Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.

Solvency Ratios (Summary)
Debt to Equity
Debt to Equity (including Operating Lease Liability)
Debt to Capital
Debt to Capital (including Operating Lease Liability)
Debt to Assets
Debt to Assets (including Operating Lease Liability)
Financial Leverage
Interest Coverage
Fixed Charge Coverage

Dollar General Corp., solvency ratios

	Jan 31, 2020	Feb 1, 2019	Feb 2, 2018	Feb 3, 2017	Jan 29, 2016	Jan 30, 2015
Debt Ratios
Debt to equity	0.43	0.45	0.49	0.59	0.55	0.48
Debt to equity (including operating lease liability)	1.75	0.45	0.49	0.59	0.55	0.48
Debt to capital	0.30	0.31	0.33	0.37	0.36	0.32
Debt to capital (including operating lease liability)	0.64	0.31	0.33	0.37	0.36	0.32
Debt to assets	0.13	0.22	0.24	0.28	0.26	0.24
Debt to assets (including operating lease liability)	0.51	0.22	0.24	0.28	0.26	0.24
Financial leverage	3.41	2.06	2.04	2.16	2.09	1.97
Coverage Ratios
Interest coverage	22.89	21.18	20.66	21.09	22.31	20.05
Fixed charge coverage	2.61	2.60	2.62	2.89	2.96	2.92

Based on: 10-K (filing date: 2020-03-19), 10-K (filing date: 2019-03-22), 10-K (filing date: 2018-03-23), 10-K (filing date: 2017-03-24), 10-K (filing date: 2016-03-22), 10-K (filing date: 2015-03-20).

Solvency ratio	Description	The company
Debt to equity ratio	A solvency ratio calculated as total debt divided by total shareholders’ equity.	Dollar General Corp.’s debt to equity ratio improved from 2018 to 2019 and from 2019 to 2020.
Debt to equity ratio (including operating lease liability)	A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity.	Dollar General Corp.’s debt to equity ratio (including operating lease liability) improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.
Debt to capital ratio	A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity.	Dollar General Corp.’s debt to capital ratio improved from 2018 to 2019 and from 2019 to 2020.
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.	Dollar General Corp.’s debt to capital ratio (including operating lease liability) improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.
Debt to assets ratio	A solvency ratio calculated as total debt divided by total assets.	Dollar General Corp.’s debt to assets ratio improved from 2018 to 2019 and from 2019 to 2020.
Debt to assets ratio (including operating lease liability)	A solvency ratio calculated as total debt (including operating lease liability) divided by total assets.	Dollar General Corp.’s debt to assets ratio (including operating lease liability) improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.
Financial leverage ratio	A solvency ratio calculated as total assets divided by total shareholders’ equity.	Dollar General Corp.’s financial leverage ratio increased from 2018 to 2019 and from 2019 to 2020.

Solvency ratio	Description	The company
Interest coverage ratio	A solvency ratio calculated as EBIT divided by interest payments.	Dollar General Corp.’s interest coverage ratio improved from 2018 to 2019 and from 2019 to 2020.
Fixed charge coverage ratio	A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges.	Dollar General Corp.’s fixed charge coverage ratio deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.

Dollar General Corp., debt to equity calculation, comparison to benchmarks

	Jan 31, 2020	Feb 1, 2019	Feb 2, 2018	Feb 3, 2017	Jan 29, 2016	Jan 30, 2015
Selected Financial Data (US$ in thousands)
Current portion of long-term obligations	555	1,950	401,345	500,950	1,379	101,158
Long-term obligations, excluding current portion	2,911,438	2,862,740	2,604,613	2,710,576	2,969,175	2,639,427
Total debt	2,911,993	2,864,690	3,005,958	3,211,526	2,970,554	2,740,585

