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Discount retailer operating Dollar Tree stores selling fixed low-price general merchandise and variety goods.
Discount retailer operating Dollar Tree stores selling fixed low-price general merchandise and variety goods.
Buys cheaply in bulk, much of it imported, and sells at set low price points, so profit depends on sourcing cost rather than item-by-item markups. It sold Family Dollar in 2025, a decade after buying it, leaving the Dollar Tree banner alone, and since 2021 has broken from a single price to several price tiers.
Moat: narrow (scale, distribution, brand). Large-scale sourcing lets it hold a fixed low price profitably; brand tied to that price promise.
Headquarters: Chesapeake, Virginia, US · Founded: 1986 · Employees: 153,032
Size Dollar Tree (DLTR) is a United States Consumer Staples company (Discount Stores) with a market value of $24.6B, the 430th largest of 3,117 United States companies the cockpit tracks. Shares closed at $131.14 on 6 Nov 2026.
Performance Over six months the shares gained 39.2%, against +7.9% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 5 in its peer set.
Growth Revenue fell 7.8% over the last twelve months (peer median +4.2%); the operating margin is 10.5% (peer median 8.3%).
Valuation It trades at 19.1× forward earnings against a peer median of 17.2× (2nd most expensive of 5).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is -5%, so the hurdle is +5 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 9.2 points above its cost of capital (7.5% WACC).
Credit Dollar Tree has 3 bonds outstanding ($2.45B), rated BBB by the agencies and trading like BBB+ at a weighted spread of 77 bp.
Short interest Short interest is 5.2% of the free float (15 Oct 2026).
Next results Next results expected around 24 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $20.1B | $19.4B | $17.6B | $16.8B | $28.3B |
| Revenue growth | — | +10% | +5% | -41% | — |
| Gross profit | $7.77B | $7.06B | $6.29B | $6.02B | $8.91B |
| EBITDA | $2.81B | $2.26B | $1.99B | $2.17B | $3.04B |
| Net income | $1.61B | $1.28B | -$3.03B | -$998M | $1.62B |
| Free cash flow | $1.98B | $1.40B | $1.56B | $1.49B | $361M |
| Capital expenditure | $1.14B | $1.13B | $1.30B | $1.19B | $1.25B |
| Total debt | $7.67B | $7.06B | $7.83B | $7.37B | $10.1B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Dollar Tree DLTR | $24.6B | +39% | -8% | 11% | 19.1× | 0.1% |
| Dollar General DG | $29.5B | +18% | +5% | 6% | 16.6× | 0.9% |
| Five Below FIVE | $13.2B | +8% | +26% | 15% | 23.7× | 8.1% |
| Walmart WMT | $996B | -4% | +6% | 4% | 41.8× | 14.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | DLTR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.6% | +11.1% | 3rd highest of 5 |
| 6-month return | +39.2% | +7.9% | highest of 5 |
| Distance from 52-week high | -11.7% | -14.7% | 2nd highest of 5 |
| Revenue growth (TTM) | -7.8% | +4.2% | lowest of 5 |
| Operating margin | 10.5% | 8.3% | 2nd highest of 5 |
| Forward P/E | 19.1× | 17.2× | 2nd most expensive of 5 |
| Growth the price implies (Req g, 7 yrs) | 0.1% | 4.5% | 2nd least demanding of 5 |
| Growth delivered (Del g) | -5.3% | +12.1% | lowest of 5 |
| Hurdle (Req g minus delivered) | +5.4 pp | -7.6 pp | 2nd most demanding of 5 |
| ROIC minus cost of capital | +9.2 pp | +1.4 pp | 2nd highest of 5 |
| EV / EBITDA | 11.1× | 12.4× | 2nd cheapest of 4 |
| Net debt / EBITDA | 2.4× | 4.0× | 2nd least indebted of 4 |
| Bond spread | 77 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Dollar Tree DLTR | United States | $24.6B | +39% | -8% | 11% | 19.1× | 0.1% | -5.3% |
| Dollar General DG | United States | $29.5B | +18% | +5% | 6% | 16.6× | 0.9% | +4.8% |
| China Tourism Group Duty Free 1880.HK | Hong Kong | $16.1B | -22% | +4% | 10% | 17.8× | 12.0% | -0.3% |
| Five Below FIVE | United States | $13.2B | +8% | +26% | 15% | 23.7× | 8.1% | +19.4% |
| Avolta AVOL.SW | Switzerland | $8.03B | +8% | -1% | 7% | 13.8× | -1.6% | +40.3% |
Dollar Tree has 3 bonds outstanding with $2.45B face value. The agencies rate it BBB; its bonds trade like BBB+. Weighted yield 5.44%, a spread of 77 bp over government bonds.