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Walmart Inc. (WMT)
Long-term Debt and Solvency Analysis
Difficulty: Beginner
Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.
Ratios (Summary)
Walmart Inc., debt and solvency ratios
Based on: 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), 10-K (filing date: 2015-04-01), 10-K (filing date: 2014-03-21).
| 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 deteriorated from 2017 to 2018 and from 2018 to 2019. |
| 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 deteriorated from 2017 to 2018 and from 2018 to 2019. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Walmart Inc.’s debt to assets ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Walmart Inc.’s financial leverage ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |
| Ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Walmart Inc.’s interest coverage ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |
| 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 deteriorated from 2017 to 2018 and from 2018 to 2019. |
Debt to Equity
Walmart Inc., debt to equity calculation, comparison to benchmarks
| Jan 31, 2019 | Jan 31, 2018 | Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | Jan 31, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term borrowings | |
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| Long-term debt due within one year | |
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| Capital lease and financing obligations due within one year | |
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| Long-term debt, excluding due within one year | |
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| Long-term capital lease and financing obligations, excluding due within one year | |
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| Total debt | |
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| Total Walmart shareholders’ equity | |
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| Ratio | |||||||
| Debt to equity1 | |
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| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Amazon.com Inc. | |
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| Costco Wholesale Corp. | |
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| eBay Inc. | |
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| Home Depot Inc. | |
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| Lowe’s Cos. Inc. | |
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| Netflix Inc. | |
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| Target Corp. | |
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| TJX Cos. Inc. | |
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| Debt to Equity, Sector | |||||||
| General Retailers | |
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| Debt to Equity, Industry | |||||||
| Consumer Services | |
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Based on: 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), 10-K (filing date: 2015-04-01), 10-K (filing date: 2014-03-21).
1 2019 Calculation
Debt to equity = Total debt ÷ Total Walmart shareholders’ equity
= ÷ =
2 Click competitor name to see calculations.
| 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 deteriorated from 2017 to 2018 and from 2018 to 2019. |
Debt to Capital
Walmart Inc., debt to capital calculation, comparison to benchmarks
| Jan 31, 2019 | Jan 31, 2018 | Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | Jan 31, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term borrowings | |
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| Long-term debt due within one year | |
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| Capital lease and financing obligations due within one year | |
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| Long-term debt, excluding due within one year | |
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| Long-term capital lease and financing obligations, excluding due within one year | |
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| Total debt | |
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| Total Walmart shareholders’ equity | |
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| Total capital | |
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| Ratio | |||||||
| Debt to capital1 | |
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| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Amazon.com Inc. | |
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| Costco Wholesale Corp. | |
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| eBay Inc. | |
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| Home Depot Inc. | |
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| Lowe’s Cos. Inc. | |
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| Netflix Inc. | |
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| Target Corp. | |
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| TJX Cos. Inc. | |
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| Debt to Capital, Sector | |||||||
| General Retailers | |
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| Debt to Capital, Industry | |||||||
| Consumer Services | |
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Based on: 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), 10-K (filing date: 2015-04-01), 10-K (filing date: 2014-03-21).
1 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =
2 Click competitor name to see calculations.
| 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 deteriorated from 2017 to 2018 and from 2018 to 2019. |
Debt to Assets
Walmart Inc., debt to assets calculation, comparison to benchmarks
| Jan 31, 2019 | Jan 31, 2018 | Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | Jan 31, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Short-term borrowings | |
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| Long-term debt due within one year | |
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| Capital lease and financing obligations due within one year | |
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| Long-term debt, excluding due within one year | |
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| Long-term capital lease and financing obligations, excluding due within one year | |
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| Total debt | |
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| Total assets | |
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| Ratio | |||||||
| Debt to assets1 | |
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| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Amazon.com Inc. | |
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| Costco Wholesale Corp. | |
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|
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| eBay Inc. | |
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| Home Depot Inc. | |
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| Lowe’s Cos. Inc. | |
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| Netflix Inc. | |
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| Target Corp. | |
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| TJX Cos. Inc. | |
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|
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| Debt to Assets, Sector | |||||||
| General Retailers | |
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| Debt to Assets, Industry | |||||||
| Consumer Services | |
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Based on: 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), 10-K (filing date: 2015-04-01), 10-K (filing date: 2014-03-21).
