there was a decline to 8,625 million USD by 2023, followed by a slight recovery reaching 9,867 million USD in 2024, then a minor decrease to 9,037 million USD in 2025. This indicates a degree of volatility in liquid assets over the reviewed period.
- Receivables, Net
- Net receivables generally demonstrated an upward trend, growing from 6,284 million USD in 2020 to 9,975 million USD in 2025. This steady increase suggests rising credit sales or extended payment terms to customers.
- Inventories
- Inventories increased from 44,435 million USD in 2020 to a peak of 56,576 million USD in 2023. Thereafter, a slight reduction occurred, ending at 56,435 million USD in 2025. The overall elevation in inventory levels indicates stock buildup that may align with sales growth or strategic inventory management.
- Prepaid Expenses and Other
- Prepaid expenses and other current assets fluctuated extensively, with a large spike in 2021 reaching 20,861 million USD, followed by a sharp decline to around 1,500-4,000 million USD in subsequent years. This anomalous value in 2021 may represent a one-time adjustment or reclassification, while other years reflect more stable, moderate levels.
- Current Assets
- Total current assets expanded significantly in 2021 to 90,067 million USD from 61,806 million USD in 2020, then gradually declined to 75,655 million USD in 2023 before increasing slightly to 79,458 million USD in 2025. The 2021 surge correlates with the spike in prepaid expenses, impacting overall liquidity figures.
- Property and Equipment, Net
- Property and equipment net values decreased from 105,208 million USD in 2020 to a low of 92,201 million USD in 2021, then consistently rose reaching 119,993 million USD by 2025. This sustained growth from 2022 onwards reflects ongoing capital investment and asset expansion.
- Finance Lease Right-of-Use Assets, Net
- Finance lease right-of-use assets exhibited moderate fluctuations, declining slightly in 2021, then increasing steadily from 4,351 million USD in 2022 to 6,112 million USD in 2025, indicating a rising adoption or capitalization of finance leases.
- Property and Equipment Including Finance Lease Right-of-Use Assets, Net
- The combined figure mirrors patterns seen in property and equipment and finance lease assets, declining in 2021 followed by consistent growth through 2025, growing from 109,625 million USD in 2020 to 126,105 million USD in 2025.
- Operating Lease Right-of-Use Assets
- Operating lease right-of-use assets decreased from 17,424 million USD in 2020 to around 13,600 million USD by 2025, stabilizing after 2021. This trend indicates possible lease terminations, renegotiations, or a reduction in operating lease obligations.
- Goodwill
- Goodwill remained relatively stable, with a slight decline from 31,073 million USD in 2020 to a low of 28,113 million USD in 2024, followed by a minor increase to 28,792 million USD in 2025. The modest changes suggest limited impairment or acquisition activity affecting goodwill.
- Other Long-Term Assets
- Other long-term assets peaked at 23,598 million USD in 2021, but subsequently declined steadily to 12,869 million USD in 2025. This downward trend may indicate asset divestitures, amortization, or reclassification of assets to other categories.
- Long-Term Assets
- Long-term assets decreased from 174,689 million USD in 2020 to 162,429 million USD in 2021 but recovered gradually to 181,365 million USD by 2025. This recovery and growth reflect increased capital expenditures and asset acquisition after the 2021 dip.
- Total Assets
- Total assets rose from 236,495 million USD in 2020 to a peak of 252,496 million USD in 2021, then slightly declined to 243,197 million USD in 2023 before increasing steadily to reach 260,823 million USD in 2025. This trend indicates overall growth with some variability, corresponding to movements in current and long-term asset components.