Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
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- Common-Size Income Statement
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Solvency Ratios (Summary)
Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).
Solvency ratio | Description | The company |
---|---|---|
Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | AutoZone Inc. debt to capital ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | AutoZone Inc. debt to capital ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023. |
Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | AutoZone Inc. debt to assets ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | AutoZone Inc. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023. |
Solvency ratio | Description | The company |
---|---|---|
Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | AutoZone Inc. interest coverage ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | AutoZone Inc. fixed charge coverage ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Debt to Equity
Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Current portion of finance lease liabilities | |||||||
Long-term debt | |||||||
Finance lease liabilities, less current portion | |||||||
Total debt | |||||||
Stockholders’ deficit | |||||||
Solvency Ratio | |||||||
Debt to equity1 | |||||||
Benchmarks | |||||||
Debt to Equity, Competitors2 | |||||||
Amazon.com Inc. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
TJX Cos. Inc. | |||||||
Debt to Equity, Sector | |||||||
Consumer Discretionary Distribution & Retail | |||||||
Debt to Equity, Industry | |||||||
Consumer Discretionary |
Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).
1 2023 Calculation
Debt to equity = Total debt ÷ Stockholders’ deficit
= ÷ =
2 Click competitor name to see calculations.
Debt to Equity (including Operating Lease Liability)
AutoZone Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Current portion of finance lease liabilities | |||||||
Long-term debt | |||||||
Finance lease liabilities, less current portion | |||||||
Total debt | |||||||
Current portion of operating lease liabilities | |||||||
Operating lease liabilities, less current portion | |||||||
Total debt (including operating lease liability) | |||||||
Stockholders’ deficit | |||||||
Solvency Ratio | |||||||
Debt to equity (including operating lease liability)1 | |||||||
Benchmarks | |||||||
Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||
Amazon.com Inc. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
TJX Cos. Inc. | |||||||
Debt to Equity (including Operating Lease Liability), Sector | |||||||
Consumer Discretionary Distribution & Retail | |||||||
Debt to Equity (including Operating Lease Liability), Industry | |||||||
Consumer Discretionary |
Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).
1 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ deficit
= ÷ =
2 Click competitor name to see calculations.
Debt to Capital
Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Current portion of finance lease liabilities | |||||||
Long-term debt | |||||||
Finance lease liabilities, less current portion | |||||||
Total debt | |||||||
Stockholders’ deficit | |||||||
Total capital | |||||||
Solvency Ratio | |||||||
Debt to capital1 | |||||||
Benchmarks | |||||||
Debt to Capital, Competitors2 | |||||||
Amazon.com Inc. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
TJX Cos. Inc. | |||||||
Debt to Capital, Sector | |||||||
Consumer Discretionary Distribution & Retail | |||||||
Debt to Capital, Industry | |||||||
Consumer Discretionary |
Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).
1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | AutoZone Inc. debt to capital ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Debt to Capital (including Operating Lease Liability)
AutoZone Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Current portion of finance lease liabilities | |||||||
Long-term debt | |||||||
Finance lease liabilities, less current portion | |||||||
Total debt | |||||||
Current portion of operating lease liabilities | |||||||
Operating lease liabilities, less current portion | |||||||
Total debt (including operating lease liability) | |||||||
Stockholders’ deficit | |||||||
Total capital (including operating lease liability) | |||||||
Solvency Ratio | |||||||
Debt to capital (including operating lease liability)1 | |||||||
Benchmarks | |||||||
Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||
Amazon.com Inc. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
TJX Cos. Inc. | |||||||
Debt to Capital (including Operating Lease Liability), Sector | |||||||
Consumer Discretionary Distribution & Retail | |||||||
Debt to Capital (including Operating Lease Liability), Industry | |||||||
Consumer Discretionary |
Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).
1 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | AutoZone Inc. debt to capital ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023. |
Debt to Assets
Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Current portion of finance lease liabilities | |||||||
Long-term debt | |||||||
Finance lease liabilities, less current portion | |||||||
Total debt | |||||||
Total assets | |||||||
Solvency Ratio | |||||||
Debt to assets1 | |||||||
Benchmarks | |||||||
Debt to Assets, Competitors2 | |||||||
Amazon.com Inc. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
TJX Cos. Inc. | |||||||
Debt to Assets, Sector | |||||||
Consumer Discretionary Distribution & Retail | |||||||
Debt to Assets, Industry | |||||||
Consumer Discretionary |
Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).
1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | AutoZone Inc. debt to assets ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Debt to Assets (including Operating Lease Liability)
AutoZone Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Current portion of finance lease liabilities | |||||||
Long-term debt | |||||||
Finance lease liabilities, less current portion | |||||||
Total debt | |||||||
Current portion of operating lease liabilities | |||||||
Operating lease liabilities, less current portion | |||||||
Total debt (including operating lease liability) | |||||||
Total assets | |||||||
Solvency Ratio | |||||||
Debt to assets (including operating lease liability)1 | |||||||
Benchmarks | |||||||
Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||
Amazon.com Inc. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
TJX Cos. Inc. | |||||||
Debt to Assets (including Operating Lease Liability), Sector | |||||||
Consumer Discretionary Distribution & Retail | |||||||
Debt to Assets (including Operating Lease Liability), Industry | |||||||
Consumer Discretionary |
Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).
1 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | AutoZone Inc. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023. |
Financial Leverage
Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Total assets | |||||||
Stockholders’ deficit | |||||||
Solvency Ratio | |||||||
Financial leverage1 | |||||||
Benchmarks | |||||||
Financial Leverage, Competitors2 | |||||||
Amazon.com Inc. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
TJX Cos. Inc. | |||||||
Financial Leverage, Sector | |||||||
Consumer Discretionary Distribution & Retail | |||||||
Financial Leverage, Industry | |||||||
Consumer Discretionary |
Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).
1 2023 Calculation
Financial leverage = Total assets ÷ Stockholders’ deficit
= ÷ =
2 Click competitor name to see calculations.
Interest Coverage
Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Net income | |||||||
Add: Income tax expense | |||||||
Add: Interest expense, less capitalized interest | |||||||
Earnings before interest and tax (EBIT) | |||||||
Solvency Ratio | |||||||
Interest coverage1 | |||||||
Benchmarks | |||||||
Interest Coverage, Competitors2 | |||||||
Amazon.com Inc. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
TJX Cos. Inc. | |||||||
Interest Coverage, Sector | |||||||
Consumer Discretionary Distribution & Retail | |||||||
Interest Coverage, Industry | |||||||
Consumer Discretionary |
Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).
1 2023 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | AutoZone Inc. interest coverage ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Fixed Charge Coverage
Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Net income | |||||||
Add: Income tax expense | |||||||
Add: Interest expense, less capitalized interest | |||||||
Earnings before interest and tax (EBIT) | |||||||
Add: Operating lease cost | |||||||
Earnings before fixed charges and tax | |||||||
Interest expense, less capitalized interest | |||||||
Operating lease cost | |||||||
Fixed charges | |||||||
Solvency Ratio | |||||||
Fixed charge coverage1 | |||||||
Benchmarks | |||||||
Fixed Charge Coverage, Competitors2 | |||||||
Amazon.com Inc. | |||||||
Home Depot Inc. | |||||||
Lowe’s Cos. Inc. | |||||||
TJX Cos. Inc. | |||||||
Fixed Charge Coverage, Sector | |||||||
Consumer Discretionary Distribution & Retail | |||||||
Fixed Charge Coverage, Industry | |||||||
Consumer Discretionary |
Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).
1 2023 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | AutoZone Inc. fixed charge coverage ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |