Academy Sports & Outdoors, Inc. Financials
This page shows Academy Sports & Outdoors, Inc. (ASO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Academy Sports & Outdoors, Inc. has an operating margin of 9.1%, meaning the company retains $9 of operating profit per $100 of revenue. This results in a moderate score of 45/100, indicating healthy but not exceptional operating efficiency. This is down from 11.0% the prior year.
Academy Sports & Outdoors, Inc.'s revenue declined 3.7% year-over-year, from $6.2B to $5.9B. This contraction results in a growth score of 18/100.
Academy Sports & Outdoors, Inc. carries a low D/E ratio of 0.25, meaning only $0.25 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Academy Sports & Outdoors, Inc.'s current ratio of 1.52 indicates adequate short-term liquidity, earning a score of 41/100. The company can meet its near-term obligations, though with limited headroom.
Academy Sports & Outdoors, Inc.'s free cash flow margin of 5.5% results in a low score of 28/100. Capital expenditures of $199.6M absorb a large share of operating cash flow.
Academy Sports & Outdoors, Inc. earns a strong 21.5% return on equity (ROE), meaning it generates $21 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 86/100. This is down from 27.3% the prior year.
Academy Sports & Outdoors, Inc. scores 2.83, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Academy Sports & Outdoors, Inc. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Academy Sports & Outdoors, Inc. generates $1.26 in operating cash flow ($528.1M OCF vs $418.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Academy Sports & Outdoors, Inc. earns $14.6 in operating income for every $1 of interest expense ($538.6M vs $36.9M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Academy Sports & Outdoors, Inc. generated $5.9B in revenue in fiscal year 2025. This represents a decrease of 3.7% from the prior year.
Academy Sports & Outdoors, Inc.'s EBITDA was $656.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 16.7% from the prior year.
Academy Sports & Outdoors, Inc. generated $328.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 0.1% from the prior year.
Academy Sports & Outdoors, Inc. reported $418.4M in net income in fiscal year 2025. This represents a decrease of 19.4% from the prior year.
Academy Sports & Outdoors, Inc. earned $5.73 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 14.5% from the prior year.
Academy Sports & Outdoors, Inc. held $285.1M in cash against $482.2M in long-term debt as of fiscal year 2025.
Academy Sports & Outdoors, Inc. paid $0.11 per share in dividends in fiscal year 2025. This represents an increase of 22.2% from the prior year.
Academy Sports & Outdoors, Inc. had 67M shares outstanding in fiscal year 2025. This represents a decrease of 9.9% from the prior year.
Academy Sports & Outdoors, Inc.'s gross margin was 33.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.4 percentage points from the prior year.
Academy Sports & Outdoors, Inc.'s operating margin was 9.1% in fiscal year 2025, reflecting core business profitability. This is down 1.9 percentage points from the prior year.
Academy Sports & Outdoors, Inc.'s net profit margin was 7.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.4 percentage points from the prior year.
Academy Sports & Outdoors, Inc.'s ROE was 21.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.8 percentage points from the prior year.
Academy Sports & Outdoors, Inc. spent $364.9M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 79.9% from the prior year.
Academy Sports & Outdoors, Inc. invested $199.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 3.9% from the prior year.
ASO Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.4B-13.5% | $1.6B+18.4% | $1.4B-19.4% | $1.7B+20.0% | $1.4B-11.7% | $1.6B+14.4% | $1.4B-20.8% | $1.7B |
| Cost of Revenue | $890.3M-13.0% | $1.0B+14.6% | $892.5M-21.5% | $1.1B+24.2% | $915.1M-10.2% | $1.0B+11.3% | $916.5M-21.9% | $1.2B |
| Gross Profit | $493.4M-14.4% | $576.7M+25.7% | $458.9M-15.1% | $540.2M+11.9% | $482.6M-14.3% | $563.4M+20.6% | $467.1M-18.4% | $572.5M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $393.0M-2.8% | $404.4M+3.8% | $389.6M+1.1% | $385.5M+11.5% | $345.9M-1.9% | $352.5M+3.4% | $340.9M-7.3% | $367.7M |
| Operating Income | $100.4M-41.8% | $172.4M+148.9% | $69.3M-55.2% | $154.7M+13.1% | $136.7M-35.2% | $211.0M+67.2% | $126.2M-38.4% | $204.8M |
| Interest Expense | -$9.0M+0.5% | -$9.0M+0.2% | -$9.0M+1.3% | -$9.2M+16.1% | -$10.9M+3.4% | -$11.3M-0.7% | -$11.2M+8.0% | -$12.2M |
| Income Tax | $22.5M-43.0% | $39.4M+132.5% | $16.9M-46.5% | $31.7M+5.7% | $30.0M-35.1% | $46.2M+87.0% | $24.7M-49.0% | $48.5M |
| Net Income | $71.6M-42.9% | $125.4M+172.2% | $46.1M-65.5% | $133.6M+33.7% | $100.0M-36.4% | $157.1M+67.2% | $94.0M-40.4% | $157.7M |
| EPS (Diluted) | $1.05-43.2% | $1.85+172.1% | $0.68-64.0% | $1.89+44.3% | $1.31-34.8% | $2.01+68.9% | $1.19-39.6% | $1.97 |
ASO Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.4B+2.6% | $5.3B+1.8% | $5.2B+5.7% | $4.9B-0.4% | $4.9B+5.3% | $4.7B+0.7% | $4.6B+1.0% | $4.6B |
| Current Assets | $2.1B+5.4% | $2.0B+3.3% | $1.9B+12.4% | $1.7B-9.8% | $1.9B+10.5% | $1.7B-0.8% | $1.7B+2.5% | $1.7B |
| Cash & Equivalents | $289.5M-3.8% | $300.9M+5.5% | $285.1M-1.3% | $288.9M+5.1% | $274.8M-11.7% | $311.3M+5.3% | $295.5M-12.3% | $337.1M |
| Inventory | $1.7B+7.2% | $1.6B+1.8% | $1.6B+19.2% | $1.3B-12.3% | $1.5B+14.0% | $1.3B-5.6% | $1.4B+8.0% | $1.3B |
| Accounts Receivable | $17.5M-8.7% | $19.2M+13.7% | $16.9M+0.7% | $16.8M-5.3% | $17.7M+21.1% | $14.6M+40.5% | $10.4M-36.9% | $16.5M |
| Goodwill | $861.9M0.0% | $861.9M0.0% | $861.9M0.0% | $861.9M0.0% | $861.9M0.0% | $861.9M0.0% | $861.9M0.0% | $861.9M |
| Total Liabilities | $3.3B+2.1% | $3.2B-1.0% | $3.2B+11.6% | $2.9B-7.4% | $3.1B+6.5% | $2.9B-0.8% | $3.0B-0.2% | $3.0B |
| Current Liabilities | $1.2B+1.2% | $1.2B-4.0% | $1.3B+31.4% | $960.9M-18.1% | $1.2B+15.0% | $1.0B-2.8% | $1.0B+1.0% | $1.0B |
| Long-Term Debt | $481.3M-0.1% | $481.7M-0.1% | $482.2M-0.1% | $482.7M-17.3% | $583.4M-0.1% | $583.7M-0.1% | $584.1M-0.1% | $584.5M |
