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BGFV

Big 5 Sporting Goods NasdaqGS:BGFV Stock Report

Last Price

US$10.89

Market Cap

US$236.9m

7D

3.1%

1Y

-55.4%

Updated

03 Oct, 2022

Data

Company Financials +
BGFV fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance2/6
Financial Health6/6
Dividends4/6

BGFV Stock Overview

Big 5 Sporting Goods Corporation operates as a sporting goods retailer in the western United States.

Big 5 Sporting Goods Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Big 5 Sporting Goods
Historical stock prices
Current Share PriceUS$10.89
52 Week HighUS$47.65
52 Week LowUS$10.30
Beta2.62
1 Month Change-7.95%
3 Month Change-4.81%
1 Year Change-55.41%
3 Year Change413.68%
5 Year Change45.20%
Change since IPO-17.31%

Recent News & Updates

Aug 19
Big 5 Sporting Goods (NASDAQ:BGFV) Will Pay A Dividend Of $0.25

Big 5 Sporting Goods (NASDAQ:BGFV) Will Pay A Dividend Of $0.25

Big 5 Sporting Goods Corporation ( NASDAQ:BGFV ) has announced that it will pay a dividend of $0.25 per share on the...

Aug 16

Hold Big 5 Sporting Goods For The Dividend

Big 5 currently pays a $1 per year dividend. Q2 results showed slowing post-pandemic sales. The dividend is solid, but this is a no-growth company model. Big 5 Sporting Goods Corporation (BGFV) is a national retail outlet for sporting goods with 431 stores. It operates in a competitive arena. DICK'S Sporting Goods (DKS) is considerably larger, with 858 stores. Walmart (WMT) and other large retailers offer many of the same types of items as Big 5. Other physical and internet retailers compete in specific categories including shoes, sportswear, ski equipment, and camping equipment. The dividend of $0.25 will next be paid on September 15 to shareholders of record as of September 1, 2022. That means investors can earn a very high rate of interest by buying stock during the remainder of August. The wisdom, or not, of that will be discussed below. In this article I will examine where Big 5 would fit, or not, in portfolios. My own portfolio consisted largely of small to mid-cap biotech stocks until about 2 years ago. While I am mostly retaining those companies, I have also been gradually adding slower-growth, less risky dividend stocks. Big 5 is clearly a dividend stock, but it may not fit well in every dividend-oriented portfolio. Perhaps the most important issue is whether the dividend is sustainable. BGFV data by YCharts Big 5 Q2 2022 Results Most retailing is seasonal, and sporting goods has its own specific dynamics. The fourth quarter, the gift giving season so big for many retailers, is not Big 5’s strongest. It coincides with initial sales of winter clothing and ski equipment. The first quarter, Winter, also tends to have weakness. The second quarter is typically strongest, as Spring compels people to venture outside with new clothing and equipment. Then the third quarter slacks off a bit as some summer sales continue, followed by the addition of back-to-school, including school sports, sales. To give context, here are revenue results for Big 5 for the four quarters of 2021: BGFV revenue, $ millions Q1 2021 273 Q2 2021 326 Q3 2021 290 Q4 2021 273 Big 5 in Q2 2022 (fiscal, ending July 3) reported revenue of $254 million, which was down 22% from $326 million in the year-earlier quarter. In fact it was below every 2021 quarter. Same store sales were also down 22%, but the company pointed out that going back two years for comparison, same store sales were up 4%. 2020 was a less than stellar year because of the pandemic, while 2021 was boosted by government stimulus checks. After expenses net income was $8.9 million, or $0.41 per share. That is down significantly from Q2 2021, when net income was $26.8 million or $1.63 per share. Big 5 ended the quarter with $36.6 million in cash. It had no long-term liabilities, but it did have accounts payable of $115 million, accrued expenses of $68 million, and lease liabilities. On the positive side it had $19 million in prepaid expenses, $14 million in accounts receivable, and $338 million in inventory. Post-pandemic Outlook The price of any stock tends to be more about the future than the past. We know the past, but we are guessing about the future even when we use the word forecasting. Given the interest rate raises from the Federal Reserve, and the likelihood they will continue for a while, we may see a flattening of consumer demand, or even a recession. Meanwhile margins are a crucial issue for retailers: how much will suppliers want to raise their prices, and how much of that can be passed on to consumers? In Q2 margins were strong, 310 basis points higher than in pre-pandemic second quarters, though down 102 basis points y/y. CEO Steve Miller reported that because inventory has been kept current, Big 5 can use promotions strategically, rather than to clear excess inventory at low margins. A focus continues to be on keeping costs down, which has been a key to the company’s long-term success.

