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Academy Sports & Outdoors, Inc. key statistics and ratios

In fiscal 2026, Academy Sports & Outdoors, Inc. had return on equity of 18.0% and a net margin of 6.2%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2019Feb 20192020Feb 20202021Jan 20212022Jan 20222023Jan 20232024Feb 20242025Feb 20252026Jan 2026LTMAug 2026
Net margin0.4%2.5%5.4%9.9%9.8%8.4%7.1%6.2%6.4%
Return on equity——27.8%52.1%40.6%29.0%21.1%18.0%18.2%
Return on assets—2.8%7.1%15.0%13.7%11.2%8.7%7.4%7.3%
Effective tax rate8.3%2.3%9.0%21.9%23.3%21.7%22.3%22.5%21.7%
SG&A as % of revenue25.9%25.9%23.1%21.3%21.4%23.3%24.8%26.3%26.2%
Dividends ÷ net income——0.0%0.0%3.9%5.2%7.5%9.2%9.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 6 checks passed · August 1, 2026
What it owns · $5.5bn
Short-term assets $2.1bnLonger-term assets $3.4bn
What it owes, and who funded it · $5.5bn
Short-term liabilities $1.2bnLonger-term liabilities $2.1bnShareholders' equity $2.2bn
  • Short-term assets cover short-term liabilities $2.1bn of assets due within a year against $1.2bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.1bn short-term assets against $2.1bn of longer-dated liabilities.
  • More cash than debt $298m of cash against $494m of debt.
  • Debt below 40% of shareholders' equity Debt is 23% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 47% to 23% over five years.
  • A year's operating cash flow covers at least 20% of debt $548m of operating cash flow against $494m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Academy Sports & Outdoors, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

66 /100

Moderate moat

How hard Academy Sports & Outdoors's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 16 / 20

    Cash operating profit has been a median 12.2% of total assets over 6 years.

  • Pricing power 12 / 20

    Gross margin has been a median 34.2%, moving by 2.0 percentage points (standard deviation) across 7 years.

  • Durability 10 / 20

    Operating margin has been a median 10.4%; its worst year was 5.6%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 6 of 6 years, at a median 6.3% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 27.7% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (71 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: ASO vs WOOFASO vs BBWIASO vs FIVE

More: Other Specialty Retail stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Academy Sports & Outdoors, Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Academy Sports & Outdoors, Inc.