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Dollar General (DG) FY2024 results: revenue $40.6 billion, up 5.0% on the year

Dollar General Corp. (DG) reported revenue of $40.6 billion for fiscal 2024, the year ended 31 January 2025, up 5.0% on the year before. Net income was $1.1 billion, down 32.3%, and diluted earnings per share $5.11. The figures are the company's own, from the 10-K it filed with the SEC on 21 March 2025.

Revenue
$40.6 billion
+5.0% on the year
FY2017FY2024
Operating margin
4.2%
6.3% a year earlier
FY2017FY2024
Net income
$1.1 billion
-32.3% on the year
FY2017FY2024
Diluted EPS
$5.11
-32.3% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue40,61238,69237,845+5.0%
Cost of revenue28,59526,97326,025+6.0%
Gross profit12,01711,71911,820+2.5%
Gross margin29.6%30.3%31.2%
Selling, general and administrative10,3039,2738,492+11.1%
Operating income1,7142,4463,328-29.9%
Operating margin4.2%6.3%8.8%
Interest expense274327211-16.1%
Pre-tax income1,4402,1203,117-32.1%
Income tax315458701-31.4%
Effective tax rate21.8%21.6%22.5%
Net income1,1251,6612,416-32.3%
Net margin2.8%4.3%6.4%
Diluted EPS$5.11$7.55$10.68-32.3%
$ 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow2,9962,3921,985+25.3%
Capital expenditure1,3101,7001,561-23.0%
Free cash flow1,686692424+143.8%
Free cash flow margin4.2%1.8%1.1%
Cash from investing-1,306-1,694-1,555
Cash from financing-1,294-542-392
Depreciation and amortisation972849725+14.5%
Share-based compensation58.751.972.7+13.2%
Buybacksn/an/a2,748
Dividends paid519518494+0.2%
Dividend per share$2.36$2.36$2.200.0%
Diluted shares, weighted220m220m226m+0.0%
Shares outstanding at period end220m220m219m+0.1%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity7,4146,7495,542+9.8%
Debt6,2387,0007,009-10.9%
Operating lease liabilities9,7659,7039,363+0.6%
Finance lease liabilities181200n/a-9.7%
Other liabilities7,5357,1427,169+5.5%
Total liabilities and equity31,13330,79629,083+1.1%
Fixed assets6,2096,0885,236+2.0%
Goodwill4,3394,3394,3390.0%
Intangible assets1,2001,2001,2000.0%
Cash and equivalents933537382+73.6%
Inventory6,7116,9946,761-4.0%
Other assets11,74111,63811,166+0.9%
Total assets31,13330,79629,083+1.1%

10-K for the year ended 31 January 2025, filed 21 March 2025: the filing.