Analysis of Short-term (Operating) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Dollar General Corp., short-term (operating) activity ratios
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Dollar General Corp. inventory turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Dollar General Corp. payables turnover ratio increased from 2022 to 2023 and from 2023 to 2024. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Dollar General Corp. working capital turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | |
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Dollar General Corp. number of days of payables outstanding decreased from 2022 to 2023 and from 2023 to 2024. |
Inventory Turnover
Dollar General Corp., inventory turnover calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Cost of goods sold | 26,972,585) | 26,024,765) | 23,407,443) | 23,027,977) | 19,264,912) | 17,821,173) | |
| Merchandise inventories | 6,994,266) | 6,760,733) | 5,614,325) | 5,247,477) | 4,676,848) | 4,097,004) | |
| Short-term Activity Ratio | |||||||
| Inventory turnover1 | 3.86 | 3.85 | 4.17 | 4.39 | 4.12 | 4.35 | |
| Benchmarks | |||||||
| Inventory Turnover, Competitors2 | |||||||
| Costco Wholesale Corp. | 11.92 | 12.77 | 11.13 | 12.01 | 11.84 | 11.66 | |
| Target Corp. | 6.54 | 6.09 | 5.39 | 6.21 | 6.10 | 5.61 | |
| Walmart Inc. | 8.93 | 8.20 | 7.59 | 9.35 | 8.88 | 8.70 | |
| Inventory Turnover, Sector | |||||||
| Consumer Staples Distribution & Retail | — | 8.39 | 7.74 | 9.06 | 8.72 | 8.51 | |
| Inventory Turnover, Industry | |||||||
| Consumer Staples | — | 7.41 | 6.96 | 7.97 | 7.50 | 7.42 | |
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
1 2024 Calculation
Inventory turnover = Cost of goods sold ÷ Merchandise inventories
= 26,972,585 ÷ 6,994,266 = 3.86
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Dollar General Corp. inventory turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Receivables Turnover
Dollar General Corp., receivables turnover calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net sales | 38,691,609) | 37,844,863) | 34,220,449) | 33,746,839) | 27,753,973) | 25,625,043) | |
| Accounts receivable | —) | —) | —) | —) | —) | —) | |
| Short-term Activity Ratio | |||||||
| Receivables turnover1 | — | — | — | — | — | — | |
| Benchmarks | |||||||
| Receivables Turnover, Competitors2 | |||||||
| Costco Wholesale Corp. | 91.74 | 104.03 | 99.39 | 106.52 | 105.30 | 97.30 | |
| Target Corp. | 118.75 | 92.03 | 125.28 | 146.43 | 154.88 | 117.77 | |
| Walmart Inc. | 73.06 | 76.37 | 68.57 | 85.21 | 82.74 | 81.22 | |
| Receivables Turnover, Sector | |||||||
| Consumer Staples Distribution & Retail | — | 86.86 | 81.84 | 97.59 | 94.58 | 89.91 | |
