Selected Financial Data
since 2005
Income Statement
Dollar Tree Inc., selected items from income statement, long-term trends
US$ in thousands
| 12 months ended: | Net sales | Operating income (loss) | Net income (loss) |
|---|---|---|---|
| Jan 29, 2022 | 26,309,800) | 1,811,400) | 1,327,900) |
| Jan 30, 2021 | 25,508,400) | 1,887,900) | 1,341,900) |
| Feb 1, 2020 | 23,610,800) | 1,262,200) | 827,000) |
| Feb 2, 2019 | 22,823,300) | (939,500) | (1,590,800) |
| Feb 3, 2018 | 22,245,500) | 1,999,100) | 1,714,300) |
| Jan 28, 2017 | 20,719,200) | 1,704,800) | 896,200) |
| Jan 30, 2016 | 15,498,400) | 1,049,700) | 282,400) |
| Jan 31, 2015 | 8,602,200) | 1,040,200) | 599,200) |
| Feb 1, 2014 | 7,840,300) | 970,300) | 596,700) |
| Feb 2, 2013 | 7,394,500) | 920,100) | 619,300) |
| Jan 28, 2012 | 6,630,500) | 782,100) | 488,300) |
| Jan 29, 2011 | 5,882,400) | 630,000) | 397,300) |
| Jan 30, 2010 | 5,231,200) | 512,800) | 320,500) |
| Jan 31, 2009 | 4,644,900) | 365,800) | 229,500) |
| Feb 2, 2008 | 4,242,600) | 330,300) | 201,300) |
| Feb 3, 2007 | 3,969,400) | 310,800) | 192,000) |
| Jan 28, 2006 | 3,393,924) | 283,239) | 173,918) |
| Jan 29, 2005 | 3,126,009) | 293,551) | 180,250) |
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).
Net sales exhibited consistent growth over the analyzed period, beginning at 3.13 billion USD in 2005 and reaching 26.31 billion USD by 2022. The growth trajectory was characterized by steady incremental increases from 2005 to 2015, followed by a period of rapid acceleration between 2016 and 2017, where sales surged from 8.60 billion USD to 20.72 billion USD. Following this expansion, revenue growth shifted back to a moderate upward trend through 2022.
- Revenue Growth Patterns
- A sustained long-term upward trend is observed in net sales. The most significant escalation occurred between 2015 and 2016, with sales nearly doubling in a single fiscal year. This indicates a substantial expansion in scale that fundamentally altered the company's revenue base.
- Operating Income Performance
- Operating income grew steadily from 293.55 million USD in 2005 to a peak of 1.99 billion USD in 2018. However, the 2019 fiscal year serves as a critical outlier, recording an operating loss of 939.50 million USD. This sharp reversal was followed by a strong recovery in 2020, with operating income returning to positive territory at 1.26 billion USD and continuing to climb to 1.88 billion USD by 2021, before a slight decline to 1.81 billion USD in 2022.
- Net Income Volatility
- Net income patterns closely mirror operating income trends, demonstrating growth from 180.25 million USD in 2005 to 1.71 billion USD in 2018. A severe contraction occurred in 2019, resulting in a net loss of 1.59 billion USD. Subsequent years showed a robust rebound, with net income recovering to 827 million USD in 2020 and stabilizing between 1.32 billion and 1.34 billion USD during the 2021 and 2022 periods.
- Profitability Correlation
- The data indicates a strong correlation between net sales and profitability until 2019. The decoupling of revenue growth and profit in 2019, where sales continued to rise while income plummeted, suggests the impact of significant non-operational charges or an acute increase in operating expenses during that specific window.
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Balance Sheet: Assets
Dollar Tree Inc., selected items from assets, long-term trends
US$ in thousands
| Current assets | Total assets | |
|---|---|---|
| Jan 29, 2022 | 5,609,200) | 21,721,800) |
| Jan 30, 2021 | 5,050,800) | 20,696,000) |
| Feb 1, 2020 | 4,269,400) | 19,574,600) |
| Feb 2, 2019 | 4,293,300) | 13,501,200) |
| Feb 3, 2018 | 4,576,300) | 16,332,800) |
| Jan 28, 2017 | 3,938,000) | 15,701,600) |
| Jan 30, 2016 | 3,935,900) | 15,901,200) |
| Jan 31, 2015 | 1,994,600) | 3,567,000) |
| Feb 1, 2014 | 1,378,500) | 2,771,900) |
| Feb 2, 2013 | 1,473,500) | 2,752,000) |
| Jan 28, 2012 | 1,209,400) | 2,328,600) |
| Jan 29, 2011 | 1,333,300) | 2,380,500) |
| Jan 30, 2010 | 1,305,600) | 2,289,700) |
| Jan 31, 2009 | 1,073,200) | 2,035,700) |
| Feb 2, 2008 | 788,800) | 1,787,700) |
| Feb 3, 2007 | 959,000) | 1,873,300) |
| Jan 28, 2006 | 943,676) | 1,798,400) |
| Jan 29, 2005 | 969,887) | 1,792,672) |
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).
The asset profile of the organization reflects two distinct phases of growth: a period of gradual expansion from 2005 to 2014, followed by a period of aggressive scaling and structural transformation between 2015 and 2022.
- Total Asset Trajectory
- Total assets grew modestly from $1.79 billion in 2005 to $2.77 billion in 2014. A significant structural shift occurred in 2016, where total assets surged to $15.9 billion, representing a nearly 470% increase over two years. Despite a temporary decline to $13.5 billion in 2018, a strong recovery trend followed, culminating in a peak of $21.72 billion by January 29, 2022.
- Current Asset Expansion
- Current assets exhibited relative stability during the first decade, fluctuating between $788 million and $1.47 billion. A sharp acceleration began in 2015, with current assets rising to $1.99 billion and doubling to $3.94 billion by 2016. This upward momentum continued through 2022, ending at $5.61 billion, indicating a substantial increase in short-term liquidity and working capital requirements to support a larger operational scale.
- Asset Composition and Structural Shift
- The relationship between current and total assets indicates a fundamental change in the balance sheet structure. Between 2005 and 2014, current assets typically comprised 40% to 55% of total assets. From 2016 onward, this proportion dropped significantly, with current assets representing approximately 25% to 26% of total assets. This divergence suggests that the massive growth in total assets was driven primarily by non-current assets, such as property, plant, equipment, or intangible assets resulting from strategic acquisitions.
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Balance Sheet: Liabilities and Stockholders’ Equity
Dollar Tree Inc., selected items from liabilities and stockholders’ equity, long-term trends
US$ in thousands
| Current liabilities | Total liabilities | Long-term debt, net | Shareholders’ equity | |
|---|---|---|---|---|
| Jan 29, 2022 | 4,176,600) | 14,003,300) | 3,417,000) | 7,718,500) |
| Jan 30, 2021 | 3,730,300) | 13,410,700) | 3,226,200) | 7,285,300) |
| Feb 1, 2020 | 3,546,500) | 13,319,800) | 3,772,200) | 6,254,800) |
| Feb 2, 2019 | 2,095,700) | 7,858,300) | 4,265,300) | 5,642,900) |
| Feb 3, 2018 | 2,859,100) | 9,150,500) | 5,678,000) | 7,182,300) |
| Jan 28, 2017 | 2,105,900) | 10,312,100) | 6,321,800) | 5,389,500) |
| Jan 30, 2016 | 2,095,400) | 11,494,300) | 7,346,400) | 4,406,900) |
| Jan 31, 2015 | 861,600) | 1,782,000) | 757,000) | 1,785,000) |
| Feb 1, 2014 | 686,300) | 1,601,200) | 769,800) | 1,170,700) |
| Feb 2, 2013 | 676,200) | 1,084,700) | 271,300) | 1,667,300) |
| Jan 28, 2012 | 581,000) | 984,000) | 265,500) | 1,344,600) |
| Jan 29, 2011 | 532,800) | 921,500) | 266,500) | 1,459,000) |
| Jan 30, 2010 | 475,900) | 860,500) | 267,500) | 1,429,200) |
| Jan 31, 2009 | 409,900) | 782,500) | 267,600) | 1,253,200) |
| Feb 2, 2008 | 405,900) | 799,300) | 268,500) | 988,400) |
| Feb 3, 2007 | 383,300) | 705,600) | 268,800) | 1,167,700) |
| Jan 28, 2006 | 295,456) | 626,125) | 269,000) | 1,172,275) |
| Jan 29, 2005 | 294,355) | 628,460) | 269,000) | 1,164,212) |
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).
