Stock Analysis on Net

TJX Cos. Inc. (NYSE:TJX)

$24.99

Debt to Equity
since 2005

Microsoft Excel

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Calculation

TJX Cos. Inc., debt to equity, long-term trends, calculation

Microsoft Excel

Based on: 10-K (reporting date: 2025-02-01), 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-26), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).

1 US$ in millions


Total Debt
The total debt exhibited a generally increasing trend over the period analyzed, starting at 700 million USD and gradually rising with some fluctuations. Notably, there was a significant peak around the fiscal year ending January 30, 2021, reaching 6083 million USD, which marked the highest debt level recorded. Following that peak, total debt decreased substantially in the subsequent years, settling around 2866 million USD by February 1, 2025.
Shareholders’ Equity
Shareholders’ equity demonstrated a consistent upward trajectory throughout the period. Beginning at 1653 million USD, equity increased steadily with minor fluctuations, reaching 8393 million USD by February 1, 2025. This indicates sustained growth in the company’s net assets over the years.
Debt to Equity Ratio
The debt to equity ratio started below 0.5, fluctuating moderately through the initial years, with values generally oscillating between 0.21 and 0.49. A notable anomaly occurred in the fiscal year ending January 30, 2021, when the ratio spiked sharply to 1.04, correlating with the debt peak observed at the same time. After this peak, the ratio declined significantly, falling to 0.34 by February 1, 2025. This pattern suggests a temporary increase in leverage followed by a reduction to more conservative levels.
Overall Analysis
The company experienced growing equity alongside cycles of increasing and then decreasing debt levels. The spike in total debt and the associated debt to equity ratio in early 2021 may indicate a period of heightened financial leverage, potentially for strategic investments or other financial considerations. Afterward, both metrics normalized, reflecting a rebalancing of the capital structure towards lower leverage. The steady increase in shareholders’ equity throughout the timeframe points to ongoing growth in the company’s retained earnings or capital base, strengthening its financial position overall.

Comparison to Competitors


Comparison to Sector (Consumer Discretionary Distribution & Retail)

TJX Cos. Inc., debt to equity, long-term trends, comparison to sector (consumer discretionary distribution & retail)

Microsoft Excel

Based on: 10-K (reporting date: 2025-02-01), 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-26), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).


Comparison to Industry (Consumer Discretionary)