Dollar General Corporation (DG)

Debt-to-assets ratio

		Feb 2, 2024	Feb 3, 2023	Jan 28, 2022	Jan 29, 2021	Jan 31, 2020
Long-term debt	US$ in thousands	—	—	4,172,070	—	2,911,440
Total assets	US$ in thousands	30,795,600	29,083,400	26,327,400	25,862,600	22,825,100
Debt-to-assets ratio		0.00	0.00	0.16	0.00	0.13

February 2, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $30,795,600K
= 0.00

The debt-to-assets ratio of Dollar General Corporation has shown consistency in recent years, with a ratio of 0.00 for the fiscal years ending in 2024 and 2023. This indicates a situation where the company is primarily financing its assets through equity rather than debt.

However, a notable increase in the debt-to-assets ratio to 0.16 in the fiscal year ending in 2022 suggests that Dollar General Corporation took on more debt in relation to its total assets during that period. This could be due to various reasons such as funding expansion projects, acquisitions, or other strategic initiatives.

The decrease to a ratio of 0.00 in the fiscal year ending in 2021 followed by a slight increase to 0.13 in 2020 indicates fluctuations in the company's debt utilization relative to its assets. Overall, maintaining a low debt-to-assets ratio signifies a lower financial risk for Dollar General Corporation as it indicates a lower reliance on debt financing to support its operations and growth.