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Dick's Sporting Goods
(NYSE:DKS)
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Rating:55Neutral
Price Target:
$137.00
▲(10.21% Upside)
Action:Reiterated
Date:09/25/26
Overall score reflects solid top-line momentum but weakening cash conversion and compressed profitability, with meaningful leverage adding risk. Technicals are notably weak (price far below key moving averages and negative MACD), while valuation and dividend yield provide partial support. The latest earnings call guidance cut and Foot Locker-related profitability headwinds further weigh on the near-term outlook.
Positive Factors
Core comparable-sales momentum
Strong comparable-sales growth across multiple years indicates durable customer demand and market-share momentum in the core DICK’S business. Outperformance versus the broader industry supports the company’s merchandising, store experience, and omnichannel retail model over the medium term.
Negative Factors
Weak free-cash-flow conversion
The sharp decline in free cash flow shows that accounting earnings are converting less effectively into cash. Persistently weaker conversion can constrain reinvestment, debt reduction, shareholder returns, and acquisition integration, making financial performance more vulnerable if operating conditions soften.
Read all positive and negative factors
Positive Factors
Negative Factors
Core comparable-sales momentum
Strong comparable-sales growth across multiple years indicates durable customer demand and market-share momentum in the core DICK’S business. Outperformance versus the broader industry supports the company’s merchandising, store experience, and omnichannel retail model over the medium term.
Read all positive factors
Dick's Sporting Goods Key Performance Indicators (KPIs)
Any
Operating Income by Segment
Shows profitability across business segments, revealing which parts of the company generate strong margins, which consume resources, and where management is earning the best returns on sales and investment.
Shows profitability across business segments, revealing which parts of the company generate strong margins, which consume resources, and where management is earning the best returns on sales and investment.
Data provided by:
The Fly
The FlyDick's Sporting Goods (DKS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$12.15B
Dividend Yield3.63%
Average Volume (3M)3.08M
Price to Earnings (P/E)14.4
Beta (1Y)1.25
Revenue Growth53.54%
EPS Growth-35.49%
CountryUS
Employees105,200
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)9.48
Shares Outstanding65,355,930
10 Day Avg. Volume2,691,399
30 Day Avg. Volume3,084,174
Financial Highlights & Ratios
PEG Ratio-0.67
Price to Book (P/B)3.03
Price to Sales (P/S)0.98
P/FCF Ratio41.97
Enterprise Value/Market Cap2.03
Enterprise Value/Revenue1.17
Enterprise Value/Gross Profit3.65
Enterprise Value/Ebitda13.44
Forecast
1Y Price Target
$158.20Price Target Upside27.27% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering22
EPS Forecast (FY)11.54
Revenue Forecast (FY)$22.08B
Dick's Sporting Goods Business Overview & Revenue Model
Company Description
DICK'S Sporting Goods, Inc., together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and fish...
How the Company Makes Money
Dick’s Sporting Goods primarily makes money by selling sporting goods merchandise to consumers through its retail stores and e-commerce channels. Its core revenue stream is product sales across key categories such as athletic apparel, footwear, an...
Dick's Sporting Goods Earnings Call Summary
Earnings Call Date:Aug 25, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 24, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: DICK'S reported strong top-line comp growth, margin expansion in its core business, progress on strategic initiatives (House of Sport, Field House, GameChanger, ScoreCard), and solid balance sheet metrics. However, company-wide results and guidance were materially impacted by the Foot Locker acquisition, an industry-wide inventory-driven promotional environment, weaker Foot Locker comps and profitability, increased SG&A and acquisition-related charges, and a higher expected tax rate. Management emphasized long-term confidence in investments and synergies but trimmed near-term earnings expectations and warned of continued promotional pressure through year-end.Positive Updates
Consolidated Revenue Boost from Foot Locker Acquisition
Consolidated net sales increased 53.2% to $5.59 billion in Q2, driven by a $1.74 billion contribution from the Foot Locker business and 4.9% comps at the DICK'S business.
Negative Updates
Foot Locker Sales and Profitability Weakness
Pro forma comps for the Foot Locker business declined 3.6% in Q2; Foot Locker reported an operating loss of $31.9 million in the quarter and management now expects FY pro forma comps of -2% to 0% and an operating loss of $80 million to $40 million (previously expected to be profitable).
Read all updates
Q2-2026 Updates
Positive
Negative
Consolidated Revenue Boost from Foot Locker Acquisition
Consolidated net sales increased 53.2% to $5.59 billion in Q2, driven by a $1.74 billion contribution from the Foot Locker business and 4.9% comps at the DICK'S business.
Read all positive updates
Company Guidance
Management updated 2026 guidance: for the DICK'S business they still expect full‑year comp sales growth of 2.5%–4.0% with operating margins of 10.6%–10.9% (down from a prior 11.0%–11.4%), gross margin now expected to decline slightly with pressure most pronounced in Q3, and SG&A to deleverage (roughly 50 bps of deleverage in Q3 at the midpoint). For Foot Locker they now expect pro‑forma comp sales of −2% to 0% (prior 1.5%–3%) and an operating loss of $80M–$40M (versus prior $110M–$150M profit). At the consolidated level they guide non‑GAAP EPS of $11.00–$12.00 (prior $13.50–$14.50) on ~90M average diluted shares, a full‑year effective tax rate of ~29% (≈200 bps above prior expectations, reducing EPS by ≈$0.35), net capex of ≈$1.4B split ~70/30 DICK’S/Foot Locker, ~$200M of acquisition‑related charges expected in 2026 (part of up to $750M pretax charges, $516M recognized to date), and continued confidence in $100M–$125M of medium‑term synergies.Dick's Sporting Goods Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
58
Neutral
Cash Flow
46
Neutral
| Breakdown | TTM | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.15B | 17.22B | 13.44B | 12.98B | 12.37B | 12.29B |
| Gross Profit | 6.78B | 5.67B | 4.83B | 4.53B | 4.28B | 4.71B |
| EBITDA | 1.84B | 1.69B | 1.97B | 1.77B | 1.84B | 2.37B |
| Net Income | 838.83M | 849.24M | 1.17B | 1.05B | 1.04B | 1.52B |
Balance Sheet | ||||||
| Total Assets | 18.25B | 17.41B | 10.46B | 9.31B | 8.99B | 9.04B |
| Cash, Cash Equivalents and Short-Term Investments | 913.74M | 1.35B | 1.69B | 1.80B | 1.92B | 2.64B |
| Total Debt | 7.96B | 7.75B | 4.49B | 4.26B | 4.21B | 4.51B |
| Total Liabilities | 12.52B | 11.87B | 7.26B | 6.69B | 6.47B | 6.94B |
| Stockholders Equity | 5.73B | 5.54B | 3.20B | 2.62B | 2.52B | 2.10B |
Cash Flow | ||||||
| Free Cash Flow | 239.41M | 400.17M | 509.27M | 939.91M | 557.81M | 1.31B |
| Operating Cash Flow | 1.59B | 1.54B | 1.31B | 1.53B | 921.88M | 1.62B |
| Investing Cash Flow | -1.16B | -1.05B | -796.56M | -614.68M | -392.89M | -343.98M |
| Financing Cash Flow | -747.82M | -821.31M | -626.13M | -1.04B | -1.25B | -287.72M |
Dick's Sporting Goods Technical Analysis
Neutral
124.31
Price Trends
153.48
Negative
185.78
Negative
194.85
Negative
Market Momentum
-3.84
Negative
47.51
Neutral
51.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DKS, the sentiment is Neutral. The current price of 124.31 is below the 20-day moving average (MA) of 131.47, below the 50-day MA of 153.48, and below the 200-day MA of 194.85, indicating a neutral trend. The MACD of -3.84 indicates Negative momentum. The RSI at 47.51 is Neutral, neither overbought nor oversold. The STOCH value of 51.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DKS.
Dick's Sporting Goods Risk Analysis
Dick's Sporting Goods disclosed 32 risk factors in its most recent earnings report. Dick's Sporting Goods reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Dick's Sporting Goods Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $11.82B | 19.12 | 27.73% | ― | 25.56% | 126.16% | |
73 Outperform | $2.83T | 20.83 | 30.50% | ― | 15.77% | 88.63% | |
69 Neutral | $3.29B | 8.74 | 18.38% | 1.08% | 3.68% | 12.68% | |
64 Neutral | $17.56B | 17.55 | 39.30% | 2.82% | 3.98% | -5.90% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | $12.15B | 14.41 | 14.99% | 3.63% | 53.54% | -35.49% | |
51 Neutral | $43.06M | -0.89 | -26.33% | ― | 0.84% | -26.47% |
* Consumer Cyclical Sector Average
DKS
Dick's Sporting Goods
136.65
-86.90
-38.87%
AMZN
Amazon
262.43
42.36
19.25%
TSCO
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33.70
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-37.15%
FIVE
Five Below
214.73
63.55
42.04%
SPWH
Sportsman's Warehouse
1.10
-1.68
-60.43%
ASO
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53.49
1.21
2.32%
Dick's Sporting Goods Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Dick’s Sporting Goods Announces $1 Billion Senior Notes Offering
Positive
Sep 25, 2026
On September 22, 2026, DICK’S Sporting Goods entered an underwriting agreement with BofA Securities, PNC Capital Markets and Wells Fargo Securities to issue $1.0 billion of unsecured senior notes. The offering comprised $400 million of 6.200...
Financial DisclosuresM&A TransactionsRegulatory Filings and Compliance
Dick’s Sporting Goods Releases Post-Foot Locker Merger Pro Forma
Neutral
Sep 21, 2026
On September 8, 2025, DICK’S Sporting Goods completed its $2.5 billion acquisition of Foot Locker, paid in roughly $0.2 billion cash and about 9.6 million DICK’S shares, and on September 11, 2025, it exchanged most of Foot Locker’...
Business Operations and StrategyDividendsFinancial Disclosures
DICK’S Sporting Goods Cuts Outlook After Foot Locker Deal
Negative
Aug 25, 2026
On August 24, 2026, DICK’S Sporting Goods’ board approved a quarterly cash dividend of $1.25 per share on its Common and Class B shares, payable September 25, 2026 to holders of record on September 11, 2026, signaling ongoing sharehold...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.