Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Analysis of Reportable Segments
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Aggregate Accruals
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Walmart Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 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).
- Cash and Cash Equivalents
- The cash and cash equivalents balance experienced notable fluctuations over the periods. A significant increase occurred in early 2020, rising from around $9.5 billion to over $17 billion by January 2021. Subsequently, the balance declined gradually, reaching values near $8.8 billion in mid-2024 before slightly recovering to about $9.4 billion by April 2025. This volatility suggests shifts in liquidity management possibly associated with operational needs or investment activities.
- Receivables, Net
- Receivables showed a general trend of gradual growth over the analyzed timeframe. After a dip in mid-2020, balances steadily increased to peak near $10.5 billion by late 2024 and early 2025. This upward trajectory indicates ongoing sales growth or extended credit terms to customers, which could impact working capital.
- Inventories
- Inventories demonstrated considerable variability with a cyclical pattern observable across quarters. There was a substantial increase during late 2019 and again in late 2021 and 2024, reaching peaks above $63 billion. Periods of inventory reduction alternated, with lows around $41 billion to $44 billion during certain quarters in 2020 and 2023. This fluctuation likely reflects seasonal sales patterns and inventory restocking strategies.
- Prepaid Expenses and Other
- This line item remained relatively stable but with sporadic spikes, notably a marked jump to over $20 billion in January 2021, which stands out as an anomaly compared to amounts generally in the $1.5 to $4.3 billion range. The overall pattern suggests periodic adjustments in prepaid assets or other short-term receivables.
- Current Assets
- Current assets trended upward, with a significant peak in January 2021 exceeding $90 billion, driven mainly by the increase in cash and prepaid expenses during that quarter. Afterwards, current assets stabilized in a $75 billion to $88 billion band, suggesting maintained liquidity and asset management consistency.
- Property and Equipment, Net
- Net property and equipment values showed a general upward trend, increasing from approximately $104 billion in early 2019 to over $125 billion by April 2025. The steady growth indicates ongoing capital expenditures or asset acquisitions despite some short-term declines around 2020 and 2021, possibly connected to operational adjustments during that period.
- Finance Lease Right-of-Use Assets, Net
- The right-of-use assets related to finance leases increased moderately over time, from about $3.8 billion in 2019 to roughly $6.1 billion in early 2025. This gradual increase reflects an expanding portfolio of leased assets capitalized under the relevant accounting standards.
- Property and Equipment Including Lease Assets, Net
- Combining tangible assets and leased assets shows a consistent upward trajectory, from approximately $108 billion in 2019 to over $131 billion by early 2025. Minor dips correlate with similar declines in the core property and equipment, yet the overall appreciation underscores ongoing investment in fixed assets and leases.
- Operating Lease Right-of-Use Assets
- These assets remained relatively stable in the $13.5 billion to $17 billion range, with a noticeable decline in 2020 and partial recovery thereafter. This stability suggests controlled leasing commitments without significant expansions or reductions.
- Goodwill
- Goodwill exhibited a slight downward drift from over $31 billion in 2019 to approximately $28 billion through 2025, with some fluctuations. This trend may reflect impairments, divestitures, or acquisition adjustments affecting intangible asset valuation.
- Other Long-Term Assets
- Other long-term assets showed significant volatility, spiking to nearly $23 billion in 2020 before dramatically declining to levels around $12 billion to $14 billion in later periods. This pattern suggests reclassification, disposals, or impairment of certain long-term investments or intangible assets.
- Long-Term Assets
- Overall, long-term assets maintained a broad range between $159 billion and $188 billion, with a trough near 2021 and recovery to peak values by 2025. The fluctuations align with changes in property, lease assets, goodwill, and other long-term investments.
- Total Assets
- Total assets fluctuated moderately, ranging from about $232 billion to over $270 billion, with a peak around late 2024 and early 2025. The data implies steady asset growth punctuated by short-term declines, reflecting company activity including capital investments, asset disposals, or operational changes.