Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Dollar General Corp., long-term (investment) activity 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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Dollar General Corp. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Dollar General Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Dollar General Corp. total asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Dollar General Corp. equity turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Net Fixed Asset Turnover
Dollar General Corp., net fixed asset turnover 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 sales | 37,844,863) | 34,220,449) | 33,746,839) | 27,753,973) | 25,625,043) | 23,470,967) | |
| Net property and equipment | 5,236,309) | 4,346,127) | 3,899,997) | 3,278,359) | 2,970,806) | 2,701,282) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover1 | 7.23 | 7.87 | 8.65 | 8.47 | 8.63 | 8.69 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||
| Costco Wholesale Corp. | 8.49 | 8.48 | 7.84 | 7.29 | 7.03 | 6.92 | |
| Target Corp. | 3.41 | 3.71 | 3.44 | 2.93 | 2.92 | — | |
| Walmart Inc. | 5.73 | 5.74 | 5.77 | 4.74 | 4.58 | — | |
| Net Fixed Asset Turnover, Sector | |||||||
| Consumer Staples Distribution & Retail | 5.76 | 5.84 | 5.69 | 4.80 | 4.64 | — | |
| Net Fixed Asset Turnover, Industry | |||||||
| Consumer Staples | 5.24 | 5.30 | 5.14 | 4.44 | 4.34 | — | |
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
Net fixed asset turnover = Net sales ÷ Net property and equipment
= 37,844,863 ÷ 5,236,309 = 7.23
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Dollar General Corp. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Dollar General Corp., net fixed asset turnover (including operating lease, right-of-use asset) 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 sales | 37,844,863) | 34,220,449) | 33,746,839) | 27,753,973) | 25,625,043) | 23,470,967) | |
| Net property and equipment | 5,236,309) | 4,346,127) | 3,899,997) | 3,278,359) | 2,970,806) | 2,701,282) | |
| Operating lease assets | 10,670,014) | 10,092,930) | 9,473,330) | 8,796,183) | —) | —) | |
| Net property and equipment (including operating lease, right-of-use asset) | 15,906,323) | 14,439,057) | 13,373,327) | 12,074,542) | 2,970,806) | 2,701,282) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 2.38 | 2.37 | 2.52 | 2.30 | 8.63 | 8.69 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||
| Costco Wholesale Corp. | 7.74 | 7.67 | 7.01 | 6.48 | 7.03 | 6.92 | |
| Target Corp. | 3.15 | 3.40 | 3.17 | 2.70 | 2.71 | — | |
| Walmart Inc. | 5.08 | 5.04 | 5.05 | 4.09 | 4.58 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | |||||||
| Consumer Staples Distribution & Retail | 5.17 | 5.19 | 5.05 | 4.21 | 4.58 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | |||||||
| Consumer Staples | 4.75 | 4.77 | 4.62 | 3.96 | 4.24 | — | |
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
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Net property and equipment (including operating lease, right-of-use asset)
= 37,844,863 ÷ 15,906,323 = 2.38
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Dollar General Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Total Asset Turnover
Dollar General Corp., total asset turnover 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 sales | 37,844,863) | 34,220,449) | 33,746,839) | 27,753,973) | 25,625,043) | 23,470,967) | |
| Total assets | 29,083,367) | 26,327,371) | 25,862,624) | 22,825,084) | 13,204,038) | 12,516,911) | |
| Long-term Activity Ratio | |||||||
| Total asset turnover1 | 1.30 | 1.30 | 1.30 | 1.22 | 1.94 | 1.88 | |
| Benchmarks | |||||||
| Total Asset Turnover, Competitors2 | |||||||
| Costco Wholesale Corp. | 3.45 | 3.47 | 3.24 | 2.94 | 3.29 | 3.39 | |
| Target Corp. | 2.02 | 1.94 | 1.80 | 1.80 | 1.80 | — | |
| Walmart Inc. | 2.49 | 2.32 | 2.20 | 2.20 | 2.33 | — | |
| Total Asset Turnover, Sector | |||||||
| Consumer Staples Distribution & Retail | 2.60 | 2.47 | 2.31 | 2.27 | 2.40 | — | |
| Total Asset Turnover, Industry | |||||||
| Consumer Staples | 1.55 | 1.50 | 1.40 | 1.31 | 1.37 | — | |
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
Total asset turnover = Net sales ÷ Total assets
= 37,844,863 ÷ 29,083,367 = 1.30
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Dollar General Corp. total asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Equity Turnover
Dollar General Corp., equity turnover 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 sales | 37,844,863) | 34,220,449) | 33,746,839) | 27,753,973) | 25,625,043) | 23,470,967) | |
| Shareholders’ equity | 5,541,772) | 6,261,986) | 6,661,238) | 6,702,500) | 6,417,393) | 6,125,774) | |
| Long-term Activity Ratio | |||||||
| Equity turnover1 | 6.83 | 5.46 | 5.07 | 4.14 | 3.99 | 3.83 | |
| Benchmarks | |||||||
| Equity Turnover, Competitors2 | |||||||
| Costco Wholesale Corp. | 9.49 | 10.79 | 10.93 | 8.93 | 9.80 | 10.82 | |
| Target Corp. | 9.58 | 8.16 | 6.40 | 6.52 | 6.59 | — | |
| Walmart Inc. | 7.90 | 6.82 | 6.86 | 6.96 | 7.04 | — | |
| Equity Turnover, Sector | |||||||
| Consumer Staples Distribution & Retail | 8.42 | 7.67 | 7.44 | 7.26 | 7.41 | — | |
| Equity Turnover, Industry | |||||||
| Consumer Staples | 5.38 | 5.11 | 4.84 | 4.60 | 4.48 | — | |
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
Equity turnover = Net sales ÷ Shareholders’ equity
= 37,844,863 ÷ 5,541,772 = 6.83
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Dollar General Corp. equity turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |