Stock Analysis on Net
Stock Analysis on Net

TJX Cos. Inc. (NYSE:TJX)

Analysis of Solvency Ratios
Quarterly Data

Beginner level

Solvency Ratios (Summary)

TJX Cos. Inc., solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 30, 2021 Oct 31, 2020 Aug 1, 2020 May 2, 2020 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018 Feb 3, 2018 Oct 28, 2017 Jul 29, 2017 Apr 29, 2017 Jan 28, 2017 Oct 29, 2016 Jul 30, 2016 Apr 30, 2016 Jan 30, 2016 Oct 31, 2015 Aug 1, 2015 May 2, 2015
Debt Ratios
Debt to equity 1.04 1.11 1.33 1.52 0.38 0.40 0.42 0.44 0.44 0.42 0.43 0.42 0.43 0.48 0.49 0.49 0.49 0.51 0.36 0.36 0.38 0.37 0.38 0.38
Debt to equity (including operating lease liability) 2.66 2.81 3.36 3.48 1.93 2.07 2.14 2.18 0.44 0.42 0.43 0.42 0.43 0.48 0.49 0.49 0.49 0.51 0.36 0.36 0.38 0.37 0.38 0.38
Debt to capital 0.51 0.53 0.57 0.60 0.27 0.29 0.30 0.30 0.31 0.30 0.30 0.30 0.30 0.32 0.33 0.33 0.33 0.34 0.27 0.26 0.27 0.27 0.28 0.27
Debt to capital (including operating lease liability) 0.73 0.74 0.77 0.78 0.66 0.67 0.68 0.69 0.31 0.30 0.30 0.30 0.30 0.32 0.33 0.33 0.33 0.34 0.27 0.26 0.27 0.27 0.28 0.27
Debt to assets 0.20 0.20 0.23 0.28 0.09 0.09 0.10 0.10 0.16 0.15 0.16 0.16 0.16 0.16 0.17 0.17 0.17 0.17 0.14 0.14 0.14 0.14 0.14 0.14
Debt to assets (including operating lease liability) 0.50 0.50 0.59 0.65 0.47 0.47 0.50 0.50 0.16 0.15 0.16 0.16 0.16 0.16 0.17 0.17 0.17 0.17 0.14 0.14 0.14 0.14 0.14 0.14
Financial leverage 5.28 5.67 5.70 5.36 4.06 4.38 4.31 4.38 2.84 2.86 2.70 2.66 2.73 2.99 2.85 2.80 2.86 2.97 2.62 2.58 2.67 2.76 2.65 2.65

Based on: 10-K (filing date: 2021-03-31), 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. TJX Cos. Inc.’s debt to equity ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. TJX Cos. Inc.’s debt to equity ratio (including operating lease liability) improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. TJX Cos. Inc.’s debt to capital ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. TJX Cos. Inc.’s debt to capital ratio (including operating lease liability) improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. TJX Cos. Inc.’s debt to assets ratio improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021.
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. TJX Cos. Inc.’s debt to assets ratio (including operating lease liability) improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. TJX Cos. Inc.’s financial leverage ratio decreased from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Debt to Equity

TJX Cos. Inc., debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 30, 2021 Oct 31, 2020 Aug 1, 2020 May 2, 2020 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018 Feb 3, 2018 Oct 28, 2017 Jul 29, 2017 Apr 29, 2017 Jan 28, 2017 Oct 29, 2016 Jul 30, 2016 Apr 30, 2016 Jan 30, 2016 Oct 31, 2015 Aug 1, 2015 May 2, 2015
Selected Financial Data (US$ in thousands)
Current portion of long-term debt 749,684  749,446  749,209  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Long-term debt, exclusive of current installments 5,332,921  5,447,208  5,445,325  7,192,413  2,236,625  2,235,873  2,235,121  2,234,368  2,233,616  2,232,864  2,232,112  2,231,360  2,230,607  2,229,855  2,229,103  2,228,351  2,227,599  2,226,913  1,615,952  1,615,477  1,624,054  1,624,007  1,623,959  1,623,912 
Total debt 6,082,605  6,196,654  6,194,534  7,192,413  2,236,625  2,235,873  2,235,121  2,234,368  2,233,616  2,232,864  2,232,112  2,231,360  2,230,607  2,229,855  2,229,103  2,228,351  2,227,599  2,226,913  1,615,952  1,615,477  1,624,054  1,624,007  1,623,959  1,623,912 
 
