Analysis of Short-term (Operating) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Walmart Inc., short-term (operating) activity ratios (quarterly data)
Based on: 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).
| 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 Q2 2025 to Q3 2025 but then improved from Q3 2025 to Q4 2025 exceeding Q2 2025 level. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Walmart Inc. receivables turnover ratio deteriorated from Q2 2025 to Q3 2025 but then slightly improved from Q3 2025 to Q4 2025. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Walmart Inc. payables turnover ratio decreased from Q2 2025 to Q3 2025 but then increased from Q3 2025 to Q4 2025 not reaching Q2 2025 level. |
| 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. number of days of payables outstanding increased from Q2 2025 to Q3 2025 but then slightly decreased from Q3 2025 to Q4 2025 not reaching Q2 2025 level. |
| 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. cash conversion cycle deteriorated from Q2 2025 to Q3 2025 but then improved from Q3 2025 to Q4 2025 exceeding Q2 2025 level. |
Inventory Turnover
Walmart Inc., inventory turnover calculation (quarterly data)
| Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||
| Cost of sales | 136,172) | 127,340) | 126,810) | 121,431) | 131,825) | 121,183) | 121,850) | 115,284) | 125,423) | 115,613) | 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) | |||||||
| Inventories | 56,435) | 63,302) | 55,611) | 55,382) | 54,892) | 63,951) | 56,722) | 56,932) | 56,576) | 64,706) | 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) | |||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||
| Inventory turnover1 | 9.07 | 8.02 | 9.01 | 8.96 | 8.93 | 7.56 | 8.43 | 8.29 | 8.20 | 7.01 | 7.40 | 7.06 | 7.59 | 7.46 | 8.88 | 9.09 | 9.35 | 7.96 | 9.94 | 9.79 | 8.88 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | |||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 12.30 | 10.77 | 11.92 | 12.74 | 12.77 | 11.96 | 12.77 | 12.68 | 12.82 | 10.94 | 11.13 | 10.81 | 11.14 | 10.46 | 12.01 | 11.62 | 11.19 | 10.08 | 11.84 | 12.70 | 11.63 | 9.73 | |||||||
| Target Corp. | 6.00 | 5.08 | 6.09 | 6.55 | 6.54 | 5.31 | 6.29 | 6.51 | 6.09 | 4.73 | 5.19 | 5.09 | 5.39 | 4.86 | 6.22 | 6.49 | 6.21 | 4.94 | 6.78 | 6.65 | 6.10 | — | — | — | |||||||
Based on: 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).
1 Q4 2025 Calculation
Inventory turnover
= (Cost of salesQ4 2025
+ Cost of salesQ3 2025
+ Cost of salesQ2 2025
+ Cost of salesQ1 2025)
÷ Inventories
= (136,172 + 127,340 + 126,810 + 121,431)
÷ 56,435 = 9.07
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 Q2 2025 to Q3 2025 but then improved from Q3 2025 to Q4 2025 exceeding Q2 2025 level. |
Receivables Turnover
Walmart Inc., receivables turnover calculation (quarterly data)
| Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||
| Net sales | 178,830) | 168,003) | 167,767) | 159,938) | 171,914) | 159,439) | 160,280) | 151,004) | 162,743) | 151,469) | 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) | |||||||
| Receivables, net | 9,975) | 10,039) | 8,650) | 9,075) | 8,796) | 8,625) | 7,891) | 7,647) | 7,933) | 8,218) | 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) | |||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||
| Receivables turnover1 | 67.62 | 66.50 | 76.19 | 71.80 | 73.06 | 73.45 | 79.27 | 80.63 | 76.37 | 72.36 | 77.43 | 74.39 | 68.57 | 77.18 | 92.05 | 96.38 | 85.21 | 94.43 | 105.28 | 105.52 | 82.74 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | |||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 84.67 | 85.69 | 91.74 | 96.35 | 87.83 | 94.80 | 104.03 | 92.34 | 84.76 | 98.08 | 99.39 | 107.19 | 92.37 | 103.07 | 106.52 | 114.66 | 90.47 | 102.87 | 105.30 | 104.44 | 77.92 | 88.41 | |||||||
Based on: 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).
1 Q4 2025 Calculation
Receivables turnover
= (Net salesQ4 2025
+ Net salesQ3 2025
+ Net salesQ2 2025
+ Net salesQ1 2025)
÷ Receivables, net
= (178,830 + 168,003 + 167,767 + 159,938)
÷ 9,975 = 67.62
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 deteriorated from Q2 2025 to Q3 2025 but then slightly improved from Q3 2025 to Q4 2025. |
Payables Turnover
Walmart Inc., payables turnover calculation (quarterly data)
| Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||
| Cost of sales | 136,172) | 127,340) | 126,810) | 121,431) | 131,825) | 121,183) | 121,850) | 115,284) | 125,423) | 115,613) | 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) | |||||||
| Accounts payable | 58,666) | 62,863) | 56,716) | 56,071) | 56,812) | 61,049) | 56,576) | 54,268) | 53,742) | 57,263) | 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) | |||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||
| Payables turnover1 | 8.72 | 8.07 | 8.84 | 8.85 | 8.63 | 7.92 | 8.45 | 8.70 | 8.63 | 7.93 | 8.18 | 8.17 | 7.76 | 7.50 | 8.55 | 8.75 | 8.55 | 7.62 | 8.81 | 9.15 | 8.40 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | |||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 12.39 | 10.37 | 11.45 | 11.78 | 12.46 | 10.57 | 12.16 | 12.28 | 12.56 | 11.07 | 11.17 | 10.80 | 10.74 | 9.06 | 10.49 | 10.45 | 10.79 | 8.83 | 10.23 | 12.93 | 12.45 | 9.31 | |||||||
| Target Corp. | 5.86 | 5.34 | 6.10 | 6.64 | 6.43 | 5.48 | 6.50 | 6.88 | 6.10 | 5.25 | 5.34 | 5.46 | 4.84 | 4.47 | 5.54 | 5.88 | 5.15 | 4.42 | 5.61 | 5.94 | 5.53 | — | — | — | |||||||
Based on: 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).
1 Q4 2025 Calculation
Payables turnover
= (Cost of salesQ4 2025
+ Cost of salesQ3 2025
+ Cost of salesQ2 2025
+ Cost of salesQ1 2025)
÷ Accounts payable
= (136,172 + 127,340 + 126,810 + 121,431)
÷ 58,666 = 8.72
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 decreased from Q2 2025 to Q3 2025 but then increased from Q3 2025 to Q4 2025 not reaching Q2 2025 level. |
Working Capital Turnover
Walmart Inc., working capital turnover calculation (quarterly data)
| Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||
| Current assets | 79,458) | 86,938) | 76,510) | 77,152) | 76,877) | 88,391) | 82,032) | 78,511) | 75,655) | 87,680) | 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) | |||||||
| Less: Current liabilities | 96,584) | 102,558) | 95,260) | 96,100) | 92,415) | 104,230) | 99,220) | 95,505) | 92,198) | 101,408) | 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) | |||||||
| Working capital | (17,126) | (15,620) | (18,750) | (18,948) | (15,538) | (15,839) | (17,188) | (16,994) | (16,543) | (13,728) | (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) | |||||||
| Net sales | 178,830) | 168,003) | 167,767) | 159,938) | 171,914) | 159,439) | 160,280) | 151,004) | 162,743) | 151,469) | 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) | |||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||
| Working capital turnover1 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | |||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | — | — | — | — | — | 72.76 | 103.53 | 89.52 | 126.82 | 209.37 | 319.10 | 183.50 | 202.13 | 391.97 | 3,000.81 | — | — | — | 49.82 | 63.59 | 153.67 | 400.20 | |||||||
| Target Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 124.01 | 73.63 | 148.27 | 93.09 | 48.90 | 394.58 | — | — | — | — | |||||||
Based on: 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).
1 Q4 2025 Calculation
Working capital turnover
= (Net salesQ4 2025
+ Net salesQ3 2025
+ Net salesQ2 2025
+ Net salesQ1 2025)
÷ Working capital
= (178,830 + 168,003 + 167,767 + 159,938)
÷ -17,126 = —
2 Click competitor name to see calculations.
Average Inventory Processing Period
Walmart Inc., average inventory processing period calculation (quarterly data)
| Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||||||||||||||||
| Inventory turnover | 9.07 | 8.02 | 9.01 | 8.96 | 8.93 | 7.56 | 8.43 | 8.29 | 8.20 | 7.01 | 7.40 | 7.06 | 7.59 | 7.46 | 8.88 | 9.09 | 9.35 | 7.96 | 9.94 | 9.79 | 8.88 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||||
| Average inventory processing period1 | 40 | 46 | 40 | 41 | 41 | 48 | 43 | 44 | 45 | 52 | 49 | 52 | 48 | 49 | 41 | 40 | 39 | 46 | 37 | 37 | 41 | — | — | — | |||||||
| Benchmarks (no. days) | |||||||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | |||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 30 | 34 | 31 | 29 | 29 | 31 | 29 | 29 | 28 | 33 | 33 | 34 | 33 | 35 | 30 | 31 | 33 | 36 | 31 | 29 | 31 | 37 | |||||||
| Target Corp. | 61 | 72 | 60 | 56 | 56 | 69 | 58 | 56 | 60 | 77 | 70 | 72 | 68 | 75 | 59 | 56 | 59 | 74 | 54 | 55 | 60 | — | — | — | |||||||
Based on: 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).
1 Q4 2025 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 9.07 = 40
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)
| Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||||||||||||||||
| Receivables turnover | 67.62 | 66.50 | 76.19 | 71.80 | 73.06 | 73.45 | 79.27 | 80.63 | 76.37 | 72.36 | 77.43 | 74.39 | 68.57 | 77.18 | 92.05 | 96.38 | 85.21 | 94.43 | 105.28 | 105.52 | 82.74 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||||
| Average receivable collection period1 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 4 | 4 | 4 | 4 | 3 | 3 | 4 | — | — | — | |||||||
| Benchmarks (no. days) | |||||||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | |||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 3 | 4 | 4 | 3 | 3 | 4 | 4 | 3 | 3 | 5 | 4 | |||||||
Based on: 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).
1 Q4 2025 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 67.62 = 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
| Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||||||||||||||||
| Average inventory processing period | 40 | 46 | 40 | 41 | 41 | 48 | 43 | 44 | 45 | 52 | 49 | 52 | 48 | 49 | 41 | 40 | 39 | 46 | 37 | 37 | 41 | — | — | — | |||||||
| Average receivable collection period | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 4 | 4 | 4 | 4 | 3 | 3 | 4 | — | — | — | |||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||
| Operating cycle1 | 45 | 51 | 45 | 46 | 46 | 53 | 48 | 49 | 50 | 57 | 54 | 57 | 53 | 54 | 45 | 44 | 43 | 50 | 40 | 40 | 45 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | |||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 34 | 38 | 35 | 33 | 33 | 35 | 33 | 33 | 32 | 37 | 37 | 37 | 37 | 39 | 33 | 34 | 37 | 40 | 34 | 32 | 36 | 41 | |||||||
Based on: 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).
1 Q4 2025 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 40 + 5 = 45
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)
| Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||||||||||||||||
| Payables turnover | 8.72 | 8.07 | 8.84 | 8.85 | 8.63 | 7.92 | 8.45 | 8.70 | 8.63 | 7.93 | 8.18 | 8.17 | 7.76 | 7.50 | 8.55 | 8.75 | 8.55 | 7.62 | 8.81 | 9.15 | 8.40 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||||
| Average payables payment period1 | 42 | 45 | 41 | 41 | 42 | 46 | 43 | 42 | 42 | 46 | 45 | 45 | 47 | 49 | 43 | 42 | 43 | 48 | 41 | 40 | 43 | — | — | — | |||||||
| Benchmarks (no. days) | |||||||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | |||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 29 | 35 | 32 | 31 | 29 | 35 | 30 | 30 | 29 | 33 | 33 | 34 | 34 | 40 | 35 | 35 | 34 | 41 | 36 | 28 | 29 | 39 | |||||||
| Target Corp. | 62 | 68 | 60 | 55 | 57 | 67 | 56 | 53 | 60 | 70 | 68 | 67 | 75 | 82 | 66 | 62 | 71 | 83 | 65 | 61 | 66 | — | — | — | |||||||
Based on: 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).
1 Q4 2025 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 8.72 = 42
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. number of days of payables outstanding increased from Q2 2025 to Q3 2025 but then slightly decreased from Q3 2025 to Q4 2025 not reaching Q2 2025 level. |
Cash Conversion Cycle
Walmart Inc., cash conversion cycle calculation (quarterly data)
No. days
| Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||||||||||||||||
| Average inventory processing period | 40 | 46 | 40 | 41 | 41 | 48 | 43 | 44 | 45 | 52 | 49 | 52 | 48 | 49 | 41 | 40 | 39 | 46 | 37 | 37 | 41 | — | — | — | |||||||
| Average receivable collection period | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 4 | 4 | 4 | 4 | 3 | 3 | 4 | — | — | — | |||||||
| Average payables payment period | 42 | 45 | 41 | 41 | 42 | 46 | 43 | 42 | 42 | 46 | 45 | 45 | 47 | 49 | 43 | 42 | 43 | 48 | 41 | 40 | 43 | — | — | — | |||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||
| Cash conversion cycle1 | 3 | 6 | 4 | 5 | 4 | 7 | 5 | 7 | 8 | 11 | 9 | 12 | 6 | 5 | 2 | 2 | 0 | 2 | -1 | 0 | 2 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||||
| Cash Conversion Cycle, Competitors2 | |||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 5 | 3 | 3 | 2 | 4 | 0 | 3 | 3 | 3 | 4 | 4 | 3 | 3 | -1 | -2 | -1 | 3 | -1 | -2 | 4 | 7 | 2 | |||||||
Based on: 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).
1 Q4 2025 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 40 + 5 – 42 = 3
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. cash conversion cycle deteriorated from Q2 2025 to Q3 2025 but then improved from Q3 2025 to Q4 2025 exceeding Q2 2025 level. |