One-glance verdict
Within fair range
$122.64 our estimate vs market $134.24
Wall Street consensus: $163.57 (33.4% higher than our fair-value estimate)
9% above our estimate
Fundamentals snapshot
DICK'S Sporting Goods, Inc.
DKS · NYQ · Consumer Cyclical · Specialty Retail
Current price
$134.24
52-week range
$120.40 - $244.38
Market cap
$11.94B
Balance sheet
Stretched
20.68x Strong cushion
Net debt $7.05B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Revenue grew 22.8% last year.
- Reward Returns 18.5% on equity, ahead of 33% of its peers.
- Risk Net debt grew 180.3% over 3 years.
- Risk Operating margin compressed from 12.0% to 7.7% over 3 years.
What this company does
DICK'S Sporting Goods, Inc.
DICK'S Sporting Goods is a large US retailer that sells sports equipment, clothing, and shoes through its well-known stores and website. The company makes most of its money by selling a wide variety of products to everyone from casual shoppers to serious athletes. By also owning specialty stores like Golf Galaxy and Public Lands, DICK'S aims to be the main destination for different types of sports and outdoor activities.
How the company got here
DICK'S Sporting Goods began in 1948 when 18-year-old Dick Stack, an avid fisherman, started a small bait-and-tackle shop in Binghamton, New York, with $300 borrowed from his grandmother. By the 1980s, his son, Ed Stack, took over and began transforming the business into a large chain of sporting goods superstores. The company expanded beyond its roots in the Eastern U.S., opened its 100th store in the early 2000s, and became a publicly traded company in 2002. Through key acquisitions of other retailers like Golf Galaxy and, more recently, Moosejaw, the company has grown into the largest sporting goods retailer in the United States.
What it actually does
DICK'S is a retail store, both online and physical, that sells a wide variety of sports equipment, clothing, and footwear for just about any sport or outdoor activity. Think of it as a one-stop-shop where you can buy everything from a baseball glove for a little leaguer, to a new pair of running shoes, to a kayak for a weekend trip. They sell well-known brands like Nike and Adidas, but also have their own private brands for apparel and equipment. Many of their larger stores also offer services like letting you test a golf club in a driving range before you buy it.
DICK'S Sporting Goods Stores
This is the company's main and largest business, operating under the familiar DICK'S Sporting Goods name. These are large retail stores that sell a broad range of sporting goods, including equipment (like baseball bats and fitness machines), apparel (jerseys and workout clothes), and footwear (sneakers and cleats). This segment makes money by selling these goods directly to customers and represents the vast majority of the company's business. They also sell their own exclusive product lines, like CALIA and DSG, which gives them more control over product design and pricing.
Specialty Concept Stores
This part of the business includes several smaller, more focused retail brands that cater to specific activities. Golf Galaxy, for example, is a store just for golf equipment and apparel, while Public Lands is a newer concept focused on outdoor activities like camping and hiking. The company also operates discount stores called "Going Going Gone!". These specialty stores allow the company to attract customers with very specific interests and make up a smaller but important part of the overall business.
Digital and Other
This segment includes all of the company's online sales through its websites and mobile apps, which have become a significant part of the business. It also includes a youth sports technology platform called GameChanger, a mobile app for teams to handle scheduling, scorekeeping, and live streaming. While retail sales from stores are the biggest money-maker, this digital side of the business is a key area of growth and investment for the company.
What management is betting on now
The company is heavily investing in creating more engaging and interactive shopping experiences. A key part of this strategy is expanding its "House of Sport" concept stores, which are much larger than typical stores and feature things like rock-climbing walls and outdoor turf fields for customers to try out gear. Management believes these experiential stores will drive more customer traffic and build a stronger community around the brand. They are also focused on growing their online business and making the connection between their physical stores and digital platforms seamless for shoppers, for example, by allowing customers to buy online and pick up their order in a store within an hour.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q4
$-139.31M
FY2026 Q1
$394.53M
FY2026 Q2
$-86.68M
FY2026 Q3
$296.24M
FY2026 Q4
$-515.59M
FY2027 Q2
$-84.23M
FY2027 Q3
$133.03M
Revenue
$5.59B
Net income
$315.46M
Diluted EPS
3.50
Operating cash flow
$515.76M
Free cash flow
$133.03M
Fetching…
Sources
Revenue
$5.16B
Net income
$319.82M
Diluted EPS
3.54
Operating cash flow
$276.52M
Free cash flow
$-84.23M
Fetching…
Sources
Revenue
$4.17B
Net income
$75.21M
Diluted EPS
0.86
Operating cash flow
$-248.36M
Free cash flow
$-515.59M
Fetching…
Sources
Revenue
$3.65B
Net income
$381.40M
Diluted EPS
4.71
Operating cash flow
$557.60M
Free cash flow
$296.24M
Fetching…
Sources
Revenue
$3.17B
Net income
$264.29M
Diluted EPS
3.24
Operating cash flow
$178.05M
Free cash flow
$-86.68M
Fetching…
Sources
Revenue
$3.89B
Net income
$299.97M
Diluted EPS
3.63
Operating cash flow
$631.53M
Free cash flow
$394.53M
Fetching…
Sources
Revenue
$3.06B
Net income
$227.81M
Diluted EPS
2.75
Operating cash flow
$54.16M
Free cash flow
$-139.31M
Fetching…
Sources
Is it cheap or expensive?
Fair value $122.64 vs current price $134.24
Wall Street consensus is the average analyst price target: $163.57 (33.4% higher than our fair-value estimate).
Our most-likely fair value is $122.64 a share — about 8.6% away from today's price of $134.24, so the stock currently looks fairly priced.
Is it drowning in debt?
Stretched
Net debt $7.0B. Interest coverage 20.7x.
Net debt
$7.05B
Interest coverage
20.68x
DICK'S Sporting Goods, Inc.'s profit covers its interest bill about 20.7 times over. which is stronger than every peer shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Stretched
Worse cushion
Baseline
Better cushion
DKS
BASELINE
DICK'S Sporting Goods, Inc.
Total debt $7.96B Interest coverage 20.68x This is the baseline the peer rows are being compared against.
Total debt $1.97B Interest coverage 14.14x -32% vs DKS Carries about 1.5x less debt cushion than DKS.
Total debt $509.20M Interest coverage -1.02x -100% vs DKS This peer has almost no interest-payment cushion compared with DKS.
What you should know
The case for and against DKS
3 Rewards
2 Risks
Rewards
-
Revenue grew 22.8% last year.
-
Returns 18.5% on equity, ahead of 33% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Net debt grew 180.3% over 3 years.
-
Operating margin compressed from 12.0% to 7.7% over 3 years.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
14.82x
Forward P/E
10.00x
P/B
2.09x
P/S
0.56x
EV/EBITDA
9.08x
PEG ratio
1.01x
Profitability
How much profit each dollar creates
Gross margin
33.1%
Operating margin
7.7%
Net margin
4.0%
ROE
18.5%
ROA
6.4%
Health
Liquidity and balance-sheet strength
Debt / equity
1.39x
Current ratio
1.49x
Quick ratio
0.30x
Total debt
$7.96B
Total cash
$913.74M
Growth
How the business has been compounding
Revenue TTM
$21.15B
Revenue 5Y CAGR
8.8%
EPS TTM
9.06
EPS 5Y CAGR
-2.6%
Cash flow
How much cash the business throws off
Operating CF TTM
$1.59B
Free CF TTM
$400.17M
FCF margin
1.9%
Dividend
Shareholder payout
Yield
3.8%
Payout ratio
54.4%
Last ex-div date
2026-09-11