DICK'S Sporting Goods, Inc.

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: $750M normalized annual FCF base (between FY2024's $939.9M pre-acquisition level and the depressed TTM $239.4M, reflecting elevated capex from the Foot Locker integration normalizing over time); 6% FCF growth years 1-5, 4% years 6-10; 8.5% discount rate; 3% terminal growth; $7,049M net debt ($913.7M cash less $7,963M total debt, which includes Foot Locker acquisition financing); 89.50M shares outstanding.

Reasoning: DKS generates strong historical free cash flow but recent FCF is temporarily depressed by heavy integration capex following its Foot Locker acquisition, so a DCF using a normalized FCF base better reflects steady-state earning power than the depressed trailing FCF figure.