Dollar General Corporation (DG)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	6,749,120	5,541,770	6,261,990	6,661,240	6,702,500
Debt-to-capital ratio		0.00	0.00	0.40	0.00	0.30

February 2, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $6,749,120K)
= 0.00

The debt-to-capital ratio of Dollar General Corporation has shown fluctuations over the past five fiscal years. In January 2022, the ratio was at 40%, indicating that 40% of the company's capital structure was funded by debt. This was a significant increase from the previous year's figure of 30%.

However, in the most recent data available as of February 2024, the debt-to-capital ratio has dropped to 0%, suggesting that the company's debt levels relative to its total capital have decreased or potentially been paid off entirely. It is worth noting that having a lower debt-to-capital ratio indicates a less leveraged capital structure and could imply lower financial risk for the company.

Overall, the trend in Dollar General Corporation's debt-to-capital ratio indicates some variability in the company's capital structure over the years, with a notable decrease in debt financing in the most recent period.