Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
Doing some research...
Over the five-year period 2021–2025 Dollar General’s total assets rose steadily from $25,862.6m to $31,132.7m, an increase of about 20.4%. Total liabilities also increased from $19,201.4m to $23,719.0m (+23.5%), peaking in 2024 before edging down slightly in 2025. Stockholders’ equity fell through 2022–2023 (from $6,661.2m to $5,541.8m) but then recovered in 2024–2025 to $7,413.7m, leaving equity modestly above the 2021 level (+11.3% versus 2021). The equity-to-assets ratio fell from ~25.8% in 2021 to a low of ~19.1% in 2023, then recovered to ~23.8% in 2025. The profile shows steady asset growth (likely driven by inventory, store investments and working capital) with liabilities rising slightly faster overall, which pushed leverage up through 2023 (liabilities/equity rose from ~2.9x to ~4.3x) before partially normalizing to ~3.2x by 2025. The 2022–2023 dip in equity is the most noteworthy fluctuation and could reflect a combination of shareholder distributions (buybacks/dividends), non‑operating charges or margin pressure; the rebound in 2024–25 suggests earnings or capital actions restored capital buffers. For a discount‑retailer like Dollar General—an industry that commonly operates with higher leverage but steady cash flows—the company’s capital structure appears manageable, though the temporary spike in leverage warrants monitoring if margins or cash generation weaken.
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.