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Side-by-side financial comparison of AMERICAN FINANCIAL GROUP INC (AFG) and Academy Sports & Outdoors, Inc. (ASO). Click either name above to swap in a different company.
AMERICAN FINANCIAL GROUP INC is the larger business by last-quarter revenue ($2.1B vs $1.4B, roughly 1.5× Academy Sports & Outdoors, Inc.). AMERICAN FINANCIAL GROUP INC runs the higher net margin — 14.5% vs 5.2%, a 9.3% gap on every dollar of revenue. On growth, Academy Sports & Outdoors, Inc. posted the faster year-over-year revenue change (3.0% vs -4.0%). Over the past eight quarters, AMERICAN FINANCIAL GROUP INC's revenue compounded faster (4.0% CAGR vs -12.2%).
The Western Union Company is an American multinational financial services corporation headquartered in Denver, Colorado.
Academy Sports + Outdoors is an American sporting-goods store chain with corporate offices in the Katy Distribution Center in unincorporated western Harris County, Texas, United States, near Katy and west of Houston. For 74 years, it was a privately held company owned by the Gochman family, until its May 2011 acquisition by Kohlberg Kravis Roberts. In October 2020, it was listed on NASDAQ.
AFG vs ASO — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.4B |
| Net Profit | $299.0M | $71.6M |
| Gross Margin | — | 35.7% |
| Operating Margin | 18.4% | 7.3% |
| Net Margin | 14.5% | 5.2% |
| Revenue YoY | -4.0% | 3.0% |
| Net Profit YoY | 17.3% | 8.8% |
| EPS (diluted) | $3.59 | $1.05 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.1B | $1.4B | ||
| Q3 25 | $2.3B | $1.6B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | $1.9B | $1.7B | ||
| Q4 24 | $2.1B | $1.3B | ||
| Q3 24 | $2.4B | $1.5B | ||
| Q2 24 | $1.9B | $1.4B | ||
| Q1 24 | $1.9B | $1.8B |
| Q4 25 | $299.0M | $71.6M | ||
| Q3 25 | $215.0M | $125.4M | ||
| Q2 25 | $174.0M | $46.1M | ||
| Q1 25 | $154.0M | $133.6M | ||
| Q4 24 | $255.0M | $65.8M | ||
| Q3 24 | $181.0M | $142.6M | ||
| Q2 24 | $209.0M | $76.5M | ||
| Q1 24 | $242.0M | $168.2M |
| Q4 25 | — | 35.7% | ||
| Q3 25 | — | 36.0% | ||
| Q2 25 | — | 34.0% | ||
| Q1 25 | — | 32.2% | ||
| Q4 24 | — | 34.0% | ||
| Q3 24 | — | 36.1% | ||
| Q2 24 | — | 33.4% | ||
| Q1 24 | — | 33.3% |
| Q4 25 | 18.4% | 7.3% | ||
| Q3 25 | 11.5% | 10.8% | ||
| Q2 25 | 11.9% | 5.1% | ||
| Q1 25 | 10.6% | 9.2% | ||
| Q4 24 | 14.9% | 6.8% | ||
| Q3 24 | 9.7% | 12.3% | ||
| Q2 24 | 14.3% | 7.5% | ||
| Q1 24 | 15.9% | 11.4% |
| Q4 25 | 14.5% | 5.2% | ||
| Q3 25 | 9.2% | 7.8% | ||
| Q2 25 | 9.0% | 3.4% | ||
| Q1 25 | 8.3% | 8.0% | ||
| Q4 24 | 11.9% | 4.9% | ||
| Q3 24 | 7.6% | 9.2% | ||
| Q2 24 | 11.0% | 5.6% | ||
| Q1 24 | 12.7% | 9.4% |
| Q4 25 | $3.59 | $1.05 | ||
| Q3 25 | $2.58 | $1.85 | ||
| Q2 25 | $2.07 | $0.68 | ||
| Q1 25 | $1.84 | $1.85 | ||
| Q4 24 | $3.03 | $0.92 | ||
| Q3 24 | $2.16 | $1.95 | ||
| Q2 24 | $2.49 | $1.01 | ||
