Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
TJX Cos. Inc., solvency ratios
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | TJX Cos. Inc. debt to equity ratio improved from 2022 to 2023 and from 2023 to 2024. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | TJX Cos. Inc. debt to equity ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | TJX Cos. Inc. debt to capital ratio improved from 2022 to 2023 and from 2023 to 2024. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | TJX Cos. Inc. debt to capital ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | TJX Cos. Inc. debt to assets ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | TJX Cos. Inc. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | TJX Cos. Inc. financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | TJX Cos. Inc. interest coverage ratio improved from 2022 to 2023 and from 2023 to 2024. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | TJX Cos. Inc. fixed charge coverage ratio improved from 2022 to 2023 and from 2023 to 2024. |
Debt to Equity
TJX Cos. Inc., debt to equity calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt | —) | 500) | —) | 750) | —) | —) | |
| Long-term debt, excluding current portion | 2,862) | 2,859) | 3,355) | 5,333) | 2,237) | 2,234) | |
| Total debt | 2,862) | 3,359) | 3,355) | 6,083) | 2,237) | 2,234) | |
| Shareholders’ equity | 7,302) | 6,364) | 6,003) | 5,833) | 5,948) | 5,049) | |
| Solvency Ratio | |||||||
| Debt to equity1 | 0.39 | 0.53 | 0.56 | 1.04 | 0.38 | 0.44 | |
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Amazon.com Inc. | — | 0.39 | 0.59 | 0.54 | 0.66 | 0.83 | |
| Home Depot Inc. | 42.25 | 27.65 | — | 11.29 | — | — | |
| Lowe’s Cos. Inc. | — | — | — | 15.16 | 9.79 | 4.45 | |
| Debt to Equity, Sector | |||||||
| Consumer Discretionary Distribution & Retail | — | 0.82 | 1.06 | 0.93 | 1.17 | 1.44 | |
| Debt to Equity, Industry | |||||||
| Consumer Discretionary | — | 1.37 | 1.54 | 1.52 | 2.37 | 2.78 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 2,862 ÷ 7,302 = 0.39
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | TJX Cos. Inc. debt to equity ratio improved from 2022 to 2023 and from 2023 to 2024. |
Debt to Equity (including Operating Lease Liability)
TJX Cos. Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt | —) | 500) | —) | 750) | —) | —) | |
| Long-term debt, excluding current portion | 2,862) | 2,859) | 3,355) | 5,333) | 2,237) | 2,234) | |
| Total debt | 2,862) | 3,359) | 3,355) | 6,083) | 2,237) | 2,234) | |
| Current portion of operating lease liabilities | 1,620) | 1,610) | 1,577) | 1,678) | 1,411) | —) | |
| Long-term operating lease liabilities, excluding current portion | 8,060) | 7,775) | 7,576) | 7,743) | 7,817) | —) | |
| Total debt (including operating lease liability) | 12,542) | 12,744) | 12,507) | 15,503) | 11,464) | 2,234) | |
| Shareholders’ equity | 7,302) | 6,364) | 6,003) | 5,833) | 5,948) | 5,049) | |
| Solvency Ratio | |||||||
| Debt to equity (including operating lease liability)1 | 1.72 | 2.00 | 2.08 | 2.66 | 1.93 | 0.44 | |
| Benchmarks | |||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||
| Amazon.com Inc. | — | 0.77 | 1.06 | 0.96 | 1.08 | 1.25 | |
| Home Depot Inc. | 50.04 | 32.24 | — | 13.16 | — | — | |
| Lowe’s Cos. Inc. | — | — | — | 18.24 | 12.04 | 4.45 | |
| Debt to Equity (including Operating Lease Liability), Sector | |||||||
