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Side-by-side financial comparison of Dollar Tree (DLTR) and Macy's, Inc. (M). Click either name above to swap in a different company.
Dollar Tree is the larger business by last-quarter revenue ($4.7B vs $4.7B, roughly 1.0× Macy's, Inc.). Dollar Tree runs the higher net margin — 5.2% vs 0.2%, a 4.9% gap on every dollar of revenue. On growth, Macy's, Inc. posted the faster year-over-year revenue change (-0.6% vs -37.2%). Dollar Tree produced more free cash flow last quarter ($-57.1M vs $-101.0M). Over the past eight quarters, Macy's, Inc.'s revenue compounded faster (-23.8% CAGR vs -25.9%).
Dollar Tree, Inc., formerly known as Dollar Tree Stores, Inc., is an American multi-price-point chain of discount variety stores. Headquartered in Chesapeake, Virginia, it is a Fortune 500 company and operates 15,115 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics network of 24 distribution centers.
Macy's, Inc. is an American holding company of department stores. Upon its establishment in 1929, Federated held ownership of the regional department store chains Abraham & Straus, Lazarus, Filene's, and Shillito's. Bloomingdale's joined Federated Department Stores the next year. Throughout its early history, frequent acquisitions and divestitures saw the company operate a number of nameplates. In 1994, Federated took over Macy's, the old department store chain originally founded in 1858 by A...
DLTR vs M — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $4.7B |
| Net Profit | $244.6M | $11.0M |
| Gross Margin | 35.8% | 39.4% |
| Operating Margin | 7.2% | 0.9% |
| Net Margin | 5.2% | 0.2% |
| Revenue YoY | -37.2% | -0.6% |
| Net Profit YoY | 4.8% | -60.7% |
| EPS (diluted) | $1.20 | $0.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $4.7B | $4.7B | ||
| Q3 25 | $4.6B | $4.8B | ||
| Q2 25 | $4.6B | $4.6B | ||
| Q1 25 | $5.0B | $7.8B | ||
| Q4 24 | $7.6B | $4.7B | ||
| Q3 24 | $7.4B | $4.9B | ||
| Q2 24 | $7.6B | $4.8B | ||
| Q1 24 | $8.6B | $8.1B |
| Q4 25 | $244.6M | $11.0M | ||
| Q3 25 | $188.4M | $87.0M | ||
| Q2 25 | $343.4M | $38.0M | ||
| Q1 25 | $-3.7B | $342.0M | ||
| Q4 24 | $233.3M | $28.0M | ||
| Q3 24 | $132.4M | $150.0M | ||
| Q2 24 | $300.1M | $62.0M | ||
| Q1 24 | $-1.7B | $-71.0M |
| Q4 25 | 35.8% | 39.4% | ||
| Q3 25 | 34.4% | 39.7% | ||
| Q2 25 | 35.6% | 39.2% | ||
| Q1 25 | 37.6% | 35.7% | ||
| Q4 24 | 30.9% | 39.6% | ||
| Q3 24 | 30.0% | 40.5% | ||
| Q2 24 | 30.8% | 39.2% | ||
| Q1 24 | 32.1% | 37.5% |
| Q4 25 | 7.2% | 0.9% | ||
| Q3 25 | 5.1% | 3.1% | ||
| Q2 25 | 8.3% | 2.0% | ||
| Q1 25 | — | 6.4% | ||
| Q4 24 | 4.4% | 1.3% | ||
| Q3 24 | 2.8% | 4.5% | ||
| Q2 24 | 5.5% | 2.6% | ||
| Q1 24 | -21.9% | -0.9% |
| Q4 25 | 5.2% | 0.2% | ||
| Q3 25 | 4.1% | 1.8% | ||
| Q2 25 | 7.4% | 0.8% | ||
| Q1 25 | -74.0% | 4.4% | ||
| Q4 24 | 3.1% | 0.6% | ||
| Q3 24 | 1.8% | 3.0% | ||
| Q2 24 | 3.9% | 1.3% | ||
| Q1 24 | -19.8% | -0.9% |
| Q4 25 | $1.20 | $0.04 | ||
| Q3 25 | $0.91 | $0.31 | ||
| Q2 25 | $1.61 | $0.13 | ||
| Q1 25 | $-17.17 | $1.22 | ||
| Q4 24 | $1.08 | $0.10 | ||
| Q3 24 | $0.62 | $0.53 | ||
| Q2 24 | $1.38 | $0.22 | ||
| Q1 24 | $-7.78 | $-0.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $594.8M | $447.0M |
