Dick's Sporting Goods vs Sally Beauty
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KIRA’s take AI analyst
I put Dick's Sporting Goods and Sally Beauty side by side, using each one’s latest annual report. Here is what stands out:
- Dick's Sporting Goods is the larger business, with $17.2B of revenue in fiscal 2025 against $3.7B for Sally Beauty, about 4.7 times as much.
- Dick's Sporting Goods grew revenue faster (28.1%, against −0.4%).
- Sally Beauty kept more of each dollar of sales as operating profit (8.9% operating margin, against 6.4%).
- Sally Beauty turned more of its sales into free cash flow (4.7% FCF margin, against 2.3%).
- Investors pay more for each dollar of Dick's Sporting Goods’s earnings: a P/E of 15.7x against 9.1x for Sally Beauty.
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Dick's Sporting Goods
DKS
2/8
Revenue growth5-year growth
Sally Beauty
SBH
6/8
Gross marginOperating marginNet marginFCF marginReturn on equityShare count change
Side by side
Best in the row
| Latest fiscal year | DKS FY25 | SBH FY25 |
|---|---|---|
| Size | ||
| Market cap | $13.0B | $1.7B |
| Revenue | $17.2B | $3.7B |
| Free cash flow | $400M | $173M |
| Net income | $849M | $196M |
| Growth | ||
| Revenue growth | 28.1% | −0.4% |
| 5-year growth | 12.4% | 1.0% |
| Share count change | 2.7% | −2.9% |
| Profitability | ||
| Gross margin | 32.9% | 51.6% |
| Operating margin | 6.4% | 8.9% |
| Net margin | 4.9% | 5.3% |
| FCF margin | 2.3% | 4.7% |
| Return on capital | — | 16.1% |
| Return on equity | 19.4% | 27.5% |
| Balance sheet | ||
| Net debt | — | $726M |
| Net debt / EBITDA | — | 1.7x |
| Dividends and buybacks | $761M | $54.0M |
| Valuation & quality | ||
| P/E | 15.7x | 9.1x |
| Piotroski F-score | — | 8 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.