Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Dollar General Corp., solvency ratios
Based on: 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Dollar General Corp. debt to equity ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| 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. debt to equity ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Dollar General Corp. debt to capital ratio deteriorated from 2021 to 2022 and 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. | Dollar General Corp. 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. | Dollar General Corp. debt to assets ratio improved from 2021 to 2022 but then deteriorated significantly 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. | Dollar General Corp. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Dollar General Corp. financial leverage ratio increased 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. | Dollar General Corp. interest coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Dollar General Corp. fixed charge coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Debt to Equity
Dollar General Corp., debt to equity calculation, comparison to benchmarks
| Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | Feb 2, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Current portion of long-term obligations | —) | —) | —) | 555) | 1,950) | 401,345) | |
| Long-term obligations, excluding current portion | 7,009,399) | 4,172,068) | 4,130,975) | 2,911,438) | 2,862,740) | 2,604,613) | |
| Total debt | 7,009,399) | 4,172,068) | 4,130,975) | 2,911,993) | 2,864,690) | 3,005,958) | |
| Shareholders’ equity | 5,541,772) | 6,261,986) | 6,661,238) | 6,702,500) | 6,417,393) | 6,125,774) | |
| Solvency Ratio | |||||||
| Debt to equity1 | 1.26 | 0.67 | 0.62 | 0.43 | 0.45 | 0.49 | |
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Costco Wholesale Corp. | 0.31 | 0.40 | 0.49 | 0.45 | 0.48 | 0.54 | |
| Target Corp. | 1.44 | 1.07 | 0.88 | 0.97 | 1.00 | — | |
| Walmart Inc. | 0.58 | 0.51 | 0.60 | 0.73 | 0.80 | — | |
| Debt to Equity, Sector | |||||||
| Consumer Staples Distribution & Retail | 0.61 | 0.55 | 0.62 | 0.71 | 0.77 | — | |
| Debt to Equity, Industry | |||||||
| Consumer Staples | 1.03 | 0.98 | 1.03 | 1.14 | 1.07 | — | |
Based on: 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02).
1 2023 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 7,009,399 ÷ 5,541,772 = 1.26
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. debt to equity ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Debt to Equity (including Operating Lease Liability)
Dollar General Corp., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | Feb 2, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Current portion of long-term obligations | —) | —) | —) | 555) | 1,950) | 401,345) | |
| Long-term obligations, excluding current portion | 7,009,399) | 4,172,068) | 4,130,975) | 2,911,438) | 2,862,740) | 2,604,613) | |
| Total debt | 7,009,399) | 4,172,068) | 4,130,975) | 2,911,993) | 2,864,690) | 3,005,958) | |
| Current portion of operating lease liabilities | 1,288,939) | 1,183,559) | 1,074,079) | 964,805) | —) | —) | |
| Long-term operating lease liabilities, excluding current portion | 9,362,761) | 8,890,709) | 8,385,388) | 7,819,683) | —) | —) | |
| Total debt (including operating lease liability) | 17,661,099) | 14,246,336) | 13,590,442) | 11,696,481) | 2,864,690) | 3,005,958) | |
| Shareholders’ equity | 5,541,772) | 6,261,986) | 6,661,238) | 6,702,500) | 6,417,393) | 6,125,774) | |
| Solvency Ratio | |||||||
| Debt to equity (including operating lease liability)1 | 3.19 | 2.28 | 2.04 | 1.75 | 0.45 | 0.49 | |
| Benchmarks | |||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||
| Costco Wholesale Corp. | 0.42 | 0.53 | 0.65 | 0.61 | 0.48 | 0.54 | |
| Target Corp. | 1.70 | 1.28 | 1.05 | 1.18 | 1.19 | — | |
| Walmart Inc. | 0.77 | 0.69 | 0.78 | 0.97 | 0.80 | — | |
| Debt to Equity (including Operating Lease Liability), Sector | |||||||
| Consumer Staples Distribution & Retail | 0.78 | 0.73 | 0.79 | 0.93 | 0.79 | — | |
| Debt to Equity (including Operating Lease Liability), Industry | |||||||
| Consumer Staples | 1.14 | 1.10 | 1.14 | 1.28 | 1.09 | — | |
Based on: 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02).