| Consumer Discretionary Distribution & Retail | — | 1.31 | 1.67 | 1.46 | 1.76 | 1.82 | |
| Debt to Equity (including Operating Lease Liability), Industry | |||||||
| Consumer Discretionary | — | 1.72 | 1.94 | 1.90 | 2.84 | 3.08 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= 12,542 ÷ 7,302 = 1.72
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | TJX Cos. Inc. debt to equity ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024. |
Debt to Capital
TJX Cos. Inc., debt to capital calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt | —) | 500) | —) | 750) | —) | —) | |
| Long-term debt, excluding current portion | 2,862) | 2,859) | 3,355) | 5,333) | 2,237) | 2,234) | |
| Total debt | 2,862) | 3,359) | 3,355) | 6,083) | 2,237) | 2,234) | |
| Shareholders’ equity | 7,302) | 6,364) | 6,003) | 5,833) | 5,948) | 5,049) | |
| Total capital | 10,164) | 9,723) | 9,358) | 11,915) | 8,185) | 7,282) | |
| Solvency Ratio | |||||||
| Debt to capital1 | 0.28 | 0.35 | 0.36 | 0.51 | 0.27 | 0.31 | |
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Amazon.com Inc. | — | 0.28 | 0.37 | 0.35 | 0.40 | 0.45 | |
| Home Depot Inc. | 0.98 | 0.97 | 1.04 | 0.92 | 1.11 | 1.07 | |
| Lowe’s Cos. Inc. | 1.72 | 1.72 | 1.24 | 0.94 | 0.91 | 0.82 | |
| Debt to Capital, Sector | |||||||
| Consumer Discretionary Distribution & Retail | — | 0.45 | 0.51 | 0.48 | 0.54 | 0.59 | |
| Debt to Capital, Industry | |||||||
| Consumer Discretionary | — | 0.58 | 0.61 | 0.60 | 0.70 | 0.74 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 2,862 ÷ 10,164 = 0.28
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | TJX Cos. Inc. debt to capital ratio improved from 2022 to 2023 and from 2023 to 2024. |
Debt to Capital (including Operating Lease Liability)
TJX Cos. Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt | —) | 500) | —) | 750) | —) | —) | |
| Long-term debt, excluding current portion | 2,862) | 2,859) | 3,355) | 5,333) | 2,237) | 2,234) | |
| Total debt | 2,862) | 3,359) | 3,355) | 6,083) | 2,237) | 2,234) | |
| Current portion of operating lease liabilities | 1,620) | 1,610) | 1,577) | 1,678) | 1,411) | —) | |
| Long-term operating lease liabilities, excluding current portion | 8,060) | 7,775) | 7,576) | 7,743) | 7,817) | —) | |
| Total debt (including operating lease liability) | 12,542) | 12,744) | 12,507) | 15,503) | 11,464) | 2,234) | |
| Shareholders’ equity | 7,302) | 6,364) | 6,003) | 5,833) | 5,948) | 5,049) | |
| Total capital (including operating lease liability) | 19,844) | 19,108) | 18,510) | 21,336) | 17,413) | 7,282) | |
| Solvency Ratio | |||||||
| Debt to capital (including operating lease liability)1 | 0.63 | 0.67 | 0.68 | 0.73 | 0.66 | 0.31 | |
| Benchmarks | |||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||
| Amazon.com Inc. | — | 0.43 | 0.51 | 0.49 | 0.52 | 0.56 | |
| Home Depot Inc. | 0.98 | 0.97 | 1.04 | 0.93 | 1.09 | 1.07 | |
| Lowe’s Cos. Inc. | 1.60 | 1.60 | 1.20 | 0.95 | 0.92 | 0.82 | |
| Debt to Capital (including Operating Lease Liability), Sector | |||||||
| Consumer Discretionary Distribution & Retail | — | 0.57 | 0.63 | 0.59 | 0.64 | 0.65 | |
| Debt to Capital (including Operating Lease Liability), Industry | |||||||
| Consumer Discretionary | — | 0.63 | 0.66 | 0.65 | 0.74 | 0.76 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 12,542 ÷ 19,844 = 0.63
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | TJX Cos. Inc. debt to capital ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024. |
