Balance Sheet: Liabilities and Stockholders’ Equity
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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Walmart Inc. pages available for free this week:
- Balance Sheet: Assets
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
- Aggregate Accruals
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Walmart Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
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).
- Short-term borrowings
- The short-term borrowings display considerable volatility over the periods, with values ranging from a low of 224 million USD to a high surpassing 11 billion USD. Notable peaks occur around April 2022 and October 2023, indicating periods of increased short-term funding requirements. The fluctuations suggest the company intermittently relies on short-term debt for liquidity or operational needs, without a stable upward or downward trend.
- Accounts payable
- Accounts payable generally show an upward trend, increasing from approximately 45 billion USD in early 2019 to over 62 billion USD by late 2024, despite some intermittent declines. This rise indicates the company's growing obligations to suppliers and vendors, possibly reflecting increased purchasing activity or stretched payment terms.
- Dividends payable
- Dividends payable exhibit a consistent seasonal pattern with payments roughly every four quarters, typically ranging from about 1.5 billion USD to around 5.6 billion USD. The increasing peaks towards recent periods suggest a gradual growth in declared dividends over time, reflecting an increasing shareholder remuneration policy.
- Accrued liabilities
- Accrued liabilities fluctuate between approximately 20 billion USD and 31 billion USD through the periods. There is a generally stable pattern with episodic spikes, notably around early 2021 and extending through 2023, indicating occasional increases in accrued expenses or liabilities yet no persistent upward or downward trend.
- Accrued income taxes
- Accrued income taxes show variability with some notable spikes, such as the increase to 1.3 billion USD in April 2020 and April 2023. These elevated points likely correspond to tax payment periods or adjustments. Overall, the balance remains relatively low compared to other liabilities, showing no clear long-term trend.
- Long-term debt due within one year
- This metric reveals a fluctuating pattern mainly between 1.5 billion USD and over 5 billion USD, with occasional spikes around early 2020 and mid-2022. The variability suggests a changing schedule of debt maturities approaching within the year without a defined trend, reflecting shifting debt refinancing or repayment activity.
- Operating lease obligations due within one year
- The current portion of operating lease obligations remains relatively stable, fluctuating narrowly around approximately 1.4 to 1.5 billion USD throughout the periods, indicating predictable short-term lease commitments.
- Finance lease obligations due within one year
- Finance lease obligations due within one year show a gradually increasing trend, rising from around 435 million USD in early 2019 to over 800 million USD by the most recent periods. This increase suggests an expanding use of finance leases or growing short-term lease liabilities.
- Current liabilities
- Current liabilities exhibit general growth from nearly 80 billion USD in 2019 to above 102 billion USD in late 2024, with mild fluctuations. This growth reflects increased obligations that must be settled within a year, consistent with the rise in accounts payable and short-term borrowings.
- Long-term debt, excluding due within one year
- Long-term debt shows a declining trend from approximately 47.4 billion USD in early 2019 to about 33.6 billion USD by winter 2024, despite some fluctuations. This reduction suggests debt repayment or refinancing activities aimed at lowering long-term liabilities.
- Long-term operating lease obligations, excluding due within one year
- These obligations remain relatively stable around 12.8 to 16 billion USD, with minor variations, indicating consistent long-term operating lease commitments without significant growth or reduction.
- Long-term finance lease obligations, excluding due within one year
- A steady increase is observed, rising from about 3.8 billion USD to nearly 6 billion USD over the analyzed periods. This pattern may reflect growing reliance on finance leases for longer-term asset usage or capital structure.
- Deferred income taxes and other
- These items fluctuate modestly around 12.7 to 15.1 billion USD, with small cyclical variations but no clear directional trend, suggesting stable deferred tax positions and related liabilities.
- Long-term liabilities
- Long-term liabilities show a declining pattern, decreasing from roughly 79.7 billion USD in 2019 to around 66.8 billion USD in late 2024, suggesting overall reduction in long-term financial obligations over the interval.
- Total liabilities
- Total liabilities manifest fluctuations between approximately 154 billion USD and 173 billion USD, with an overall slightly increasing tendency culminating near the end of the series. This could be indicative of balancing between short-term and long-term liabilities.
- Redeemable noncontrolling interest
- Redeemable noncontrolling interest is mostly absent or zero in early periods, becoming evident from 2021 with small values around 200-300 million USD, showing gradual declines over time. This reflects minor stakes in entities that could be redeemed or bought back.
- Common stock
- Common stock value remains quite stable around 270-285 million USD until a jump to over 800 million USD in 2024, with minimal subsequent variation. The change likely indicates a stock reclassification, issuance, or split, rather than organic growth.
- Capital in excess of par value
- Capital in excess of par value increases with fluctuations, moving unevenly between approximately 2.7 billion USD and 5.5 billion USD. This volatility signals ongoing equity transactions such as stock issuance or treasury shares adjustments.
- Retained earnings
- Retained earnings show a cyclical pattern with some declines and recoveries but maintain a general upward trajectory from about 76 billion USD to over 98 billion USD by late 2024. This indicates sustained profitability and profit retention over time.
- Accumulated other comprehensive loss
- Accumulated other comprehensive loss deepens overall, rising from around -11 billion USD to approximately -13 billion USD with considerable fluctuations. This signals growing unrealized losses or valuation changes impacting equity.
- Total Walmart shareholders’ equity
- Shareholders’ equity fluctuates moderately from about 68 billion USD to over 91 billion USD with no clear trend in mid-periods, followed by stronger increases in later periods. This reflects retained earnings growth somewhat offset by comprehensive loss and equity transactions.
- Nonredeemable noncontrolling interest
- Nonredeemable noncontrolling interest remains relatively steady, fluctuating between 5.7 billion USD and 8.5 billion USD, suggesting stable minority ownership stakes without significant dilution or acquisition.
- Total shareholders’ equity
- Total shareholders’ equity presents a modest uptrend over time, increasing from around 75 billion USD in 2019 to almost 97 billion USD by late 2024, indicating strengthening equity position overall despite interim fluctuations.
- Total liabilities, redeemable noncontrolling interest, and shareholders’ equity
- This consolidated total exhibits some volatility but generally rises from about 234.5 billion USD to over 262 billion USD across the analyzed periods, aligned with the combined changes in liabilities and equity indicating gradual growth in the company's total financing and capital structure.