Stock Analysis on Net

Walmart Inc. (NYSE:WMT)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Walmart Inc., long-term (investment) activity ratios

Microsoft Excel
Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018
Net fixed asset turnover 5.73 5.74 5.77 4.74 4.58 4.32
Net fixed asset turnover (including operating lease, right-of-use asset) 5.08 5.04 5.05 4.09 4.58 4.32
Total asset turnover 2.49 2.32 2.20 2.20 2.33 2.42
Equity turnover 7.90 6.82 6.86 6.96 7.04 6.37

Based on: 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Walmart Inc. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Walmart Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Walmart Inc. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Walmart Inc. equity turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Net Fixed Asset Turnover

Walmart Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018
Selected Financial Data (US$ in millions)
Net sales 605,881 567,762 555,233 519,926 510,329 495,761
Property and equipment, including finance lease right-of-use assets, net 105,679 98,866 96,206 109,625 111,395 114,818
Long-term Activity Ratio
Net fixed asset turnover1 5.73 5.74 5.77 4.74 4.58 4.32
Benchmarks
Net Fixed Asset Turnover, Competitors2
Costco Wholesale Corp. 8.48 7.84 7.29 7.03 6.92
Net Fixed Asset Turnover, Sector
Food & Staples Retailing 6.32 6.19 5.17 4.97 4.70
Net Fixed Asset Turnover, Industry
Consumer Staples 5.77 5.66 4.88 4.77 4.66

Based on: 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31).

1 2023 Calculation
Net fixed asset turnover = Net sales ÷ Property and equipment, including finance lease right-of-use assets, net
= 605,881 ÷ 105,679 = 5.73

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Walmart Inc. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Walmart Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018
Selected Financial Data (US$ in millions)
Net sales 605,881 567,762 555,233 519,926 510,329 495,761
 
Property and equipment, including finance lease right-of-use assets, net 105,679 98,866 96,206 109,625 111,395 114,818
Operating lease right-of-use assets 13,555 13,758 13,642 17,424
Property and equipment, including finance lease right-of-use assets, net (including operating lease, right-of-use asset) 119,234 112,624 109,848 127,049 111,395 114,818
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 5.08 5.04 5.05 4.09 4.58 4.32
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Costco Wholesale Corp. 7.67 7.01 6.48 7.03 6.92
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Food & Staples Retailing 5.58 5.45 4.49 4.97 4.70
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Consumer Staples 5.18 5.06 4.32 4.68 4.66

Based on: 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31).

1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property and equipment, including finance lease right-of-use assets, net (including operating lease, right-of-use asset)
= 605,881 ÷ 119,234 = 5.08

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Walmart Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Total Asset Turnover

Walmart Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018
Selected Financial Data (US$ in millions)
Net sales 605,881 567,762 555,233 519,926 510,329 495,761
Total assets 243,197 244,860 252,496 236,495 219,295 204,522
Long-term Activity Ratio
Total asset turnover1 2.49 2.32 2.20 2.20 2.33 2.42
Benchmarks
Total Asset Turnover, Competitors2
Costco Wholesale Corp. 3.47 3.24 2.94 3.29 3.39
Total Asset Turnover, Sector
Food & Staples Retailing 2.56 2.40 2.34 2.49 2.58
Total Asset Turnover, Industry
Consumer Staples 1.61 1.55 1.46 1.55 1.55

Based on: 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31).

1 2023 Calculation
Total asset turnover = Net sales ÷ Total assets
= 605,881 ÷ 243,197 = 2.49

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Walmart Inc. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Equity Turnover

Walmart Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Jan 31, 2023 Jan 31, 2022 Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018
Selected Financial Data (US$ in millions)
Net sales 605,881 567,762 555,233 519,926 510,329 495,761
Total Walmart shareholders’ equity 76,693 83,253 80,925 74,669 72,496 77,869
Long-term Activity Ratio
Equity turnover1 7.90 6.82 6.86 6.96 7.04 6.37
Benchmarks
Equity Turnover, Competitors2
Costco Wholesale Corp. 10.79 10.93 8.93 9.80 10.82
Equity Turnover, Sector
Food & Staples Retailing 7.61 7.59 7.35 7.52 6.99
Equity Turnover, Industry
Consumer Staples 5.91 5.89 5.85 5.79 5.42

Based on: 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31).

1 2023 Calculation
Equity turnover = Net sales ÷ Total Walmart shareholders’ equity
= 605,881 ÷ 76,693 = 7.90

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Walmart Inc. equity turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.