Intrinsic value of Dollar General - DG

Previous Close

$83.61

  Intrinsic Value

$96.69

stock screener

  Rating & Target

hold

+16%

  Value-price divergence*

+4%

Previous close

$83.61

 
Intrinsic value

$96.69

 
Up/down potential

+16%

 
Rating

hold

 
Value-price divergence*

+4%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of DG stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 23.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  7.94
  7.90
  7.61
  7.35
  7.11
  6.90
  6.71
  6.54
  6.39
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
Revenue, $m
  21,987
  23,724
  25,529
  27,406
  29,355
  31,381
  33,488
  35,678
  37,957
  40,329
  42,798
  45,371
  48,053
  50,849
  53,766
  56,811
  59,991
  63,313
  66,785
  70,415
  74,211
  78,183
  82,341
  86,693
  91,250
  96,024
  101,025
  106,266
  111,758
  117,515
  123,552
Variable operating expenses, $m
 
  21,436
  23,034
  24,695
  26,421
  28,215
  30,080
  32,019
  34,036
  36,136
  38,322
  40,166
  42,539
  45,015
  47,597
  50,293
  53,108
  56,049
  59,122
  62,336
  65,697
  69,213
  72,893
  76,746
  80,781
  85,007
  89,434
  94,073
  98,935
  104,032
  109,376
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  19,923
  21,436
  23,034
  24,695
  26,421
  28,215
  30,080
  32,019
  34,036
  36,136
  38,322
  40,166
  42,539
  45,015
  47,597
  50,293
  53,108
  56,049
  59,122
  62,336
  65,697
  69,213
  72,893
  76,746
  80,781
  85,007
  89,434
  94,073
  98,935
  104,032
  109,376
Operating income, $m
  2,063
  2,288
  2,495
  2,710
  2,934
  3,167
  3,408
  3,660
  3,921
  4,193
  4,477
  5,206
  5,513
  5,834
  6,169
  6,518
  6,883
  7,264
  7,662
  8,079
  8,515
  8,970
  9,447
  9,947
  10,470
  11,017
  11,591
  12,192
  12,822
  13,483
  14,176
EBITDA, $m
  2,443
  2,906
  3,127
  3,356
  3,595
  3,843
  4,101
  4,370
  4,649
  4,939
  5,242
  5,557
  5,885
  6,228
  6,585
  6,958
  7,347
  7,754
  8,179
  8,624
  9,089
  9,575
  10,085
  10,618
  11,176
  11,761
  12,373
  13,015
  13,688
  14,393
  15,132
Interest expense (income), $m
  93
  106
  122
  140
  158
  177
  197
  217
  238
  260
  283
  307
  332
  358
  385
  413
  442
  473
  505
  539
  574
  611
  649
  689
  731
  775
  822
  870
  921
  974
  1,029
Earnings before tax, $m
  1,966
  2,182
  2,373
  2,571
  2,776
  2,990
  3,212
  3,443
  3,683
  3,933
  4,194
  4,899
  5,182
  5,476
  5,784
  6,105
  6,441
  6,791
  7,157
  7,540
  7,941
  8,360
  8,798
  9,257
  9,738
  10,242
  10,770
  11,322
  11,902
  12,509
  13,146
Tax expense, $m
  715
  589
  641
  694
  750
  807
  867
  930
  994
  1,062
  1,132
  1,323
  1,399
  1,479
  1,562
  1,648
  1,739
  1,834
  1,932
  2,036
  2,144
  2,257
  2,376
  2,500
  2,629
  2,765
  2,908
  3,057
  3,214
  3,378
  3,550
Net income, $m
  1,251
  1,593
  1,732
  1,876
  2,027
  2,182
  2,345
  2,513
  2,689
  2,871
  3,061
  3,576
  3,783
  3,998
  4,222
  4,457
  4,702
  4,957
  5,225
  5,504
  5,797
  6,103
  6,423
  6,758
  7,109
  7,477
  7,862
  8,265
  8,688
  9,132
  9,597

