Intrinsic value of Dick's Sporting Goods - DKS

Previous Close

$26.99

  Intrinsic Value

$3.78

stock screener

  Rating & Target

str. sell

-86%

  Value-price divergence*

-6%

Previous close

$26.99

 
Intrinsic value

$3.78

 
Up/down potential

-86%

 
Rating

str. sell

 
Value-price divergence*

-6%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of DKS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 3.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.95
  9.90
  9.41
  8.97
  8.57
  8.21
  7.89
  7.60
  7.34
  7.11
  6.90
  6.71
  6.54
  6.38
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.43
  5.39
  5.35
  5.32
  5.28
  5.26
  5.23
Revenue, $m
  7,922
  8,706
  9,526
  10,380
  11,270
  12,195
  13,158
  14,159
  15,198
  16,279
  17,402
  18,569
  19,783
  21,046
  22,361
  23,729
  25,155
  26,641
  28,191
  29,808
  31,496
  33,258
  35,099
  37,024
  39,036
  41,140
  43,342
  45,646
  48,058
  50,585
  53,231
Variable operating expenses, $m
 
  8,060
  8,816
  9,604
  10,425
  11,280
  12,168
  13,092
  14,051
  15,048
  16,085
  17,138
  18,258
  19,424
  20,637
  21,900
  23,216
  24,588
  26,018
  27,510
  29,068
  30,694
  32,393
  34,169
  36,026
  37,968
  40,000
  42,127
  44,354
  46,685
  49,127
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  7,472
  8,060
  8,816
  9,604
  10,425
  11,280
  12,168
  13,092
  14,051
  15,048
  16,085
  17,138
  18,258
  19,424
  20,637
  21,900
  23,216
  24,588
  26,018
  27,510
  29,068
  30,694
  32,393
  34,169
  36,026
  37,968
  40,000
  42,127
  44,354
  46,685
  49,127
Operating income, $m
  450
  647
  710
  776
  844
  916
  990
  1,067
  1,147
  1,230
  1,317
  1,432
  1,525
  1,623
  1,724
  1,829
  1,939
  2,054
  2,173
  2,298
  2,428
  2,564
  2,706
  2,854
  3,009
  3,172
  3,341
  3,519
  3,705
  3,900
  4,104
EBITDA, $m
  684
  843
  922
  1,005
  1,091
  1,180
  1,274
  1,370
  1,471
  1,576
  1,684
  1,797
  1,915
  2,037
  2,164
  2,297
  2,435
  2,579
  2,729
  2,885
  3,049
  3,219
  3,397
  3,584
  3,778
  3,982
  4,195
  4,418
  4,652
  4,896
  5,152
Interest expense (income), $m
  5
  4
  197
  397
  605
  823
  1,049
  1,284
  1,529
  1,783
  2,047
  2,321
  2,606
  2,903
  3,212
  3,533
  3,867
  4,216
  4,579
  4,957
  5,352
  5,765
  6,195
  6,645
  7,116
  7,607
  8,121
  8,659
  9,222
  9,812
  10,429
Earnings before tax, $m
  458
  643
  513
  379
  239
  93
  -59
  -217
  -382
  -552
  -730
  -890
  -1,081
  -1,281
  -1,488
  -1,703
  -1,928
  -2,162
  -2,405
  -2,659
  -2,924
  -3,201
  -3,490
  -3,791
  -4,106
  -4,436
  -4,780
  -5,140
  -5,517
  -5,912
  -6,325
Tax expense, $m
  171
  174
  139
  102
  64
  25
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  287
  469
  375
  277
  174
  68
  -59
  -217
  -382
  -552
  -730
  -890
  -1,081
  -1,281
  -1,488
  -1,703
  -1,928
  -2,162
  -2,405
  -2,659
  -2,924
  -3,201
  -3,490
  -3,791
  -4,106
  -4,436
  -4,780
  -5,140
  -5,517
  -5,912
  -6,325

