Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
Doing some research...
Over 2021–2024 the company’s total assets rose from $81.3bn to a peak of $96.6bn in 2023 and then dropped back to about $81.0bn in 2024 — leaving assets roughly flat versus 2021. Total liabilities increased steadily from $57.1bn in 2021 to $68.9bn in 2024 (about a 20% rise), with the largest year-over-year increase occurring in 2022–2023. As a result, the balance-sheet leverage (liabilities/assets) moved from roughly 70% in 2021–2023 to about 85% in 2024, indicating a material increase in financial risk and reliance on debt funding by 2024. Stockholders’ equity tells a more concerning story: equity rose modestly to $25.3bn in 2022, then plunged to $20.0bn in 2023 and to $10.4bn in 2024 — a decline of roughly 55% from 2021 to 2024. That sharp fall in equity (and the jump in leverage) could reflect large non-operating charges or impairments, sizeable share repurchases/dividend distributions, debt-funded balance-sheet actions, or adverse operating performance — all plausible in a low-margin, high-competition retail pharmacy sector facing reimbursement and margin pressure. Two caveats: (1) the provided numbers do not cleanly satisfy the accounting identity (assets − liabilities ≠ equity in these rows), so there may be classification items (minority interest, preferred equity, OCI, or data errors) missing from the dataset; and (2) 2025 shows zeroes (no data). I recommend reviewing the company’s notes/footnotes or audited statements for 2022–2024 to identify impairments, restructuring, financing transactions, and any reclassifications that explain the equity decline and reconcile the apparent data inconsistency.
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.