Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Dollar General Corp. (NYSE:DG)

Analysis of Solvency Ratios

Beginner level

Solvency Ratios (Summary)

Dollar General Corp., solvency ratios

Microsoft Excel LibreOffice Calc
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.

Debt to Equity

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

Microsoft Excel LibreOffice Calc
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.

Debt to Equity (including Operating Lease Liability)

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

Microsoft Excel LibreOffice Calc
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.

Debt to Capital

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

Microsoft Excel LibreOffice Calc
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.

Debt to Capital (including Operating Lease Liability)

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

Microsoft Excel LibreOffice Calc
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.

Debt to Assets

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

Microsoft Excel LibreOffice Calc
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.

Debt to Assets (including Operating Lease Liability)

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

Microsoft Excel LibreOffice Calc
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.

Financial Leverage

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

Microsoft Excel LibreOffice Calc
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.

Interest Coverage

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

Microsoft Excel LibreOffice Calc
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.

Fixed Charge Coverage

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

Microsoft Excel LibreOffice Calc
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.