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  165
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  4,058
  4,278
  4,681
  5,101
  5,538
  5,993
  6,466
  6,958
  7,468
  7,999
  8,551
  9,125
  9,722
  10,342
  10,988
  11,661
  12,361
  13,092
  13,853
  14,648
  15,477
  16,343
  17,248
  18,193
  19,182
  20,216
  21,298
  22,431
  23,616
  24,857
  26,158
Adjusted assets (=assets-cash), $m
  3,893
  4,278
  4,681
  5,101
  5,538
  5,993
  6,466
  6,958
  7,468
  7,999
  8,551
  9,125
  9,722
  10,342
  10,988
  11,661
  12,361
  13,092
  13,853
  14,648
  15,477
  16,343
  17,248
  18,193
  19,182
  20,216
  21,298
  22,431
  23,616
  24,857
  26,158
Revenue / Adjusted assets
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
  2.035
Average production assets, $m
  1,560
  1,715
  1,877
  2,045
  2,220
  2,403
  2,592
  2,789
  2,994
  3,207
  3,428
  3,658
  3,897
  4,146
  4,405
  4,675
  4,956
  5,248
  5,554
  5,872
  6,205
  6,552
  6,915
  7,294
  7,690
  8,105
  8,538
  8,992
  9,468
  9,965
  10,486
Working capital, $m
  599
  479
  524
  571
  620
  671
  724
  779
  836
  895
  957
  1,021
  1,088
  1,158
  1,230
  1,305
  1,384
  1,465
  1,551
  1,639
  1,732
  1,829
  1,930
  2,036
  2,147
  2,263
  2,384
  2,511
  2,643
  2,782
  2,928
Total debt, $m
  5
  216
  436
  666
  905
  1,154
  1,413
  1,682
  1,961
  2,252
  2,554
  2,867
  3,194
  3,533
  3,886
  4,254
  4,638
  5,037
  5,454
  5,888
  6,342
  6,816
  7,311
  7,828
  8,369
  8,934
  9,526
  10,145
  10,794
  11,473
  12,184
Total liabilities, $m
  2,129
  2,340
  2,560
  2,790
  3,029
  3,278
  3,537
  3,806
  4,085
  4,376
  4,678
  4,991
  5,318
  5,657
  6,010
  6,378
  6,762
  7,161
  7,578
  8,012
  8,466
  8,940
  9,435
  9,952
  10,493
  11,058
  11,650
  12,269
  12,918
  13,597
  14,308
Total equity, $m
  1,929
  1,938
  2,120
  2,311
  2,509
  2,715
  2,929
  3,152
  3,383
  3,624
  3,874
  4,134
  4,404
  4,685
  4,978
  5,282
  5,600
  5,930
  6,275
  6,635
  7,011
  7,403
  7,813
  8,242
  8,690
  9,158
  9,648
  10,161
  10,698
  11,260
  11,849
Total liabilities and equity, $m
  4,058
  4,278
  4,680
  5,101
  5,538
  5,993
  6,466
  6,958
  7,468
  8,000
  8,552
  9,125
  9,722
  10,342
  10,988
  11,660
  12,362
  13,091
  13,853
  14,647
  15,477
  16,343
  17,248
  18,194
  19,183
  20,216
  21,298
  22,430
  23,616
  24,857
  26,157
Debt-to-equity ratio
  0.003
  0.110
  0.210
  0.290
  0.360
  0.430
  0.480
  0.530
  0.580
  0.620
  0.660
  0.690
  0.730
  0.750
  0.780
  0.810
  0.830
  0.850
  0.870
  0.890
  0.900
  0.920
  0.940
  0.950
  0.960
  0.980
  0.990
  1.000
  1.010
  1.020
  1.030
Adjusted equity ratio
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  287
  469
  375
  277
  174
  68
  -59
  -217
  -382
  -552
  -730
  -890
  -1,081
  -1,281
  -1,488
  -1,703
  -1,928
  -2,162
  -2,405
  -2,659
  -2,924
  -3,201
  -3,490
  -3,791
  -4,106
  -4,436
  -4,780
  -5,140
  -5,517
  -5,912
  -6,325
Depreciation, amort., depletion, $m
  234
  196
  212
  229
  247
  265
  284
  303
  324
  345
  367
  366
  390
  415
  441
  467
  496
  525
  555
  587
  620
  655
  691
  729
  769
  810
  854
  899
  947
  997
  1,049
Funds from operations, $m
  1,017
  665
  587
  506
  421
  333
  225
  86
  -58
  -207
  -362
  -524
  -692
  -866
  -1,047
  -1,236
  -1,432
  -1,637
  -1,850
  -2,072
  -2,304
  -2,546
  -2,798
  -3,062
  -3,337
  -3,625
  -3,926
  -4,241
  -4,571
  -4,915
  -5,277
Change in working capital, $m
  258
  43
  45
  47
  49
  51
  53
  55
  57
  59
  62
  64
  67
  69
  72
  75
  78
  82
  85
  89
  93
  97
  101
  106
  111
  116
  121
  127
  133
  139
  146
Cash from operations, $m
  759
  622
  542
  459
  372
  282
  172
  31
  -115
  -267
  -424
  -588
  -758
  -935
  -1,120
  -1,311
  -1,511
  -1,719
  -1,935
  -2,161
  -2,397
  -2,643
  -2,899
  -3,168
  -3,448
  -3,741
  -4,047
  -4,368
  -4,703
  -5,054
  -5,422
Maintenance CAPEX, $m
  0
  -156
  -172
  -188
  -204
  -222
  -240
  -259
  -279
  -299
  -321
  -343
  -366
  -390
  -415
  -441
  -467
  -496
  -525
  -555
  -587
  -620
  -655
  -691
  -729
  -769
  -810
  -854
  -899
  -947
  -997
New CAPEX, $m
  -432
  -155
  -161
  -168
  -175
  -182
  -190
  -197
  -205
  -213
  -221
  -230
  -239
  -249
  -259
  -270
  -281
  -293
  -305
  -319
  -332
  -347
  -363
  -379
  -396
  -415
  -434
  -454
  -475
  -498
  -521
Cash from investing activities, $m
  -550
  -311
  -333
  -356
  -379
  -404
  -430
  -456
  -484
  -512
  -542
  -573
  -605
  -639
  -674
  -711
  -748
  -789
  -830
  -874
  -919
  -967
  -1,018
  -1,070
  -1,125
  -1,184
  -1,244
  -1,308
  -1,374
  -1,445
  -1,518
Free cash flow, $m
  209
  311
  209
  103
  -8
  -123
  -258
  -425
  -599
  -779
  -966
  -1,161
  -1,363
  -1,574
  -1,793
  -2,021
  -2,259
  -2,507
  -2,765
  -3,035
  -3,316
  -3,610
  -3,917
  -4,238
  -4,574
  -4,924
  -5,291
  -5,676
  -6,078
  -6,499
  -6,940
Issuance/(repayment) of debt, $m
  17
  212
  220
  230
  239
  249
  259
  269
  279
  290
  302
  314
  326
  339
  353
  368
  383
  399
  417
  435
  454
  474
  495
  517
  541
  566
  592
  619
  648
  679
  711
Issuance/(repurchase) of shares, $m
  -115
  0
  0
  0
  24
  138
  273
  440
  613
  793
  980
  1,149
  1,352
  1,562
  1,780
  2,008
  2,245
  2,493
  2,750
  3,019
  3,300
  3,593
  3,899
  4,219
  4,554
  4,904
  5,270
  5,653
  6,054
  6,474
  6,914
Cash from financing (excl. dividends), $m  
  -95
  212
  220
  230
  263
  387
  532
  709
  892
  1,083
  1,282
  1,463
  1,678
  1,901
  2,133
  2,376
  2,628
  2,892
  3,167
  3,454
  3,754
  4,067
  4,394
  4,736
  5,095
  5,470
  5,862
  6,272
  6,702
  7,153
  7,625
Total cash flow (excl. dividends), $m
  114
  523
  429
  332
  255
  264
  274
  284
  294
  304
  315
  302
  315
  327
  341
  355
  369
  385
  402
  419
  437
  457
  477
  499
  521
  545
  570
  597
  625
  655
  686
Retained Cash Flow (-), $m
  -140
  -173
  -182
  -190
  -198
  -206
  -273
  -440
  -613
  -793
  -980
  -1,149
  -1,352
  -1,562
  -1,780
  -2,008
  -2,245
  -2,493
  -2,750
  -3,019
  -3,300
  -3,593
  -3,899
  -4,219
  -4,554
  -4,904
  -5,270
  -5,653
  -6,054
  -6,474
  -6,914
Prev. year cash balance distribution, $m
 