Shareholders’ equity	6,702,500	6,417,393	6,125,774	5,406,294	5,377,876	5,710,038
Solvency Ratio
Debt to equity¹	0.43	0.45	0.49	0.59	0.55	0.48
Benchmarks
Debt to Equity, Competitors²
Amazon.com Inc.	0.66	0.83	0.97	1.41	0.92	—
Costco Wholesale Corp.	0.42	0.45	0.51	0.62	0.43	0.58
Home Depot Inc.	—	—	18.59	5.45	3.37	1.84
Lowe’s Cos. Inc.	9.79	4.45	2.89	2.44	1.65	1.14
Target Corp.	0.97	1.00	0.99	1.16	0.98	0.91
TJX Cos. Inc.	0.38	0.44	0.43	0.49	0.38	0.38
Walmart Inc.	0.73	0.80	0.60	0.59	0.62	0.62
Debt to Equity, Sector
General Retailers	—	1.02	0.95	1.01	0.84	—
Debt to Equity, Industry
Consumer Services	—	1.24	1.27	1.10	0.99	—

Based on: 10-K (filing date: 2020-03-19), 10-K (filing date: 2019-03-22), 10-K (filing date: 2018-03-23), 10-K (filing date: 2017-03-24), 10-K (filing date: 2016-03-22), 10-K (filing date: 2015-03-20).

¹ 2020 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 2,911,993 ÷ 6,702,500 = 0.43

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Debt to equity ratio	A solvency ratio calculated as total debt divided by total shareholders’ equity.	Dollar General Corp.’s debt to equity ratio improved from 2018 to 2019 and from 2019 to 2020.

Dollar General Corp., debt to equity (including operating lease liability) calculation, comparison to benchmarks

	Jan 31, 2020	Feb 1, 2019	Feb 2, 2018	Feb 3, 2017	Jan 29, 2016	Jan 30, 2015
Selected Financial Data (US$ in thousands)
Current portion of long-term obligations	555	1,950	401,345	500,950	1,379	101,158
Long-term obligations, excluding current portion	2,911,438	2,862,740	2,604,613	2,710,576	2,969,175	2,639,427
Total debt	2,911,993	2,864,690	3,005,958	3,211,526	2,970,554	2,740,585
Current portion of operating lease liabilities	964,805	—	—	—	—	—
Long-term operating lease liabilities, excluding current portion	7,819,683	—	—	—	—	—
Total debt (including operating lease liability)	11,696,481	2,864,690	3,005,958	3,211,526	2,970,554	2,740,585

Shareholders’ equity	6,702,500	6,417,393	6,125,774	5,406,294	5,377,876	5,710,038
Solvency Ratio
Debt to equity (including operating lease liability)¹	1.75	0.45	0.49	0.59	0.55	0.48
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors²
Amazon.com Inc.	1.08	1.25	0.97	1.41	0.92	—
Costco Wholesale Corp.	0.57	0.45	0.51	0.62	0.43	0.58
Home Depot Inc.	—	—	18.59	5.45	3.37	1.84
Lowe’s Cos. Inc.	12.04	4.45	2.89	2.44	1.65	1.14
Target Corp.	1.18	1.19	0.99	1.16	0.98	0.91
TJX Cos. Inc.	1.93	0.44	0.43	0.49	0.38	0.38
Walmart Inc.	0.97	0.80	0.60	0.59	0.62	0.62
Debt to Equity (including Operating Lease Liability), Sector
General Retailers	—	1.18	0.95	1.01	0.84	—
Debt to Equity (including Operating Lease Liability), Industry
Consumer Services	—	1.39	1.27	1.10	0.99	—

Based on: 10-K (filing date: 2020-03-19), 10-K (filing date: 2019-03-22), 10-K (filing date: 2018-03-23), 10-K (filing date: 2017-03-24), 10-K (filing date: 2016-03-22), 10-K (filing date: 2015-03-20).

