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Held by 225 of 2,417 reporting institutions (95th percentile) — extremely crowded.
Data as of Q3 2026
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What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $1.55B buybacks = $1.55B returned.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: 21%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
EOD close · as of 2026-10-30
Where each multiple sits in its own 14-yr range · 71th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2026 · every deduction from revenue to net income
DuPont — the three levers
ROE 34% against ROIC 21% — 13% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2020 | FY2021 | FY2021 | FY2022 | FY2023 | FY2025 | FY2026 | FY2026 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 69.6 | 70.2 | 69.5 | 70.6 | 62.5 | 64.1 | 64.2 | 63.6 |
| Gross Profit | 30.4 | 29.8 | 30.5 | 29.4 | 37.5 | 35.8 | 35.7 | 36.3 |
| SG&A | 22.6 | 23.1 | 23.1 | 22.5 | 23.9 | 25.3 | 27.5 | 28.2 |
| Operating Income | -4.1 | 5.3 | 7.4 | 6.9 | 13.6 | 10.6 | 8.3 | 8.5 |
| Income Tax | 1.2 | 1.2 | 1.6 | 1.2 | 3.1 | 2.4 | 1.9 | 2.1 |
| Net Income | -7.0 | 3.5 | 5.3 | 5.0 | 10.5 | -5.9 | -17.2 | 6.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on DLTR: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $717.8M covers the $0 due within a year 717800000.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2026-01-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.”
Cash of $717.8M fully covers short-term debt of $0.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2026
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it. This year they exceeded net income, so the ribbons are capped at earnings and understate what was actually returned.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2026 | FY2026 | FY2025 | FY2023 | FY2022 | FY2021 | FY2021 | FY2020 | FY2019 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.41B 100.0% | $17.58B 100.0% | $16.78B 100.0% | $15.41B 100.0% | $26.32B 100.0% | $25.51B 100.0% | $23.61B 100.0% | $22.82B 100.0% | $22.25B 100.0% | $20.72B 100.0% |
| Cost of Revenue | $12.35B 63.6% | $11.28B 64.2% | $10.76B 64.1% | $9.63B 62.5% | $18.58B 70.6% | $17.72B 69.5% | $16.57B 70.2% | $15.88B 69.6% | $15.22B 68.4% | $14.32B 69.1% |
| Cost of Products | — | — | — | — | — | — | — | — | $15.22B 68.4% | $14.32B 69.1% |
| Gross Profit | $7.05B 36.3% | $6.28B 35.7% | $6.01B 35.8% | $5.78B 37.5% | $7.73B 29.4% | $7.79B 30.5% | $7.04B 29.8% | $6.95B 30.4% | $7.02B 31.6% | $6.39B 30.9% |
| Selling, General & Admin | $5.47B 28.2% | $4.83B 27.5% | $4.25B 25.3% | $3.68B 23.9% | $5.93B 22.5% | $5.90B 23.1% | $5.47B 23.1% | $5.16B 22.6% | $5.00B 22.5% | $4.69B 22.6% |
