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Dollar Tree (DLTR) stock

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NASDAQ: DLTR Nasdaq Consumer Staples Merchandise Retail Next results ~December 2, 2026

C+ Fundamentals grade

Dollar Tree is a US discount variety retailer trading under the Dollar Tree banner. It sells general merchandise and consumer products, including privately sourced and own-brand ('control brand') items, through a nationwide chain of stores supplied by its own distribution centres. The company has recently moved from a single fixed price point to a broader multi-price assortment, while keeping value as its core offer.

Customers are everyday retail shoppers who buy in-store; the company earns money through direct retail sales, accepting cash, debit and credit cards (it is classed as a Level 1 Merchant under payment card industry rules) and government benefit payments such as SNAP for eligible items. It does not rely on subscription, licensing or advertising income.

Following the 2025 sale of its former Family Dollar business, Dollar Tree now operates as a single standalone banner, with the Dollar Tree stores and associated distribution and transportation network making up substantially all of its retail operations. Its workforce is non-unionised, and the business operates across a geographically diverse store and distribution footprint within the United States.

Based on Dollar Tree's 10-K filed March 16, 2026.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$160

Cash-flow model

Base case. Range ~$120–$210 across our lower- and higher-growth cases (2.6%–12.6% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 12% below our base value.

Price used: $138.60, November 2, 2026

Dollar Tree valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Dollar Tree files

Where Dollar Tree stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $20.1bn, up 8.2% on a year earlier, slower than 9.4% a quarter earlier. Free-cash-flow margin rose to 9.9% from 3.8% a year earlier. Operating margin widened to 11.0% from 8.0%. The diluted share count is down 7.1% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B+. It passes 2 of our 6 financial-health checks. Our cash-flow model value is $158 a share, against a share price of $124. At that price, our model says the market is pricing in about 3.8% a year of cash-flow growth for five years, faster than the -5.3% a year revenue growth it has delivered.

Source: 10-Q filed August 27, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 2, 2026 (estimated)

Dollar Tree's trailing-twelve-month revenue grew 8.2% year on year, with a free-cash-flow margin of 9.9%. Where it stands out: change in share count of -7.1% ranks 1 of 9 consumer staples merchandise retail companies we cover. Where it lags: change in growth rate of -1.2pp ranks 9 of 9 consumer staples merchandise retail companies we cover.

Our discounted-cash-flow model values the business at ~$160 per share in the base case (~$120–$210 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 136% in the quarter to 2026-07-31, the 4th beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 7.1% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Insiders selling. 4 insiders sold $249M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Below peers: change in growth rate. Change in growth rate of -1.2pp ranks 9 of 9 consumer staples merchandise retail companies we cover (median +0.9pp).
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 20.9% ranks 7 of 8 consumer staples merchandise retail companies we cover (median 12.4%).
  • Short interest rising. Shares sold short rose 35% in a month to 6.5% of tradable shares.
  • Earnings expected to fall. The consensus expects earnings per share to fall 0% next year.

Latest results: FY2027 Q2

Filed August 27, 2026
Earnings per share
$2.70 against an average estimate of $1.14: beat by 136.1%
Revenue
$4.89bn, up 7.0% on a year earlier
Share reaction
-3.0% in the first session after the results on August 27, 2026, against +0.4% for the S&P 500
Guidance given
net sales from continuing operations $20.5bn to $20.7bn (Fiscal 2026); comparable store net sales growth growth 3% to 4% (Fiscal 2026)
Next report
August 27, 2026; average EPS estimate $0.92

Dollar Tree's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.5%
  • 1 week+11.0%
  • 1 month+23.6%
  • This year+12.7%
  • 1 year+39.8%
  • 5 years+22.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$20.1B
Operating margin
11.0%
Net margin
8.0%
EPS (TTM, diluted)
$8.15

Growth

Revenue growth
+8.2%
Change in growth rate
−1.2 pts
Share count change
−7.1%

Cash

Free cash flow (TTM)
$2B
FCF margin
9.9%
Stock pay % of revenue
0.3%

Earnings

Last results
August 27, 2026
Next results (est.)
December 2, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Governance
  3. Results
  4. Guidance
  5. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Dollar Tree valuation models and calculator

What the price is pricing in

The share price implies about 4.8% a year of cash-flow growth for five years.That is faster than the -5.3% a year revenue growth Dollar Tree has delivered.

