Dick's Sporting Goods
DKS NYSE Specialty Stores Financials FY2016–FY2025
Dick's Sporting Goods' revenue rose 28.1% to $17.2 billion in fiscal 2025. Its operating margin was 6.4%, down from 11.0% a year earlier. Free cash flow was $400 million, down 21.4%. It paid out $761 million in dividends and buybacks, 190% of free cash flow. The diluted share count rose 2.7%.
About these figures. Dick's tags its senior notes and its convertible notes separately, with no total for the years it had both, and some years' debt only under other labels, so debt and debt-based ratios are left blank.
What Dick's Sporting Goods does
Dick's Sporting Goods is a sports retailer. It sells sports equipment, apparel, footwear and accessories through stores and online. Its banners include Dick's Sporting Goods, Golf Galaxy, Public Lands and Going Going Gone!, plus larger "experience" stores such as House of Sport. It also owns GameChanger, a subscription app for live streaming, scheduling and scorekeeping in youth sports.
In fiscal 2025 it bought Foot Locker, which sells sneakers and athletic apparel under the Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos names in North America, Europe, Asia and Australia. The company now reports two segments, Dick's and Foot Locker. Foot Locker also earns royalties from licensed stores run by other operators. Dick's says its own vertical brands, which it owns or licenses and sells only in its stores and online, were its second largest vendor, at $1.8 billion, or about 13% of net sales in the Dick's business.
It buys from about 1,500 vendors. Nike is the largest, at about 31% of purchases across both businesses, and the company has no long-term purchase contracts with vendors. Its ScoreCard loyalty program has about 30 million members and accounts for over 75% of Dick's total sales. The company says it competes with other sporting goods and retail businesses, including online-only sellers. The Foot Locker deal closed on September 8, 2025.
- Legal name
- DICK'S Sporting Goods, Inc.
- Fiscal year ends
- January 31, 2026
- Latest annual report
- 10-K · Mar 27, 2026
- Accession · CIK
- 0001089063-26-000007
0001089063
Revenue and margins
Dick's Sporting Goods had $17.2B of revenue in fiscal 2025, up 28.1% on the year before.
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew 16.3% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $400M in fiscal 2025, 2.3% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Dick's Sporting Goods returned $761M to shareholders in fiscal 2025, 190% of free cash flow. The diluted share count rose 2.7%.
Value Dick's Sporting Goods yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of — and divides by 85.1M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 15.7x · peers 11.8x · sector 17.9x.
Balance sheet
Cash, debt and the ratios that show how comfortably Dick's Sporting Goods can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $2.6B | $1.9B | $1.8B | $1.7B | $1.4B |
| Interest coverage | 35.2x | 15.4x | 22.1x | 27.8x | 17.1x |
| Current ratio | 1.9x | 1.9x | 1.8x | 1.8x | 1.5x |
| Quick ratio | 1.0x | 0.8x | 0.7x | 0.7x | 0.5x |
| Total assets | $9.0B | $9.0B | $9.3B | $10.5B | $17.4B |
| Total liabilities | $6.9B | $6.5B | $6.7B | $7.3B | $11.9B |
| Shareholders' equity | $2.1B | $2.5B | $2.6B | $3.2B | $5.5B |
| Net debt (− = net cash) | — | — | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$5.6M
7 insiders
Sold, 12 months
$47.1M
3 insiders
