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Side-by-side financial comparison of APA Corporation (APA) and Academy Sports & Outdoors, Inc. (ASO). Click either name above to swap in a different company.
APA Corporation is the larger business by last-quarter revenue ($2.2B vs $1.4B, roughly 1.6× Academy Sports & Outdoors, Inc.). APA Corporation runs the higher net margin — 15.0% vs 5.2%, a 9.8% gap on every dollar of revenue. On growth, Academy Sports & Outdoors, Inc. posted the faster year-over-year revenue change (3.0% vs -24.3%). Over the past eight quarters, APA Corporation's revenue compounded faster (1.4% CAGR vs -12.2%).
APA Corporation, a holding company for Apache Corporation, an American company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston.
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.
APA vs ASO — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.2B | $1.4B |
| Net Profit | $331.0M | $71.6M |
| Gross Margin | — | 35.7% |
| Operating Margin | 32.5% | 7.3% |
| Net Margin | 15.0% | 5.2% |
| Revenue YoY | -24.3% | 3.0% |
| Net Profit YoY | -22.1% | 8.8% |
| EPS (diluted) | $0.79 | $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 | $2.2B | $1.4B | ||
| Q3 25 | $2.3B | $1.6B | ||
| Q2 25 | $2.3B | $1.4B | ||
| Q1 25 | $2.7B | $1.7B | ||
| Q4 24 | $2.9B | $1.3B | ||
| Q3 24 | $2.7B | $1.5B | ||
| Q2 24 | $2.8B | $1.4B | ||
| Q1 24 | $2.1B | $1.8B |
| Q4 25 | $331.0M | $71.6M | ||
| Q3 25 | $205.0M | $125.4M | ||
| Q2 25 | $603.0M | $46.1M | ||
| Q1 25 | $418.0M | $133.6M | ||
| Q4 24 | $425.0M | $65.8M | ||
| Q3 24 | $-223.0M | $142.6M | ||
| Q2 24 | $541.0M | $76.5M | ||
| Q1 24 | $212.0M | $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 | 32.5% | 7.3% | ||
| Q3 25 | 33.7% | 10.8% | ||
| Q2 25 | 31.8% | 5.1% | ||
| Q1 25 | 31.9% | 9.2% | ||
| Q4 24 | 31.4% | 6.8% | ||
| Q3 24 | -5.2% | 12.3% | ||
| Q2 24 | 34.4% | 7.5% | ||
| Q1 24 | 32.2% | 11.4% |
| Q4 25 | 15.0% | 5.2% | ||
| Q3 25 | 9.0% | 7.8% | ||
| Q2 25 | 26.0% | 3.4% | ||
| Q1 25 | 15.4% | 8.0% | ||
| Q4 24 | 14.6% | 4.9% | ||
| Q3 24 | -8.1% | 9.2% | ||
| Q2 24 | 19.0% | 5.6% | ||
| Q1 24 | 9.9% | 9.4% |
| Q4 25 | $0.79 | $1.05 | ||
| Q3 25 | $0.57 | $1.85 | ||
| Q2 25 | $1.67 | $0.68 | ||
| Q1 25 | $0.96 | $1.85 | ||
| Q4 24 | $0.97 | $0.92 | ||
| Q3 24 | $-0.60 | $1.95 | ||
| Q2 24 | $1.46 | $1.01 | ||
| Q1 24 | $0.44 | $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 | $516.0M | $289.5M |
| Total DebtLower is stronger | $4.3B | — |
| Stockholders' EquityBook value | $6.1B | $2.1B |
| Total Assets | $17.8B | $5.4B |
| Debt / EquityLower = less leverage | 0.70× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $516.0M | $289.5M | ||
| Q3 25 | $475.0M | $300.9M | ||
| Q2 25 | $107.0M | $285.1M | ||
| Q1 25 | $67.0M | $288.9M | ||
| Q4 24 | $625.0M | $296.0M | ||
| Q3 24 | $64.0M | $324.6M | ||
| Q2 24 | $160.0M | $378.1M | ||
| Q1 24 | $102.0M | $347.9M |
| Q4 25 | $4.3B | — | ||
| Q3 25 | $4.3B | — | ||
| Q2 25 | $4.3B | — | ||
| Q1 25 | $5.2B | — | ||
| Q4 24 | $6.0B | — | ||
| Q3 24 | $6.4B | — | ||
| Q2 24 | $6.7B | — | ||
| Q1 24 | $5.2B | — |
| Q4 25 | $6.1B | $2.1B | ||
| Q3 25 | $6.0B | $2.1B | ||
| Q2 25 | $5.9B | $1.9B | ||
| Q1 25 | $5.4B | $2.0B | ||
| Q4 24 | $5.3B | $2.0B | ||
| Q3 24 | $5.1B | $2.0B | ||
| Q2 24 | $5.4B | $1.9B | ||
| Q1 24 | $2.6B | $2.0B |
| Q4 25 | $17.8B | $5.4B | ||
| Q3 25 | $17.7B | $5.3B | ||
| Q2 25 | $18.1B | $5.2B | ||
| Q1 25 | $18.5B | $4.9B | ||
| Q4 24 | $19.4B | $5.1B | ||
| Q3 24 | $19.4B | $4.9B | ||
| Q2 24 | $20.2B | $4.9B | ||
| Q1 24 | $15.0B | $4.7B |
| Q4 25 | 0.70× | — | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.96× | — | ||
| Q4 24 | 1.13× | — | ||
| Q3 24 | 1.25× | — | ||
| Q2 24 | 1.24× | — | ||
| Q1 24 | 1.99× | — |
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 | $808.0M | $49.0M |
| Free Cash FlowOCF − Capex | — | $-13.6M |
| FCF MarginFCF / Revenue | — | -1.0% |
| Capex IntensityCapex / Revenue | — | 4.5% |
| Cash ConversionOCF / Net Profit | 2.44× | 0.68× |
| TTM Free Cash FlowTrailing 4 quarters | — | $191.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $808.0M | $49.0M | ||
| Q3 25 | $1.5B | $78.6M | ||
| Q2 25 | $1.2B | $157.5M | ||
| Q1 25 | $1.1B | $140.2M | ||
| Q4 24 | $1.0B | $96.9M | ||
| Q3 24 | $1.3B | $91.3M | ||
| Q2 24 | $877.0M | $199.7M | ||
| Q1 24 | $368.0M | $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 | 2.44× | 0.68× | ||
| Q3 25 | 7.12× | 0.63× | ||
| Q2 25 | 1.96× | 3.42× | ||
| Q1 25 | 2.62× | 1.05× | ||
| Q4 24 | 2.44× | 1.47× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | 1.62× | 2.61× | ||
| Q1 24 | 1.74× | 1.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APA
| Oil And Gas Excluding Purchased | $1.7B | 76% |
| Oil And Gas Purchased | $323.0M | 15% |
| Oil Reserves | $114.0M | 5% |
| Other | $72.0M | 3% |
| Natural Gas Reserves | $30.0M | 1% |
ASO
| Outdoors | $445.1M | 32% |
| Apparel | $349.8M | 25% |
| Footwear | $292.4M | 21% |
| Sports And Recreation | $288.7M | 21% |
| Other | $7.6M | 1% |