  • Priced in4.8%
  • Last 12 months8.2%
  • 3 years a year7.0%
  • 5 years a year-5.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($135.89, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$160
Price used
$135.89close November 3, 2026
Implied change
▲ +16%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Dollar Tree's free cash flow after stock-based pay with after-tax interest added back ($1.4B, FY2027 Q2 TTM), growing 6.5% and 7% in the next two years (forecasts, guidance and its record), then back to 7.6% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$120–~$210 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Dollar Tree's free cash flow after stock-based pay ( $1.4B, FY2027 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Dollar Tree as an operating company, with every model that fits that kind of business. Cost of equity 7.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.53 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$160 ~$120–$210 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$180 ~$140–$280 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$7.1 ~$3.8–$13 Left out: out of range vs price (0.05x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity below long-run growth
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$160 ~$160–$180 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Dollar Tree with Consumer Staples Merchandise Retail in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −26%
  • Revenue growth 5 points higher ▲ +34%
  • Free-cash-flow margin 1 point lower ▼ −11%
  • Last year's free-cash-flow margin change, if it persists ▲ more than doubles
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $98$136$187$255$342$456
8.5% $73$100$137$185$248$328
10% $57$79$107$144$192$253

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$81.32$74.05$108.83$96.69$87.07$101.66$128.49$150.37$138.71$73.35$117.59$138.60
Market value$18.2bn$17.5bn$25.9bn$23.0bn$20.7bn$24.1bn$29.4bn$33.7bn$30.5bn$15.8bn$24.3bn$27.4bn
+ Net debt (− = net cash)−$736m−$866m−$1.1bn−$422m−$539m−$1.4bn−$985m−$643m−$425m−$1.3bn−$718m$1.9bn
Enterprise value$17.4bn$16.7bn$24.8bn$22.6bn$20.2bn$22.7bn$28.4bn$33.1bn$30.1bn$14.6bn$23.5bn$29.3bn
Multiples
Price / sales 1.2x0.8x1.2x1.0x0.9x0.9x1.1x2.2x1.8x0.9x1.2x1.4x
Price / earnings 64.4x19.6x15.1x—25.1x18.0x22.2x20.9x——18.9x17.0x
Price / free cash flow 56.4x15.8x29.5x24.2x24.8x13.3x71.7x34.5x20.5x17.7x23.0x13.9x
EV / EBITDA 11.3x7.1x9.5x—10.6x8.8x11.3x13.4x13.8x7.3x10.2x—

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

46 /100

Moderate moat

How hard Dollar Tree's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 8 / 20

    Net income has been a median 5.8% of total assets over 10 years.

  • Pricing power 10 / 20

    Gross margin has been a median 30.7%, moving by 3.6 percentage points (standard deviation) across 10 years.

  • Durability 1 / 20

    Operating margin has been a median 8.1%; its worst year was -4.7%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 10 of 10 years, at a median 5.0% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 15.6% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (51 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $7.93 +38% $20.7bn +7%
Next $7.89 −0% $21.9bn +6%

Next year's EPS estimate has moved +2.8% in 90 days, across 29 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +13.8% on 90 days ago. In the last 30 days, 2 analysts raised Dollar Tree's forecast and 1 cut it.

Consensus EPS forecast Dollar Tree, last 90 days
$6.50 $7.00 $7.50 $8.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $6.97 Current fiscal year, 60 days ago: $7.04 Current fiscal year, 30 days ago: $7.89 Current fiscal year, 7 days ago: $7.93 Current fiscal year, Now: $7.93 $7.93 Next fiscal year, 90 days ago: $7.68 Next fiscal year, 60 days ago: $7.74 Next fiscal year, 30 days ago: $7.91 Next fiscal year, 7 days ago: $7.91 Next fiscal year, Now: $7.89 $7.89

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $6.97$7.68
60 days ago $7.04$7.74
30 days ago $7.89$7.91
7 days ago $7.93$7.91
Now $7.93$7.89

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $1.14 $2.70 +136.1%
Apr 2026 $1.54 $1.74 +12.9%
Jan 2026 $2.53 $2.56 +1.1%
Oct 2025 $1.08 $1.21 +11.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 27, 2026
  • Net sales from continuing operations Fiscal 2026 $20.5bn to $20.7bn
    “Net sales from continuing operations of $20.5 billion to $20.7 billion, based on comparable store net sales growth of 3% to 4%” source
  • Net sales from continuing operations Third Quarter 2026 $5bn to $5.1bn
    “Net sales from continui ng operations of $5.0 to $5.1 billion, based on comparable store net sales growth in the range of 3.0% to 4.0%.” source
  • adjusted EPS fiscal 2026 $7.70 to $8.05 Non-GAAP Raised
    “Increasing fiscal 2026 adjusted EPS outlook to a range of $7.70 to $8.05 including an approximate $0.60 benefit related to the net impact of tariff refunds” source
  • adjusted EPS Q3 fiscal 2026 $0.80 to $0.95 Non-GAAP
    “Q3 fiscal 2026 outlook of 3% to 4% comparable net sales growth and adjusted EPS of $0.80 to $0.95 including a $0.50 impact related to tariff refund reinvestments” source
  • comparable store net sales growth Fiscal 2026 3% growth to 4% growth
    “Net sales from continuing operations of $20.5 billion to $20.7 billion, based on comparable store net sales growth of 3% to 4%” source
  • comparable store net sales growth Third Quarter 2026 3% growth to 4% growth
    “Net sales from continui ng operations of $5.0 to $5.1 billion, based on comparable store net sales growth in the range of 3.0% to 4.0%.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Dollar Tree's revenue by +6.5% next year and +7.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+6.3%, weight 57%) , management guidance (+5.8%, weight 18%) and the company's own record (+7.6%, weight 25%) . How the weights are set.

Analyst recommendations

29 analysts, Oct 2026
Buy1138%
Hold1448%
Sell414%

Monthly trend

  1. Oct 20263814329
  2. Sep 20263715228
  3. Aug 20263715228
  4. Jul 202647132228

Counts of recommendations published by analysts covering Dollar Tree, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.5%
of tradable shares
Days to cover
3.87
at average volume
Short interest, 1 month
+35%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.2%
of shares
Employees
150,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +39.8%

$99.12 on October 31, 2025 to $138.60

ThenNowEffect
Revenue (last 12 months) $18.5bn $20.1bn +8.2%
P/S multiple 1.1x 1.4x +20.1%
Share count 213m 198m +7.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +19.1%

$116.35 on November 3, 2023 to $138.60

ThenNowEffect
Revenue (last 12 months) $16.4bn $20.1bn +22.4%
Net margin 7.4% 8.0% +8.1%
P/E multiple 21.2x 17.0x −19.7%
Share count 222m 198m +12.0%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
DLTR+30%+1%+0%−47%+64%+13%
Industry peers (median)+23%−9%+7%+34%+9%+23%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
DLTR67%50%58%25%67%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
DLTR−29%−27%−36%−59%−27%−39%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 65% from April 20, 2022 to November 11, 2024. Getting back needed a 184% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$86.80 – $141.21
From 52-week high
−1.8%
vs 50-day average
+13.7%
vs 200-day average
+18.8%
Volatility (1 year)
42%
Beta vs S&P 500
0.60

