DOLLAR GENERAL CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data DOLLAR GENERAL CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	21,987	23,471	25,625	27,754	33,747	34,220	37,845	38,692	40,612	42,724
Cost of revenue	15,204	16,250	17,821	19,265	23,028	23,407	26,025	26,973	28,595	29,625
Gross profit	6,783	7,221	7,804	8,489	10,719	10,813	11,820	11,719	12,017	13,100
Selling, general and administrative	4,719	5,214	5,688	6,187	7,164	7,592	8,492	9,273	10,303	10,896
Operating income	2,063	2,008	2,116	2,302	3,555	3,221	3,328	2,446	1,714	2,204
Interest expense	97.8	97	99.9	101	150	158	211	327
Other non-operating income		-3.5	-1.02				-0.42			-8.51
Pre-tax income	1,966	1,907	2,015	2,202	3,404	3,063	3,117	2,120	1,440	1,965
Income tax	714	368	426	489	749	664	701	458	315	452
Net income	1,251	1,539	1,589	1,713	2,655	2,399	2,416	1,661	1,125	1,512
EBITDA	2,443	2,412	2,570	2,807	4,129	3,862	4,053	3,295	2,686	3,250
EPS, basic	4.45	5.64	5.99	6.68	10.70	10.24	10.73	7.57	5.12	6.87
EPS, diluted	4.43	5.63	5.97	6.64	10.62	10.17	10.68	7.55	5.11	6.85
Shares, basic (weighted)	281	273	265	257	248	234	225	219	220	220
Shares, diluted (weighted)	282	273	266	258	250	236	226	220	220	221
Dividend per share	1.00	1.04	1.16	1.28	1.44	1.68	2.20	2.36	2.36	2.36

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	188	267	235	240	1,377	345	382	537	933	1,139
Inventory	3,259	3,609	4,097	4,677	5,247	5,614	6,761	6,994	6,711	6,332
Other current assets	220	263	273	184	199	247	303	367	393	410
Total current assets	3,678	4,248	4,663	5,178	6,914	6,304	7,581	8,011	8,164	7,898
Property, plant and equipment	2,434	2,701	2,971	3,278	3,900	4,346	5,236	6,088	6,209	6,399
Lease right-of-use assets				8,796	9,473	10,093	10,670	11,098	11,164	11,073
Goodwill	4,339	4,339	4,339	4,339	4,339	4,339	4,339	4,339	4,339	4,339
Intangible assets	1,201	1,200	1,200	1,200	1,200	1,200	1,200	1,200	1,200	1,200
Other non-current assets	20.8	28.8	31.4	34.1	36.6	46.1	57.7	60.6	57.3	56.2
Total assets	11,672	12,517	13,204	22,825	25,863	26,327	29,083	30,796	31,133	30,964
Accounts payable	1,558	2,010	2,385	2,861	3,614	3,739	3,553	3,587	3,833	4,052
Accrued liabilities	501	550	618	709	1,007	1,049	1,037	972	1,046	1,263
Short-term debt	501	401	1.95	0.56				769	519	14.4
Total current liabilities	2,623	2,965	3,016	4,543	5,711	5,979	5,888	6,726	6,869	6,961
Long-term debt	2,711	2,605	2,863	2,911		4,172	7,009	6,232	5,719	4,566
Lease liabilities				7,820	8,385	8,891	9,363	9,703	9,765	9,606
Other non-current liabilities	280	306	298	173	264	198	221	252	263	280
Total liabilities	6,266	6,391	6,787	16,123	19,201	20,065	23,542	24,046	23,719	22,452
Total debt	3,212	3,006	2,865	2,912	4,131	4,172	7,009	7,000	6,238	4,580
Paid-in capital	3,155	3,196	3,252	3,323	3,447	3,588	3,694	3,757	3,813	3,910
Retained earnings	2,016	2,698	2,941	3,163	3,006	2,474	1,656	2,799	3,406	4,398
Other comprehensive income	-4.99	-4.18	-3.21	-3.14	-2.16	-1.19	0.04	0.49	2.99	11.2
Shareholders' equity	5,406	6,126	6,417	6,703	6,661	6,262	5,542	6,749	7,414	8,512
Total equity	5,406	6,126	6,417	6,703	6,661	6,262	5,542	6,749	7,414	8,512
Total liabilities and equity	11,672	12,517	13,204	22,825	25,863	26,327	29,083	30,796	31,133	30,964
Shares outstanding	275	269	260	252	241	230	219	220	220	220