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 30, 2026 | Matthew BarnesPresident - Foot Locker Intl | Bought | 3,665 | $136.39 | $0.5M | Form 4 |
| Sep 23, 2026 | Larry Fitzgerald Jr.Director | Bought | 1,860 | $131.67 | $0.2M | Form 4 |
| Sep 22, 2026 | Navdeep GuptaEVP, Chief Financial Officer | Bought | 7,707 | $129.75 | $1.0M | Form 4 |
| Sep 1, 2026 | William J ColomboDirector | Bought | 913 | $133.19 | $0.1M | Form 4 |
| Aug 27, 2026 | Mark J BarrenecheaDirector | Bought | 17,000 | $130.72 | $2.2M | Form 4 |
| Aug 27, 2026 | William J ColomboDirector | Bought | 1,100 | $129.00 | $0.1M | Form 4 |
| Aug 26, 2026 | Robert W. EddyDirector | Bought | 4,000 | $128.70 | $0.5M | Form 4 |
| Aug 26, 2026 | Sandeep MathraniDirector | Bought | 1,550 | $128.89 | $0.2M | Form 4 |
| Aug 26, 2026 | William J ColomboDirector | Bought | 5,000 | $128.72 | $0.6M | Form 4 |
| May 28, 2026 | Lauren R HobartPresident & CEO, Director | Sold | 20,083 | $228.12 | $4.6M | Form 4 |
| Apr 17, 2026 | Julie Lodge-JarrettEVP, Chf People & Purpose Ofcr | Sold | 4,140 | $223.56 | $0.9M | Form 4 |
| Mar 31, 2026 | Edward W StackExecutive Chairman, Director, 10% owner | Sold | 210,478 | $197.69 | $41.6M | Form 4 |
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | ✓ | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | — |
| Current ratio rose | ✕ | ✕ | ✕ |
| Share count didn't rise | ✓ | ✓ | ✕ |
| Gross margin rose | ✓ | ✓ | ✕ |
| Revenue rose relative to assets | ✓ | ✕ | ✓ |
| F-score | — / 9 | — / 9 | — / 9 |
| Accruals ratio | −5.3% | −1.5% | −4.9% |
| Altman Z'' | 4.80 | 4.87 | 3.12 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Dick's Sporting Goods DKS | $13.0B | 28.1% | 6.4% | 2.3% | — | 15.7x | — | |
| Signet Jewelers SIG | $4.6B | 1.6% | 5.8% | 7.7% | 24.9% | 13.6x | 8 | Compare → |
| Academy Sports + Outdoors ASO | $3.8B | 2.0% | 8.5% | 3.7% | 17.6% | 10.1x | 7 | Compare → |
| Five Below FIVE | $12.4B | 22.9% | 9.6% | 8.6% | 26.9% | 20.0x | 7 | Compare → |
| Sally Beauty SBH | $1.7B | −0.4% | 8.9% | 4.7% | 16.1% | 9.1x | 8 | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $7.9B | $8.6B | $8.4B | $8.8B | $9.6B | $12.3B | $12.4B | $13.0B | $13.4B | $17.2B |
| Gross profit | $2.4B | $2.5B | $2.4B | $2.6B | $3.1B | $4.7B | $4.3B | $4.5B | $4.8B | $5.7B |
| Operating income | $450M | $478M | $445M | $376M | $742M | $2.0B | $1.5B | $1.3B | $1.5B | $1.1B |
| Interest expense | $5.9M | $8.0M | $10.2M | $17.0M | $48.8M | $57.8M | $95.2M | $58.0M | $53.0M | $64.3M |
| Pretax income | $458M | $501M | $432M | $408M | $712M | $2.0B | $1.4B | $1.3B | $1.5B | $1.1B |
| Income tax | $171M | $178M | $112M | $110M | $182M | $475M | $341M | $272M | $354M | $293M |
| Net income | $287M | $323M | $320M | $298M | $530M | $1.5B | $1.0B | $1.0B | $1.2B | $849M |
| Diluted EPS | $2.56 | $3.01 | $3.24 | $3.34 | $5.72 | $13.87 | $10.78 | $12.18 | $14.05 | $9.97 |
| Diluted shares | 0.11B | 0.11B | 0.10B | 0.09B | 0.09B | 0.11B | 0.10B | 0.09B | 0.08B | 0.09B |
| Cash flow | ||||||||||
| Cash from operations | $769M | $746M | $713M | $405M | $1.6B | $1.6B | $922M | $1.5B | $1.3B | $1.5B |
| Capital expenditure | $422M | $474M | $198M | $218M | $224M | $308M | $364M | $587M | $803M | $1.1B |
| Free cash flow | $347M | $272M | $515M | $187M | $1.3B | $1.3B | $558M | $940M | $509M | $400M |
| Depreciation and amortization | $234M | $238M | $244M | $313M | $326M | $323M | $366M | $394M | $400M | $489M |
| Stock-based compensation | $33.6M | $36.2M | $41.9M | $43.5M | $50.2M | $52.8M | $50.6M | $57.3M | $71.0M | $124M |
| Acquisitions | $119M | $9.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $257M |
| Share buybacks | $146M | $285M | $323M | $402M | $0.0M | $1.1B | $459M | $649M | $263M | $347M |
| Dividends paid | $68.0M | $73.1M | $89.3M | $98.3M | $107M | $603M | $163M | $351M | $362M | $414M |
| Dividends and buybacks | $214M | $358M | $413M | $501M | $107M | $1.7B | $622M | $1,000M | $625M | $761M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $165M | $101M | $114M | $69.3M | $1.7B | $2.6B | $1.9B | $1.8B | $1.7B | $1.4B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $39.2M |
| Current assets | $2.0B | $2.0B | $2.1B | $2.4B | $3.8B | $5.1B | $5.0B | $4.9B | $5.4B | $7.1B |
| Current liabilities | $1.4B | $1.4B | $1.5B | $2.1B | $2.6B | $2.7B | $2.6B | $2.8B | $3.1B | $4.6B |
| Inventory | $1.6B | $1.7B | $1.8B | $2.2B | $2.0B | $2.3B | $2.8B | $2.8B | $3.3B | $4.9B |
| Property and equipment, net | $1.5B | $1.7B | $1.6B | $1.4B | $1.3B | $1.3B | $1.3B | $1.6B | $2.1B | $3.5B |
| Total assets | $4.1B | $4.2B | $4.2B | $6.6B | $7.8B | $9.0B | $9.0B | $9.3B | $10.5B | $17.4B |
| Total liabilities | $2.1B | $2.3B | $2.3B | $4.9B | $5.4B | $6.9B | $6.5B | $6.7B | $7.3B | $11.9B |
| Shareholders' equity | $1.9B | $1.9B | $1.9B | $1.7B | $2.3B | $2.1B | $2.5B | $2.6B | $3.2B | $5.5B |
| Margins | ||||||||||
| Gross margin | 29.9% | 29.0% | 28.9% | 29.2% | 31.8% | 38.3% | 34.6% | 34.9% | 35.9% | 32.9% |
| Operating margin | 5.7% | 5.6% | 5.3% | 4.3% | 7.7% | 16.6% | 11.8% | 9.9% | 11.0% | 6.4% |
| EBITDA margin | 8.6% | 8.3% | 8.2% | 7.9% | 11.1% | 19.2% | 14.8% | 12.9% | 13.9% | 9.2% |
| Net margin | 3.6% | 3.8% | 3.8% | 3.4% | 5.5% | 12.4% | 8.4% | 8.1% | 8.7% | 4.9% |
| FCF margin | 4.4% | 3.2% | 6.1% | 2.1% | 13.9% | 10.6% | 4.5% | 7.2% | 3.8% | 2.3% |
| Returns | ||||||||||
| Return on capital employed | 17.9% | 17.6% | 16.3% | 10.4% | 15.2% | 35.3% | 23.1% | 19.9% | 21.2% | 10.9% |
| Return on equity | 15.5% | 16.7% | 16.6% | 16.4% | 26.1% | 68.5% | 45.1% | 40.7% | 40.1% | 19.4% |
| Return on assets | 7.6% | 7.8% | 7.6% | 5.5% | 7.4% | 18.1% | 11.6% | 11.4% | 11.8% | 6.1% |
| Growth | ||||||||||
| Revenue growth | 9.0% | 8.4% | −1.8% | 3.7% | 9.5% | 28.3% | 0.6% | 5.0% | 3.5% | 28.1% |
| Net income growth | −13.0% | 12.5% | −1.1% | −7.0% | 78.3% | 186.6% | −31.4% | 0.3% | 11.4% | −27.1% |
| EPS growth | −9.5% | 17.6% | 7.6% | 3.1% | 71.3% | 142.5% | −22.3% | 13.0% | 15.4% | −29.0% |
| FCF growth | 23.8% | −21.6% | 89.2% | −63.6% | 610.0% | −1.5% | −57.4% | 68.5% | −45.8% | −21.4% |
| Share count change | −3.9% | −4.1% | −8.2% | −9.8% | 4.0% | 18.3% | −9.4% | −13.5% | −3.5% | 2.7% |
| Financial health | ||||||||||
| Interest coverage | 76.8x | 59.4x | 43.4x | 22.1x | 15.2x | 35.2x | 15.4x | 22.1x | 27.8x | 17.1x |
| Current ratio | 1.4x | 1.4x | 1.4x | 1.2x | 1.5x | 1.9x | 1.9x | 1.8x | 1.8x | 1.5x |
| Quick ratio | 0.3x | 0.2x | 0.2x | 0.1x | 0.7x | 1.0x | 0.8x | 0.7x | 0.7x | 0.5x |
| Capital allocation | ||||||||||
| Capex / revenue | 5.3% | 5.5% | 2.4% | 2.5% | 2.3% | 2.5% | 2.9% | 4.5% | 6.0% | 6.6% |
| Stock comp / revenue | 0.4% | 0.4% | 0.5% | 0.5% | 0.5% | 0.4% | 0.4% | 0.4% | 0.5% | 0.7% |
| Payouts / FCF | 61.6% | 131.5% | 80.2% | 267.5% | 8.1% | 133.6% | 111.4% | 106.4% | 122.7% | 190.2% |
| Quality scores | ||||||||||
| Altman Z'' | 4.2 | 4.3 | 4.5 | 2.4 | 3.4 | 5.0 | 5.0 | 4.8 | 4.9 | 3.1 |
| Accruals ratio | −12.6% | −10.2% | −9.4% | −2.0% | −14.2% | −1.2% | 1.3% | −5.3% | −1.5% | −4.9% |
Source: SEC EDGAR XBRL filings (CIK 0001089063). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.