Debt to Equity
since 2005
Calculation
Williams-Sonoma Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Long-term debt1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|
| Jan 28, 2024 | 0.00 | = | —) | ÷ | 2,127,861) |
| Jan 29, 2023 | 0.00 | = | —) | ÷ | 1,701,051) |
| Jan 30, 2022 | 0.00 | = | —) | ÷ | 1,664,207) |
| Jan 31, 2021 | 0.18 | = | 299,350) | ÷ | 1,651,185) |
| Feb 2, 2020 | 0.24 | = | 299,818) | ÷ | 1,235,860) |
| Feb 3, 2019 | 0.26 | = | 299,620) | ÷ | 1,155,714) |
| Jan 28, 2018 | 0.25 | = | 299,422) | ÷ | 1,203,566) |
| Jan 29, 2017 | 0.00 | = | —) | ÷ | 1,248,220) |
| Jan 31, 2016 | 0.00 | = | —) | ÷ | 1,198,226) |
| Feb 1, 2015 | 0.00 | = | 1,968) | ÷ | 1,224,706) |
| Feb 2, 2014 | 0.00 | = | 3,753) | ÷ | 1,256,002) |
| Feb 3, 2013 | 0.00 | = | 5,477) | ÷ | 1,309,138) |
| Jan 29, 2012 | 0.01 | = | 7,273) | ÷ | 1,255,262) |
| Jan 30, 2011 | 0.01 | = | 8,672) | ÷ | 1,258,863) |
| Jan 31, 2010 | 0.01 | = | 10,259) | ÷ | 1,211,595) |
| Feb 1, 2009 | 0.02 | = | 24,961) | ÷ | 1,147,984) |
| Feb 3, 2008 | 0.02 | = | 25,972) | ÷ | 1,165,723) |
| Jan 28, 2007 | 0.02 | = | 28,675) | ÷ | 1,151,431) |
| Jan 29, 2006 | 0.03 | = | 33,354) | ÷ | 1,125,318) |
| Jan 30, 2005 | 0.04 | = | 42,589) | ÷ | 957,662) |
Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-02-01), 10-K (reporting date: 2014-02-02), 10-K (reporting date: 2013-02-03), 10-K (reporting date: 2012-01-29), 10-K (reporting date: 2011-01-30), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-02-01), 10-K (reporting date: 2008-02-03), 10-K (reporting date: 2007-01-28), 10-K (reporting date: 2006-01-29), 10-K (reporting date: 2005-01-30).
1 US$ in thousands
The capital structure of the entity from 2005 to 2024 is characterized by two distinct financial phases: a period of aggressive deleveraging followed by a strategic increase in long-term liabilities alongside substantial equity growth.
- Deleveraging Phase (2005–2015)
- A consistent downward trend in long-term debt is observed, falling from US$ 42.59 million in 2005 to US$ 1.97 million by 2015. Simultaneously, stockholders' equity experienced a steady increase, growing from US$ 957.66 million to US$ 1.22 billion. This combination resulted in the debt-to-equity ratio compressing from 0.04 to 0.00, effectively eliminating long-term leverage from the balance sheet during this decade.
- Capital Structure Shift (2018–2021)
- A significant inflection point occurred in 2018 with the introduction of US$ 299.42 million in long-term debt. This abrupt increase shifted the debt-to-equity ratio from near-zero levels to 0.25. Long-term debt remained remarkably stable between 2018 and 2021, fluctuating minimally around the US$ 299 million mark, suggesting a fixed-term financing arrangement.
- Equity Expansion and Ratio Compression (2018–2024)
- From 2018 onward, stockholders' equity demonstrated accelerated growth, rising from US$ 1.20 billion to US$ 2.13 billion by January 2024. While long-term debt remained constant, this expanding equity base exerted downward pressure on the leverage ratio. As a result, the debt-to-equity ratio declined from a peak of 0.26 in 2019 to 0.18 by 2021, indicating an improved solvency position despite the higher absolute level of debt compared to the 2005–2015 period.