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±8.8%
After a week
5 up, 7 down
typical move ±9.3%
After a month
6 up, 6 down
typical move ±15.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 27, 2026 −3.0% +0.4% −0.9% −12.2%
May 28, 2026 +21.5% +0.8% +14.0% +27.9%
March 16, 2026 +4.1% +1.3% +0.8% −5.7%
December 3, 2025 +6.3% +0.4% +14.0% +18.0%
September 3, 2025 −10.0% +1.4% −11.2% −19.0%
June 4, 2025 −0.1% −0.5% −2.6% +7.8%
March 26, 2025 +14.6% −1.5% +15.5% +20.0%
December 4, 2024 +0.1% +0.5% −1.2% +5.7%
September 4, 2024 −16.1% −0.4% −18.5% −15.4%
June 5, 2024 −6.6% +1.2% −9.5% −11.3%
March 13, 2024 −16.3% −0.4% −14.4% −16.4%
November 29, 2023 +6.5% +0.3% +8.6% +22.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Dollar Tree’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.49× the last 60 days’ realised volatility .
  • Calls are priced 6 points richer than puts (25-delta): demand for upside is high, which favours selling calls over puts.
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Dollar Tree in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Dollar Tree
$15B $20B $25B $30B FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue (TTM), FY24 Q3: $16.8B Revenue (TTM), FY24 Q4: $26.9B Revenue (TTM), FY25 Q1: $23.8B Revenue (TTM), FY25 Q2: $20.5B Revenue (TTM), FY25 Q3: $17.5B Revenue (TTM), FY25 Q4: $17.6B Revenue (TTM), FY26 Q1: $18B Revenue (TTM), FY26 Q2: $18.5B Revenue (TTM), FY26 Q3: $19B Revenue (TTM), FY26 Q4: $19.4B Revenue (TTM), FY27 Q1: $19.7B Revenue (TTM), FY27 Q2: $20.1B $20.1B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q3 $16.8B
FY24 Q4 $26.9B
FY25 Q1 $23.8B
FY25 Q2 $20.5B
FY25 Q3 $17.5B
FY25 Q4 $17.6B
FY26 Q1 $18B
FY26 Q2 $18.5B
FY26 Q3 $19B
FY26 Q4 $19.4B
FY27 Q1 $19.7B
FY27 Q2 $20.1B
Revenue growth, TTM YoY Dollar Tree
-50% 0% 50% 100% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue growth, TTM YoY, FY24 Q3: -39.5% Revenue growth, TTM YoY, FY24 Q4: 74.7% Revenue growth, TTM YoY, FY25 Q1: 50.1% Revenue growth, TTM YoY, FY25 Q2: 25.2% Revenue growth, TTM YoY, FY25 Q3: 4.6% Revenue growth, TTM YoY, FY25 Q4: -34.7% Revenue growth, TTM YoY, FY26 Q1: -24.1% Revenue growth, TTM YoY, FY26 Q2: -9.6% Revenue growth, TTM YoY, FY26 Q3: 8.1% Revenue growth, TTM YoY, FY26 Q4: 10.4% Revenue growth, TTM YoY, FY27 Q1: 9.4% Revenue growth, TTM YoY, FY27 Q2: 8.2% 8.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q3 -39.5%