| Total Equity | $2.1B+3.4% | $2.1B+6.6% | $1.9B-2.8% | $2.0B+11.8% | $1.8B+3.2% | $1.7B+3.4% | $1.7B+3.2% | $1.6B |
| Retained Earnings | $1.9B+3.5% | $1.8B+6.9% | $1.7B-3.1% | $1.8B+13.1% | $1.6B+3.5% | $1.5B+3.4% | $1.5B+2.8% | $1.4B |
ASO Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $49.0M-37.6% | $78.6M-50.1% | $157.5M+12.3% | $140.2M+143.9% | $57.5M-70.0% | $191.4M+267.2% | $52.1M-78.5% | $242.8M |
| Capital Expenditures | $62.6M+10.3% | $56.7M+11.6% | $50.8M-20.2% | $63.7M+51.0% | $42.2M-39.1% | $69.3M+71.3% | $40.5M+40.3% | $28.9M |
| Free Cash Flow | -$13.6M-162.1% | $21.8M-79.5% | $106.6M+39.5% | $76.4M+400.6% | $15.3M-87.5% | $122.1M+946.5% | $11.7M-94.5% | $214.0M |
| Investing Cash Flow | -$58.1M-2.1% | -$56.9M-11.6% | -$51.0M-2.6% | -$49.7M-17.3% | -$42.3M+37.1% | -$67.3M-66.0% | -$40.5M-39.8% | -$29.0M |
| Financing Cash Flow | -$2.3M+61.7% | -$5.9M+94.6% | -$110.3M-13.1% | -$97.6M-88.9% | -$51.6M+52.3% | -$108.3M-103.6% | -$53.2M+72.7% | -$194.9M |
| Dividends Paid | $8.7M+0.2% | $8.6M-0.8% | $8.7M+14.4% | $7.6M+13.4% | $6.7M-2.6% | $6.9M-0.5% | $6.9M+18.4% | $5.9M |
| Share Buybacks | $0 | $0-100.0% | $99.0M+8.7% | $91.1M+108.9% | $43.6M-59.0% | $106.4M+112.8% | $50.0M-50.0% | $100.0M |
ASO Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.7%-0.4pp | 36.0%+2.1pp | 34.0%+1.7pp | 32.2%-2.3pp | 34.5%-1.1pp | 35.6%+1.8pp | 33.8%+1.0pp | 32.8% |
| Operating Margin | 7.3%-3.5pp | 10.8%+5.6pp | 5.1%-4.1pp | 9.2%-0.6pp | 9.8%-3.6pp | 13.3%+4.2pp | 9.1%-2.6pp | 11.7% |
| Net Margin | 5.2%-2.7pp | 7.8%+4.4pp | 3.4%-4.6pp | 8.0%+0.8pp | 7.1%-2.8pp | 9.9%+3.1pp | 6.8%-2.2pp | 9.0% |
| Return on Equity | 3.3%-2.7pp | 6.0%+3.7pp | 2.4%-4.3pp | 6.7%+1.1pp | 5.6%-3.5pp | 9.0%+3.4pp | 5.6%-4.1pp | 9.7% |
| Return on Assets | 1.3%-1.1pp | 2.4%+1.5pp | 0.9%-1.8pp | 2.7%+0.7pp | 2.0%-1.3pp | 3.4%+1.3pp | 2.0%-1.4pp | 3.4% |
| Current Ratio | 1.71+0.1 | 1.64+0.1 | 1.52-0.3 | 1.78+0.2 | 1.62-0.1 | 1.68+0.0 | 1.65+0.0 | 1.62 |
| Debt-to-Equity | 0.220.0 | 0.23-0.0 | 0.250.0 | 0.24-0.1 | 0.33-0.0 | 0.34-0.0 | 0.35-0.0 | 0.36 |
| FCF Margin | -1.0%-2.3pp | 1.4%-6.5pp | 7.9%+3.3pp | 4.6%+3.5pp | 1.1%-6.6pp | 7.7%+6.9pp | 0.8%-11.4pp | 12.3% |
Similar Companies
Frequently Asked Questions
What is Academy Sports & Outdoors, Inc.'s annual revenue?
Academy Sports & Outdoors, Inc. (ASO) reported $5.9B in total revenue for fiscal year 2025. This represents a -3.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Academy Sports & Outdoors, Inc.'s revenue growing?
Academy Sports & Outdoors, Inc. (ASO) revenue declined by 3.7% year-over-year, from $6.2B to $5.9B in fiscal year 2025.
Is Academy Sports & Outdoors, Inc. profitable?
Yes, Academy Sports & Outdoors, Inc. (ASO) reported a net income of $418.4M in fiscal year 2025, with a net profit margin of 7.0%.
What is Academy Sports & Outdoors, Inc.'s earnings per share (EPS)?
Academy Sports & Outdoors, Inc. (ASO) reported diluted earnings per share of $5.73 for fiscal year 2025. This represents a -14.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Academy Sports & Outdoors, Inc.'s EBITDA?
Academy Sports & Outdoors, Inc. (ASO) had EBITDA of $656.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Academy Sports & Outdoors, Inc. have?
As of fiscal year 2025, Academy Sports & Outdoors, Inc. (ASO) had $285.1M in cash and equivalents against $482.2M in long-term debt.
What is Academy Sports & Outdoors, Inc.'s gross margin?
Academy Sports & Outdoors, Inc. (ASO) had a gross margin of 33.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Academy Sports & Outdoors, Inc.'s operating margin?
Academy Sports & Outdoors, Inc. (ASO) had an operating margin of 9.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Academy Sports & Outdoors, Inc.'s net profit margin?
Academy Sports & Outdoors, Inc. (ASO) had a net profit margin of 7.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Academy Sports & Outdoors, Inc. pay dividends?
Yes, Academy Sports & Outdoors, Inc. (ASO) paid $0.11 per share in dividends during fiscal year 2025.
What is Academy Sports & Outdoors, Inc.'s return on equity (ROE)?
Academy Sports & Outdoors, Inc. (ASO) has a return on equity of 21.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Academy Sports & Outdoors, Inc.'s free cash flow?
Academy Sports & Outdoors, Inc. (ASO) generated $328.5M in free cash flow during fiscal year 2025. This represents a 0.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Academy Sports & Outdoors, Inc.'s operating cash flow?
Academy Sports & Outdoors, Inc. (ASO) generated $528.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Academy Sports & Outdoors, Inc.'s total assets?
Academy Sports & Outdoors, Inc. (ASO) had $5.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Academy Sports & Outdoors, Inc.'s capital expenditures?
Academy Sports & Outdoors, Inc. (ASO) invested $199.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does Academy Sports & Outdoors, Inc. buy back shares?
Yes, Academy Sports & Outdoors, Inc. (ASO) spent $364.9M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Academy Sports & Outdoors, Inc. have outstanding?
Academy Sports & Outdoors, Inc. (ASO) had 67M shares outstanding as of fiscal year 2025.
What is Academy Sports & Outdoors, Inc.'s current ratio?
Academy Sports & Outdoors, Inc. (ASO) had a current ratio of 1.52 as of fiscal year 2025, which is generally considered healthy.
What is Academy Sports & Outdoors, Inc.'s debt-to-equity ratio?
Academy Sports & Outdoors, Inc. (ASO) had a debt-to-equity ratio of 0.25 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Academy Sports & Outdoors, Inc.'s return on assets (ROA)?
Academy Sports & Outdoors, Inc. (ASO) had a return on assets of 8.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Academy Sports & Outdoors, Inc.'s Altman Z-Score?
Academy Sports & Outdoors, Inc. (ASO) has an Altman Z-Score of 2.83, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Academy Sports & Outdoors, Inc.'s Piotroski F-Score?
Academy Sports & Outdoors, Inc. (ASO) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Academy Sports & Outdoors, Inc.'s earnings high quality?
Academy Sports & Outdoors, Inc. (ASO) has an earnings quality ratio of 1.26x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Academy Sports & Outdoors, Inc. cover its interest payments?
Academy Sports & Outdoors, Inc. (ASO) has an interest coverage ratio of 14.6x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Academy Sports & Outdoors, Inc.?
Academy Sports & Outdoors, Inc. (ASO) scores 53 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.