Shareholder Returns

BGFVUS Specialty RetailUS Market
7D3.1%-2.2%-2.5%
1Y-55.4%-36.5%-23.2%

Return vs Industry: BGFV underperformed the US Specialty Retail industry which returned -36.5% over the past year.

Return vs Market: BGFV underperformed the US Market which returned -23.2% over the past year.

Price Volatility

Is BGFV's price volatile compared to industry and market?
BGFV volatility
BGFV Average Weekly Movement10.2%
Specialty Retail Industry Average Movement7.9%
Market Average Movement6.8%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.8%

Stable Share Price: BGFV is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: BGFV's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19555,100Steven Millerhttps://www.big5sportinggoods.com

Big 5 Sporting Goods Corporation operates as a sporting goods retailer in the western United States. The company’s products include athletic shoes, apparel, and accessories. It also offers a selection of outdoor and athletic equipment for team sports, fitness, camping, hunting, fishing, tennis, golf, and winter and summer recreation, as well as home recreation.

Big 5 Sporting Goods Fundamentals Summary

How do Big 5 Sporting Goods's earnings and revenue compare to its market cap?
BGFV fundamental statistics
Market CapUS$236.93m
Earnings (TTM)US$62.07m
Revenue (TTM)US$1.06b

3.8x

P/E Ratio

0.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BGFV income statement (TTM)
RevenueUS$1.06b
Cost of RevenueUS$672.46m
Gross ProfitUS$386.31m
Other ExpensesUS$324.24m
EarningsUS$62.07m

Last Reported Earnings

Jul 03, 2022

Next Earnings Date

n/a

Earnings per share (EPS)2.85
Gross Margin36.49%
Net Profit Margin5.86%
Debt/Equity Ratio0%

How did BGFV perform over the long term?

See historical performance and comparison

Dividends

9.2%

Current Dividend Yield

35%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is BGFV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BGFV?

Other financial metrics that can be useful for relative valuation.

BGFV key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.5x
Enterprise Value/EBITDA5.2x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does BGFV's PE Ratio compare to its peers?

BGFV PE Ratio vs Peers
The above table shows the PE ratio for BGFV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average3.1x
TCS Container Store Group
3.6x-10.5%US$267.5m
BBW Build-A-Bear Workshop
3.9xn/aUS$195.0m
PRTY Party City Holdco
1.5xn/aUS$174.0m
SPWH Sportsman's Warehouse Holdings
3.4x-18.1%US$334.3m
BGFV Big 5 Sporting Goods
3.8xn/aUS$236.9m

Price-To-Earnings vs Peers: BGFV is expensive based on its Price-To-Earnings Ratio (3.8x) compared to the peer average (3.1x).


Price to Earnings Ratio vs Industry

How does BGFV's PE Ratio compare vs other companies in the US Specialty Retail Industry?

Price-To-Earnings vs Industry: BGFV is good value based on its Price-To-Earnings Ratio (3.8x) compared to the US Specialty Retail industry average (6x)


Price to Earnings Ratio vs Fair Ratio

What is BGFV's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BGFV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.8x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate BGFV's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of BGFV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BGFV ($10.89) is trading below our estimate of fair value ($18.67)

Significantly Below Fair Value: BGFV is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Big 5 Sporting Goods forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-0.5%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if BGFV's forecast earnings growth is above the savings rate (1.9%).

Earnings vs Market: Insufficient data to determine if BGFV's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if BGFV's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BGFV's revenue is expected to decline over the next 3 years (-0.5% per year).

High Growth Revenue: BGFV's revenue is forecast to decline over the next 3 years (-0.5% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if BGFV's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Big 5 Sporting Goods performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


60.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BGFV has a high level of non-cash earnings.

Growing Profit Margin: BGFV's current net profit margins (5.9%) are lower than last year (9%).


Past Earnings Growth Analysis

Earnings Trend: BGFV's earnings have grown significantly by 60.3% per year over the past 5 years.