Shareholders’ equity 5,832,684  5,566,756  4,660,569  4,739,218  5,948,212  5,542,532  5,302,612  5,131,895  5,048,606  5,256,873  5,227,073  5,262,408  5,148,309  4,645,608  4,540,804  4,553,523  4,510,599  4,329,811  4,451,356  4,534,969  4,307,075  4,350,461  4,276,067  4,290,290 
Solvency Ratio
Debt to equity1 1.04 1.11 1.33 1.52 0.38 0.40 0.42 0.44 0.44 0.42 0.43 0.42 0.43 0.48 0.49 0.49 0.49 0.51 0.36 0.36 0.38 0.37 0.38 0.38
Benchmarks
Debt to Equity, Competitors2
Amazon.com Inc. 0.58 0.66 0.73 0.83 0.78 0.83 0.90 0.93 0.99 0.57 0.63 0.70 0.78 0.90 1.04 0.38 0.40 0.45 0.46 0.50 0.56
Costco Wholesale Corp. 0.49 0.51 0.42 0.54 0.34 0.43 0.45 0.45 0.47 0.49 0.51 0.54 0.56 0.60 0.62 0.40 0.41 0.43 0.43 0.44 0.45 0.56
Dollar General Corp. 0.62 0.59 0.56 0.55 0.43 0.42 0.38 0.42 0.45 0.46 0.44 0.46 0.49 0.54 0.54 0.55 0.59 0.59 0.56 0.56 0.55 0.58 0.53 0.50
Home Depot Inc. 11.29 23.01 19.53 12.69 15.29 18.59 10.06 7.03 5.79 5.45 4.07 3.15 3.31 3.37 2.74 2.24 1.83
Lowe’s Cos. Inc. 15.16 5.35 5.01 12.71 9.79 7.26 6.65 5.42 4.45 2.89 2.74 2.76 2.89 2.79 2.91 2.90 2.44 2.30 2.29 2.14 1.65 1.50 1.31 1.20
Target Corp. 0.88 0.95 1.14 1.28 0.97 1.01 0.97 1.12 1.00 1.05 1.00 1.02 0.99 1.13 1.10 1.16 1.16 1.16 1.10 1.13 0.98 0.96 0.91 0.90
Walmart Inc. 0.60 0.62 0.69 0.85 0.73 0.82 0.81 0.85 0.80 0.85 0.76 0.61 0.60 0.66 0.62 0.63 0.59 0.64 0.62 0.67 0.62 0.66 0.62 0.66

Based on: 10-K (filing date: 2021-03-31), 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29).

1 Q4 2021 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 6,082,605 ÷ 5,832,684 = 1.04

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. TJX Cos. Inc.’s debt to equity ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Debt to Equity (including Operating Lease Liability)

TJX Cos. Inc., debt to equity (including operating lease liability) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 30, 2021 Oct 31, 2020 Aug 1, 2020 May 2, 2020 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018 Feb 3, 2018 Oct 28, 2017 Jul 29, 2017 Apr 29, 2017 Jan 28, 2017 Oct 29, 2016 Jul 30, 2016 Apr 30, 2016 Jan 30, 2016 Oct 31, 2015 Aug 1, 2015 May 2, 2015
Selected Financial Data (US$ in thousands)
Current portion of long-term debt 749,684  749,446  749,209  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Long-term debt, exclusive of current installments 5,332,921  5,447,208  5,445,325  7,192,413  2,236,625  2,235,873  2,235,121  2,234,368  2,233,616  2,232,864  2,232,112  2,231,360  2,230,607  2,229,855  2,229,103  2,228,351  2,227,599  2,226,913  1,615,952  1,615,477  1,624,054  1,624,007  1,623,959  1,623,912 
Total debt 6,082,605  6,196,654  6,194,534  7,192,413  2,236,625  2,235,873  2,235,121  2,234,368  2,233,616  2,232,864  2,232,112  2,231,360  2,230,607  2,229,855  2,229,103  2,228,351  2,227,599  2,226,913  1,615,952  1,615,477  1,624,054  1,624,007  1,623,959  1,623,912 
Current portion of operating lease liabilities 1,677,605  1,650,154  1,591,076  1,399,290  1,411,216  1,412,262  1,353,721  1,343,243  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Long-term operating lease liabilities, exclusive of current portion 7,743,216  7,795,838  7,875,234  7,914,825  7,816,633  7,822,067  7,742,866  7,621,531  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 15,503,426  15,642,646  15,660,844  16,506,528  11,464,474  11,470,202  11,331,708  11,199,142  2,233,616  2,232,864  2,232,112  2,231,360  2,230,607  2,229,855  2,229,103  2,228,351  2,227,599  2,226,913  1,615,952  1,615,477  1,624,054  1,624,007  1,623,959  1,623,912 
 
