Stock Analysis on Net
Stock Analysis on Net

Walmart Inc. (NYSE:WMT)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Beginner level

Long-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019 Jan 31, 2019 Oct 31, 2018 Jul 31, 2018 Apr 30, 2018 Jan 31, 2018 Oct 31, 2017 Jul 31, 2017 Apr 30, 2017 Jan 31, 2017 Oct 31, 2016 Jul 31, 2016 Apr 30, 2016 Jan 31, 2016 Oct 31, 2015 Jul 31, 2015 Apr 30, 2015 Jan 31, 2015 Oct 31, 2014 Jul 31, 2014 Apr 30, 2014
Net fixed asset turnover 5.08 4.98 4.74 4.77 4.73 4.72 4.58 4.56 4.56 4.36 4.32 4.25 4.21 4.23 4.22 4.17 4.16 4.12 4.11 4.11 4.14 4.17 4.13
Net fixed asset turnover (including operating lease, right-of-use asset) 4.38 4.30 4.09 4.12 4.08 4.09 4.58 4.56 4.56 4.36 4.32 4.25 4.21 4.23 4.22 4.17 4.16 4.12 4.11 4.11 4.14 4.17 4.13
Total asset turnover 2.27 2.28 2.20 2.16 2.19 2.18 2.33 2.24 2.46 2.44 2.42 2.34 2.41 2.42 2.42 2.32 2.42 2.41 2.40 2.34 2.43 2.40 2.37
Equity turnover 7.14 7.78 6.96 7.22 7.31 7.50 7.04 7.05 7.11 6.63 6.37 6.44 6.35 6.55 6.19 6.18 6.27 6.38 5.94 6.04 6.11 6.30 5.92

Based on: 10-Q (filing date: 2020-09-02), 10-Q (filing date: 2020-06-03), 10-K (filing date: 2020-03-20), 10-Q (filing date: 2019-12-04), 10-Q (filing date: 2019-09-06), 10-Q (filing date: 2019-06-07), 10-K (filing date: 2019-03-28), 10-Q (filing date: 2018-11-30), 10-Q (filing date: 2018-09-06), 10-Q (filing date: 2018-06-04), 10-K (filing date: 2018-03-30), 10-Q (filing date: 2017-12-01), 10-Q (filing date: 2017-08-31), 10-Q (filing date: 2017-06-02), 10-K (filing date: 2017-03-31), 10-Q (filing date: 2016-12-01), 10-Q (filing date: 2016-08-31), 10-Q (filing date: 2016-06-03), 10-K (filing date: 2016-03-30), 10-Q (filing date: 2015-12-02), 10-Q (filing date: 2015-09-09), 10-Q (filing date: 2015-06-05), 10-K (filing date: 2015-04-01), 10-Q (filing date: 2014-12-01), 10-Q (filing date: 2014-09-05), 10-Q (filing date: 2014-06-06).

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.’s net fixed asset turnover ratio improved from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.
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.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Walmart Inc.’s total asset turnover ratio improved from Q4 2020 to Q1 2021 but then slightly deteriorated from Q1 2021 to Q2 2021.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Walmart Inc.’s equity turnover ratio improved from Q4 2020 to Q1 2021 but then slightly deteriorated from Q1 2021 to Q2 2021 not reaching Q4 2020 level.

