At a glance
Dollar General Corporation is worth $29.96B, about 20 times its fiscal 2026 earnings. Revenue grew 5.2% to $42.72B in fiscal 2026, with 3.5% kept as profit; over 5 years it has grown 4.8% a year. It pays a 1.74% dividend yield, and returned $7.74B to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned +40.2% over the past year with dividends reinvested and −7.8% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 18.4% in the 2020 crash (S&P 500: 33.7%) and 27.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high within a month and 5 months after the lows.
The business in plain English
Dollar General is the largest discount retailer in the United States by number of stores, with 20,959 locations in 48 states and Mexico as of February 27, 2026. It sells everyday basics, typically priced at $10 or less, in small, no-frills stores averaging about 7,500 square feet of selling space. About 80% of its stores are in towns of 20,000 or fewer people. Its core customers are low- and fixed-income households, which other retailers, including grocers, often underserve.
The company earns thin profits on high volume. Consumables made up 82% of its $42.7 billion in net sales for the fiscal year ended January 30, 2026. These include paper towels, cleaning supplies, packaged food, snacks, health and beauty items, and pet food. Seasonal goods were about 10% of sales, home products about 5% and apparel under 3%. Consumables carry the lowest gross margin (the share of sales left after paying for the goods). Seasonal and home items carry the highest. Net profit came to about 3.5 cents per dollar of sales.
The growth plan centers on new and remodeled stores. In the fiscal year ended January 30, 2026, the company opened 589 stores and closed 290. It opened its first Mi Súper Dollar General stores in Mexico in 2023. Starting in 2025, it paused new openings of pOpshelf, a small-store concept focused on non-essentials.
Price history
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DG +40.2% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Consumables | $35.05B | 82% |
| Seasonal | $4.33B | 10.1% |
| Home Products | $2.21B | 5.2% |
| Apparel | $1.13B | 2.6% |
Latest results
- In Q2 FY2027 (ended Jul 31, 2026), revenue was $11.29B, up 5.2% from a year earlier, and net income was $550.3M (+33.8%).
- For fiscal 2026, revenue was $42.72B (+5.2% year over year; +4.8% a year from FY2021 to FY2026) with a 3.5% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +4.8% watch |
|---|---|
| Operating margin | 5.2% watch |
| Free cash flow margin | 5.6% watch |
| Return on equity (FY2026) | 17.8% good |
| Return on assets (FY2026) | 4.9% watch |
| Net cash (cash minus debt) | $-2.98B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $33.75B | $2.66B | $2.85B |
| FY2022 | $34.22B | $2.40B | $1.80B |
| FY2023 | $37.84B | $2.42B | $424.0M |
| FY2024 | $38.69B | $1.66B | $691.6M |
| FY2025 | $40.61B | $1.13B | $1.69B |
| FY2026 | $42.72B | $1.51B | $2.39B |
Valuation snapshot
| Market value | $29.96B |
|---|---|
| P/E ratio | 19.8 |
| Dividend yield | 1.74% |
Rank among 1514 US companies
Market value at each year end
Dollar General’s market value went from $20.46B at the end of 2016 to $29.96B on Nov 2, 2026, up 46%; since the end of 2025 it is up 2%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $29.96B | +2.5% |
| 2025 | $29.23B | +75.3% |
| 2024 | $16.67B | -44.1% |
| 2023 | $29.84B | -45.8% |
| 2022 | $55.06B | +0.8% |
| 2021 | $54.64B | +6.1% |
| 2020 | $51.52B | +29.7% |
| 2019 | $39.71B | +39.8% |
| 2018 | $28.41B | +12.5% |
| 2017 | $25.26B | +23.4% |
| 2016 | $20.46B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| DG price data to Nov 2, 2026 | +4.2% | +40.2% | +7.2% | -7.8% | +8.4% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +4.2% |
| 2025 | +79.7% |
| 2024 | -43.1% |
| 2023 | -44.1% |
| 2022 | +5.6% |
| 2021 | +13.0% |
| 2020 | +35.9% |
| 2019 | +45.7% |
| 2018 | +17.6% |
| 2017 | +26.9% |
| 2016 | +4.4% |
| 2015 | +2.9% |
| 2014 | +17.2% |
| 2013 | +36.8% |
| 2012 | +7.2% |
| 2011 | +34.1% |
| 2010 | +36.7% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 14.6% over that stretch · deepest drop along the way 18.4%, back to its old high 0.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 1.6% over that stretch · deepest drop along the way 27.6%, back to its old high 5.3 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 1 sales ($733K).
