Stock Analysis on Net
Stock Analysis on Net

Walmart Inc. (NYSE:WMT)

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Beginner level

Short-term Activity Ratios (Summary)

Walmart Inc., short-term (operating) 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
Turnover Ratios
Inventory turnover 9.94 9.79 8.88 7.60 8.81 8.64 8.70 7.60 9.09 8.72 8.53 7.35 8.39 8.36 8.39 7.24 8.30 8.11 8.12 7.16 8.11 7.88 8.09
Receivables turnover 105.28 105.52 82.74 92.13 95.50 95.78 81.22 87.77 101.15 109.65 88.31 83.61 89.97 91.94 82.49 89.87 90.93 92.46 85.10 95.89 91.39 82.93 71.15
Payables turnover 8.81 9.15 8.40 7.87 8.48 8.57 8.19 7.70 8.84 8.46 8.10 7.74 8.60 8.76 8.72 8.39 9.03 9.50 9.38 8.95 9.80 9.80 9.50
Working capital turnover
Average No. Days
Average inventory processing period 37 37 41 48 41 42 42 48 40 42 43 50 44 44 43 50 44 45 45 51 45 46 45
Add: Average receivable collection period 3 3 4 4 4 4 4 4 4 3 4 4 4 4 4 4 4 4 4 4 4 4 5
Operating cycle 40 40 45 52 45 46 46 52 44 45 47 54 48 48 47 54 48 49 49 55 49 50 50
Less: Average payables payment period 41 40 43 46 43 43 45 47 41 43 45 47 42 42 42 44 40 38 39 41 37 37 38
Cash conversion cycle -1 0 2 6 2 3 1 5 3 2 2 7 6 6 5 10 8 11 10 14 12 13 12

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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Walmart Inc.’s inventory turnover ratio improved from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.
Receivables turnover An activity ratio equal to revenue divided by receivables. Walmart Inc.’s receivables turnover ratio improved from Q4 2020 to Q1 2021 but then slightly deteriorated from Q1 2021 to Q2 2021.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Walmart Inc.’s payables turnover ratio increased from Q4 2020 to Q1 2021 but then slightly decreased from Q1 2021 to Q2 2021.
Working capital turnover An activity ratio calculated as revenue divided by working capital.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.
Operating cycle Equal to average inventory processing period plus average receivables collection period.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Walmart Inc.’s number of days of payables outstanding decreased from Q4 2020 to Q1 2021 but then slightly increased from Q1 2021 to Q2 2021.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Walmart Inc.’s cash conversion cycle improved from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Inventory Turnover

Walmart Inc., inventory 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)
Cost of sales 102,689  102,026  107,748  95,900  97,923  93,034  104,907  93,116  95,571  91,707  102,640  91,547  91,521  87,688  97,743  87,484  89,485  86,544  96,999  87,446  90,056  86,483  99,115  89,247  90,010  86,714 
Inventories 41,084  41,217  44,435  51,546  44,134  44,751  44,269  50,380  41,985  43,303  43,783  50,147  43,442  43,361  43,046  49,822  43,453  44,513  44,469  50,706  45,007  46,310  45,141  51,501  45,451  45,315 
Short-term Activity Ratio
Inventory turnover1 9.94 9.79 8.88 7.60 8.81 8.64 8.70 7.60 9.09 8.72 8.53 7.35 8.39 8.36 8.39 7.24 8.30 8.11 8.12 7.16 8.11 7.88 8.09
Benchmarks
Inventory Turnover, Competitors2
Amazon.com Inc. 9.81 9.33 8.08 8.33 7.97 8.66 8.10 8.38 8.59 8.69 6.98 7.47 8.35 8.66 7.70 7.82 8.25 7.84 7.00
Costco Wholesale Corp. 12.70 11.63 9.73 11.66 11.52 11.28 10.34 11.16 11.40 11.06 10.27 11.38 10.97 11.02 9.66 11.47 11.46 11.44 9.76 11.35 11.39 11.79 10.37
Dollar General Corp. 4.90 4.99 4.12 4.22 4.20 4.43 4.35 4.37 4.37 4.62 4.50 4.50 4.56 4.69 4.67 4.21 4.43 4.65 4.57 4.46 4.49 4.71 4.71
Home Depot Inc. 5.83 4.93 5.00 4.65 4.91 4.65 5.10 4.70 4.88 4.65 5.22 4.87 4.98 4.63 4.96 4.64 4.92 4.50 4.93 4.55 4.72 4.48 4.89
Lowe’s Cos. Inc. 3.90 3.52 3.73 3.57 3.58 3.26 3.85 3.88 3.95 3.47 3.97 3.65 3.91 3.57 4.07 3.72 3.76 3.55 4.07 3.65 3.88 3.50 4.11
Target Corp. 6.78 6.65 6.10 4.80 5.95 5.95 5.61 4.30 5.75 5.97 5.91 4.66 5.95 6.11 5.88 4.91 5.83 6.06 6.05 5.01 6.25 5.97 5.83
TJX Cos. Inc. 6.88 5.59 6.13 4.64 5.64 5.59 6.08 4.99 5.96 5.98 6.09 5.17 6.24 6.35 6.47 5.28 5.90 5.76 5.96 4.86 5.68 5.95 6.46