Shareholders’ equity 5,832,684  5,566,756  4,660,569  4,739,218  5,948,212  5,542,532  5,302,612  5,131,895  5,048,606  5,256,873  5,227,073  5,262,408  5,148,309  4,645,608  4,540,804  4,553,523  4,510,599  4,329,811  4,451,356  4,534,969  4,307,075  4,350,461  4,276,067  4,290,290 
Solvency Ratio
Debt to equity (including operating lease liability)1 2.66 2.81 3.36 3.48 1.93 2.07 2.14 2.18 0.44 0.42 0.43 0.42 0.43 0.48 0.49 0.49 0.49 0.51 0.36 0.36 0.38 0.37 0.38 0.38
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Amazon.com Inc. 0.98 1.08 1.16 1.23 1.20 1.25 1.32 1.35 1.43 0.57 0.63 0.70 0.78 0.90 1.04 0.38 0.40 0.45 0.46 0.50 0.56
Costco Wholesale Corp. 0.66 0.69 0.56 0.69 0.48 0.58 0.45 0.45 0.47 0.49 0.51 0.54 0.56 0.60 0.62 0.40 0.41 0.43 0.43 0.44 0.45 0.56
Dollar General Corp. 2.04 1.93 1.80 1.79 1.75 1.71 1.63 1.65 0.45 0.46 0.44 0.46 0.49 0.54 0.54 0.55 0.59 0.59 0.56 0.56 0.55 0.58 0.53 0.50
Home Depot Inc. 13.16 26.74 19.53 12.69 15.29 18.59 10.06 7.03 5.79 5.45 4.07 3.15 3.31 3.37 2.74 2.24 1.83
Lowe’s Cos. Inc. 18.24 6.44 6.01 15.28 12.04 9.07 8.37 6.83 4.45 2.89 2.74 2.76 2.89 2.79 2.91 2.90 2.44 2.30 2.29 2.14 1.65 1.50 1.31 1.20
Target Corp. 1.03 1.11 1.31 1.48 1.16 1.20 1.15 1.30 1.18 1.24 1.18 1.20 0.99 1.13 1.10 1.16 1.16 1.16 1.10 1.13 0.98 0.96 0.91 0.90
Walmart Inc. 0.78 0.84 0.92 1.11 0.97 1.06 1.06 1.11 0.80 0.85 0.76 0.61 0.60 0.66 0.62 0.63 0.59 0.64 0.62 0.67 0.62 0.66 0.62 0.66

Based on: 10-K (filing date: 2021-03-31), 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29).

1 Q4 2021 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= 15,503,426 ÷ 5,832,684 = 2.66

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. TJX Cos. Inc.’s debt to equity ratio (including operating lease liability) improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Debt to Capital

