Compare · Consumer Staples
Dollar General vs. Dollar Tree: how they make money
The same facts for both companies, in the same order, from each company's own page and filings. This is not a ranking and says nothing about which share to own.
Each company in 5 points
Dollar General
1 · What it sells
Dollar General sells food, cleaning supplies and other everyday basics, typically priced at $10 or less, through 21,148 small stores (Jul 31, 2026), with net sales of $42.7 billion in FY2025.
Sources and detail on the Dollar General page2 · Who pays it
Shoppers, mainly low and fixed income households, paid for consumables (82.0% of FY2025 net sales), seasonal items (10.1%), home products (5.2%) and apparel (2.7%).
Sources and detail on the Dollar General page3 · What it keeps from $100
Of every $100 of FY2025 net sales, Dollar General kept $3.5 as net income and $5.2 as operating profit, after $69.3 for the goods it sold and $25.5 for running stores and the company.
Sources and detail on the Dollar General page4 · Where the operating profit comes from
Dollar General reports one segment and no profit by category, and says seasonal and home products carry its highest gross margins while consumables, 82.0% of FY2025 net sales, carry the lowest.
Sources and detail on the Dollar General page5 · The one thing to watch
Operating profit rose 29.2% to $769.2 million in Q2 FY2026, a quarter in which the company estimates tariff refunds added about 66 basis points to its 6.8% operating margin.
Sources and detail on the Dollar General page
Dollar Tree
1 · What it sells
Dollar Tree sells household basics, party goods, toys and seasonal items, starting at $1.25, through 9,436 stores in the US and Canada (Aug 1, 2026), with total revenue of $19.4 billion in FY2025.
Sources and detail on the Dollar Tree page2 · Who pays it
Shoppers paid for consumables such as food and household paper (48.6% of FY2025 net sales), variety goods such as toys and party supplies (45.7%) and seasonal goods (5.7%).
Sources and detail on the Dollar Tree page3 · What it keeps from $100
Of every $100 that came in during FY2025, Dollar Tree kept $6.3 as profit from continuing operations, a figure that includes an insurance gain of about $62 million, while its operating income was $8.5 per $100 of total revenue.
Sources and detail on the Dollar Tree page4 · Where the operating profit comes from
Dollar Tree reports one store segment, which earned $2,172.9 million of operating income in FY2025 before $519.8 million of corporate, support and other costs, and it reports no profit by merchandise category.
Sources and detail on the Dollar Tree page5 · The one thing to watch
The company attributes $1.31 of its $2.70 Q2 FY2026 diluted EPS to tariff refunds, and its Q3 FY2026 results are due on Nov 24, 2026.
Sources and detail on the Dollar Tree page
Where each $100 went
Each company's own receipt for its latest full fiscal year, with matching lines in the same order where both have them.
Dollar General
Where $100 went · FY2025
| Running stores and the company | $25.5 |
|---|---|
| Goods sold (cost of goods sold) | $69.3 |
| Interest and debt payoff loss | $0.6 |
| Income tax | $1.1 |
| Kept as net income | $3.5 |
| Total | $100 |
Cityfort calculation from the FY2025 10-K. Of every $100 of FY2025 net sales (no other income was reported): each line = line ÷ $42,724.4 million × 100.
Dollar Tree
Where $100 went · FY2025
| Running stores and the company | $28.0 |
|---|---|
| Goods sold (cost of sales) | $63.2 |
| Interest | $0.4 |
| Income tax | $2.1 |
| Kept as profit (continuing operations) | $6.3 |
| Total | $100 |
Cityfort calculation from the FY2025 10-K. Of every $100 that came in during FY2025 (total revenue of $19,411.8 million plus $116.8 million of transition services income and other income): each line = line ÷ $19,528.6 million × 100. Profit is income from continuing operations.
Line items differ because each company groups its costs its own way in its filings. Only on Dollar General's receipt: Goods sold (cost of goods sold); Interest and debt payoff loss; Kept as net income. Only on Dollar Tree's receipt: Goods sold (cost of sales); Interest; Kept as profit (continuing operations).
Revenue, net income and free cash flow
Up to five fiscal years for each company, drawn on one shared scale per measure. Amounts in US$ as reported (GAAP).
Revenue
Dollar General
Dollar Tree
See the numbers
Net income
Dollar General
Dollar Tree
See the numbers
Free cash flow
Dollar General
Dollar Tree
See the numbers
Who pays each company
Dollar General
- Shoppers buying consumables · 82.0% of revenueFood, paper and cleaning products, health and beauty items, pet supplies and tobacco: $35.1 billion in FY2025. The company's core customers are low and fixed income households.
- Shoppers buying seasonal items · 10.1% of revenueHoliday goods, toys, small electronics and similar items: $4.3 billion in FY2025.
- Shoppers buying home products · 5.2% of revenueKitchen, storage, bed and bath goods: $2.2 billion in FY2025.
- Shoppers buying apparel · 2.7% of revenueBasic clothing, shoes and diapers: $1.1 billion in FY2025.
Dollar Tree
- Shoppers buying consumables · 48.6% of revenueHousehold paper and cleaning products, food, candy, health and personal care items: $9.4 billion of net sales in FY2025.
- Shoppers buying variety goods · 45.7% of revenueToys, housewares, gifts, party goods, greeting cards and crafts: $8.9 billion in FY2025.
- Shoppers buying seasonal goods · 5.7% of revenueHoliday merchandise for Christmas, Easter, Halloween and Valentine's Day: $1.1 billion in FY2025.
Revenue by segment
Dollar General
FY2025
| Segment | Revenue | Share |
|---|---|---|
| Consumables | $35.1B | 82.0% |
| Seasonal | $4.3B | 10.1% |
| Home products | $2.2B | 5.2% |
| Apparel | $1.1B | 2.7% |
Dollar Tree
FY2025
| Segment | Revenue | Share |
|---|---|---|
| Consumable | $9.4B | 48.6% |
| Variety | $8.9B | 45.7% |
| Seasonal | $1.1B | 5.7% |
Debt and cash
Dollar General
- Debt
- $4.6B
- Cash and investments
- $1.6B
On Jul 31, 2026.
At Jul 31, 2026 Dollar General's debt exceeded its cash by $3.0 billion, less than its FY2025 cash from operations of $3.6 billion.
Dollar Tree
- Debt
- $2.9B
- Cash and investments
- $1.1B
On Aug 1, 2026.
At Aug 1, 2026 Dollar Tree's debt exceeded its cash by $1.9 billion, less than its FY2025 cash from continuing operations of $2.2 billion.
Sources: Dollar General S5, S8, S1, S4 · Dollar Tree S4, S9, S1, S21, S3
Who owns each company
Dollar General
- One class of shares.
- Officers and directors as a group: 0.6% of shares (as of Mar 19, 2026).
- Vanguard Capital Management LLC: 7.5% (as of Apr 29, 2026).
- BlackRock, Inc.: 6.9% (as of Apr 17, 2025).
- Vanguard Portfolio Management: 5.2% (as of Jul 31, 2026).
- 1 more holders on the Dollar General page.
Dollar Tree
- One class of shares.
- Officers and directors as a group: 7.1% of shares (as of Apr 17, 2026).
- FMR LLC (Fidelity): 13.0% (as of Aug 6, 2026).
- BlackRock, Inc.: 7.9% (as of Feb 7, 2024).
- Vanguard Capital Management: 7.1% (as of Apr 29, 2026).
Sources: Dollar General S16, S1, S26, S24, S28, S25 · Dollar Tree S17, S28, S4, S29, S34, S30, S31
Risks only one page tracks
Risks whose type the other company's page does not list. Both pages track risks of these types: legal cases, pricing, demand, debt, regulation. Every risk is on each company's page.
Dollar General
- New leadership team (execution)A new CEO is expected on Jan 1, 2027, following a new CFO, COO and Chairman since Oct 2025.
- Supplier concentration (customer or supplier concentration)The two largest suppliers were about 11% and 8% of purchases in FY2025.
Dollar Tree
- Obligations left from Family Dollar (other)Dollar Tree guarantees leases of 114 Family Dollar stores and indemnifies Family Dollar for certain pre-sale product cases, including talc and acetaminophen claims.
Sources: Dollar General S18, S20, S22, S19, S1 · Dollar Tree S1
Key facts
- How does Dollar General make money compared with Dollar Tree?
- Dollar General's revenue by segment in FY2025: Consumables 82.0%, Seasonal 10.1%, Home products 5.2%, Apparel 2.7%. Dollar Tree's revenue by segment in FY2025: Consumable 48.6%, Variety 45.7%, Seasonal 5.7%.
- Which is bigger by revenue, Dollar General or Dollar Tree?
- Dollar General reported $42.7B of revenue in FY2025, and Dollar Tree reported $19.4B in FY2025.
- How much net income did Dollar General and Dollar Tree report?
- Dollar General reported net income of $1.5B in FY2025, and Dollar Tree reported $1.2B in FY2025.
- How much of every $100 did Dollar General and Dollar Tree keep as net income?
- Dollar General kept $3.5 of every $100 that came in during FY2025, and Dollar Tree kept $6.3 in FY2025 (Cityfort calculation from each company's annual report).
- How much debt and cash do Dollar General and Dollar Tree have?
- Dollar General had $4.6B of debt and $1.6B of cash and investments on Jul 31, 2026. Dollar Tree had $2.9B of debt and $1.1B of cash and investments on Aug 1, 2026.
- When do Dollar General's and Dollar Tree's fiscal years end?
- Dollar General: Friday closest to Jan 31. Dollar Tree: Saturday closest to Jan 31.
Sources: Dollar General S3, S1, S5, S8, S4 · Dollar Tree S2, S1, S4, S9, S21, S3
Built from each company's page. Dollar General updated Nov 6, 2026; Dollar Tree updated Nov 7, 2026.
Sources
Dollar General
- S1Form 10-K for fiscal year 2025 (ended Jan 30, 2026), Dollar General Corporation (SEC EDGAR), Mar 20, 2026
- S3Form 10-K for fiscal year 2023 (ended Feb 2, 2024), Dollar General Corporation (SEC EDGAR), Mar 25, 2024
- S4Form 10-K for fiscal year 2022 (ended Feb 3, 2023, 53 weeks), Dollar General Corporation (SEC EDGAR), Mar 24, 2023
- S5Form 10-Q for Q2 fiscal 2026 (13 weeks ended Jul 31, 2026), Dollar General Corporation (SEC EDGAR), Aug 27, 2026
- S8Q2 fiscal 2026 earnings release (8-K Ex. 99, quarter ended Jul 31, 2026), Dollar General Corporation (SEC EDGAR), Aug 27, 2026
- S162026 proxy statement (DEF 14A), annual meeting May 28, 2026, Dollar General Corporation (SEC EDGAR), Apr 7, 2026
- S188-K filed Mar 24, 2026: CEO succession (Jerry W. Fleeman Jr. to succeed Todd Vasos), Dollar General Corporation (SEC EDGAR), Mar 24, 2026
- S198-K filed Feb 3, 2026: new Chairman; director retirement, Dollar General Corporation (SEC EDGAR), Feb 3, 2026
- S208-K filed Aug 20, 2025: Donny Lau appointed CFO, Dollar General Corporation (SEC EDGAR), Aug 20, 2025
- S228-K filed Nov 13, 2025: Emily Taylor appointed COO, Dollar General Corporation (SEC EDGAR), Nov 13, 2025
- S24Schedule 13G, Vanguard Capital Management LLC (7.51%, as of Mar 31, 2026), Vanguard Capital Management LLC (SEC EDGAR), Apr 29, 2026
- S25Schedule 13G, Vanguard Portfolio Management (5.24%, as of Jun 30, 2026), Vanguard Portfolio Management (SEC EDGAR), Jul 31, 2026
- S26Schedule 13G/A, The Vanguard Group (0 shares, as of Mar 13, 2026), The Vanguard Group (SEC EDGAR), Mar 26, 2026
- S28Schedule 13G/A, BlackRock, Inc. (6.9%, as of Mar 31, 2025), BlackRock, Inc. (SEC EDGAR), Apr 17, 2025
Dollar Tree
- S1Form 10-K for fiscal year 2025 (ended Jan 31, 2026), Dollar Tree, Inc. (SEC EDGAR), Mar 16, 2026
- S2Form 10-K for fiscal year 2024 (ended Feb 1, 2025), Dollar Tree, Inc. (SEC EDGAR), Mar 26, 2025
- S3Form 10-K for fiscal year 2023 (ended Feb 3, 2024, 53 weeks), Dollar Tree, Inc. (SEC EDGAR), Mar 20, 2024
- S4Form 10-Q for Q2 fiscal 2026 (13 weeks ended Aug 1, 2026), Dollar Tree, Inc. (SEC EDGAR), Aug 27, 2026
- S9Q2 fiscal 2026 earnings release (8-K Ex. 99.1, quarter ended Aug 1, 2026) with fiscal 2026 and Q3 outlook, Dollar Tree, Inc. (SEC EDGAR), Aug 27, 2026
- S172026 proxy statement (DEF 14A), annual meeting Jun 16, 2026, Dollar Tree, Inc. (SEC EDGAR), May 1, 2026
- S218-K filed Mar 23, 2026: $500 million term loan credit agreement, Dollar Tree, Inc. (SEC EDGAR), Mar 23, 2026
- S28Schedule 13D/A, Mantle Ridge LP (0.1% after the Jun 24, 2026 distribution and sale), Mantle Ridge LP (SEC EDGAR), Jun 25, 2026
- S29Schedule 13G/A, FMR LLC (13.0%, as of Jun 30, 2026), FMR LLC (SEC EDGAR), Aug 6, 2026
- S30Schedule 13G, Vanguard Capital Management (7.10%, as of Mar 31, 2026), Vanguard Capital Management (SEC EDGAR), Apr 29, 2026
- S31Schedule 13G/A, The Vanguard Group (0 shares after the Jan 12, 2026 realignment, as of Mar 13, 2026), The Vanguard Group (SEC EDGAR), Mar 26, 2026
- S34EDGAR filing list, Dollar Tree, Inc. (CIK 0000935703), U.S. Securities and Exchange Commission, Nov 7, 2026
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