Dollar General Corporation (DG)

Financial leverage ratio

		Jan 31, 2025	Oct 31, 2024	Jul 31, 2024	Apr 30, 2024	Feb 2, 2024	Jan 31, 2024	Nov 3, 2023	Oct 31, 2023	Aug 4, 2023	Jul 31, 2023	May 5, 2023	Apr 30, 2023	Feb 3, 2023	Jan 31, 2023	Oct 31, 2022	Oct 28, 2022	Jul 31, 2022	Jul 29, 2022	Apr 30, 2022	Apr 29, 2022
Total assets	US$ in thousands	31,132,700	31,460,400	31,813,800	31,009,500	30,795,600	33,742,100	30,624,600	30,624,600	30,395,600	30,395,600	29,803,900	29,803,900	29,083,400	29,083,400	29,007,200	29,007,200	28,239,300	28,239,300	26,956,300	26,956,300
Total stockholders’ equity	US$ in thousands	7,413,710	7,342,580	7,260,240	7,000,180	6,749,120	6,749,120	6,451,880	6,451,880	6,297,700	6,297,700	5,935,250	5,935,250	5,541,770	5,541,770	6,093,810	6,093,810	6,188,490	6,188,490	5,961,620	5,961,620
Financial leverage ratio		4.20	4.28	4.38	4.43	4.56	5.00	4.75	4.75	4.83	4.83	5.02	5.02	5.25	5.25	4.76	4.76	4.56	4.56	4.52	4.52

January 31, 2025 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $31,132,700K ÷ $7,413,710K
= 4.20

The financial leverage ratio of Dollar General Corporation has shown fluctuations over the specified time period. The ratio was relatively stable around 4.5 in April and July of 2022, indicating that the company's reliance on debt to finance its operations was consistent during that period. However, the ratio increased to 5.25 by January 2023, suggesting a higher level of debt compared to equity.

Subsequently, the financial leverage ratio decreased to 4.83 by July 2023 and further declined to 4.43 by April 2024, indicating a reduction in the company's debt relative to equity during those periods. The ratio continued to decrease to 4.20 by January 2025, signaling a more conservative approach towards leverage.

Overall, Dollar General Corporation demonstrated some variability in its financial leverage ratio, with periods of higher and lower leverage. The decreasing trend in the ratio from 2023 to 2025 suggests a potential shift towards a more balanced capital structure with less reliance on debt financing.