ASO · NasdaqGS
Specialty Retail · United States
Snapshot 2026-09-20 · Latest financial period 2026-08-01 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2026-12-08 (provider estimate, not issuer-confirmed).
Academy Sports and Outdoors, Inc., through its subsidiaries, operates as a sporting goods and outdoor recreational retailer in the United States. The company's outdoors division comprises camping products, such as coolers and drinkware, camping accessories and equipment, and watersports and equipment; fishing products, including marine equipment and fishing rods, reels, and baits and equipment; and hunting products, which includes firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, gun safes, optics, airguns, and hunting equipment. Its sports and recreation division offers fitness equipment, fitness accessories, and nutrition supplies; team and specialty sports equipment, including baseball, football, basketball, soccer, golf, racket sports, volleyball, backpacks, and sports bags; recreation products, which includes patio furniture, outdoor cooking, trampolines, and play sets, as well as wheeled goods that include bicycles, skateboards, and other ride-on toys; and electronics, watches, and sunglasses, as well as front-end products, such as consumables, batteries, etc. The company's apparel division provides outdoor and seasonal apparel, denim, work apparel, graphic t-shirts, accessories, and outerwear; boys and girls outdoor, and athletic apparel and swimwear; sporting and fitness apparel; and professional and collegiate team licensed apparel and accessories. Its footwear division offers casual shoes, slippers, seasonal footwear, and socks; work and western boots, shoes, and hunting footwear; boys and girls footwear; athletic footwear, such as running shoes, athletic lifestyle, and training shoes; and team and specialty sports footwear, and slides. The company sells its products under the Academy Sports + Outdoors, Magellan Outdoors, BCG, O'rageous, Game Winner, Outdoor Gourmet, Freely, R.O.W., Redfield, and H2OX brand names. Academy Sports and Outdoors, Inc. was founded in 1938 and is headquartered in Katy, Texas.
Company websiteQ2 FY2026
Published 2026-09-09
Short takes Q2 FY2026
ASO Stock: Where Did the Tariff Cash Go? — Q2 FY2026
Watch Short on YouTube
Q2 FY2026 REPORT HIGHLIGHTS
ASO Q2 FY2026: verified profit and share-count bridges, tariff refund accounting, cash conversion, three valuation routes and dated signposts.
Total sales increased 3.0% while comps slipped 0.4%. The store base reached 327 and online sales grew 12.8%. Subtracting comp from total growth is not an exact new-store revenue bridge because the populations and denominators differ.
Net income grew 9.94%; diluted shares fell 6.11%. On an old-share-count-first bridge, higher profit adds about $0.18 per share and the lower denominator adds about $0.13. Neither effect should be mistaken for the other.
The $0.06 net EPS benefit remains in reported and adjusted performance. The actual adjusted-income bridge adds equity compensation and a debt-retirement loss, then deducts their tax effects.
H1 operating cash includes tariff refunds, while $72.2M of tariff-claim remittances sits in financing. Reported adjusted FCF is $237.6M; subtracting that financing outflow gives a $165.3M cash illustration, not a measure of recurring FCF.
At our approximately $49.99 snapshot, the $50 central value offers almost no upside. The $33/$53/$68 scenarios have a $50 weighted value. A profitable retailer can still be an unattractive fresh purchase when uncertainty is high and the cushion is thin.
Comparable businesses
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
No suitable peers with fresh, comparable size data are available. We have not substituted unrelated companies.
| Metric | ASOAcademy Sports and Outdoors, Inc.Snapshot 2026-09-20Financial period: 2026-08-01 |
|---|---|
| Market capMarket value, converted to USD | US$2.97B |
| Forward P/EProvider forward earnings estimate | 6.83x |
| EV / EBITDAEnterprise value / trailing EBITDA | 6.64x |
| Revenue growthLatest quarter vs prior-year quarter | 3.0% |
| Operating marginLatest reported quarter | 15.0% |
| Free cash flow yieldTrailing cash flow / market cap | 5.7% |
| Net debt / EBITDANet debt / trailing EBITDA | 2.39x |
| Debt / equityTotal debt / positive book equity | 0.90x |
| Trailing P/ETrailing twelve-month earnings | 8.10x |
| Price / bookPrice / positive book equity per share | 1.38x |
| EV / salesEnterprise value / trailing revenue | 0.75x |
| Earnings growthLatest quarter vs prior-year quarter | 17.3% |
| Gross marginTrailing twelve months | 35.8% |
| Net marginTrailing twelve months | 6.4% |
| Return on equityProvider trailing return; positive equity only | 18.6% |
| Free cash flow marginTrailing free cash flow / revenue | 2.7% |
| Dividend yieldIndicated annual dividend / price | 1.2% |
| Earnings payoutProvider trailing dividend payout | 9.4% |
| Current ratioCurrent assets / current liabilities | 1.74x |
| BetaProvider historical market sensitivity | 1.02 |
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
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Source: . Window ends at the latest available reporting period.
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Price history loads separately.
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-09-20. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
FREE RESEARCH PACKET · Q2 FY2026
ASO Q2 FY2026: verified profit and share-count bridges, tariff refund accounting, cash conversion, three valuation routes and dated signposts.
Research published September 9, 2026 · Download original report
Read Research PacketStudio edition · 2026-09-09 · YouTube
Presentation · 2026-09-09 · YouTube
Short takes Q2 FY2026
ASO Stock: Where Did the Tariff Cash Go? — Q2 FY2026
Watch Short on YouTube
Presentation · 2026-06-09 · YouTube
Verify material figures against company filings. Market data and AI-assisted analysis may contain errors.
