DOLLAR GENERAL CORP
$134.14
−0.47 (−0.35%) · delayed · Nov 13, 2026
Five-year price
52w $99.50 to $158.23
- Market cap
- $29.6B
- Enterprise value
- $33.0B
- P/E
- 19.6×
- 20.6× on 3y avg EPS
- EV / EBIT
- 15.0×
- FCF yield
- 8.1%
- ROIC
- 14.2%
- Debt / equity
- 0.54
- Piotroski F
- 8/9
Value scorecard · FY2026
Does it pass the value tests?
Quality
100
- ●ROIC > 12% (5y avg)5y avg ROIC 17.4%
- ●ROE > 15% (5y avg)5y avg ROE 27.9%
- ●Stable operating marginsMargin volatility 2.0% (σ, 5y)
- ●Earnings convert to cashFCF / net income 88% (5y avg)
- ●Growing revenueRevenue CAGR 5y 4.8%
- ●Shrinking share countDiluted shares -11.7% over 5y
Value
20
- ○P/E below 15P/E 19.6
- ○EV/EBIT below 12EV/EBIT 15.0
- ●FCF yield above 6%FCF yield 8.1%
- ○Price below Graham NumberGraham Number $77.11
- ○P/B below 3P/B 3.5
Safety
40
- ○Debt / equity below 0.5D/E 0.54
- ●Debt payable in < 4 yrs of earningsNet debt $3.4B
- ○Interest coverage > 8xCoverage 7.6x
- ○Current ratio > 1.5Current ratio 1.13
- ●Piotroski F-score ≥ 6F-score 8/9
Graham Defensive
43
- ●Adequate size (revenue > $2B)Revenue $42.7B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.13
- ●Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ○Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 22%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 20.6
- ○P/E × P/B ≤ 22.5Product 71.7
Valuation lab
What do you have to believe?
At $134.14, the market is pricing in about 0.7% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $3.4B · 221M shares · 5y revenue CAGR 4.8%
Intrinsic value
$191.00
Price
$134.14
Margin of safety
30%
What the price implies
The market is paying for 0.7% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
57% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 21,987 | 23,471 | 25,625 | 27,754 | 33,747 | 34,220 | 37,845 | 38,692 | 40,612 | 42,724 |
| Gross profit | 6,783 | 7,221 | 7,804 | 8,489 | 10,719 | 10,813 | 11,820 | 11,719 | 12,017 | 13,100 |
| Operating income | 2,063 | 2,008 | 2,116 | 2,302 | 3,555 | 3,221 | 3,328 | 2,446 | 1,714 | 2,204 |
| Operating margin | 9.4% | 8.6% | 8.3% | 8.3% | 10.5% | 9.4% | 8.8% | 6.3% | 4.2% | 5.2% |
| Pre-tax income | 1,966 | 1,907 | 2,015 | 2,202 | 3,404 | 3,063 | 3,117 | 2,120 | 1,440 | 1,965 |
| Income tax | 714 | 368 | 426 | 489 | 749 | 664 | 701 | 458 | 315 | 452 |
| Net income | 1,251 | 1,539 | 1,589 | 1,713 | 2,655 | 2,399 | 2,416 | 1,661 | 1,125 | 1,512 |
| EPS (diluted) | 4.43 | 5.63 | 5.97 | 6.64 | 10.62 | 10.17 | 10.68 | 7.55 | 5.11 | 6.85 |
| Diluted shares | 282 | 273 | 266 | 258 | 250 | 236 | 226 | 220 | 220 | 221 |
Who owns it
Superinvestors
Filings wire