DLTR DOLLAR TREE, INC.

Overview and Growth

In fiscal 2025, DOLLAR TREE, INC. recorded $19.41B of revenue, net income of $1.28B, and an operating cash inflow of $2.19B. The $19.41B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 10.4% above fiscal 2024 revenue of $17.58B, marking a year-over-year increase. On a per-share basis, diluted EPS was $6.22, which connects the reported earnings outcome with the company’s diluted share count. The revenue-to-assets relationship was 1.44x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The first profit layer was $7.05B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 36.3% of revenue, quantifying the portion retained before operating expenses were recognized. Operating income was $1.65B, the earnings remaining from reported operations after the company’s recognized operating cost structure. Operating margin measured 8.5%, showing the portion of revenue preserved after the full set of operating costs. Net income came to $1.28B, completing the progression from revenue through gross and operating profitability to the final reported result. Net margin was 6.6%, meaning that this portion of revenue remained as net income after all recognized expenses. Before income taxes, the company reported $1.63B of earnings, providing a bridge between the operating result and final net income. Pretax income represented 8.4% of revenue, placing earnings before tax in the context of the company’s operating scale. The company recognized $404.20M of income tax for the period, completing the transition from pretax income to net income. The income-tax provision equaled 24.8% of pretax income, showing the tax burden absorbed by the year’s earnings. Net income equaled 34.2% of period-end equity, showing the earnings generated on shareholders’ book capital.

Liquidity and Capital Structure

Total assets were $13.47B, supported by $9.71B of liabilities and $3.75B of shareholder equity. Current assets were $3.45B against $3.23B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 1.07x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $717.80M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 22.2% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Borrowings totaled $2.43B, adding a fixed financing obligation alongside the company’s equity capital. Debt equaled 0.65x of book equity, describing the relative scale of borrowing and shareholder capital. Relative to total assets, debt measured 18.1%, showing how much of the asset base was matched by borrowing. The liabilities-to-assets relationship was 72.1%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 5.3%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 27.8% lower than fiscal 2024 assets of $18.64B, measuring the company’s own balance-sheet change.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $2.19B, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Against net income, operating cash flow measured 1.71x, showing the relationship between accrual earnings and operating cash. Capital expenditures used $1.13B, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital expenditures represented 51.8% of operating cash flow, leaving the remainder available as free cash flow. After capital spending, free cash flow was $1.06B, leaving cash available for debt reduction, shareholder returns, or further investment. The free-cash-flow margin was 5.4%, measuring cash remaining after capital spending against revenue. The free-cash-flow-to-assets relationship was 7.8%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Jan 31, 2026. Analysis generated Oct 21, 2026.