Start here if you're new
what it is
This company sells the shoes, gear, and apparel you buy for sports, workouts, golf, and weekend optimism.
how it gets paid
Last year S Sporting made $13.4B in revenue. Hardlines and equipment was the main engine at $5.9B, or 44% of sales.
why it's growing
Revenue grew 3.5% last year. Management raised its fiscal 2025 outlook for the retailer’s legacy operations in late november.
what just happened
Revenue hit $11.0B, up 164% vs. prior year, while EPS jumped to $8.66.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
45/100 earnings predictability — expect surprises
15.2x trailing p/e — the market's not buying it — or you found a deal
2.5% dividend yield — cash in your pocket every quarter
17.0% return on capital — nothing to write home about
xvary composite: 59/100 — below average
What they do
This company sells the shoes, gear, and apparel you buy for sports, workouts, golf, and weekend optimism.
You do not walk into Dick’s for one thing. You leave with shoes, a hoodie, and a $300 bat your kid suddenly needs. That one-stop setup helped the business reach a 14.0% operating margin (operating margin → profit after running the business → it shows pricing power) and 17.0% return on capital (return on capital → profit on money invested → management is not lighting cash on fire).
How they make money
$13.4B
annual revenue · their business grew +3.5% last year
Hardlines and equipment
$5.9B
Footwear
$3.8B
Apparel
$3.2B
Accessories and other
$0.5B
The products that matter
sporting goods retail
Retail Operations
$13.4B revenue
this is the whole $13.4B business today, and the 6.2% net margin tells you the story is still scale plus execution, not category magic.
core
experiential store formats
House of Sport & Field House
comp guidance lifted
the page does not give direct revenue, but it does give the tell. Guidance moved to 3.5%–4.0% from 2.0%–3.5%. Bigger boxes only matter if traffic and basket size follow.
growth
footwear retail expansion
Foot Locker deal
~$20B combined U.S. sales
Dick's and Foot Locker together are estimated at about $20B in 2025 U.S. sales, still less than 14% of a roughly $140B market. That is why the deal matters. The market is still fragmented enough for share gains to matter.
early bet
Key numbers
$15.25
fy2026 eps est
$22B
fy2026 rev est
15.2x
trailing p/e
2.5%
dividend yield
Financial health
B++
strength
- balance sheet grade B++ — above average financial health
- risk rank 3 — safer than 50% of stocks
- price stability 35 / 100
- long-term debt $1.9B (9% of capital)
- net profit margin 7.8% — keeps 8 cents of every dollar in revenue
- return on equity 20% — $0.20 profit for every $1 investors have put in
B++ — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in DKS 3 years ago → it's now worth $17,830.
The index would have given you $14,770.
source: institutional data · total return
What just happened
beat estimates
Revenue hit $11.0B, up 164% vs. prior year, while EPS jumped to $8.66.
That headline is loud because the company got much bigger after the Foot Locker deal. On the more useful measure, management also raised fiscal 2025 outlook for the legacy business and sees comparable-store sales up 3.5%.
$11.0B
revenue
$8.66
eps
35.5%
gross margin
the number that mattered
The real tell was the 3.5% comparable-store sales outlook. Comparable-store sales → sales growth from existing stores → it tells you demand is real, not just acquired.
-
we are a bit less skeptical that dick’s can pull off the turnaround.underpinning our more positive stance are indications that nike is no longer squarely focused on direct selling and is reengaging retail partners. we are also encouraged that, in initial tests, inexpensive store reconfigurations have apparently boosted foot locker’s sales.
-
management raised its fiscal 2025 outlook for the retailer’s legacy operations in late november.
-
indeed, leadership now sees comparable-store sales at dick’s and the company’s other longstanding banners increasing 3.5%–4.0% for the year, versus the slightly less robust 2.0%–3.5% advance that it envisioned roughly three months earlier.the company still has a fairly modest share of the roughly $140 billion-ayear u.s. market for sporting goods.
-
our guesstimate has dick’s and foot locker, together, generating about $20 billion in u.s. sales in calendar 2025, representing less than 14% of the industry’s domestic receipts.
-
still, that percentage should climb nicely, partly reflecting significant store upgrades.dick’s is converting a growing number of locations to either its new (large format) house of sport concept or the (more traditionally sized) field house store plan, both of which offer a unique immersive shopping experience (with indoor batting cages and the like) that is driving greater foot traffic and higher average spend per visit.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
Dick's is not dealing with abstract risk here. The thesis depends on shoppers still spending on discretionary gear, larger-format stores still driving better traffic, and the Foot Locker angle turning into share gains instead of retail complexity.
med
consumer spending slowdown
sporting goods, apparel, and footwear are discretionary purchases. When household budgets tighten, retailers feel it in traffic, basket size, and markdown pressure.
100% of Dick's $13.4B revenue sits inside that consumer demand cycle. That is the main vulnerability.
med
store-format rollout disappoints
House of Sport and Field House are supposed to drive more visits and higher spend. If the traffic lift fades, the growth story gets a lot less interesting very quickly.
management just lifted comparable-store sales guidance to 3.5%–4.0% from 2.0%–3.5%. A slide back toward the old range would tell you the format edge is thinner than advertised.
med
Foot Locker execution falls short
the upside case leans on better store layouts and more share across footwear and sporting goods. Retail combinations look neat on slides and messy in actual stores.
even together, Dick's and Foot Locker are still estimated below 14% of a roughly $140B U.S. market. If the deal adds complexity without taking share, you are left with a plain retailer at 15.2x earnings.
med
brand support softens again
part of the current setup assumes major brands are more willing to work through retail partners. That helps traffic and product relevance. If that support fades, Dick's has one less tailwind behind the stores.
the Nike point matters because the business only earned a 6.2% net margin on $13.4B of revenue. When margins are that level, small merchandising misses matter more than investors want them to.
the combined risk picture is simple: you own a well-run retailer, not a margin fortress. The stock works best if comp momentum, store productivity, and brand support all keep cooperating.
source: institutional data · regulatory filings · risk analysis
Pay attention to
key metric
comparable-store sales guidance
3.5%–4.0% is the new range, up from 2.0%–3.5%. If that slips back, the market's skepticism will look justified.
trend
House of Sport productivity
bigger formats are supposed to drive more traffic and higher spend per visit. That is the operating engine behind the growth pitch.
risk
consumer demand
100% of revenue comes from discretionary retail purchases. If shoppers pull back, this story gets cyclical fast.
earnings
next print after the $0.86 quarter
Q4 EPS was $0.86 on $4.2B of revenue. The next report needs to show the guidance raise was earned, not rented.
Analyst rankings
short-term outlook
average
momentum score 3 — the stock is moving roughly with the market. In human-speak, analysts are not giving you a clear one-year edge from fundamentals alone.
risk profile
average
stability score 3 — a middle-of-the-pack risk profile. Not a bunker stock. Not chaos either.
chart momentum
top 5%
technical score 1 — the highest rating. In human-speak, the chart still looks better than the business debate sounds.
earnings predictability
45 / 100
earnings can swing more than you want. Retail demand and merchandise mix keep this from being a smooth compounding story.
source: institutional data
Institutional activity
institutions have been net buying for 2 consecutive quarters — 413 buyers vs. 269 sellers in 3q2025. total institutional holdings: 63.3M shares. net buying for 2 quarters.
source: institutional data
Price targets
3-5 year target range
$175
$354
$207
current price
$265
target midpoint · +28% from current · 3-5yr high: $360 (+75% · 17% ann'l return)
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive