Microsoft Excel LibreOffice Calc

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
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 Jan 31, 2015 Nov 1, 2014 Aug 2, 2014 May 3, 2014
Debt Ratios
Debt to equity 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 0.38 0.37 0.38 0.30
Debt to equity (including operating lease liability) 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 0.38 0.37 0.38 0.30
Debt to capital 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 0.28 0.27 0.28 0.23
Debt to capital (including operating lease liability) 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 0.28 0.27 0.28 0.23
Debt to assets 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 0.15 0.14 0.15 0.12
Debt to assets (including operating lease liability) 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 0.15 0.14 0.15 0.12
Financial leverage 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 2.61 2.65 2.56 2.43

Based on: 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), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).

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 Q3 2020 to Q4 2020 but then deteriorated significantly from Q4 2020 to Q1 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 Q3 2020 to Q4 2020 but then deteriorated significantly from Q4 2020 to Q1 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 Q3 2020 to Q4 2020 but then deteriorated significantly from Q4 2020 to Q1 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 Q3 2020 to Q4 2020 but then deteriorated significantly from Q4 2020 to Q1 2021.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. TJX Cos. Inc.’s debt to assets ratio deteriorated from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 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) deteriorated from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 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 Q3 2020 to Q4 2020 but then increased from Q4 2020 to Q1 2021 exceeding Q3 2020 level.

Debt to Equity

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

Microsoft Excel LibreOffice Calc
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 Jan 31, 2015 Nov 1, 2014 Aug 2, 2014 May 3, 2014
Selected Financial Data (US$ in thousands)
Long-term debt, exclusive of current installments 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  1,623,864  1,623,817  1,623,769  1,274,245 
Total debt 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  1,623,864  1,623,817  1,623,769  1,274,245 
 
Shareholders’ equity 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  4,264,230  4,373,808  4,274,652  4,283,494 
Solvency Ratio
Debt to equity1 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 0.38 0.37 0.38 0.30
Benchmarks
Debt to Equity, Competitors2
Amazon.com Inc. 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 0.63 0.75 0.81 0.89
Costco Wholesale Corp. 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 0.58 0.57 0.49 0.41
Dollar General Corp. 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 0.48 0.52 0.59 0.64
Home Depot Inc. 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 1.84 1.65 1.46 1.21
Lowe’s Cos. Inc. 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 1.14 1.06 0.90 0.88
Target Corp. 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 0.91 0.80 0.79 0.78
Walmart Inc. 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 0.62 0.70 0.70 0.76

Based on: 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), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).

1 Q1 2021 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 7,192,413 ÷ 4,739,218 = 1.52

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 Q3 2020 to Q4 2020 but then deteriorated significantly from Q4 2020 to Q1 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
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 Jan 31, 2015 Nov 1, 2014 Aug 2, 2014 May 3, 2014
Selected Financial Data (US$ in thousands)
Long-term debt, exclusive of current installments 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  1,623,864  1,623,817  1,623,769  1,274,245 
Total debt 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  1,623,864  1,623,817  1,623,769  1,274,245 
Current portion of operating lease liabilities 1,399,290  1,411,216  1,412,262  1,353,721  1,343,243  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Long-term operating lease liabilities, excluding current portion 7,914,825  7,816,633  7,822,067  7,742,866  7,621,531  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 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  1,623,864  1,623,817  1,623,769  1,274,245 
 
Shareholders’ equity 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  4,264,230  4,373,808  4,274,652  4,283,494 
Solvency Ratio
Debt to equity (including operating lease liability)1 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 0.38 0.37 0.38 0.30
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Amazon.com Inc. 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 0.63 0.75 0.81 0.89
Costco Wholesale Corp. 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 0.58 0.57 0.49 0.41
Dollar General Corp. 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 0.48 0.52 0.59 0.64
Home Depot Inc. 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 1.84 1.65 1.46 1.21
Lowe’s Cos. Inc. 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 1.14 1.06 0.90 0.88
Target Corp. 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 0.91 0.80 0.79 0.78
Walmart Inc. 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 0.62 0.70 0.70 0.76

Based on: 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), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).

1 Q1 2021 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= 16,506,528 ÷ 4,739,218 = 3.48

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 Q3 2020 to Q4 2020 but then deteriorated significantly from Q4 2020 to Q1 2021.

Debt to Capital

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

Microsoft Excel LibreOffice Calc
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 Jan 31, 2015 Nov 1, 2014 Aug 2, 2014 May 3, 2014
Selected Financial Data (US$ in thousands)
Long-term debt, exclusive of current installments 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  1,623,864  1,623,817  1,623,769  1,274,245 
Total debt 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  1,623,864  1,623,817  1,623,769  1,274,245 
Shareholders’ equity 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  4,264,230  4,373,808  4,274,652  4,283,494 
Total capital 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  5,888,094  5,997,625  5,898,421  5,557,739 
Solvency Ratio
Debt to capital1 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 0.28 0.27 0.28 0.23
Benchmarks
Debt to Capital, Competitors2
Amazon.com Inc. 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 0.39 0.43 0.45 0.47
Costco Wholesale Corp. 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 0.37 0.36 0.33 0.29
Dollar General Corp. 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 0.32 0.34 0.37 0.39
Home Depot Inc. 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 0.65 0.62 0.59 0.55
Lowe’s Cos. Inc. 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 0.53 0.51 0.47 0.47
Target Corp. 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 0.48 0.44 0.44 0.44
Walmart Inc. 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 0.38 0.41 0.41 0.43

Based on: 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), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).

