Quality Investor

Dillard's, Inc.

Rank #32Value

DDS · NYSE · Consumer Cyclical

Dillard's, Inc. (DDS) — Rank #32 by gross profitability (GP/assets 0.68) · ROE 26.9% · Piotroski F-Score N/A.

As-of 2026-09-15 · CIK 0000028917 · all metrics point-in-time as of the filing date.

About

Dillard's, Inc. operates retail department stores in the southeastern, southwestern, and midwestern areas of the United States.

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The company offers fashion apparel for men, women, and children; accessories, cosmetics, home furnishings, and other consumer goods through dillards.com, an Internet store and clearance centers. It also engages in the general contracting construction activities, such as constructing and remodeling stores for the company.

The company was founded in 1938 and is based in Little Rock, Arkansas.

Industry
Department Stores
Sector
Consumer Cyclical
State
TX
Filer Category
Large accelerated filer
Fiscal Year End
January 30

Price History

DDS+315.0% · +32.9% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E and dividend yield are the primary valuation lenses for mature businesses.

Market Cap

$10.12B

P/E (annual)

17.8

P/S (annual)

1.5

P/B

4.8

P/OCF (annual)

14.1

Shareholder Yield

7.7%

Employees

Industry

Department Stores

Exchange

NYSE

Signal Flags

2 green1 red
Revenue growth acceleratingGrowth rate increasing year over year
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 2-quarter streak
Revenue declining YoYRevenue contracted year over year

Quality Profile

Profitability

1/1 pass
GP / assets
0.68
Return on equity
26.9%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.77
Current ratio
3.03×
Net cash
$763.08M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue

Growth

1/2 pass
Revenue growth
-0.4%
Piotroski F-Score
N/A
Share dilution
-2.9%

Terry Smith quality gate

Passes 1/5 Terry Smith thresholds

3 of 5 thresholds not computable from filed data.

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

15.2xExpensive
5.9xmed 9.7x15.2x

P / S

Price / revenue per share

0.0xFair
0.0xmed 0.2x0.9x

P / B

Price / book value per share

0.0xFair
0.0xmed 0.8x4.1x

P / GP

Price / gross profit per share

0.0xFair
0.0xmed 0.6x2.2x

P / FCF

Price / free cash flow per share

0.0xFair
0.0xmed 3.8x16.5x

Dividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).

Profitability

Gross profitability (GP / assets)

0.68

Primary signal (Novy-Marx).

1st of 6 SIC 53 peers

Return on equity

26.9%

Gross margin

39.0%

2nd of 6 SIC 53 peers

Revenue growth (YoY)

-0.4%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2023202420252026
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

-2.1%

Revenue CAGR (5Y)

8.2%

Earnings CAGR (3Y)

-13.8%

FCF CAGR (3Y)

-9.0%

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.77

2nd of 6 SIC 53 peers (best = lowest)

Current ratio

3.03×

1st of 6 SIC 53 peers

Quick ratio

0.91×

Net cash

$763.08M

Cash & equivalents minus total debt.

Recession resistance

Revenue through recessions

Worst single-year YoY revenue decline, 18 years of history

Moderate
2008-2009 (GFC)
N/AN/A
2020 (COVID)
-2.5%Mild decline
Worst year on record(any fiscal year, not recession-limited)
-30.1%Significant decline

Cash-flow health

Free cash flow

$623.63M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

0.09

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

Stock-based comp intensity.

Dividend safety

Composite score

1.8 / 5

Weak
Payout ratio
85.0%1/5 Weak
FCF coverage
1.29×2/5 Fair
Dividend growth streak
3 yr2/5 Fair
Balance-sheet health
D/E 0.77 · IC N/A2/5 Fair

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

20212026
Decline
Hypergrowth
Capital Return
Value