Walmart Inc (WMT)

Return on total capital

		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
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	25,909,000	25,483,000	23,632,000	27,061,000	23,572,000	25,830,000	23,386,000	19,140,000	19,144,000	14,841,000	21,480,000	20,795,000	21,849,000	16,571,000	18,435,000	21,301,000	22,879,000	29,273,000	26,623,000	22,873,000
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	91,013,000	88,108,000	84,423,000	81,293,000	83,861,000	79,456,000	79,556,000	72,405,000	76,693,000	72,253,000	77,569,000	76,896,000	83,253,000	82,274,000	80,529,000	78,335,000	81,298,000	81,431,000	75,310,000	68,240,000
Return on total capital		28.47%	28.92%	27.99%	33.29%	28.11%	32.51%	29.40%	26.43%	24.96%	20.54%	27.69%	27.04%	26.24%	20.14%	22.89%	27.19%	28.14%	35.95%	35.35%	33.52%

January 31, 2025 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $25,909,000K ÷ ($—K + $91,013,000K)
= 28.47%

Walmart Inc's return on total capital has shown variability over the past few years, ranging from a high of 35.95% in October 2020 to a low of 20.14% in October 2021. The trend in return on total capital has been somewhat fluctuating but overall has displayed a gradual decrease since October 2020. Despite some fluctuations, the return on total capital has generally remained above 20% since October 2021, indicating that Walmart Inc continues to generate a healthy return on its invested capital. It is important for investors and stakeholders to closely monitor the company's return on total capital to assess its efficiency in utilizing capital resources effectively over time.