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  188
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  11,672
  12,388
  13,331
  14,311
  15,329
  16,387
  17,487
  18,631
  19,821
  21,059
  22,349
  23,693
  25,093
  26,553
  28,076
  29,666
  31,327
  33,062
  34,874
  36,770
  38,753
  40,827
  42,998
  45,270
  47,650
  50,143
  52,755
  55,491
  58,359
  61,366
  64,518
Adjusted assets (=assets-cash), $m
  11,484
  12,388
  13,331
  14,311
  15,329
  16,387
  17,487
  18,631
  19,821
  21,059
  22,349
  23,693
  25,093
  26,553
  28,076
  29,666
  31,327
  33,062
  34,874
  36,770
  38,753
  40,827
  42,998
  45,270
  47,650
  50,143
  52,755
  55,491
  58,359
  61,366
  64,518
Revenue / Adjusted assets
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
  1.915
Average production assets, $m
  3,550
  3,820
  4,110
  4,412
  4,726
  5,052
  5,392
  5,744
  6,111
  6,493
  6,891
  7,305
  7,736
  8,187
  8,656
  9,147
  9,659
  10,193
  10,752
  11,337
  11,948
  12,588
  13,257
  13,958
  14,691
  15,460
  16,265
  17,109
  17,993
  18,920
  19,892
Working capital, $m
  1,055
  1,471
  1,583
  1,699
  1,820
  1,946
  2,076
  2,212
  2,353
  2,500
  2,654
  2,813
  2,979
  3,153
  3,333
  3,522
  3,719
  3,925
  4,141
  4,366
  4,601
  4,847
  5,105
  5,375
  5,658
  5,953
  6,264
  6,588
  6,929
  7,286
  7,660
Total debt, $m
  3,212
  3,500
  3,998
  4,517
  5,055
  5,615
  6,197
  6,802
  7,431
  8,086
  8,769
  9,479
  10,220
  10,992
  11,798
  12,640
  13,518
  14,436
  15,395
  16,397
  17,446
  18,543
  19,692
  20,894
  22,153
  23,472
  24,853
  26,301
  27,818
  29,409
  31,076
Total liabilities, $m
  6,266
  6,554
  7,052
  7,571
  8,109
  8,669
  9,251
  9,856
  10,485
  11,140
  11,823
  12,533
  13,274
  14,046
  14,852
  15,694
  16,572
  17,490
  18,449
  19,451
  20,500
  21,597
  22,746
  23,948
  25,207
  26,526
  27,907
  29,355
  30,872
  32,463
  34,130
Total equity, $m
  5,406
  5,835
  6,279
  6,740
  7,220
  7,718
  8,236
  8,775
  9,336
  9,919
  10,526
  11,159
  11,819
  12,506
  13,224
  13,973
  14,755
  15,572
  16,426
  17,319
  18,252
  19,229
  20,252
  21,322
  22,443
  23,617
  24,847
  26,136
  27,487
  28,903
  30,388
Total liabilities and equity, $m
  11,672
  12,389
  13,331
  14,311
  15,329
  16,387
  17,487
  18,631
  19,821
  21,059
  22,349
  23,692
  25,093
  26,552
  28,076
  29,667
  31,327
  33,062
  34,875
  36,770
  38,752
  40,826
  42,998
  45,270
  47,650
  50,143
  52,754
  55,491
  58,359
  61,366
  64,518
Debt-to-equity ratio
  0.594
  0.600
  0.640
  0.670
  0.700
  0.730
  0.750
  0.780
  0.800
  0.820
  0.830
  0.850
  0.860
  0.880
  0.890
  0.900
  0.920
  0.930
  0.940
  0.950
  0.960
  0.960
  0.970
  0.980
  0.990
  0.990
  1.000
  1.010
  1.010
  1.020
  1.020
Adjusted equity ratio
  0.454
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,251
  1,593
  1,732
  1,876
  2,027
  2,182
  2,345
  2,513
  2,689
  2,871
  3,061
  3,576
  3,783
  3,998
  4,222
  4,457
  4,702
  4,957
  5,225
  5,504
  5,797
  6,103
  6,423
  6,758
  7,109
  7,477
  7,862
  8,265
  8,688
  9,132
  9,597
Depreciation, amort., depletion, $m
  380
  618
  632
  646
  661
  677
  693
  710
  728
  746
  765
  351
  372
  394
  416
  440
  464
