ASO Academy Sports & Outdoors, Inc.

Overview and Growth

Academy Sports & Outdoors, Inc. generated $6.05B of revenue in fiscal 2025, with net income of $376.77M and an operating cash inflow of $434.80M. At $6.05B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $5.93B in fiscal 2024, revenue recorded a 2.0% year-over-year increase. On a per-share basis, diluted EPS was $5.54, which connects the reported earnings outcome with the company’s diluted share count. Against diluted EPS of $5.73 in fiscal 2024, the current result was 3.3% lower.

Profitability

The first profit layer was $2.11B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 34.8%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operating income was $512.18M, the earnings remaining from reported operations after the company’s recognized operating cost structure. The operating result equaled 8.5% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all reported below-operating-line items, the company recorded net income of $376.77M for the fiscal year. The final earnings result represented 6.2% of revenue, connecting the absolute net income figure with the company’s top-line scale. The earnings statement records $486.06M of pretax income, the profit base against which the reported tax provision can be assessed. The pretax margin was 8.0%, relating income before taxes directly to revenue. The reported income-tax provision was $109.29M, the amount recognized between pretax income and the final net-income result. The income-tax provision equaled 22.5% of pretax income, showing the tax burden absorbed by the year’s earnings.

Liquidity and Capital Structure

The company held $5.28B of assets against $3.11B of liabilities and $2.17B of equity, revealing how the asset base was financed. The near-term balance sheet paired $1.95B of current assets with $1.03B of current liabilities at the reporting date. Current assets covered current liabilities by 1.89x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $330.32M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 32.0% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The company carried $483.79M of total debt at period end, which frames its leverage and debt-service burden. Debt equaled 0.22x of book equity, describing the relative scale of borrowing and shareholder capital. Relative to total assets, debt measured 9.2%, showing how much of the asset base was matched by borrowing. Relative to total assets, liabilities measured 58.9%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 6.3% of total assets, showing the liquid cash component within the company’s broader resource base.

Cash Flow and Earnings Quality

Cash flow from operations was $434.80M, a reported cash inflow that can be compared directly with net income and capital spending. Operating cash flow equaled 1.15x of net income, showing how strongly accounting earnings converted into cash from operations. Capital expenditures used $212.67M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 48.9%, connecting investment intensity with the company’s cash-generation base. After capital spending, free cash flow was $222.13M, leaving cash available for debt reduction, shareholder returns, or further investment. Relative to revenue, free cash flow equaled 3.7%, showing how much sales converted into cash after investment. Free cash flow equaled 4.2% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Jan 31, 2026. Analysis generated Oct 21, 2026.