Dollar General Corp. (DG) intrinsic value & 10-year financials
Dollar General Corp. (DG) has a Graham intrinsic value of $108.86 per share. At $134.36 on Oct 17, 2026, the stock trades 23% above that value. Over the last 10 fiscal years revenue grew 7.7% a year to $42.7B, with an average return on invested capital of 17.7%.
- Graham intrinsic value
- $108.86
- Share price (Oct 17, 2026)
- $134.36
- Price vs Graham value
- 23% above
- Market cap
- $29.7B
- Revenue (FY2026)
- $42.7B
- Revenue growth (10-yr CAGR)
- 7.7%
- ROIC (10-yr avg)
- 17.7%
- Free cash flow (FY2026)
- $2.4B
DG 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $42.7B | $1.5B | $6.85 | $2.4B | 5.2% | 14.1% |
| FY2025 | $40.6B | $1.1B | $5.11 | $1.7B | 4.2% | 10.9% |
| FY2024 | $38.7B | $1.7B | $7.55 | $691.6M | 6.3% | 15.6% |
| FY2023 | $37.8B | $2.4B | $10.68 | $424.0M | 8.8% | 23.2% |
| FY2022 | $34.2B | $2.4B | $10.17 | $1.8B | 9.4% | 18.1% |
| FY2021 | $33.7B | $2.7B | $10.62 | $2.8B | 10.5% | 20.4% |
| FY2020 | $27.8B | $1.7B | $6.64 | $1.5B | 8.3% | 19.4% |
| FY2019 | $25.6B | $1.6B | $5.97 | $1.4B | 8.3% | 19.1% |
| FY2018 | $23.5B | $1.5B | $5.63 | $1.2B | 8.6% | 19.8% |
| FY2017 | $22.0B | $1.3B | $4.43 | $1.0B | 9.4% | 16.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Dollar General has demonstrated mature, steady growth, with revenue compounding at 7.7% annually over the past decade.
Dollar General has earned high returns on invested capital, averaging 17.7% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, Dollar General shows that management has aggressively returned capital to shareholders by retiring 21.8% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Dollar General is modeled at 5.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $108.86 per share.