1 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= 17,661,099 ÷ 5,541,772 = 3.19
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. debt to equity ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023. |
Debt to Capital
Dollar General Corp., debt to capital calculation, comparison to benchmarks
| Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | Feb 2, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Current portion of long-term obligations | —) | —) | —) | 555) | 1,950) | 401,345) | |
| Long-term obligations, excluding current portion | 7,009,399) | 4,172,068) | 4,130,975) | 2,911,438) | 2,862,740) | 2,604,613) | |
| Total debt | 7,009,399) | 4,172,068) | 4,130,975) | 2,911,993) | 2,864,690) | 3,005,958) | |
| Shareholders’ equity | 5,541,772) | 6,261,986) | 6,661,238) | 6,702,500) | 6,417,393) | 6,125,774) | |
| Total capital | 12,551,171) | 10,434,054) | 10,792,213) | 9,614,493) | 9,282,083) | 9,131,732) | |
| Solvency Ratio | |||||||
| Debt to capital1 | 0.56 | 0.40 | 0.38 | 0.30 | 0.31 | 0.33 | |
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Costco Wholesale Corp. | 0.24 | 0.28 | 0.33 | 0.31 | 0.32 | 0.35 | |
| Target Corp. | 0.59 | 0.52 | 0.47 | 0.49 | 0.50 | — | |
| Walmart Inc. | 0.37 | 0.34 | 0.38 | 0.42 | 0.44 | — | |
| Debt to Capital, Sector | |||||||
| Consumer Staples Distribution & Retail | 0.38 | 0.36 | 0.38 | 0.41 | 0.44 | — | |
| Debt to Capital, Industry | |||||||
| Consumer Staples | 0.51 | 0.50 | 0.51 | 0.53 | 0.52 | — | |
Based on: 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02).
1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 7,009,399 ÷ 12,551,171 = 0.56
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. debt to capital ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Debt to Capital (including Operating Lease Liability)
Dollar General Corp., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | Feb 2, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Current portion of long-term obligations | —) | —) | —) | 555) | 1,950) | 401,345) | |
| Long-term obligations, excluding current portion | 7,009,399) | 4,172,068) | 4,130,975) | 2,911,438) | 2,862,740) | 2,604,613) | |
| Total debt | 7,009,399) | 4,172,068) | 4,130,975) | 2,911,993) | 2,864,690) | 3,005,958) | |
| Current portion of operating lease liabilities | 1,288,939) | 1,183,559) | 1,074,079) | 964,805) | —) | —) | |
| Long-term operating lease liabilities, excluding current portion | 9,362,761) | 8,890,709) | 8,385,388) | 7,819,683) | —) | —) | |
| Total debt (including operating lease liability) | 17,661,099) | 14,246,336) | 13,590,442) | 11,696,481) | 2,864,690) | 3,005,958) | |
| Shareholders’ equity | 5,541,772) | 6,261,986) | 6,661,238) | 6,702,500) | 6,417,393) | 6,125,774) | |
| Total capital (including operating lease liability) | 23,202,871) | 20,508,322) | 20,251,680) | 18,398,981) | 9,282,083) | 9,131,732) | |
| Solvency Ratio | |||||||
| Debt to capital (including operating lease liability)1 | 0.76 | 0.69 | 0.67 | 0.64 | 0.31 | 0.33 | |
| Benchmarks | |||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||
| Costco Wholesale Corp. | 0.30 | 0.35 | 0.39 | 0.38 | 0.32 | 0.35 | |
| Target Corp. | 0.63 | 0.56 | 0.51 | 0.54 | 0.54 | — | |
| Walmart Inc. | 0.43 | 0.41 | 0.44 | 0.49 | 0.44 | — | |
| Debt to Capital (including Operating Lease Liability), Sector | |||||||
| Consumer Staples Distribution & Retail | 0.44 | 0.42 | 0.44 | 0.48 | 0.44 | — | |
| Debt to Capital (including Operating Lease Liability), Industry | |||||||
| Consumer Staples | 0.53 | 0.52 | 0.53 | 0.56 | 0.52 | — | |
Based on: 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02).