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
Inventory turnover = (Cost of salesQ2 2021 + Cost of salesQ1 2021 + Cost of salesQ4 2020 + Cost of salesQ3 2020) ÷ Inventories
= (102,689 + 102,026 + 107,748 + 95,900) ÷ 41,084 = 9.94

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Walmart Inc.’s inventory turnover ratio improved from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Receivables Turnover

Walmart Inc., receivables 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 
Receivables, net 5,111  5,029  6,284  5,612  5,382  5,342  6,283  5,785  5,002  4,568  5,614  5,865  5,395  5,252  5,835  5,344  5,275  5,187  5,624  5,012  5,275  5,813  6,778  6,091  6,146  6,096 
Short-term Activity Ratio
Receivables turnover1 105.28 105.52 82.74 92.13 95.50 95.78 81.22 87.77 101.15 109.65 88.31 83.61 89.97 91.94 82.49 89.87 90.93 92.46 85.10 95.89 91.39 82.93 71.15
Benchmarks
Receivables Turnover, Competitors2
Costco Wholesale Corp. 104.44 77.92 88.41 97.30 85.87 72.17 78.90 82.94 85.61 66.45 83.27 88.11 82.45 74.19 78.05 92.71 88.72 78.94 83.89 92.86 94.92 87.91 89.77
Dollar General Corp.
Home Depot Inc. 46.57 42.95 52.34 49.72 48.38 47.32 55.89 48.64 48.21 44.41 51.69 45.81 44.52 44.23 46.62 46.80 46.13 45.44 46.84 44.65 50.35 45.88 56.05
TJX Cos. Inc. 75.94 213.66 108.00 91.76 106.12 100.60 112.54 92.44 105.97 99.83 109.62 99.38 111.01 105.37 128.21 106.64 111.30 112.28 129.98 110.59 114.58 111.79 135.99

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
Receivables turnover = (Net salesQ2 2021 + Net salesQ1 2021 + Net salesQ4 2020 + Net salesQ3 2020) ÷ Receivables, net
= (136,824 + 133,672 + 140,608 + 126,981) ÷ 5,111 = 105.28

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Walmart Inc.’s receivables turnover ratio improved from Q4 2020 to Q1 2021 but then slightly deteriorated from Q1 2021 to Q2 2021.

