DICK's Sporting Goods (DKS)

DICK’s Sporting Goods (DKS) is a well established retailer that’s sailed through the digital transformation of the retail space and thrived thanks to well managed working capital, long-term fixed rate debt, a very healthy balance sheet with positive net cash and decent growth.

At a 9% Free Cashflow yield on 2024 estimates and $1.2 billion remaining on their buyback program, is DICK’s too good an opportunity to be true?

Contents:

1. Capital Allocation, Financials & Valuation

2. Business Model

3. Risk & Challenges for the business

4. Expectations