  490
  517
  545
  574
  605
  637
  671
  706
  743
  782
  823
  865
  910
  956
Funds from operations, $m
  1,533
  2,211
  2,364
  2,523
  2,688
  2,859
  3,038
  3,223
  3,416
  3,617
  3,826
  3,927
  4,154
  4,391
  4,639
  4,897
  5,166
  5,448
  5,742
  6,049
  6,371
  6,708
  7,060
  7,429
  7,815
  8,220
  8,644
  9,088
  9,553
  10,042
  10,553
Change in working capital, $m
  -72
  108
  112
  116
  121
  126
  131
  136
  141
  147
  153
  160
  166
  173
  181
  189
  197
  206
  215
  225
  235
  246
  258
  270
  283
  296
  310
  325
  341
  357
  374
Cash from operations, $m
  1,605
  2,103
  2,252
  2,406
  2,567
  2,734
  2,907
  3,087
  3,275
  3,470
  3,673
  3,768
  3,988
  4,218
  4,458
  4,708
  4,969
  5,242
  5,526
  5,824
  6,136
  6,461
  6,802
  7,159
  7,533
  7,924
  8,334
  8,763
  9,213
  9,685
  10,179
Maintenance CAPEX, $m
  0
  -171
  -184
  -198
  -212
  -227
  -243
  -259
  -276
  -294
  -312
  -331
  -351
  -372
  -394
  -416
  -440
  -464
  -490
  -517
  -545
  -574
  -605
  -637
  -671
  -706
  -743
  -782
  -823
  -865
  -910
New CAPEX, $m
  -560
  -270
  -291
  -302
  -314
  -326
  -339
  -353
  -367
  -382
  -398
  -414
  -432
  -450
  -470
  -490
  -512
  -535
  -559
  -584
  -611
  -640
  -669
  -701
  -734
  -769
  -805
  -844
  -884
  -927
  -972
Cash from investing activities, $m
  -551
  -441
  -475
  -500
  -526
  -553
  -582
  -612
  -643
  -676
  -710
  -745
  -783
  -822
  -864
  -906
  -952
  -999
  -1,049
  -1,101
  -1,156
  -1,214
  -1,274
  -1,338
  -1,405
  -1,475
  -1,548
  -1,626
  -1,707
  -1,792
  -1,882
Free cash flow, $m
  1,054
  1,663
  1,777
  1,907
  2,041
  2,180
  2,325
  2,476
  2,632
  2,795
  2,964
  3,022
  3,205
  3,396
  3,594
  3,801
  4,017
  4,242
  4,477
  4,723
  4,979
  5,248
  5,528
  5,821
  6,128
  6,449
  6,785
  7,137
  7,506
  7,893
  8,297
Issuance/(repayment) of debt, $m
  236
  476
  499
  518
  539
  560
  582
  605
  629
  655
  682
  711
  741
  772
  806
  841
  878
  918
  959
  1,003
  1,049
  1,097
  1,148
  1,202
  1,259
  1,319
  1,382
  1,448
  1,517
  1,590
  1,667
Issuance/(repurchase) of shares, $m
  -990
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -743
  476
  499
  518
  539
  560
  582
  605
  629
  655
  682
  711
  741
  772
  806
  841
  878
  918
  959
  1,003
  1,049
  1,097
  1,148
  1,202
  1,259
  1,319
  1,382
  1,448
  1,517
  1,590
  1,667
Total cash flow (excl. dividends), $m
  311
  2,138
  2,276
  2,425
  2,579
  2,740
  2,907
  3,081
  3,261
  3,450
  3,646
  3,733
  3,946
  4,168
  4,400
  4,643
  4,896
  5,160
  5,437
  5,726
  6,028
  6,345
  6,676
  7,023
  7,387
  7,768
  8,167
  8,585
  9,023
  9,483
  9,965
Retained Cash Flow (-), $m
  -28
  -429
  -444
  -461
  -480
  -498
  -518
  -539
  -560
  -583
  -607
  -633
  -660
  -688
  -718
  -749
  -782
  -817
  -854
  -893
  -934
  -977
  -1,022
  -1,070
  -1,121
  -1,174
  -1,230
  -1,289
  -1,351
  -1,416
  -1,485
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  1,709
  1,832
  1,963
  2,100
  2,242
  2,389
  2,542
  2,701
  2,866
  3,038
  3,100
  3,287
  3,481
  3,683
  3,894
  4,113
  4,343
  4,583
  4,833
  5,094
  5,368
  5,654
  5,953
  6,266
  6,594
  6,937
  7,296
  7,672
  8,067
  8,480
Discount rate, %
 
  4.90
  5.15
  5.40
  5.67
  5.96
  6.25
  6.57
  6.89
  7.24
  7.60
  7.98
  8.38
  8.80
  9.24
  9.70
  10.19
  10.70
  11.23
  11.79
  12.38
  13.00
  13.65
  14.33
  15.05
  15.80
  16.59
  17.42
  18.29
  19.21
  20.17
PV of cash for distribution, $m
 
  1,629
  1,657
  1,677
  1,684
  1,679
  1,660
  1,629
  1,584
  1,528
  1,460
  1,332
  1,251
  1,163
  1,069
  971
  871
  772
  675
  581
  493
  412
  339
  273
  217
  168
  128
  95
  70
  49
  34
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Dollar General Corporation is a discount retailer. The Company offers a selection of merchandise, including consumables, seasonal, home products and apparel. The Company's consumables category includes paper and cleaning products (such as paper towels, bath tissue, and other home cleaning supplies); packaged food (such as cereals, spices, sugar and flour); perishables (such as milk, beer and wine); snacks (such as candy, cookies, and carbonated beverages); health and beauty (such as over-the-counter medicines and personal care products); pet (pet supplies and pet food), and tobacco products. Its seasonal products include decorations, toys, batteries, stationery, prepaid phones and accessories, and home office supplies. Its home products include cookware, craft supplies and kitchen, and bed and bath soft goods. Its apparel products include casual everyday apparel for infants, toddlers, girls, boys, women and men, as well as socks, underwear, disposable diapers, shoes and accessories.

FINANCIAL RATIOS  of  Dollar General (DG)

Valuation Ratios
P/E Ratio 18.4
Price to Sales 1
Price to Book 4.3
Price to Tangible Book
Price to Cash Flow 14.3
Price to Free Cash Flow 22
Growth Rates
Sales Growth Rate 7.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 10.9%
Cap. Spend. - 3 Yr. Gr. Rate 0.8%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 50.1%
Total Debt to Equity 59.4%
Interest Coverage 22
Management Effectiveness
Return On Assets 11.4%
Ret/ On Assets - 3 Yr. Avg. 10.8%
Return On Total Capital 14.7%
Ret/ On T. Cap. - 3 Yr. Avg. 13.8%
Return On Equity 23.2%
Return On Equity - 3 Yr. Avg. 21.1%
Asset Turnover 1.9
Profitability Ratios
Gross Margin 30.9%
Gross Margin - 3 Yr. Avg. 30.8%
EBITDA Margin 11.1%
EBITDA Margin - 3 Yr. Avg. 11.1%
Operating Margin 9.4%
Oper. Margin - 3 Yr. Avg. 9.4%
Pre-Tax Margin 8.9%
Pre-Tax Margin - 3 Yr. Avg. 9%
Net Profit Margin 5.7%
Net Profit Margin - 3 Yr. Avg. 5.7%
Effective Tax Rate 36.4%
Eff/ Tax Rate - 3 Yr. Avg. 36.7%
Payout Ratio 22.5%

