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DLTRDollar Tree

Consumer staples · Discount Stores · Nasdaq

We are a leading operator of retail discount stores operating under the brand names of Dollar Tree and Dollar Tree Canada. 10-K, Item 1

DLTR quote by TradingView
Headquarters
Chesapeake, VA
Next results
around Dec 2, 2026
Compare with peers → Embed
FY2025 at a glance

Sales up 10.4%, free cash flow up to $1.1B

XBRL, from each 10-K
RevenueStatements ↓
$19.4B
from $17.6B in FY2024
FY2016FY2025
Net incomeStatements ↓
$1.3B
from -$3.0B in FY2024
FY2016FY2025
Free cash flowStatements ↓
$1.1B
from $892.8M in FY2024
FY2016FY2025
EPS (diluted)Statements ↓
$6.22
from $-14.03 in FY2024
FY2016FY2025
Operating marginStatements ↓
8.5%
from 8.3% in FY2024
FY2016FY2025
Total debtStatements ↓
$2.4B
from $3.4B in FY2024
FY2016FY2025
Price and key numbers

The latest figures

All key numbers (38, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)8.14Sales (ttm)20.1BNet income (ttm)1.6BSales growth+10.4%EPS growth-Sales Q/Q+7.0%
Free cash flow2.0BGross margin38.6%Oper. margin11.0%Net margin8.0%FCF margin9.9%ROE47.1%
ROA11.5%R&D / sales-Dividend-Debt/Eq0.86Curr. ratio1.13Cash1.1B
Op. cash flow (ttm)3.1BEBITDA2.3BEBITDA margin11.9%Net debt1.9BQuick ratio1.13Interest cover13.18
ROIC19.5%Tax rate24.8%Stock pay / sales0.3%Shares out.187.6MShares Y/Y-4.4%Book / share18.26
Cash / share5.64Sales / share106.96Asset turnover1.43Days sales out.2Sales 3Y CAGR+8.0%Sales 5Y CAGR-5.3%
EPS 3Y CAGR-4.8%EPS 5Y CAGR+1.9%

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Debt fell 29%$3.4B → $2.4B · Short-term + long-term debt at year end
  • Revenue growth sped up to +10.4%+4.8% → +10.4% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
  • Net income turned to a profit−$3.0B → $1.3B · Net income attributable to the company · 10-K ↗
What management wrote about it → · Every company →

DLTR against Consumer staples peers

Ten years, side by side → · All 34 →
GrowthProfitBalanceCleanInsiders
DLTRPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 34 companies, the better end on the right. Hover a dot for the company.

Sales growth
+10.4%3rd of 33 · median +2.1%
Net margin
8.0%17th of 33 · median 8.0%
Return on equity
47.1%3rd of 29 · median 18.6%
Free cash flow margin
9.9%20th of 33 · median 10.7%
Debt / equity (less is better)
0.8616th of 29 · median 0.82
DLTR and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
DLTR Dollar Tree$20.1B +10.4%38.6%8.0%47.1%9.9%0.86
MO Altria$23.5B -3.1%63.3%34.5%-38.6%-
KDP Keurig Dr Pepper$23.1B +8.2%48.0%7.1%6.5%10.1%1.14
CL Colgate-Palmolive$21.3B +1.4%60.6%9.6%-17.8%-
CASY Casey's$18.7B +10.2%-4.1%18.9%3.5%0.59
GIS General Mills$18.3B -5.4%33.6%-4.9%-12.0%8.5%1.83
Where each dollar goes

From $26.3B of sales to $1.3B of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $7.7BRevenue to Cost of revenue: $18.6BGross profit to Operating profit: $1.8BGross profit to Operating expenses: $5.9BOperating profit to Net profit: $1.3BOperating profit to Tax & other: $483.5M Revenue: $26.3B Revenue$26.3B +3% Y/Y Gross profit: $7.7B · 29% margin Gross profit$7.7B29% margin −1% Y/Y Cost of revenue: $18.6B · 71% of revenue Cost of revenue$18.6B71% of revenue Operating profit: $1.8B · 7% margin Operating profit$1.8B7% margin −4% Y/Y Operating expenses: $5.9B · 22% of revenue Operating expenses$5.9B22% of revenue Net profit: $1.3B · 5% margin Net profit$1.3B5% margin −1% Y/Y Tax & other: $483.5M · 2% of revenue Tax & other$483.5M2% of revenue