¹ 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= 11,696,481 ÷ 6,702,500 = 1.75

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Debt to equity ratio (including operating lease liability)	A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity.	Dollar General Corp.’s debt to equity ratio (including operating lease liability) improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

Dollar General Corp., debt to capital calculation, comparison to benchmarks

	Jan 31, 2020	Feb 1, 2019	Feb 2, 2018	Feb 3, 2017	Jan 29, 2016	Jan 30, 2015
Selected Financial Data (US$ in thousands)
Current portion of long-term obligations	555	1,950	401,345	500,950	1,379	101,158
Long-term obligations, excluding current portion	2,911,438	2,862,740	2,604,613	2,710,576	2,969,175	2,639,427
Total debt	2,911,993	2,864,690	3,005,958	3,211,526	2,970,554	2,740,585
Shareholders’ equity	6,702,500	6,417,393	6,125,774	5,406,294	5,377,876	5,710,038
Total capital	9,614,493	9,282,083	9,131,732	8,617,820	8,348,430	8,450,623
Solvency Ratio
Debt to capital¹	0.30	0.31	0.33	0.37	0.36	0.32
Benchmarks
Debt to Capital, Competitors²
Amazon.com Inc.	0.40	0.45	0.49	0.59	0.48	—
Costco Wholesale Corp.	0.29	0.31	0.34	0.38	0.30	0.37
Home Depot Inc.	1.11	1.07	0.95	0.84	0.77	0.65
Lowe’s Cos. Inc.	0.91	0.82	0.74	0.71	0.62	0.53
Target Corp.	0.49	0.50	0.50	0.54	0.50	0.48
TJX Cos. Inc.	0.27	0.31	0.30	0.33	0.27	0.28
Walmart Inc.	0.42	0.44	0.37	0.37	0.38	0.38
Debt to Capital, Sector
General Retailers	—	0.51	0.49	0.50	0.46	—
Debt to Capital, Industry
Consumer Services	—	0.55	0.56	0.52	0.50	—

Based on: 10-K (filing date: 2020-03-19), 10-K (filing date: 2019-03-22), 10-K (filing date: 2018-03-23), 10-K (filing date: 2017-03-24), 10-K (filing date: 2016-03-22), 10-K (filing date: 2015-03-20).

¹ 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 2,911,993 ÷ 9,614,493 = 0.30

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.	Dollar General Corp.’s debt to capital ratio improved from 2018 to 2019 and from 2019 to 2020.

Dollar General Corp., debt to capital (including operating lease liability) calculation, comparison to benchmarks

	Jan 31, 2020	Feb 1, 2019	Feb 2, 2018	Feb 3, 2017	Jan 29, 2016	Jan 30, 2015
Selected Financial Data (US$ in thousands)
Current portion of long-term obligations	555	1,950	401,345	500,950	1,379	101,158
Long-term obligations, excluding current portion	2,911,438	2,862,740	2,604,613	2,710,576	2,969,175	2,639,427
Total debt	2,911,993	2,864,690	3,005,958	3,211,526	2,970,554	2,740,585
Current portion of operating lease liabilities	964,805	—	—	—	—	—
Long-term operating lease liabilities, excluding current portion	7,819,683	—	—	—	—	—
Total debt (including operating lease liability)	11,696,481	2,864,690	3,005,958	3,211,526	2,970,554	2,740,585
Shareholders’ equity	6,702,500	6,417,393	6,125,774	5,406,294	5,377,876	5,710,038
Total capital (including operating lease liability)	18,398,981	9,282,083	9,131,732	8,617,820	8,348,430	8,450,623
Solvency Ratio
Debt to capital (including operating lease liability)¹	0.64	0.31	0.33	0.37	0.36	0.32
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors²
Amazon.com Inc.	0.52	0.56	0.49	0.59	0.48	—
Costco Wholesale Corp.	0.36	0.31	0.34	0.38	0.30	0.37
Home Depot Inc.	1.09	1.07	0.95	0.84	0.77	0.65
Lowe’s Cos. Inc.	0.92	0.82	0.74	0.71	0.62	0.53
Target Corp.	0.54	0.54	0.50	0.54	0.50	0.48
TJX Cos. Inc.	0.66	0.31	0.30	0.33	0.27	0.28
Walmart Inc.	0.49	0.44	0.37	0.37	0.38	0.38
Debt to Capital (including Operating Lease Liability), Sector
General Retailers	—	0.54	0.49	0.50	0.46	—
Debt to Capital (including Operating Lease Liability), Industry
Consumer Services	—	0.58	0.56	0.52	0.50	—

Based on: 10-K (filing date: 2020-03-19), 10-K (filing date: 2019-03-22), 10-K (filing date: 2018-03-23), 10-K (filing date: 2017-03-24), 10-K (filing date: 2016-03-22), 10-K (filing date: 2015-03-20).

