DICK'S Sporting Goods, Inc. (DKS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+32.5%

$191.56

vs $144.55 price

Levered DCF

$166.79

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.71

Grey zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	19.77×	16.58×	12.26×	9.4×	6.2×	10.92×	13.01×	10.8×
P/B	3.03×	6.04×	4.9×	3.88×	4.48×	2.47×	2.24×	1.81×
P/S	0.98×	1.44×	0.99×	0.79×	0.77×	0.6×	0.44×	0.41×
EV / EBITDA	13.68×	11.21×	8.64×	6.55×	4.75×	6.7×	9.25×	4.53×
Gross margin	32.9%	35.9%	34.9%	34.6%	38.3%	31.8%	29.2%	28.9%
Operating margin	7.7%	11.0%	9.9%	11.8%	16.5%	7.7%	4.3%	5.3%
Net margin	4.9%	8.7%	8.1%	8.4%	12.4%	5.5%	3.4%	3.8%
Current ratio	1.53×	1.76×	1.78×	1.88×	1.88×	1.47×	1.16×	1.41×
Debt / equity	1.4×	1.4×	1.63×	1.67×	2.15×	1.35×	1.79×	0.03×
Interest coverage	20.68×	27.82×	22.1×	15.36×	35.18×	15.19×	22.08×	43.4×
Dividend yield	2.5%	1.9%	2.7%	1.7%	6.4%	1.9%	2.5%	2.6%
Payout ratio	48.7%	31.0%	33.6%	15.6%	39.7%	20.3%	33.1%	27.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	15.3%	36.4%	40.0%	41.3%	72.3%	22.7%	17.2%	16.8%
Return on invested capital	7.2%	14.3%	14.4%	16.0%	22.8%	9.7%	5.5%	12.3%
Return on assets	4.9%	11.1%	11.2%	11.6%	16.8%	6.8%	4.5%	7.6%
Free cash flow yield	2.4%	2.6%	7.3%	5.7%	13.9%	23.0%	4.8%	14.9%
Earnings yield	5.1%	6.0%	8.2%	10.6%	16.1%	9.2%	7.7%	9.3%
Enterprise value	$23.2B	$22.1B	$15.3B	$12.1B	$11.3B	$7.3B	$6.9B	$3.4B
Net debt / EBITDA	3.77×	1.42×	1.39×	1.24×	0.79×	1.37×	4.06×	-0.07×
Cash conversion cycle (days)	104	84	71	76	51	41	73	59