Net Fixed Asset Turnover

Walmart Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019 Jan 31, 2019 Oct 31, 2018 Jul 31, 2018 Apr 30, 2018 Jan 31, 2018 Oct 31, 2017 Jul 31, 2017 Apr 30, 2017 Jan 31, 2017 Oct 31, 2016 Jul 31, 2016 Apr 30, 2016 Jan 31, 2016 Oct 31, 2015 Jul 31, 2015 Apr 30, 2015 Jan 31, 2015 Oct 31, 2014 Jul 31, 2014 Apr 30, 2014
Selected Financial Data (US$ in millions)
Net sales 136,824  133,672  140,608  126,981  129,388  122,949  137,743  123,897  127,059  121,630  135,150  122,136  121,949  116,526  129,750  117,176  119,405  114,986  128,684  116,598  119,330  114,002  130,650  118,076  119,336  114,167 
Property and equipment, including finance lease right-of-use assets, net 106,025  106,483  109,625  108,481  108,623  108,408  111,395  111,349  111,017  114,800  114,818  115,299  115,353  114,169  114,178  115,088  115,410  116,494  116,516  116,956  116,511  115,685  116,655  117,492  118,723  117,643 
Long-term Activity Ratio
Net fixed asset turnover1 5.08 4.98 4.74 4.77 4.73 4.72 4.58 4.56 4.56 4.36 4.32 4.25 4.21 4.23 4.22 4.17 4.16 4.12 4.11 4.11 4.14 4.17 4.13
Benchmarks
Net Fixed Asset Turnover, Competitors2
Amazon.com Inc. 3.48 3.72 3.81 3.86 3.92 3.89 3.96 3.77 3.81 3.80 3.69 3.64 3.55 4.05 4.37 4.67 4.71 4.79 4.87 4.90
Costco Wholesale Corp. 7.48 7.31 7.21 7.12 7.15 7.15 7.15 7.12 7.03 7.11 6.98 6.95 6.95 6.87 6.83 6.81 6.81 6.99 7.14 7.19 7.38
Dollar General Corp. 8.88 8.91 8.47 8.70 8.83 8.69 8.63 8.59 8.61 8.69 8.69 8.80 8.84 8.98 9.03 8.90 8.94 9.09 9.00 8.95 8.96 9.04 8.94
Home Depot Inc. 5.10 4.94 4.84 4.94 4.91 4.92 4.84 4.79 4.76 4.65 4.57 4.52 4.42 4.39 4.32 4.28 4.19 4.06 3.99 3.91 3.83 3.74 3.66
Lowe’s Cos. Inc. 4.32 4.00 3.86 3.91 3.94 3.95 3.87 3.76 3.68 3.54 3.48 3.48 3.43 3.37 3.26 3.12 3.01 3.09 3.02 2.97 2.92 2.86 2.81
Target Corp. 3.13 2.97 2.93 2.91 2.92 2.93 2.92 2.91 2.92 2.92 2.87 2.78 2.80 2.81 2.82 2.83 2.87 2.91 2.93 2.90 2.87 2.83 2.80
TJX Cos. Inc. 6.61 7.08 7.83 7.74 7.94 7.88 7.42 7.51 7.40 7.32 7.16 7.07 7.15 7.26 7.32 7.57 7.54 7.48 7.48 7.45 7.48 7.48 7.52

Based on: 10-Q (filing date: 2020-09-02), 10-Q (filing date: 2020-06-03), 10-K (filing date: 2020-03-20), 10-Q (filing date: 2019-12-04), 10-Q (filing date: 2019-09-06), 10-Q (filing date: 2019-06-07), 10-K (filing date: 2019-03-28), 10-Q (filing date: 2018-11-30), 10-Q (filing date: 2018-09-06), 10-Q (filing date: 2018-06-04), 10-K (filing date: 2018-03-30), 10-Q (filing date: 2017-12-01), 10-Q (filing date: 2017-08-31), 10-Q (filing date: 2017-06-02), 10-K (filing date: 2017-03-31), 10-Q (filing date: 2016-12-01), 10-Q (filing date: 2016-08-31), 10-Q (filing date: 2016-06-03), 10-K (filing date: 2016-03-30), 10-Q (filing date: 2015-12-02), 10-Q (filing date: 2015-09-09), 10-Q (filing date: 2015-06-05), 10-K (filing date: 2015-04-01), 10-Q (filing date: 2014-12-01), 10-Q (filing date: 2014-09-05), 10-Q (filing date: 2014-06-06).

1 Q2 2021 Calculation
Net fixed asset turnover = (Net salesQ2 2021 + Net salesQ1 2021 + Net salesQ4 2020 + Net salesQ3 2020) ÷ Property and equipment, including finance lease right-of-use assets, net
= (136,824 + 133,672 + 140,608 + 126,981) ÷ 106,025 = 5.08

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.’s net fixed asset turnover ratio improved from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

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 (quarterly data)

Microsoft Excel LibreOffice Calc
Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019 Jan 31, 2019 Oct 31, 2018 Jul 31, 2018 Apr 30, 2018 Jan 31, 2018 Oct 31, 2017 Jul 31, 2017 Apr 30, 2017 Jan 31, 2017 Oct 31, 2016 Jul 31, 2016 Apr 30, 2016 Jan 31, 2016 Oct 31, 2015 Jul 31, 2015 Apr 30, 2015 Jan 31, 2015 Oct 31, 2014 Jul 31, 2014 Apr 30, 2014
Selected Financial Data (US$ in millions)
Net sales 136,824  133,672  140,608  126,981  129,388  122,949  137,743  123,897  127,059  121,630  135,150  122,136  121,949  116,526  129,750  117,176  119,405  114,986  128,684  116,598  119,330  114,002  130,650  118,076  119,336  114,167 
 
