Dollar General vs Target
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The short version
- Target is the larger business, with $104.8B of revenue in fiscal 2025 against $42.7B for Dollar General, about 2.5 times as much.
- Dollar General grew revenue faster (5.2%, against −1.7%).
- Dollar General turned more of its sales into free cash flow (5.6% FCF margin, against 2.7%).
- Target earned a higher return on the capital invested in it (15.0%, against 13.8%).
- Investors pay more for each dollar of Dollar General’s earnings: a P/E of 17.3x against 15.9x for Target.
| Latest fiscal year | DG · FY25 | TGT · FY25 |
|---|---|---|
| Size | ||
| Market cap | $29.4B | $69.8B |
| Revenue | $42.7B | $104.8B |
| Free cash flow | $2.4B | $2.8B |
| Net income | $1.5B | $3.7B |
| Growth | ||
| Revenue growth | 5.2% | −1.7% |
| 5-year growth | 4.8% | 2.3% |
| Share count change | 0.4% | −1.3% |
| Profitability | ||
| Gross margin | 30.7% | 27.9% |
| Operating margin | 5.2% | 4.9% |
| Net margin | 3.5% | 3.5% |
| FCF margin | 5.6% | 2.7% |
| Return on capital | 13.8% | 15.0% |
| Return on equity | 19.0% | 24.0% |
| Balance sheet | ||
| Net debt | $3.4B | $11.0B |
| Net debt / EBITDA | 1.1x | 1.3x |
| Dividends and buybacks | $520M | $2.5B |
| Valuation & quality | ||
| P/E | 17.3x | 15.9x |
| Piotroski F-score | 7 | 6 |
Revenue
FY16
DG $22.0B
TGT $70.3B
FY17
DG $23.5B
TGT $72.7B
FY18
DG $25.6B
TGT $75.4B
FY19
DG $27.8B
TGT $78.1B
FY20
DG $33.7B
TGT $93.6B
FY21
DG $34.2B
TGT $106.0B
FY22
DG $37.8B
TGT $109.1B
FY23
DG $38.7B
TGT $107.4B
FY24
DG $40.6B
TGT $106.6B
FY25
DG $42.7B
TGT $104.8B
DG
TGT
Operating margin
FY16
DG 9.4%
TGT 6.9%
FY17
DG 8.6%
TGT 5.8%
FY18
DG 8.3%
TGT 5.5%
FY19
DG 8.3%
TGT 6.0%
FY20
DG 10.5%
TGT 7.0%
FY21
DG 9.4%
TGT 8.4%
FY22
DG 8.8%
TGT 3.5%
FY23
DG 6.3%
TGT 5.3%
FY24
DG 4.2%
TGT 5.2%
FY25
DG 5.2%
TGT 4.9%
DG
TGT
Free cash flow
FY16
DG $1.0B
TGT $3.9B
FY17
DG $1.2B
TGT $4.4B
FY18
DG $1.4B
TGT $2.5B
FY19
DG $1.5B
TGT $4.1B
FY20
DG $2.8B
TGT $7.9B
FY21
DG $1.8B
TGT $5.1B
FY22
DG $424M
TGT −$1.5B
FY23
DG $692M
TGT $3.8B
FY24
DG $1.7B
TGT $4.5B
FY25
DG $2.4B
TGT $2.8B
DG
TGT
Return on capital
FY16
DG 15.8%
TGT 15.3%
FY17
DG 18.7%
TGT 16.3%
FY18
DG 18.6%
TGT 15.8%
FY19
DG 19.4%
TGT 17.4%
FY20
DG 29.5%
TGT 26.2%
FY21
DG 25.9%
TGT 35.6%
FY22
DG 23.2%
TGT 13.7%
FY23
DG 15.1%
TGT 17.6%
FY24
DG 10.3%
TGT 16.8%
FY25
DG 13.8%
TGT 15.0%
DG
TGT
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.