Debt to Equity
since 2005
Calculation
Best Buy Co. Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Total Best Buy Co., Inc. shareholders’ equity1 | |
|---|---|---|---|---|---|
| Jan 29, 2022 | 0.41 | = | 1,229) | ÷ | 3,020) |
| Jan 30, 2021 | 0.30 | = | 1,377) | ÷ | 4,587) |
| Feb 1, 2020 | 0.37 | = | 1,271) | ÷ | 3,479) |
| Feb 2, 2019 | 0.42 | = | 1,388) | ÷ | 3,306) |
| Feb 3, 2018 | 0.38 | = | 1,355) | ÷ | 3,612) |
| Jan 28, 2017 | 0.29 | = | 1,365) | ÷ | 4,709) |
| Jan 30, 2016 | 0.40 | = | 1,734) | ÷ | 4,378) |
| Jan 31, 2015 | 0.32 | = | 1,621) | ÷ | 4,995) |
| Feb 1, 2014 | 0.42 | = | 1,657) | ÷ | 3,986) |
| Feb 2, 2013 | 0.75 | = | 2,296) | ÷ | 3,061) |
| Mar 3, 2012 | 0.59 | = | 2,208) | ÷ | 3,745) |
| Feb 26, 2011 | 0.26 | = | 1,709) | ÷ | 6,602) |
| Feb 27, 2010 | 0.29 | = | 1,802) | ÷ | 6,320) |
| Feb 28, 2009 | 0.42 | = | 1,963) | ÷ | 4,643) |
| Mar 1, 2008 | 0.18 | = | 816) | ÷ | 4,484) |
| Mar 3, 2007 | 0.10 | = | 650) | ÷ | 6,201) |
| Feb 25, 2006 | 0.11 | = | 596) | ÷ | 5,257) |
| Feb 26, 2005 | 0.13 | = | 600) | ÷ | 4,449) |
Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-KT (reporting date: 2013-02-02), 10-K (reporting date: 2012-03-03), 10-K (reporting date: 2011-02-26), 10-K (reporting date: 2010-02-27), 10-K (reporting date: 2009-02-28), 10-K (reporting date: 2008-03-01), 10-K (reporting date: 2007-03-03), 10-K (reporting date: 2006-02-25), 10-K (reporting date: 2005-02-26).
1 US$ in millions
The financial profile of the company from 2005 to 2022 is characterized by a period of initial stability, a significant increase in leverage peaking in 2013, and a subsequent phase of stabilization.
- Early Capital Structure (2005–2007)
- During the initial years, a conservative capital structure was maintained. Total debt remained relatively stable between 600 million and 650 million US dollars, while shareholders' equity grew from 4.45 billion to 6.20 billion US dollars. This resulted in a low debt-to-equity ratio, which declined from 0.13 in 2005 to a period low of 0.10 in 2007.
- Leverage Expansion and Peak (2008–2013)
- A significant shift in leverage occurred starting in 2008. Total debt rose sharply, reaching 1.96 billion US dollars in 2009 and continuing an upward trajectory to a peak of 2.30 billion US dollars in 2013. Concurrently, shareholders' equity experienced a marked decline from its 2011 high of 6.60 billion US dollars to 3.06 billion US dollars in 2013. The combination of increasing debt and contracting equity caused the debt-to-equity ratio to spike, reaching a maximum of 0.75 in 2013.
- Deleveraging and Stabilization (2014–2022)
- Following the 2013 peak, a deleveraging trend emerged. Total debt was reduced to 1.66 billion US dollars in 2014 and further decreased to a range between 1.23 billion and 1.38 billion US dollars from 2017 through 2022. Shareholders' equity remained volatile, fluctuating between 3.02 billion and 4.99 billion US dollars. As a result, the debt-to-equity ratio normalized and remained relatively stable in the latter part of the period, fluctuating between 0.29 and 0.42.
