Dollar General vs Dollar Tree
Add, change or remove companies; up to four.
The short version
- Dollar General is the larger business, with $42.7B of revenue in fiscal 2025 against $19.4B for Dollar Tree, about 2.2 times as much.
- Dollar Tree grew revenue faster (10.4%, against 5.2%).
- Dollar Tree kept more of each dollar of sales as operating profit (8.5% operating margin, against 5.2%).
- Dollar Tree earned a higher return on the capital invested in it (21.4%, against 13.8%).
- Investors pay more for each dollar of Dollar General’s earnings: a P/E of 17.3x against 15.4x for Dollar Tree.
| Latest fiscal year | DG · FY25 | DLTR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $29.4B | $23.9B |
| Revenue | $42.7B | $19.4B |
| Free cash flow | $2.4B | $1.1B |
| Net income | $1.5B | $1.3B |
| Growth | ||
| Revenue growth | 5.2% | 10.4% |
| 5-year growth | 4.8% | −5.3% |
| Share count change | 0.4% | −4.5% |
| Profitability | ||
| Gross margin | 30.7% | 36.3% |
| Operating margin | 5.2% | 8.5% |
| Net margin | 3.5% | 6.6% |
| FCF margin | 5.6% | 5.4% |
| Return on capital | 13.8% | 21.4% |
| Return on equity | 19.0% | 33.2% |
| Balance sheet | ||
| Net debt | $3.4B | $1.7B |
| Net debt / EBITDA | 1.1x | 0.7x |
| Dividends and buybacks | $520M | $1.5B |
| Valuation & quality | ||
| P/E | 17.3x | 15.4x |
| Piotroski F-score | 7 | 9 |
Revenue
FY16
DG $22.0B
DLTR $20.7B
FY17
DG $23.5B
DLTR $22.2B
FY18
DG $25.6B
DLTR $22.8B
FY19
DG $27.8B
DLTR $23.6B
FY20
DG $33.7B
DLTR $25.5B
FY21
DG $34.2B
DLTR $26.3B
FY22
DG $37.8B
DLTR $15.4B
FY23
DG $38.7B
DLTR $16.8B
FY24
DG $40.6B
DLTR $17.6B
FY25
DG $42.7B
DLTR $19.4B
DG
DLTR
Operating margin
FY16
DG 9.4%
DLTR 8.2%
FY17
DG 8.6%
DLTR 9.0%
FY18
DG 8.3%
DLTR −4.1%
FY19
DG 8.3%
DLTR 5.4%
FY20
DG 10.5%
DLTR 7.4%
FY21
DG 9.4%
DLTR 6.9%
FY22
DG 8.8%
DLTR 13.6%
FY23
DG 6.3%
DLTR 10.6%
FY24
DG 4.2%
DLTR 8.3%
FY25
DG 5.2%
DLTR 8.5%
DG
DLTR
Free cash flow
FY16
DG $1.0B
DLTR $1.1B
FY17
DG $1.2B
DLTR $878M
FY18
DG $1.4B
DLTR $949M
FY19
DG $1.5B
DLTR $835M
FY20
DG $2.8B
DLTR $1.8B
FY21
DG $1.8B
DLTR $410M
FY22
DG $424M
DLTR $976M
FY23
DG $692M
DLTR $1.5B
FY24
DG $1.7B
DLTR $893M
FY25
DG $2.4B
DLTR $1.1B
DG
DLTR
Return on capital
FY16
DG 15.8%
DLTR 10.4%
FY17
DG 18.7%
DLTR 17.6%
FY18
DG 18.6%
DLTR −7.0%
FY19
DG 19.4%
DLTR 10.0%
FY20
DG 29.5%
DLTR 15.7%
FY21
DG 25.9%
DLTR 15.3%
FY22
DG 23.2%
DLTR 14.7%
FY23
DG 15.1%
DLTR 12.4%
FY24
DG 10.3%
DLTR 13.4%
FY25
DG 13.8%
DLTR 21.4%
DG
DLTR
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.