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Comparison to Competitors
Williams-Sonoma Inc., debt to equity, long-term trends, comparison to competitors
| Williams-Sonoma Inc. | Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | TJX Cos. Inc. | |
|---|---|---|---|---|---|
| Jan 28, 2024 | 0.00 | 0.18 | 42.25 | — | 0.39 |
| Jan 29, 2023 | 0.00 | 0.29 | 27.65 | — | 0.53 |
| Jan 30, 2022 | 0.00 | 0.46 | — | — | 0.56 |
| Jan 31, 2021 | 0.18 | 0.35 | 11.29 | 15.16 | 1.04 |
| Feb 2, 2020 | 0.24 | 0.34 | — | 9.79 | 0.38 |
| Feb 3, 2019 | 0.26 | 0.38 | — | 4.45 | 0.44 |
| Jan 28, 2018 | 0.25 | 0.54 | 18.59 | 2.89 | 0.43 |
| Jan 29, 2017 | 0.00 | 0.89 | 5.45 | 2.44 | 0.49 |
| Jan 31, 2016 | 0.00 | 0.40 | 3.37 | 1.65 | 0.38 |
| Feb 1, 2015 | 0.00 | 0.62 | 1.84 | 1.14 | 0.38 |
| Feb 2, 2014 | 0.00 | 0.77 | 1.18 | 0.89 | 0.30 |
| Feb 3, 2013 | 0.00 | 0.33 | 0.61 | 0.66 | 0.21 |
| Jan 29, 2012 | 0.01 | 0.38 | 0.60 | 0.46 | 0.25 |
| Jan 30, 2011 | 0.01 | 0.03 | 0.52 | 0.36 | 0.25 |
| Jan 31, 2010 | 0.01 | 0.03 | 0.50 | 0.27 | 0.27 |
| Feb 1, 2009 | 0.02 | 0.02 | 0.64 | 0.34 | 0.36 |
| Feb 3, 2008 | 0.02 | 0.15 | 0.76 | 0.41 | 0.40 |
| Jan 28, 2007 | 0.02 | 1.07 | 0.47 | 0.28 | 0.35 |
| Jan 29, 2006 | 0.03 | 2.89 | 0.15 | 0.25 | 0.43 |
| Jan 30, 2005 | 0.04 | 6.18 | 0.09 | 0.32 | 0.42 |
Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-02-01), 10-K (reporting date: 2014-02-02), 10-K (reporting date: 2013-02-03), 10-K (reporting date: 2012-01-29), 10-K (reporting date: 2011-01-30), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-02-01), 10-K (reporting date: 2008-02-03), 10-K (reporting date: 2007-01-28), 10-K (reporting date: 2006-01-29), 10-K (reporting date: 2005-01-30).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
Williams-Sonoma Inc., debt to equity, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| Williams-Sonoma Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Jan 28, 2024 | 0.00 | 0.49 |
| Jan 29, 2023 | 0.00 | 0.71 |
| Jan 30, 2022 | 0.00 | 0.93 |
| Jan 31, 2021 | 0.18 | 0.77 |
| Feb 2, 2020 | 0.24 | 0.86 |
| Feb 3, 2019 | 0.26 | 1.03 |
| Jan 28, 2018 | 0.25 | 1.24 |
| Jan 29, 2017 | 0.00 | 1.54 |
| Jan 31, 2016 | 0.00 | 1.15 |
| Feb 1, 2015 | 0.00 | 1.04 |
| Feb 2, 2014 | 0.00 | 0.88 |
| Feb 3, 2013 | 0.00 | 0.53 |
| Jan 29, 2012 | 0.01 | 0.49 |
| Jan 30, 2011 | 0.01 | 0.36 |
| Jan 31, 2010 | 0.01 | 0.33 |
| Feb 1, 2009 | 0.02 | 0.43 |
| Feb 3, 2008 | 0.02 | 0.55 |
| Jan 28, 2007 | 0.02 | 0.41 |
| Jan 29, 2006 | 0.03 | 0.22 |
| Jan 30, 2005 | 0.04 | 0.21 |
Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-02-01), 10-K (reporting date: 2014-02-02), 10-K (reporting date: 2013-02-03), 10-K (reporting date: 2012-01-29), 10-K (reporting date: 2011-01-30), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-02-01), 10-K (reporting date: 2008-02-03), 10-K (reporting date: 2007-01-28), 10-K (reporting date: 2006-01-29), 10-K (reporting date: 2005-01-30).
Comparison to Industry (Consumer Discretionary)
Williams-Sonoma Inc., debt to equity, long-term trends, comparison to industry (consumer discretionary)
| Williams-Sonoma Inc. | Consumer Discretionary | |
|---|---|---|
| Jan 28, 2024 | 0.00 | 1.06 |
| Jan 29, 2023 | 0.00 | 1.28 |
| Jan 30, 2022 | 0.00 | 1.44 |
| Jan 31, 2021 | 0.18 | 1.41 |
| Feb 2, 2020 | 0.24 | 2.17 |
| Feb 3, 2019 | 0.26 | 2.60 |
| Jan 28, 2018 | 0.25 | 2.59 |
| Jan 29, 2017 | 0.00 | 2.55 |
| Jan 31, 2016 | 0.00 | 2.21 |
| Feb 1, 2015 | 0.00 | 1.88 |
| Feb 2, 2014 | 0.00 | 1.60 |
| Feb 3, 2013 | 0.00 | 1.25 |
| Jan 29, 2012 | 0.01 | 1.19 |
| Jan 30, 2011 | 0.01 | 1.09 |
| Jan 31, 2010 | 0.01 | 1.26 |
| Feb 1, 2009 | 0.02 | 2.58 |
| Feb 3, 2008 | 0.02 | 4.06 |
| Jan 28, 2007 | 0.02 | 2.62 |
| Jan 29, 2006 | 0.03 | 2.96 |
| Jan 30, 2005 | 0.04 | 2.35 |
Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-02-01), 10-K (reporting date: 2014-02-02), 10-K (reporting date: 2013-02-03), 10-K (reporting date: 2012-01-29), 10-K (reporting date: 2011-01-30), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-02-01), 10-K (reporting date: 2008-02-03), 10-K (reporting date: 2007-01-28), 10-K (reporting date: 2006-01-29), 10-K (reporting date: 2005-01-30).