Swipe sideways for the whole flow →

From $15.4B of sales to $1.6B of profit

FY2022, from the 10-K income statement and revenue by product
Consumable to Revenue: $7.0BVariety to Revenue: $7.5BSeasonal to Revenue: $970.6MRevenue to Gross profit: $5.8BRevenue to Cost of revenue: $9.6BGross profit to Operating profit: $2.1BGross profit to Operating expenses: $3.7BOperating profit to Net profit: $1.6BOperating profit to Tax & other: $483.9M Consumable: $7.0B · 45% Consumable$7.0B45% Variety: $7.5B · 48% Variety$7.5B48% Seasonal: $970.6M · 6% Seasonal$970.6M6% Revenue: $15.4B Revenue$15.4B −41% Y/Y Gross profit: $5.8B · 37% margin Gross profit$5.8B37% margin −25% Y/Y Cost of revenue: $9.6B · 63% of revenue Cost of revenue$9.6B63% of revenue Operating profit: $2.1B · 14% margin Operating profit$2.1B14% margin +16% Y/Y Operating expenses: $3.7B · 24% of revenue Operating expenses$3.7B24% of revenue Net profit: $1.6B · 10% margin Net profit$1.6B10% margin +22% Y/Y Tax & other: $483.9M · 3% of revenue Tax & other$483.9M3% of revenue

Swipe sideways for the whole flow →

From $19.4B of sales to $1.3B of profit

FY2025, from the 10-K income statement and revenue by product
Consumable to Revenue: $9.4BVariety to Revenue: $8.9BSeasonal to Revenue: $1.1BRevenue to Gross profit: $7.1BRevenue to Cost of revenue: $12.4BGross profit to Operating profit: $1.7BGross profit to Operating expenses: $5.4BOperating profit to Net profit: $1.3BOperating profit to Tax & other: $370.6M Consumable: $9.4B · 49% Consumable$9.4B49% Variety: $8.9B · 46% Variety$8.9B46% Seasonal: $1.1B · 6% Seasonal$1.1B6% Revenue: $19.4B Revenue$19.4B +10% Y/Y Gross profit: $7.1B · 36% margin Gross profit$7.1B36% margin +12% Y/Y Cost of revenue: $12.4B · 64% of revenue Cost of revenue$12.4B64% of revenue Operating profit: $1.7B · 9% margin Operating profit$1.7B9% margin +13% Y/Y Operating expenses: $5.4B · 28% of revenue Operating expenses$5.4B28% of revenue Net profit: $1.3B · 7% margin Net profit$1.3B7% margin Tax & other: $370.6M · 2% of revenue Tax & other$370.6M2% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2025
  • Cost of revenue
  • Sales, admin & other
  • Tax, less other income
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

3 of 4
  • ✓
    Net margin above the peer median8.0% vs 8.0%
  • ✓
    Gross margin up over 5 years30.5% → 36.3%
  • ✓
    Return on equity above 15%47.1%
  • !
    A profit in 7 of 10 years
Net margin, FY2016 to FY2025: 4.3% → 6.6%

Balance sheet

4 of 4
  • ✓
    Interest covered more than 5 timesOperating income is 13.2× interest expense
  • ✓
    Debt smaller than equityDebt / equity 0.86 on the latest balance sheet (peer median 0.82)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 1.13
  • ✓
    Net debt under 3 years of free cash flow$1.9B net debt, 0.9 years
Debt / equity at each year end, FY2016 to FY2025: 1.19 → 0.65
What the debt is made of ↓

Cash and shareholders

3 of 3
  • ✓
    Free cash flow positive in every one of 10 years$1.1B last year
  • ✓
    Share count down over 5 years−13.1%
  • ✓
    Cash from operations above net income$2.2B vs $1.3B
Free cash flow, FY2016 to FY2025: 1.1B → 1.1B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

What the debt is made of, and when it is due

balance sheet of Aug 1, 2026 · schedule of Jan 31, 2026
Debt: $2.9B Debt$2.9B Long-term debt: $2.9B · 100% Long-term debt$2.9B · 100% Year 3: $1.2B · 43% Year 3$1.2B · 43% After year 5: $1.2B · 41% After year 5$1.2B · 41%

The debt note's own lines, 2026-01-31

Fixed rate $0Floating $10.1B Not stated $2.5B

Line, as the company names itKindRateFixed or floatingAmount
Commercial PaperCommercial paper–floating$10.1B
4.20% Senior Notes, due May 2028 (Senior Notes)Notes and bonds4.20%not stated$1.2B
2.65% Senior Notes, due December 2031 (Senior Notes)Notes and bonds2.65%not stated$800.0M
3.375% Senior Notes, due December 2051 (Senior Notes)Notes and bonds3.38%not stated$400.0M

From the debt note in the 10-K's XBRL (0000935703-26-000025), as the company tags it: by issue, by year, by currency or by kind. Lines from two ways of cutting the same debt can overlap, so they are not added up. Fixed or floating is read from the line's own name only; "not stated" when it says neither.

