Common-Size Income Statement
Quarterly Data
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- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Dollar Tree Inc., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05), 10-K (reporting date: 2018-02-03), 10-Q (reporting date: 2017-10-28), 10-Q (reporting date: 2017-07-29), 10-Q (reporting date: 2017-04-29), 10-K (reporting date: 2017-01-28), 10-Q (reporting date: 2016-10-29), 10-Q (reporting date: 2016-07-30), 10-Q (reporting date: 2016-04-30).
- Gross Profit and Cost of Sales
- Gross profit as a percentage of net sales generally fluctuated between approximately 28.5% and 33%, demonstrating some variability across the quarters. Notably, gross profit reached a peak of around 33.9% in April 2022, indicating improved cost management or pricing effectiveness in that quarter. Correspondingly, the cost of sales showed inverse movement, mostly ranging from -66% to -72%, with a notable trough in April 2022 at about -66.1%, signaling a reduction in cost burden during this period.
- Selling, General and Administrative Expenses
- These expenses largely maintained a range between approximately -21.5% and -24.5% of net sales, reflecting a relatively stable cost base in this category. There was an exceptional spike to about -65.4% in February 2019, coinciding with a significant goodwill impairment charge, which heavily affected the expense figures for that quarter. Aside from this outlier, expenses demonstrated moderate oscillations without a clear upward or downward trend.
- Operating Income (Loss)
- Operating income showed considerable volatility. Excluding the extreme loss in February 2019 (-34.61%), operating margins generally ranged from around 3.9% to 12%, with intermittent peaks such as 12.04% in February 2018 and 10.6% in April 2022. The data suggests that operating profitability was resilient despite fluctuations in gross profit and operating expenses, though occasional impairments had significant negative impacts.
- Interest Expense, Net
- Interest expenses were relatively stable and low, generally hovering between -0.45% and -1.7% of net sales. An anomaly occurred in February 2018 with a spike to -4.14%, which may indicate a one-time event or refinancing impact. Otherwise, this expense remained a minor portion of sales.
- Income Before Income Taxes and Net Income
- Income before taxes mirrored the patterns seen in operating income, with a similar sharp decline in February 2019 (-35.36%) likely driven by the impairment charge. Outside this quarter, income before taxes generally ranged between 3% and 10%, with several peaks above 9% during notable earnings quarters. Net income followed a consistent pattern, ranging mostly between about 3% and 7.8%, with a significant negative result in February 2019 (-37.18%), again aligned with extraordinary charges.
- Provision for Income Taxes
- The tax provision fluctuated across the periods, with percentages partly negative and partly positive. Most quarters showed a tax charge between -0.6% and -2.3%, except for a positive tax figure of 5.48% in February 2018, which suggests a tax benefit or adjustment during that quarter. The variability in this line item corresponds with fluctuations in pre-tax income and unusual items affecting taxable income.
- Exceptional Items
- The data highlights significant impairment losses recognized in certain periods, particularly goodwill impairment of -43.95% in November 2018 and -4.96% in February 2020. These non-recurring charges had an acute negative effect on profitability metrics and are responsible for the sharp deviations observed in those quarters. Additionally, a small receivable impairment occurred in October 2016 and February 2018, though its impact was minor relative to goodwill impairments.
- Other Revenue and Other Income (Expense), Net
- Other revenue was negligible, emerging near zero in recent quarters. Other income/expense was essentially minimal and fluctuated near zero, indicating these components did not materially influence financial outcomes during the periods analyzed.