  164
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  514
  247
  142
  57
  58
  0
  -156
  -319
  -488
  -664
  -847
  -1,037
  -1,234
  -1,440
  -1,653
  -1,876
  -2,108
  -2,349
  -2,600
  -2,863
  -3,137
  -3,422
  -3,721
  -4,033
  -4,359
  -4,700
  -5,056
  -5,429
  -5,820
  -6,229
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  493
  226
  124
  47
  45
  0
  -106
  -199
  -281
  -348
  -402
  -443
  -469
  -483
  -485
  -477
  -459
  -433
  -400
  -364
  -324
  -284
  -244
  -205
  -170
  -137
  -109
  -84
  -64
  -47
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  99.3
  95.9
  90.1
  82.2
  73.1
  63.5
  54.1
  45.5
  37.6
  30.6
  24.6
  19.5
  15.3
  11.9
  9.2
  7.0
  5.3
  4.0
  3.0
  2.2
  1.6
  1.2
  0.9
  0.6
  0.5
  0.3
  0.2

Dick's Sporting Goods, Inc. operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear products and accessories. The company also owns and operates Golf Galaxy, Field & Stream, Chelsea Collective, and True Runner specialty concept stores; and e-commerce Websites, such as DICKS.com, golfgalaxy.com, fieldandstreamshop.com, and caliastudio.com. As of January 28, 2017, it operated approximately 675 Dick's Sporting Goods stores, 73 Golf Galaxy stores, and 25 Field & Stream stores. The company was formerly known as Dick’s Clothing and Sporting Goods, Inc. and changed its name to Dick’s Sporting Goods, Inc. in April 1999. Dick's Sporting Goods, Inc. was founded in 1948 and is headquartered in Coraopolis, Pennsylvania.

