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Analysis of Solvency Ratios
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
Based on: 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), 10-K (filing date: 2015-04-01).
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 deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020. |
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 2018 to 2019 and from 2019 to 2020. |
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 2018 to 2019 but then slightly improved from 2019 to 2020. |
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 2018 to 2019 and from 2019 to 2020. |
Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Walmart Inc.’s debt to assets ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 not reaching 2018 level. |
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 2018 to 2019 and from 2019 to 2020. |
Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Walmart Inc.’s financial leverage ratio increased from 2018 to 2019 and from 2019 to 2020. |
Solvency 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 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level. |
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 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level. |
Debt to Equity
Walmart Inc., debt to equity calculation, comparison to benchmarks
Jan 31, 2020 | Jan 31, 2019 | Jan 31, 2018 | Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | ||
---|---|---|---|---|---|---|---|
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 | |||||||
Amazon.com Inc. | |||||||
Costco Wholesale Corp. | |||||||
Dollar General Corp. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
Target Corp. | |||||||
TJX Cos. Inc. | |||||||
Debt to Equity, Sector | |||||||
General Retailers | |||||||
Debt to Equity, Industry | |||||||
Consumer Services |
Based on: 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), 10-K (filing date: 2015-04-01).
1 2020 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 deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020. |
Debt to Equity (including Operating Lease Liability)
Walmart Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
Jan 31, 2020 | Jan 31, 2019 | Jan 31, 2018 | Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | ||
---|---|---|---|---|---|---|---|
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 | |||||||
Amazon.com Inc. | |||||||
Costco Wholesale Corp. | |||||||
Dollar General Corp. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
Target Corp. | |||||||
TJX Cos. Inc. | |||||||
Debt to Equity (including Operating Lease Liability), Sector | |||||||
General Retailers | |||||||
Debt to Equity (including Operating Lease Liability), Industry | |||||||
Consumer Services |
Based on: 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), 10-K (filing date: 2015-04-01).
1 2020 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 2018 to 2019 and from 2019 to 2020. |
Debt to Capital
Walmart Inc., debt to capital calculation, comparison to benchmarks
Jan 31, 2020 | Jan 31, 2019 | Jan 31, 2018 | Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | ||
---|---|---|---|---|---|---|---|
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 | |||||||
Amazon.com Inc. | |||||||
Costco Wholesale Corp. | |||||||
Dollar General Corp. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
Target Corp. | |||||||
TJX Cos. Inc. | |||||||
Debt to Capital, Sector | |||||||
General Retailers | |||||||
Debt to Capital, Industry | |||||||
Consumer Services |
Based on: 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), 10-K (filing date: 2015-04-01).
1 2020 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 deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020. |
Debt to Capital (including Operating Lease Liability)
Walmart Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
Jan 31, 2020 | Jan 31, 2019 | Jan 31, 2018 | Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | ||
---|---|---|---|---|---|---|---|
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 | |||||||
Amazon.com Inc. | |||||||
Costco Wholesale Corp. | |||||||
Dollar General Corp. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
Target Corp. | |||||||
TJX Cos. Inc. | |||||||
Debt to Capital (including Operating Lease Liability), Sector | |||||||
General Retailers | |||||||
Debt to Capital (including Operating Lease Liability), Industry | |||||||
Consumer Services |
Based on: 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), 10-K (filing date: 2015-04-01).
1 2020 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 2018 to 2019 and from 2019 to 2020. |
Debt to Assets
Walmart Inc., debt to assets calculation, comparison to benchmarks
Jan 31, 2020 | Jan 31, 2019 | Jan 31, 2018 | Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | ||
---|---|---|---|---|---|---|---|
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 | |||||||
Amazon.com Inc. | |||||||
Costco Wholesale Corp. | |||||||
Dollar General Corp. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
Target Corp. | |||||||
TJX Cos. Inc. | |||||||
Debt to Assets, Sector | |||||||
General Retailers | |||||||
Debt to Assets, Industry | |||||||
Consumer Services |
Based on: 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), 10-K (filing date: 2015-04-01).
