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Side-by-side financial comparison of Academy Sports & Outdoors, Inc. (ASO) and AvalonBay Communities (AVB). Click either name above to swap in a different company.
Academy Sports & Outdoors, Inc. is the larger business by last-quarter revenue ($1.4B vs $767.9M, roughly 1.8× AvalonBay Communities). AvalonBay Communities runs the higher net margin — 9040.6% vs 5.2%, a 9035.4% gap on every dollar of revenue. On growth, AvalonBay Communities posted the faster year-over-year revenue change (3.7% vs 3.0%). AvalonBay Communities produced more free cash flow last quarter ($1.4B vs $-13.6M). Over the past eight quarters, AvalonBay Communities's revenue compounded faster (3.8% CAGR vs -12.2%).
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.
AvalonBay Communities, Inc. is a publicly traded real estate investment trust that invests in apartments.
ASO vs AVB — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $767.9M |
| Net Profit | $71.6M | $166.0M |
| Gross Margin | 35.7% | — |
| Operating Margin | 7.3% | 64.2% |
| Net Margin | 5.2% | 9040.6% |
| Revenue YoY | 3.0% | 3.7% |
| Net Profit YoY | 8.8% | -41.2% |
| EPS (diluted) | $1.05 | $1.18 |
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 | $1.4B | $767.9M | ||
| Q3 25 | $1.6B | $766.8M | ||
| Q2 25 | $1.4B | $760.2M | ||
| Q1 25 | $1.7B | $745.9M | ||
| Q4 24 | $1.3B | $740.5M | ||
| Q3 24 | $1.5B | $734.3M | ||
| Q2 24 | $1.4B | $726.0M | ||
| Q1 24 | $1.8B | $712.9M |
| Q4 25 | $71.6M | $166.0M | ||
| Q3 25 | $125.4M | $381.3M | ||
| Q2 25 | $46.1M | $268.7M | ||
| Q1 25 | $133.6M | $236.6M | ||
| Q4 24 | $65.8M | $282.1M | ||
| Q3 24 | $142.6M | $372.5M | ||
| Q2 24 | $76.5M | $253.9M | ||
| Q1 24 | $168.2M | $173.4M |
| 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 | 7.3% | 64.2% | ||
| Q3 25 | 10.8% | 65.7% | ||
| Q2 25 | 5.1% | 67.6% | ||
| Q1 25 | 9.2% | 68.5% | ||
| Q4 24 | 6.8% | 63.1% | ||
| Q3 24 | 12.3% | 65.4% | ||
| Q2 24 | 7.5% | 66.6% | ||
| Q1 24 | 11.4% | 67.2% |
| Q4 25 | 5.2% | 9040.6% | ||
| Q3 25 | 7.8% | 49.7% | ||
| Q2 25 | 3.4% | 35.3% | ||
| Q1 25 | 8.0% | 31.7% | ||
| Q4 24 | 4.9% | 38.1% | ||
| Q3 24 | 9.2% | 50.7% | ||
| Q2 24 | 5.6% | 35.0% | ||
| Q1 24 | 9.4% | 24.3% |
| Q4 25 | $1.05 | $1.18 | ||
| Q3 25 | $1.85 | $2.68 | ||
| Q2 25 | $0.68 | $1.88 | ||
| Q1 25 | $1.85 | $1.66 | ||
| Q4 24 | $0.92 | $1.99 | ||
| Q3 24 | $1.95 | $2.61 | ||
| Q2 24 | $1.01 | $1.78 | ||
| Q1 24 | $2.19 | $1.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $289.5M | $187.2M |
| Total DebtLower is stronger | — | $9.3B |
| Stockholders' EquityBook value | $2.1B | $11.6B |
| Total Assets | $5.4B | $22.2B |
| Debt / EquityLower = less leverage | — | 0.80× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $289.5M | $187.2M | ||