| Receivables Turnover, Industry | |||||||
| Consumer Staples | — | 36.63 | 35.12 | 38.75 | 37.54 | 34.71 | |
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
1 2024 Calculation
Receivables turnover = Net sales ÷ Accounts receivable
= 38,691,609 ÷ 0 = —
2 Click competitor name to see calculations.
Payables Turnover
Dollar General Corp., payables turnover calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Cost of goods sold | 26,972,585) | 26,024,765) | 23,407,443) | 23,027,977) | 19,264,912) | 17,821,173) | |
| Accounts payable | 3,587,374) | 3,552,991) | 3,738,604) | 3,614,089) | 2,860,682) | 2,385,469) | |
| Short-term Activity Ratio | |||||||
| Payables turnover1 | 7.52 | 7.32 | 6.26 | 6.37 | 6.73 | 7.47 | |
| Benchmarks | |||||||
| Payables Turnover, Competitors2 | |||||||
| Costco Wholesale Corp. | 11.45 | 12.16 | 11.17 | 10.49 | 10.23 | 11.38 | |
| Target Corp. | 6.43 | 6.10 | 4.84 | 5.15 | 5.53 | 5.46 | |
| Walmart Inc. | 8.63 | 8.63 | 7.76 | 8.55 | 8.40 | 8.19 | |
| Payables Turnover, Sector | |||||||
| Consumer Staples Distribution & Retail | — | 8.89 | 7.87 | 8.31 | 8.30 | 8.31 | |
| Payables Turnover, Industry | |||||||
| Consumer Staples | — | 7.27 | 6.61 | 6.91 | 7.01 | 7.11 | |
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
1 2024 Calculation
Payables turnover = Cost of goods sold ÷ Accounts payable
= 26,972,585 ÷ 3,587,374 = 7.52
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Dollar General Corp. payables turnover ratio increased from 2022 to 2023 and from 2023 to 2024. |
Working Capital Turnover
Dollar General Corp., working capital turnover calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Current assets | 8,010,724) | 7,581,009) | 6,303,843) | 6,914,219) | 5,177,868) | 4,663,020) | |
| Less: Current liabilities | 6,725,701) | 5,887,768) | 5,979,357) | 5,710,783) | 4,543,560) | 3,015,857) | |
| Working capital | 1,285,023) | 1,693,241) | 324,486) | 1,203,436) | 634,308) | 1,647,163) | |
| Net sales | 38,691,609) | 37,844,863) | 34,220,449) | 33,746,839) | 27,753,973) | 25,625,043) | |
| Short-term Activity Ratio | |||||||
| Working capital turnover1 | 30.11 | 22.35 | 105.46 | 28.04 | 43.75 | 15.56 | |
| Benchmarks | |||||||
| Working Capital Turnover, Competitors2 | |||||||
| Costco Wholesale Corp. | — | 103.53 | 319.10 | 3,000.81 | 49.82 | 602.22 | |
| Target Corp. | — | — | — | 146.43 | — | — | |
| Walmart Inc. | — | — | — | — | — | — | |
| Working Capital Turnover, Sector | |||||||
| Consumer Staples Distribution & Retail | — | — | — | — | — | — | |
| Working Capital Turnover, Industry | |||||||
| Consumer Staples | — | — | — | — | — | — | |
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
1 2024 Calculation
Working capital turnover = Net sales ÷ Working capital
= 38,691,609 ÷ 1,285,023 = 30.11
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Dollar General Corp. working capital turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Average Inventory Processing Period
Dollar General Corp., average inventory processing period calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||
| Inventory turnover | 3.86 | 3.85 | 4.17 | 4.39 | 4.12 | 4.35 | |
| Short-term Activity Ratio (no. days) | |||||||
| Average inventory processing period1 | 95 | 95 | 88 | 83 | 89 | 84 | |
| Benchmarks (no. days) | |||||||
| Average Inventory Processing Period, Competitors2 | |||||||
| Costco Wholesale Corp. | 31 | 29 | 33 | 30 | 31 | 31 | |
| Target Corp. | 56 | 60 | 68 | 59 | 60 | 65 | |
| Walmart Inc. | 41 | 45 | 48 | 39 | 41 | 42 | |
| Average Inventory Processing Period, Sector | |||||||
| Consumer Staples Distribution & Retail | — | 43 | 47 | 40 | 42 | 43 | |
| Average Inventory Processing Period, Industry | |||||||
| Consumer Staples | — | 49 | 52 | 46 | 49 | 49 | |
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
1 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 3.86 = 95
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. |
Average Receivable Collection Period
Dollar General Corp., average receivable collection period calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||