| Total DebtLower is stronger | — | $2.4B |
| Stockholders' EquityBook value | $3.5B | $4.3B |
| Total Assets | $13.7B | $17.1B |
| Debt / EquityLower = less leverage | — | 0.56× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $594.8M | $447.0M | ||
| Q3 25 | $666.3M | $829.0M | ||
| Q2 25 | $1.0B | $932.0M | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $697.6M | $315.0M | ||
| Q3 24 | $570.3M | $646.0M | ||
| Q2 24 | $618.5M | $876.0M | ||
| Q1 24 | $684.9M | $1.0B |
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | $3.4B | $2.8B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | $3.4B | $3.0B |
| Q4 25 | $3.5B | $4.3B | ||
| Q3 25 | $3.6B | $4.5B | ||
| Q2 25 | $3.9B | $4.5B | ||
| Q1 25 | $4.0B | $4.6B | ||
| Q4 24 | $7.6B | $4.1B | ||
| Q3 24 | $7.4B | $4.3B | ||
| Q2 24 | $7.3B | $4.2B | ||
| Q1 24 | $7.3B | $4.1B |
| Q4 25 | $13.7B | $17.1B | ||
| Q3 25 | $13.4B | $15.6B | ||
| Q2 25 | $18.3B | $16.1B | ||
| Q1 25 | $18.6B | $16.4B | ||
| Q4 24 | $23.3B | $17.3B | ||
| Q3 24 | $22.6B | $15.8B | ||
| Q2 24 | $22.1B | $16.4B | ||
| Q1 24 | $22.0B | $16.2B |
| Q4 25 | — | 0.56× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | 0.86× | 0.61× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.72× | ||
| Q1 24 | 0.47× | 0.72× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $319.3M | $-8.0M |
| Free Cash FlowOCF − Capex | $-57.1M | $-101.0M |
| FCF MarginFCF / Revenue | -1.2% | -2.1% |
| Capex IntensityCapex / Revenue | 7.9% | 2.0% |
| Cash ConversionOCF / Net Profit | 1.31× | -0.73× |
| TTM Free Cash FlowTrailing 4 quarters | $394.5M | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $319.3M | $-8.0M | ||
| Q3 25 | $260.7M | $319.0M | ||
| Q2 25 | $378.5M | $-64.0M | ||
| Q1 25 | $405.1M | $1.3B | ||
| Q4 24 | $785.6M | $-167.0M | ||
| Q3 24 | $306.9M | $8.0M | ||
| Q2 24 | $695.7M | $129.0M | ||
| Q1 24 | $1.3B | $1.1B |
| Q4 25 | $-57.1M | $-101.0M | ||
| Q3 25 | $15.6M | $240.0M | ||
| Q2 25 | $129.7M | $-164.0M | ||
| Q1 25 | $306.3M | $1.2B | ||
| Q4 24 | $359.2M | $-295.0M | ||
| Q3 24 | $-193.8M | $-109.0M | ||
| Q2 24 | $223.5M | $-25.0M | ||
| Q1 24 | $470.8M | $1.0B |
| Q4 25 | -1.2% | -2.1% | ||
| Q3 25 | 0.3% | 5.0% | ||
| Q2 25 | 2.8% | -3.6% | ||
| Q1 25 | 6.1% | 15.3% | ||
| Q4 24 | 4.8% | -6.2% | ||
| Q3 24 | -2.6% | -2.2% | ||
| Q2 24 | 2.9% | -0.5% | ||
| Q1 24 | 5.5% | 12.3% |
| Q4 25 | 7.9% | 2.0% | ||
| Q3 25 | 5.4% | 1.6% | ||
| Q2 25 | 5.4% | 2.2% | ||
| Q1 25 | 2.0% | 1.5% | ||
| Q4 24 | 5.6% | 2.7% | ||
| Q3 24 | 6.8% | 2.4% | ||
| Q2 24 | 6.2% | 3.2% | ||
| Q1 24 | 9.1% | 1.8% |
| Q4 25 | 1.31× | -0.73× | ||
| Q3 25 | 1.38× | 3.67× | ||
| Q2 25 | 1.10× | -1.68× | ||
| Q1 25 | — | 3.82× | ||
| Q4 24 | 3.37× | -5.96× | ||
| Q3 24 | 2.32× | 0.05× | ||
| Q2 24 | 2.32× | 2.08× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLTR
| Consumable | $2.4B | 50% |
| Variety | $2.1B | 43% |
| Seasonal | $344.1M | 7% |
M
| Womens Accessories Shoes Cosmetics And Fragrances | $1.9B | 41% |
| Womens Apparel | $1.1B | 23% |
| Mens And Kids | $1.0B | 22% |
| Home Other | $638.0M | 14% |
| Credit Card Revenues Net | $158.0M | 3% |
| Macys Media Network Revenue Net | $42.0M | 1% |
