Dollar General (DG) FY2020 results: revenue $33.7 billion, up 21.6% on the year
Dollar General Corp. (DG) reported revenue of $33.7 billion for fiscal 2020, the year ended 29 January 2021, up 21.6% on the year before. Net income was $2.7 billion, up 55.0%, and diluted earnings per share $10.62. The figures are the company's own, from the 10-K it filed with the SEC on 19 March 2021.
Revenue
$33.7 billion
+21.6% on the year
FY2013FY2020
Operating margin
10.5%
8.3% a year earlier
FY2013FY2020
Net income
$2.7 billion
+55.0% on the year
FY2013FY2020
Diluted EPS
$10.62
+59.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
33,747
27,754
25,625
+21.6%
Cost of revenue
23,028
19,265
17,821
+19.5%
Gross profit
10,719
8,489
7,804
+26.3%
Gross margin
31.8%
30.6%
30.5%
Selling, general and administrative
7,164
6,187
5,688
+15.8%
Operating income
3,555
2,302
2,116
+54.4%
Operating margin
10.5%
8.3%
8.3%
Interest expense
150
101
99.9
+49.5%
Pre-tax income
3,404
2,202
2,015
+54.6%
Income tax
749
489
426
+53.2%
Effective tax rate
22.0%
22.2%
21.1%
Net income
2,655
1,713
1,589
+55.0%
Net margin
7.9%
6.2%
6.2%
Diluted EPS
$10.62
$6.64
$5.97
+59.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
3,876
2,238
2,144
+73.2%
Capital expenditure
1,028
785
734
+31.0%
Free cash flow
2,848
1,453
1,409
+96.0%
Free cash flow margin
8.4%
5.2%
5.5%
Cash from investing
-1,025
-782
-732
Cash from financing
-1,715
-1,451
-1,444
Depreciation and amortisation
574
505
454
+13.8%
Share-based compensation
68.6
48.6
40.9
+41.2%
Buybacks
2,466
1,200
1,007
+105.5%
Dividends paid
356
328
307
+8.7%
Dividend per share
$1.44
$1.28
$1.16
+12.5%
Diluted shares, weighted
250m
258m
266m
-3.1%
Shares outstanding at period end
241m
252m
260m
-4.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
6,661
6,702
6,417
-0.6%
Debt
4,131
2,912
2,863
+41.9%
Operating lease liabilities
8,385
7,820
n/a
+7.2%
Other liabilities
6,685
5,391
3,924
+24.0%
Total liabilities and equity
25,863
22,825
13,204
+13.3%
Fixed assets
3,900
3,278
2,971
+19.0%
Goodwill
4,339
4,339
4,339
0.0%
Intangible assets
1,200
1,200
1,200
-0.0%
Cash and equivalents
1,377
240
235
+472.8%
Inventory
5,247
4,677
4,097
+12.2%
Other assets
9,800
9,091
362
+7.8%
Total assets
25,863
22,825
13,204
+13.3%
10-K for the year ended 29 January 2021, filed 19 March 2021: the filing.