Is the business good?
How good a business is DKS?
DICK'S Sporting Goods, Inc. earns 14% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
14%
Return on invested capital · cost of capital 9.0% · 5.3 points above what the capital costs: growth creates value
- Operating margin
- 6.2%
Operating margin · Specialty Retail median 8.4% · 12 months to Q1 2026
- Cash conversion
- 0.45×
Cash conversion · 0.30× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- +11%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | 7.7% |
| FY2021 | 17% |
| FY2022 | 12% |
| FY2023 | 9.9% |
| FY2024 | 11% |
| FY2025 | 6.4% |
Details›
- Gross margin12 months to Q1 2026
- 32%
- Operating margin12 months to Q1 2026
- 6.2%
- Net margin12 months to Q1 2026
- 4.7%
- Free cash flow margin
- 2.1%
- Revenue, trailing twelve months
- $19.2B
- Free cash flow, trailing twelve months
- $403M
- Net income, trailing twelve months
- $905M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 14%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Specialty Retail
Ranks #10 of 18 by Smart Score