Left: the debt lines on the balance sheet (XBRL). Right: the principal due each year, from the debt note's maturity schedule; it can differ a little from the balance sheet, which shows the debt net of discounts and fees. Leases are not counted. The full schedule →

Revenue and net income, FY2016 to FY2025

Revenue 19.4B Net income 1.3B
FY2016 revenue 20.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000935703-19-000024 FY2016 net income 896.2M · NetIncomeLoss, 0000935703-19-000024 20.7B FY2016 FY2017 revenue 22.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000935703-20-000006 FY2017 net income 1.7B · NetIncomeLoss, 0000935703-20-000006 22.2B FY2017 FY2018 revenue 22.8B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000935703-21-000014 FY2018 net income -1.6B · NetIncomeLoss, 0000935703-21-000014 22.8B FY2018 FY2019 revenue 23.6B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000935703-22-000020 FY2019 net income 827.0M · NetIncomeLoss, 0000935703-22-000020 23.6B FY2019 FY2020 revenue 25.5B · Revenues, 0000935703-23-000016 FY2020 net income 1.3B · NetIncomeLoss, 0000935703-23-000016 25.5B FY2020 FY2021 revenue 26.3B · Revenues, 0000935703-24-000011 FY2021 net income 1.3B · NetIncomeLoss, 0000935703-24-000011 26.3B FY2021 FY2022 revenue 15.4B · Revenues, 0000935703-25-000015 FY2022 net income 1.6B · NetIncomeLoss, 0000935703-25-000015 15.4B FY2022 FY2023 revenue 16.8B · Revenues, 0000935703-26-000025 FY2023 net income -998.4M · NetIncomeLoss, 0000935703-26-000025 16.8B FY2023 FY2024 revenue 17.6B · Revenues, 0000935703-26-000025 FY2024 net income -3.0B · NetIncomeLoss, 0000935703-26-000025 17.6B FY2024 FY2025 revenue 19.4B · Revenues, 0000935703-26-000025 FY2025 net income 1.3B · NetIncomeLoss, 0000935703-26-000025 19.4B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

DLTR's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue19.4B
FY2016: 20.7BFY2017: 22.2BFY2018: 22.8BFY2019: 23.6BFY2020: 25.5BFY2021: 26.3BFY2022: 15.4BFY2023: 16.8BFY2024: 17.6BFY2025: 19.4B FY2017FY2019FY2021FY2023FY2025
Net income1.3B
FY2016: 896.2MFY2017: 1.7BFY2018: -1.6BFY2019: 827.0MFY2020: 1.3BFY2021: 1.3BFY2022: 1.6BFY2023: -998.4MFY2024: -3.0BFY2025: 1.3B FY2017FY2019FY2021FY2023FY2025
Free cash flow1.1B
FY2016: 1.1BFY2017: 878.0MFY2018: 948.9MFY2019: 835.0MFY2020: 1.8BFY2021: 410.3MFY2022: 975.8MFY2023: 1.5BFY2024: 892.8MFY2025: 1.1B FY2017FY2019FY2021FY2023FY2025
EPS (diluted)6.22
FY2016: 3.78FY2017: 7.21FY2018: -6.69FY2019: 3.47FY2020: 5.65FY2021: 5.80FY2022: 7.21FY2023: -4.54FY2024: -14.03FY2025: 6.22 FY2017FY2019FY2021FY2023FY2025
Diluted shares206.3M
FY2016: 236.8MFY2017: 237.7MFY2018: 237.9MFY2019: 238.3MFY2020: 237.3MFY2021: 229.0MFY2022: 224.1MFY2023: 219.9MFY2024: 215.9MFY2025: 206.3M FY2017FY2019FY2021FY2023FY2025

Revenue by product or service

year to Jan 31, 2026
RevenueSharevs year before
Consumable 9.4B48.6% +9.9%
Variety 8.9B45.6% +11.5%
Seasonal 1.1B5.7% +6.0%

