Dicks Sporting Goods Inc (DKS) is slightly undervalued and Ulta Beauty Inc (ULTA) is fairly valued.
Against our estimates of intrinsic value, DKS trades at the wider discount: a margin of safety of +19%, against -2% for ULTA.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.3% (average of 3 methods) values the shares at $164.60; the price of $133.94 is 19% below that value, and 79% of that value comes from beyond year five.
Leak Score 35/100 on 3 of 12 signals
Discounting its cash flows at 9.4% (average of 3 methods) values the shares at $541.68; the price of $553.86 is 2% above that value, and 75% of that value comes from beyond year five.
Leak Score 67/100 on 9 of 12 signals
| Metric | DKS | ULTA |
|---|---|---|
| Verdict | Slightly undervalued | Fairly valued |
| Price | $133.94 | $553.86 |
| Intrinsic value | $164.60 | $541.68 |
| Margin of safety | +19% | -2% |
| Leak Score | 35/100 (3/12) | 67/100 (9/12) |
| Market cap | $11.9B | $23.7B |
| Revenue growth, 5 years | 12.4% | 15.0% |
| Operating margin | 6.4% | 12.6% |
| Net margin | 4.0% | 9.3% |
| Return on equity | 18.5% | 46.1% |
| Debt to equity | 1.39 | 0.95 |
| P/E | 14.4x | 20.2x |
| Forward P/E | 10.1x | 17.2x |
| P/B | 2.1x | 9.0x |
| Dividend yield | 3.7% | — |