Stock Analysis on Net

Dollar General Corp. (NYSE:DG)

$22.49

This company has been moved to the archive! The financial data has not been updated since August 29, 2024.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Dollar General Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Aug 2, 2024 May 3, 2024 Feb 2, 2024 Nov 3, 2023 Aug 4, 2023 May 5, 2023 Feb 3, 2023 Oct 28, 2022 Jul 29, 2022 Apr 29, 2022 Jan 28, 2022 Oct 29, 2021 Jul 30, 2021 Apr 30, 2021 Jan 29, 2021 Oct 30, 2020 Jul 31, 2020 May 1, 2020 Jan 31, 2020 Nov 1, 2019 Aug 2, 2019 May 3, 2019 Feb 1, 2019 Nov 2, 2018 Aug 3, 2018 May 4, 2018
Short-term borrowings
Current portion of long-term obligations
Current portion of operating lease liabilities
Accounts payable
Accrued expenses and other
Income taxes payable
Current liabilities
Long-term obligations, excluding current portion
Long-term operating lease liabilities, excluding current portion
Deferred income taxes
Other liabilities
Noncurrent liabilities
Total liabilities
Preferred stock
Common stock
Additional paid-in capital
Retained earnings
Accumulated other comprehensive income (loss)
Shareholders’ equity
Total liabilities and shareholders’ equity

Based on: 10-Q (reporting date: 2024-08-02), 10-Q (reporting date: 2024-05-03), 10-K (reporting date: 2024-02-02), 10-Q (reporting date: 2023-11-03), 10-Q (reporting date: 2023-08-04), 10-Q (reporting date: 2023-05-05), 10-K (reporting date: 2023-02-03), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-Q (reporting date: 2022-04-29), 10-K (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-05-01), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-11-01), 10-Q (reporting date: 2019-08-02), 10-Q (reporting date: 2019-05-03), 10-K (reporting date: 2019-02-01), 10-Q (reporting date: 2018-11-02), 10-Q (reporting date: 2018-08-03), 10-Q (reporting date: 2018-05-04).


Current liabilities
The proportion of current liabilities relative to total liabilities and shareholders’ equity fluctuated between approximately 18.57% and 26.8% across the examined period. Notably, there was an increase from 20.21% in early 2018 peaks reaching close to 26.8% by mid-2022. Following this peak, the percentage decreased to around 20% by early 2023 but resumed a slight upward trend towards 22.45% in mid-2024. Accounts payable, a significant component of current liabilities, showed a sharp decline from over 18% in early 2019 to a low near 11% in mid-2019, then gradually increased again to roughly 15% by mid-2022, followed by a gradual decline to about 12% by mid-2024.
Long-term obligations and leases
Long-term obligations excluding the current portion exhibited a downward trend from about 22.91% in early 2018 to values around 12.82% to 12.33% in 2019, then rose to peak near 24.1% in early 2023, declining slightly to 19.6% by mid-2024. The current portions of long-term obligations remained negligible (<0.02%) until a sharp increase beginning in early 2022, reaching above 3% by mid-2022 and sustaining around 2.4%-2.5% through mid-2024. Long-term operating lease liabilities, excluding current portions, consistently represented a significant share, starting near 34% in early 2019 and slowly tapering to approximately 30.75% by mid-2024.
Other liabilities and deferred taxes
Deferred income taxes held steady between roughly 4.52% in early 2018, declining to just below 3% in 2019, then gradually increasing back to near 3.7% by mid-2024. Other liabilities remained a minor component, generally between 0.68% and 1.08%, with no distinct long-term trend.
Total liabilities
Total liabilities increased substantially from about 50% in early 2018 to over 78% by mid-2024, indicating a growing leverage ratio. The upward trend was steady with temporary fluctuations, particularly rising sharply after early 2019. In parallel, noncurrent liabilities grew from around 28.2% in early 2018 to near 60.7% in early 2023, slightly declining thereafter to approximately 54.7% by mid-2024.
Shareholders’ equity
The percentage of shareholders’ equity relative to total liabilities and equity decreased from nearly 50% in early 2018 to approximately 19-22% by mid-2024, highlighting a consistent reduction in equity proportion. Key elements of equity showed the following patterns:
Common stock
A gradual decline from 1.87% down to about 0.6% was observed, indicating minimal issuance or other changes relative to total capital.
Additional paid-in capital
Dropped sharply from around 25.7% in early 2018 to approximately 12% by mid-2024, suggesting substantial equity adjustments or share repurchases.
Retained earnings
Showed a decreasing trend from above 22% in early 2018 to a nadir below 6% in early 2023, with a moderate recovery to around 10% by mid-2024, reflecting periods of diminished profitability or dividend payments with some recovery later.
Accumulated other comprehensive income (loss)
Remained close to zero throughout, with a slight negative position early on, turning marginally positive by mid-2024.
Short-term borrowings and lease liabilities
Short-term borrowings as a percentage of total liabilities and equity appeared only in 2023 with a small figure around 0.84%, indicating limited reliance on short-term debt. Current portions of operating lease liabilities were first recorded in mid-2019 around 4.2% and remained very stable, fluctuating narrowly between 3.9% and 4.5%, showing consistent lease payment obligations over time.
Summary insights
The data reveals an increasing leverage position over the examined years, characterized by rising total liabilities and shrinking equity proportions. Noncurrent liabilities including leases constitute a large and stable portion of the capital structure, while current liabilities fluctuate more distinctly. Equity components reflect contraction, particularly in additional paid-in capital and retained earnings, indicating possible share buybacks, dividend distributions, or losses in certain periods. The lease obligations represent a substantial and steady liability burden. Overall, the shifts indicate a strategic increase in financial leverage coupled with moderate equity base reduction, potentially aimed at capital optimization or growth financing.