¹ 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 11,696,481 ÷ 18,398,981 = 0.64

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.	Dollar General Corp.’s debt to capital ratio (including operating lease liability) improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

Dollar General Corp., debt to assets calculation, comparison to benchmarks

	Jan 31, 2020	Feb 1, 2019	Feb 2, 2018	Feb 3, 2017	Jan 29, 2016	Jan 30, 2015
Selected Financial Data (US$ in thousands)
Current portion of long-term obligations	555	1,950	401,345	500,950	1,379	101,158
Long-term obligations, excluding current portion	2,911,438	2,862,740	2,604,613	2,710,576	2,969,175	2,639,427
Total debt	2,911,993	2,864,690	3,005,958	3,211,526	2,970,554	2,740,585

Total assets	22,825,084	13,204,038	12,516,911	11,672,298	11,257,885	11,224,104
Solvency Ratio
Debt to assets¹	0.13	0.22	0.24	0.28	0.26	0.24
Benchmarks
Debt to Assets, Competitors²
Amazon.com Inc.	0.19	0.23	0.26	0.30	0.21	—
Costco Wholesale Corp.	0.14	0.15	0.16	0.18	0.16	0.18
Home Depot Inc.	0.61	0.66	0.61	0.55	0.50	0.43
Lowe’s Cos. Inc.	0.49	0.47	0.48	0.46	0.40	0.36
Target Corp.	0.27	0.27	0.30	0.34	0.32	0.31
TJX Cos. Inc.	0.09	0.16	0.16	0.17	0.14	0.15
Walmart Inc.	0.23	0.26	0.23	0.23	0.25	0.25
Debt to Assets, Sector
General Retailers	—	0.28	0.28	0.29	0.27	—
Debt to Assets, Industry
Consumer Services	—	0.34	0.37	0.34	0.32	—

Based on: 10-K (filing date: 2020-03-19), 10-K (filing date: 2019-03-22), 10-K (filing date: 2018-03-23), 10-K (filing date: 2017-03-24), 10-K (filing date: 2016-03-22), 10-K (filing date: 2015-03-20).

¹ 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 2,911,993 ÷ 22,825,084 = 0.13

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.	Dollar General Corp.’s debt to assets ratio improved from 2018 to 2019 and from 2019 to 2020.

Dollar General Corp., debt to assets (including operating lease liability) calculation, comparison to benchmarks

	Jan 31, 2020	Feb 1, 2019	Feb 2, 2018	Feb 3, 2017	Jan 29, 2016	Jan 30, 2015
Selected Financial Data (US$ in thousands)
Current portion of long-term obligations	555	1,950	401,345	500,950	1,379	101,158
Long-term obligations, excluding current portion	2,911,438	2,862,740	2,604,613	2,710,576	2,969,175	2,639,427
Total debt	2,911,993	2,864,690	3,005,958	3,211,526	2,970,554	2,740,585
Current portion of operating lease liabilities	964,805	—	—	—	—	—
Long-term operating lease liabilities, excluding current portion	7,819,683	—	—	—	—	—
Total debt (including operating lease liability)	11,696,481	2,864,690	3,005,958	3,211,526	2,970,554	2,740,585

Total assets	22,825,084	13,204,038	12,516,911	11,672,298	11,257,885	11,224,104
Solvency Ratio
Debt to assets (including operating lease liability)¹	0.51	0.22	0.24	0.28	0.26	0.24
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors²
Amazon.com Inc.	0.31	0.34	0.26	0.30	0.21	—
Costco Wholesale Corp.	0.19	0.15	0.16	0.18	0.16	0.18
Home Depot Inc.	0.73	0.66	0.61	0.55	0.50	0.43
Lowe’s Cos. Inc.	0.60	0.47	0.48	0.46	0.40	0.36
Target Corp.	0.33	0.33	0.30	0.34	0.32	0.31
TJX Cos. Inc.	0.47	0.16	0.16	0.17	0.14	0.15
Walmart Inc.	0.31	0.26	0.23	0.23	0.25	0.25
Debt to Assets (including Operating Lease Liability), Sector
General Retailers	—	0.32	0.28	0.29	0.27	—
Debt to Assets (including Operating Lease Liability), Industry
Consumer Services	—	0.39	0.37	0.34	0.32	—