| Q3 25 | $300.9M | $123.3M | ||
| Q2 25 | $285.1M | $102.8M | ||
| Q1 25 | $288.9M | $53.3M | ||
| Q4 24 | $296.0M | $108.6M | ||
| Q3 24 | $324.6M | $552.4M | ||
| Q2 24 | $378.1M | $545.8M | ||
| Q1 24 | $347.9M | $287.9M |
| Q4 25 | — | $9.3B | ||
| Q3 25 | — | $8.7B | ||
| Q2 25 | — | $8.7B | ||
| Q1 25 | — | $8.3B | ||
| Q4 24 | — | $8.1B | ||
| Q3 24 | — | $8.4B | ||
| Q2 24 | — | $8.4B | ||
| Q1 24 | — | $8.0B |
| Q4 25 | $2.1B | $11.6B | ||
| Q3 25 | $2.1B | $11.9B | ||
| Q2 25 | $1.9B | $11.9B | ||
| Q1 25 | $2.0B | $11.9B | ||
| Q4 24 | $2.0B | $11.9B | ||
| Q3 24 | $2.0B | $11.9B | ||
| Q2 24 | $1.9B | $11.7B | ||
| Q1 24 | $2.0B | $11.7B |
| Q4 25 | $5.4B | $22.2B | ||
| Q3 25 | $5.3B | $21.9B | ||
| Q2 25 | $5.2B | $21.8B | ||
| Q1 25 | $4.9B | $21.2B | ||
| Q4 24 | $5.1B | $21.0B | ||
| Q3 24 | $4.9B | $21.3B | ||
| Q2 24 | $4.9B | $21.0B | ||
| Q1 24 | $4.7B | $20.6B |
| Q4 25 | — | 0.80× | ||
| Q3 25 | — | 0.73× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.71× | ||
| Q1 24 | — | 0.68× |
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 | $1.7B |
| Free Cash FlowOCF − Capex | $-13.6M | $1.4B |
| FCF MarginFCF / Revenue | -1.0% | 183.5% |
| Capex IntensityCapex / Revenue | 4.5% | 34.1% |
| Cash ConversionOCF / Net Profit | 0.68× | 10.07× |
| TTM Free Cash FlowTrailing 4 quarters | $191.4M | $2.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.0M | $1.7B | ||
| Q3 25 | $78.6M | $477.0M | ||
| Q2 25 | $157.5M | $377.8M | ||
| Q1 25 | $140.2M | $415.9M | ||
| Q4 24 | $96.9M | $1.6B | ||
| Q3 24 | $91.3M | $486.2M | ||
| Q2 24 | $199.7M | $380.0M | ||
| Q1 24 | $234.7M | $412.9M |
| Q4 25 | $-13.6M | $1.4B | ||
| Q3 25 | $21.8M | $402.2M | ||
| Q2 25 | $106.6M | $317.1M | ||
| Q1 25 | $76.4M | $367.5M | ||
| Q4 24 | $34.4M | $1.4B | ||
| Q3 24 | $50.1M | $434.2M | ||
| Q2 24 | $167.4M | $333.0M | ||
| Q1 24 | $178.9M | $375.4M |
| Q4 25 | -1.0% | 183.5% | ||
| Q3 25 | 1.4% | 52.5% | ||
| Q2 25 | 7.9% | 41.7% | ||
| Q1 25 | 4.6% | 49.3% | ||
| Q4 24 | 2.6% | 191.0% | ||
| Q3 24 | 3.2% | 59.1% | ||
| Q2 24 | 12.3% | 45.9% | ||
| Q1 24 | 10.0% | 52.7% |
| Q4 25 | 4.5% | 34.1% | ||
| Q3 25 | 3.5% | 9.8% | ||
| Q2 25 | 3.8% | 8.0% | ||
| Q1 25 | 3.8% | 6.5% | ||
| Q4 24 | 4.6% | 26.1% | ||
| Q3 24 | 2.7% | 7.1% | ||
| Q2 24 | 2.4% | 6.5% | ||
| Q1 24 | 3.1% | 5.3% |
| Q4 25 | 0.68× | 10.07× | ||
| Q3 25 | 0.63× | 1.25× | ||
| Q2 25 | 3.42× | 1.41× | ||
| Q1 25 | 1.05× | 1.76× | ||
| Q4 24 | 1.47× | 5.70× | ||
| Q3 24 | 0.64× | 1.31× | ||
| Q2 24 | 2.61× | 1.50× | ||
| Q1 24 | 1.40× | 2.38× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ASO
| Outdoors | $445.1M | 32% |
| Apparel | $349.8M | 25% |
| Footwear | $292.4M | 21% |
| Sports And Recreation | $288.7M | 21% |
| Other | $7.6M | 1% |
AVB
Segment breakdown not available.
