Stock Analysis on Net

Walmart Inc. (NYSE:WMT)

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

Microsoft Excel

Short-term Activity Ratios (Summary)

Walmart Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 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
Turnover Ratios
Inventory turnover 7.40 7.06 7.59 7.46 8.88 9.09 9.35 7.96 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
Receivables turnover 77.43 74.39 68.57 77.18 92.05 96.38 85.21 94.43 105.28 105.52 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
Payables turnover 8.18 8.17 7.76 7.50 8.55 8.75 8.55 7.62 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
Working capital turnover
Average No. Days
Average inventory processing period 49 52 48 49 41 40 39 46 37 37 41 48 41 42 42 48 40 42 43 50 44 44 43
Add: Average receivable collection period 5 5 5 5 4 4 4 4 3 3 4 4 4 4 4 4 4 3 4 4 4 4 4
Operating cycle 54 57 53 54 45 44 43 50 40 40 45 52 45 46 46 52 44 45 47 54 48 48 47
Less: Average payables payment period 45 45 47 49 43 42 43 48 41 40 43 46 43 43 45 47 41 43 45 47 42 42 42
Cash conversion cycle 9 12 6 5 2 2 0 2 -1 0 2 6 2 3 1 5 3 2 2 7 6 6 5

Based on: 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30), 10-K (reporting date: 2018-01-31), 10-Q (reporting date: 2017-10-31), 10-Q (reporting date: 2017-07-31), 10-Q (reporting date: 2017-04-30), 10-K (reporting date: 2017-01-31), 10-Q (reporting date: 2016-10-31), 10-Q (reporting date: 2016-07-31), 10-Q (reporting date: 2016-04-30).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Walmart Inc. inventory turnover ratio deteriorated from Q4 2022 to Q1 2023 but then improved from Q1 2023 to Q2 2023 not reaching Q4 2022 level.
Receivables turnover An activity ratio equal to revenue divided by receivables. Walmart Inc. receivables turnover ratio improved from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Walmart Inc. payables turnover ratio increased from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023.

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. Walmart Inc. number of days of inventory outstanding deteriorated from Q4 2022 to Q1 2023 but then improved from Q1 2023 to Q2 2023 not reaching Q4 2022 level.
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. Walmart Inc. operating cycle deteriorated from Q4 2022 to Q1 2023 but then improved from Q1 2023 to Q2 2023 not reaching Q4 2022 level.
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.
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.

Inventory Turnover

Walmart Inc., inventory turnover calculation (quarterly data)

Microsoft Excel
Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 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
Selected Financial Data (US$ in millions)
Cost of sales 115,838 106,847 115,522 105,023 105,183 103,272 115,261 100,339 102,689 102,026 107,748 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
Inventories 59,921 61,229 56,511 57,484 47,754 46,383 44,949 51,842 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
Short-term Activity Ratio
Inventory turnover1 7.40 7.06 7.59 7.46 8.88 9.09 9.35 7.96 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
Benchmarks
Inventory Turnover, Competitors2
Costco Wholesale Corp. 11.13 10.81 11.14 10.46 12.01 11.62 11.19 10.08 11.84 12.70 11.63 9.73 11.66 11.52 11.28 10.34 11.16 11.40 11.06 10.27 11.38

Based on: 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30), 10-K (reporting date: 2018-01-31), 10-Q (reporting date: 2017-10-31), 10-Q (reporting date: 2017-07-31), 10-Q (reporting date: 2017-04-30), 10-K (reporting date: 2017-01-31), 10-Q (reporting date: 2016-10-31), 10-Q (reporting date: 2016-07-31), 10-Q (reporting date: 2016-04-30).

1 Q2 2023 Calculation
Inventory turnover = (Cost of salesQ2 2023 + Cost of salesQ1 2023 + Cost of salesQ4 2022 + Cost of salesQ3 2022) ÷ Inventories
= (115,838 + 106,847 + 115,522 + 105,023) ÷ 59,921 = 7.40

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. inventory turnover ratio deteriorated from Q4 2022 to Q1 2023 but then improved from Q1 2023 to Q2 2023 not reaching Q4 2022 level.

Receivables Turnover

Walmart Inc., receivables turnover calculation (quarterly data)

Microsoft Excel
Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 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
Selected Financial Data (US$ in millions)
Net sales 151,381 140,288 151,525 139,207 139,871 137,159 150,985 133,752 136,824 133,672 140,608 126,981 129,388 122,949 137,743 123,897 127,059 121,630 135,150 122,136 121,949 116,526 129,750 117,176 119,405 114,986
Receivables, net 7,522 7,674 8,280 7,349 6,103 5,797 6,516 5,770 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
Short-term Activity Ratio
Receivables turnover1 77.43 74.39 68.57 77.18 92.05 96.38 85.21 94.43 105.28 105.52 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
Benchmarks
Receivables Turnover, Competitors2
Costco Wholesale Corp. 99.39 107.19 92.37 103.07 106.52 114.66 90.47 102.87 105.30 104.44 77.92 88.41 97.30 85.87 72.17 78.90 82.94 85.61 66.45 83.27 88.11

Based on: 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30), 10-K (reporting date: 2018-01-31), 10-Q (reporting date: 2017-10-31), 10-Q (reporting date: 2017-07-31), 10-Q (reporting date: 2017-04-30), 10-K (reporting date: 2017-01-31), 10-Q (reporting date: 2016-10-31), 10-Q (reporting date: 2016-07-31), 10-Q (reporting date: 2016-04-30).

