Academy Sports and Outdoors, Inc. (ASO) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 27	$2.08	$2.31	+11.1%	—	$1.6B	—
Q1 27	$0.91	$0.93	+2.2%	—	$1.4B	—
Q4 26	$2.05	$1.97	-3.9%	—	$1.7B	—
Q3 26	$1.06	$1.14	+7.5%	—	$1.4B	—
Q2 26	$2.13	$1.94	-8.9%	—	$1.6B	—
Q1 26	$0.89	$0.76	-14.6%	—	$1.4B	—
Q4 25	$1.82	$1.96	+7.7%	—	$1.7B	—
Q3 25	$1.27	$0.98	-22.8%	—	$1.3B	—
Q2 25	$2.02	$2.03	+0.5%	—	$1.5B	—
Q1 25	$1.22	$1.08	-11.5%	—	$1.4B	—
Q4 24	$2.31	$2.21	-4.3%	—	$1.8B	—
Q3 24	$1.58	$1.38	-12.7%	—	$1.4B	—
Q2 24	$2	$2.09	+4.5%	—	$1.6B	—
Q1 24	$1.64	$1.3	-20.7%	—	$1.4B	—
Q4 23	$1.81	$2.04	+12.7%	—	$1.7B	—
Q3 23	$1.59	$1.69	+6.3%	—	$1.5B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	$5.66	—	—	$6.1B	—
FY25	—	$5.87	—	—	$5.9B	—
FY24	—	—	—	—	$6.2B	—
FY23	—	$7.7	—	—	$6.4B	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$4.8B	$4.8B	$4.8B	$5.7B	$6.8B	$6.4B	$6.2B	$5.9B	$6.1B
YoY change	—	-1.07%	+0.96%	+17.8%	+19.1%	-5.58%	-3.69%	-3.67%	+2.02%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	4.8B	4.8B	4.8B	5.7B	6.8B	6.4B	6.2B	5.9B	6.1B
Cost of revenue	3.4B	3.4B	3.4B	4B	4.4B	4.2B	4B	3.9B	3.9B
Gross profit	1.4B	1.4B	1.4B	1.7B	2.4B	2.2B	2.1B	2B	2.1B
Gross margin	28.9%	28.6%	29.6%	30.5%	34.7%	34.6%	34.3%	33.9%	34.8%
Research & development	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.2B	1.2B	1.3B	1.3B	1.4B	1.4B	1.4B	1.5B	1.6B
Operating expenses	1.2B	1.2B	1.3B	1.3B	1.4B	1.4B	1.4B	1.5B	1.6B
Operating income	157.3M	128.9M	179.4M	420.4M	907.9M	846.5M	677.9M	538.6M	512.2M
Operating margin	3.25%	2.7%	3.71%	7.39%	13.4%	13.2%	11%	9.08%	8.46%
Non-operating income, net	8.8M	3.1M	44.7M	5.2M	582K	18.2M	31.4M	36.5M	10.1M
Pretax income	61.3M	23.4M	122.9M	339.1M	859.5M	818.3M	663.2M	538.2M	486.1M
Income tax	2.8M	2M	2.8M	30.4M	188.2M	190.3M	144M	119.8M	109.3M
Net income	58.5M	21.4M	120M	308.8M	671.4M	628M	519.2M	418.4M	376.8M
Net margin	1.21%	0.45%	2.49%	5.43%	9.91%	9.82%	8.43%	7.05%	6.22%
EBITDA	293M	264.8M	299.2M	527.5M	1B	973.5M	821.7M	693.6M	645.1M
EPS	0.7	0.28	1.57	3.96	7.38	7.7	—	5.87	5.66
Diluted EPS	0.69	0.27	1.53	3.79	7.12	7.49	—	5.73	5.54