1 2020 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 deteriorated from 2018 to 2019 but then improved from 2019 to 2020 not reaching 2018 level. |
Debt to Assets (including Operating Lease Liability)
Walmart Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
Jan 31, 2020 | Jan 31, 2019 | Jan 31, 2018 | Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | ||
---|---|---|---|---|---|---|---|
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 | |||||||
Amazon.com Inc. | |||||||
Costco Wholesale Corp. | |||||||
Dollar General Corp. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
Target Corp. | |||||||
TJX Cos. Inc. | |||||||
Debt to Assets (including Operating Lease Liability), Sector | |||||||
General Retailers | |||||||
Debt to Assets (including Operating Lease Liability), Industry | |||||||
Consumer Services |
Based on: 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), 10-K (filing date: 2015-04-01).
1 2020 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 2018 to 2019 and from 2019 to 2020. |
Financial Leverage
Walmart Inc., financial leverage calculation, comparison to benchmarks
Jan 31, 2020 | Jan 31, 2019 | Jan 31, 2018 | Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||||
Total assets | |||||||
Total Walmart shareholders’ equity | |||||||
Solvency Ratio | |||||||
Financial leverage1 | |||||||
Benchmarks | |||||||
Financial Leverage, Competitors2 | |||||||
Amazon.com Inc. | |||||||
Costco Wholesale Corp. | |||||||
Dollar General Corp. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
Target Corp. | |||||||
TJX Cos. Inc. | |||||||
Financial Leverage, Sector | |||||||
General Retailers | |||||||
Financial Leverage, Industry | |||||||
Consumer Services |
Based on: 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), 10-K (filing date: 2015-04-01).
1 2020 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 2018 to 2019 and from 2019 to 2020. |
Interest Coverage
Walmart Inc., interest coverage calculation, comparison to benchmarks
Jan 31, 2020 | Jan 31, 2019 | Jan 31, 2018 | Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||||
Consolidated net income attributable to Walmart | |||||||
Add: Net income attributable to noncontrolling interest | |||||||
Less: Income from discontinued operations, net of income taxes | |||||||
Add: Income tax expense | |||||||
Add: Interest expense, debt, capital lease and financing obligations | |||||||
Earnings before interest and tax (EBIT) | |||||||
Solvency Ratio | |||||||
Interest coverage1 | |||||||
Benchmarks | |||||||
Interest Coverage, Competitors2 | |||||||
Amazon.com Inc. | |||||||
Costco Wholesale Corp. | |||||||
Dollar General Corp. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
Target Corp. | |||||||
TJX Cos. Inc. | |||||||
Interest Coverage, Sector | |||||||
General Retailers | |||||||
Interest Coverage, Industry | |||||||
Consumer Services |
Based on: 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), 10-K (filing date: 2015-04-01).
1 2020 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 deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level. |
Fixed Charge Coverage
Walmart Inc., fixed charge coverage calculation, comparison to benchmarks
Jan 31, 2020 | Jan 31, 2019 | Jan 31, 2018 | Jan 31, 2017 | Jan 31, 2016 | Jan 31, 2015 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||||
Consolidated net income attributable to Walmart | |||||||
Add: Net income attributable to noncontrolling interest | |||||||
Less: Income from discontinued operations, net of income taxes | |||||||
Add: Income tax expense | |||||||
Add: Interest expense, debt, capital lease and financing obligations | |||||||
Earnings before interest and tax (EBIT) | |||||||
Add: Operating lease cost | |||||||
Earnings before fixed charges and tax | |||||||
Interest expense, debt, capital lease and financing obligations | |||||||
Operating lease cost | |||||||
Fixed charges | |||||||
Solvency Ratio | |||||||
Fixed charge coverage1 | |||||||
Benchmarks | |||||||
Fixed Charge Coverage, Competitors2 | |||||||
Amazon.com Inc. | |||||||
Costco Wholesale Corp. | |||||||
Dollar General Corp. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
Target Corp. | |||||||
TJX Cos. Inc. | |||||||
Fixed Charge Coverage, Sector | |||||||
General Retailers | |||||||
Fixed Charge Coverage, Industry | |||||||
Consumer Services |
Based on: 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), 10-K (filing date: 2015-04-01).
1 2020 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 deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level. |