1 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
| 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 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Financial Leverage
Walmart Inc., financial leverage calculation, comparison to benchmarks
| Jan 31, 2019 | Jan 31, 2018 | Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | Jan 31, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Total assets | |
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| Total Walmart shareholders’ equity | |
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| Ratio | |||||||
| Financial leverage1 | |
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| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Amazon.com Inc. | |
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| Costco Wholesale Corp. | |
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| eBay Inc. | |
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| Home Depot Inc. | |
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| Lowe’s Cos. Inc. | |
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| Netflix Inc. | |
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| Target Corp. | |
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| TJX Cos. Inc. | |
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| Financial Leverage, Sector | |||||||
| General Retailers | |
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| Financial Leverage, Industry | |||||||
| Consumer Services | |
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Based on: 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), 10-K (filing date: 2015-04-01), 10-K (filing date: 2014-03-21).
1 2019 Calculation
Financial leverage = Total assets ÷ Total Walmart shareholders’ equity
= ÷ =
2 Click competitor name to see calculations.
| 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 deteriorated from 2017 to 2018 and from 2018 to 2019. |
Interest Coverage
Walmart Inc., interest coverage calculation, comparison to benchmarks
| Jan 31, 2019 | Jan 31, 2018 | Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | Jan 31, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Consolidated net income attributable to Walmart | |
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| Add: Net income attributable to noncontrolling interest | |
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| Less: Income from discontinued operations, net of income taxes | |
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| Add: Income tax expense | |
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| Add: Interest expense, debt, capital lease and financing obligations | |
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| Earnings before interest and tax (EBIT) | |
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|
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| Ratio | |||||||
| Interest coverage1 | |
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|
|
|
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Amazon.com Inc. | |
|
|
|
|
|
|
| Costco Wholesale Corp. | |
|
|
|
|
|
|
| eBay Inc. | |
|
|
|
|
|
|
| Home Depot Inc. | |
|
|
|
|
|
|
| Lowe’s Cos. Inc. | |
|
|
|
|
|
|
| Netflix Inc. | |
|
|
|
|
|
|
| Target Corp. | |
|
|
|
|
|
|
| TJX Cos. Inc. | |
|
|
|
|
|
|
| Interest Coverage, Sector | |||||||
| General Retailers | |
|
|
|
|
|
|
| Interest Coverage, Industry | |||||||
| Consumer Services | |
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|
Based on: 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), 10-K (filing date: 2015-04-01), 10-K (filing date: 2014-03-21).
1 2019 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =
2 Click competitor name to see calculations.
| Ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Walmart Inc.’s interest coverage ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |
Fixed Charge Coverage
Walmart Inc., fixed charge coverage calculation, comparison to benchmarks
| Jan 31, 2019 | Jan 31, 2018 | Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | Jan 31, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Consolidated net income attributable to Walmart | |
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| Add: Net income attributable to noncontrolling interest | |
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| Less: Income from discontinued operations, net of income taxes | |
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| Add: Income tax expense | |
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| Add: Interest expense, debt, capital lease and financing obligations | |
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| Earnings before interest and tax (EBIT) | |
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| Add: Rentals under operating leases and other short-term rental arrangements | |
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| Earnings before fixed charges and tax | |
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| Interest expense, debt, capital lease and financing obligations | |
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| Rentals under operating leases and other short-term rental arrangements | |
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| Fixed charges | |
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| Ratio | |||||||
| Fixed charge coverage1 | |
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| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Amazon.com Inc. | |
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|
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| Costco Wholesale Corp. | |
|
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|
|
|
|
| eBay Inc. | |
|
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|
|
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| Home Depot Inc. | |
|
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|
|
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| Lowe’s Cos. Inc. | |
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|
|
|
|
| Netflix Inc. | |
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|
|
|
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| Target Corp. | |
|
|
|
|
|
|
| TJX Cos. Inc. | |
|
|
|
|
|
|
| Fixed Charge Coverage, Sector | |||||||
| General Retailers | |
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| Fixed Charge Coverage, Industry | |||||||
| Consumer Services | |
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Based on: 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), 10-K (filing date: 2015-04-01), 10-K (filing date: 2014-03-21).
1 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =
2 Click competitor name to see calculations.
| 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 deteriorated from 2017 to 2018 and from 2018 to 2019. |