TJX Cos. Inc., debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 30, 2021 Oct 31, 2020 Aug 1, 2020 May 2, 2020 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018 Feb 3, 2018 Oct 28, 2017 Jul 29, 2017 Apr 29, 2017 Jan 28, 2017 Oct 29, 2016 Jul 30, 2016 Apr 30, 2016 Jan 30, 2016 Oct 31, 2015 Aug 1, 2015 May 2, 2015
Selected Financial Data (US$ in thousands)
Current portion of long-term debt 749,684  749,446  749,209  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Long-term debt, exclusive of current installments 5,332,921  5,447,208  5,445,325  7,192,413  2,236,625  2,235,873  2,235,121  2,234,368  2,233,616  2,232,864  2,232,112  2,231,360  2,230,607  2,229,855  2,229,103  2,228,351  2,227,599  2,226,913  1,615,952  1,615,477  1,624,054  1,624,007  1,623,959  1,623,912 
Total debt 6,082,605  6,196,654  6,194,534  7,192,413  2,236,625  2,235,873  2,235,121  2,234,368  2,233,616  2,232,864  2,232,112  2,231,360  2,230,607  2,229,855  2,229,103  2,228,351  2,227,599  2,226,913  1,615,952  1,615,477  1,624,054  1,624,007  1,623,959  1,623,912 
Shareholders’ equity 5,832,684  5,566,756  4,660,569  4,739,218  5,948,212  5,542,532  5,302,612  5,131,895  5,048,606  5,256,873  5,227,073  5,262,408  5,148,309  4,645,608  4,540,804  4,553,523  4,510,599  4,329,811  4,451,356  4,534,969  4,307,075  4,350,461  4,276,067  4,290,290 
Total capital 11,915,289  11,763,410  10,855,103  11,931,631  8,184,837  7,778,405  7,537,733  7,366,263  7,282,222  7,489,737  7,459,185  7,493,768  7,378,916  6,875,463  6,769,907  6,781,874  6,738,198  6,556,724  6,067,308  6,150,446  5,931,129  5,974,468  5,900,026  5,914,202 
Solvency Ratio
Debt to capital1 0.51 0.53 0.57 0.60 0.27 0.29 0.30 0.30 0.31 0.30 0.30 0.30 0.30 0.32 0.33 0.33 0.33 0.34 0.27 0.26 0.27 0.27 0.28 0.27
Benchmarks
Debt to Capital, Competitors2
Amazon.com Inc. 0.37 0.40 0.42 0.45 0.44 0.45 0.47 0.48 0.50 0.36 0.39 0.41 0.44 0.47 0.51 0.27 0.29 0.31 0.32 0.33 0.36
Costco Wholesale Corp. 0.33 0.34 0.29 0.35 0.25 0.30 0.31 0.31 0.32 0.33 0.34 0.35 0.36 0.37 0.38 0.29 0.29 0.30 0.30 0.31 0.31 0.36
Dollar General Corp. 0.38 0.37 0.36 0.35 0.30 0.29 0.28 0.29 0.31 0.31 0.30 0.31 0.33 0.35 0.35 0.35 0.37 0.37 0.36 0.36 0.36 0.37 0.35 0.34
Home Depot Inc. 0.92 0.96 1.01 1.11 1.11 1.04 1.04 1.08 1.07 0.95 0.93 0.94 0.95 0.91 0.88 0.85 0.84 0.80 0.76 0.77 0.77 0.73 0.69 0.65
Lowe’s Cos. Inc. 0.94 0.84 0.83 0.93 0.91 0.88 0.87 0.84 0.82 0.74 0.73 0.73 0.74 0.74 0.74 0.74 0.71 0.70 0.70 0.68 0.62 0.60 0.57 0.55
Target Corp. 0.47 0.49 0.53 0.56 0.49 0.50 0.49 0.53 0.50 0.51 0.50 0.51 0.50 0.53 0.52 0.54 0.54 0.54 0.52 0.53 0.50 0.49 0.48 0.47
Walmart Inc. 0.38 0.38 0.41 0.46 0.42 0.45 0.45 0.46 0.44 0.46 0.43 0.38 0.37 0.40 0.38 0.39 0.37 0.39 0.38 0.40 0.38 0.40 0.38 0.40

Based on: 10-K (filing date: 2021-03-31), 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29).

1 Q4 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 6,082,605 ÷ 11,915,289 = 0.51

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. TJX Cos. Inc.’s debt to capital ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Debt to Capital (including Operating Lease Liability)