Property and equipment, including finance lease right-of-use assets, net 106,025  106,483  109,625  108,481  108,623  108,408  111,395  111,349  111,017  114,800  114,818  115,299  115,353  114,169  114,178  115,088  115,410  116,494  116,516  116,956  116,511  115,685  116,655  117,492  118,723  117,643 
Operating lease right-of-use assets 16,869  16,895  17,424  16,944  17,239  16,833  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Property and equipment, including finance lease right-of-use assets, net (including operating lease, right-of-use asset) 122,894  123,378  127,049  125,425  125,862  125,241  111,395  111,349  111,017  114,800  114,818  115,299  115,353  114,169  114,178  115,088  115,410  116,494  116,516  116,956  116,511  115,685  116,655  117,492  118,723  117,643 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 4.38 4.30 4.09 4.12 4.08 4.09 4.58 4.56 4.56 4.36 4.32 4.25 4.21 4.23 4.22 4.17 4.16 4.12 4.11 4.11 4.14 4.17 4.13
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Amazon.com Inc. 2.59 2.80 2.85 2.87 2.92 2.92 2.98 3.77 3.81 3.80 3.69 3.64 3.55 4.05 4.37 4.67 4.71 4.79 4.87 4.90
Costco Wholesale Corp. 6.64 6.48 6.43 6.35 7.15 7.15 7.15 7.12 7.03 7.11 6.98 6.95 6.95 6.87 6.83 6.81 6.81 6.99 7.14 7.19 7.38
Dollar General Corp. 2.47 2.41 2.30 2.31 2.33 2.34 8.63 8.59 8.61 8.69 8.69 8.80 8.84 8.98 9.03 8.90 8.94 9.09 9.00 8.95 8.96 9.04 8.94
Home Depot Inc. 4.14 3.96 3.89 3.95 3.90 3.93 4.84 4.79 4.76 4.65 4.57 4.52 4.42 4.39 4.32 4.28 4.19 4.06 3.99 3.91 3.83 3.74 3.66
Lowe’s Cos. Inc. 3.59 3.31 3.20 3.23 3.24 3.25 3.87 3.76 3.68 3.54 3.48 3.48 3.43 3.37 3.26 3.12 3.01 3.09 3.02 2.97 2.92 2.86 2.81
Target Corp. 2.89 2.74 2.70 2.69 2.70 2.72 2.71 2.70 2.71 2.71 2.87 2.78 2.80 2.81 2.82 2.83 2.87 2.91 2.93 2.90 2.87 2.83 2.80
TJX Cos. Inc. 2.38 2.58 2.90 2.84 2.86 2.86 7.42 7.51 7.40 7.32 7.16 7.07 7.15 7.26 7.32 7.57 7.54 7.48 7.48 7.45 7.48 7.48 7.52

Based on: 10-Q (filing date: 2020-09-02), 10-Q (filing date: 2020-06-03), 10-K (filing date: 2020-03-20), 10-Q (filing date: 2019-12-04), 10-Q (filing date: 2019-09-06), 10-Q (filing date: 2019-06-07), 10-K (filing date: 2019-03-28), 10-Q (filing date: 2018-11-30), 10-Q (filing date: 2018-09-06), 10-Q (filing date: 2018-06-04), 10-K (filing date: 2018-03-30), 10-Q (filing date: 2017-12-01), 10-Q (filing date: 2017-08-31), 10-Q (filing date: 2017-06-02), 10-K (filing date: 2017-03-31), 10-Q (filing date: 2016-12-01), 10-Q (filing date: 2016-08-31), 10-Q (filing date: 2016-06-03), 10-K (filing date: 2016-03-30), 10-Q (filing date: 2015-12-02), 10-Q (filing date: 2015-09-09), 10-Q (filing date: 2015-06-05), 10-K (filing date: 2015-04-01), 10-Q (filing date: 2014-12-01), 10-Q (filing date: 2014-09-05), 10-Q (filing date: 2014-06-06).

1 Q2 2021 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = (Net salesQ2 2021 + Net salesQ1 2021 + Net salesQ4 2020 + Net salesQ3 2020) ÷ Property and equipment, including finance lease right-of-use assets, net (including operating lease, right-of-use asset)
= (136,824 + 133,672 + 140,608 + 126,981) ÷ 122,894 = 4.38

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.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Total Asset Turnover

Walmart Inc., total asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019 Jan 31, 2019 Oct 31, 2018 Jul 31, 2018 Apr 30, 2018 Jan 31, 2018 Oct 31, 2017 Jul 31, 2017 Apr 30, 2017 Jan 31, 2017 Oct 31, 2016 Jul 31, 2016 Apr 30, 2016 Jan 31, 2016 Oct 31, 2015 Jul 31, 2015 Apr 30, 2015 Jan 31, 2015 Oct 31, 2014 Jul 31, 2014 Apr 30, 2014
Selected Financial Data (US$ in millions)
Net sales 136,824  133,672  140,608  126,981  129,388  122,949  137,743  123,897  127,059  121,630  135,150  122,136  121,949  116,526  129,750  117,176  119,405  114,986  128,684  116,598  119,330  114,002  130,650  118,076  119,336  114,167 
Total assets 237,382  232,892  236,495  239,830  234,861  234,544  219,295  226,583  206,062  204,927  204,522  209,414  201,566  199,718  198,825  206,857  197,886  198,705  199,581  205,144  198,620  200,747  203,706  207,889  203,985  202,746 
Long-term Activity Ratio
Total asset turnover1 2.27 2.28 2.20 2.16 2.19 2.18 2.33 2.24 2.46 2.44 2.42 2.34 2.41 2.42 2.42 2.32 2.42 2.41 2.40 2.34 2.43 2.40 2.37
Benchmarks
Total Asset Turnover, Competitors2
Amazon.com Inc. 1.23 1.25 1.34 1.25 1.33 1.32 1.36 1.43 1.54 1.55 1.53 1.35 1.40 1.71 1.76 1.63 1.81 1.85 1.86 1.64
Costco Wholesale Corp. 2.94 3.04 3.18 2.94 3.29 3.34 3.36 3.23 3.39 3.44 3.44 3.30 3.47 3.38 3.33 3.20 3.50 3.41 3.54 3.22 3.40
Dollar General Corp. 1.21 1.19 1.22 1.22 1.22 1.23 1.94 1.91 1.90 1.92 1.88 1.89 1.88 1.89 1.88 1.78 1.81 1.83 1.81 1.77 1.76 1.76 1.68
Home Depot Inc. 1.88 1.91 2.15 2.12 2.12 2.13 2.46 2.34 2.26 2.19 2.27 2.20 2.12 2.13 2.20 2.10 2.08 2.03 2.08 1.96 1.95 1.98 2.08
Lowe’s Cos. Inc. 1.55 1.62 1.83 1.80 1.76 1.66 2.07 1.94 1.90 1.81 1.94 1.87 1.85 1.77 1.89 1.77 1.68 1.62 1.89 1.73 1.76 1.65 1.77
Target Corp. 1.74 1.77 1.80 1.75 1.83 1.85 1.80 1.71 1.84 1.86 1.84 1.71 1.86 1.86 1.86 1.82 1.92 1.83 1.83 1.77 1.82 1.81 1.75
TJX Cos. Inc. 1.27 1.45 1.73 1.67 1.75 1.76 2.72 2.58 2.67 2.63 2.55 2.48 2.62 2.62 2.58 2.54 2.75 2.70 2.69 2.53 2.64 2.59 2.61

Based on: 10-Q (filing date: 2020-09-02), 10-Q (filing date: 2020-06-03), 10-K (filing date: 2020-03-20), 10-Q (filing date: 2019-12-04), 10-Q (filing date: 2019-09-06), 10-Q (filing date: 2019-06-07), 10-K (filing date: 2019-03-28), 10-Q (filing date: 2018-11-30), 10-Q (filing date: 2018-09-06), 10-Q (filing date: 2018-06-04), 10-K (filing date: 2018-03-30), 10-Q (filing date: 2017-12-01), 10-Q (filing date: 2017-08-31), 10-Q (filing date: 2017-06-02), 10-K (filing date: 2017-03-31), 10-Q (filing date: 2016-12-01), 10-Q (filing date: 2016-08-31), 10-Q (filing date: 2016-06-03), 10-K (filing date: 2016-03-30), 10-Q (filing date: 2015-12-02), 10-Q (filing date: 2015-09-09), 10-Q (filing date: 2015-06-05), 10-K (filing date: 2015-04-01), 10-Q (filing date: 2014-12-01), 10-Q (filing date: 2014-09-05), 10-Q (filing date: 2014-06-06).

1 Q2 2021 Calculation
Total asset turnover = (Net salesQ2 2021 + Net salesQ1 2021 + Net salesQ4 2020 + Net salesQ3 2020) ÷ Total assets
= (136,824 + 133,672 + 140,608 + 126,981) ÷ 237,382 = 2.27

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.’s total asset turnover ratio improved from Q4 2020 to Q1 2021 but then slightly deteriorated from Q1 2021 to Q2 2021.

Equity Turnover

Walmart Inc., equity turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019 Jan 31, 2019 Oct 31, 2018 Jul 31, 2018 Apr 30, 2018 Jan 31, 2018 Oct 31, 2017 Jul 31, 2017 Apr 30, 2017 Jan 31, 2017 Oct 31, 2016 Jul 31, 2016 Apr 30, 2016 Jan 31, 2016 Oct 31, 2015 Jul 31, 2015 Apr 30, 2015 Jan 31, 2015 Oct 31, 2014 Jul 31, 2014 Apr 30, 2014
Selected Financial Data (US$ in millions)
Net sales 136,824  133,672  140,608  126,981  129,388  122,949  137,743  123,897  127,059  121,630  135,150  122,136  121,949  116,526  129,750  117,176  119,405  114,986  128,684  116,598  119,330  114,002  130,650  118,076  119,336  114,167 
Total Walmart shareholders’ equity 75,310  68,240  74,669  71,649  70,327  68,205  72,496  71,996  71,185  75,552  77,869  76,145  76,389  73,691  77,798  77,693  76,525  75,183  80,546  79,571  78,871  76,574  81,394  79,109  77,746  73,088 
Long-term Activity Ratio
Equity turnover1 7.14 7.78 6.96 7.22 7.31 7.50 7.04 7.05 7.11 6.63 6.37 6.44 6.35 6.55 6.19 6.18 6.27 6.38 5.94 6.04 6.11 6.30 5.92
Benchmarks
Equity Turnover, Competitors2
Amazon.com Inc. 4.20 4.36 4.54 4.52 4.70 4.75 4.99 5.35 5.65 5.95 6.14 6.42 6.54 6.47 6.58 7.05 7.20 7.29 7.69 8.00
Costco Wholesale Corp. 8.93 9.37 9.32 9.54 9.80 10.10 10.39 10.76 10.82 11.23 11.31 11.72 11.71 12.18 9.52 9.76 9.61 10.03 10.43 10.51 10.71
Dollar General Corp. 4.25 4.10 4.14 4.10 3.95 3.98 3.99 3.95 3.85 3.84 3.83 4.07 4.00 4.04 4.07 3.97 3.88 3.84 3.79 3.75 3.63 3.58 3.31
Home Depot Inc. 80.00 51.93 60.44 69.40 39.02 27.39 24.16 21.83 16.61 13.82 14.27 14.02 11.38 9.89 9.17 8.92
Lowe’s Cos. Inc. 18.46 43.17 36.59 29.20 27.19 22.15 19.57 13.19 12.20 12.03 11.68 12.00 12.26 12.05 10.11 9.47 8.84 8.34 7.72 6.97 6.64 6.01 5.64
Target Corp. 6.65 7.08 6.52 6.65 6.41 6.77 6.59 6.72 6.59 6.49 6.14 6.27 6.27 6.29 6.34 6.36 6.19 5.81 5.69 5.58 5.28 5.16 5.19
TJX Cos. Inc. 7.24 7.78 7.01 7.33 7.55 7.71 7.72 7.38 7.22 6.99 6.97 7.40 7.47 7.34 7.36 7.55 7.22 6.97 7.18 6.96 6.99 6.87 6.82

Based on: 10-Q (filing date: 2020-09-02), 10-Q (filing date: 2020-06-03), 10-K (filing date: 2020-03-20), 10-Q (filing date: 2019-12-04), 10-Q (filing date: 2019-09-06), 10-Q (filing date: 2019-06-07), 10-K (filing date: 2019-03-28), 10-Q (filing date: 2018-11-30), 10-Q (filing date: 2018-09-06), 10-Q (filing date: 2018-06-04), 10-K (filing date: 2018-03-30), 10-Q (filing date: 2017-12-01), 10-Q (filing date: 2017-08-31), 10-Q (filing date: 2017-06-02), 10-K (filing date: 2017-03-31), 10-Q (filing date: 2016-12-01), 10-Q (filing date: 2016-08-31), 10-Q (filing date: 2016-06-03), 10-K (filing date: 2016-03-30), 10-Q (filing date: 2015-12-02), 10-Q (filing date: 2015-09-09), 10-Q (filing date: 2015-06-05), 10-K (filing date: 2015-04-01), 10-Q (filing date: 2014-12-01), 10-Q (filing date: 2014-09-05), 10-Q (filing date: 2014-06-06).

1 Q2 2021 Calculation
Equity turnover = (Net salesQ2 2021 + Net salesQ1 2021 + Net salesQ4 2020 + Net salesQ3 2020) ÷ Total Walmart shareholders’ equity
= (136,824 + 133,672 + 140,608 + 126,981) ÷ 75,310 = 7.14

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.’s equity turnover ratio improved from Q4 2020 to Q1 2021 but then slightly deteriorated from Q1 2021 to Q2 2021 not reaching Q4 2020 level.