| Operating Income | $1.65B 8.5% | $1.46B 8.3% | $1.77B 10.6% | $2.10B 13.6% | $1.81B 6.9% | $1.89B 7.4% | $1.26B 5.3% | -$939.5M -4.1% | $2.00B 9.0% | $1.70B 8.2% |
| Other Income (Expense), net | $61.9M 0.3% | $29.1M 0.2% | -$100K -0.0% | -$400K -0.0% | -$300K -0.0% | -$800K -0.0% | -$1.4M -0.0% | $500K 0.0% | $6.7M 0.0% | $100K 0.0% |
| Pretax Income | $1.63B 8.4% | $1.38B 7.9% | $1.66B 9.9% | $1.97B 12.8% | $1.63B 6.2% | $1.74B 6.8% | $1.10B 4.7% | -$1.31B -5.7% | $1.70B 7.7% | $1.33B 6.4% |
| Income Tax Expense | $404.2M 2.1% | $341.1M 1.9% | $396.1M 2.4% | $471.6M 3.1% | $304.3M 1.2% | $397.9M 1.6% | $271.7M 1.2% | $281.8M 1.2% | -$10.3M -0.0% | $433.2M 2.1% |
| Net Income | $1.28B 6.6% | -$3.03B -17.2% | -$998.4M -5.9% | $1.62B 10.5% | $1.33B 5.0% | $1.34B 5.3% | $827.0M 3.5% | -$1.59B -7.0% | $1.71B 7.7% | $896.2M 4.3% |
| Per Share | ||||||||||
| EPS (Basic) | $6.23 | -$14.05 | -$4.55 | $7.24 | $5.83 | $5.68 | $3.49 | -$6.69 | $7.24 | $3.80 |
| EPS (Diluted) | $6.22 | -$14.03 | -$4.54 | $7.21 | $5.80 | $5.65 | $3.47 | -$6.69 | $7.21 | $3.78 |
| Weighted Avg Shares (Basic) | 205.8M | 215.7M | 219.5M | 223.2M | 227.9M | 236.4M | 237.2M | 237.9M | 236.8M | 235.7M |
| Weighted Avg Shares (Diluted) | 206.3M | 215.9M | 219.9M | 224.1M | 229.0M | 237.3M | 238.3M | 237.9M | 237.7M | 236.8M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 1 positive fiscal year (FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $133.87 today, the market must believe free cash flow compounds -2.1%/yr for a decade (off $1.49B on the 3-yr avg basis).
On the basis ($1.41B) the requirement is -1.5%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
Default is 6.4% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.19B shares (market data) · net debt $1.71B
mean 29.4% · volatility σ 78% · implied rate exceeded in 4/7 yrs
Central path = implied -2.1%/yr growth; shaded band = ±1σ (78%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Ranked against 12 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WMT | $962.0B | 44.4× | — | 1.4× | 4.7% | 24.9% | 3.1% | 22.0% | 15.5% | — | 1,661 |
| COST | $441.4B | 48.0× | 29.8× | 1.5× | 10.1% | 12.8% | 3.0% | 25.8% | 22.0% | -1.0× | 1,586 |
| TGT | $69.0B | 18.7× | 10.1× | 0.7× | -1.7% | 27.9% | 3.5% | 22.9% | 12.1% | 1.7× | 668 |
| DG | $28.7B | 19.0× | 9.9× | 0.7× | 5.2% | 30.7% | 3.5% | 17.8% | 11.6% | 1.1× | 326 |
| DLTR | $24.8B | 21.2× | 11.5× | 1.3× | 10.4% | 36.3% | 6.6% | 34.2% | 20.7% | 0.7× | 225 |
| BURL | $15.3B | 25.5× | 12.6× | 1.3× | 8.8% | 43.9% | 5.3% | 33.8% | 15.7% | 0.7× | 123 |
| FIVE | $13.5B | 37.9× | 19.7× | 2.8× | 22.9% | 36.0% | 7.5% | 16.4% | 16.4% | -1.1× | 140 |
| BJ | $13.3B | 24.1× | 12.5× | 0.6× | 4.7% | 18.6% | 2.7% | 26.3% | 21.3% | 0.4× | 152 |
| DDS | $10.3B | 18.1× | — | 1.6× | -0.4% | 39.0% | 8.7% | 32.1% | 32.1% | — | 58 |