1 Q2 2023 Calculation
Receivables turnover = (Net salesQ2 2023 + Net salesQ1 2023 + Net salesQ4 2022 + Net salesQ3 2022) ÷ Receivables, net
= (151,381 + 140,288 + 151,525 + 139,207) ÷ 7,522 = 77.43

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. receivables turnover ratio improved from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023.

Payables Turnover

Walmart Inc., payables turnover calculation (quarterly data)

Microsoft Excel
Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 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
Selected Financial Data (US$ in millions)
Cost of sales 115,838 106,847 115,522 105,023 105,183 103,272 115,261 100,339 102,689 102,026 107,748 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
Accounts payable 54,191 52,926 55,261 57,156 49,601 48,151 49,141 54,152 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
Short-term Activity Ratio
Payables turnover1 8.18 8.17 7.76 7.50 8.55 8.75 8.55 7.62 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
Benchmarks
Payables Turnover, Competitors2
Costco Wholesale Corp. 11.17 10.80 10.74 9.06 10.49 10.45 10.79 8.83 10.23 12.93 12.45 9.31 11.38 11.49 11.96 9.61 10.96 11.32 11.73 9.61 11.64

Based on: 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30), 10-K (reporting date: 2018-01-31), 10-Q (reporting date: 2017-10-31), 10-Q (reporting date: 2017-07-31), 10-Q (reporting date: 2017-04-30), 10-K (reporting date: 2017-01-31), 10-Q (reporting date: 2016-10-31), 10-Q (reporting date: 2016-07-31), 10-Q (reporting date: 2016-04-30).

1 Q2 2023 Calculation
Payables turnover = (Cost of salesQ2 2023 + Cost of salesQ1 2023 + Cost of salesQ4 2022 + Cost of salesQ3 2022) ÷ Accounts payable
= (115,838 + 106,847 + 115,522 + 105,023) ÷ 54,191 = 8.18

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. payables turnover ratio increased from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023.

Working Capital Turnover

Walmart Inc., working capital turnover calculation (quarterly data)

Microsoft Excel
Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 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
Selected Financial Data (US$ in millions)
Current assets 84,164 83,220 81,070 82,964 78,243 76,591 90,067 73,602 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
Less: Current liabilities 99,899 96,530 87,379 87,620 81,122 80,841 92,645 88,121 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
Working capital (15,735) (13,310) (6,309) (4,656) (2,879) (4,250) (2,578) (14,519) (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)
 
Net sales 151,381 140,288 151,525 139,207 139,871 137,159 150,985 133,752 136,824 133,672 140,608 126,981 129,388 122,949 137,743 123,897 127,059 121,630 135,150 122,136 121,949 116,526 129,750 117,176 119,405 114,986
Short-term Activity Ratio
Working capital turnover1
Benchmarks
Working Capital Turnover, Competitors2
Costco Wholesale Corp. 319.10 183.50 202.13 391.97 3,000.81 49.82 63.59 153.67 400.20 602.22 294.44 381.36 483.61

Based on: 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30), 10-K (reporting date: 2018-01-31), 10-Q (reporting date: 2017-10-31), 10-Q (reporting date: 2017-07-31), 10-Q (reporting date: 2017-04-30), 10-K (reporting date: 2017-01-31), 10-Q (reporting date: 2016-10-31), 10-Q (reporting date: 2016-07-31), 10-Q (reporting date: 2016-04-30).

1 Q2 2023 Calculation
Working capital turnover = (Net salesQ2 2023 + Net salesQ1 2023 + Net salesQ4 2022 + Net salesQ3 2022) ÷ Working capital
= (151,381 + 140,288 + 151,525 + 139,207) ÷ -15,735 =

2 Click competitor name to see calculations.


Average Inventory Processing Period

Walmart Inc., average inventory processing period calculation (quarterly data)

Microsoft Excel
Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 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
Selected Financial Data
Inventory turnover 7.40 7.06 7.59 7.46 8.88 9.09 9.35 7.96 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
Short-term Activity Ratio (no. days)
Average inventory processing period1 49 52 48 49 41 40 39 46 37 37 41 48 41 42 42 48 40 42 43 50 44 44 43
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Costco Wholesale Corp. 33 34 33 35 30 31 33 36 31 29 31 37 31 32 32 35 33 32 33 36 32

Based on: 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30), 10-K (reporting date: 2018-01-31), 10-Q (reporting date: 2017-10-31), 10-Q (reporting date: 2017-07-31), 10-Q (reporting date: 2017-04-30), 10-K (reporting date: 2017-01-31), 10-Q (reporting date: 2016-10-31), 10-Q (reporting date: 2016-07-31), 10-Q (reporting date: 2016-04-30).

