Dollar General vs Philip Morris International
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The short version
- Dollar General is the larger business, with $42.7B of revenue in fiscal 2025 against $40.6B for Philip Morris International.
- Philip Morris International grew revenue faster (7.3%, against 5.2%).
- Philip Morris International kept more of each dollar of sales as operating profit (36.6% operating margin, against 5.2%).
- Philip Morris International turned more of its sales into free cash flow (26.2% FCF margin, against 5.6%).
- Philip Morris International earned a higher return on the capital invested in it (35.4%, against 13.8%).
- Investors pay more for each dollar of Philip Morris International’s earnings: a P/E of 29.1x against 17.3x for Dollar General.
| Latest fiscal year | DG · FY25 | PM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $29.4B | $311.2B |
| Revenue | $42.7B | $40.6B |
| Free cash flow | $2.4B | $10.7B |
| Net income | $1.5B | $11.3B |
| Growth | ||
| Revenue growth | 5.2% | 7.3% |
| 5-year growth | 4.8% | 7.2% |
| Share count change | 0.4% | 0.1% |
| Profitability | ||
| Gross margin | 30.7% | 67.1% |
| Operating margin | 5.2% | 36.6% |
| Net margin | 3.5% | 27.9% |
| FCF margin | 5.6% | 26.2% |
| Return on capital | 13.8% | 35.4% |
| Return on equity | 19.0% | — |
| Balance sheet | ||
| Net debt | $3.4B | $44.0B |
| Net debt / EBITDA | 1.1x | 2.6x |
| Dividends and buybacks | $520M | $8.6B |
| Valuation & quality | ||
| P/E | 17.3x | 29.1x |
| Piotroski F-score | 7 | 7 |
Revenue
FY16
DG $22.0B
PM $26.7B
FY17
DG $23.5B
PM $28.7B
FY18
DG $25.6B
PM $29.6B
FY19
DG $27.8B
PM $29.8B
FY20
DG $33.7B
PM $28.7B
FY21
DG $34.2B
PM $31.4B
FY22
DG $37.8B
PM $31.8B
FY23
DG $38.7B
PM $35.2B
FY24
DG $40.6B
PM $37.9B
FY25
DG $42.7B
PM $40.6B
DG
PM
Operating margin
FY16
DG 9.4%
PM 40.9%
FY17
DG 8.6%
PM 40.3%
FY18
DG 8.3%
PM 38.4%
FY19
DG 8.3%
PM 35.3%
FY20
DG 10.5%
PM 40.7%
FY21
DG 9.4%
PM 41.3%
FY22
DG 8.8%
PM 38.6%
FY23
DG 6.3%
PM 32.9%
FY24
DG 4.2%
PM 35.4%
FY25
DG 5.2%
PM 36.6%
DG
PM
Free cash flow
FY16
DG $1.0B
PM $6.9B
FY17
DG $1.2B
PM $7.4B
FY18
DG $1.4B
PM $8.0B
FY19
DG $1.5B
PM $9.2B
FY20
DG $2.8B
PM $9.2B
FY21
DG $1.8B
PM $11.2B
FY22
DG $424M
PM $9.7B
FY23
DG $692M
PM $7.9B
FY24
DG $1.7B
PM $10.8B
FY25
DG $2.4B
PM $10.7B
DG
PM
Return on capital
FY16
DG 15.8%
PM 57.2%
FY17
DG 18.7%
PM 46.4%
FY18
DG 18.6%
PM 58.3%
FY19
DG 19.4%
PM 55.7%
FY20
DG 29.5%
PM 64.8%
FY21
DG 25.9%
PM 70.6%
FY22
DG 23.2%
PM 40.6%
FY23
DG 15.1%
PM 26.0%
FY24
DG 10.3%
PM 30.1%
FY25
DG 13.8%
PM 35.4%
DG
PM
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.