Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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Over the five-year period (2021–2025) Dillard’s shows steady asset growth from $3,092.5m to $3,531.1m (+$438.6m, ≈+14.2%). Liabilities were relatively flat, rising to a 2022 peak of $1,794.3m then declining to $1,734.9m in 2025 (net change +$83.4m, ≈+5.0%). Stockholders’ equity increased more markedly from $1,441.0m to $1,796.2m (+$355.2m, ≈+24.6%). As a result the company’s leverage eased: liabilities/assets fell from ~53.4% in 2021 to ~49.1% in 2025 while equity/assets rose from ~46.6% to ~50.9%. The pattern—modest, consistent asset expansion with only a small rise in absolute liabilities and stronger equity growth—signals improving solvency and a larger capital cushion, likely reflecting retained earnings or other equity-supporting items rather than debt-driven expansion. The 2022 liability peak (and slight dip in equity ratio that year) may reflect short-term working-capital needs or pandemic-era timing effects common in retail (inventory build, payables, or temporary borrowings). In the context of department-store retail, the balance-sheet trend is healthy: moderate asset growth combined with declining leverage positions Dillard’s to withstand cyclical retail pressures and to fund store investments or shareholder returns without materially increasing financial risk.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.