| M | $6.5B | 10.7× | 4.0× | 0.3× | -1.7% | 40.3% | 2.8% | 13.2% | 8.8% | 0.6× | 112 |
| OLLI | $5.5B | 23.8× | 14.8× | 2.1× | 16.6% | 40.5% | 9.1% | 12.7% | 12.7% | -0.7× | 81 |
| PSMT | $5.1B | 34.3× | 15.7× | 1.0× | 7.2% | 17.4% | 2.8% | 11.9% | 10.5% | -0.3× | 82 |
| KSS | $2.8B | 10.3× | — | 0.2× | -4.3% | 40.6% | 1.8% | 6.7% | 5.0% | — | 75 |
Peers = companies sharing DLTR's sector (Retail-Variety Stores) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Earns 5.42pts above its cost of capital, but net margin has stepped down from 1048.18% to 660.68% over 3 years.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2021 | 5.9% | 6.4% (today's — no rate published for this year) | -0.5pts |
| FY2021 | 8.9% | 6.4% (today's — no rate published for this year) | 2.5pts |
| FY2022 | 7.9% | 6.4% (today's — no rate published for this year) | 1.6pts |
| FY2023 | 8.6% | 6.4% (today's — no rate published for this year) | 2.2pts |
| FY2025 | 9.2% | 6.4% (today's — no rate published for this year) | 2.8pts |
| FY2026 | 10.1% | 6.4% (today's — no rate published for this year) | 3.8pts |
| FY2026 | 11.9% | 6.4% (today's — no rate published for this year) | 5.5pts |
| Now | 20.7% | 6.4% | 14.4pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2017 | 30.9% | 8.2% | 4.3% |
| FY2019 | 31.6% | 9.0% | 7.7% |
| FY2020 | 30.4% | -4.1% | -7.0% |
| FY2021 | 29.8% | 5.3% | 3.5% |
| FY2021 | 30.5% | 7.4% | 5.3% |
| FY2022 | 29.4% | 6.9% | 5.0% |
| FY2023 | 37.5% | 13.6% | 10.5% |
| FY2025 | 35.8% | 10.6% | -5.9% |
| FY2026 | 35.7% | 8.3% | -17.2% |
| FY2026 | 36.3% | 8.5% | 6.6% |
Leverage and buybacks account for 13 points of the 34% return on equity in FY2026. The business earns 21% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
$422M of goodwill — 4% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
Net margin is 660.68% against 1048.18% 3 years ago — a step down the business has not recovered, whatever the spread says today.
Converts 0.82x of reported profit into cash — adequate, without much margin.
Only 4 profitable years available, so the average is shorter than the five the threshold assumes.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
Ladder as of 2026-01-31 (10-K); cash from the 2026-01-31 balance sheet; FCF from FY2026.
Balance sheet at 2026-01-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: interest_expense.
At $132.03, free cash flow must compound -0.37%/yr for 10 years. It has done 15.59%/yr over 4 years, though across a reporting-basis change.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2021 | 117.7% | −0.4% |
| FY2022 | −77.4% | −0.4% |
| FY2023 | 137.8% | −0.4% |
| FY2025 | 52.8% | −0.4% |
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. TTM basis: TTM.
