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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- Balance Sheet: Assets
- Common-Size Income Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Net Profit Margin since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
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Walmart Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-10-31), 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), 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 significant fluctuations over the periods analyzed. Initially, the values alternate between moderately high and low amounts without a clear trend until early 2022, after which there is a sharp spike reaching over 11,000 million USD, followed by a drop and further variability. The most recent periods show elevated levels compared to earlier years, indicating variability in the company's short-term financing approach.
- Accounts payable
- This liability item shows a generally upward trend throughout the periods, moving from approximately 45,000 million USD in 2019 to over 67,000 million USD by late 2025. This suggests growing operational scale or extended payment cycles to suppliers.
- Dividends payable
- Dividends payable demonstrate a seasonal pattern with recurrent values appearing periodically and increasing gradually from about 1,500-4,500 million USD range to higher amounts near 1,900-5,600 million USD by 2025, reflecting an incremental but steady growth in declared dividends.
- Accrued liabilities
- Accrued liabilities remain relatively stable with minor variations but exhibit a notable spike in early 2020 and some increase towards the later periods. Values fluctuate mainly between 20,000 and 31,000 million USD, indicating slight increases in accrued expenses or obligations over time.
- Accrued income taxes
- Accrued income taxes show irregular patterns with some sharp peaks in early 2020 and periods around 2023 to 2025. The amounts swing between low hundreds to over 1,400 million USD, suggesting volatility in tax expense estimation or payments.
- Long-term debt due within one year
- This item experiences considerable variation, reaching highs above 5,000 million USD around 2020 and 2022, followed by declines. The trend suggests active debt management and refinancing with repayments and new issuances impacting short-term portions of long-term borrowings.
- Operating lease obligations due within one year
- Operating lease obligations remain relatively constant, oscillating mildly within the range of approximately 1,400 to 1,600 million USD, indicating stable lease commitments under one year.
- Finance lease obligations due within one year
- Finance lease obligations show a steady incline, progressing from about 435 million USD to over 840 million USD, reflecting potentially increasing capital leases assumed by the company.
- Current liabilities
- Current liabilities exhibit moderate growth overall with cyclical fluctuations, moving from near 80,000 million USD at the beginning to above 115,000 million USD by 2025. This upward movement points to increasing short-term obligations, consistent with growth in payable accounts and other current liabilities.
- Long-term debt, excluding due within one year
- Long-term debt shows a downward trend from above 47,000 million USD in 2019 to the mid-30,000 million USD level by 2025, suggesting scheduled repayments or debt retirements exceeding new issuance during this period.
- Long-term operating lease obligations, excluding due within one year
- These obligations remain relatively stable with slight decreases and increases around the 12,500 to 16,000 million USD range, indicating consistent long-term leasing commitments.
- Long-term finance lease obligations, excluding due within one year
- Long-term finance lease obligations increase steadily from about 3,800 million USD to nearly 6,000 million USD, consistent with increased use of finance leases for long-term assets.
- Deferred income taxes and other
- Deferred income taxes and other liabilities fluctuate modestly but mainly remain between 12,700 and 16,300 million USD, showing no strong trend but indicating ongoing deferred tax obligations and miscellaneous liabilities.
- Long-term liabilities
- Overall, long-term liabilities slightly decline from approximately 79,700 million USD to around 70,400 million USD, marking a modest reduction in long-term obligations excluding current maturities, reflecting debt repayments and possibly changes in lease commitments.
- Total liabilities
- Total liabilities demonstrate fluctuations but generally move upward across the timeframe, increasing from roughly 159,600 million USD in 2019 to in excess of 186,000 million USD by 2025, showing expanded leverage and obligations aligned with company growth.
- Redeemable noncontrolling interest
- Redeemable noncontrolling interests appear only in the later periods, showing a gradual decline from 310 million USD to around 189 million USD before rising back to approximately 307 million USD, indicating minor participation by third parties that changes over time.
- Common stock
- Common stock values are mostly stable from 2019 through most periods, around 280 million USD, but there is an anomalous jump to over 800 million USD around 2024, which could indicate a stock split, repurchase adjustment, or other equity issuance activity.
- Capital in excess of par value
- This equity component generally trends upward, increasing from approximately 2,700 million USD to nearly 6,900 million USD, implying continual equity raises or revaluation increases net of any reductions.
- Retained earnings
- Retained earnings fluctuate significantly; early periods show consistent growth, then declines around 2022, followed by renewed growth leading to exceeding 100,000 million USD by 2025. This reflects accumulation of profits retained within the company with some variability possibly due to dividend policies or net income fluctuations.
- Accumulated other comprehensive loss
- Accumulated other comprehensive loss remains negative throughout, with values oscillating between around -7,900 million USD and nearly -13,600 million USD. The data suggests ongoing losses recognized outside the income statement, potentially linked to foreign currency translation or unrealized losses on investments.
- Total Walmart shareholders’ equity
- Shareholders’ equity shows variability with initial growth followed by periods of decline and recovery. The data moves from approximately 68,000 million USD to over 96,000 million USD, indicating overall equity growth with some fluctuations possibly related to earnings, dividends, or share issuance.
- Nonredeemable noncontrolling interest
- Nonredeemable noncontrolling interest values fluctuate moderately around 6,000 to 8,500 million USD with some decline towards the latest periods, indicating changes in minority ownership stakes in consolidated subsidiaries.
- Total shareholders’ equity
- Total shareholders’ equity mirrors the trends in equity components, gradually increasing from roughly 75,000 million USD to above 102,000 million USD, suggesting strengthening net worth despite some short-term declines.
- Total liabilities, redeemable noncontrolling interest, and shareholders’ equity
- The combined total shows steady growth from about 234,500 million USD to nearly 289,000 million USD, reflecting expansion in the company’s balance sheet across liabilities and equity.