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Comparison to Competitors
Best Buy Co. Inc., debt to equity, long-term trends, comparison to competitors
| Best Buy Co. Inc. | Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | TJX Cos. Inc. | |
|---|---|---|---|---|---|
| Jan 29, 2022 | 0.41 | 0.46 | — | — | 0.56 |
| Jan 30, 2021 | 0.30 | 0.35 | 11.29 | 15.16 | 1.04 |
| Feb 1, 2020 | 0.37 | 0.34 | — | 9.79 | 0.38 |
| Feb 2, 2019 | 0.42 | 0.38 | — | 4.45 | 0.44 |
| Feb 3, 2018 | 0.38 | 0.54 | 18.59 | 2.89 | 0.43 |
| Jan 28, 2017 | 0.29 | 0.89 | 5.45 | 2.44 | 0.49 |
| Jan 30, 2016 | 0.40 | 0.40 | 3.37 | 1.65 | 0.38 |
| Jan 31, 2015 | 0.32 | 0.62 | 1.84 | 1.14 | 0.38 |
| Feb 1, 2014 | 0.42 | 0.77 | 1.18 | 0.89 | 0.30 |
| Feb 2, 2013 | 0.75 | 0.33 | 0.61 | 0.66 | 0.21 |
| Mar 3, 2012 | 0.59 | 0.38 | 0.60 | 0.46 | 0.25 |
| Feb 26, 2011 | 0.26 | 0.03 | 0.52 | 0.36 | 0.25 |
| Feb 27, 2010 | 0.29 | 0.03 | 0.50 | 0.27 | 0.27 |
| Feb 28, 2009 | 0.42 | 0.02 | 0.64 | 0.34 | 0.36 |
| Mar 1, 2008 | 0.18 | 0.15 | 0.76 | 0.41 | 0.40 |
| Mar 3, 2007 | 0.10 | 1.07 | 0.47 | 0.28 | 0.35 |
| Feb 25, 2006 | 0.11 | 2.89 | 0.15 | 0.25 | 0.43 |
| Feb 26, 2005 | 0.13 | 6.18 | 0.09 | 0.32 | 0.42 |
Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-KT (reporting date: 2013-02-02), 10-K (reporting date: 2012-03-03), 10-K (reporting date: 2011-02-26), 10-K (reporting date: 2010-02-27), 10-K (reporting date: 2009-02-28), 10-K (reporting date: 2008-03-01), 10-K (reporting date: 2007-03-03), 10-K (reporting date: 2006-02-25), 10-K (reporting date: 2005-02-26).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
Best Buy Co. Inc., debt to equity, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| Best Buy Co. Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Jan 29, 2022 | 0.41 | 0.93 |
| Jan 30, 2021 | 0.30 | 0.77 |
| Feb 1, 2020 | 0.37 | 0.86 |
| Feb 2, 2019 | 0.42 | 1.03 |
| Feb 3, 2018 | 0.38 | 1.24 |
| Jan 28, 2017 | 0.29 | 1.54 |
| Jan 30, 2016 | 0.40 | 1.15 |
| Jan 31, 2015 | 0.32 | 1.04 |
| Feb 1, 2014 | 0.42 | 0.88 |
| Feb 2, 2013 | 0.75 | 0.53 |
| Mar 3, 2012 | 0.59 | 0.49 |
| Feb 26, 2011 | 0.26 | 0.36 |
| Feb 27, 2010 | 0.29 | 0.33 |
| Feb 28, 2009 | 0.42 | 0.43 |
| Mar 1, 2008 | 0.18 | 0.55 |
| Mar 3, 2007 | 0.10 | 0.41 |
| Feb 25, 2006 | 0.11 | 0.22 |
| Feb 26, 2005 | 0.13 | 0.21 |
Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-KT (reporting date: 2013-02-02), 10-K (reporting date: 2012-03-03), 10-K (reporting date: 2011-02-26), 10-K (reporting date: 2010-02-27), 10-K (reporting date: 2009-02-28), 10-K (reporting date: 2008-03-01), 10-K (reporting date: 2007-03-03), 10-K (reporting date: 2006-02-25), 10-K (reporting date: 2005-02-26).
Comparison to Industry (Consumer Discretionary)
Best Buy Co. Inc., debt to equity, long-term trends, comparison to industry (consumer discretionary)
| Best Buy Co. Inc. | Consumer Discretionary | |
|---|---|---|
| Jan 29, 2022 | 0.41 | 1.44 |
| Jan 30, 2021 | 0.30 | 1.41 |
| Feb 1, 2020 | 0.37 | 2.17 |
| Feb 2, 2019 | 0.42 | 2.60 |
| Feb 3, 2018 | 0.38 | 2.59 |
| Jan 28, 2017 | 0.29 | 2.55 |
| Jan 30, 2016 | 0.40 | 2.21 |
| Jan 31, 2015 | 0.32 | 1.88 |
| Feb 1, 2014 | 0.42 | 1.60 |
| Feb 2, 2013 | 0.75 | 1.25 |
| Mar 3, 2012 | 0.59 | 1.19 |
| Feb 26, 2011 | 0.26 | 1.09 |
| Feb 27, 2010 | 0.29 | 1.26 |
| Feb 28, 2009 | 0.42 | 2.58 |
| Mar 1, 2008 | 0.18 | 4.06 |
| Mar 3, 2007 | 0.10 | 2.62 |
| Feb 25, 2006 | 0.11 | 2.96 |
| Feb 26, 2005 | 0.13 | 2.35 |
Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-KT (reporting date: 2013-02-02), 10-K (reporting date: 2012-03-03), 10-K (reporting date: 2011-02-26), 10-K (reporting date: 2010-02-27), 10-K (reporting date: 2009-02-28), 10-K (reporting date: 2008-03-01), 10-K (reporting date: 2007-03-03), 10-K (reporting date: 2006-02-25), 10-K (reporting date: 2005-02-26).