Accelerating Growth: BGFV's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BGFV had negative earnings growth (-42.2%) over the past year, making it difficult to compare to the Specialty Retail industry average (0.1%).


Return on Equity

High ROE: BGFV's Return on Equity (23%) is considered high.


Discover strong past performing companies

Financial Health

How is Big 5 Sporting Goods's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: BGFV's short term assets ($407.4M) exceed its short term liabilities ($263.9M).

Long Term Liabilities: BGFV's short term assets ($407.4M) exceed its long term liabilities ($239.7M).


Debt to Equity History and Analysis

Debt Level: BGFV is debt free.

Reducing Debt: BGFV has no debt compared to 5 years ago when its debt to equity ratio was 23.2%.

Debt Coverage: BGFV has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: BGFV has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Big 5 Sporting Goods's current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


9.18%

Current Dividend Yield

Dividend Yield vs Market

Big 5 Sporting Goods Dividend Yield vs Market
How does Big 5 Sporting Goods dividend yield compare to the market?
SegmentDividend Yield
Company (Big 5 Sporting Goods)9.2%
Market Bottom 25% (US)1.7%
Market Top 25% (US)4.7%
Industry Average (Specialty Retail)2.6%
Analyst forecast in 3 Years (Big 5 Sporting Goods)9.2%

Notable Dividend: BGFV's dividend (9.18%) is higher than the bottom 25% of dividend payers in the US market (1.67%).

High Dividend: BGFV's dividend (9.18%) is in the top 25% of dividend payers in the US market (4.75%)


Stability and Growth of Payments

Stable Dividend: BGFV's dividend payments have been volatile in the past 10 years.

Growing Dividend: BGFV's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (35%), BGFV's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: BGFV is paying a dividend but the company has no free cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

11.2yrs

Average management tenure


CEO

Steven Miller (70 yo)

20.75yrs

Tenure

US$1,675,720

Compensation

Mr. Steven G. Miller serves as Chairman, Chief Executive Officer and President of Big 5 Sporting Goods Corporation since 2002, 2000 and 1992, respectively and served as its Director since June 2002. He was...


CEO Compensation Analysis

Steven Miller's Compensation vs Big 5 Sporting Goods Earnings
How has Steven Miller's remuneration changed compared to Big 5 Sporting Goods's earnings?
DateTotal Comp.SalaryCompany Earnings
Jul 03 2022n/an/a

US$62m

Apr 03 2022n/an/a

US$90m

Jan 02 2022US$2mUS$613k

US$102m

Oct 03 2021n/an/a

US$104m

Jul 04 2021n/an/a

US$108m

Apr 04 2021n/an/a

US$82m

Jan 03 2021US$1mUS$615k

US$56m

Sep 27 2020n/an/a

US$35m

Jun 28 2020n/an/a

US$13m

Mar 29 2020n/an/a

US$2m

Dec 29 2019US$863kUS$581k

US$8m

Sep 29 2019n/an/a

US$3m

Jun 30 2019n/an/a

-US$282k

Mar 31 2019n/an/a

-US$558k

Dec 30 2018n/an/a

-US$4m

Sep 30 2018n/an/a

-US$11m

Jul 01 2018n/an/a

-US$9m

Apr 01 2018n/an/a

-US$6m

Dec 31 2017US$911kUS$550k

US$1m

Oct 01 2017n/an/a

US$22m

Jul 02 2017n/an/a

US$24m

Apr 02 2017n/an/a

US$23m

Jan 01 2017US$865kUS$532k

US$17m

Oct 02 2016n/an/a

US$13m

Jul 03 2016n/an/a

US$11m

Apr 03 2016n/an/a

US$12m

Jan 03 2016US$854kUS$520k

US$15m

Compensation vs Market: Steven's total compensation ($USD1.68M) is about average for companies of similar size in the US market ($USD1.68M).

Compensation vs Earnings: Steven's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

Experienced Management: BGFV's management team is seasoned and experienced (11.2 years average tenure).