FY24 Q4 74.7%
FY25 Q1 50.1%
FY25 Q2 25.2%
FY25 Q3 4.6%
FY25 Q4 -34.7%
FY26 Q1 -24.1%
FY26 Q2 -9.6%
FY26 Q3 8.1%
FY26 Q4 10.4%
FY27 Q1 9.4%
FY27 Q2 8.2%
Operating margin (TTM) Dollar Tree
6% 8% 10% 12% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Operating margin (TTM), FY24 Q3: 8.9% Operating margin (TTM), FY24 Q4: 6.6% Operating margin (TTM), FY25 Q1: 7.3% Operating margin (TTM), FY25 Q2: 8.1% Operating margin (TTM), FY25 Q3: 9.7% Operating margin (TTM), FY25 Q4: 8.3% Operating margin (TTM), FY26 Q1: 8.1% Operating margin (TTM), FY26 Q2: 8.0% Operating margin (TTM), FY26 Q3: 7.9% Operating margin (TTM), FY26 Q4: 8.5% Operating margin (TTM), FY27 Q1: 8.8% Operating margin (TTM), FY27 Q2: 11.0% 11.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q3 8.9%
FY24 Q4 6.6%
FY25 Q1 7.3%
FY25 Q2 8.1%
FY25 Q3 9.7%
FY25 Q4 8.3%
FY26 Q1 8.1%
FY26 Q2 8.0%
FY26 Q3 7.9%
FY26 Q4 8.5%
FY27 Q1 8.8%
FY27 Q2 11.0%
FCF margin (TTM) Dollar Tree
0% 5% 10% 15% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 FCF margin (TTM), FY24 Q3: 7.6% FCF margin (TTM), FY24 Q4: 5.5% FCF margin (TTM), FY25 Q1: 6.2% FCF margin (TTM), FY25 Q2: 8.2% FCF margin (TTM), FY25 Q3: 12.3% FCF margin (TTM), FY25 Q4: 5.1% FCF margin (TTM), FY26 Q1: 3.6% FCF margin (TTM), FY26 Q2: 3.8% FCF margin (TTM), FY26 Q3: 1.0% FCF margin (TTM), FY26 Q4: 5.4% FCF margin (TTM), FY27 Q1: 6.7% FCF margin (TTM), FY27 Q2: 9.9% 9.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 7.6%
FY24 Q4 5.5%
FY25 Q1 6.2%
FY25 Q2 8.2%
FY25 Q3 12.3%
FY25 Q4 5.1%
FY26 Q1 3.6%
FY26 Q2 3.8%
FY26 Q3 1.0%
FY26 Q4 5.4%
FY27 Q1 6.7%
FY27 Q2 9.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Dollar Tree took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $19.4B
  2. Cost of revenue $12.3B · 63.6%
  3. Gross profit $7.1B · 36.3%
  4. Selling, general and admin $5.5B · 28.2%
  5. Operating income $1.7B · 8.5%
  6. Income tax $404M · 2.1%
  7. Net income $1.3B · 6.6%