10-K 0000935703-26-000025, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue20.7B22.2B22.8B23.6B25.5B26.3B15.4B16.8B17.6B19.4B
Cost of revenue14.3B15.2B15.9B16.6B17.7B18.6B9.6B10.8B11.3B12.3B
Gross profit6.4B7.0B6.9B7.0B7.8B7.7B5.8B6.0B6.3B7.1B
SG&A4.7B5.0B5.2B5.5B5.9B5.9B3.7B4.2B4.8B5.5B
Operating income1.7B2.0B-939.5M1.3B1.9B1.8B2.1B1.8B1.5B1.7B
Interest expense329.1M286.5M383.4M170.2M152.9M176.1M132.2M131.4M132.8M125.4M
Pretax income1.3B1.7B-1.3B1.1B1.7B1.6B2.0B1.7B1.4B1.6B
Income tax433.2M-10.3M281.8M271.7M397.9M304.3M471.6M396.1M341.1M404.2M
Net income896.2M1.7B-1.6B827.0M1.3B1.3B1.6B-998.4M-3.0B1.3B
EPS (diluted)3.787.21-6.693.475.655.807.21-4.54-14.036.22
Diluted shares236.8M237.7M237.9M238.3M237.3M229.0M224.1M219.9M215.9M206.3M
Depreciation & amortization637.5M611.2M621.1M645.4M686.6M716.0M365.3M400.5M526.9M648.1M
EBITDA2.3B2.6B-318.4M1.9B2.6B2.5B2.5B2.2B2.0B2.3B
Gross margin30.9%31.6%30.4%29.8%30.5%29.4%37.5%35.8%35.7%36.3%
Operating margin8.2%9.0%-4.1%5.3%7.4%6.9%13.6%10.6%8.3%8.5%
Net margin4.3%7.7%-7.0%3.5%5.3%5.0%10.5%-5.9%-17.2%6.6%
Revenue growth-+7.4%+2.6%+3.5%+8.0%+3.2%-41.4%+8.9%+4.8%+10.4%
EPS growth-+90.7%-193%-+62.8%+2.7%+24.3%-163%--

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash866.4M1.1B422.1M539.2M1.4B984.9M642.8M425.2M1.3B717.8M
Short-term investments4.0M0--------
Receivables--100.9M113.3M------
Current assets3.9B4.6B4.3B4.3B5.1B5.6B6.4B6.1B9.1B3.4B
Property & equipment3.1B3.2B3.4B3.9B4.1B4.5B5.0B3.8B4.5B5.0B
Goodwill5.0B5.0B2.3B2.0B2.0B2.0B2.0B423.3M421.2M423.2M
Total assets15.7B16.3B13.5B19.6B20.7B21.7B23.0B22.0B18.6B13.5B
Accounts payable1.1B1.2B1.4B1.3B1.5B1.9B1.9B1.2B1.7B1.5B
Current liabilities2.1B2.9B2.1B3.5B3.7B4.2B4.2B4.7B8.6B3.2B
Total debt6.4B5.7B4.3B3.8B3.2B3.4B3.4B3.4B3.4B2.4B
Total liabilities10.3B9.2B7.9B13.3B13.4B14.0B14.3B14.7B14.7B9.7B
Shareholders' equity5.4B7.2B5.6B6.3B7.3B7.7B8.8B7.3B4.0B3.8B
Retained earnings3.0B4.7B3.1B3.8B5.2B6.5B8.1B7.1B3.9B3.8B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow1.7B1.5B1.8B1.9B2.7B1.4B1.6B2.7B2.2B2.2B
Capital spending564.7M632.2M817.1M1.0B898.8M1.0B639.0M1.2B1.3B1.1B
Free cash flow1.1B878.0M948.9M835.0M1.8B410.3M975.8M1.5B892.8M1.1B
Stock-based pay (added back)61.6M65.7M63.1M61.4M83.9M79.9M91.5M76.3M106.9M58.9M
Buybacks-00200.0M400.0M950.0M647.5M500.0M400.0M1.5B
Acquisitions00--------
Debt raised3.0B04.8B-------
Investing cash flow-483.6M-627.9M-816.7M-1.0B-889.7M-1.0B-1.3B-2.1B-1.2B-648.7M
Financing cash flow-1.1B-651.5M-1.6B-709.8M-949.9M-836.5M-686.8M-530.0M-411.3M-2.6B

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)61.6M65.7M63.1M61.4M83.9M79.9M91.5M76.3M106.9M58.9M
Stock-based pay / revenue0.3%0.3%0.3%0.3%0.3%0.3%0.6%0.5%0.6%0.3%
Operating lease cost---1.5B1.6B1.6B907.2M948.1M1.0B1.1B
Operating lease cash paid---1.4B1.5B1.6B900.4M1.0B1.0B1.2B
Right-of-use assets--6.2B6.2B6.3B6.4B6.5B3.7B4.1B4.4B
Operating lease liabilities--6.1B6.3B6.4B6.6B6.7B7.0B4.4B4.6B

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

Work on DLTR in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/DLTR/export.csv") into a cell.