Based on: 10-K (filing date: 2020-03-19), 10-K (filing date: 2019-03-22), 10-K (filing date: 2018-03-23), 10-K (filing date: 2017-03-24), 10-K (filing date: 2016-03-22), 10-K (filing date: 2015-03-20).

¹ 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 11,696,481 ÷ 22,825,084 = 0.51

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.	Dollar General Corp.’s debt to assets ratio (including operating lease liability) improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

Dollar General Corp., financial leverage calculation, comparison to benchmarks

	Jan 31, 2020	Feb 1, 2019	Feb 2, 2018	Feb 3, 2017	Jan 29, 2016	Jan 30, 2015
Selected Financial Data (US$ in thousands)
Total assets	22,825,084	13,204,038	12,516,911	11,672,298	11,257,885	11,224,104
Shareholders’ equity	6,702,500	6,417,393	6,125,774	5,406,294	5,377,876	5,710,038
Solvency Ratio
Financial leverage¹	3.41	2.06	2.04	2.16	2.09	1.97
Benchmarks
Financial Leverage, Competitors²
Amazon.com Inc.	3.44	3.63	3.73	4.74	4.32	—
Costco Wholesale Corp.	3.04	2.98	3.19	3.37	2.75	3.15
Home Depot Inc.	—	—	30.63	9.92	6.74	4.29
Lowe’s Cos. Inc.	20.02	9.47	6.01	5.35	4.08	3.19
Target Corp.	3.62	3.65	3.33	3.42	3.11	2.96
TJX Cos. Inc.	4.06	2.84	2.73	2.86	2.67	2.61
Walmart Inc.	3.17	3.02	2.63	2.56	2.48	2.50
Financial Leverage, Sector
General Retailers	—	3.66	3.36	3.42	3.05	—
Financial Leverage, Industry
Consumer Services	—	3.61	3.48	3.19	3.09	—

Based on: 10-K (filing date: 2020-03-19), 10-K (filing date: 2019-03-22), 10-K (filing date: 2018-03-23), 10-K (filing date: 2017-03-24), 10-K (filing date: 2016-03-22), 10-K (filing date: 2015-03-20).

¹ 2020 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 22,825,084 ÷ 6,702,500 = 3.41

² Click competitor name to see calculations.

Solvency ratio	Description	The company
Financial leverage ratio	A solvency ratio calculated as total assets divided by total shareholders’ equity.	Dollar General Corp.’s financial leverage ratio increased from 2018 to 2019 and from 2019 to 2020.

Dollar General Corp., interest coverage calculation, comparison to benchmarks

	Jan 31, 2020	Feb 1, 2019	Feb 2, 2018	Feb 3, 2017	Jan 29, 2016	Jan 30, 2015
Selected Financial Data (US$ in thousands)
Net income	1,712,555	1,589,472	1,538,960	1,251,133	1,165,080	1,065,345
Add: Income tax expense	489,175	425,944	368,320	714,495	687,944	615,516
Add: Interest expense	100,574	99,871	97,036	97,821	86,944	88,232
Earnings before interest and tax (EBIT)	2,302,304	2,115,287	2,004,316	2,063,449	1,939,968	1,769,093
Solvency Ratio
Interest coverage¹	22.89	21.18	20.66	21.09	22.31	20.05
Benchmarks
Interest Coverage, Competitors²
Amazon.com Inc.	15.69	9.73	8.95	5.48	8.84	—
Costco Wholesale Corp.	34.54	32.77	28.94	31.14	28.21	30.06
Home Depot Inc.	13.25	14.85	13.96	13.85	12.99	13.02
Lowe’s Cos. Inc.	8.83	6.21	9.46	8.92	8.95	9.19
Target Corp.	9.78	8.97	6.47	4.95	9.11	5.14
TJX Cos. Inc.	75.57	65.36	60.98	61.37	61.70	65.10
Walmart Inc.	8.74	5.88	7.49	9.66	9.49	11.08
Interest Coverage, Sector
General Retailers	—	10.03	10.23	10.07	11.18	—
Interest Coverage, Industry
Consumer Services	—	6.64	7.01	8.27	8.92	—