DG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DG stock intrinsic value calculation we used $21987 million for the last fiscal year's total revenue generated by Dollar General. The default revenue input number comes from 2017 income statement of Dollar General. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our DG stock valuation model: a) initial revenue growth rate of 7.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.9%, whose default value for DG is calculated based on our internal credit rating of Dollar General, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Dollar General.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of DG stock the variable cost ratio is equal to 90.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for DG stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Dollar General.

Corporate tax rate of 27% is the nominal tax rate for Dollar General. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the DG stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for DG are equal to 16.1%.

Life of production assets of 20.8 years is the average useful life of capital assets used in Dollar General operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for DG is equal to 6.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $5406 million for Dollar General - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 281.447 million for Dollar General is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Dollar General at the current share price and the inputted number of shares is $23.5 billion.

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COMPANY NEWS

▶ Dollar General Hits a Gold Mine in Rural America   [Oct-11-17 04:00AM  Bloomberg]
▶ Dollar General Trying To Close In On Key Technical Measure   [03:00AM  Investor's Business Daily]
▶ How Kroger Co (KR) Stock Can Get Out of the Bargain Bin   [Oct-03-17 11:15AM  InvestorPlace]
▶ Why Dollar General Stock Rose 12% in September   [Oct-02-17 04:29PM  Motley Fool]
▶ 3 Dividend Stocks That Thrive in Market Crashes   [Sep-30-17 03:30PM  Motley Fool]
▶ Should You Sell Dollar General Corporation (DG) At $80.02?   [Sep-29-17 01:22PM  Simply Wall St.]
▶ Dollar General Trying To Close In On Key Technical Benchmark   [Sep-26-17 03:00AM  Investor's Business Daily]
▶ Kohls once again teams up with Amazon   [Sep-19-17 01:39PM  Yahoo Finance Video]
▶ Dollar Tree promotes Gary Philbin to CEO   [Sep-18-17 11:22AM  Reuters]
▶ Bezos in Boston: Inside Amazon's search for a second home   [Sep-13-17 12:57PM  Yahoo Finance Video]
▶ Caseys Didnt Meet Analysts Top-Line Expectations   [Sep-07-17 12:23PM  Market Realist]
▶ Whats Happening to Dollar Generals Margins?   [04:36PM  Market Realist]
▶ Behind Dollar Generals Fiscal 2Q17 Top Line   [03:06PM  Market Realist]
▶ Dollar Generals Fiscal 2Q17 Earnings Overview   [01:27PM  Market Realist]
▶ 2 Important Rules for Selling Put Options   [Sep-03-17 02:00PM  TheStreet.com]
▶ Dollar General Reports 2nd Quarter   [04:53PM  GuruFocus.com]
▶ Company News For Sep 1, 2017   [10:36AM  Zacks]
▶ Dollar General beats Street 2Q forecasts   [Aug-31-17 09:28PM  Associated Press]
▶ The Blitz: Soup to nuts   [01:37PM  CNBC Videos]
▶ Quarterly Results Propel Declines   [12:45PM  GuruFocus.com]
▶ Dollar General: Blame Dollar Tree?   [10:29AM  Barrons.com]
▶ Stocks Jump At Open; This China Tech Name Leads The IBD 50   [09:39AM  Investor's Business Daily]
▶ Five Below Beats Q2 Views On Fidget Spinner Fad, Lifts Outlook   [04:31PM  Investor's Business Daily]
▶ Ollie's Bargain Outlet Beats Q2 Forecasts But Stock Drifts From Buy Point   [Aug-29-17 04:31PM  Investor's Business Daily]
▶ Dollar General Celebrates 14,000th Store Grand Opening   [Aug-19-17 12:24PM  Business Wire]
Financial statements of DG
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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