Board Members

Experienced Board: BGFV's board of directors are considered experienced (9.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

NasdaqGS:BGFV Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
13 May 22SellUS$43,012Shane StarrIndividual3,135US$13.72
15 Nov 21SellUS$1,593,113Steven MillerIndividual41,885US$41.01
15 Nov 21SellUS$1,871,200Robert W. and Florence Miller Family Partners L.P.,Company50,000US$41.01
12 Nov 21SellUS$352,000Stephen CarleyIndividual8,000US$44.00
12 Nov 21SellUS$2,253,560Steven MillerIndividual50,000US$46.36
12 Nov 21SellUS$2,264,347Robert W. and Florence Miller Family Partners L.P.,Company50,000US$47.34
11 Nov 21SellUS$297,360Colleen BrownIndividual7,000US$42.48
11 Nov 21SellUS$1,481,122Boyd ClarkIndividual35,242US$45.72
11 Nov 21SellUS$2,682,789Van HoneycuttIndividual66,303US$41.41
11 Nov 21SellUS$7,229,267Steven MillerIndividual178,675US$43.36
10 Nov 21SellUS$1,551,967Jennifer DunbarIndividual39,953US$39.00

Ownership Breakdown

What is the ownership structure of BGFV?
Owner TypeNumber of SharesOwnership Percentage
Private Companies274,2321.3%
Individual Insiders864,9714.0%
General Public10,091,73246.4%
Institutions10,525,58748.4%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 43.01% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
6.45%
BlackRock, Inc.
1,403,279$15.3m2.92%no data
4.89%
The Vanguard Group, Inc.
1,064,043$11.6m-3.51%no data
4.26%
Dimensional Fund Advisors LP
927,263$10.1m-0.74%no data
2.62%
Steven Miller
570,960$6.2m0%no data
2.44%
State Street Global Advisors, Inc.
529,928$5.8m-27.77%no data
2.05%
BNY Mellon Asset Management
446,425$4.9m-0.4%no data
1.97%
Goldman Sachs Group, Investment Banking and Securities Investments
428,359$4.7m70.72%no data
1.78%
Geode Capital Management, LLC
388,108$4.2m1.15%no data
1.74%
Hotchkis and Wiley Capital Management, LLC
378,020$4.1m22.67%0.02%
1.45%
Cambria Investment Management, L.P.
315,401$3.4m88.55%0.35%
1.41%
Bridgeway Capital Management, LLC
307,300$3.3m-0.71%0.08%
1.26%
Robert W. and Florence Miller Family Partners L.P.,
274,232$3.0m0%no data
1.08%
Charles Schwab Investment Management, Inc.
233,973$2.5m30.73%no data
1%
Susquehanna International Group, LLP, Asset Management Arm
217,893$2.4m-55.6%0.01%
0.97%
D. E. Shaw & Co., L.P.
211,967$2.3m450.91%no data
0.93%
Two Sigma Advisers, LP
201,700$2.2m-37.11%0.01%
0.91%
Northern Trust Global Investments
197,540$2.2m-0.8%no data
0.86%
American Century Investment Management Inc
186,443$2.0m25.7%no data
0.84%
Morgan Stanley, Investment Banking and Brokerage Investments
183,841$2.0m-25.12%no data
0.76%
Balyasny Asset Management L.P.
164,568$1.8m117.17%0.01%
0.75%
PGIM, Inc.
162,395$1.8m138.83%no data
0.7%
Societe Generale, Securities Investments
153,372$1.7m309.02%0.02%
0.69%
Columbia Management Investment Advisers, LLC
149,510$1.6m23.9%no data
0.61%
Arrowstreet Capital, Limited Partnership
132,038$1.4m-28.45%no data
0.6%
Hussman Strategic Advisors Inc
130,000$1.4m25%0.25%

Company Information

Big 5 Sporting Goods Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Big 5 Sporting Goods Corporation
  • Ticker: BGFV
  • Exchange: NasdaqGS
  • Founded: 1955
  • Industry: Specialty Stores
  • Sector: Retail
  • Implied Market Cap: US$236.929m
  • Shares outstanding: 21.76m
  • Website: https://www.big5sportinggoods.com

Number of Employees


Location

  • Big 5 Sporting Goods Corporation
  • 2525 East El Segundo Boulevard
  • El Segundo
  • California
  • 90245
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BGFVNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJun 2002
BG3DB (Deutsche Boerse AG)YesCommon StockDEEURJun 2002

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/03 00:00
End of Day Share Price2022/10/03 00:00
Earnings2022/07/03
Annual Earnings2022/01/02


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.