| Q1 24 | $2.89 | $2.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.7B | $289.5M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $4.8B | $2.1B |
| Total Assets | $32.6B | $5.4B |
| Debt / EquityLower = less leverage | 0.38× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $289.5M | ||
| Q3 25 | $1.8B | $300.9M | ||
| Q2 25 | $1.3B | $285.1M | ||
| Q1 25 | $1.3B | $288.9M | ||
| Q4 24 | $1.4B | $296.0M | ||
| Q3 24 | $1.3B | $324.6M | ||
| Q2 24 | $1.1B | $378.1M | ||
| Q1 24 | $1.1B | $347.9M |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | $4.8B | $2.1B | ||
| Q3 25 | $4.7B | $2.1B | ||
| Q2 25 | $4.5B | $1.9B | ||
| Q1 25 | $4.4B | $2.0B | ||
| Q4 24 | $4.5B | $2.0B | ||
| Q3 24 | $4.7B | $2.0B | ||
| Q2 24 | $4.4B | $1.9B | ||
| Q1 24 | $4.2B | $2.0B |
| Q4 25 | $32.6B | $5.4B | ||
| Q3 25 | $33.8B | $5.3B | ||
| Q2 25 | $30.7B | $5.2B | ||
| Q1 25 | $30.3B | $4.9B | ||
| Q4 24 | $30.8B | $5.1B | ||
| Q3 24 | $32.6B | $4.9B | ||
| Q2 24 | $29.9B | $4.9B | ||
| Q1 24 | $30.0B | $4.7B |
| Q4 25 | 0.38× | — | ||
| Q3 25 | 0.38× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 0.33× | — | ||
| Q3 24 | 0.31× | — | ||
| Q2 24 | 0.34× | — | ||
| Q1 24 | 0.35× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $784.0M | $49.0M |
| Free Cash FlowOCF − Capex | — | $-13.6M |
| FCF MarginFCF / Revenue | — | -1.0% |
| Capex IntensityCapex / Revenue | — | 4.5% |
| Cash ConversionOCF / Net Profit | 2.62× | 0.68× |
| TTM Free Cash FlowTrailing 4 quarters | — | $191.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $784.0M | $49.0M | ||
| Q3 25 | $216.0M | $78.6M | ||
| Q2 25 | $191.0M | $157.5M | ||
| Q1 25 | $342.0M | $140.2M | ||
| Q4 24 | $674.0M | $96.9M | ||
| Q3 24 | $459.0M | $91.3M | ||
| Q2 24 | $-88.0M | $199.7M | ||
| Q1 24 | $107.0M | $234.7M |
| Q4 25 | — | $-13.6M | ||
| Q3 25 | — | $21.8M | ||
| Q2 25 | — | $106.6M | ||
| Q1 25 | — | $76.4M | ||
| Q4 24 | — | $34.4M | ||
| Q3 24 | — | $50.1M | ||
| Q2 24 | — | $167.4M | ||
| Q1 24 | — | $178.9M |
| Q4 25 | — | -1.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 7.9% | ||
| Q1 25 | — | 4.6% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | 12.3% | ||
| Q1 24 | — | 10.0% |
| Q4 25 | — | 4.5% | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | — | 3.8% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | 4.6% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.4% | ||
| Q1 24 | — | 3.1% |
| Q4 25 | 2.62× | 0.68× | ||
| Q3 25 | 1.00× | 0.63× | ||
| Q2 25 | 1.10× | 3.42× | ||
| Q1 25 | 2.22× | 1.05× | ||
| Q4 24 | 2.64× | 1.47× | ||
| Q3 24 | 2.54× | 0.64× | ||
| Q2 24 | -0.42× | 2.61× | ||
| Q1 24 | 0.44× | 1.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AFG
| Property And Casualty Insurance | $2.0B | 96% |
| Other | $83.0M | 4% |
ASO
| Outdoors | $445.1M | 32% |
| Apparel | $349.8M | 25% |
| Footwear | $292.4M | 21% |
| Sports And Recreation | $288.7M | 21% |
| Other | $7.6M | 1% |
