Academy Sports Outdoors (ASO) financial statements
Academy Sports Outdoors reported revenue of $6.1B in fiscal 2026, up 3.4% a year over 7 years.
Net income was $377M and the operating margin 8.5%, against 2.7% in 2019.
Free cash flow was $222M, and the company returned $35M in dividends and $199M in net buybacks.
The diluted share count fell 10% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Academy Sports Outdoors's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.8B | $4.8B | $5.7B | $6.8B | $6.4B | $6.2B | $5.9B | $6.1B |
| Cost of revenue | $3.4B | $3.4B | $4.0B | $4.4B | $4.2B | $4.0B | $3.9B | $3.9B |
| Gross profit | $1.4B | $1.4B | $1.7B | $2.4B | $2.2B | $2.1B | $2.0B | $2.1B |
| Selling, general and admin | $1.2B | $1.3B | $1.3B | $1.4B | $1.4B | $1.4B | $1.5B | $1.6B |
| Operating income | $129M | $179M | $420M | $908M | $847M | $678M | $539M | $512M |
| Pre-tax income | $23M | $123M | $339M | $860M | $818M | $663M | $538M | $486M |
| Income tax | $2M | $3M | $30M | $188M | $190M | $144M | $120M | $109M |
| Net income | $21M | $120M | $309M | $671M | $628M | $519M | $418M | $377M |
| EPS (diluted) | $0.29 | $1.60 | $3.79 | $7.12 | $7.49 | $6.70 | $5.73 | $5.54 |
| Diluted shares | 75M | 75M | 81M | 94M | 84M | 77M | 73M | 68M |
| Gross margin | 28.6% | 29.6% | 30.5% | 34.7% | 34.6% | 34.3% | 33.9% | 34.8% |
| Operating margin | 2.7% | 3.7% | 7.4% | 13.4% | 13.2% | 11.0% | 9.1% | 8.5% |
| Net margin | 0.4% | 2.5% | 5.4% | 9.9% | 9.8% | 8.4% | 7.1% | 6.2% |
Balance sheet
Fiscal years, from Academy Sports Outdoors's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $76M | $149M | $378M | $486M | $337M | $348M | $289M | $330M |
| Receivables | — | $14M | $17M | $20M | $17M | $19M | $17M | $35M |
| Inventory | — | $1.1B | $990M | $1.2B | $1.3B | $1.2B | $1.3B | $1.5B |
| Total current assets | — | $1.3B | $1.4B | $1.7B | $1.7B | $1.6B | $1.7B | $2.0B |
| Property, plant and equipment | — | $441M | $378M | $346M | $351M | $445M | $525M | $584M |
| Goodwill | — | $862M | $862M | $862M | $862M | $862M | $862M | $862M |
| Total assets | — | $4.3B | $4.4B | $4.6B | $4.6B | $4.7B | $4.9B | $5.3B |
| Total current liabilities | — | $751M | $1.2B | $1.1B | $1.0B | $880M | $961M | $1.0B |
| Long-term debt | — | $1.4B | $781M | $684M | $584M | $485M | $483M | $481M |
| Total liabilities | — | $3.3B | $3.3B | $3.1B | $3.0B | $2.7B | $2.9B | $3.1B |
| Shareholders' equity | — | — | $1.1B | $1.5B | $1.6B | $2.0B | $2.0B | $2.2B |
| Net debt | -$76M | $1.3B | $408M | $201M | $250M | $140M | $197M | $153M |
Cash flow
Fiscal years, from Academy Sports Outdoors's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $198M | $264M | $1.0B | $673M | $552M | $536M | $528M | $435M |
| Capital spending | $108M | $63M | $41M | $76M | $108M | $208M | $200M | $213M |
| Free cash flow | $91M | $201M | $970M | $597M | $444M | $328M | $328M | $222M |
| Stock-based compensation | $5M | $8M | $32M | $39M | $21M | $24M | $27M | $21M |
| Dividends paid | — | — | $0 | $0 | $25M | $27M | $31M | $35M |
| Share buybacks (net) | — | $0 | $0 | -$411M | -$489M | -$203M | -$365M | -$199M |
| Free cash flow margin | 1.9% | 4.2% | 17.1% | 8.8% | 6.9% | 5.3% | 5.5% | 3.7% |
| Dividends per share | — | — | — | — | $0.29 | $0.35 | $0.43 | $0.51 |
Questions
What was Academy Sports Outdoors's revenue in 2026?
$6.1B in fiscal 2026, from its 10-K filing.
How much free cash flow does Academy Sports Outdoors generate?
$222M in fiscal 2026 (operating cash flow minus capital spending).
From Academy Sports Outdoors's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.