Debt to Assets
TJX Cos. Inc., debt to assets calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt | —) | 500) | —) | 750) | —) | —) | |
| Long-term debt, excluding current portion | 2,862) | 2,859) | 3,355) | 5,333) | 2,237) | 2,234) | |
| Total debt | 2,862) | 3,359) | 3,355) | 6,083) | 2,237) | 2,234) | |
| Total assets | 29,747) | 28,349) | 28,461) | 30,814) | 24,145) | 14,326) | |
| Solvency Ratio | |||||||
| Debt to assets1 | 0.10 | 0.12 | 0.12 | 0.20 | 0.09 | 0.16 | |
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Amazon.com Inc. | — | 0.15 | 0.19 | 0.18 | 0.19 | 0.23 | |
| Home Depot Inc. | 0.58 | 0.57 | 0.56 | 0.53 | 0.61 | 0.66 | |
| Lowe’s Cos. Inc. | 0.86 | 0.78 | 0.55 | 0.47 | 0.49 | 0.47 | |
| Debt to Assets, Sector | |||||||
| Consumer Discretionary Distribution & Retail | — | 0.24 | 0.25 | 0.24 | 0.26 | 0.31 | |
| Debt to Assets, Industry | |||||||
| Consumer Discretionary | — | 0.34 | 0.35 | 0.36 | 0.41 | 0.45 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 2,862 ÷ 29,747 = 0.10
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | TJX Cos. Inc. debt to assets ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
Debt to Assets (including Operating Lease Liability)
TJX Cos. Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt | —) | 500) | —) | 750) | —) | —) | |
| Long-term debt, excluding current portion | 2,862) | 2,859) | 3,355) | 5,333) | 2,237) | 2,234) | |
| Total debt | 2,862) | 3,359) | 3,355) | 6,083) | 2,237) | 2,234) | |
| Current portion of operating lease liabilities | 1,620) | 1,610) | 1,577) | 1,678) | 1,411) | —) | |
| Long-term operating lease liabilities, excluding current portion | 8,060) | 7,775) | 7,576) | 7,743) | 7,817) | —) | |
| Total debt (including operating lease liability) | 12,542) | 12,744) | 12,507) | 15,503) | 11,464) | 2,234) | |
| Total assets | 29,747) | 28,349) | 28,461) | 30,814) | 24,145) | 14,326) | |
| Solvency Ratio | |||||||
| Debt to assets (including operating lease liability)1 | 0.42 | 0.45 | 0.44 | 0.50 | 0.47 | 0.16 | |
| Benchmarks | |||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||
| Amazon.com Inc. | — | 0.29 | 0.33 | 0.31 | 0.31 | 0.34 | |
| Home Depot Inc. | 0.68 | 0.66 | 0.64 | 0.62 | 0.73 | 0.66 | |
| Lowe’s Cos. Inc. | 0.96 | 0.87 | 0.66 | 0.56 | 0.60 | 0.47 | |
| Debt to Assets (including Operating Lease Liability), Sector | |||||||
| Consumer Discretionary Distribution & Retail | — | 0.38 | 0.40 | 0.38 | 0.40 | 0.39 | |
| Debt to Assets (including Operating Lease Liability), Industry | |||||||
| Consumer Discretionary | — | 0.43 | 0.44 | 0.45 | 0.50 | 0.50 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 12,542 ÷ 29,747 = 0.42
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | TJX Cos. Inc. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
Financial Leverage
TJX Cos. Inc., financial leverage calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Total assets | 29,747) | 28,349) | 28,461) | 30,814) | 24,145) | 14,326) | |
| Shareholders’ equity | 7,302) | 6,364) | 6,003) | 5,833) | 5,948) | 5,049) | |
| Solvency Ratio | |||||||
| Financial leverage1 | 4.07 | 4.45 | 4.74 | 5.28 | 4.06 | 2.84 | |
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Amazon.com Inc. | — | 2.61 | 3.17 | 3.04 | 3.44 | 3.63 | |
| Home Depot Inc. | 73.30 | 48.94 | — | 21.39 | — | — | |
| Lowe’s Cos. Inc. | — | — | — | 32.52 | 20.02 | 9.47 | |
