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Side-by-side financial comparison of American Tower (AMT) and Academy Sports & Outdoors, Inc. (ASO). Click either name above to swap in a different company.
American Tower is the larger business by last-quarter revenue ($2.7B vs $1.4B, roughly 2.0× Academy Sports & Outdoors, Inc.). American Tower runs the higher net margin — 110.1% vs 5.2%, a 104.9% gap on every dollar of revenue. On growth, American Tower posted the faster year-over-year revenue change (6.8% vs 3.0%). American Tower produced more free cash flow last quarter ($941.0M vs $-13.6M). Over the past eight quarters, American Tower's revenue compounded faster (3.7% CAGR vs -12.2%).
American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.
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.
AMT vs ASO — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.7B | $1.4B |
| Net Profit | $3.0B | $71.6M |
| Gross Margin | — | 35.7% |
| Operating Margin | 0.0% | 7.3% |
| Net Margin | 110.1% | 5.2% |
| Revenue YoY | 6.8% | 3.0% |
| Net Profit YoY | -2.6% | 8.8% |
| EPS (diluted) | — | $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.
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $1.4B | ||
| Q3 25 | $2.7B | $1.6B | ||
| Q2 25 | $2.6B | $1.4B | ||
| Q1 25 | $2.6B | $1.7B | ||
| Q4 24 | $2.5B | $1.3B | ||
| Q3 24 | $2.5B | $1.5B | ||
| Q2 24 | $2.5B | $1.4B |
| Q1 26 | $3.0B | — | ||
| Q4 25 | $836.8M | $71.6M | ||
| Q3 25 | $912.6M | $125.4M | ||
| Q2 25 | $380.5M | $46.1M | ||
| Q1 25 | $498.6M | $133.6M | ||
| Q4 24 | $1.2B | $65.8M | ||
| Q3 24 | $-780.4M | $142.6M | ||
| Q2 24 | $908.4M | $76.5M |
| Q1 26 | — | — | ||
| 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 26 | 0.0% | — | ||
| Q4 25 | 42.4% | 7.3% | ||
| Q3 25 | 45.4% | 10.8% | ||
| Q2 25 | 45.6% | 5.1% | ||
| Q1 25 | 48.9% | 9.2% | ||
| Q4 24 | 42.4% | 6.8% | ||
| Q3 24 | 45.2% | 12.3% | ||
| Q2 24 | 45.4% | 7.5% |
| Q1 26 | 110.1% | — | ||
| Q4 25 | 30.6% | 5.2% | ||
| Q3 25 | 33.6% | 7.8% | ||
| Q2 25 | 14.5% | 3.4% | ||
| Q1 25 | 19.5% | 8.0% | ||
| Q4 24 | 48.3% | 4.9% | ||
| Q3 24 | -30.9% | 9.2% | ||
| Q2 24 | 35.7% | 5.6% |
| Q1 26 | — | — | ||
| Q4 25 | $1.76 | $1.05 | ||
| Q3 25 | $1.82 | $1.85 | ||
| Q2 25 | $0.78 | $0.68 | ||
| Q1 25 | $1.04 | $1.85 | ||
| Q4 24 | $2.63 | $0.92 | ||
| Q3 24 | $-1.69 | $1.95 | ||
| Q2 24 | $1.92 | $1.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.6B | $289.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $10.2B | $2.1B |
| Total Assets | — | $5.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.5B | $289.5M | ||
| Q3 25 | $2.0B | $300.9M | ||
| Q2 25 | $2.1B | $285.1M | ||
| Q1 25 | $2.1B | $288.9M | ||
| Q4 24 | $2.0B | $296.0M | ||
| Q3 24 | $2.2B | $324.6M | ||
| Q2 24 | $2.2B | $378.1M |
| Q1 26 | — | — | ||
| Q4 25 | $33.8B | — | ||
| Q3 25 | $34.9B | — | ||
| Q2 25 | $35.2B | — | ||
| Q1 25 | $34.0B | — | ||
| Q4 24 | $32.8B | — | ||
| Q3 24 | $33.4B | — | ||
| Q2 24 | $35.6B | — |
| Q1 26 | $10.2B | — | ||
| Q4 25 | $3.7B | $2.1B | ||
| Q3 25 | $4.0B | $2.1B | ||
| Q2 25 | $3.7B | $1.9B | ||
| Q1 25 | $3.5B | $2.0B | ||
| Q4 24 | $3.4B | $2.0B | ||
| Q3 24 | $3.6B | $2.0B | ||
| Q2 24 | $3.9B | $1.9B |
| Q1 26 | — | — | ||
| Q4 25 | $63.2B | $5.4B | ||
| Q3 25 | $63.9B | $5.3B | ||
| Q2 25 | $63.8B | $5.2B | ||
| Q1 25 | $62.1B | $4.9B | ||
| Q4 24 | $61.1B | $5.1B | ||
| Q3 24 | $62.8B | $4.9B | ||
| Q2 24 | $65.8B | $4.9B |
| Q1 26 | — | — | ||
| Q4 25 | 9.26× | — | ||
| Q3 25 | 8.82× | — | ||
| Q2 25 | 9.48× | — | ||
| Q1 25 | 9.63× | — | ||
| Q4 24 | 9.70× | — | ||
| Q3 24 | 9.16× | — | ||
| Q2 24 | 9.24× | — |
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 | — | $49.0M |
| Free Cash FlowOCF − Capex | $941.0M | $-13.6M |
| FCF MarginFCF / Revenue | 34.4% | -1.0% |
| Capex IntensityCapex / Revenue | 16.8% | 4.5% |
| Cash ConversionOCF / Net Profit | — | 0.68× |
| TTM Free Cash FlowTrailing 4 quarters | $6.7B | $191.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $5.5B | $49.0M | ||
| Q3 25 | $1.5B | $78.6M | ||
| Q2 25 | $1.3B | $157.5M | ||
| Q1 25 | $1.3B | $140.2M | ||
| Q4 24 | $5.3B | $96.9M | ||
| Q3 24 | $1.5B | $91.3M | ||
| Q2 24 | $1.3B | $199.7M |
| Q1 26 | $941.0M | — | ||
| Q4 25 | $3.8B | $-13.6M | ||
| Q3 25 | $994.5M | $21.8M | ||
| Q2 25 | $976.9M | $106.6M | ||
| Q1 25 | $963.9M | $76.4M | ||
| Q4 24 | $3.7B | $34.4M | ||
| Q3 24 | $1.0B | $50.1M | ||
| Q2 24 | $1.0B | $167.4M |
| Q1 26 | 34.4% | — | ||
| Q4 25 | 138.2% | -1.0% | ||
| Q3 25 | 36.6% | 1.4% | ||
| Q2 25 | 37.2% | 7.9% | ||
| Q1 25 | 37.6% | 4.6% | ||
| Q4 24 | 145.3% | 2.6% | ||
| Q3 24 | 41.4% | 3.2% | ||
| Q2 24 | 39.8% | 12.3% |
| Q1 26 | 16.8% | — | ||
| Q4 25 | 61.4% | 4.5% | ||
| Q3 25 | 17.1% | 3.5% | ||
| Q2 25 | 11.6% | 3.8% | ||
| Q1 25 | 12.9% | 3.8% | ||
| Q4 24 | 62.4% | 4.6% | ||
| Q3 24 | 16.8% | 2.7% | ||
| Q2 24 | 12.8% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 6.53× | 0.68× | ||
| Q3 25 | 1.60× | 0.63× | ||
| Q2 25 | 3.37× | 3.42× | ||
| Q1 25 | 2.60× | 1.05× | ||
| Q4 24 | 4.30× | 1.47× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | 1.47× | 2.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMT
Segment breakdown not available.
ASO
| Outdoors | $445.1M | 32% |
| Apparel | $349.8M | 25% |
| Footwear | $292.4M | 21% |
| Sports And Recreation | $288.7M | 21% |
| Other | $7.6M | 1% |