1 Q1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 7,192,413 ÷ 11,931,631 = 0.60

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 Q3 2020 to Q4 2020 but then deteriorated significantly from Q4 2020 to Q1 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
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 Jan 31, 2015 Nov 1, 2014 Aug 2, 2014 May 3, 2014
Selected Financial Data (US$ in thousands)
Long-term debt, exclusive of current installments 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  1,623,864  1,623,817  1,623,769  1,274,245 
Total debt 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  1,623,864  1,623,817  1,623,769  1,274,245 
Current portion of operating lease liabilities 1,399,290  1,411,216  1,412,262  1,353,721  1,343,243  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Long-term operating lease liabilities, excluding current portion 7,914,825  7,816,633  7,822,067  7,742,866  7,621,531  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 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  1,623,864  1,623,817  1,623,769  1,274,245 
Shareholders’ equity 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  4,264,230  4,373,808  4,274,652  4,283,494 
Total capital (including operating lease liability) 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  5,888,094  5,997,625  5,898,421  5,557,739 
Solvency Ratio
Debt to capital (including operating lease liability)1 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 0.28 0.27 0.28 0.23
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Amazon.com Inc. 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 0.39 0.43 0.45 0.47
Costco Wholesale Corp. 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 0.37 0.36 0.33 0.29
Dollar General Corp. 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 0.32 0.34 0.37 0.39
Home Depot Inc. 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 0.65 0.62 0.59 0.55
Lowe’s Cos. Inc. 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 0.53 0.51 0.47 0.47
Target Corp. 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 0.48 0.44 0.44 0.44
Walmart Inc. 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 0.38 0.41 0.41 0.43

Based on: 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), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).

1 Q1 2021 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 16,506,528 ÷ 21,245,746 = 0.78

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 Q3 2020 to Q4 2020 but then deteriorated significantly from Q4 2020 to Q1 2021.

Debt to Assets

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

Microsoft Excel LibreOffice Calc
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 Jan 31, 2015 Nov 1, 2014 Aug 2, 2014 May 3, 2014
Selected Financial Data (US$ in thousands)
Long-term debt, exclusive of current installments 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  1,623,864  1,623,817  1,623,769  1,274,245 
Total debt 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  1,623,864  1,623,817  1,623,769  1,274,245 
 
Total assets 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  11,128,381  11,592,048  10,921,997  10,429,938 
Solvency Ratio
Debt to assets1 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 0.15 0.14 0.15 0.12
Benchmarks
Debt to Assets, Competitors2
Amazon.com Inc. 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 0.13 0.17 0.18 0.19
Costco Wholesale Corp. 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 0.18 0.18 0.15 0.15
Dollar General Corp. 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 0.24 0.25 0.28 0.29
Home Depot Inc. 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 0.43 0.40 0.38 0.35
Lowe’s Cos. Inc. 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 0.36 0.33 0.31 0.30
Target Corp. 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 0.31 0.28 0.29 0.29
Walmart Inc. 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 0.25 0.27 0.27 0.27

Based on: 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), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).

1 Q1 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= 7,192,413 ÷ 25,415,240 = 0.28

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 deteriorated from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 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
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 Jan 31, 2015 Nov 1, 2014 Aug 2, 2014 May 3, 2014
Selected Financial Data (US$ in thousands)
Long-term debt, exclusive of current installments 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  1,623,864  1,623,817  1,623,769  1,274,245 
Total debt 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  1,623,864  1,623,817  1,623,769  1,274,245 
Current portion of operating lease liabilities 1,399,290  1,411,216  1,412,262  1,353,721  1,343,243  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Long-term operating lease liabilities, excluding current portion 7,914,825  7,816,633  7,822,067  7,742,866  7,621,531  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 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  1,623,864  1,623,817  1,623,769  1,274,245 
 
Total assets 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  11,128,381  11,592,048  10,921,997  10,429,938 
Solvency Ratio
Debt to assets (including operating lease liability)1 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 0.15 0.14 0.15 0.12
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Amazon.com Inc. 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 0.13 0.17 0.18 0.19
Costco Wholesale Corp. 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 0.18 0.18 0.15 0.15
Dollar General Corp. 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 0.24 0.25 0.28 0.29
Home Depot Inc. 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 0.43 0.40 0.38 0.35
Lowe’s Cos. Inc. 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 0.36 0.33 0.31 0.30
Target Corp. 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 0.31 0.28 0.29 0.29
Walmart Inc. 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 0.25 0.27 0.27 0.27

Based on: 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), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).

1 Q1 2021 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 16,506,528 ÷ 25,415,240 = 0.65

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) deteriorated from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Financial Leverage

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

Microsoft Excel LibreOffice Calc
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 Jan 31, 2015 Nov 1, 2014 Aug 2, 2014 May 3, 2014
Selected Financial Data (US$ in thousands)
Total assets 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  11,128,381  11,592,048  10,921,997  10,429,938 
Shareholders’ equity 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  4,264,230  4,373,808  4,274,652  4,283,494 
Solvency Ratio
Financial leverage1 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 2.61 2.65 2.56 2.43
Benchmarks
Financial Leverage, Competitors2
Amazon.com Inc. 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 4.89 4.52 4.46 4.61
Costco Wholesale Corp. 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 3.15 3.16 3.29 2.80
Dollar General Corp. 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 1.97 2.04 2.12 2.19
Home Depot Inc. 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 4.29 4.11 3.79 3.51
Lowe’s Cos. Inc. 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 3.19 3.17 2.95 2.98
Target Corp. 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 2.96 2.84 2.71 2.67
Walmart Inc. 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 2.50 2.63 2.62 2.77

Based on: 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), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).

1 Q1 2021 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 25,415,240 ÷ 4,739,218 = 5.36

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 Q3 2020 to Q4 2020 but then increased from Q4 2020 to Q1 2021 exceeding Q3 2020 level.