Shares of revenue. Source: Dollar Tree's 10-K for FY2026, as filed with the SEC.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jan 2010 2011 Jan 2011 2012 Jan 2012 2013 Feb 2013 2014 Feb 2014 2015 Jan 2015 2016 Jan 2016 2017 Jan 2017 2018 Feb 2018 2019 Feb 2019 2020 Feb 2020 2021 Jan 2021 2022 Jan 2022 2023 Jan 2023 2024 Feb 2024 2025 Feb 2025 2026 Jan 2026 LTM Aug 2026
Income
Revenue 5.2 5.9 6.6 7.4 7.8 8.6 15.5 20.7 22.2 22.8 23.6 25.5 26.3 15.4 16.8 17.6 19.4 20.1
Gross profit 1.9 2.1 2.4 2.7 2.8 3.0 4.7 6.4 7.0 6.9 7.0 7.8 7.7 5.8 6.0 6.3 7.1 7.8
EBITDA 0.7 0.8 0.9 1.1 1.2 1.2 1.5 2.3 2.6 −0.3 1.9 2.6 2.5 2.5 2.2 2.0 2.3 —
Operating income 0.5 0.6 0.8 0.9 1.0 1.0 1.0 1.7 2.0 −0.9 1.3 1.9 1.8 2.1 1.8 1.5 1.7 2.2
Net income 0.3 0.4 0.5 0.6 0.6 0.6 0.3 0.9 1.7 −1.6 0.8 1.3 1.3 1.6 −1.0 −3.0 1.3 1.6
Diluted EPS $1.19 $1.55 $2.01 $2.68 $2.72 $2.90 $1.26 $3.78 $7.21 −$6.69 $3.47 $5.65 $5.80 $7.21 −$4.54 −$14.03 $6.22 $8.15
Growth (year on year)
Revenue +12.6% +12.4% +12.7% +11.5% +6.0% +9.7% +80.2% +33.7% +7.4% +2.6% +3.5% +8.0% +3.2% −41.4% +8.9% +4.8% +10.4% +8.2%
EBITDA +27.1% +17.8% +19.8% +15.8% +6.0% +7.3% +23.4% +52.4% +11.4% −112.2% — +35.0% −1.8% −2.5% −11.8% −8.6% +15.7% —
Operating income +40.2% +22.9% +24.1% +17.6% +5.5% +7.2% +0.9% +62.4% +17.3% −147.0% — +49.6% −4.1% +15.9% −15.5% −17.6% +13.1% +48.8%
Net income +39.7% +24.0% +22.9% +26.8% −3.6% +0.4% −52.9% — +91.3% −192.8% — +62.3% −1.0% +21.7% −161.8% — — —
Diluted EPS +40.2% +30.8% +29.7% +33.3% +1.5% +6.6% −56.6% — +90.7% −192.8% — +62.8% +2.7% +24.3% −163.0% — — —
Margins
Gross margin 35.5% 35.5% 35.9% 35.9% 35.6% 35.3% 30.0% 30.9% 31.6% 30.4% 29.8% 30.5% 29.4% 37.5% 35.8% 35.7% 36.3% 38.7%
EBITDA margin 12.8% 13.4% 14.3% 14.8% 14.8% 14.5% 9.9% 11.3% 11.7% −1.4% 8.1% 10.1% 9.6% 16.0% 13.0% 11.3% 11.9% —
Operating margin 9.8% 10.7% 11.8% 12.4% 12.4% 12.1% 6.8% 8.2% 9.0% −4.1% 5.3% 7.4% 6.9% 13.6% 10.6% 8.3% 8.5% 11.0%
Net margin 6.1% 6.8% 7.4% 8.4% 7.6% 7.0% 1.8% 4.3% 7.7% −7.0% 3.5% 5.3% 5.0% 10.5% −5.9% −17.2% 6.6% 8.0%
Free-cash-flow margin 8.0% 5.8% 6.6% 5.0% 5.9% 7.2% 2.1% 5.4% 3.9% 4.2% 3.5% 7.1% 1.6% 6.3% 8.9% 5.1% 5.4% 9.9%
Cash flow
Cash from operations 0.6 0.5 0.7 0.7 0.8 0.9 0.8 1.7 1.5 1.8 1.9 2.7 1.4 1.6 2.7 2.2 2.2 3.1
Capital spending 0.2 0.2 0.3 0.3 0.3 0.3 0.5 0.6 0.6 0.8 1.0 0.9 1.0 0.6 1.2 1.3 1.1 1.1
Free cash flow 0.4 0.3 0.4 0.4 0.5 0.6 0.3 1.1 0.9 0.9 0.8 1.8 0.4 1.0 1.5 0.9 1.1 2.0
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Free cash flow after stock pay 0.4 0.3 0.4 0.3 0.4 0.6 0.3 1.0 0.8 0.9 0.8 1.7 0.3 0.9 1.4 0.8 1.0 1.9
Balance sheet
Cash 0.6 0.3 0.3 0.4 0.3 0.9 0.7 0.9 1.1 0.4 0.5 1.4 1.0 0.6 0.4 1.3 0.7 1.1
Total debt — — — — — — — — — — — — — — — — — 2.9
Net debt (negative = net cash) −0.6 −0.3 −0.3 −0.4 −0.3 −0.9 −0.7 −0.9 −1.1 −0.4 −0.5 −1.4 −1.0 −0.6 −0.4 −1.3 −0.7 1.9
Diluted shares 270m 256m 242m 231m 219m 207m 224m 237m 238m 238m 238m 237m 229m 224m 220m 216m 206m 198m
Returned to shareholders
Buybacks 0.2 0.4 0.6 0.3 1.1 0.0 0.0 — 0.0 0.0 0.2 0.4 1.0 0.6 0.5 0.4 1.5 1.8
Total returned 0.2 0.4 0.6 0.3 1.1 0.0 0.0 — 0.0 0.0 0.2 0.4 1.0 0.6 0.5 0.4 1.5 1.8