FINANCIAL RATIOS  of  Dick's Sporting Goods (DKS)

Valuation Ratios
P/E Ratio 10.4
Price to Sales 0.4
Price to Book 1.5
Price to Tangible Book
Price to Cash Flow 3.9
Price to Free Cash Flow 9.1
Growth Rates
Sales Growth Rate 9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 16.1%
Cap. Spend. - 3 Yr. Gr. Rate 4.3%
Financial Strength
Quick Ratio 165
Current Ratio 0
LT Debt to Equity 0.2%
Total Debt to Equity 0.3%
Interest Coverage 93
Management Effectiveness
Return On Assets 7.6%
Ret/ On Assets - 3 Yr. Avg. 9.3%
Return On Total Capital 15.4%
Ret/ On T. Cap. - 3 Yr. Avg. 17.7%
Return On Equity 15.4%
Return On Equity - 3 Yr. Avg. 17.7%
Asset Turnover 2.1
Profitability Ratios
Gross Margin 29.9%
Gross Margin - 3 Yr. Avg. 30.2%
EBITDA Margin 8.8%
EBITDA Margin - 3 Yr. Avg. 9.9%
Operating Margin 5.7%
Oper. Margin - 3 Yr. Avg. 7.1%
Pre-Tax Margin 5.8%
Pre-Tax Margin - 3 Yr. Avg. 7.1%
Net Profit Margin 3.6%
Net Profit Margin - 3 Yr. Avg. 4.4%
Effective Tax Rate 37.3%
Eff/ Tax Rate - 3 Yr. Avg. 37.8%
Payout Ratio 23.7%

DKS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DKS stock intrinsic value calculation we used $7922 million for the last fiscal year's total revenue generated by Dick's Sporting Goods. The default revenue input number comes from 2017 income statement of Dick's Sporting Goods. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our DKS stock valuation model: a) initial revenue growth rate of 9.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for DKS is calculated based on our internal credit rating of Dick's Sporting Goods, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Dick's Sporting Goods.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of DKS stock the variable cost ratio is equal to 92.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for DKS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 90.9% for Dick's Sporting Goods.

Corporate tax rate of 27% is the nominal tax rate for Dick's Sporting Goods. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the DKS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for DKS are equal to 19.7%.

Life of production assets of 10 years is the average useful life of capital assets used in Dick's Sporting Goods operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for DKS is equal to 5.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1929 million for Dick's Sporting Goods - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 111.308 million for Dick's Sporting Goods is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Dick's Sporting Goods at the current share price and the inputted number of shares is $3.0 billion.

RELATED COMPANIES Price Int.Val. Rating
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COMPANY NEWS

▶ Yahoo Finance Live: Midday Movers - Aug 18th, 2017   [08:54AM  Yahoo Finance Video]
▶ Foot Locker Drops Another Shoe   [08:08AM  TheStreet.com]
▶ [$$] Under Armours Self-Inflicted Wound   [12:19AM  The Wall Street Journal]
▶ [$$] Under Armour's Self-Inflicted Wound   [Aug-17-17 01:11PM  The Wall Street Journal]
▶ Foot Locker: Bad News is Good News?   [12:01PM  Barrons.com]
▶ Foot Locker: Freak Out Friday?   [12:02PM  Barrons.com]
▶ Dick's Stock Rebounds as Wall Street Pummels   [11:00AM  TheStreet.com]
▶ Company News For August 16, 2017   [10:21AM  Zacks]
▶ Dick's Sporting Goods: Too Late to Sell?   [09:42AM  Barrons.com]
▶ Declines in Retailers Shares Pressure U.S. Stocks   [12:28AM  The Wall Street Journal]
▶ Dick's misses Street 2Q forecasts   [Aug-15-17 10:43PM  Associated Press]
▶ What Happened in the Stock Market Today   [05:10PM  Motley Fool]
▶ [$$] Are Retail Sales Dead? Depends Where You Look   [04:31PM  The Wall Street Journal]
▶ Stack marshals Dick's for a sporting goods price war   [02:08PM  American City Business Journals]
▶ Retailer Earnings: More Bad News On Tap?   [10:33AM  Barrons.com]
▶ [$$] A Bargain in Retail's Wreckage   [Aug-11-17 10:33PM  Barrons.com]
▶ On the new playing field in retail, Under Armour takes a hit   [Aug-01-17 10:17AM  Associated Press]
▶ Will Under Armour Shoot an Airball Next Week?   [Jul-27-17 12:02PM  Barrons.com]
▶ Wolfe Downgrades Dicks on E-Commerce Concerns   [Jul-25-17 03:28PM  TheStreet.com]
▶ Nike: Not Done Yet?   [01:03PM  Barrons.com]
Stock chart of DKS Financial statements of DKS
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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