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Side-by-side financial comparison of Academy Sports & Outdoors, Inc. (ASO) and Brookfield Asset Management Ltd. (BAM). 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 $1.1B, roughly 1.3× Brookfield Asset Management Ltd.). Brookfield Asset Management Ltd. runs the higher net margin — 56.7% vs 5.2%, a 51.5% gap on every dollar of revenue.
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.
Brookfield Asset Management Ltd. is a Canadian-American alternative asset manager. The company was founded in December 2022 as a spin-off of the asset management operations of Brookfield Corporation, and manages investments across real estate, infrastructure, renewable energy, private equity, and credit markets globally.
ASO vs BAM — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.1B |
| Net Profit | $71.6M | $615.0M |
| Gross Margin | 35.7% | — |
| Operating Margin | 7.3% | 84.2% |
| Net Margin | 5.2% | 56.7% |
| Revenue YoY | 3.0% | — |
| Net Profit YoY | 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.
| Q4 25 | $1.4B | $1.1B | ||
| Q3 25 | $1.6B | $974.0M | ||
| Q2 25 | $1.4B | $931.0M | ||
| Q1 25 | $1.7B | $954.0M | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.5B | $873.0M | ||
| Q2 24 | $1.4B | $821.0M | ||
| Q1 24 | $1.8B | $786.0M |
| Q4 25 | $71.6M | $615.0M | ||
| Q3 25 | $125.4M | $692.0M | ||
| Q2 25 | $46.1M | $584.0M | ||
| Q1 25 | $133.6M | $507.0M | ||
| Q4 24 | $65.8M | — | ||
| Q3 24 | $142.6M | $537.0M | ||
| Q2 24 | $76.5M | $124.0M | ||
| Q1 24 | $168.2M | $373.0M |
| 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% | 84.2% | ||
| Q3 25 | 10.8% | 79.1% | ||
| Q2 25 | 5.1% | 70.8% | ||
| Q1 25 | 9.2% | 61.0% | ||
| Q4 24 | 6.8% | — | ||
| Q3 24 | 12.3% | 72.5% | ||
| Q2 24 | 7.5% | 80.4% | ||
| Q1 24 | 11.4% | 56.5% |
| Q4 25 | 5.2% | 56.7% | ||
| Q3 25 | 7.8% | 71.0% | ||
| Q2 25 | 3.4% | 62.7% | ||
| Q1 25 | 8.0% | 53.1% | ||
| Q4 24 | 4.9% | — | ||
| Q3 24 | 9.2% | 61.5% | ||
| Q2 24 | 5.6% | 15.1% | ||
| Q1 24 | 9.4% | 47.5% |
| Q4 25 | $1.05 | — | ||
| Q3 25 | $1.85 | — | ||
| Q2 25 | $0.68 | — | ||
| Q1 25 | $1.85 | — | ||
| Q4 24 | $0.92 | — | ||
| Q3 24 | $1.95 | — | ||
| Q2 24 | $1.01 | — | ||
| Q1 24 | $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 | $289.5M | $1.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $8.9B |
| Total Assets | $5.4B | $17.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $289.5M | $1.6B | ||
| Q3 25 | $300.9M | $1.1B | ||
| Q2 25 | $285.1M | $480.0M | ||
| Q1 25 | $288.9M | $332.0M | ||
| Q4 24 | $296.0M | — | ||
| Q3 24 | $324.6M | — | ||
| Q2 24 | $378.1M | $10.0M | ||
| Q1 24 | $347.9M | — |
| Q4 25 | $2.1B | $8.9B | ||
| Q3 25 | $2.1B | $8.5B | ||
| Q2 25 | $1.9B | $8.5B | ||
| Q1 25 | $2.0B | $8.5B | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.0B | $9.0B | ||
| Q2 24 | $1.9B | $3.2B | ||
| Q1 24 | $2.0B | $2.2B |
| Q4 25 | $5.4B | $17.0B | ||
| Q3 25 | $5.3B | $16.5B | ||
| Q2 25 | $5.2B | $16.1B | ||
| Q1 25 | $4.9B | $15.0B | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $4.9B | — | ||
| Q2 24 | $4.9B | $4.2B | ||
| Q1 24 | $4.7B | — |
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 | $562.0M |
| Free Cash FlowOCF − Capex | $-13.6M | — |
| FCF MarginFCF / Revenue | -1.0% | — |
| Capex IntensityCapex / Revenue | 4.5% | — |
| Cash ConversionOCF / Net Profit | 0.68× | 0.91× |
| TTM Free Cash FlowTrailing 4 quarters | $191.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.0M | $562.0M | ||
| Q3 25 | $78.6M | $745.0M | ||
| Q2 25 | $157.5M | $529.0M | ||
| Q1 25 | $140.2M | $265.0M | ||
| Q4 24 | $96.9M | — | ||
| Q3 24 | $91.3M | $567.0M | ||
| Q2 24 | $199.7M | $159.0M | ||
| Q1 24 | $234.7M | $516.0M |
| 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 | 0.68× | 0.91× | ||
| Q3 25 | 0.63× | 1.08× | ||
| Q2 25 | 3.42× | 0.91× | ||
| Q1 25 | 1.05× | 0.52× | ||
| Q4 24 | 1.47× | — | ||
| Q3 24 | 0.64× | 1.06× | ||
| Q2 24 | 2.61× | 1.28× | ||
| Q1 24 | 1.40× | 1.38× |
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% |
BAM
| Incentive Fees | $452.0M | 42% |
| Infrastruture | $332.0M | 31% |
| Private Equity | $174.0M | 16% |
| Renewable Power And Transition | $66.0M | 6% |
| Other | $47.0M | 4% |
| Management And Advisory Fees | $14.0M | 1% |
