Stock Analysis on Net
Stock Analysis on Net

Walmart Inc. (NYSE:WMT)

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Analysis of Solvency Ratios

Microsoft Excel LibreOffice Calc

Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.

Solvency Ratios (Summary)

Walmart Inc., solvency ratios

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (filing date: 2021-03-19), 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Walmart Inc.’s debt to equity ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Walmart Inc.’s debt to equity ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Walmart Inc.’s debt to capital ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Walmart Inc.’s debt to capital ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Walmart Inc.’s debt to assets ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Walmart Inc.’s debt to assets ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Walmart Inc.’s financial leverage ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021.
Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Walmart Inc.’s interest coverage ratio improved from 2019 to 2020 and from 2020 to 2021.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Walmart Inc.’s fixed charge coverage ratio improved from 2019 to 2020 and from 2020 to 2021.

Debt to Equity

Walmart Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings
Long-term debt due within one year
Finance lease obligations due within one year
Capital lease and financing obligations due within one year
Long-term debt, excluding due within one year
Long-term finance lease obligations, excluding due within one year
Long-term capital lease and financing obligations, excluding due within one year
Total debt
 
Total Walmart shareholders’ equity
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Costco Wholesale Corp.
Debt to Equity, Sector
Food & Staples Retailing
Debt to Equity, Industry
Consumer Staples

Based on: 10-K (filing date: 2021-03-19), 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30).

1 2021 Calculation
Debt to equity = Total debt ÷ Total Walmart shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Walmart Inc.’s debt to equity ratio improved from 2019 to 2020 and from 2020 to 2021.

Debt to Equity (including Operating Lease Liability)

Walmart Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings
Long-term debt due within one year
Finance lease obligations due within one year
Capital lease and financing obligations due within one year
Long-term debt, excluding due within one year
Long-term finance lease obligations, excluding due within one year
Long-term capital lease and financing obligations, excluding due within one year
Total debt
Operating lease obligations due within one year
Long-term operating lease obligations, excluding due within one year
Total debt (including operating lease liability)
 
Total Walmart shareholders’ equity
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Costco Wholesale Corp.
Debt to Equity (including Operating Lease Liability), Sector
Food & Staples Retailing
Debt to Equity (including Operating Lease Liability), Industry
Consumer Staples

Based on: 10-K (filing date: 2021-03-19), 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30).

1 2021 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Walmart shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Walmart Inc.’s debt to equity ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Debt to Capital

Walmart Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings
Long-term debt due within one year
Finance lease obligations due within one year
Capital lease and financing obligations due within one year
Long-term debt, excluding due within one year
Long-term finance lease obligations, excluding due within one year
Long-term capital lease and financing obligations, excluding due within one year
Total debt
Total Walmart shareholders’ equity
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Costco Wholesale Corp.
Debt to Capital, Sector
Food & Staples Retailing
Debt to Capital, Industry
Consumer Staples

Based on: 10-K (filing date: 2021-03-19), 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30).

1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Walmart Inc.’s debt to capital ratio improved from 2019 to 2020 and from 2020 to 2021.

Debt to Capital (including Operating Lease Liability)

Walmart Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings
Long-term debt due within one year
Finance lease obligations due within one year
Capital lease and financing obligations due within one year
Long-term debt, excluding due within one year
Long-term finance lease obligations, excluding due within one year
Long-term capital lease and financing obligations, excluding due within one year
Total debt
Operating lease obligations due within one year
Long-term operating lease obligations, excluding due within one year
Total debt (including operating lease liability)
Total Walmart shareholders’ equity
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Costco Wholesale Corp.
Debt to Capital (including Operating Lease Liability), Sector
Food & Staples Retailing
Debt to Capital (including Operating Lease Liability), Industry
Consumer Staples

Based on: 10-K (filing date: 2021-03-19), 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30).

1 2021 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Walmart Inc.’s debt to capital ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Debt to Assets

Walmart Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings
Long-term debt due within one year
Finance lease obligations due within one year
Capital lease and financing obligations due within one year
Long-term debt, excluding due within one year
Long-term finance lease obligations, excluding due within one year
Long-term capital lease and financing obligations, excluding due within one year
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Costco Wholesale Corp.
Debt to Assets, Sector
Food & Staples Retailing
Debt to Assets, Industry
Consumer Staples

Based on: 10-K (filing date: 2021-03-19), 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30).

1 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Walmart Inc.’s debt to assets ratio improved from 2019 to 2020 and from 2020 to 2021.

Debt to Assets (including Operating Lease Liability)

Walmart Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings
Long-term debt due within one year
Finance lease obligations due within one year
Capital lease and financing obligations due within one year
Long-term debt, excluding due within one year
Long-term finance lease obligations, excluding due within one year
Long-term capital lease and financing obligations, excluding due within one year
Total debt
Operating lease obligations due within one year
Long-term operating lease obligations, excluding due within one year
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Costco Wholesale Corp.
Debt to Assets (including Operating Lease Liability), Sector
Food & Staples Retailing
Debt to Assets (including Operating Lease Liability), Industry
Consumer Staples

Based on: 10-K (filing date: 2021-03-19), 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30).

1 2021 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Walmart Inc.’s debt to assets ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Financial Leverage

Walmart Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
Selected Financial Data (US$ in millions)
Total assets
Total Walmart shareholders’ equity
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Costco Wholesale Corp.
Financial Leverage, Sector
Food & Staples Retailing
Financial Leverage, Industry
Consumer Staples

Based on: 10-K (filing date: 2021-03-19), 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30).

1 2021 Calculation
Financial leverage = Total assets ÷ Total Walmart shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Walmart Inc.’s financial leverage ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021.

Interest Coverage

Walmart Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
Selected Financial Data (US$ in millions)
Consolidated net income attributable to Walmart
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense, debt, finance, capital lease and financing obligations
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Costco Wholesale Corp.
Interest Coverage, Sector
Food & Staples Retailing
Interest Coverage, Industry
Consumer Staples

Based on: 10-K (filing date: 2021-03-19), 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30).

1 2021 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Walmart Inc.’s interest coverage ratio improved from 2019 to 2020 and from 2020 to 2021.

Fixed Charge Coverage

Walmart Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
Selected Financial Data (US$ in millions)
Consolidated net income attributable to Walmart
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense, debt, finance, capital lease and financing obligations
Earnings before interest and tax (EBIT)
Add: Operating lease cost
Earnings before fixed charges and tax
 
Interest expense, debt, finance, capital lease and financing obligations
Operating lease cost
Fixed charges
Solvency Ratio
Fixed charge coverage1
Benchmarks
Fixed Charge Coverage, Competitors2
Costco Wholesale Corp.
Fixed Charge Coverage, Sector
Food & Staples Retailing
Fixed Charge Coverage, Industry
Consumer Staples

Based on: 10-K (filing date: 2021-03-19), 10-K (filing date: 2020-03-20), 10-K (filing date: 2019-03-28), 10-K (filing date: 2018-03-30), 10-K (filing date: 2017-03-31), 10-K (filing date: 2016-03-30).

1 2021 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Walmart Inc.’s fixed charge coverage ratio improved from 2019 to 2020 and from 2020 to 2021.