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 3, 2026 | Kathleen A Reardon EVP & Chief People Officer | sell | $733K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.51% | Mar 31, 2026 |
| BlackRock, Inc. | 6.9% | Mar 31, 2025 |
| Vanguard Portfolio Management | 5.24% | Jun 30, 2026 |
| STATE STREET CORPORATION | 4.9% | Jun 30, 2026 |
| PZENA INVESTMENT MANAGEMENT LLC | 4.9% | Dec 31, 2025 |
| Capital International Investors | 4.3% | Dec 31, 2024 |
ETFs with the most weight in DG
| TIME Clockwise Core Equity & Innovation ETF | 3.94% |
| ERNZ TrueShares Active Yield ETF | 3.87% |
| RSPS Invesco S&P 500 Equal Weight Consumer Staples ETF | 3.21% |
| MDPL Monarch Dividend Plus ETF | 3.05% |
| EQRR ProShares Equities for Rising Rates ETF | 2.87% |
| RPV Invesco S&P 500® Pure Value ETF | 1.76% |
| AGOX Adaptive Alpha Opportunities ETF | 1.75% |
| CGMM Capital Group U.S. Small and Mid Cap ETF | 1.67% |
What could go wrong
- Customers with tight budgets. Many customers have fixed or low incomes. Inflation, especially in food, plus job losses or higher fuel and housing costs, can cut their spending or shift it to lower-margin consumables.
- Changes to government food assistance. Cuts to food and nutrition aid can shrink what core shoppers spend. The annual report cites work-requirement changes enacted in 2025 and some states excluding previously covered product categories starting January 2026.
- Theft, damage and inventory mistakes. Shrink, meaning goods lost to theft, damage or errors, comes straight out of profit. Too much inventory ties up cash, while too little means empty shelves and lost sales.
- Store growth and remodels may disappoint. Growth relies on opening, remodeling and relocating stores on time and on budget, and on newer efforts such as Mexico. Delays, higher building costs or weak new stores could slow growth and hurt profits.
- Rising wages and staffing problems. Stores run with small teams. Higher minimum wages, the expiration of a hiring-related tax credit, or trouble finding and keeping workers could raise costs and hurt service.
- Competition from many kinds of stores. It competes with discount, convenience, drug, grocery, online and mass-merchant retailers. Rival price cuts or new stores nearby could slow growth and squeeze already thin margins.
Recent events
- Other company announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Shareholder vote results; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
For income and retirement investors
Dollar General's dividend per share rose from $1.44 in the fiscal year ended in early 2021 to $2.36 three years later. It then stayed flat through the fiscal year ended January 30, 2026. In that year, dividends used 34.4% of earnings and 21.7% of free cash flow (cash left after paying operating costs and investing in the business). The yield was 1.87% as of October 28, 2026. Buybacks totaled about $5.3 billion over the five fiscal years through January 2026.
The stock held up fairly well when the whole market sold off. It fell 18.4% in the 2020 COVID crash and recovered within a month. It ended the 2022 bear market's decline 1.6% higher, despite a 27.6% dip along the way. Its steepest losses came as earnings per share roughly halved: the price fell 44% in 2023 and 43% in 2024, then gained 80% in 2025. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Dollar General make money?
Dollar General makes money by selling everyday basics at low prices, typically $10 or less. It had 20,959 small stores in 48 states and Mexico as of February 27, 2026. Consumables such as food, paper goods, cleaning supplies and health and beauty items made up 82% of its $42.7 billion in net sales for the fiscal year ended January 30, 2026. Margins are thin. The company kept about 3.5 cents of net profit from each dollar of sales, so it relies on high volume and low costs.
Does Dollar General raise its dividend every year?
No. Dollar General's dividend per share rose from $1.44 in the fiscal year ended in early 2021 to $2.36 three years later. It then stayed at $2.36 for three straight fiscal years through January 30, 2026. Even with that pause, it grew about 10.4% a year on average over the five-year span. In the fiscal year ended January 30, 2026, dividends used 34.4% of earnings. The yield was 1.87% as of October 28, 2026.
Why did Dollar General stock fall in 2023 and 2024?
The stock fell 44% in 2023 and 43% in 2024 as profits dropped sharply. Earnings per share (profit divided by shares) fell from $10.68 in the fiscal year ended in early 2023 to $5.11 two years later. The company's annual report says inflation and other pressures have reduced the spending power of its many low- and fixed-income customers. Earnings recovered to $6.85 per share in the fiscal year ended January 30, 2026, and the stock gained 80% in 2025.
How many stores does Dollar General have?
Dollar General had 20,959 stores in 48 U.S. states and Mexico as of February 27, 2026. That makes it the largest U.S. discount retailer by store count. About 80% of its stores are in towns of 20,000 or fewer people, and they average about 7,500 square feet of selling space. In the fiscal year ended January 30, 2026, it opened 589 stores and closed 290. The net gain of 299 was the smallest of the three years in its annual report.
Is Dollar General stock recession-proof?
No stock is recession-proof, though Dollar General has some defensive traits. It sells mostly essentials. Its same-store sales (sales at stores open at least a year) grew every year since 1990 except 2021, according to its annual report filed March 20, 2026. Its one-year beta was 0.45 as of October 28, 2026, meaning it moved less than half as much as the market. But many customers have tight budgets, and the price has fallen as much as 72.6% from a peak since 2009.