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27	Q2 27
Revenue	1.4B	1.8B	1.4B	1.5B	1.3B	1.7B	1.4B	1.6B	1.4B	1.7B	1.4B	1.6B
Cost of revenue	915.1M	1.2B	908.4M	990.3M	886.6M	1.1B	892.5M	1B	890.3M	1.1B	962.7M	981.4M
Gross profit	482.6M	597M	455.8M	558.7M	456.7M	540.2M	458.9M	576.7M	493.4M	576.6M	479.3M	665.9M
Gross margin	34.5%	33.3%	33.4%	36.1%	34%	32.2%	34%	36%	35.7%	33.6%	33.2%	40.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	345.9M	393M	353.4M	368.6M	365.2M	385.5M	389.6M	404.4M	393M	406.5M	404.7M	419.5M
Operating expenses	345.9M	393M	353.4M	368.6M	365.2M	385.5M	389.6M	404.4M	393M	406.5M	404.7M	419.5M
Operating income	136.7M	204M	102.4M	190.1M	91.5M	154.7M	69.3M	172.4M	100.4M	170.1M	74.7M	246.4M
Operating margin	9.78%	11.4%	7.5%	12.3%	6.81%	9.22%	5.13%	10.8%	7.26%	9.9%	5.18%	15%
Non-operating income, net	4.1M	19.9M	4.8M	5.5M	6.4M	19.8M	2.8M	1.5M	2.6M	3.2M	3.2M	-59.9M
Pretax income	129.9M	211.3M	97.7M	186.5M	88.7M	165.3M	63M	164.8M	94M	164.2M	68.9M	178.4M
Income tax	30M	43.1M	21.2M	44M	23M	31.7M	16.9M	39.4M	22.5M	30.5M	16.2M	40.5M
Net income	100M	168.2M	76.5M	142.6M	65.8M	133.6M	46.1M	125.4M	71.6M	133.7M	52.7M	137.9M
Net margin	7.15%	9.37%	5.61%	9.21%	4.9%	7.97%	3.41%	7.84%	5.17%	7.78%	3.65%	8.37%
EBITDA	168.3M	255.4M	136.4M	224.5M	127.2M	205.4M	102.2M	204.9M	133.9M	204.1M	108.6M	218.8M
EPS	1.34	—	1.03	1.99	0.94	1.93	0.69	1.89	1.07	2.02	0.82	2.21
Diluted EPS	1.31	—	1.01	1.95	0.92	1.89	0.68	1.85	1.05	1.98	0.8	2.17

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	—	—	—	1.7B	—	—	—	3.7B	3.7B	3B
Enterprise value	—	—	—	3.3B	—	—	—	5.2B	5.2B	4.7B
Shares outstanding	83M	76.6M	76.6M	78M	91M	81.6M	—	71.3M	66.6M	66.6M

Valuation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	—	—	—	5.43	—	—	—	8.92	9.73	8.14
P/S	—	—	—	0.29	—	—	—	0.63	0.61	0.48
P/B	—	—	—	1.51	—	—	—	1.86	1.69	1.38
EV/EBITDA	—	—	—	6.28	—	—	—	7.54	8.1	6.72
EV/Sales	—	—	—	0.58	—	—	—	0.88	0.86	0.76
Earnings yield	—	—	—	18.4%	—	—	—	11.2%	10.3%	12.3%
FCF yield	—	—	—	57.9%	—	—	—	8.78%	6.04%	5.67%
PEG	—	—	—	—	—	—	—	—	—	0.48

Profitability

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	28.9%	28.6%	29.6%	30.5%	34.7%	34.6%	34.3%	33.9%	34.8%	40.4%
Operating margin	3.25%	2.7%	3.71%	7.39%	13.4%	13.2%	11%	9.08%	8.46%	15%
Net margin	1.21%	0.45%	2.49%	5.43%	9.91%	9.82%	8.43%	7.05%	6.22%	6.39%
ROE	—	2.5%	12.1%	27.8%	45.8%	38.6%	26.6%	20.9%	17.4%	18.6%
ROA	—	0.66%	2.77%	7.04%	14.6%	13.7%	11.1%	8.54%	7.14%	6.68%
ROIC	—	4.91%	4.98%	13.9%	25.1%	21.2%	16.1%	12%	10.6%	12%
Return on tangible assets	—	6.48%	8.26%	20.5%	39.3%	36.6%	28.9%	20.7%	15.7%	15.1%

Financial health

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	—	1.85	1.72	1.21	1.52	1.62	1.87	1.78	1.89	1.74
Quick ratio	—	0.19	0.25	0.36	0.48	0.39	0.51	0.42	0.44	0.35
Debt / equity	—	1.9	2.71	1.81	1.26	1.09	0.87	0.89	0.87	0.9
Debt / assets	—	0.5	0.62	0.46	0.4	0.38	0.36	0.36	0.36	0.36
Net debt / EBITDA	—	5.85	8.46	3.11	1.34	1.47	1.64	2.16	2.42	2.51
Interest coverage	1.58	1.22	2.21	4.92	18.5	18.6	15.4	15.6	14.4	15.4
Effective tax rate	4.54%	8.34%	2.29%	8.95%	21.9%	23.3%	21.7%	22.3%	22.5%	21.7%

Per share

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	58.3	62.5	63.1	72.9	74.5	78.4	—	83.2	90.9	95.4
EPS (basic)	0.7	0.28	1.57	3.96	7.38	7.7	—	5.87	5.66	5.66
EPS (diluted)	0.69	0.27	1.53	3.79	7.12	7.49	—	5.73	5.54	5.96
Book value per share	—	11.2	12.9	14.3	16.1	20	—	28.1	32.6	35.1
FCF per share	-0.59	1.18	2.62	12.4	6.57	5.43	—	4.59	3.32	5.2
Cash per share	—	0.99	1.95	4.84	5.34	4.13	—	4.05	4.96	4.84
Capex per share	0.19	0.14	0	0	0	0	—	0.2	3.19	3.4

Capital allocation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	0.33%	0.22%	0%	0%	0%	0%	0.03%	0.24%	3.51%	3.49%
Capex / operating cash flow	17.7%	5.26%	0.01%	0%	0%	0%	0.36%	2.64%	48.9%	39.5%
Payout ratio	—	0%	0%	83.2%	0%	3.92%	5.24%	7.52%	9.2%	9.4%
Dividend yield	—	—	—	15.3%	—	—	—	0.84%	0.95%	1.23%

Yield

1.23%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.15

ex-dividend Sep 16, 2026

Payout ratio

of earnings

Dividend growth

3 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 16, 2026	$0.15
Jun 18, 2026	$0.15
Mar 20, 2026	$0.15
Dec 18, 2025	$0.13
Sep 11, 2025	$0.13
Jun 18, 2025	$0.13
Mar 25, 2025	$0.13
Dec 18, 2024	$0.11