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · August 1, 2026
What it owns · $14.0bn
Short-term assets $3.7bnLonger-term assets $10.3bn
What it owes, and who funded it · $14.0bn
Short-term liabilities $3.3bnLonger-term liabilities $7.3bnShareholders' equity $3.4bn
  • Short-term assets cover short-term liabilities $3.7bn of assets due within a year against $3.3bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.7bn short-term assets against $7.3bn of longer-dated liabilities.
  • More cash than debt $1.1bn of cash against $2.9bn of debt.
  • Debt below 40% of shareholders' equity Debt is 86% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 44% to 86% over five years.
  • A year's operating cash flow covers at least 20% of debt $3.1bn of operating cash flow against $2.9bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Dollar Tree's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q2 TTM
Buybacks (TTM)
$1.8B
Returned to shareholders
93%
of free cash flow
Buybacks, last 3 fiscal years
$2.4B
Diluted share count
−7.1%
year over year
Total shareholder yield
7.0%
dividends 0.0% + buybacks 7.0% of market value
Sales & admin spending
28.2%
of revenue

Competitors: side by side with peers

Closest by revenue in consumer staples merchandise retail
Last 12 months unless stated DLTR BJ DG PSMT TBBB CART Median
Revenue, last 12 months $20.1bn $22.8bn $43.6bn $5.9bn $4.1bn $4.0bn $22.8bn
Revenue growth, last 12 months 8.2% 9.1% 4.8% 11.5% 29.2% 12.6% 9.1%
Revenue growth, 3-year average 7.0% 5.5% 4.0% 10.0% — 11.3% 6.3%
Revenue growth, latest quarter 7.0% 15.7% 5.2% 13.9% — 14.1% 9.1%
Gross margin 38.7% 18.2% 31.2% 17.7% 16.2% 72.6% 25.2%
Operating margin 11.0% 3.8% 5.6% 4.4% −0.9% 14.7% 4.4%
Operating margin, 3-year average 9.0% 3.8% 5.1% 4.5% — −13.1% 4.4%
Net margin 8.0% 2.6% 3.9% 2.8% −3.6% 12.0% 3.0%
Cash from operations / revenue 15.5% 4.9% 7.6% 5.2% 6.0% 30.9% 6.0%
Free-cash-flow margin 9.9% 1.6% 4.6% 1.6% 1.4% 29.5% 3.1%
Free-cash-flow margin, 3-year average 7.3% 1.6% 4.4% 1.5% — 23.6% 3.4%
Stock pay / revenue 0.3% 0.2% 0.2% 0.4% 3.7% 10.1% 0.3%
Change in share count −7.1% −2.2% 0.5% 0.6% 5.3% −5.7% −0.5%

Median of all 9 companies we cover in consumer staples merchandise retail. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

9 consumer staples merchandise retail companies
Measure Company Peer median Rank
Revenue growth Growth 8.2% 9.1% 6 of 9
Change in growth rate Growth -1.2pp +0.9pp 9 of 9
Gross margin Profitability 38.7% 25.2% 2 of 9
Operating margin Profitability 11.0% 4.4% 2 of 9
Net margin Profitability 8.0% 3.0% 2 of 9
Free-cash-flow margin Cash generation 9.9% 3.1% 2 of 9
Stock pay as % of revenue Cash generation 0.3% 0.3% 5 of 8
Long-term debt as % of assets Balance sheet 20.9% 12.4% 7 of 8
Change in share count Balance sheet -7.1% -0.5% 1 of 9

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to January 31, 2026
Products and services
Line of business Revenue Share YoY
Consumable $9.4B 48.6% ▲ 9.9%
Variety $8.9B 45.7% ▲ 11.5%
Seasonal $1.1B 5.7% ▲ 6.0%

From Dollar Tree's 10-K filed March 16, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$23.6B
Institutions reporting
860
Shares held vs prior quarter
▼ 5.3%
Positions opened / closed
105 / 101

Top buyers and sellers, Q2 2026: 396 institutions bought and 420 sold ; the biggest buyer was FMR LLC (+5.5M shares) and the biggest seller Mantle Ridge LP (−12.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $3B 25.0M 12.8% ▲ 28.0%
Blackrock, Inc. $1.9B 15.9M 8.1% ▲ 0.7%
Vanguard Capital Management LLC $1.4B 11.9M 6.1% ▼ 2.2%
Edgepoint Investment Group Inc. $1.2B 9.6M 4.9% ▲ 15.4%
State Street Corp $1.1B 8.9M 4.6% ▼ 2.1%
Vanguard Portfolio Management LLC $1B 8.4M 4.3% ▼ 1.7%
T. Rowe Price Investment Management, Inc. $623M 5.2M 2.6% ▼ 16.0%
Geode Capital Management, LLC $602M 5.0M 2.5% ▼ 1.0%
Goldman Sachs Group Inc $518M 4.3M 2.2% ▲ 49.3%
Primecap Management Co $456M 3.8M 1.9% ▲ 1.1%
Invesco Ltd. $425M 3.5M 1.8% ▲ 8.0%
Jane Street Group, LLC $379M 3.1M 1.6% ▲ 24522.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Dollar Tree's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $249M 5 trades by 4 insiders · 0% under pre-set plans
Net ▼ $249M net selling
Insider Date Trade Shares Price Value
Stahl Stephanie Director September 4, 2026 Sell 1,185 $131.47 $155,792
Aflatooni Robert Chief Information Officer August 31, 2026 Sell 2,500 $126.01 $315,025
Mantle Ridge Lp 10% owner June 24, 2026 Sell 2,230,455 $111.31 $248M
Aflatooni Robert Chief Information Officer January 7, 2026 Sell 175 $131.18 $22,956
Beebe Brent A. Chief Merchandising Officer December 8, 2025 Sell 2,200 $124.65 $274,230

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 46 trades and filings

In the last 12 months, 2 members of Congress disclosed 0 purchases and 3 sales of Dollar Tree shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (full), $15,001 - $50,000, traded August 19, 2026, filed September 10, 2026
  • Josh Gottheimer(D-NJ 5):Sale (full), $1,001 - $15,000, traded April 9, 2026, filed May 19, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded January 28, 2026, filed February 13, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around December 2, 2026 estimated from the company's past filing pattern, not announced

  • August 27, 2026
  • May 28, 2026
  • March 16, 2026
  • December 3, 2025
  • September 3, 2025
  • June 4, 2025

Recent SEC filings

Data status

When each part of this page on Dollar Tree was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Dollar Tree in brief

What does Dollar Tree do?
Dollar Tree is a US-listed company in the consumer staples merchandise retail industry. Its financial year ends in January.
What is Dollar Tree's stock ticker?
Dollar Tree trades under the ticker DLTR on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Dollar Tree's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Dollar Tree reported revenue of $20.1B, 8.2% higher than a year earlier, according to its SEC filings.
What is Dollar Tree's free cash flow?
Dollar Tree's free-cash-flow margin is 9.9% of revenue over the trailing twelve months, ranking 2 of the 9 consumer staples merchandise retail companies we cover.
What is Dollar Tree's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Dollar Tree's free cash flow after stock-based pay gives ~$160 per share in the base case, and ~$120–$210 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Dollar Tree's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Dollar Tree buying back stock, and does it pay a dividend?
Dollar Tree spent $1.8B on share repurchases over the trailing twelve months, and its diluted share count fell 7.1% over the year.
What is Dollar Tree's market cap?
On November 2, 2026, Dollar Tree's market capitalisation was about $27.4B, with a price-to-earnings ratio of 17.0 and net debt of $1.9B. Market figures come from third-party market data and may be delayed.
How much debt does Dollar Tree have?
Dollar Tree's debt-to-equity ratio is 85.6%, from its latest balance sheet (44.3% five years earlier). The financial health section below sets out its other solvency checks.
Who are Dollar Tree's competitors?
In our Consumer Staples Merchandise Retail peer group, the companies closest to Dollar Tree are Bj's Wholesale Club Holdings, Inc., Dollar General, Pricesmart Inc, BBB Foods Inc and Maplebear Inc. The side-by-side comparison below sets their revenue, margins and growth against Dollar Tree's.
Are insiders buying or selling Dollar Tree stock?
Over the last 12 months, Dollar Tree's directors and officers reported 0 open-market purchases and 5 sales on Form 4. The insider trading page charts every trade.
When is Dollar Tree's next earnings date?
Around December 2, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Dollar Tree announces its own schedule.