TJX Cos. Inc., debt to capital (including operating lease liability) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 30, 2021 Oct 31, 2020 Aug 1, 2020 May 2, 2020 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018 Feb 3, 2018 Oct 28, 2017 Jul 29, 2017 Apr 29, 2017 Jan 28, 2017 Oct 29, 2016 Jul 30, 2016 Apr 30, 2016 Jan 30, 2016 Oct 31, 2015 Aug 1, 2015 May 2, 2015
Selected Financial Data (US$ in thousands)
Current portion of long-term debt 749,684  749,446  749,209  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Long-term debt, exclusive of current installments 5,332,921  5,447,208  5,445,325  7,192,413  2,236,625  2,235,873  2,235,121  2,234,368  2,233,616  2,232,864  2,232,112  2,231,360  2,230,607  2,229,855  2,229,103  2,228,351  2,227,599  2,226,913  1,615,952  1,615,477  1,624,054  1,624,007  1,623,959  1,623,912 
Total debt 6,082,605  6,196,654  6,194,534  7,192,413  2,236,625  2,235,873  2,235,121  2,234,368  2,233,616  2,232,864  2,232,112  2,231,360  2,230,607  2,229,855  2,229,103  2,228,351  2,227,599  2,226,913  1,615,952  1,615,477  1,624,054  1,624,007  1,623,959  1,623,912 
Current portion of operating lease liabilities 1,677,605  1,650,154  1,591,076  1,399,290  1,411,216  1,412,262  1,353,721  1,343,243  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Long-term operating lease liabilities, exclusive of current portion 7,743,216  7,795,838  7,875,234  7,914,825  7,816,633  7,822,067  7,742,866  7,621,531  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 15,503,426  15,642,646  15,660,844  16,506,528  11,464,474  11,470,202  11,331,708  11,199,142  2,233,616  2,232,864  2,232,112  2,231,360  2,230,607  2,229,855  2,229,103  2,228,351  2,227,599  2,226,913  1,615,952  1,615,477  1,624,054  1,624,007  1,623,959  1,623,912 
Shareholders’ equity 5,832,684  5,566,756  4,660,569  4,739,218  5,948,212  5,542,532  5,302,612  5,131,895  5,048,606  5,256,873  5,227,073  5,262,408  5,148,309  4,645,608  4,540,804  4,553,523  4,510,599  4,329,811  4,451,356  4,534,969  4,307,075  4,350,461  4,276,067  4,290,290 
Total capital (including operating lease liability) 21,336,110  21,209,402  20,321,413  21,245,746  17,412,686  17,012,734  16,634,320  16,331,037  7,282,222  7,489,737  7,459,185  7,493,768  7,378,916  6,875,463  6,769,907  6,781,874  6,738,198  6,556,724  6,067,308  6,150,446  5,931,129  5,974,468  5,900,026  5,914,202 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.73 0.74 0.77 0.78 0.66 0.67 0.68 0.69 0.31 0.30 0.30 0.30 0.30 0.32 0.33 0.33 0.33 0.34 0.27 0.26 0.27 0.27 0.28 0.27
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Amazon.com Inc. 0.49 0.52 0.54 0.55 0.54 0.56 0.57 0.57 0.59 0.36 0.39 0.41 0.44 0.47 0.51 0.27 0.29 0.31 0.32 0.33 0.36
Costco Wholesale Corp. 0.40 0.41 0.36 0.41 0.33 0.37 0.31 0.31 0.32 0.33 0.34 0.35 0.36 0.37 0.38 0.29 0.29 0.30 0.30 0.31 0.31 0.36
Dollar General Corp. 0.67 0.66 0.64 0.64 0.64 0.63 0.62 0.62 0.31 0.31 0.30 0.31 0.33 0.35 0.35 0.35 0.37 0.37 0.36 0.36 0.36 0.37 0.35 0.34
Home Depot Inc. 0.93 0.96 1.01 1.09 1.09 1.03 1.03 1.07 1.07 0.95 0.93 0.94 0.95 0.91 0.88 0.85 0.84 0.80 0.76 0.77 0.77 0.73 0.69 0.65
Lowe’s Cos. Inc. 0.95 0.87 0.86 0.94 0.92 0.90 0.89 0.87 0.82 0.74 0.73 0.73 0.74 0.74 0.74 0.74 0.71 0.70 0.70 0.68 0.62 0.60 0.57 0.55
Target Corp. 0.51 0.53 0.57 0.60 0.54 0.55 0.54 0.57 0.54 0.55 0.54 0.55 0.50 0.53 0.52 0.54 0.54 0.54 0.52 0.53 0.50 0.49 0.48 0.47
Walmart Inc. 0.44 0.46 0.48 0.53 0.49 0.51 0.52 0.53 0.44 0.46 0.43 0.38 0.37 0.40 0.38 0.39 0.37 0.39 0.38 0.40 0.38 0.40 0.38 0.40

Based on: 10-K (filing date: 2021-03-31), 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29).

