DKSDICK'S SPORTING GOODS, INC.

Retail-Miscellaneous Shopping Goods Stores

Revenue: $17.2B; 28% YoY
Operating margin: 6.4%; 42% YoY
EBITDA: $1.6B; 15% YoY
Market cap: $13.5B
Employees: —
Net debt / EBITDA: -0.5×; −$859M net debt
AI in 10-K: 2.6; mentions per 10K words

Takeover score 2 of 13

Fixable underperformance 0 of 7

TSR below peersNo
0 of 5 years
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
181% of net income
Cash flow under 80% of net income
Dilutive SBCNo
1% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
50% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
5% of assets
Over 40% of assets
Shareholder dissentNo
98% lowest support
Any vote under 80% support

Buyer economics 1 of 4

Low revenue per employeeNo
—
Bottom quartile of its SIC industry
Quiet on AINo
2.6 per 10K words · 65th pct
Bottom quartile of AI mentions in 10-Ks
Net cashYes
Net cash · 0.5× EBITDA
More cash than debt, positive EBITDA
Buyout-sizedNo
$13.5B market cap
Market cap $500M–$5B

Catalysts 1 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingYes
−$42M net
Net sales over $10M in 12 months

Financials

Metric	FY2022	FY2023	FY2024	FY2025	FY2026	YoY	Trend
Revenue	$12.3B	$12.4B	$13.0B	$13.4B	$17.2B	28%
Operating income	$2.0B	$1.5B	$1.3B	$1.5B	$1.1B	26%
Net income	$1.5B	$1.0B	$1.0B	$1.2B	$849M	27%
Operating cash flow	$1.6B	$922M	$1.5B	$1.3B	$1.5B	17%
Capex	$308M	$364M	$587M	$803M	$1.1B	42%
Stock-based comp	$53M	$51M	$57M	$71M	$124M	74%
Buybacks	$1.1B	$458M	$649M	$263M	$347M	32%
Dividends	$603M	$163M	$351M	$362M	$414M	14%

Deal filings

None.

13D filers

Filed	Filer	Form	Stake	Intent
Mar 13, 2026	Overbrook235 LLC	SCHEDULE 13D	15.4%	Passive
Mar 13, 2026	Stack Michael E.	SCHEDULE 13D	15.4%	Passive
Mar 13, 2026	COLOMBO WILLIAM J	SCHEDULE 13D/A	15.6%	Passive
Mar 19, 2024	COLOMBO WILLIAM J	SC 13D/A	13.8%	Passive
Oct 1, 2021	COLOMBO WILLIAM J	SC 13D/A	12.3%	Passive
Dec 2, 2019	COLOMBO WILLIAM J	SC 13D	8.0%	Passive

Insider trading

Open-market buys, 12 mo: $6M · 9
Open-market sells, 12 mo: $47M · 9
Net: −$42M

Pay vs performance

Year	CEO total comp	Comp actually paid	TSR (indexed)	Peer TSR
FY2026	—	—	350	180
FY2025	—	—	640	211
FY2024	—	—	407	179
FY2023	—	—	320	155
FY2022	—	—	281	161