1 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 17,661,099 ÷ 23,202,871 = 0.76
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. debt to capital ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023. |
Debt to Assets
Dollar General Corp., debt to assets calculation, comparison to benchmarks
| Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | Feb 2, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Current portion of long-term obligations | —) | —) | —) | 555) | 1,950) | 401,345) | |
| Long-term obligations, excluding current portion | 7,009,399) | 4,172,068) | 4,130,975) | 2,911,438) | 2,862,740) | 2,604,613) | |
| Total debt | 7,009,399) | 4,172,068) | 4,130,975) | 2,911,993) | 2,864,690) | 3,005,958) | |
| Total assets | 29,083,367) | 26,327,371) | 25,862,624) | 22,825,084) | 13,204,038) | 12,516,911) | |
| Solvency Ratio | |||||||
| Debt to assets1 | 0.24 | 0.16 | 0.16 | 0.13 | 0.22 | 0.24 | |
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Costco Wholesale Corp. | 0.11 | 0.13 | 0.14 | 0.15 | 0.16 | 0.17 | |
| Target Corp. | 0.30 | 0.25 | 0.25 | 0.27 | 0.27 | — | |
| Walmart Inc. | 0.18 | 0.17 | 0.19 | 0.23 | 0.26 | — | |
| Debt to Assets, Sector | |||||||
| Consumer Staples Distribution & Retail | 0.19 | 0.18 | 0.19 | 0.22 | 0.25 | — | |
| Debt to Assets, Industry | |||||||
| Consumer Staples | 0.30 | 0.29 | 0.30 | 0.33 | 0.33 | — | |
Based on: 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02).
1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 7,009,399 ÷ 29,083,367 = 0.24
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. debt to assets ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Debt to Assets (including Operating Lease Liability)
Dollar General Corp., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | Feb 2, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Current portion of long-term obligations | —) | —) | —) | 555) | 1,950) | 401,345) | |
| Long-term obligations, excluding current portion | 7,009,399) | 4,172,068) | 4,130,975) | 2,911,438) | 2,862,740) | 2,604,613) | |
| Total debt | 7,009,399) | 4,172,068) | 4,130,975) | 2,911,993) | 2,864,690) | 3,005,958) | |
| Current portion of operating lease liabilities | 1,288,939) | 1,183,559) | 1,074,079) | 964,805) | —) | —) | |
| Long-term operating lease liabilities, excluding current portion | 9,362,761) | 8,890,709) | 8,385,388) | 7,819,683) | —) | —) | |
| Total debt (including operating lease liability) | 17,661,099) | 14,246,336) | 13,590,442) | 11,696,481) | 2,864,690) | 3,005,958) | |
| Total assets | 29,083,367) | 26,327,371) | 25,862,624) | 22,825,084) | 13,204,038) | 12,516,911) | |
| Solvency Ratio | |||||||
| Debt to assets (including operating lease liability)1 | 0.61 | 0.54 | 0.53 | 0.51 | 0.22 | 0.24 | |
| Benchmarks | |||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||
| Costco Wholesale Corp. | 0.15 | 0.17 | 0.19 | 0.20 | 0.16 | 0.17 | |
| Target Corp. | 0.36 | 0.31 | 0.29 | 0.33 | 0.33 | — | |
| Walmart Inc. | 0.24 | 0.23 | 0.25 | 0.31 | 0.26 | — | |
| Debt to Assets (including Operating Lease Liability), Sector | |||||||
| Consumer Staples Distribution & Retail | 0.24 | 0.23 | 0.25 | 0.29 | 0.26 | — | |
| Debt to Assets (including Operating Lease Liability), Industry | |||||||
| Consumer Staples | 0.33 | 0.32 | 0.33 | 0.36 | 0.33 | — | |
Based on: 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02).
1 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 17,661,099 ÷ 29,083,367 = 0.61
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. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023. |
Financial Leverage
Dollar General Corp., financial leverage calculation, comparison to benchmarks
| Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | Feb 2, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Total assets | 29,083,367) | 26,327,371) | 25,862,624) | 22,825,084) | 13,204,038) | 12,516,911) | |
| Shareholders’ equity | 5,541,772) | 6,261,986) | 6,661,238) | 6,702,500) | 6,417,393) | 6,125,774) | |
| Solvency Ratio | |||||||
| Financial leverage1 | 5.25 | 4.20 | 3.88 | 3.41 | 2.06 | 2.04 | |
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Costco Wholesale Corp. | 2.75 | 3.11 | 3.37 | 3.04 | 2.98 | 3.19 | |
| Target Corp. | 4.75 | 4.20 | 3.55 | 3.62 | 3.65 | — | |
| Walmart Inc. | 3.17 | 2.94 | 3.12 | 3.17 | 3.02 | — | |
| Financial Leverage, Sector | |||||||
| Consumer Staples Distribution & Retail | 3.24 | 3.11 | 3.21 | 3.20 | 3.09 | — | |
| Financial Leverage, Industry | |||||||
| Consumer Staples | 3.47 | 3.40 | 3.45 | 3.50 | 3.28 | — | |
Based on: 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02).