Payables Turnover

Walmart Inc., payables 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)
Cost of sales 102,689  102,026  107,748  95,900  97,923  93,034  104,907  93,116  95,571  91,707  102,640  91,547  91,521  87,688  97,743  87,484  89,485  86,544  96,999  87,446  90,056  86,483  99,115  89,247  90,010  86,714 
Accounts payable 46,326  44,096  46,973  49,750  45,871  45,110  47,060  49,729  43,128  44,612  46,092  47,587  42,389  41,367  41,433  42,990  39,902  37,997  38,487  40,553  37,225  37,224  38,410  39,656  36,828  36,347 
Short-term Activity Ratio
Payables turnover1 8.81 9.15 8.40 7.87 8.48 8.57 8.19 7.70 8.84 8.46 8.10 7.74 8.60 8.76 8.72 8.39 9.03 9.50 9.38 8.95 9.80 9.80 9.50
Benchmarks
Payables Turnover, Competitors2
Amazon.com Inc. 3.77 4.39 3.51 4.37 4.11 4.47 3.64 4.30 4.61 4.78 3.23 3.93 4.48 4.86 3.49 4.45 4.91 5.01 3.51
Costco Wholesale Corp. 12.93 12.45 9.31 11.38 11.49 11.96 9.61 10.96 11.32 11.73 9.61 11.64 11.34 11.98 9.41 13.52 11.59 12.39 9.76 11.22 11.36 12.15 10.22
Dollar General Corp. 6.33 6.94 6.73 6.67 6.80 7.42 7.47 7.45 7.42 8.22 8.09 8.19 8.40 9.53 9.76 7.55 8.43 9.88 9.41 9.41 8.85 9.31 9.44
Home Depot Inc. 6.73 7.35 9.33 7.91 7.62 6.99 9.16 7.66 7.29 6.90 9.19 7.63 7.51 6.90 8.90 7.63 7.32 6.83 8.87 7.86 7.46 6.83 9.34
Lowe’s Cos. Inc. 4.18 4.63 6.42 5.54 5.18 4.26 5.85 5.16 5.22 4.53 6.86 5.09 5.15 4.41 6.40 5.21 5.18 4.45 6.84 5.18 5.28 4.63 7.16
Target Corp. 5.61 5.94 5.53 4.86 5.93 6.45 5.46 4.45 5.75 6.35 5.89 4.94 6.48 7.47 6.74 5.98 7.39 8.02 7.01 5.84 7.44 7.57 6.61
TJX Cos. Inc. 10.64 25.79 11.17 8.45 11.00 10.97 10.53 8.28 9.99 10.42 10.25 8.18 10.28 10.91 10.56 8.62 10.11 10.52 10.00 8.01 9.43 9.76 10.35

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
Payables turnover = (Cost of salesQ2 2021 + Cost of salesQ1 2021 + Cost of salesQ4 2020 + Cost of salesQ3 2020) ÷ Accounts payable
= (102,689 + 102,026 + 107,748 + 95,900) ÷ 46,326 = 8.81

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Walmart Inc.’s payables turnover ratio increased from Q4 2020 to Q1 2021 but then slightly decreased from Q1 2021 to Q2 2021.

Working Capital Turnover

Walmart Inc., working capital 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)
Current assets 64,996  63,328  61,806  67,912  61,371  61,739  61,897  69,446  66,370  59,242  59,664  65,368  56,763  57,336  57,689  63,401  58,232  59,097  60,239  65,112  58,132  62,133  63,278  65,841  59,632  59,687 
Less: Current liabilities 81,957  82,647  77,790  83,784  80,283  79,888  77,477  85,751  71,683  80,757  78,521  80,435  72,811  74,193  66,928  74,130  68,122  70,282  64,619  70,492  65,262  69,624  65,272  71,560  67,152  67,942 
Working capital (16,961) (19,319) (15,984) (15,872) (18,912) (18,149) (15,580) (16,305) (5,313) (21,515) (18,857) (15,067) (16,048) (16,857) (9,239) (10,729) (9,890) (11,185) (4,380) (5,380) (7,130) (7,491) (1,994) (5,719) (7,520) (8,255)
 
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 
Short-term Activity Ratio
Working capital turnover1
Benchmarks
Working Capital Turnover, Competitors2
Amazon.com Inc. 18.92 47.22 32.92 38.37 35.44 42.11 34.71 48.44 56.56 69.39 76.87 107.01 308.26 69.18 69.20 60.63 45.82 48.76 41.56
Costco Wholesale Corp. 63.59 153.67 400.20 602.22 294.44 381.36 483.61 1,194.83 201.79 149.76 126.31 35.71
Dollar General Corp. 14.31 13.76 43.75 48.44 43.95 41.68 15.56 15.23 15.35 14.61 18.29 19.21 19.41 21.13 20.84 21.08 21.25 14.13 14.18 13.37 15.49 16.47 12.24
Home Depot Inc. 16.66 28.53 76.81 68.95 57.87 124.59 59.68 65.46 43.91 33.09 36.84 26.96 20.77 27.68 26.34 18.99 20.84 23.41 19.82 32.97 27.27 85.23 20.62
Lowe’s Cos. Inc. 12.67 20.57 530.50 119.81 74.71 46.13 1,031.26 78.17 266.87 101.51 254.28 166.37 112.95 2,500.65 657.58 363.64 25.59 856.14 250.55 76.81
Target Corp. 48.30 389.66 352.16 143.21 37.77 48.93 54.91 42.15 28.66 30.89
TJX Cos. Inc. 8.72 6.55 23.97 24.08 23.99 26.62 13.27 11.75 11.43 10.67 10.67 11.76 11.64 11.36 11.09 10.72 12.87 12.25 13.06 11.57 11.34 10.77 10.44

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
Working capital turnover = (Net salesQ2 2021 + Net salesQ1 2021 + Net salesQ4 2020 + Net salesQ3 2020) ÷ Working capital
= (136,824 + 133,672 + 140,608 + 126,981) ÷ -16,961 =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital.

Average Inventory Processing Period

Walmart Inc., average inventory processing period 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
Inventory turnover 9.94 9.79 8.88 7.60 8.81 8.64 8.70 7.60 9.09 8.72 8.53 7.35 8.39 8.36 8.39 7.24 8.30 8.11 8.12 7.16 8.11 7.88 8.09
Short-term Activity Ratio (no. days)
Average inventory processing period1 37 37 41 48 41 42 42 48 40 42 43 50 44 44 43 50 44 45 45 51 45 46 45
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Amazon.com Inc. 37 39 45 44 46 42 45 44 42 42 52 49 44 42 47 47 44 47 52
Costco Wholesale Corp. 29 31 37 31 32 32 35 33 32 33 36 32 33 33 38 32 32 32 37 32 32 31 35
Dollar General Corp. 74 73 89 87 87 82 84 83 84 79 81 81 80 78 78 87 82 78 80 82 81 78 77
Home Depot Inc. 63 74 73 78 74 78 72 78 75 78 70 75 73 79 74 79 74 81 74 80 77 81 75
Lowe’s Cos. Inc. 94 104 98 102 102 112 95 94 92 105 92 100 93 102 90 98 97 103 90 100 94 104 89
Target Corp. 54 55 60 76 61 61 65 85 63 61 62 78 61 60 62 74 63 60 60 73 58 61 63
TJX Cos. Inc. 53 65 60 79 65 65 60 73 61 61 60 71 58 57 56 69 62 63 61 75 64 61 57

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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 9.94 = 37

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.

Average Receivable Collection Period

Walmart Inc., average receivable collection period 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
Receivables turnover 105.28 105.52 82.74 92.13 95.50 95.78 81.22 87.77 101.15 109.65 88.31 83.61 89.97 91.94 82.49 89.87 90.93 92.46 85.10 95.89 91.39 82.93 71.15
Short-term Activity Ratio (no. days)
Average receivable collection period1 3 3 4 4 4 4 4 4 4 3 4 4 4 4 4 4 4 4 4 4 4 4 5
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Costco Wholesale Corp. 3 5 4 4 4 5 5 4 4 5 4 4 4 5 5 4 4 5 4 4 4 4 4
Dollar General Corp.
Home Depot Inc. 8 8 7 7 8 8 7 8 8 8 7 8 8 8 8 8 8 8 8 8 7 8 7
TJX Cos. Inc. 5 2 3 4 3 4 3 4 3 4 3 4 3 3 3 3 3 3 3 3 3 3 3

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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 105.28 = 3

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.