The financial structure from 2005 to 2022 is characterized by two distinct phases: a period of relative stability followed by a period of significant expansion and subsequent deleveraging beginning in 2016. The balance sheet evolved from a low-leverage model to one marked by a substantial increase in total obligations and equity.
- Liability Trends and Composition
- Total liabilities exhibited slow growth between 2005 and 2014, rising from 628.46 million to 1.60 billion. A dramatic shift occurred in 2016, where total liabilities surged to 11.49 billion. While this figure fluctuated in subsequent years, it remained significantly higher than pre-2016 levels, reaching 14.00 billion by 2022. This overall increase was driven by both long-term debt and current liabilities.
- Long-Term Debt Analysis
- Long-term debt remained remarkably stagnant for nearly a decade, hovering around 265 million to 270 million between 2005 and 2013. A sharp increase began in 2014, culminating in a peak of 7.35 billion in 2016. Following this peak, a consistent downward trend in long-term debt is observed, with the balance decreasing to 3.42 billion by 2022. This suggests a strategic effort to reduce long-term leverage after a period of aggressive capital acquisition.
- Current Liabilities Growth
- Current liabilities demonstrated a more linear and persistent growth pattern compared to long-term debt. Starting at 294.36 million in 2005, current liabilities grew steadily to 861.60 million by 2015. After 2015, there was a rapid acceleration, with values exceeding 2 billion annually from 2016 onward and peaking at 4.18 billion in 2022. This indicates a substantial increase in short-term operational obligations relative to the total liability structure.
- Shareholders' Equity Expansion
- Shareholders' equity grew modestly from 1.16 billion in 2005 to 1.79 billion in 2015. Parallel to the spike in liabilities in 2016, equity saw a significant jump to 4.41 billion. This upward trajectory continued through 2022, reaching 7.72 billion. The growth in equity has served to partially offset the increase in total liabilities, improving the long-term solvency position of the organization.
The relationship between debt and equity indicates a transition toward a more capital-intensive balance sheet. The sharp increase in liabilities and equity in 2016 suggests a major corporate event or structural change. The subsequent reduction in long-term debt, coupled with the steady rise in shareholders' equity, points toward a strengthening of the financial position and a reduction in long-term financial risk.
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Cash Flow Statement
Dollar Tree Inc., selected items from cash flow statement, long-term trends
US$ in thousands
| 12 months ended: | Net cash provided by operating activities | Net cash used in investing activities | Net cash provided by (used in) financing activities |
|---|---|---|---|
| Jan 29, 2022 | 1,431,500) | (1,019,900) | (836,500) |
| Jan 30, 2021 | 2,716,300) | (889,700) | (949,900) |
| Feb 1, 2020 | 1,869,800) | (1,020,200) | (709,800) |
| Feb 2, 2019 | 1,766,000) | (816,700) | (1,599,900) |
| Feb 3, 2018 | 1,510,200) | (627,900) | (651,500) |
| Jan 28, 2017 | 1,673,300) | (483,600) | (1,060,500) |
| Jan 30, 2016 | 780,900) | (6,978,400) | 6,070,400) |
| Jan 31, 2015 | 926,800) | (315,000) | (14,600) |
| Feb 1, 2014 | 793,400) | (324,300) | (597,800) |
| Feb 2, 2013 | 677,700) | (261,300) | (303,400) |
| Jan 28, 2012 | 686,500) | (86,100) | (623,200) |
| Jan 29, 2011 | 518,700) | (374,100) | (404,300) |
| Jan 30, 2010 | 581,000) | (212,500) | (161,300) |
| Jan 31, 2009 | 403,100) | (102,000) | 22,700) |
| Feb 2, 2008 | 367,300) | (22,700) | (389,000) |
| Feb 3, 2007 | 412,800) | (190,700) | (202,900) |
| Jan 28, 2006 | 365,146) | (235,512) | (170,332) |
| Jan 29, 2005 | 276,489) | (315,407) | 61,260) |
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).
