Price to Sales (P/S)
since 2005
Calculation
Dollar Tree Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Net sales1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 15, 2022 | 1.29 | = | 151.06 | ÷ | 116.88 | 116.88 | = | 26,309,800 | ÷ | 225,110,329 | |
| Mar 16, 2021 | 1.00 | = | 109.04 | ÷ | 109.28 | 109.28 | = | 25,508,400 | ÷ | 233,420,925 | |
| Mar 20, 2020 | 0.76 | = | 75.97 | ÷ | 99.70 | 99.70 | = | 23,610,800 | ÷ | 236,810,841 | |
| Mar 27, 2019 | 1.09 | = | 104.22 | ÷ | 95.81 | 95.81 | = | 22,823,300 | ÷ | 238,204,351 | |
| Mar 16, 2018 | 1.02 | = | 95.75 | ÷ | 93.73 | 93.73 | = | 22,245,500 | ÷ | 237,335,999 | |
| Mar 28, 2017 | 0.87 | = | 76.55 | ÷ | 87.68 | 87.68 | = | 20,719,200 | ÷ | 236,297,936 | |
| Mar 28, 2016 | 1.23 | = | 80.84 | ÷ | 65.90 | 65.90 | = | 15,498,400 | ÷ | 235,182,732 | |
| Mar 13, 2015 | 1.96 | = | 81.91 | ÷ | 41.81 | 41.81 | = | 8,602,200 | ÷ | 205,759,864 | |
| Mar 14, 2014 | 1.42 | = | 53.92 | ÷ | 38.02 | 38.02 | = | 7,840,300 | ÷ | 206,224,996 | |
| Mar 15, 2013 | 1.34 | = | 44.24 | ÷ | 32.92 | 32.92 | = | 7,394,500 | ÷ | 224,590,879 | |
| Mar 15, 2012 | 1.63 | = | 46.76 | ÷ | 28.67 | 28.67 | = | 6,630,500 | ÷ | 231,305,516 | |
| Mar 17, 2011 | 1.11 | = | 26.67 | ÷ | 24.10 | 24.10 | = | 5,882,400 | ÷ | 244,082,432 | |
| Mar 19, 2010 | 0.94 | = | 18.81 | ÷ | 19.95 | 19.95 | = | 5,231,200 | ÷ | 262,266,768 | |
| Mar 26, 2009 | 0.85 | = | 14.58 | ÷ | 17.13 | 17.13 | = | 4,644,900 | ÷ | 271,146,258 | |
| Apr 1, 2008 | 0.62 | = | 9.71 | ÷ | 15.75 | 15.75 | = | 4,242,600 | ÷ | 269,424,370 | |
| Apr 4, 2007 | 0.95 | = | 12.76 | ÷ | 13.47 | 13.47 | = | 3,969,400 | ÷ | 294,753,874 | |
| Apr 12, 2006 | 0.81 | = | 8.68 | ÷ | 10.68 | 10.68 | = | 3,393,924 | ÷ | 317,887,282 | |
| Apr 14, 2005 | 0.87 | = | 8.31 | ÷ | 9.55 | 9.55 | = | 3,126,009 | ÷ | 327,282,888 |
Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Dollar Tree Inc. Annual Report.
The financial data from 2005 to 2022 indicates a long-term growth trajectory in both share price and sales per share, although the price-to-sales (P/S) ratio has exhibited significant cyclical volatility.
- Sales per Share Expansion
- A consistent upward trend in sales per share is evident, increasing from $9.55 in 2005 to $116.88 in 2022. This steady climb suggests a sustained increase in revenue generation per share throughout the analyzed period, providing a fundamental basis for the overall increase in share price.
- P/S Ratio Valuation Cycles
- The P/S ratio remained relatively stable and generally below 1.0 between 2005 and 2011, with a period low of 0.62 recorded in 2008. A significant valuation expansion occurred between 2012 and 2015, during which the ratio reached a peak of 1.96. This suggests a period where the market was willing to pay a higher premium for each dollar of sales.
- Recent Volatility and Correction
- Following the 2015 peak, a corrective phase is observed, with the P/S ratio declining to 0.87 in 2017. A further drop to 0.76 occurred in 2020, corresponding with a decrease in share price. This was followed by a recovery phase, with the ratio ascending to 1.29 by 2022, indicating a return to higher valuation multiples relative to sales.
