Dollar General vs Dollar Tree: Revenue, Profit and Business Model
Dollar General reported $42.7B of revenue in FY2025 and $1.5B of net income. Dollar Tree reported $19.4B of revenue in FY2025 and $1.3B of net income.
Latest financial snapshot
Dollar General
- Latest revenue
- $42.7B (FY2025)
- Net income
- $1.5B
- Net margin
- 3.5%
- Revenue growth
- +4.1% a year, FY2022–FY2025
Dollar Tree
- Latest revenue
- $19.4B (FY2025)
- Net income
- $1.3B
- Net margin
- 6.6%
- Revenue growth
- +8.0% a year, FY2022–FY2025
Financial summary
Dollar General
Dollar General's FY2025 (ended January 30, 2026) showed a clear recovery. Net sales rose 5.2% to $42.7 billion, same-store sales grew 3.0%, and net income climbed to $1.51 billion after a weak FY2024 hurt by shrink, markdowns and $232 million of fourth-quarter impairment charges. Operating cash flow reached $3.6 billion, which funded $1.7 billion of senior note redemptions. The momentum continued in Q2 FY2026 (ended July 31, 2026): net sales grew 5.2% to $11.3 billion, same-store sales rose 3.5% on a 2.0% traffic gain, operating profit jumped 29.2% to $769.2 million and diluted EPS rose 33.3% to $2.48, including about $0.25 from tariff refunds. Management raised FY2026 guidance to 4.0%-4.3% net sales growth and diluted EPS of $7.80-$8.00, with up to $700 million of share buybacks and a $0.59 quarterly dividend.
Dollar Tree
Dollar Tree reported fiscal 2025 (year ended January 31, 2026) net sales of $19.41 billion from continuing operations, up 10%, with comparable store sales up 5.3% (ticket +4.3%, traffic +1.0%) and net income of $1.28 billion. Family Dollar is reported as a discontinued operation after its July 2025 sale for a base price of about $1.0 billion, following years of impairments on the $8.5 billion 2015 acquisition. Momentum continued in fiscal 2026: Q1 net sales grew 7.2% with comps up 3.5%, and Q2 (ended August 1, 2026) net sales rose 7.0% to $4.9 billion with comps up 3.7%. Q2 diluted EPS of $2.70 included a $1.31 benefit from IEEPA tariff refunds, and the company repurchased $605 million of stock in the quarter. Management raised fiscal 2026 adjusted EPS guidance to $7.70-$8.05, including about $0.60 of net tariff-refund benefit.
Revenue and profit by year
Dollar General
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $42.7B | $1.5B | 3.5% | +5.2% | Source |
| FY2024 | $40.6B | — | 0.0% | +5.0% | Source |
| FY2023 | $38.7B | — | 0.0% | +2.2% | Source |
| FY2022 | $37.8B | — | 0.0% | — | Source |
Dollar Tree
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $19.4B | $1.3B | 6.6% | +10.4% | Source |
| FY2024 | $17.6B | — | 0.0% | +4.8% | Source |
| FY2023 | $16.8B | — | 0.0% | +8.9% | Source |
| FY2022 | $15.4B | — | 0.0% | — | Source |
Where the revenue comes from
Dollar General
- Consumables~82%
Food, snacks, beverages, paper and cleaning products, health and beauty, pet supplies and tobacco. Consumables generated $18.16 billion of the $22.08 billion in net sales during the first half of fiscal 2026 and drive frequent trips.
- Seasonal~10%
Holiday items, toys, batteries, small electronics, greeting cards, lawn and garden goods. Seasonal sales grew 6.7% to $2.27 billion in the first half of fiscal 2026.
- Home products~5%
Kitchen supplies, small appliances, bedding, home decor and storage. Home products sales were $1.06 billion in the first half of fiscal 2026.
- Apparel~3%
Basic clothing, socks, underwear and shoes. Apparel sales rose 5.6% to $590 million in the first half of fiscal 2026.
Dollar Tree
- Dollar Tree Store SalesPrimary
Revenue from Dollar Tree stores selling consumables, seasonal merchandise, party supplies, household goods, health and beauty care, snacks, and other low-price products.
- Multi-Price Merchandise
Growth driver
Sales from expanded $3, $5, $7, and higher price-point items that broaden assortment and support larger baskets.
- Delivery and Digital PartnershipsEmerging
Incremental sales from delivery partnerships and digital channels, including broad store serviceability through Uber Eats by the end of fiscal 2025.
Business model and strategy
Dollar General
How it makes money
Dollar General earns nearly all of its revenue from in-store retail sales. Its model rests on three choices: small leased stores (typically around 7,500 square feet of selling space) that cost far less to build and run than a supercenter; a narrow assortment of fast-turning consumables, which made up about 82% of first-half FY2026 sales;
Growth strategy
Rather than chase store count, Dollar General now spends most of its real estate budget on existing stores. Its FY2026 plan calls for about 4,730 real estate projects: roughly 450 new U.S. stores, 10 new stores in Mexico, 2,000 full remodels under Project Renovate, 2,250 lighter refreshes under Project Elevate and 20 relocations.
Competitive advantage
Dollar General's edge is proximity at low cost. Its stores sit close to a large share of the U.S. population, often in towns where the nearest supercenter is a long drive away, so a shopper can save time and fuel by buying basics nearby. Small leased boxes keep occupancy and build costs low, a dense distribution network and private fleet support frequent deliveries, and private brands lift margins.
Dollar Tree
How it makes money
Dollar Tree makes money by selling high volumes of low-ticket merchandise through roughly 9,400 small-box stores in the United States and Canada. The assortment mixes consumables (snacks, beverages, cleaning and paper goods, health and beauty) with higher-margin discretionary goods such as seasonal decor, party supplies, crafts, toys and housewares.
Growth strategy
Growth now comes from three levers. First, converting stores to the multi-price format: about 710 stores were converted or added in Q2 fiscal 2026, bringing the total to roughly 6,600. Second, new units: 75 Dollar Tree stores opened in Q2 fiscal 2026 alone.
Competitive advantage
Dollar Tree's edge is a combination of brand recognition, price-point simplicity and buying scale. Its $1.25 anchor price still signals value, its direct-import program and seasonal buying calendar let it design products to hit specific price points, and a dense network of convenient strip-center stores keeps trips short.
Questions about Dollar General vs Dollar Tree
Which company has higher revenue — Dollar General Corporation or Dollar Tree, Inc.?
Dollar General Corporation reported $42.7B (FY2025), while Dollar Tree, Inc. reported $19.4B (FY2025). By last reported revenue, Dollar General Corporation is the larger business, with Dollar Tree, Inc. reporting a smaller revenue base.
What is the market cap of Dollar General Corporation vs Dollar Tree, Inc.?
Dollar General Corporation's market capitalisation stands at $27.0B, while Dollar Tree, Inc.'s is $21.4B. Dollar General Corporation carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Dollar Tree, Inc..
Which is more financially efficient — Dollar General Corporation or Dollar Tree, Inc.?
Dollar General Corporation generates $220k / employee in revenue per employee, while Dollar Tree, Inc. generates $127k / employee. Dollar General Corporation shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Dollar General Corporation and Dollar Tree, Inc. make money?
Dollar General Corporation and Dollar Tree, Inc. generate revenue in fundamentally different ways. Dollar General Corporation: Dollar General earns nearly all of its revenue from in-store retail sales. Dollar Tree, Inc.: Dollar Tree makes money by selling high volumes of low-ticket merchandise through roughly 9,400 small-box stores in the United States and Canada.
Which company is valued higher relative to revenue — Dollar General Corporation or Dollar Tree, Inc.?
On a price-to-sales (P/S) basis, Dollar General Corporation trades at 0.6x P/S and Dollar Tree, Inc. at 1.1x P/S. Dollar Tree, Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Dollar General Corporation. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Dollar General Corporation bigger than Dollar Tree, Inc.?
By last reported revenue, Dollar General Corporation ($42.7B (FY2025)) is the larger company compared to Dollar Tree, Inc. ($19.4B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Dollar General vs Dollar Tree overview