The operational cash flow exhibits a consistent long-term growth trajectory, increasing from 276.5 million in 2005 to a peak of 2.7 billion in 2021. This progression indicates a significant expansion in the capacity to generate cash from primary business activities over the seventeen-year period.
- Operating Cash Flow Trends
- A steady increase is observed from 2005 through 2015, followed by a substantial acceleration starting in 2017. Between 2017 and 2021, annual cash provided by operating activities frequently exceeded 1.5 billion, although a notable decline to 1.43 billion occurred in 2022.
- Investing Activity Patterns
- Investing activities remained consistently negative, reflecting continuous capital deployment. A singular, massive expenditure of approximately 6.98 billion occurred in 2016, which significantly deviated from the typical annual outflows that generally ranged between 22.7 million and 1.02 billion. Following 2016, investing outflows stabilized at a higher baseline, consistently exceeding 800 million annually from 2018 through 2022.
- Financing Activity Dynamics
- Financing activities were predominantly negative for the majority of the period, indicating a trend of debt repayment, share repurchases, or dividend distributions. A significant exception occurred in 2016, with a cash inflow of 6.07 billion. In the final five years of the data set, financing outflows remained substantial, with a peak of 1.6 billion in 2019.
The synchronization of the 2016 data points suggests a major strategic event, characterized by a large-scale acquisition funded through external financing. Following this event, the organization maintained a higher level of operational cash generation, which supported both increased capital expenditures and consistent outflows in financing activities.
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Per Share Data
Dollar Tree Inc., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Jan 29, 2022 | 5.83 | 5.80 | 0.00 |
| Jan 30, 2021 | 5.68 | 5.65 | 0.00 |
| Feb 1, 2020 | 3.49 | 3.47 | 0.00 |
| Feb 2, 2019 | -6.69 | -6.69 | 0.00 |
| Feb 3, 2018 | 7.24 | 7.21 | 0.00 |
| Jan 28, 2017 | 3.80 | 3.78 | 0.00 |
| Jan 30, 2016 | 1.27 | 1.26 | 0.00 |
| Jan 31, 2015 | 2.91 | 2.90 | 0.00 |
| Feb 1, 2014 | 2.74 | 2.72 | 0.00 |
| Feb 2, 2013 | 2.70 | 2.68 | 0.00 |
| Jan 28, 2012 | 2.03 | 2.01 | 0.00 |
| Jan 29, 2011 | 1.56 | 1.55 | 0.00 |
| Jan 30, 2010 | 1.20 | 1.19 | 0.00 |
| Jan 31, 2009 | 0.85 | 0.84 | 0.00 |
| Feb 2, 2008 | 0.70 | 0.70 | 0.00 |
| Feb 3, 2007 | 0.62 | 0.62 | 0.00 |
| Jan 28, 2006 | 0.54 | 0.54 | 0.00 |
| Jan 29, 2005 | 0.53 | 0.53 | 0.00 |
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, 2, 3 Data adjusted for splits and stock dividends.
Earnings per share exhibited a general upward trajectory over the majority of the period from 2005 to 2022, characterized by a sustained growth phase followed by a period of extreme volatility and a subsequent recovery.
- Earnings Per Share Growth and Volatility
- Basic earnings per share grew consistently from 0.53 US$ in 2005 to 2.91 US$ in 2015. A sharp contraction occurred in 2016, where Basic EPS fell to 1.27 US$. This was followed by a rapid increase, peaking at 7.24 US$ in 2018. A significant reversal took place in 2019, with Basic EPS dropping to -6.69 US$, marking a substantial per-share loss. Stability returned from 2020 onwards, with earnings recovering to 3.49 US$ and rising to 5.83 US$ by 2022.
- Dilution Impact
- Diluted earnings per share closely mirrored basic earnings per share throughout the entire observation period. The variance between the two figures remained minimal, indicating a low level of dilution from potential common shares, stock options, or convertible securities.
- Dividend Distribution
- No dividend payments per share were recorded between 2005 and 2022, suggesting a corporate strategy focused on the reinvestment of earnings into business operations and growth rather than shareholder distributions.
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