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Comparison to Competitors
Dollar Tree Inc., P/S, long-term trends, comparison to competitors
| Dollar Tree Inc. | Costco Wholesale Corp. | Target Corp. | Walmart Inc. | |
|---|---|---|---|---|
| Mar 15, 2022 | 1.29 | 0.95 | 0.94 | 0.70 |
| Mar 16, 2021 | 1.00 | 1.03 | 0.95 | 0.67 |
| Mar 20, 2020 | 0.76 | 0.98 | 0.68 | 0.62 |
| Mar 27, 2019 | 1.09 | 0.88 | 0.53 | 0.55 |
| Mar 16, 2018 | 1.02 | 0.69 | 0.53 | 0.53 |
| Mar 28, 2017 | 0.87 | 0.55 | 0.44 | 0.45 |
| Mar 28, 2016 | 1.23 | 0.57 | 0.67 | 0.45 |
| Mar 13, 2015 | 1.96 | 0.58 | 0.70 | 0.54 |
| Mar 14, 2014 | 1.42 | 0.49 | 0.52 | 0.52 |
| Mar 15, 2013 | 1.34 | 0.50 | 0.60 | 0.53 |
| Mar 15, 2012 | 1.63 | 0.42 | 0.56 | 0.47 |
| Mar 17, 2011 | 1.11 | 0.41 | 0.53 | 0.44 |
| Mar 19, 2010 | 0.94 | 0.36 | 0.60 | 0.52 |
| Mar 26, 2009 | 0.85 | 0.36 | 0.35 | 0.52 |
| Apr 1, 2008 | 0.62 | 0.35 | 0.65 | 0.56 |
| Apr 4, 2007 | 0.95 | 0.45 | 0.86 | 0.57 |
| Apr 12, 2006 | 0.81 | 0.42 | 0.85 | 0.64 |
| Apr 14, 2005 | 0.87 | 0.46 | 0.94 | 0.74 |
Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
Comparison to Sector (Consumer Staples Distribution & Retail)
Dollar Tree Inc., P/S, long-term trends, comparison to sector (consumer staples distribution & retail)
| Dollar Tree Inc. | Consumer Staples Distribution & Retail | |
|---|---|---|
| Mar 15, 2022 | 1.29 | 0.79 |
| Mar 16, 2021 | 1.00 | 0.78 |
| Mar 20, 2020 | 0.76 | 0.70 |
| Mar 27, 2019 | 1.09 | 0.61 |
| Mar 16, 2018 | 1.02 | 0.56 |
| Mar 28, 2017 | 0.87 | 0.47 |
| Mar 28, 2016 | 1.23 | 0.50 |
| Mar 13, 2015 | 1.96 | 0.56 |
| Mar 14, 2014 | 1.42 | 0.51 |
| Mar 15, 2013 | 1.34 | 0.53 |
| Mar 15, 2012 | 1.63 | 0.47 |
| Mar 17, 2011 | 1.11 | 0.44 |
| Mar 19, 2010 | 0.94 | 0.51 |
| Mar 26, 2009 | 0.85 | 0.48 |
| Apr 1, 2008 | 0.62 | 0.54 |
| Apr 4, 2007 | 0.95 | 0.59 |
| Apr 12, 2006 | 0.81 | 0.64 |
| Apr 14, 2005 | 0.87 | 0.73 |
Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
Comparison to Industry (Consumer Staples)
Dollar Tree Inc., P/S, long-term trends, comparison to industry (consumer staples)
| Dollar Tree Inc. | Consumer Staples | |
|---|---|---|
| Mar 15, 2022 | 1.29 | 1.54 |
| Mar 16, 2021 | 1.00 | 1.61 |
| Mar 20, 2020 | 0.76 | 1.49 |
| Mar 27, 2019 | 1.09 | 1.47 |
| Mar 16, 2018 | 1.02 | 1.24 |
| Mar 28, 2017 | 0.87 | 1.25 |
| Mar 28, 2016 | 1.23 | 1.26 |
| Mar 13, 2015 | 1.96 | 1.23 |
| Mar 14, 2014 | 1.42 | 1.18 |
| Mar 15, 2013 | 1.34 | 1.14 |
| Mar 15, 2012 | 1.63 | 1.10 |
| Mar 17, 2011 | 1.11 | 1.03 |
| Mar 19, 2010 | 0.94 | 1.08 |
| Mar 26, 2009 | 0.85 | 1.01 |
| Apr 1, 2008 | 0.62 | 1.04 |
| Apr 4, 2007 | 0.95 | 1.20 |
| Apr 12, 2006 | 0.81 | 1.25 |
| Apr 14, 2005 | 0.87 | 1.26 |
Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).