Using the ratios and information given for Wal-Mart, a retailer, analyze the short-term liquidity and operating efficiency of the firm as of January 31,2008.

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Financial ratios For the years ended January 31, 2008 2007 Liquidity Current (times) Quick (times) Cash flow liquidity (times) Average collection period Days inventory held Days payable outstanding Cash conversion cycle 0.81 0.21 0.44 4 days 45 days 39 days 10 days 0.90 0.25 0.53 3 days 47 days 39 days days Activity Fixed asset turnover (times) Total asset turnover (times) Other information 3.90 2.32 3.94 2.31 Cash flow from operations (in mnsof) 20,354 Revenues (in millions of $) 19,997 348,650 378,799