1 2023 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 29,083,367 ÷ 5,541,772 = 5.25
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. financial leverage ratio increased from 2021 to 2022 and from 2022 to 2023. |
Interest Coverage
Dollar General Corp., interest coverage calculation, comparison to benchmarks
| Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | Feb 2, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net income | 2,415,989) | 2,399,232) | 2,655,050) | 1,712,555) | 1,589,472) | 1,538,960) | |
| Add: Income tax expense | 700,625) | 663,917) | 749,330) | 489,175) | 425,944) | 368,320) | |
| Add: Interest expense | 211,273) | 157,526) | 150,385) | 100,574) | 99,871) | 97,036) | |
| Earnings before interest and tax (EBIT) | 3,327,887) | 3,220,675) | 3,554,765) | 2,302,304) | 2,115,287) | 2,004,316) | |
| Solvency Ratio | |||||||
| Interest coverage1 | 15.75 | 20.45 | 23.64 | 22.89 | 21.18 | 20.66 | |
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Costco Wholesale Corp. | 54.04 | 50.62 | 40.06 | 34.54 | 32.77 | 28.94 | |
| Target Corp. | 8.15 | 22.16 | 6.68 | 9.78 | 8.97 | — | |
| Walmart Inc. | 9.00 | 10.38 | 9.88 | 8.74 | 5.88 | — | |
| Interest Coverage, Sector | |||||||
| Consumer Staples Distribution & Retail | 11.46 | 14.77 | 10.47 | 10.17 | 7.73 | — | |
| Interest Coverage, Industry | |||||||
| Consumer Staples | 11.88 | 14.21 | 10.01 | 10.46 | 7.90 | — | |
Based on: 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02).
1 2023 Calculation
Interest coverage = EBIT ÷ Interest expense
= 3,327,887 ÷ 211,273 = 15.75
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. interest coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Fixed Charge Coverage
Dollar General Corp., fixed charge coverage calculation, comparison to benchmarks
| Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | Feb 2, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net income | 2,415,989) | 2,399,232) | 2,655,050) | 1,712,555) | 1,589,472) | 1,538,960) | |
| Add: Income tax expense | 700,625) | 663,917) | 749,330) | 489,175) | 425,944) | 368,320) | |
| Add: Interest expense | 211,273) | 157,526) | 150,385) | 100,574) | 99,871) | 97,036) | |
| Earnings before interest and tax (EBIT) | 3,327,887) | 3,220,675) | 3,554,765) | 2,302,304) | 2,115,287) | 2,004,316) | |
| Add: Operating lease cost | 1,610,000) | 1,490,000) | 1,380,000) | 1,270,000) | 1,159,085) | 1,081,516) | |
| Earnings before fixed charges and tax | 4,937,887) | 4,710,675) | 4,934,765) | 3,572,304) | 3,274,372) | 3,085,832) | |
| Interest expense | 211,273) | 157,526) | 150,385) | 100,574) | 99,871) | 97,036) | |
| Operating lease cost | 1,610,000) | 1,490,000) | 1,380,000) | 1,270,000) | 1,159,085) | 1,081,516) | |
| Fixed charges | 1,821,273) | 1,647,526) | 1,530,385) | 1,370,574) | 1,258,956) | 1,178,552) | |
| Solvency Ratio | |||||||
| Fixed charge coverage1 | 2.71 | 2.86 | 3.22 | 2.61 | 2.60 | 2.62 | |
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Costco Wholesale Corp. | 19.10 | 18.23 | 15.30 | 14.03 | 12.40 | 11.48 | |
| Target Corp. | 4.62 | 12.02 | 5.24 | 6.48 | 6.16 | — | |
| Walmart Inc. | 4.84 | 5.38 | 5.16 | 4.82 | 3.14 | — | |
| Fixed Charge Coverage, Sector | |||||||
| Consumer Staples Distribution & Retail | 5.95 | 7.41 | 5.88 | 5.60 | 4.07 | — | |
| Fixed Charge Coverage, Industry | |||||||
| Consumer Staples | 7.71 | 8.59 | 6.77 | 6.80 | 5.01 | — | |
Based on: 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02).
1 2023 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 4,937,887 ÷ 1,821,273 = 2.71
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. fixed charge coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |