APAM

Artisan Partners Asset

Fundamental data last updated:April 13, 2026

company profile

SECTOR

Financial Services

industry

Asset Management

Exchange

NYSE

County of HQ

United States

Next Earnings Date

05/05/26

Business Summary

Dick’s Sporting Goods operates a large-format specialty retail model focused on athletic apparel, footwear, and sporting equipment, monetizing both branded merchandise and private-label offerings. The company generates cash through high inventory turnover, vendor relationships with major athletic brands, and scale-driven purchasing power that supports its 15.30% operating margin. Its moat rests on national footprint, localized merchandising, and integrated omnichannel capabilities that connect physical stores with digital demand. By combining experiential retail with exclusive product assortments and private brands, it captures discretionary consumer spending while leveraging scale to defend pricing power.

VALUATION

P/E

9.1

Market Cap ($M USD)

$2,596

Forward P/E

8.7

PEG

1.1

PRICE TO SALES

2

PRICE TO BOOK

5.9

EV / EBITDA

5.2

5-Year Average P/E

DIVIDEND

Yield

9.00%

Annual Payout

$3.30

Payout Ratio

77.30%

Consecutive Years of Dividend Growth

2

5-Year Dividend Growth Rate

0.80%

Financial Health & Profitability

Earnings Per Share

$4.05

Next Year EPS Growth Estimate

$4.21

Next Year Revenue Growth Estimate

4.60%

Return on Equity (ROE)

60.60%

Operating Margin

33.40%

Debt-to-Equity

0.7

Piotroski F-Score

4

Altman Z-Score

3.8

Return on Invested Capital (ROIC)

36.90%%

Current Ratio

1.2

Quick Ratio

Gainseekers Quantitative Analysis

Summary

At 21.3x earnings with a Forward P/E of 13.1, the market is clearly pricing in a material earnings contraction from the current $14.9 EPS to the $10.22 estimate, suggesting skepticism about durability rather than enthusiasm for growth. A PEG of 1.4 implies only moderate growth relative to valuation, while the Altman Z-Score of 2.9 keeps the company out of distress territory but not in the highest safety bracket either. With a modest 1.1x sales multiple and 3.4x book, valuation is not stretched, yet the weak Piotroski F-Score of 3 and 2.30% ROE contradict the premium earnings multiple. This is a company priced for normalization, not expansion, and the market is cautiously discounting earnings risk rather than assigning a growth premium.

AI Exposure / Tech Reliance

As a Specialty Retailer in Consumer Cyclical, DKS operates in a segment where AI-driven inventory management, demand forecasting, and omnichannel optimization are increasingly critical. The 15.30% operating margin suggests operational discipline, which can be enhanced through automation and data analytics. However, retail remains structurally exposed to digital competition, meaning technological adaptation is mandatory rather than optional.

The Bull Case

A GARP investor could justify entry on the sharp compression from a 21.3 trailing P/E to a 13.1 forward multiple, implying earnings normalization is already discounted. The 15.30% operating margin and 8.60% ROIC demonstrate that the core retail model still generates real economic returns above capital costs, while a 1.5 current ratio indicates acceptable short-term liquidity. Trading at just 1.1x sales with a 1.4% yield and a dividend profile supported by a $5.00 payout ratio metric, shareholders are being paid to wait. If earnings stabilize near the $10.22 forward estimate, today’s multiple could prove inexpensive for a scaled specialty retailer with institutional ownership reported at $239.79 and solid top-line expectations of $16.18 in projected sales growth next year.

The Bear Case

The red flags are impossible to ignore: a Piotroski F-Score of 3 signals weak fundamental momentum, and a staggering 28.10% short float indicates that a significant portion of the market is betting against the equity. Debt/Equity at 7.70% may appear low, but the collapse from $14.9 in EPS to an estimated $10.22 suggests earnings compression that justifies skepticism. A PEG of 1.4 does not offer deep-value protection if growth disappoints, and a 2.30% ROE is anemic relative to the 3.4x book valuation. Combined with an Altman Z-Score of 2.9, this is not a distressed balance sheet, but it is far from fortress quality—leaving little margin for macro or consumer spending shocks.

Market Sentiment & Smart Money

Short Interest %

11.40%

Analyst Consensus

3.2

Average Analyst Price Target

$40.00

Institutional Ownership %

95.00%

1-Year Beta

1.17

Insider Buying % (6 Mo)

2.70%%

Distance to 52-Week High

75.90%%

Distance to 52-Week Low

108.70%%