DILLARD'S, INC. DDS
Dillard's, Inc. ("Dillard's", the "Company", "we", "us", "our" or "Registrant") ranks among the nation's largest fashion apparel, cosmetics and home furnishing retailers. The Company, originally founded in 1938 by William T. Dillard, was incorporated in Delaware in 1964 (and was reincorporated in Texas in 2025). As of January 31, 2026, we operated 271 Dillard's stores, including 28 clearance centers, and an Internet store at dillards.com offering a wide selection of merchandise including fashion apparel for women, men and children, accessories, cosmetics, home furnishings and other consumer goods. The Company also operates a general contracting construction company, CDI Contractors, LLC ("CDI"), a portion of whose business includes constructing and remodeling stores for the Company.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.47B | $6.48B | $6.75B | $6.87B | $6.49B | $4.43B | $6.34B | $6.50B | $6.42B | $6.42B |
| Cost of revenue | $3.92B | $3.92B | $4.03B | $3.98B | $3.75B | $3.07B | $4.24B | $4.29B | $4.20B | $4.17B |
| Gross profit | $2.56B | $2.56B | $2.72B | $2.89B | $2.75B | $1.23B | $1.97B | $2.06B | $2.06B | $2.09B |
| SG&A | $1.76B | $1.73B | $1.72B | $1.67B | $1.54B | $1.21B | $1.69B | $1.69B | $1.68B | $1.65B |
| Interest expense | $41.0M | $39.9M | $40.6M | $43.4M | $43.1M | $49.1M | $46.2M | $52.5M | $62.6M | $63.1M |
| Pre-tax income | $694.5M | $729.7M | $916.6M | $1.11B | $1.09B | -$153.4M | $133.9M | $208.0M | $212.7M | $257.7M |
| Income tax | $124.7M | $136.2M | $177.8M | $217.8M | $225.9M | $81.8M | $22.8M | $37.7M | $7.8M | $88.5M |
| Net income | $570.2M | $593.5M | $738.8M | $891.6M | $862.5M | -$71.7M | $111.1M | $170.3M | $221.3M | $169.2M |
| EPS, basic | 36.42 | 36.82 | 44.73 | 50.81 | 41.88 | -3.16 | 4.38 | 6.23 | 7.51 | 4.93 |
| EPS, diluted | 36.42 | 36.82 | 44.73 | 50.81 | 41.88 | -3.16 | 4.38 | 6.23 | 7.51 | 4.93 |
| Shares, diluted (wtd. avg.) | $15.7K | $16.1K | $16.5K | $17.5K | $20.6K | $22.7K | $25.4M | $27.3M | $29.5M | $34.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $861.5M | $717.9M | $808.3M | $660.3M | $716.8M | $360.3M | $277.1M | $123.5M | $187.0M | $347.0M |
| Receivables | $39.7M | $55.7M | $60.5M | $57.0M | $39.8M | $36.7M | $46.2M | $49.9M | $38.4M | $48.2M |
| Total current assets | $2.39B | $2.37B | $2.21B | $2.07B | $1.91B | $1.66B | $1.85B | $1.77B | $1.74B | $1.84B |
| Property, plant and equipment | — | — | — | — | — | $1.29B | $1.46B | $1.59B | $1.70B | $1.79B |
| Total assets | $3.51B | $3.53B | $3.45B | $3.33B | $3.25B | $3.09B | $3.43B | $3.43B | $3.68B | $3.90B |
| Accounts payable | $772.4M | $795.0M | $782.5M | $828.5M | $886.2M | $758.4M | $892.8M | $921.2M | $845.3M | $839.3M |
| Short-term debt | — | — | — | — | — | — | — | $0 | $160.9M | $87.2M |
| Total current liabilities | $902.1M | $834.9M | $827.8M | $859.0M | $966.2M | $772.9M | $930.8M | $933.5M | $1.05B | $976.5M |
| Long-term debt | — | — | — | — | — | — | $365.7M | $365.6M | $365.4M | $526.1M |
| Retained earnings | $6.31B | $6.23B | $6.05B | $5.65B | $5.03B | $4.47B | $4.56B | $4.46B | $4.37B | $4.15B |
| Total equity | $1.78B | $1.80B | $1.70B | $1.60B | $1.45B | $1.44B | $1.62B | $1.68B | $1.71B | $1.72B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $717.0M | $714.1M | $883.6M | $948.4M | $1.28B | $252.9M | $365.1M | $367.3M | $274.3M | $512.2M |
| Capital expenditure | $93.4M | $104.6M | $132.9M | $120.1M | $104.4M | $60.5M | $103.4M | $137.1M | $130.5M | $104.8M |
| Investing cash flow | $22.5M | -$269.7M | -$115.6M | -$235.9M | -$69.8M | -$48.4M | -$68.1M | -$127.7M | -$110.2M | -$114.9M |
| Financing cash flow | -$595.9M | -$534.8M | -$620.0M | -$769.0M | -$853.8M | -$121.3M | -$143.4M | -$303.1M | -$324.0M | -$253.2M |
| Dividends paid | $484.9M | $413.8M | $338.6M | $271.3M | $305.2M | $14.0M | $11.5M | $11.1M | $9.4M | $9.8M |
| Buybacks | $107.8M | $121.0M | $281.4M | $452.9M | $544.9M | $102.9M | $130.9M | $129.9M | $223.0M | $240.2M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-039765.
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