1 Q4 2021 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 15,503,426 ÷ 21,336,110 = 0.73

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. TJX Cos. Inc.’s debt to capital ratio (including operating lease liability) improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Debt to Assets

TJX Cos. Inc., debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 30, 2021 Oct 31, 2020 Aug 1, 2020 May 2, 2020 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018 Feb 3, 2018 Oct 28, 2017 Jul 29, 2017 Apr 29, 2017 Jan 28, 2017 Oct 29, 2016 Jul 30, 2016 Apr 30, 2016 Jan 30, 2016 Oct 31, 2015 Aug 1, 2015 May 2, 2015
Selected Financial Data (US$ in thousands)
Current portion of long-term debt 749,684  749,446  749,209  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Long-term debt, exclusive of current installments 5,332,921  5,447,208  5,445,325  7,192,413  2,236,625  2,235,873  2,235,121  2,234,368  2,233,616  2,232,864  2,232,112  2,231,360  2,230,607  2,229,855  2,229,103  2,228,351  2,227,599  2,226,913  1,615,952  1,615,477  1,624,054  1,624,007  1,623,959  1,623,912 
Total debt 6,082,605  6,196,654  6,194,534  7,192,413  2,236,625  2,235,873  2,235,121  2,234,368  2,233,616  2,232,864  2,232,112  2,231,360  2,230,607  2,229,855  2,229,103  2,228,351  2,227,599  2,226,913  1,615,952  1,615,477  1,624,054  1,624,007  1,623,959  1,623,912 
 
Total assets 30,813,555  31,565,500  26,568,402  25,415,240  24,145,003  24,288,704  22,854,979  22,489,064  14,326,029  15,025,242  14,111,428  14,007,124  14,058,015  13,877,695  12,935,615  12,763,481  12,883,808  12,866,836  11,670,653  11,704,722  11,499,482  11,992,433  11,341,042  11,365,946 
Solvency Ratio
Debt to assets1 0.20 0.20 0.23 0.28 0.09 0.09 0.10 0.10 0.16 0.15 0.16 0.16 0.16 0.16 0.17 0.17 0.17 0.17 0.14 0.14 0.14 0.14 0.14 0.14
Benchmarks
Debt to Assets, Competitors2
Amazon.com Inc. 0.19 0.19 0.22 0.24 0.23 0.23 0.25 0.26 0.27 0.15 0.17 0.18 0.20 0.19 0.22 0.10 0.11 0.10 0.12 0.13 0.14
Costco Wholesale Corp. 0.14 0.13 0.14 0.18 0.11 0.13 0.15 0.15 0.15 0.15 0.16 0.17 0.17 0.17 0.18 0.11 0.14 0.14 0.16 0.15 0.15 0.17
Dollar General Corp. 0.16 0.16 0.16 0.16 0.13 0.12 0.12 0.13 0.22 0.22 0.21 0.23 0.24 0.25 0.25 0.26 0.28 0.27 0.26 0.26 0.26 0.28 0.26 0.25
Home Depot Inc. 0.53 0.53 0.55 0.61 0.61 0.56 0.55 0.55 0.66 0.57 0.55 0.55 0.61 0.57 0.54 0.51 0.55 0.51 0.47 0.47 0.50 0.47 0.44 0.40
Lowe’s Cos. Inc. 0.47 0.43 0.42 0.48 0.49 0.45 0.43 0.41 0.47 0.42 0.43 0.41 0.48 0.44 0.44 0.43 0.46 0.43 0.43 0.41 0.40 0.37 0.35 0.33
Target Corp. 0.25 0.25 0.30 0.32 0.27 0.27 0.28 0.31 0.27 0.27 0.28 0.29 0.30 0.31 0.33 0.34 0.34 0.33 0.34 0.36 0.32 0.31 0.32 0.32
Walmart Inc. 0.19 0.20 0.22 0.25 0.23 0.24 0.24 0.25 0.26 0.27 0.26 0.23 0.23 0.24 0.24 0.23 0.23 0.24 0.24 0.25 0.25 0.26 0.25 0.25

Based on: 10-K (filing date: 2021-03-31), 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29).

1 Q4 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= 6,082,605 ÷ 30,813,555 = 0.20

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. TJX Cos. Inc.’s debt to assets ratio improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021.

Debt to Assets (including Operating Lease Liability)

TJX Cos. Inc., debt to assets (including operating lease liability) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 30, 2021 Oct 31, 2020 Aug 1, 2020 May 2, 2020 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018 Feb 3, 2018 Oct 28, 2017 Jul 29, 2017 Apr 29, 2017 Jan 28, 2017 Oct 29, 2016 Jul 30, 2016 Apr 30, 2016 Jan 30, 2016 Oct 31, 2015 Aug 1, 2015 May 2, 2015
Selected Financial Data (US$ in thousands)
Current portion of long-term debt 749,684  749,446  749,209  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Long-term debt, exclusive of current installments 5,332,921  5,447,208  5,445,325  7,192,413  2,236,625  2,235,873  2,235,121  2,234,368  2,233,616  2,232,864  2,232,112  2,231,360  2,230,607  2,229,855  2,229,103  2,228,351  2,227,599  2,226,913  1,615,952  1,615,477  1,624,054  1,624,007  1,623,959  1,623,912 
Total debt 6,082,605  6,196,654  6,194,534  7,192,413  2,236,625  2,235,873  2,235,121  2,234,368  2,233,616  2,232,864  2,232,112  2,231,360  2,230,607  2,229,855  2,229,103  2,228,351  2,227,599  2,226,913  1,615,952  1,615,477  1,624,054  1,624,007  1,623,959  1,623,912 
Current portion of operating lease liabilities 1,677,605  1,650,154  1,591,076  1,399,290  1,411,216  1,412,262  1,353,721  1,343,243  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Long-term operating lease liabilities, exclusive of current portion 7,743,216  7,795,838  7,875,234  7,914,825  7,816,633  7,822,067  7,742,866  7,621,531  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 15,503,426  15,642,646  15,660,844  16,506,528  11,464,474  11,470,202  11,331,708  11,199,142  2,233,616  2,232,864  2,232,112  2,231,360  2,230,607  2,229,855  2,229,103  2,228,351  2,227,599  2,226,913  1,615,952  1,615,477  1,624,054  1,624,007  1,623,959  1,623,912 
 
Total assets 30,813,555  31,565,500  26,568,402  25,415,240  24,145,003  24,288,704  22,854,979  22,489,064  14,326,029  15,025,242  14,111,428  14,007,124  14,058,015  13,877,695  12,935,615  12,763,481  12,883,808  12,866,836  11,670,653  11,704,722  11,499,482  11,992,433  11,341,042  11,365,946 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.50 0.50 0.59 0.65 0.47 0.47 0.50 0.50 0.16 0.15 0.16 0.16 0.16 0.16 0.17 0.17 0.17 0.17 0.14 0.14 0.14 0.14 0.14 0.14
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Amazon.com Inc. 0.31 0.31 0.34 0.35 0.35 0.34 0.37 0.37 0.39 0.15 0.17 0.18 0.20 0.19 0.22 0.10 0.11 0.10 0.12 0.13 0.14
Costco Wholesale Corp. 0.19 0.17 0.18 0.22 0.16 0.18 0.15 0.15 0.15 0.15 0.16 0.17 0.17 0.17 0.18 0.11 0.14 0.14 0.16 0.15 0.15 0.17
Dollar General Corp. 0.53 0.51 0.51 0.52 0.51 0.51 0.50 0.51 0.22 0.22 0.21 0.23 0.24 0.25 0.25 0.26 0.28 0.27 0.26 0.26 0.26 0.28 0.26 0.25
Home Depot Inc. 0.62 0.61 0.64 0.71 0.73 0.67 0.66 0.66 0.66 0.57 0.55 0.55 0.61 0.57 0.54 0.51 0.55 0.51 0.47 0.47 0.50 0.47 0.44 0.40
Lowe’s Cos. Inc. 0.56 0.52 0.51 0.57 0.60 0.56 0.54 0.51 0.47 0.42 0.43 0.41 0.48 0.44 0.44 0.43 0.46 0.43 0.43 0.41 0.40 0.37 0.35 0.33
Target Corp. 0.29 0.29 0.34 0.37 0.32 0.32 0.33 0.36 0.32 0.31 0.33 0.34 0.30 0.31 0.33 0.34 0.34 0.33 0.34 0.36 0.32 0.31 0.32 0.32
Walmart Inc. 0.25 0.27 0.29 0.32 0.31 0.32 0.32 0.32 0.26 0.27 0.26 0.23 0.23 0.24 0.24 0.23 0.23 0.24 0.24 0.25 0.25 0.26 0.25 0.25

Based on: 10-K (filing date: 2021-03-31), 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29).

1 Q4 2021 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 15,503,426 ÷ 30,813,555 = 0.50

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. TJX Cos. Inc.’s debt to assets ratio (including operating lease liability) improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021.

Financial Leverage

TJX Cos. Inc., financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 30, 2021 Oct 31, 2020 Aug 1, 2020 May 2, 2020 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018 Feb 3, 2018 Oct 28, 2017 Jul 29, 2017 Apr 29, 2017 Jan 28, 2017 Oct 29, 2016 Jul 30, 2016 Apr 30, 2016 Jan 30, 2016 Oct 31, 2015 Aug 1, 2015 May 2, 2015
Selected Financial Data (US$ in thousands)
Total assets 30,813,555  31,565,500  26,568,402  25,415,240  24,145,003  24,288,704  22,854,979  22,489,064  14,326,029  15,025,242  14,111,428  14,007,124  14,058,015  13,877,695  12,935,615  12,763,481  12,883,808  12,866,836  11,670,653  11,704,722  11,499,482  11,992,433  11,341,042  11,365,946 
Shareholders’ equity 5,832,684  5,566,756  4,660,569  4,739,218  5,948,212  5,542,532  5,302,612  5,131,895  5,048,606  5,256,873  5,227,073  5,262,408  5,148,309  4,645,608  4,540,804  4,553,523  4,510,599  4,329,811  4,451,356  4,534,969  4,307,075  4,350,461  4,276,067  4,290,290 
Solvency Ratio
Financial leverage1 5.28 5.67 5.70 5.36 4.06 4.38 4.31 4.38 2.84 2.86 2.70 2.66 2.73 2.99 2.85 2.80 2.86 2.97 2.62 2.58 2.67 2.76 2.65 2.65
Benchmarks
Financial Leverage, Competitors2
Amazon.com Inc. 3.13 3.44 3.41 3.50 3.39 3.63 3.52 3.61 3.68 3.73 3.67 3.83 4.02 4.74 4.67 3.78 3.74 4.32 3.99 3.93 4.14
Costco Wholesale Corp. 3.51 4.05 3.04 3.08 2.94 3.24 2.98 3.02 3.09 3.33 3.19 3.26 3.29 3.55 3.37 3.60 2.86 3.05 2.75 2.94 2.94 3.27
Dollar General Corp. 3.88 3.74 3.51 3.45 3.41 3.37 3.25 3.24 2.06 2.06 2.03 2.00 2.04 2.15 2.13 2.13 2.16 2.22 2.15 2.10 2.09 2.11 2.07 2.03
Home Depot Inc. 21.39 43.60 34.24 23.01 27.65 30.63 17.70 12.93 11.34 9.92 7.92 6.65 7.04 6.74 5.79 5.07 4.62
Lowe’s Cos. Inc. 32.52 12.49 11.88 26.71 20.02 16.18 15.41 13.36 9.47 6.81 6.42 6.66 6.01 6.41 6.62 6.80 5.35 5.36 5.28 5.15 4.08 4.02 3.77 3.63
Target Corp. 3.55 3.80 3.82 4.01 3.62 3.79 3.51 3.65 3.65 3.93 3.58 3.49 3.33 3.66 3.37 3.38 3.42 3.49 3.22 3.18 3.11 3.15 2.90 2.85
Walmart Inc. 3.12 3.08 3.15 3.41 3.17 3.35 3.34 3.44 3.02 3.15 2.89 2.71 2.63 2.75 2.64 2.71 2.56 2.66 2.59 2.64 2.48 2.58 2.52 2.62

Based on: 10-K (filing date: 2021-03-31), 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29).

1 Q4 2021 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 30,813,555 ÷ 5,832,684 = 5.28

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. TJX Cos. Inc.’s financial leverage ratio decreased from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.