| Receivables turnover | — | — | — | — | — | — | |
| Short-term Activity Ratio (no. days) | |||||||
| Average receivable collection period1 | — | — | — | — | — | — | |
| Benchmarks (no. days) | |||||||
| Average Receivable Collection Period, Competitors2 | |||||||
| Costco Wholesale Corp. | 4 | 4 | 4 | 3 | 3 | 4 | |
| Target Corp. | 3 | 4 | 3 | 2 | 2 | 3 | |
| Walmart Inc. | 5 | 5 | 5 | 4 | 4 | 4 | |
| Average Receivable Collection Period, Sector | |||||||
| Consumer Staples Distribution & Retail | — | 4 | 4 | 4 | 4 | 4 | |
| Average Receivable Collection Period, Industry | |||||||
| Consumer Staples | — | 10 | 10 | 9 | 10 | 11 | |
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
1 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ — = —
2 Click competitor name to see calculations.
Operating Cycle
Dollar General Corp., operating cycle calculation, comparison to benchmarks
No. days
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||
| Average inventory processing period | 95 | 95 | 88 | 83 | 89 | 84 | |
| Average receivable collection period | — | — | — | — | — | — | |
| Short-term Activity Ratio | |||||||
| Operating cycle1 | — | — | — | — | — | — | |
| Benchmarks | |||||||
| Operating Cycle, Competitors2 | |||||||
| Costco Wholesale Corp. | 35 | 33 | 37 | 33 | 34 | 35 | |
| Target Corp. | 59 | 64 | 71 | 61 | 62 | 68 | |
| Walmart Inc. | 46 | 50 | 53 | 43 | 45 | 46 | |
| Operating Cycle, Sector | |||||||
| Consumer Staples Distribution & Retail | — | 47 | 51 | 44 | 46 | 47 | |
| Operating Cycle, Industry | |||||||
| Consumer Staples | — | 59 | 62 | 55 | 59 | 60 | |
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
1 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 95 + — = —
2 Click competitor name to see calculations.
Average Payables Payment Period
Dollar General Corp., average payables payment period calculation, comparison to benchmarks
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||
| Payables turnover | 7.52 | 7.32 | 6.26 | 6.37 | 6.73 | 7.47 | |
| Short-term Activity Ratio (no. days) | |||||||
| Average payables payment period1 | 49 | 50 | 58 | 57 | 54 | 49 | |
| Benchmarks (no. days) | |||||||
| Average Payables Payment Period, Competitors2 | |||||||
| Costco Wholesale Corp. | 32 | 30 | 33 | 35 | 36 | 32 | |
| Target Corp. | 57 | 60 | 75 | 71 | 66 | 67 | |
| Walmart Inc. | 42 | 42 | 47 | 43 | 43 | 45 | |
| Average Payables Payment Period, Sector | |||||||
| Consumer Staples Distribution & Retail | — | 41 | 46 | 44 | 44 | 44 | |
| Average Payables Payment Period, Industry | |||||||
| Consumer Staples | — | 50 | 55 | 53 | 52 | 51 | |
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
1 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 7.52 = 49
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Dollar General Corp. number of days of payables outstanding decreased from 2022 to 2023 and from 2023 to 2024. |
Cash Conversion Cycle
Dollar General Corp., cash conversion cycle calculation, comparison to benchmarks
No. days
| Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||
| Average inventory processing period | 95 | 95 | 88 | 83 | 89 | 84 | |
| Average receivable collection period | — | — | — | — | — | — | |
| Average payables payment period | 49 | 50 | 58 | 57 | 54 | 49 | |
| Short-term Activity Ratio | |||||||
| Cash conversion cycle1 | — | — | — | — | — | — | |
| Benchmarks | |||||||
| Cash Conversion Cycle, Competitors2 | |||||||
| Costco Wholesale Corp. | 3 | 3 | 4 | -2 | -2 | 3 | |
| Target Corp. | 2 | 4 | -4 | -10 | -4 | 1 | |
| Walmart Inc. | 4 | 8 | 6 | 0 | 2 | 1 | |
| Cash Conversion Cycle, Sector | |||||||
| Consumer Staples Distribution & Retail | — | 6 | 5 | 0 | 2 | 3 | |
| Cash Conversion Cycle, Industry | |||||||
| Consumer Staples | — | 9 | 7 | 2 | 7 | 9 | |
Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).
1 2024 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 95 + — – 49 = —
2 Click competitor name to see calculations.