| Financial Leverage, Sector | |||||||
| Consumer Discretionary Distribution & Retail | — | 3.46 | 4.18 | 3.82 | 4.44 | 4.62 | |
| Financial Leverage, Industry | |||||||
| Consumer Discretionary | — | 4.00 | 4.38 | 4.26 | 5.72 | 6.22 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 29,747 ÷ 7,302 = 4.07
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | TJX Cos. Inc. financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024. |
Interest Coverage
TJX Cos. Inc., interest coverage calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income | 4,474) | 3,498) | 3,283) | 90) | 3,272) | 3,060) | |
| Add: Income tax expense | 1,493) | 1,138) | 1,115) | (1) | 1,134) | 1,113) | |
| Add: Interest expense, excluding capitalized interest | 79) | 84) | 120) | 194) | 59) | 65) | |
| Earnings before interest and tax (EBIT) | 6,046) | 4,720) | 4,517) | 283) | 4,465) | 4,238) | |
| Solvency Ratio | |||||||
| Interest coverage1 | 76.53 | 56.19 | 37.80 | 1.46 | 75.57 | 65.36 | |
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Amazon.com Inc. | — | 12.80 | -1.51 | 22.09 | 15.69 | 9.73 | |
| Home Depot Inc. | 11.25 | 14.90 | 17.14 | 13.60 | 13.25 | 14.85 | |
| Lowe’s Cos. Inc. | 7.86 | 8.79 | 13.49 | 9.88 | 8.83 | 6.21 | |
| Interest Coverage, Sector | |||||||
| Consumer Discretionary Distribution & Retail | — | 13.19 | 7.64 | 15.91 | 14.50 | 11.71 | |
| Interest Coverage, Industry | |||||||
| Consumer Discretionary | — | 12.27 | 9.45 | 13.29 | 7.81 | 9.65 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Interest coverage = EBIT ÷ Interest expense
= 6,046 ÷ 79 = 76.53
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | TJX Cos. Inc. interest coverage ratio improved from 2022 to 2023 and from 2023 to 2024. |
Fixed Charge Coverage
TJX Cos. Inc., fixed charge coverage calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income | 4,474) | 3,498) | 3,283) | 90) | 3,272) | 3,060) | |
| Add: Income tax expense | 1,493) | 1,138) | 1,115) | (1) | 1,134) | 1,113) | |
| Add: Interest expense, excluding capitalized interest | 79) | 84) | 120) | 194) | 59) | 65) | |
| Earnings before interest and tax (EBIT) | 6,046) | 4,720) | 4,517) | 283) | 4,465) | 4,238) | |
| Add: Operating lease cost | 2,015) | 1,927) | 1,906) | 1,820) | 1,752) | 1,678) | |
| Earnings before fixed charges and tax | 8,061) | 6,647) | 6,423) | 2,103) | 6,217) | 5,916) | |
| Interest expense, excluding capitalized interest | 79) | 84) | 120) | 194) | 59) | 65) | |
| Operating lease cost | 2,015) | 1,927) | 1,906) | 1,820) | 1,752) | 1,678) | |
| Fixed charges | 2,094) | 2,011) | 2,026) | 2,014) | 1,811) | 1,743) | |
| Solvency Ratio | |||||||
| Fixed charge coverage1 | 3.85 | 3.31 | 3.17 | 1.04 | 3.43 | 3.39 | |
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Amazon.com Inc. | — | 3.73 | 0.47 | 5.24 | 4.63 | 3.65 | |
| Home Depot Inc. | 7.03 | 9.07 | 9.94 | 8.97 | 8.26 | 7.80 | |
| Lowe’s Cos. Inc. | 5.82 | 5.77 | 8.02 | 6.05 | 5.04 | 3.68 | |
| Fixed Charge Coverage, Sector | |||||||
| Consumer Discretionary Distribution & Retail | — | 4.61 | 2.82 | 5.29 | 5.11 | 4.46 | |
| Fixed Charge Coverage, Industry | |||||||
| Consumer Discretionary | — | 4.98 | 3.70 | 5.63 | 3.72 | 4.20 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 8,061 ÷ 2,094 = 3.85
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | TJX Cos. Inc. fixed charge coverage ratio improved from 2022 to 2023 and from 2023 to 2024. |