The business behind the dividend
| Measure | DKS | Median | Formula |
|---|---|---|---|
| Return on equity | 15.3% | 11.7% | Net income ÷ shareholders’ equity |
| Return on capital employed | — | — | Operating income ÷ (equity + total debt) |
| Owner earnings | $200.69m | $632.00m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $400.17m | $746.10m | Operating cash flow − capital expenditure |
| Operating margin | 6.4% | 15.0% | Operating income ÷ revenue |
| Net margin | 4.9% | 10.2% | Net income ÷ revenue |
| Debt to equity | — | — | Total debt ÷ shareholders’ equity |
| Interest cover | 17.05x | 4.43x | Operating income ÷ interest expense |
| Current ratio | 1.53x | 1.25x | Current assets ÷ current liabilities |
| Long-term debt to working capital | — | — | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | 1.81x | 1.78x | Operating cash flow ÷ net income |
Not computed here: Debt to equity, Long-term debt to working capital, Return on capital employed — why a blank is not a zero.
Ten years of it
The same measures, for every year the filings support. One year is a fact; a row is a business.
| Measure | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | Median |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on equity | 15.3% | 36.4% | 40.0% | 41.3% | 72.3% | 22.7% | 17.2% | 16.8% | 16.7% | 14.9% | 17.2% |
| Return on capital employed | — | — | 49.0% | 56.6% | 79.8% | 26.9% | 21.7% | 22.7% | 23.9% | 23.3% | 26.9% |
| Operating margin | 6.4% | 11.0% | 9.9% | 11.8% | 16.5% | 7.7% | 4.3% | 5.3% | 5.6% | 5.7% | 6.4% |
| Net margin | 4.9% | 8.7% | 8.1% | 8.4% | 12.4% | 5.5% | 3.4% | 3.8% | 3.8% | 3.6% | 4.9% |
| Debt to equity | — | — | 0.00x | 0.02x | 0.21x | 0.18x | 0.00x | 0.03x | 0.03x | 0.00x | 0.03x |
| Current ratio | 1.53x | 1.76x | 1.78x | 1.88x | 1.88x | 1.47x | 1.16x | 1.41x | 1.41x | 1.43x | 1.47x |
| Cash conversion | 1.81x | 1.13x | 1.46x | 0.88x | 1.06x | 2.93x | 1.36x | 2.23x | 2.31x | 2.68x | 1.46x |
How it compares in consumer discretionary
Among the 44 consumer discretionary companies here measured on free cash flow, Dick'S Sporting Goods pays out less than 3 of them. The median for that group is 37.5%, against this company’s 103.4%.
Closest on free cash flow
- Dillard'S (DDS) 77.8%
- Amcor (AMCR) 97.2%
- Nike (NKE) 110.2%
- Starbucks (SBUX) 113.5%
Same sector and same denominator, so the figures are comparable. All 48 in consumer discretionary →