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Dollar Tree key statistics and ratios

In fiscal 2026, Dollar Tree had return on equity of 33.2% and a net margin of 6.6%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2010Jan 20102011Jan 20112012Jan 20122013Feb 20132014Feb 20142015Jan 20152016Jan 20162017Jan 20172018Feb 20182019Feb 20192020Feb 20202021Jan 20212022Jan 20222023Jan 20232024Feb 20242025Feb 20252026Jan 2026LTMAug 2026
Net margin6.1%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%
Return on equity22.4%27.5%34.8%41.1%42.1%40.5%9.1%18.3%27.3%−24.8%13.9%19.8%17.7%19.6%−12.4%−53.7%33.2%44.9%
Return on assets14.0%17.0%20.7%24.4%21.6%19.1%2.9%5.7%10.7%−10.7%5.0%6.7%6.3%7.2%−4.4%−14.9%8.0%11.7%
Effective tax rate36.9%36.9%37.4%36.7%37.5%37.2%37.0%32.6%−0.6%—24.7%22.9%18.6%23.9%23.8%24.7%24.8%24.6%
SG&A as % of revenue25.7%24.8%24.1%23.4%23.2%23.2%23.3%22.6%22.5%22.6%23.1%23.1%22.5%23.9%25.3%27.5%28.2%28.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

Compare with peers

Head to head: BJ vs DLTRDG vs DLTRDLTR vs PSMTDLTR vs TBBB

More: Consumer Staples Merchandise Retail stocks compared, Consumer Staples sector, rankings of US companies

Figures from Dollar Tree's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Dollar Tree.