Dollar General Corporation (DG)

Debt-to-equity ratio

		Feb 2, 2024	Nov 3, 2023	Aug 4, 2023	May 5, 2023	Feb 3, 2023	Oct 28, 2022	Jul 29, 2022	Apr 29, 2022	Jan 28, 2022	Oct 29, 2021	Jul 30, 2021	Apr 30, 2021	Jan 29, 2021	Oct 30, 2020	Jul 31, 2020	May 1, 2020	Jan 31, 2020	Nov 1, 2019	Aug 2, 2019	May 3, 2019
Long-term debt	US$ in thousands	—	—	—	—	—	5,985,730	4,290,700	3,947,460	4,172,070	—	—	—	—	—	—	3,967,220	2,911,440	—	—	—
Total stockholders’ equity	US$ in thousands	6,749,120	6,451,880	6,297,700	5,935,250	5,541,770	6,093,810	6,188,490	5,961,620	6,261,990	6,189,800	6,137,140	6,249,920	6,661,240	6,985,520	7,356,070	7,209,450	6,702,500	6,648,300	6,749,160	6,572,670
Debt-to-equity ratio		0.00	0.00	0.00	0.00	0.00	0.98	0.69	0.66	0.67	0.00	0.00	0.00	0.00	0.00	0.00	0.55	0.43	0.00	0.00	0.00

February 2, 2024 calculation

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

The debt-to-equity ratio for Dollar General Corporation has shown fluctuations over the past few quarters. From the data provided, it can be observed that the company had no debt relative to its equity for most of the quarters, indicating a conservative capital structure. However, in the quarter ending February 3, 2023, there was a significant increase in the debt-to-equity ratio to 0.98, suggesting a higher level of debt compared to equity.

Subsequently, the ratio decreased to 0.69 in the following quarter and further to 0.66 in the quarter ending April 29, 2022. This reduction may indicate a decrease in debt or an increase in equity during those periods. The ratio remained relatively stable around 0.66 to 0.67 in the next few quarters, suggesting a balanced mix of debt and equity in the company's capital structure.

In the more recent quarters, the debt-to-equity ratio fluctuated, with some quarters showing no debt relative to equity and others at 0.55 or 0.43. It is important to note that a lower debt-to-equity ratio generally indicates a lower level of financial risk as the company is relying more on equity financing rather than debt financing.

Overall, Dollar General Corporation has maintained a relatively conservative debt-to-equity ratio in the periods analyzed, with some fluctuations that may reflect changes in the company's capital structure and financial strategy.