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Side-by-side financial comparison of Dollar Tree (DLTR) and NetEase, Inc. (NTES). Click either name above to swap in a different company.
Dollar Tree is the larger business by last-quarter revenue ($4.7B vs $4.0B, roughly 1.2× NetEase, Inc.). NetEase, Inc. runs the higher net margin — 31.0% vs 5.2%, a 25.9% gap on every dollar of revenue. NetEase, Inc. produced more free cash flow last quarter ($1.8B vs $-57.1M). Over the past eight quarters, NetEase, Inc.'s revenue compounded faster (9.7% 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.
NetEase, Inc. is a Chinese developer and publisher of online PC and mobile games, advertising services, email services, and e-commerce platforms. It is one of the largest Internet and video game companies in the world and was founded by Ding Lei in June 1997.
DLTR vs NTES — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $4.0B |
| Net Profit | $244.6M | $1.2B |
| Gross Margin | 35.8% | 64.1% |
| Operating Margin | 7.2% | 28.3% |
| Net Margin | 5.2% | 31.0% |
| Revenue YoY | -37.2% | — |
| Net Profit YoY | 4.8% | — |
| EPS (diluted) | $1.20 | — |
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 | — | ||
| Q3 25 | $4.6B | $4.0B | ||
| Q2 25 | $4.6B | $3.9B | ||
| Q1 25 | $5.0B | $4.0B | ||
| Q4 24 | $7.6B | — | ||
| Q3 24 | $7.4B | $3.7B | ||
| Q2 24 | $7.6B | $3.5B | ||
| Q1 24 | $8.6B | $3.7B |
| Q4 25 | $244.6M | — | ||
| Q3 25 | $188.4M | $1.2B | ||
| Q2 25 | $343.4M | $1.3B | ||
| Q1 25 | $-3.7B | $1.5B | ||
| Q4 24 | $233.3M | — | ||
| Q3 24 | $132.4M | $955.7M | ||
| Q2 24 | $300.1M | $939.6M | ||
| Q1 24 | $-1.7B | $1.1B |
| Q4 25 | 35.8% | — | ||
| Q3 25 | 34.4% | 64.1% | ||
| Q2 25 | 35.6% | 64.7% | ||
| Q1 25 | 37.6% | 64.1% | ||
| Q4 24 | 30.9% | — | ||
| Q3 24 | 30.0% | 62.9% | ||
| Q2 24 | 30.8% | 62.9% | ||
| Q1 24 | 32.1% | 63.4% |
| Q4 25 | 7.2% | — | ||
| Q3 25 | 5.1% | 28.3% | ||
| Q2 25 | 8.3% | 32.5% | ||
| Q1 25 | — | 36.2% | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 2.8% | 27.3% | ||
| Q2 24 | 5.5% | 27.4% | ||
| Q1 24 | -21.9% | 28.4% |
| Q4 25 | 5.2% | — | ||
| Q3 25 | 4.1% | 31.0% | ||
| Q2 25 | 7.4% | 32.6% | ||
| Q1 25 | -74.0% | 36.6% | ||
| Q4 24 | 3.1% | — | ||
| Q3 24 | 1.8% | 25.6% | ||
| Q2 24 | 3.9% | 26.8% | ||
| Q1 24 | -19.8% | 29.1% |
| Q4 25 | $1.20 | — | ||
| Q3 25 | $0.91 | — | ||
| Q2 25 | $1.61 | — | ||
| Q1 25 | $-17.17 | — | ||
| Q4 24 | $1.08 | — | ||
| Q3 24 | $0.62 | — | ||
| Q2 24 | $1.38 | — | ||
| Q1 24 | $-7.78 | — |
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 | $31.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.5B | $160.8B |
| Total Assets | $13.7B | $214.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $594.8M | — | ||
| Q3 25 | $666.3M | $31.3B | ||
| Q2 25 | $1.0B | $54.4B | ||
| Q1 25 | $1.3B | $41.7B | ||
| Q4 24 | $697.6M | — | ||
| Q3 24 | $570.3M | $20.2B | ||
| Q2 24 | $618.5M | $19.0B | ||
| Q1 24 | $684.9M | $43.0B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $3.4B | — |
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.6B | $160.8B | ||
| Q2 25 | $3.9B | $154.0B | ||
| Q1 25 | $4.0B | $147.8B | ||
| Q4 24 | $7.6B | — | ||
| Q3 24 | $7.4B | $135.6B | ||
| Q2 24 | $7.3B | $134.2B | ||
| Q1 24 | $7.3B | $130.5B |
| Q4 25 | $13.7B | — | ||
| Q3 25 | $13.4B | $214.5B | ||
| Q2 25 | $18.3B | $208.5B | ||
| Q1 25 | $18.6B | $200.9B | ||
| Q4 24 | $23.3B | — | ||
| Q3 24 | $22.6B | $184.9B | ||
| Q2 24 | $22.1B | $183.3B | ||
| Q1 24 | $22.0B | $195.1B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.47× | — |
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 | $1.8B |
| Free Cash FlowOCF − Capex | $-57.1M | $1.8B |
| FCF MarginFCF / Revenue | -1.2% | 44.7% |
| Capex IntensityCapex / Revenue | 7.9% | 1.0% |
| Cash ConversionOCF / Net Profit | 1.31× | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | $394.5M | $6.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $319.3M | — | ||
| Q3 25 | $260.7M | $1.8B | ||
| Q2 25 | $378.5M | $1.5B | ||
| Q1 25 | $405.1M | $1.7B | ||
| Q4 24 | $785.6M | — | ||
| Q3 24 | $306.9M | $1.5B | ||
| Q2 24 | $695.7M | $898.8M | ||
| Q1 24 | $1.3B | $1.3B |
| Q4 25 | $-57.1M | — | ||
| Q3 25 | $15.6M | $1.8B | ||
| Q2 25 | $129.7M | $1.5B | ||
| Q1 25 | $306.3M | $1.6B | ||
| Q4 24 | $359.2M | — | ||
| Q3 24 | $-193.8M | $1.5B | ||
| Q2 24 | $223.5M | $875.6M | ||
| Q1 24 | $470.8M | $1.3B |
| Q4 25 | -1.2% | — | ||
| Q3 25 | 0.3% | 44.7% | ||
| Q2 25 | 2.8% | 38.3% | ||
| Q1 25 | 6.1% | 40.4% | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | -2.6% | 38.9% | ||
| Q2 24 | 2.9% | 25.0% | ||
| Q1 24 | 5.5% | 34.0% |
| Q4 25 | 7.9% | — | ||
| Q3 25 | 5.4% | 1.0% | ||
| Q2 25 | 5.4% | 0.7% | ||
| Q1 25 | 2.0% | 1.6% | ||
| Q4 24 | 5.6% | — | ||
| Q3 24 | 6.8% | 1.4% | ||
| Q2 24 | 6.2% | 0.7% | ||
| Q1 24 | 9.1% | 1.5% |
| Q4 25 | 1.31× | — | ||
| Q3 25 | 1.38× | 1.47× | ||
| Q2 25 | 1.10× | 1.20× | ||
| Q1 25 | — | 1.15× | ||
| Q4 24 | 3.37× | — | ||
| Q3 24 | 2.32× | 1.58× | ||
| Q2 24 | 2.32× | 0.96× | ||
| Q1 24 | — | 1.22× |
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% |
NTES
| Games and related value-added services | $3.3B | 82% |
| NetEase Cloud Music | $275.9M | 7% |
| Youdao | $228.8M | 6% |
| Innovative businesses and others | $202.1M | 5% |
