Dillard's
DDS on NYSE. Dillard's sells clothes, cosmetics, and home goods to shoppers in stores and online. Market value $3.5bn.
Price checks use the past 12 months to July 2026. Quality checks use five annual reports, the latest for the year to January 2026.
We can't read total debt from the filing, so debt is left out.
The company doesn't report operating profit, so we work it out from pre-tax profit and interest.
Should I look at this?
Worth a closer look
Why it could be worth it
What to watch out for
Nothing stood out in the numbers we check.
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $6.19 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 77 of 100. Price score: 83 of 100. Our list needs 70 on quality and 60 on price.
$655.25 a share, 30% above its 1-year low
Over the past year the price has ranged from $503.06 to $741.98.
Dividend: 4.7% a year
Paid every year for at least 5 years
Payouts have jumped around in recent years, so this may not repeat.
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $6.6bn | $7.0bn | $6.9bn | $6.6bn | $6.6bn |
| Operating margin | |||||
| Operating margin | 17.1% | 16.3% | 13.3% | 11.7% | 11.2% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.02bn | 0.02bn | 0.02bn | 0.02bn | 0.02bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)5 of 7 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsSlow, 8.2% a year
- Buying back its own sharesYes, 24% fewer since 2022
The quarter to July 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $1.5 billion last quarter, about the same as a year ago.
- Profit: $98 million, up 34% on a year ago.
- Spare cash over the past 12 months: $635 million, down from $771 million.
- About the same number of shares as a year ago.
- Sales grew on a year ago in 2 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| October 2024 | $1.5bn |
| January 2025 | $2.1bn |
| April 2025 | $1.5bn |
| July 2025 | $1.5bn |
| October 2025 | $1.5bn |
| January 2026 | $2.0bn |
| April 2026 | $1.6bn |
| July 2026 | $1.5bn |
| Quarter to | Amount |
|---|---|
| October 2024 | $125m |
| January 2025 | $214m |
| April 2025 | $164m |
| July 2025 | $73m |
| October 2025 | $130m |
| January 2026 | $204m |
| April 2026 | $251m |
| July 2026 | $98m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 27 March 2026
- Next quarterly (estimated, 10-Q)
- 4 December 2026
Who owns it
3 long-term investors we follow own it, unchanged from 3 last quarter. 312 funds in all.
- LSV Asset ManagementJosef Lakonishok
- Value
- $317,000
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Gotham Asset ManagementJoel Greenblatt | $63m | 0.1% | Added |
| Royce & AssociatesChuck Royce | $13m | 0.1% | Added |
| LSV Asset ManagementJosef Lakonishok | $317,000 | <0.1% |
Largest holders overall
- Newport Trust Company$2.4bn
- BlackRock$115mAdded
- Dimensional Fund Advisors LP$114m
- UBS Group AG$101mAdded
- Allianz Asset Management GmbH$86m
- Renaissance Technologies$85mAdded
- AQR Capital Management$84mAdded
- Vanguard Portfolio Management$83mAdded
- Morgan Stanley$79mAdded
- Vanguard Capital Management$70m
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%.
- Newport Trust Company, LLCPassive investor38.8%Since 30 September 2025
- Alex DillardInsider or founderat least 31.8%(filed with 2 related holders)Since 4 June 2026
What they said
The information set forth in Item 6 of this Schedule 13D is incorporated herein by reference. Merger Agreement On June 4, 2026, the Issuer completed the transactions contemplated by that certain Agreement and Plan of Merger, dated as of March 20, 2026 (the "Original Merger…
Read the filing - W.D. Company, Inc.Passive investorSold down below 5%Since 4 June 2026
| Holder | Stake | Since | |
|---|---|---|---|
Newport Trust Company, LLC Passive investor | 38.8% | 30 September 2025 | |
Alex Dillard Insider or founder | at least 31.8% (filed with 2 related holders) | 4 June 2026 | What they saidThe information set forth in Item 6 of this Schedule 13D is incorporated herein by reference. Merger Agreement On June 4, 2026, the Issuer completed the transactions contemplated by that certain Agreement and Plan of Merger, dated as of March 20, 2026 (the "Original Merger… Read the filing |
W.D. Company, Inc. Passive investor | Sold down below 5% | 4 June 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 1 sold $689,622.
- WATTS J C JRDirectorSold
- Date
- 5 June 2026
- Shares
- 400
- Price
- $609.18
- Value
- $243,672
- WATTS J C JRDirectorSold
- Date
- 16 October 2025
- Shares
- 750
- Price
- $594.60
- Value
- $445,950
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 5 June 2026 | WATTS J C JR Director | Sold | 400 | $609.18 | $243,672 |
| 16 October 2025 | WATTS J C JR Director | Sold | 750 | $594.60 | $445,950 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 27 Mar 2026, plus the 10-Q filed 4 Sep 2026 and 5 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.