Dollar General (DG) Q4 FY2025 earnings: revenue $10.9 billion, up 5.9% on the year

Dollar General Corp. (DG) reported revenue of $10.9 billion for Q4 FY2025, the quarter ended 30 January 2026, up 5.9% on the same quarter a year earlier. Net income was $426 million, up 122.9% on the year, and diluted earnings per share $1.93. The figures are the company's own, from the 10-K it filed with the SEC on 20 March 2026.

Revenue

$10.9 billion

+5.9% on the year · +2.5% on the quarter

Q1 FY2024Q4 FY2025

Operating margin

5.6%

2.9% a year earlier

Q1 FY2024Q4 FY2025

Net income

$426 million

+122.9% on the year · +50.8% on the quarter

Q1 FY2024Q4 FY2025

Diluted EPS

$1.93

+121.8% on the year · +50.8% on the quarter

Q1 FY2024Q4 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 5 new, 6 kept.

Fourth-quarter sales rose 5.9%: Net sales reached $10.9 billion, driven by same-store sales growth of 4.3% and contributions from new stores.
Quarter operating profit more than doubled: Operating profit rose to $606.3 million from $294.2 million, when the prior-year quarter carried $232 million of store portfolio review charges.
Quarter diluted EPS rose 121.8%: Diluted EPS was $1.93 against $0.87, and the prior-year quarter included about $0.81 per share of store review impact.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Revenue	10,911	10,649	10,304	+2.5%	+5.9%
Cost of revenue	7,589	7,465	7,275	+1.7%	+4.3%
Gross profit	3,322	3,184	3,030	+4.3%	+9.7%
Gross margin	30.4%	29.9%	29.4%
Selling, general and administrative	2,716	2,758	2,735	-1.5%	-0.7%
Operating income	606	426	294	+42.4%	+106.1%
Operating margin	5.6%	4.0%	2.9%
Interest expense	52.3	55.9	65.9	-6.5%	-20.6%
Pre-tax income	545	370	228	+47.5%	+138.9%
Income tax	119	87.3	37.1	+36.6%	+221.4%
Effective tax rate	21.8%	23.6%	16.2%
Net income	426	283	191	+50.8%	+122.9%
Net margin	3.9%	2.7%	1.9%
Diluted EPS	$1.93	$1.28	$0.87	+50.8%	+121.8%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free 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	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Operating cash flow	816	1,004	801	-18.8%	+1.8%
Capital expenditure	234	314	273	-25.5%	-14.3%
Free cash flow	582	690	528	-15.7%	+10.2%
Free cash flow margin	5.3%	6.5%	5.1%
Cash from investing	-233	-313	-271
Cash from financing	-685	-735	-134
Depreciation and amortisation	270	266	254	+1.5%	+6.6%
Share-based compensation	18.1	20.4	10.0	-11.1%	+80.3%
Dividends paid	130	130	130	+0.0%	+0.1%
Dividend per share	$0.59	$0.59	$0.59	0.0%	0.0%
Diluted shares, weighted	221m	221m	220m	+0.2%	+0.6%
Shares outstanding at period end	220m	220m	220m	+0.0%	+0.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Shareholders' equity	8,512	8,186	7,414	+4.0%	+14.8%
Debt	4,566	5,119	6,238	-10.8%	-26.8%
Operating lease liabilities	9,606	9,849	9,765	-2.5%	-1.6%
Finance lease liabilities	149	n/a	181		-17.9%
Other liabilities	8,131	8,564	7,535	-5.1%	+7.9%
Total liabilities and equity	30,964	31,719	31,133	-2.4%	-0.5%
Fixed assets	n/a	6,423	6,209
Goodwill	4,339	4,339	4,339	0.0%	0.0%
Intangible assets	1,200	1,200	1,200	+0.0%	+0.0%
Cash and equivalents	1,139	1,241	933	-8.2%	+22.1%
Inventory	6,332	6,654	6,711	-4.8%	-5.7%
Other assets	17,955	11,862	11,741	+51.4%	+52.9%
Total assets	30,964	31,719	31,133	-2.4%	-0.5%

Questions

What was Dollar General's revenue in Q4 FY2025?