Operating Cycle

Walmart Inc., operating cycle calculation (quarterly data)

No. days

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
Average inventory processing period 37 37 41 48 41 42 42 48 40 42 43 50 44 44 43 50 44 45 45 51 45 46 45
Average receivable collection period 3 3 4 4 4 4 4 4 4 3 4 4 4 4 4 4 4 4 4 4 4 4 5
Short-term Activity Ratio
Operating cycle1 40 40 45 52 45 46 46 52 44 45 47 54 48 48 47 54 48 49 49 55 49 50 50
Benchmarks
Operating Cycle, Competitors2
Costco Wholesale Corp. 32 36 41 35 36 37 40 37 36 38 40 36 37 38 43 36 36 37 41 36 36 35 39
Dollar General Corp.
Home Depot Inc. 71 82 80 85 82 86 79 86 83 86 77 83 81 87 82 87 82 89 82 88 84 89 82
TJX Cos. Inc. 58 67 63 83 68 69 63 77 64 65 63 75 61 60 59 72 65 66 64 78 67 64 60

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
Operating cycle = Average inventory processing period + Average receivable collection period
= 37 + 3 = 40

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period.

Average Payables Payment Period

Walmart Inc., average payables payment period 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
Payables turnover 8.81 9.15 8.40 7.87 8.48 8.57 8.19 7.70 8.84 8.46 8.10 7.74 8.60 8.76 8.72 8.39 9.03 9.50 9.38 8.95 9.80 9.80 9.50
Short-term Activity Ratio (no. days)
Average payables payment period1 41 40 43 46 43 43 45 47 41 43 45 47 42 42 42 44 40 38 39 41 37 37 38
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Amazon.com Inc. 97 83 104 84 89 82 100 85 79 76 113 93 81 75 105 82 74 73 104
Costco Wholesale Corp. 28 29 39 32 32 31 38 33 32 31 38 31 32 30 39 27 31 29 37 33 32 30 36
Dollar General Corp. 58 53 54 55 54 49 49 49 49 44 45 45 43 38 37 48 43 37 39 39 41 39 39
Home Depot Inc. 54 50 39 46 48 52 40 48 50 53 40 48 49 53 41 48 50 53 41 46 49 53 39
Lowe’s Cos. Inc. 87 79 57 66 70 86 62 71 70 81 53 72 71 83 57 70 70 82 53 70 69 79 51
Target Corp. 65 61 66 75 62 57 67 82 63 57 62 74 56 49 54 61 49 45 52 63 49 48 55
TJX Cos. Inc. 34 14 33 43 33 33 35 44 37 35 36 45 35 33 35 42 36 35 36 46 39 37 35

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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 8.81 = 41

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Walmart Inc.’s number of days of payables outstanding decreased from Q4 2020 to Q1 2021 but then slightly increased from Q1 2021 to Q2 2021.

Cash Conversion Cycle

Walmart Inc., cash conversion cycle calculation (quarterly data)

No. days

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
Average inventory processing period 37 37 41 48 41 42 42 48 40 42 43 50 44 44 43 50 44 45 45 51 45 46 45
Average receivable collection period 3 3 4 4 4 4 4 4 4 3 4 4 4 4 4 4 4 4 4 4 4 4 5
Average payables payment period 41 40 43 46 43 43 45 47 41 43 45 47 42 42 42 44 40 38 39 41 37 37 38
Short-term Activity Ratio
Cash conversion cycle1 -1 0 2 6 2 3 1 5 3 2 2 7 6 6 5 10 8 11 10 14 12 13 12
Benchmarks
Cash Conversion Cycle, Competitors2
Costco Wholesale Corp. 4 7 2 3 4 6 2 4 4 7 2 5 5 8 4 9 5 8 4 3 4 5 3
Dollar General Corp.
Home Depot Inc. 17 32 41 39 34 34 39 38 33 33 37 35 32 34 41 39 32 36 41 42 35 36 43
TJX Cos. Inc. 24 53 30 40 35 36 28 33 27 30 27 30 26 27 24 30 29 31 28 32 28 27 25

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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 37 + 341 = -1

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Walmart Inc.’s cash conversion cycle improved from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.