Based on: 10-K (filing date: 2020-03-19), 10-K (filing date: 2019-03-22), 10-K (filing date: 2018-03-23), 10-K (filing date: 2017-03-24), 10-K (filing date: 2016-03-22), 10-K (filing date: 2015-03-20).

¹ 2020 Calculation
Interest coverage = EBIT ÷ Interest expense
= 2,302,304 ÷ 100,574 = 22.89

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.	Dollar General Corp.’s interest coverage ratio improved from 2018 to 2019 and from 2019 to 2020.

Dollar General Corp., fixed charge coverage calculation, comparison to benchmarks

	Jan 31, 2020	Feb 1, 2019	Feb 2, 2018	Feb 3, 2017	Jan 29, 2016	Jan 30, 2015
Selected Financial Data (US$ in thousands)
Net income	1,712,555	1,589,472	1,538,960	1,251,133	1,165,080	1,065,345
Add: Income tax expense	489,175	425,944	368,320	714,495	687,944	615,516
Add: Interest expense	100,574	99,871	97,036	97,821	86,944	88,232
Earnings before interest and tax (EBIT)	2,302,304	2,115,287	2,004,316	2,063,449	1,939,968	1,769,093
Add: Operating lease cost	1,270,000	1,159,085	1,081,516	942,411	856,908	785,202
Earnings before fixed charges and tax	3,572,304	3,274,372	3,085,832	3,005,860	2,796,876	2,554,295

Interest expense	100,574	99,871	97,036	97,821	86,944	88,232
Operating lease cost	1,270,000	1,159,085	1,081,516	942,411	856,908	785,202
Fixed charges	1,370,574	1,258,956	1,178,552	1,040,232	943,852	873,434
Solvency Ratio
Fixed charge coverage¹	2.61	2.60	2.62	2.89	2.96	2.92
Benchmarks
Fixed Charge Coverage, Competitors²
Amazon.com Inc.	4.63	3.65	3.34	2.25	3.01	—
Costco Wholesale Corp.	14.03	12.40	11.48	11.30	10.45	10.59
Home Depot Inc.	8.26	7.80	7.49	7.39	6.99	6.71
Lowe’s Cos. Inc.	5.04	3.68	5.31	5.31	5.29	5.42
Target Corp.	6.48	6.16	5.10	4.29	7.12	4.39
TJX Cos. Inc.	3.43	3.39	3.35	3.51	3.59	3.61
Walmart Inc.	4.82	3.14	3.89	5.13	5.29	5.71
Fixed Charge Coverage, Sector
General Retailers	—	4.19	4.38	4.64	5.12	—
Fixed Charge Coverage, Industry
Consumer Services	—	3.87	3.98	4.49	4.73	—

Based on: 10-K (filing date: 2020-03-19), 10-K (filing date: 2019-03-22), 10-K (filing date: 2018-03-23), 10-K (filing date: 2017-03-24), 10-K (filing date: 2016-03-22), 10-K (filing date: 2015-03-20).

¹ 2020 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 3,572,304 ÷ 1,370,574 = 2.61

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.	Dollar General Corp.’s fixed charge coverage ratio deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020.

Dollar General Corp. (NYSE:DG)

Analysis of Solvency Ratios

Solvency Ratios (Summary)

Debt to Equity

Debt to Equity (including Operating Lease Liability)

Debt to Capital

Debt to Capital (including Operating Lease Liability)

Debt to Assets

Debt to Assets (including Operating Lease Liability)

Financial Leverage

Interest Coverage

Fixed Charge Coverage