Dollar General (DG) reported revenue of $10.9 billion for Q4 FY2025, the quarter ended 30 January 2026, up 5.9% on the same quarter a year earlier.

How much did Dollar General earn in Q4 FY2025?

Net income for Q4 FY2025 was $426 million, up 122.9% on the year, and diluted earnings per share $1.93.

When did Dollar General report Q4 FY2025 results?

Dollar General filed its 10-K for the year that ended with the quarter on 20 March 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q3 FY2021	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	8,518	8,651	8,751	9,426	9,465	10,203	9,343	9,796	9,694	9,859	9,914	10,210	10,183	10,304	10,436	10,728	10,649	10,911	10,787	11,290
Cost of revenue	5,898	5,951	6,013	6,377	6,580	7,055	6,387	6,751	6,882	6,952	6,922	7,151	7,247	7,275	7,205	7,366	7,465	7,589	7,376	7,609
Gross profit	2,619	2,700	2,738	3,048	2,885	3,148	2,955	3,045	2,813	2,906	2,992	3,059	2,936	3,030	3,231	3,362	3,184	3,322	3,410	3,681
Gross margin	31%	31%	31%	32%	30%	31%	32%	31%	29%	29%	30%	30%	29%	29%	31%	31%	30%	30%	32%	33%
SG&A	1,954	1,904	1,992	2,135	2,150	2,215	2,215	2,352	2,379	2,327	2,446	2,510	2,612	2,735	2,655	2,766	2,758	2,716	2,772	2,912
Operating income	666	797	746	913	736	933	741	692	433	580	546	550	324	294	576	595	426	606	639	769
Operating margin	8%	9%	9%	10%	8%	9%	8%	7%	4%	6%	6%	5%	3%	3%	6%	6%	4%	6%	6%	7%
Interest expense	39.2	38.5	39.7	43.1	53.7	74.8	83.0	84.3	82.3	77.1	72.4	68.1	67.8	65.9	64.6	57.7	55.9	52.3	47.2	42.9
Pre-tax income	626	758	706	870	681	858	658	608	351	503	474	482	256	228	512	538	370	545	591	726
Tax rate	22%	21%	22%	22%	23%	23%	22%	23%	21%	20%	23%	22%	23%	16%	23%	23%	24%	22%	25%	24%
Net income	487	597	553	678	526	659	514	469	276	402	363	374	197	191	392	411	283	426	444	550
Net margin	6%	7%	6%	7%	6%	6%	6%	5%	3%	4%	4%	4%	2%	2%	4%	4%	3%	4%	4%	5%
Diluted EPS	$2.08	$2.58	$2.41	$2.98	$2.33	$2.96	$2.34	$2.13	$1.26	$1.83	$1.65	$1.70	$0.89	$0.87	$1.78	$1.86	$1.28	$1.93	$2.00	$2.48
Operating cash flow	909	639	450	498	300	736	191	536	715	950	664	989	542	801	847	968	1,004	816	716	781
Capital expenditure	261	291	282	377	419	482	363	405	473	460	342	354	341	273	291	403	314	234	352	407
Free cash flow	648	348	168	121	-119	254	-172	131	243	490	322	635	201	528	556	565	690	582	365	374
Buybacks	360	490	747	349	546	1,106	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	97.3	96.8	125	124	123	121	129	129	129	130	130	130	130	130	130	130	130	130	130	130
Shares outstanding	232m	230m	227m	226m	224m	219m	219m	219m	219m	220m	220m	220m	220m	220m	220m	220m	220m	220m	221m	221m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 30 January 2026, filed 20 March 2026: the filing.