The achieved growth rate spans a reporting-basis change in FY2023, so part of it measures the restatement rather than the business.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2021 | 8.0% | not reported | not reported |
| FY2022 | 3.2% | not reported | not reported |
| FY2023 | -41.5% | not reported | not reported |
| FY2025 | 8.9% | not reported | not reported |
| FY2026 | 4.8% | not reported | not reported |
| FY2026 | 10.4% | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2021 | -5.3 percent |
| FY2021 | -6.6 percent |
| FY2022 | -0.5 percent |
| FY2023 | 0.0 percent |
| FY2025 | -16.7 percent |
| FY2026 | not reported |
| FY2026 | not reported |
Below the line, the asset base is being consumed faster than it is replaced.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2026) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-27 | 2 co-filers Chief Accounting Officer | Tax withholding | 620 | $123.65 | $77k |
| 2026-10-27 | 2 co-filers Chief Retail Officer | Tax withholding | 1,508 | $123.65 | $186k |
| 2026-10-27 | 2 co-filers Chief Retail Officer | Grant | 1,033 | $0.00 | $0 |
| 2026-10-27 | 2 co-filers Chief Accounting Officer | Grant |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
| 147 |
| $0.00 |
| $0 |
| 2026-10-03 | Mitchell John S. Jr Chief Legal Officer | Tax withholding13d late | 466 | $112.16 | $52k |
| 2026-10-01 | Kelly Edward J Iii Director | Grant | 328 | $114.43 | — |
| 2026-10-01 | Stahl Stephanie Director | Grant | 393 | $114.43 | — |
| 2026-09-04 | Stahl Stephanie Director | Open-market sale | 1,185 | $131.47 | $156k |
| 2026-08-31 | Aflatooni Robert Chief Information Officer | Open-market sale | 2,500 | $126.01 | $315k |
| 2026-08-02 | Maheshwari Aditya Chief Accounting Officer | Tax withholding | 127 | $127.21 | $16k |
| 2026-08-01 | 2 co-filers Group filing | Other | 1,185 | — | — |
| 2026-08-01 | 2 co-filers Group filing | Other | 1,185 | — | — |
| 2026-07-05 | Schumacher Steven Chief People Officer | Tax withholding | 282 | $124.05 | $35k |
| 2026-07-01 | Douglas William W Iii Director | Grant | 1,238 | $121.15 | — |
| 2026-07-01 | Heinrich Daniel J Director | Grantindirect | 1,238 | $121.15 | $150k |
| 2026-07-01 | Grise Cheryl W Director | Grant | 1,238 | $121.15 | $150k |
| 2026-07-01 | Johnson Timothy A Director | Grant | 1,238 | $121.15 | $150k |
| 2026-07-01 | Scott Bertram L Director | Grant | 1,238 | $121.15 | — |
| 2026-07-01 | 2 co-filers Group filing | Grant | 371 | $121.15 | — |
| 2026-07-01 | 2 co-filers Group filing | Grant | 2,064 | $121.15 | — |
| 2026-07-01 | 3 co-filers Group filing | Other | 1,398 | — | — |
| 2026-07-01 | 2 co-filers Group filing | Grant | 310 | $121.15 | — |
| 2026-07-01 | 2 co-filers Group filing | Grant | 1,238 | $121.15 | — |
| 2026-07-01 | 3 co-filers Group filing | Grant | 1,238 | $121.15 | $150k |
| 2026-07-01 | 3 co-filers Group filing | Other | 1,398 | — | — |
| 2026-06-24 | 45 co-filers Group filing | Otherindirect | 602,170 | — | — |
| 2026-06-24 | 45 co-filers Group filing | Open-market saleindirect | 2,230,455 | $111.31 | $248.3m |
| 2026-06-24 | 45 co-filers Group filing | Otherindirect | 10,266,164 | $0.00 | $0 |
| 2026-06-24 | 45 co-filers Group filing | Otherindirect | 602,170 | — | — |
| 2026-06-24 | 45 co-filers Group filing | Otherindirect | 33,981 | — | — |
| 2026-06-24 | 45 co-filers Group filing | Otherindirect | 900,360 | — | — |
| 2026-06-24 | 45 co-filers Group filing | Otherindirect | 2,501,339 | — | — |
| 2026-06-24 | 45 co-filers Group filing | Otherindirect | 6,231,104 | — | — |
| 2026-06-24 | 45 co-filers Group filing | Otherindirect | 70,259 | — | — |
| 2026-06-24 | 45 co-filers Group filing | Otherindirect | 21,499 | — | — |
| 2026-06-24 | 45 co-filers Group filing | Otherindirect | 146,571 | — | — |
| 2026-06-24 | 45 co-filers Group filing | Otherindirect | 178,586 | — | — |
| 2026-06-24 | 45 co-filers Group filing | Otherindirect | 237,336 | — | — |
| 2026-06-24 | 45 co-filers Group filing | Otherindirect | 190,199 | — | — |
| 2026-06-24 | 45 co-filers Group filing | Otherindirect | 78,711 | — | — |