Period	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27	Q2 27
Revenue	$1.4B	$1.8B	$1.4B	$1.5B	$1.3B	$1.7B	$1.4B	$1.6B	$1.4B	$1.7B	$1.4B	$1.6B
YoY change	-6.44%	+2.77%	-1.4%	-2.15%	-3.9%	-6.57%	-0.94%	+3.28%	+3%	+2.48%	+6.7%	+2.97%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	75.7M	149.4M	377.6M	486M	337.1M	347.9M	288.9M	330.3M
Receivables	15.7M	14M	17.3M	19.7M	16.5M	19.4M	16.8M	34.8M
Inventory	1.1B	1.1B	990M	1.2B	1.3B	1.2B	1.3B	1.5B
Total current assets	1.3B	1.3B	1.4B	1.7B	1.7B	1.6B	1.7B	2B
Property, plant & equipment	992.2M	1.6B	1.5B	1.4B	1.5B	1.5B	1.7B	1.8B
Goodwill & intangibles	2.9B	2.9B	2.9B	2.9B	2.9B	2.9B	2.9B	2.9B
Total assets	3.2B	4.3B	4.4B	4.6B	4.6B	4.7B	4.9B	5.3B
Accounts payable	432M	428.8M	791.4M	737.8M	686.5M	541.1M	612.4M	637.9M
Short-term debt	68.3M	110.4M	84.3M	86.1M	112.1M	120.8M	118.1M	150.5M
Total current liabilities	684.5M	750.6M	1.2B	1.1B	1B	879.9M	960.9M	1B
Long-term debt	1.6B	2.6B	1.9B	1.8B	1.7B	1.6B	1.7B	1.7B
Total liabilities	2.4B	3.3B	3.3B	3.1B	3B	2.7B	2.9B	3.1B
Shareholders' equity	857M	988.2M	1.1B	1.5B	1.6B	2B	2B	2.2B
Total debt	1.6B	2.7B	2B	1.8B	1.8B	1.7B	1.8B	1.9B
Net debt	1.5B	2.5B	1.6B	1.4B	1.4B	1.3B	1.5B	1.6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27	Q2 27
Cash & short-term investments	274.8M	347.9M	378.1M	324.6M	296M	288.9M	285.1M	300.9M	289.5M	330.3M	337.8M	298.2M
Receivables	17.7M	19.4M	13.7M	12.8M	18.1M	16.8M	16.9M	19.2M	17.5M	34.8M	17.7M	23M
Inventory	1.5B	1.2B	1.4B	1.4B	1.5B	1.3B	1.6B	1.6B	1.7B	1.5B	1.7B	1.7B
Total current assets	1.9B	1.6B	1.8B	1.8B	1.9B	1.7B	1.9B	2B	2.1B	2B	2.1B	2.1B
Property, plant & equipment	1.6B	1.5B	1.6B	1.6B	1.7B	1.7B	1.7B	1.8B	1.8B	1.8B	1.9B	1.9B
Goodwill & intangibles	2.9B	2.9B	2.9B	2.9B	2.9B	2.9B	2.9B	2.9B	2.9B	2.9B	2.9B	2.9B
Total assets	4.9B	4.7B	4.9B	4.9B	5.1B	4.9B	5.2B	5.3B	5.4B	5.3B	5.5B	5.5B
Accounts payable	820.4M	541.1M	735.6M	704.6M	764.5M	612.4M	849.6M	803.3M	793.6M	637.9M	826.3M	751.6M
Short-term debt	120.1M	120.8M	124.5M	127.6M	133.2M	118.1M	141M	142.7M	127.7M	150.5M	155M	134.4M
Total current liabilities	1.2B	879.9M	1.1B	1.1B	1.2B	960.9M	1.3B	1.2B	1.2B	1B	1.3B	1.2B
Long-term debt	1.7B	1.6B	1.6B	1.6B	1.7B	1.7B	1.7B	1.7B	1.7B	1.7B	1.8B	1.8B
Total liabilities	3.1B	2.7B	3B	2.9B	3.1B	2.9B	3.2B	3.2B	3.3B	3.1B	3.4B	3.3B
Shareholders' equity	1.8B	2B	1.9B	2B	2B	2B	1.9B	2.1B	2.1B	2.2B	2.1B	2.2B
Total debt	1.8B	1.7B	1.7B	1.7B	1.8B	1.8B	1.8B	1.8B	1.9B	1.9B	2B	2B
Net debt	1.5B	1.3B	1.3B	1.4B	1.5B	1.5B	1.5B	1.5B	1.6B	1.6B	1.6B	1.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	58.5M	21.4M	120M	308.8M	671.4M	628M	519.2M	418.4M	376.8M
Depreciation & amortization	133.2M	132.8M	117.3M	105.5M	105.3M	106.8M	110.9M	118.1M	122.9M
Stock-based compensation	4.6M	4.6M	7.9M	31.6M	39.3M	21.2M	24.4M	26.6M	21.2M
Change in working capital	-110.7M	35.8M	34.7M	480M	-234M	-177.7M	-75.8M	-59.9M	-188.2M
Operating cash flow	90.5M	198.4M	288.4M	946.1M	661.4M	623.1M	593.9M	538.6M	434.8M
Capital expenditure	16M	10.4M	23K	0	0	0	2.2M	14.2M	-212.7M
Investing cash flow	16.2M	8.9M	-4M	8.1M	0	0	2.2M	14.2M	-212.7M
Dividends paid	—	0	0	-257M	0	-24.6M	-27.2M	-31.5M	-34.7M
Share repurchases	0	0	0	0	-411.4M	-489.5M	-202.8M	-364.9M	-199M
Financing cash flow	5.5M	-89.8M	-123.2M	-729.3M	-530M	-618.3M	-341M	-410.5M	-231M
Net change in cash	112.2M	117.5M	161.3M	225M	131.4M	4.8M	255.1M	142.3M	-8.8M
Free cash flow	-48.8M	90.6M	200.9M	970.3M	597.2M	443.2M	327.5M	327.7M	221.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27	Q2 27
Net income	100M	—	—	—	—	—	—	—	71.6M	133.7M	52.7M	137.9M
Depreciation & amortization	27.4M	—	—	—	—	—	—	—	30.9M	30.8M	30.8M	30.4M
Stock-based compensation	6.2M	—	—	—	—	—	—	—	7.6M	-1.5M	11.1M	9.3M
Change in working capital	-51.2M	—	—	—	—	—	—	—	-121.1M	34.4M	44.4M	-74.6M
Operating cash flow	90.1M	—	—	—	—	—	—	—	49M	149.7M	160.6M	188.4M
Capital expenditure	0	—	—	—	—	—	—	—	-62.6M	-42.5M	-38.9M	-72.4M
Investing cash flow	0	—	—	—	—	—	—	—	-62.6M	-42.5M	-38.9M	-72.4M
Dividends paid	-6.7M	—	—	—	—	—	—	—	-8.7M	-8.6M	-9.6M	-9.3M
Share repurchases	-43.6M	—	—	—	—	—	—	—	0	-99.9M	-98.4M	-82.1M
Financing cash flow	-53.4M	-1.3M	-8.5M	-573K	-1.1M	-988K	-3.3M	-420K	-3.2M	-106.1M	-114.8M	-658.5M
Net change in cash	36.6M	-1.3M	-8.5M	-573K	-1.1M	-988K	-3.3M	-420K	-16.8M	1.1M	6.9M	-542.4M
Free cash flow	15.1M	—	—	—	—	—	—	—	-13.8M	107M	121.6M	115.9M

Academy Sports and Outdoors, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement