Academy Sports and Outdoors, Inc.

Retail-Miscellaneous Shopping Goods Stores

ASOSolid9 of 11 basics passed

$53.49

+1.38%

Market cap $3.29B

$53.49

+1.38%

Market cap $3.29B

Academy Sports and Outdoors Inc is engaged in the full-line sporting goods and outdoor recreation retailer in the United States. The company's product categories are outdoors, apparel, sports & recreation, and footwear.

It is a $3.29B consumer company. Revenue shrank 15.4% over the last year, it keeps 6¢ of every dollar of sales as profit, and its net debt equals ~2.0 years of free cash flow. It trades at 8.3× earnings — around the middle of its own history.

Website: academy.com
Location: Katy, TX
Employees: 23 000
Sector: Consumer Cyclical

Share price · 3 years

$45.48 → $53.49+17.6%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $13.7B
Profit: keeps 6¢ of every $1 sold; $811M
Free cash flow: cash left after running the business; $819M
Net debt: debt minus cash on hand; $1.67B
P/E: years of profit in the price; 8.3
EPS: earnings per share, TTM; $13.07
Dividend: pays out 9% of profit · 4% of FCF; 1.10%
Shares: down 24% since 2020 — buybacks; 62.0M
Volatility: beta vs the market — under 1 swings less; 0.98

Revenue, last 8 years

52-week range

Low $41.73$53.49High $61.19

Today's price is 60% of the way from the year's low to its high.

P/E vs its history5y

8.4×median 8.0×

Higher than 64% of past days — around the middle of its own history.

Valuation vs own history

P/E

8.4×

35%

P/S

0.5×

80%

EV/EBITDA

8.7×

P/B

1.5×

88%

FCF yield

10.0%

51%

Share of the last ~5 years that was pricier than today (in line with its own history). Based on the daily valuation record.

Earnings

Sep 9, 2026EPS $2.31 vs est $2.11beat +10%

Insider activity · 90 days

-$5.63Mnet selling

Purchases$0

Sales$5.63M

Insiders trading, last 14d0 buy · 0 sell

Standing in Consumer Cyclical

Size$3.29Btop 95%
Revenue growth-2%top 85%
Net margin6%top 53%
Return on equity18%top 57%
P/E8.3×top 2%
Dividend yield1.10%top 71%

Ranked against 99 Consumer Cyclical companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong valuation, quality and moat; Growth lags behind.

Valuation80

P/E vs own history64th pct · 5/25
FCF yield24.9% · 25/25
P/S0.5x · 25/25
EV/EBITDA4.9x · 25/25

Growth20

Revenue CAGR-1.4% · 0/25
Net income CAGR-12.0% · 0/25
EPS CAGR ~5Y-27.0% · 0/25
Fwd implied growth16.6% · 20/25

Profitability50

ROIC6.3% · 5/25
ROE18.4% · 20/25
Net margin5.9% · 13/25
Operating margin9.5% · 12/25

Health66

Altman Z2.03 · 18/25
Current ratio1.74 · 18/25
Interest coverage14.4x · 25/25
Net cash / debtD/A 30% · 5/25

Quality75

Piotroski F4/9 · 10/25
Beneish M-3.68 · 25/25
FCF conversion59% · 15/25
Margin stabilityσ 3.0% · 25/25

Moat76

ROIC >12% years7/8 yrs · 20/25
Median gross margin35.0% · 13/25
FCF-positive years8/8 yrs · 25/25
Worst-year net marginworst 5.4% · 18/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2021Financial
Revenue crossed $10B
$16.7B for the year
FY2021Financial
Best year on record
$1.75B net income
FY2020Financial
Profitable every year on record
8 consecutive profitable years in our data
FY2020Financial
Revenue already above $1B
$9.78B in first reported year
FY2020Financial
Positive free cash flow every year since
8-year streak

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$11 588 today — price return only

$4.5B revenue in FY2027

Profitable 8 years in a row

Positive free cash flow 8 years in a row

23 000 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Interest covered 14.4× by operating earnings

Watch-outs

Revenue shrinking 15.4% year over year
Net debt would take ~7.5 years of free cash flow to repay

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

9 of 11 checks passed

Revenue growing — the company sells more than a year ago-15.4% YoY
Profitable — makes more than it spends$811M TTM
Profit growing — earnings are higher than last year-9.6% YoY
Generates cash — cash left after running and investing$819M TTM
Debt under control — could handle its obligations~2.0y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$3.29B market cap
Not printing shares — share count not ballooning — you keep your slice-26.1% shares over ~5y
Proven track record — years of profitability behind it8/8 profitable years
Financially stable — balance sheet not near distressAltman Z 2.0 — grey
Pays a dividend — returns cash to shareholdersyield 1.10%
Valuation not extreme — price not wildly above earningsP/E 8.3

Peer comparisonAcademy Sports and Outdoors, Inc. vs 6 largest consumer cyclical peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
ASO this company	$3.3B	8.3	-15.4%	5.9%	Solid
AMZN Amazon.Com Inc	$2.8T	20.9	+15.8%	17.4%	Mixed
TSLA Tesla, Inc.	$1.5T	397.1	+11.8%	3.7%	Strong
NFLX NetFlix Inc	$292.8B	21.4	+16.0%	28.2%	Solid
HD Home Depot, Inc.	$290.4B	20.4	-16.0%	8.7%	Solid
DIS The Walt Disney Company	$186.5B	21.7	+4.6%	8.7%	Solid
MCD McDonald's Corporation	$166.9B	18.9	+6.3%	31.7%	Strained

Head-to-head: ASO vs AMZN · ASO vs TSLA · ASO vs NFLX

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 6Buy 6Hold 11

Appendix · Financial records

The full statements behind this CV, FY2020–FY2027. For readers who want to check the numbers.

Profit & lossRevenue $13.7B · net income $811M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2027 revenue flows to profit

RevenueNet income

Revenue (TTM)

$13.7B

YoY -15.4%

Net income (TTM)

$811M

Margin 5.9%

Gross margin

34.4%

Operating margin

9.5%

P/E ratio

8.3

Dividend yield

1.10%

Income statement — full detail

Figures in USD billions · EPS in USD

	2022	2023	2024	2025	2026	2027
Revenue	15.7	14.9	14.5	14.7	14.9	4.5
Gross profit	5.5	5.1	5.0	5.1	5.3	1.6
Operating income (EBIT)	2.2	1.6	1.4	1.2	1.2	0.4
Net income	1.6	1.2	1.0	0.8	0.9	0.2
EPS (diluted)	18.91	15.69	14.11	12.31	12.69	3.92

Cash flowFree cash flow $819M · operating cash flow $1.29B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$819M

Margin 6.0%

Operating cash flow (TTM)

$1.29B

FCF margin

3.7%

Cash flow statement — full detail

Figures in USD billions

	2022	2023	2024	2025	2026	2027
Operating cash flow	1.2	1.1	1.4	1.1	1.2	0.5
Capital expenditure	-0.3	-0.5	-0.5	-0.5	-0.5	-0.2
Free cash flow	1.0	0.6	0.9	0.6	0.7	0.4
FCF margin	6.2%	4.2%	6.1%	3.9%	4.7%	7.9%

Balance sheetAssets $5.51B · net debt $1.67B (FY2027)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $5.51B of assets is financed

60%

40%

Liabilities $3.33B — borrowed moneyEquity $2.18B — owners' stake

Cash vs debt

Total debt $1.97B − cash $298M = net debt $1.67B

Cash on hand covers 15% of debt.

Altman Z-Score

2.03

Grey zone

Debt repayment

7.5 yrs

Years of free cash flow to clear net debt

Interest coverage

14.4x

EBIT ÷ interest expense

ROE

18.4%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2022	2023	2024	2025	2026	2027
Cash & equivalents	0.3	0.3	0.3	0.3	0.3	0.3
Total assets	4.6	4.7	4.9	5.3	5.3	5.5
Total liabilities	3.0	2.7	2.9	3.1	3.1	3.3
Total debt	0.6	0.5	0.5	0.5	1.9	2.0
Equity	1.6	2.0	2.0	2.2	2.2	2.2
Net debt	0.2	0.1	0.2	0.2	1.6	1.7

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Deeper analysis of ASO on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $53.49 · market cap $3.29B.