May. 13 at 11:59 AM
$WMT Walmart sources tons of goods from China and low-cost spots like Vietnam. Its size pushes suppliers for long payment terms, like 60-90 days. Cash from customers hits first, before paying suppliers. Payments follow contracts, not each item’s sale.
Liabilities at
$107B beat
$84B assets (up from Q4 2024’s
$96B vs
$79B). That’s negative working capital. A
$1T stock, but built on supplier credit.
Like a river fed by upstream factories. It flows strong, holds back tributary payback. Cash mills spin downstream first, coffers fill, then upstream gets its share on schedule. Scale shifts timing: cash powers ahead, suppliers trust the flow.