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	1,251	1,539	1,589	1,713	2,655	2,399	2,416	1,661	1,125	1,512
Depreciation and amortization	380	404	454	505	574	641	725	849	972	1,046
Stock-based compensation	37	34.3	40.9	48.6	68.6	78.2	72.7	51.9	58.7	91.5
Deferred income tax	12.4	-138	52.3	55.4	35	114	236	73.8	-30.4	-64.7
Change in payables	56.5	428	375	429	746	98.7	-195	36.9	303	185
Cash from operations	1,605	1,802	2,144	2,238	3,876	2,866	1,985	2,392	2,996	3,635
Capital expenditures	-560	-646	-734	-785	-1,028	-1,070	-1,561	-1,700	-1,310	-1,241
Cash from investing	-551	-645	-732	-782	-1,025	-1,066	-1,555	-1,694	-1,306	-1,237
Debt issued		600	499		1,494		2,296	1,498
Debt repaid			-577	-1.47	-4.64	-6.4	-911	-19.7
Share buybacks	-990	-580	-1,007	-1,200	-2,466	-2,550	-2,748
Dividends paid	-281	-283	-307	-328	-356	-392	-494	-518	-519	-520
Cash from financing	-1,024	-1,078	-1,444	-1,451	-1,715	-2,832	-392	-542	-1,294	-2,191
Net change in cash	30	79.5	-32	4.83	1,136	-1,032	36.7	156	395	206
Free cash flow	1,045	1,156	1,409	1,453	2,848	1,795	424	692	1,686	2,393
Interest paid	93	88.7	98	100	128	160	195	352	337	290
Income taxes paid	680	661	313	457	722	568	501	360	355	321

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 31, 2026; growth uses fiscal years. Valuation uses the share price of $124.84 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	31.2%	Gross profit / revenue.
Operating margin	5.6%	Operating income / revenue.
EBITDA margin	8.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	5.1%	Pre-tax income / revenue.
Net margin	3.9%	Net income / revenue.
FCF margin	4.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	7.6%	Cash from operations / revenue.
Effective tax rate	23.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	18.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.3%	Net income / average total assets.
Return on invested capital (ROIC)	15.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	25.6%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.0%	Capital expenditures / revenue.
D&A / revenue	2.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	4.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	4.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	9.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	3.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	4.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	28.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-12.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-9.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	21.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-7.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-4.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	34.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-14.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-10.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	34.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-13.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-8.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	21.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	22.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-1.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	41.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	78.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-3.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	2.4%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	10.4%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	14.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	15.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	5.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-0.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	2.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-2.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.21x	Current assets / current liabilities.
Quick ratio	0.22x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.22x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.49x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	14.2%	Total debt / total assets.
Liabilities / assets	71.1%	Total liabilities / total assets.
Net debt	$2.98B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.85x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$1.52B	Current assets - current liabilities.
Goodwill and intangibles / assets	17.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$3.75B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.36x	Revenue / average total assets.
Fixed asset turnover	6.59x	Revenue / average property, plant and equipment.
Inventory turnover	4.58x	Cost of revenue / average inventory.
Days inventory	80 days	365 x average inventory / cost of revenue.
Days payables	53 days	365 x average accounts payable / cost of revenue.
FCF conversion	118.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	39.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$7.69	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$197.01	Revenue / diluted weighted shares.
FCF per share	$9.08	Free cash flow / diluted weighted shares.
Operating cash flow per share	$14.97	Cash from operations / diluted weighted shares.
Book value per share	$41.93	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$16.93	Tangible book value / shares outstanding.
Cash per share	$7.18	(Cash + short-term investments) / shares outstanding.
Payout ratio	30.5%	Dividends paid / net income, when net income is positive.
Dividends / FCF	25.9%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$27.54B	Share price x shares outstanding.
Enterprise value	$30.52B	Market cap + total debt - cash - short-term investments.
P/E	16.2x	Market cap / net income. Only when net income is positive.
P/S	0.63x	Market cap / revenue.
P/B	2.96x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	7.34x	Market cap / tangible book value, when positive.
P/FCF	13.7x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	8.30x	Market cap / cash from operations, when positive.
EV/Sales	0.70x	Enterprise value / revenue.
EV/EBIT	12.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	8.66x	Enterprise value / EBITDA, when both are positive.
EV/FCF	15.2x	Enterprise value / free cash flow, when both are positive.
FCF yield	7.3%	Free cash flow / market cap.
Earnings yield	6.2%	Net income / market cap (the inverse of P/E).
Dividend yield	1.9%	Dividends paid over the period / market cap.
Shareholder yield	1.9%	(Dividends paid + share buybacks) / market cap.

What was DOLLAR GENERAL CORP's revenue in fiscal 2025?

DOLLAR GENERAL CORP reported revenue of $42.72B for fiscal 2025, 5.2% higher than the year before.

Was DOLLAR GENERAL CORP profitable in fiscal 2025?

Yes. Net income was $1.51B, a net margin of 3.5%.

How much free cash flow did DOLLAR GENERAL CORP generate in fiscal 2025?

Cash from operations of $3.63B minus capital expenditures of $1.24B left free cash flow of $2.39B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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