1 Q2 2023 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 7.40 = 49

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. Walmart Inc. number of days of inventory outstanding deteriorated from Q4 2022 to Q1 2023 but then improved from Q1 2023 to Q2 2023 not reaching Q4 2022 level.

Average Receivable Collection Period

Walmart Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel
Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 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
Selected Financial Data
Receivables turnover 77.43 74.39 68.57 77.18 92.05 96.38 85.21 94.43 105.28 105.52 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
Short-term Activity Ratio (no. days)
Average receivable collection period1 5 5 5 5 4 4 4 4 3 3 4 4 4 4 4 4 4 3 4 4 4 4 4
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Costco Wholesale Corp. 4 3 4 4 3 3 4 4 3 3 5 4 4 4 5 5 4 4 5 4 4

Based on: 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30), 10-K (reporting date: 2018-01-31), 10-Q (reporting date: 2017-10-31), 10-Q (reporting date: 2017-07-31), 10-Q (reporting date: 2017-04-30), 10-K (reporting date: 2017-01-31), 10-Q (reporting date: 2016-10-31), 10-Q (reporting date: 2016-07-31), 10-Q (reporting date: 2016-04-30).

1 Q2 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 77.43 = 5

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
Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 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
Selected Financial Data
Average inventory processing period 49 52 48 49 41 40 39 46 37 37 41 48 41 42 42 48 40 42 43 50 44 44 43
Average receivable collection period 5 5 5 5 4 4 4 4 3 3 4 4 4 4 4 4 4 3 4 4 4 4 4
Short-term Activity Ratio
Operating cycle1 54 57 53 54 45 44 43 50 40 40 45 52 45 46 46 52 44 45 47 54 48 48 47
Benchmarks
Operating Cycle, Competitors2
Costco Wholesale Corp. 37 37 37 39 33 34 37 40 34 32 36 41 35 36 37 40 37 36 38 40 36

Based on: 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30), 10-K (reporting date: 2018-01-31), 10-Q (reporting date: 2017-10-31), 10-Q (reporting date: 2017-07-31), 10-Q (reporting date: 2017-04-30), 10-K (reporting date: 2017-01-31), 10-Q (reporting date: 2016-10-31), 10-Q (reporting date: 2016-07-31), 10-Q (reporting date: 2016-04-30).

1 Q2 2023 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 49 + 5 = 54

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. Walmart Inc. operating cycle deteriorated from Q4 2022 to Q1 2023 but then improved from Q1 2023 to Q2 2023 not reaching Q4 2022 level.

Average Payables Payment Period

Walmart Inc., average payables payment period calculation (quarterly data)

Microsoft Excel
Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 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
Selected Financial Data
Payables turnover 8.18 8.17 7.76 7.50 8.55 8.75 8.55 7.62 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
Short-term Activity Ratio (no. days)
Average payables payment period1 45 45 47 49 43 42 43 48 41 40 43 46 43 43 45 47 41 43 45 47 42 42 42
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Costco Wholesale Corp. 33 34 34 40 35 35 34 41 36 28 29 39 32 32 31 38 33 32 31 38 31

Based on: 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30), 10-K (reporting date: 2018-01-31), 10-Q (reporting date: 2017-10-31), 10-Q (reporting date: 2017-07-31), 10-Q (reporting date: 2017-04-30), 10-K (reporting date: 2017-01-31), 10-Q (reporting date: 2016-10-31), 10-Q (reporting date: 2016-07-31), 10-Q (reporting date: 2016-04-30).

1 Q2 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 8.18 = 45

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.

Cash Conversion Cycle

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

No. days

Microsoft Excel
Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 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
Selected Financial Data
Average inventory processing period 49 52 48 49 41 40 39 46 37 37 41 48 41 42 42 48 40 42 43 50 44 44 43
Average receivable collection period 5 5 5 5 4 4 4 4 3 3 4 4 4 4 4 4 4 3 4 4 4 4 4
Average payables payment period 45 45 47 49 43 42 43 48 41 40 43 46 43 43 45 47 41 43 45 47 42 42 42
Short-term Activity Ratio
Cash conversion cycle1 9 12 6 5 2 2 0 2 -1 0 2 6 2 3 1 5 3 2 2 7 6 6 5
Benchmarks
Cash Conversion Cycle, Competitors2
Costco Wholesale Corp. 4 3 3 -1 -2 -1 3 -1 -2 4 7 2 3 4 6 2 4 4 7 2 5

Based on: 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30), 10-K (reporting date: 2018-01-31), 10-Q (reporting date: 2017-10-31), 10-Q (reporting date: 2017-07-31), 10-Q (reporting date: 2017-04-30), 10-K (reporting date: 2017-01-31), 10-Q (reporting date: 2016-10-31), 10-Q (reporting date: 2016-07-31), 10-Q (reporting date: 2016-04-30).

1 Q2 2023 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 49 + 545 = 9

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.